Looking to Save More- What are your tips?

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Hello all. We are a Dave Ramsey family in Baby Step 7. Paid off everything with modest jobs. I have been listening to Clark for a long while and now really looking to tighten up budgeting to hopefully invest even more.

Recently, we followed one of Clarks suggestions and shopped out cell phone plans. Made the switch on Saturday with a big amount of savings. We are currently doing the same with out homeowners and car insurance as well.

Question for you all: What tips do you have to look for more savings opportunities? What have you done to drive more savings out of your budget?

Thank you.

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We shop at Savers and City Union Mission, companies that sells used merchandise.

We have driven our 2014 Prius V a little over 11years (142,0000 miles) and will continue to drive it until the car or dies.

We don’t rent other people’s money.

We pay cash for cars, real estate and large purchases.

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Citi Custom Cash CC= 5% cash back restaurants/bars. AAA Signature Visa CC = 5% cash back groceries. US Bank Cash+ CC = 5% cash back TV/Streaming/Utilities. Many other credit cards offer 5% back at gas stations, including Costco Visa.

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1- Record all your daily spending, every dime, including periodic items. Review your Credit Union/Bank statements and credit card statements to make sure to capture all expenses. Then review all of your budget items for possible reductions.
2- Pay Yourself First- pay for retirement savings, emergency fund and goal savings automatically at the beginning of each month. An individual who allocates portion of their budget to the pay yourself items will tend to be more effective at reducing expenses for the remaining budget items.
3- Dave Ramsey advice is good on paying down debt. I would not follow his advice on other financial topics including investing.

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You can use Quicken for this and it will give you a Dailey synopsis of your spending as well as analysis and summaries by product category, vendors etc.

Additionally I keep scanned copies of all my receipts.

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Ike, if you still have a huge cable bill, become a “cord cutter” like me. I don’t mean a “fake” CC where you end up with a bunch of streaming subscriptions. I only pay for internet and use Roku, Firestick and a lot of YouTube (Not YouTube TV).

With your older car drop full coverage down to just liability on your insurance. I think you’ll get a lot of good suggestions here.

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