Best ways to save money

Discussion in 'Growing and Managing a Business' started by KeithM., Jun 12, 2010.

  1. BizDoc

    BizDoc
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    Best way to save money I've found

    He's referring to the time value of money because inflation eats away value. So you don't want to stick money in a non-interest bearing account or stuff it in the mattress.

    However, you can keep better pace with inflation if you put your money in low-risk instruments like money market, CD, other fixed income/bond accounts. If you know what you're doing you can add index funds (I personally think mutual funds are a ripoff but YMMV) and equities. Then you'll keep pace with inflation.

    Best way to save money I've found: have it removed automatically from your check and whisked away into a savings account. Use a money market or if you're sophisticated a stock or DRIP. Don't look at it and don't think about it. Pretend it doesn't exist except for every year when you rebalance your portfolio. You can accumulate a tidy sum this way.

    Regards,
    Chris
    the Business Doctor
    bizmd AT emailias.com
     
  2. 50Cent

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    Just think twice before using your money because it also prevents you from spending your money anyhow. And only use money when you are in urgent situation/needs. Example, you have 100 dollars in your paypal and it is only for your business use so you would not use the 100 dollars to go and buy your personal stuff right? You can also use GekiDan method.
     
  3. pixelbob

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    Correct, always think twice before you spend your money. Always think if it is necessary to spend your money on it or is there a return of investment. There is a big difference between needs and want.
     
  4. Mountain Man

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    Actually money saved is better than money earned. If you earn $1000, your spending power is really only $500-$800 because you first pay tax on the earned money. If you save $1000 this is before tax.
    We spend a lot of money on things we don't need. Decide what is important and what is not. A budget is a great idea. If you use a laundry mat is the dryer wasted money? You could take your clothes home and dry them over a chair, but then you have wasted time which could have been used somewhere else.
     
  5. WebWizard

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    Save money by avoiding the middle man as much as possible :p goto the source & work a deal! The economy now allows you to bargin more then ever, get in touch with the right person & experience the savings. Network Network Network people!!!!!!
     
  6. FunPromo

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    You can set up a weekly meeting with your employees. Have them come up with one idea on how you can save money and/ or be more efficient. Its a great idea because everyone thinks differently so you will actually generate some great ideas!
     
  7. agentmanningctu

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    Stop spending money on useless things. Only buy what you need.
     
  8. WebWizard

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    I do alot of buying in the online marketplace, so regardless lookout for promotional codes, coupons or discounts with certain vendors rather online or not, every dollar saved add's up :)
     
  9. Fergal

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    That's a actually a very good point, if you are registering a domain name, buying hosting or a script, you should always search for coupon codes before completing your purchase. I recently purchased a script and managed to save 25% of the cost price, just by doing a quick search on Google for a coupon code. If you see a field for coupon / discount / promotional code in any shopping cart, search the web for some codes and try entering them to see if you can get a discount.
     
  10. GekiDan

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    I tried to do that when I bought off something from an online shop.
    Unfortunately, the coupons sites don't have any working coupons avaialble. I tried everywhere and still no luck. :(

    Luckily, I still got some earnings as their affiliate so I used it and good news, I saved at least $14 on my purchase. :D
     
  11. WebWizard

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    Saving Money is key for any business so you don't lose potential coverage, consumer support or profit :) Afew dollars here & there add up, I own many many domains that saves me $100s yearly lol. Make sure you capitalize on any available resource!
     
  12. Fergal

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    How do you save money by owning domains?
     
  13. rapidbilling

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    Ways to save money

    That's really good. I APPRECIATE YOU FOR YOUR THIS THOUGHT.

    By the way, there are lot of ways to save money, but if you follow these then also you are able to much enough money. :rolleyes:

    • Just use public transportation, if possible, this will save your money of petrol and it is also useful to reduce pollution.
    • If the place is near then go by foot and don't use vehicle, these is like one kind of jogging and also beneficial for health.
    • When you go to market , just purchase the grocery and fruit and vegetables for a week whole.
    • Avoid the junk food and drinks of restaurants and hotels.
    • And deposit some amount of your pocket money or from your salary or income in your bank account or in some saving scheme.
    This will save your lots of money. :D
     
  14. MichaelSullivan

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    How to Save Money?

    There are many articles written on how to save money but I'd like to know specifically from the members here on how they try to save money? Do you think it's of necessity? Is it fun just to spend all the money you worked for?
     
  15. Fergal

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    Similar threads merged! Michael there are some tips in the earlier posts of this thread that you might find helpful.
     
  16. Kay

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    I think about how many equivalent hours I'd need to work to buy whatever it is. Not that I've ever really been a frivolous buyer but thinking of it as $cost = x hours of work often keeps my hand in my pocket when it's not a necessity. :)
     
  17. MichaelSullivan

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    Oh thanks, Fergal. I've read all the posts and thanks for everyone's insight. I hope to save more money by the end of the year. Thanks.
     
  18. mv5869

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    You can't make a business by saving money. Business is about Sales. You need to get someobody to hand over their hard-earned cash for the goods or service you are providing them.

    Given that this is a web-based marketing forum, why not start a site on money saving ideas. Its been done before but even a small slice of the referrals market could bring you some hadsome rewards
     
  19. GekiDan

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    Basically, for me, it's hard to save money if I have available funds on my Paypal account. Why?
    The more money I see on it, the more I like to spend it on things I want.
    To prevent that, I regularly withdraw some funds to my bank account to keep it from getting spent. Then when there's enough money left, I used it to reward myself.
     
  20. Stephany297

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    I am having a baby soon so I want to start saving up money for his college, money for a house and just extra emergency money. What would be the best way to do this? I don't want alot of restrictions, I just want to be able to throw money in, and let it grow.
     

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