We all know the traditional finance tips for saving and spending money. But what unconventional personal finance tip has worked well for you? After someone asks a popular online forum for the answers, these are the top-voted replies.
1. Be Careful About Who You Marry
One user warned, “Be extremely careful with who you marry. It will be your life’s most significant financial decision – treat it like that, as romantic as that is.” Another semi-jokingly added, ‘This is big. Now let’s talk about the wedding.”
2. Make a Dollar Amount Rule
Many agreed in the thread that setting a limit on what you’re willing to spend is a great way to use discretionary spending. For example, one said, “I made a rule. Anything over 50 bucks, I would have to wait a day. It stopped my impulse spending.” Should you buy too much, return some of them.
3. No Spend Months
True, many have heard of No Spend months. However, one user encourages you to choose a few months out of the year and commit to no spending. She elaborates, “My partner and I do ‘No Spend’ months several times throughout the year, and takeaways have been:
- The number of impulse items that you realize at the end of the month that you didn’t need.
- The amount of food you have in the back of a cupboard or bottom of the freezer has been sitting there for months.
- How much novelty you add to your life when you challenge yourself to avoid discretionary spending, you start getting quite creative when planning hanging out with friends and date nights.”
Many agreed that this might be tough, but it has proven to be helpful in their lives for the same reasons. Someone took it one further and volunteered that they alternate months.
4. Practice Health for More Wealth
Another explained, “Things that save you money in the long run if used properly:
- beginner’s cooking class to learn to cook your meals well
- gym membership/exercise equipment for maintaining a healthy body as you age
- joy for reading books/fiction – relatively inexpensive time, gaining new skills, excellent for brain health
All will benefit your finances and keep you healthy (arguably the most excellent form of wealth).”
Several people stated that walking saves money by not owning vehicles or using public transportation. One explained, “I walk almost everywhere. I have a 55-minute walk to work every day. People say I’m crazy.
Alternatively, the bus takes 30 minutes, including my walk to the stop, and driving takes 15-20. So at most, I am costing myself 1-1.5 hours per day by walking, and I am getting great exercise, and it’s free. It seems like a no-brainer to me, but yeah, apparently, I’m the crazy one!”
6. Quit Smoking
Quit smoking! Easier said than done, right? Have you honestly tried? Someone volunteered, “I was a heavy smoker (pack to pack and a half per day) for many years. Fourteen years ago, I quit for good.
When I did, I opened a new savings account. I started transferring or depositing the daily amount I’d normally spend on cigarettes. In two years, the amount in that savings account accounted for almost 70% of what I used as a down payment on my first home!
Smoking takes an enormous toll on physical and financial health – burning money. So quitting has been my biggest financial hack, a massive game-changer.”
7. Quit Spending Real Money on Games
Speaking of games, stop spending real money for fake money with in-game purchases. One noted, “Shoutout to whoever hacked my MapleStory account, which I had paid roughly $2000+ on without realizing it!
As a result, I could quit and focus on school!” Several others admitted they had spent real money for fake cash for games on their phones.
8. Put One Item Back
Another confessed, “When I go to a store, I always put one item back in my basket before checking out. It keeps me from getting things I didn’t go there for, but I thought it was a great idea. It directly counters the psychology stores take advantage of in their layouts.”
9. Hot Showers at the Gym
One user volunteered, “Taking hot showers at the gym saves on the water bill and keeps my washroom a little cleaner.” Several loved the idea, even adding they hate cleaning their tubs. So they would try this hack.
10. Move Saved Money to Savings Accounts
Finally, one shared, “When buying something on sale, I move the money I saved from the sale price to my savings. For example, an item for $125 is on sale for $100. So I’ll move the saved $25 into my savings account.”
12 Frugal Meals People Eat Even When They’re Rich. Do You?
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When money isn’t a problem, people tend to indulge in all sorts of luxuries they couldn’t afford when they didn’t have excess money to spend. However, sometimes, even when money is easy, there are food items you can’t say “no” to. Here are some of the most addictive, economical meals you can eat, even when money is no issue.
12 Grocery Store Luxuries That People Love To Treat Themselves With
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Sometimes, grocery shopping can be a chore. It can feel like just one more thing to get done during the week, so you don’t have to worry about it during the weekend. When money is tight, it can be even more overwhelming to try and get the best deals on food until you get to that one item you can’t resist. We all do it, splurging on that one food item we can’t do without. To that end, here are some of the most luxurious food choices people must have.
12 Dream Treats People Would Splurge on if Money Were Infinite
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Imagine a reality where your bank account was bottomless and financial constraints vanished. What would you choose to splurge on? Here are 12 dream treats members of an online forum would throw their money at if money were no object.
10 Frivolous Things People Spend Their Money On When They Could Be Saving
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Are you spending your money frivolously on stupid things when dealing with a tight budget, or saving more for emergencies? We all do. Door Dash and Uber Eats? Need I say more? Between the higher menu prices, delivery fees, and tips, you can spend $35 on a single sandwich!
It’s absurd, and yet so many people do it. Worse, they know it’s a waste of money but will continue using the services. I’m guilty of using the delivery apps myself. Someone recently asked on an online forum for other examples of dumb things people waste their hard-earned cash on, and these are the top-voted responses.
Lovingly Limiting Loans: 10 Wise Ways To Set Money Boundaries With Family
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Family ties are undoubtedly some of the strongest bonds in our lives. We share laughter, create lasting memories, and support each other through thick and thin. However, navigating boundaries can be complex when it comes to financial matters. Here are 12 wise ways shared by members of an online forum to set monetary limits with family members.
This article first appeared on The Cents of Money.
With a passion for investing and personal finance, I began The Cents of Money to help and teach others. My experience as an equity analyst, professor, and mom provide me with unique insights about money and wealth creation and a desire to share with you.