Saving Money Quotes

The next time you need some inspiration to pack away your credit cards, or just a good line to use on your kids, you can consult these famous quotes on being frugal!

Ben Franklin was pretty well known for his thouughts on the subject.

• A penny saved is a penny earned
• If you would be wealthy, think of saving as well as getting -

I like the last one, and my own dad always said, “It’s not how much you make. It’s how much you save.” This is similar advice, and as a teen, of course, it always annoyed me. Now I just wish I had paid more attention earlier. :)

Sir Henry Taylor also had some words on  the subect.

• The art of living easily as to money is to pitch your scale of living one degree below your means.

That should strike a chord with many people, especially these days.

Samuel Johnson, the English poet and critic had some very sage advice too.

• Without frugality none can be rich. With it, few would be poor.

So you have a favorite Frugal Living Quotes?

Feel free to register for free and put it in the comments. We do moderate comments to keep out SP#M, but we love to publish your thoughts!

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Office Lunches are a Big Money Leak

I know tha when I worked in an office that was far from home, enjoying lunch out was something I really looked forward to. I needed that break from my cubicle or office, and it was also nice to get together with coworkers to bond a little bit. But those lunches out got expensive. That $5 a day started turning into $10 a day or more. So when my budget got tight, it was hard to justify spending $200 a month on lunch time restaurant meals.

Office Lunch Clubs

So here’s a great alternative to brown bagging that is popping up all over. Most work areas do have a lunch area with a fridge and microwave. So lunch clubs are forming. Each member is assigned days to bring lunch. That day, they provide the lunch for the other group members.

For example, if there are 5 members of your group, you can simply assign each person a M-F day. If you have 10 members, you might either assign an every-other week schedule, or you might assign one person to bring paper goods and drinks, while the other person brings food.

This does not have to be complicated or expensive or difficult, and it can actually be a lot of fun. Coworkers can enjoy eating together, but can save a lot of money. Instead of spending $10 a day on lunch, you could spend $10 a week on a nice lasagna and salad. If a group member is cooking impaired, they could still pick up KFC grilled chicken buckets with sides for about $20, which is still a lot cheaper than eating out every day!

If you are a group manager, or if you own a small business, you may actually want to encourage this habit. When workers stay on site, they are more likely to keep lunches fairly short because they will not have to factor in travel time. Some savvy business owners even provide the lunch once a week, and some do it every day! This benefit can actually benefit a business quite a bit!

 Others may offer to underwrite the cost of drinks and paper goods. There are lots of great ways to use this idea to advantage, and it will probably be appreciated by your workers!

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Is there anybody you know who doesn’t want to save more money? Everybody I talk to feels the pressure from the recent economic downturn. The banks are paying a lot less interest on our savings accounts and CDs while they are charging a lot more for our credit card debt. Many of us have watched our retirement account values sink while our jobs and businesses have become less stable. So what we need are some way to reduce our monthly bills so we can save money every month.

Our List of Ways to Save Money This Month (that you probably aren’t doing).

Car Insurance: This is one bill that most of us have to pay so it should be a logical place to start saving money. If you have not compared insurance quotes for awhile, you probably can save money on insurance by doing some competitive shopping. Sure, most of us need auto policies, but it is also a very competitive business.

Gym Memberships: Are you even using that fancy gym membership you purchased for your New Year’s resolution. Maybe now that the weather is starting to get nicer, in the summer, you would be better off taking walks and pulling your bike out of the garage.

I have a friend who found an exercise bike at a garage sale for $15 which has been a much more conveient way to get her heart rate up than dressing and driving to the gym anyway!

Think about how much it costs you to join a gym in transportation costs, gym clothes, and monthly dues. You could use thto sat money to start a spring garden, which would give you exercise and pay you back in fresh produce.

Orgainze Your Pantry Before Shopping: I cannot tell you how many times I used to go the grocery store to purchase items I already had. My problem has always been clutter. Take a few hours to clean out your pantry, and go ahead and give away or toss items you aren’t using. But this way, instead of purchasing your third jar of of salsa or pickles, you will actually be able to use the ones you already have before they expire.

Plan Grocery Shopping: I am not a big fan of detailed shopping lists. I think it is better to list some staples you always need, like eggs or milk, and then make a general outline of the meals you need to prepare. That way you can take advantage of sales and seasonal produce so you can really save money on groceries.  Produce, in season, will be fresher and taste better, and it will be cheaper! Besides, I think it is more fun to go grocery shopping without a very detailed plan, but just a general idea of what I need.  

If you are a coupon shopper, make sure you are actually buying things you use, and not just buying something because you have a coupon for it. That is a great way to clutter your pantry and waste money. 

Party At Home: Instead of going out for dinner and a movie, maybe plan this at home sometimes. If you are going out with friends, 4 couples could spend a couple of hundred dollars – or more – on restaurant meals and movie tickets.  You could prepare a feast at home and rent a movie for a quarter of this price. You could turn your special night in into a potluck, or just have friends take turns hosting.

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Can you save a buck a day? This is a great exercise to do with older kids, but I know many frugal adults who do it too. Get a jar, and then scoop out your change every day. This includes any change you find on the floor or in the laundry or in your couch. Try to make sure you put at least $1 in the jar every day.

At the end of the month you should have about $30. Now it is time to find a bank that has a coin machine, so you can take that jar down to the bank and deposit it into a savings account. If you use a coin sorter at the grocery star, like a Coin Star Machine, they usually charge a very high amount for their service. The one by me takes 8%, which is quite a lot. But I have a nearby bank which lets me do it for free.

Even without interest, that $1 a day or $30 a month, is $360 a year. With interest, even at 3 percent interest, you should have over $4,000 at the end of 10 years. If you can get your kids to do this for 30 years, they will have over $15K. And this is at an online savings account interest of 3%. Hopefully you can find some savings vehicles that do a little better over time. And this took into account a tax rate of 28%, which is certainly too high for a 30 year span. Your kids probably aren’t being taxed, and you may retire at some point so your tax rate should not be that high!

Now turn that $1 a day into $5, or $150 a month. I am still taking taxes into account, as well as interest. In only 15 years, you should have over $30,000!

Now I am paying a home mortgage with 15 years to go. I plan to have that savings account meet the amount left on my loan at some point so I can own my home outright. This will get my home paid off well before the retirement age of 65.

Look at this handy Savings Calculator.

How To Save $1 a Day (Or $5 a Day)

My big problems are impulse stops at the corner drug store, and impulse buys at the grocery store. I know I grab stuff I don’t need. I need to get my pantry organized so I can see that I have purchased 3 jars of pickles and 6 containers of applesauce. Though my family loves applesauce and pickles, we would appear to be well stocked this month.

I am, pretty much, cutting out movies at the theatre. We would go once a month, and with dinner, it would end up costing my family almost $100. We are replacing it with movie rental night at home, which I can pull off for $20 max. So that $80 is going into the jar. I figure we can wait a month or two until first run movies come out on DVD.

And when I am out and about on errands and business, I really do not need a $5 cup of coffee. A $1 cup of convenience store coffee will serve. That should get me a lot more small bills to scrape out of my wallet every week.

Can you save $1 a Day or $5 a Day. Post your Comments!

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FREE EASY BUDGET WORKSHEET TO DOWNLOAD AND PRINT

Most of us aren’t saving enough money for one simple reason. The reason is that we spend too much! The reason that we spend too much is because we have not spent a few minutes to prepare a budget, and so we have totally underestimated our monthly expenses. That is why we have included this simple budget worksheet.

I have to be honest. When I sat down and worked out my budget, I had underestimated my monthly expected by hundreds of dollars. Oh, I figured in my mortgage, and I even allowed for utilities and insurance. But I think I made the same mistake that many people make, and I underestimated what I spent every month on groceries and other consumable goods.

See I remembered what I spent on groceries, but I did not remember to include the mid-week trip to pick up more shampoo and dog food, or the three times a week I ran into my corner drug store, and the almost daily stops at the convenience store. I needed to double the figure.

That miscalculation made me think I had more money for eating out, movies, and clothes then I did. That miscalculation added up to $500 a month. And that was before I remembered to add in $50 a month for family haircuts, $200 a month for my kid’s lunch money, and another $200 a month for the cash that I handed them when they needed something at school or had a function to attend. So I miscalculated by almost $1,000!

So why not prepare your budget summary now?

budget, saving money

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