How do you save money?

[The 2020 New Member]

Looking for some creative or effective ways to really save, even if it's just a little at a time. Part of getting black folks on the right track is not only spending on each other but also being secure personally. Any advice or links?

I've recently realized the importance of actually writing down my budget and tracking every cent. It really does all add up. Being antibanks, I have to do it myself. Prioritizing used to sound like a joke to me and if I could talk to myself last year, I'd be like . I was the king of splurging; I was so broke that I didn't recognize the value of small amounts of money (hopefully that makes sense). Not to sound offensive, but many of us are struggling to the point that it seems impossible to save anything substantial. With that in mind, I'm also welcoming any side hustles that could go straight to savings. An additional source of income that is never touched should be on everyone's list imo.

Please share. You never know who you're helping here!

 

[muse]

i too have a similar question.

not how in the sense of "how do you do it im broke " but how in the sense of what are your methods?



right now, $50 automatically goes into my savings from every check, then when my checking account is over a certain amount that i set, whatever the excess is, i'll also put that in my savings. so now im putting at least $400 in my savings monthly

but i want to change that

im thinking of having my first check for the month go to whatever i want, and my bills. and then the second check going straight to my savings account and maybe also subtract how much i put on my cc from that second check

anybody ever save like that?

i've actually always wanted to use that method, but now that its feasible, i dont know if i'll like it. i'm gonna try it in july anyway even tho im not feeling too good about it

but what are yalls savings methods?

 

[Bless't]

Cut any unnecessary expenses out of your life. Be cheap. I can only really do it in stretches because lord knows I like to spend. But take an extended period of time to just be cheap and boring. It takes a TON of discipline though.

That extra order of crab rangoon at the chinese spot...
Brand name groceries instead of store brand...

Paying for a date...

goose, patron, bombay...


I mean, it also depends on how much everyone is personally making. It'll add up. It gets boring af though. I guess because when I pinch... I pinch.

 

[iBrowse]

For me personally, its simply not eating out as much (all of those lil $10-$25 meals a day adds the fukk up). That is honestly my only issue. Its HARD AS fukk to break out of habits though. Every payday I put $100 into savings too bills, student loans, etc get paid off GP of course and the rest just accrues in my checking account until I decide to spend it on something worthwhile. I got an extension to my credit card limit recently and am applying for a second too just for rainy days but as I'm sure you heard, its about living below your means

 

[Sleepy Walker]

I live like I'm broke (keep traveling and frivolous spending to a minimum)

 

[MAKAVELI25]

Staying single.

 

[Rawtid]

I put about $220 in savings every pay.
- I buy more multi purpose products, like for the most part what I use on my skin I use on my hair and I buy that in bulk. I can pay $50 for a gallon of coconut oil, an essential oil, aloe and Shea butter and have it for a while.

-for cleaning I use vinegar and baking soda mainly and I buy those in bulk. You'd be surprised how much you spend on cleaning supplies

-making desserts instead of buying them.

That's all I can think of for now. It's small stuff but on the grand scheme of things it saves tons. Especially if you're a product junkie like me.

 

[Clark Wayne]

Don't buy shyt just to buy it.

Cut back on fast food. Buy groceries.

Get a car that's good on gas and already paid off.

Also personally for me, any money I get that's not from my job, I save and never touch it. I sell a lot of stuff on Craigslist and just put the money I get from that and leave it alone.

 

[The Mad Titan]

For me personally, its simply not eating out as much (all of those lil $10-$25 meals a day adds the fukk up). That is honestly my only issue. Its HARD AS fukk to break out of habits though. Every payday I put $100 into savings too bills, student loans, etc get paid off GP of course and the rest just accrues in my checking account until I decide to spend it on something worthwhile. I got an extension to my credit card limit recently and am applying for a second too just for rainy days but as I'm sure you heard, its about living below your means

This is what kills me, I get smoothie king shake in the morning and lunch and I've already spent any where from 15 to 18 bucks a day. so I round up to about 20 bucks 5 days a week and thats 400 a month no including weekends.

 

[Prynce]

I put up 100$ out of each paycheck.
I put up 50% of all other money I get. Example- I get my refund money from school and tax season which is like around 2000$ i put 1000$ in my savings
Also all loose change I have laying around or in my pockets I put in a water cooler jug I keep by my front door. I take it to Coinstar every 6 months and then put in my savings.

Also i'm on a health kick now so I save a lot of money by not buying sodas, junk food and fast food.

The car I drive is paid for also.

If I want to buy something over 50$ I do research and see if I can get a discount.

 

[iBrowse]

Oh and if you shop someplace often, become a member of their "club" use those coupons, rebates, promotional offers, etc and buy in bulk..

 

[↓R↑LYB]

When I'm trying to really save money, I give myself $100/wk for spending money. That includes eating out/going out/getting my haircut/tricking off on backpage hoes money. Everything else is for bills/savings.

 

[B86]

I make it my goal to flip at least $100 worth of items per week from thrift stores. I work in the CAC part of town and their Goodwill is nuts! I go everyday on lunch break and can find a ebay flip damn near every day. That $400 or so I make from there is how I buy my games, electronics, or whatever else for the month while just paying my bills, habits, gas, food, etc from my paycheck. I usually still have a couple hundred left after bills and that gets put in savings

I DO NOT save a dollar from my flips...that's my monthly play with money so I buy what I want. And usually whatever I buy is a flip in itself so when I'm done with my stuff it also gets sold

 

[Cat piss martini]

shopping will save you money
and will dead the urge to eat out.
if i make 500$ today i'm putting 300$
to the side.
get a big ass pickle jar,make a slot in it,
glue the lid shut and write....
(you doing dumb shyt if youre about to break me open)
on it.

 

[scarlxrd]

I have to do it in large sums, I can't nickel and dime. I tried to do that $1, $2, $4, $8 a week thing and just gave up.