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Readers Respond: Your Best Financial Advice

Responses: 17

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If you could only share one piece of financial advice what would it be? This is your chance to be the expert. Share Your Tip

Frugal doesn't mean financial diet

You don't need to live on a diet and cut out all the things you don't think you currently use. Cut too many things and you become too lean and will bloat as a result just like any bio diet (food wise, not money). Some of the things like oil changes make the techs maybe $3 and I would much rather pay $3 every 3 months than have to drive around to buy oil and a filter, drain pan, then drive around to recycle it. All that costs, and your local tech already has the most cost-efficient ways of doing it. Simple chemicals work, but not everything. Try to find dollar store cleaning substitutes, but remember that they don't always have the same amount of the active ingredient. Try to find less expensive ways to do things, and look at what rarely do, and try to do without. TV is a major time waster for many, and very expensive. Use your smart phone for internet (like I'm doing now) and cut your cable bill or whatever you use for internet besides your phone. Some things are worth the cost.
—Guest Arielle

don't be fooled by buying large amounts

Many time people buy junk food "in bulk" thinking they will save money. Realize that if you buy 4 packages of cookies, your children will EAT 4 packages of cookies. If you buy only 1 package, you save the cost of the others and your family eats less junk food
—Guest judy

kaylinbub@yahoo.com

I found a check register online (free) and saved it. I then made a spreadsheet and listed all our income and listed each expense for the month by date. The check register automatically deducts expenses or adds in deposits. Each of my creditors notify me of that month's statement amount (which I always pay in full) and I input this data on the register. At the beginning of each month I print this out and put in a 3 ring binder. I also print out a blank check register for checks I write over and above what I already have listed. I check my bank account online each day and check off each item as it is debited from my account. This is an easy way to create a budget! You always know your balance at any particular time; can create an entry for whatever amount you want in your account to begin the next month with (balance forward for next month and amount). You can really adjust this to fit your needs.
—Guest kaylinbub@yahoo.com

Heating Cooling

Always dress warmer in winter & cooler in summer. Reduce central heating as much as possible. A floor heater combined with a ceiling fan on low helps to keep heat from rising & escaping too fast. Thick blankets on beds & rugs on carpetless floors block cold. Close off unused rooms, put a towel down behind a breezy door or in front of a breezy window. For summer try keep Central AC at 70-78 & on auto. A ceiling fan helps destitute the cool air. Use natural light during the day or reduce lighting to keep heat & price at bay. Option to install one or a couple window units in the rooms most used would help cut cost. These tend to go on sale around Spring/Autumn. Block up the sides of window units with insulation or used newspaper by taping it into place. Tint the windows in your house &, if you can tolerate it, use craft paper or thin foam on the top part of the window to block out heat & extreme light. In & out doors fast to reduce heat/cooling loss. Play around with different ideas!
—Guest Amber

Switch to dishwasher powder

Stop using the expensive dishwasher tablets. Instead of buying expensive tablets, buy a large box of dishwasher powder detergent plus dishwasher salt and substitute vinegar for rinseaid. It saves a lot over time.
—Michael1591

As Frugal as it Gets

1) Color your hair at home with a box color - Hairdressers charge an arm and a leg. 2) Price match your groceries can save you about $20 per week 3) Car pool to work with a co-worker 4) Paint your own toe nails 5) File your taxes yourself using the online software programs 6) Collect rain water in a storm barrel to water your lawn and garden 7) Minimize waste 8) only buy it if its on sale 9) Shop at thrift stores or Kijiji 10) Have a garage sale
—Guest Sab

Financial Advice

Get ink pens free from the Bank to save money. Every time you use them to make to do and want list, you will remember to think twice, not spend foolishly and save money
—Guest Gail

bring meals to work

By bring a lunch to work save lots of money and time. Its given me more money to save.
—Guest johanna

Wasted Dryer Heat

Your dryer is connected to flimsy pipe that sends moist HOT air to the exterior of your home. During winter, removing this connection and insulating the exterior vent (optional) keeps valuable heat and moisture INDOORS! It also makes your dryer more efficient by allowing the machine to expel moist air faster. PLUS - makes your house smell great : ) Savings on: Heat, humidifier, AND air freshener!
—Guest SFS

Save your pennies

My dad kept an empty water cooler bottle and threw all of his loose change in there at the end of everyday. By the time it was filled, he had accumulated $2500.00!!
—Guest Leeann

home garden

raise some food including herbs in a small area of your yard or in containers. It's fun and profitable.
—Guest Mary Gallivan

think before you buy

It's so simple, but I truly believe you should think, think and then think again about every purchase you make. You might think of another or new way to do something that doesn't require you to spend money.
—thecheapskatemom

Financial Advice

Know your spending habits-it's difficult to plan cut-backs if you don't know where your downfalls are! I agree with Terry...learn the difference between needs and wants. Which includes my last point; do we really need to make every call/sms we make? Cellphones are a huge money guzzler. Consider a prepaid plan as they are generally cheaper, and you can budget upfront for the month with no hidden costs and the ability to adapt your plan on a monthly basis depending on your circumstances. Tracfone and subsidiaries are still one of the cheapest options available on the market.
—Guest Laura F

3 Financial Tips I gave DD

1. Live below your means no matter what it is. 2. Pay with cash. If you can't pay with cash do without or find additional income. 3. Always save something. It can be $5.00 a week or $500.00 a month always have savings.
—Guest Bizeegal

Free way to make a Keurig lid for K-cups

The coffee machine at work is a Keurig and I love coffee, but I was spending too much on those small cups, so I made a lid out of a small spice container. Much cheaper than buying the $15 (or more) after-market design. A video how-to is at https://mail.cal-mum.org/exchweb/bin/redir.asp?URL=http://www.youtube.com/watch?v=xNL-L_XooA8%26feature=youtube_gdata_player
—Guest Kyle L.

best financial advice

Live below your means; cook from scratch; learn the difference between needs and wants; use it up...wear it out...do without.
—Guest Terry

Financial Advice

Spend less than you earn. Keep track of your income and spending.
—Guest Valerie T

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Your Best Financial Advice

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