Develop a realistic budget. Don't just estimate what your costs are. Take a month to write down every cent you spend from your house payment to your morning cup of coffee. Once you have set up a realistic budget to live on, then you can begin to set up a realistic goal to save money each month.
Wait before you buy. In order to break the habit of wasting money on impulse purchases, impose a waiting period on yourself. Wait for a month, and if you still really want that item, then buy it if you have the money.
Put a limit on how much you will spend each month on things such as entertainment or morning stops at the coffee shop. Use cash and divide money that you have allocated for Starbucks or entertainment into envelopes. Once your envelope is empty there are no more dinners out or morning lattes. This allows you to continue to have access to the things you enjoy but stops you from overindulging by setting limits.
Have money automatically deducted from your paychecks. It's an easy way to save money each month. If you don't see it, you don't miss it.
Look into making lifestyle changes that will help you save money each month. Take public transportation, quit smoking or buy some necessary items at thrift stores or consignment shops to save a little money each month.
When doing laundry, do a full load and use the W/C setting. Also, adjust the water level accordingly. Put them through the spin cycle at least 2 times to get the water off of them. It will make it much quicker to dry. Getting the extra water and moisture off your clothes will save you money not having to dry them for as long. This in turn will save you money with your biggest energy guzzler - the dryer! Better yet, hang your clothes on the clothes line.
Fill plastic pop bottles 4/5 of the way with water and put them in your deep freezer to keep it cold. You can add bottles or take them out as necessary.
Turn lights off in the rooms you aren't using.
Pay yourself first. Save at least 10% of your paycheque and put it in the bank or make extra mortgage principle payments.
Use cash instead of credit cards.
If you don't already have one - BUY A HOUSE. Never buy a house that has semi-detached houses or apartments nearby. However, buy a semi-detached or townhouse in a neighborhood with nice houses.
Never pay utilities early, that way you keep your money longer.
Paying bills online saves you time and money.
Pay your own property taxes thereby accruing interest which is yours.
Don't buy anything unless you need it. Someone once said to me "At least I'm getting something for my money". I say, "if you are spending your money, it's spent".
Start a home business to help with income tax deductions.
