How do I save money?

March 9, 2006 2:33 PM

What are some of the little things that you did that ended up saving you a lot of money in the long run?

I have a few thousand in credit card debt, $900 bucks to pay in taxes this year, and need to save a couple thousand dollars in as short a period of time as possible. I doubt I can do it in a very short period of time because of my spending habits, but I'd like to hear from people in similar situations who managed to pull it off.

So far, I've decided to sell a few things to pay off some of the credit card debt, but not enough to cover that much. I have four accounts with anywhere between 500-1500 in balances on each. Is there such thing as consolidation for that small of an amount?

As far as saving goes, obviously eating out is out, going out to the bar on the weekend is out, stopping at Target on lunch break at work is out. Reduced Netflix to the 1 at a time plan. Cellphone bill is as low as it can go, and I don't have a landline anyway. I pay a small amount to my roommates for satellite and cable internet. I've set up a savings account to automatically grab $75 from my paycheck every two weeks. Working on the budget.

What else can I do that I'm not thinking of? I'm aware that this is a somewhat redundant question, but previous questions seemed more focused on a homeowner rather than someone in my situation (a renter looking to save a certain amount of money).

posted by cellphone to work & money (94 comments total)

You're paying for both satellite and Netflix?
posted by grouse at 2:36 PM on March 9, 2006

Stop buying things? Eat cheaper food or cook your own meals rather than buying expensive ready meals, go out less, move to a cheaper place?
posted by Orange Goblin at 2:39 PM on March 9, 2006

I know this may sound really silly, but I am always amazed by how much money my husband and I manage to save in our change jar. We empty our wallets/purses/pockets out at the end of the day, and once a month we go dump it all in the cointree machines, and bingo! We have upwards of a hundred dollars. In our case, we usually blow it on sushi, not bills.
posted by msali at 2:43 PM on March 9, 2006

I do most of these things. It's become second nature and pretty simple over time and it means a lot less working at jobs I hate and crisis budgets

- stop using your credit cards completely
- switch to generic everything
- stop eating meat
- switch from juice or soda to tea or water
- stop drinking/smoking or stick to happy hours and a serious smoking reduction
- never purchase any coffee that isn't in drip or bean form, the more you drink at home, the more you save
- cancel your magazine subscriptions and anything else you subcribe to or pay for regularly that isn't a necessity
- don't buy ANY clothing, music, junk food, books, accessories
- don't travel anyplace or if you do, only do it if it's a discount ticket and you stay with friends
- take your car off the road and uninsure it. explore public transportation options
- examine your bank account for fees you don't have to pay, never be late with paying bills to avoid late fees
- get a friend to cut your hair or try barber college
- sell off technology that you don't need or use

It really sounds like you're doing mostly fine as it is. I usually have a set amount of walking around money that I take out at the beginning of the month and try to live within. Doesn't always work and I'm not harsh on myself when I have to take more out, but it does make me very aware of how much I'm spending.
posted by jessamyn at 2:44 PM on March 9, 2006

What saved me a lot of money was cancelling cable, but that doesn't sound like an option for you. Also, driving less.

Can you get any freelance work? A weekend retail or waiter job? An informal consulting gig?

What have you been buying that's sucking up all of your money? There's much to be said for allowing yourself a little bit of indulgence in sticking to a plan. If you used to eat out/go out/spend-money-on-whatever five nights a week, cut it back to one.
posted by desuetude at 2:44 PM on March 9, 2006

jessamyn: how do you get by without buying ANY clothes? don't they wear out eventually?
posted by sid at 2:49 PM on March 9, 2006

* take backroads instead of the tollway (this actually saves me $6 daily). Obviously only applies if you currently take a tollway but don't have to

* This is probably a bit of a psychological one: every month, I put as much into savings as I can the instant I get paid. Generally I have a particular amount in mind (say 10% of my wages) and I'll jam it in there on payday. It's easier to say "no" when my bank balance doesn't have extra money in it. I usually end up having to transfer some of the money back into checking, which I do *grudgingly*
posted by RustyBrooks at 2:55 PM on March 9, 2006

* This is probably a bit of a psychological one: every month, I put as much into savings as I can the instant I get paid. Generally I have a particular amount in mind (say 10% of my wages) and I'll jam it in there on payday. It's easier to say "no" when my bank balance doesn't have extra money in it. I usually end up having to transfer some of the money back into checking, which I do *grudgingly*

I like this idea the most so far. I'll be writing responses in a while to your replies.
posted by cellphone at 2:57 PM on March 9, 2006

I have jobs that don't require new clothes and the ones I need are hand-me-downs, cast-offs or the occasional thrift store purchase. I am not very fashionable. I also buy junk food sometimes, and a lot of books at library booksales. I buy shoes new, every few years. My point was mainly that it's possible to reign in spending in the short term a pretty extreme amount without living in a box under the highway.

The difference between moving Netflix to once a month and cancelling Netflix is $120 a year. Smoke a pack a week and that's $350 a year conservatively. Latte a week: $150 a year. Three beers a week $500 a year. There's your $900 for taxes right there. I think people should do what they want with their cash generally, but there are small things you can do that make a big difference over time.
posted by jessamyn at 3:00 PM on March 9, 2006

From hard experience I believe the only way to figure out if there is any significant fat left in the diet is to record everything - everything - in a spreadsheet or finance program. I have a special designator for non-essentials so I can sort and separately examine those. Keep a notebook, get receipts whenever possible, try to do 10-15 minutes of bookkeeping a day to keep it current (you'll never keep it up otherwise, at least I can't).

Snacks and junk and small cash expenditures are one thing that often kill me and they are the hardest to see unless you keep exact track.

If you are very careful and read all the small print, you can save a lot by shopping for a better deal on your credit debt. Pay attention to those transfer fees and finance charges and penalty triggers and "trial periods," but man, I've saved THOUSANDS over the last few years by carefully shopping low rate, fixed rate, low or no transfer fee balance transfers. I know exactly what I'm saving becuase I do the same sort of spreadsheeting on my card debt: I read and record my balance, interest rates, and finance charges every month and constantly review how I'm doing and what that debt is costing me (it's a great incentive to pay it off).
posted by nanojath at 3:01 PM on March 9, 2006

- stop eating meat
--

Uh, why? Vegetarian agenda? 1lb of ground beef + spaghetti sauce + noodles = $5 meal that will feed you for days.

A better idea is "cook at home, bring leftovers for lunch."
Dunno about the "uninsure the car" one either. Sometimes public transportation isn't as cheap as people try to make it sound. For example, my car is paid off. If I am going to & from work and nowhere else, I spend about $50-$60 on gas, and insurance is only $70. A 'flash pass' for VTA is over $60 by itself. Sure, it's cheaper, if one considers their time to be free. Using public transportation instead of driving may save me $60 a month, but it's adding about 2 hours per day to my commute. That's 10 hours a week that I could be doing other stuff, including working at a part-time job. (or in my case, going to school.)

There's a huge difference between being frugal and living like a pauper.
posted by drstein at 3:02 PM on March 9, 2006

How about earning more money? Part time job (bartending) takes a night which you may spend money into a night where you make money.

Tutoring? Helping other people out? Baby sitting? What skills do you have? In glorious capital economy, you sell labor!
posted by lalochezia at 3:12 PM on March 9, 2006

As Jessamyn said, don't buy any new clothes or shoes. If you absolutely must replace something, shop at thrift stores.

Get your reading material from the public library.

Sell your car, if you have one, and take public transportation or ride your bike. If you take transit, see if a monthly pass is available. It's often cheaper than paying single fares if you ride 2 - 3 times per day.

Brown-bag your lunches at work. Explore the wonderful world of vegetarian cooking (personally, I love the Indian way with vegetables and legumes - I'm an omnivore but I find Indian vegetarian food very satisfying and never feel like I'm missing something). Cook yourself a big yummy batch of vegetable pilau or whatever and immediately stash 1 or 2 portions in containers for lunch. Do it before you sit down to eat and it won't be such a big deal to pack your lunch.

Find activities or social scenes that don't cost much. Instead of meeting friends for drinks, invite them over to play scrabble or something. Meet at places with no admission or cover charge: friends' homes, parks, museums on free admission day. Avoid shopping malls and other places that exist to part you from your money.
posted by Quietgal at 3:14 PM on March 9, 2006

If you work away from home, jot down your expenses for a week, then examine them. That's where you lose a lot of control over costs. F'rinstance, car-pool with coworkers, or use craigslist to find people who have similar commutes. Avoid the morning java unless it's provided by your company. (At the very least, switch from Freakinfrappulattecino to drip.) Brown-bag it for lunch.

When you plan to go out, you know how much you'll spend at a restaurant or theater. But the daily grind is deceptive: it will add up much faster than an occasional splurge, because — for most people — you'll multiply your daily out-of-pockets by at least 5 each week.
posted by rob511 at 3:14 PM on March 9, 2006

ramen noodles, 10 for $1. And the way I usually cook it is to toss out the water, and just eat the noodles, dressed with a couple teaspoons of oil and the flavor packet mixed in the bottom of the bowl, and a some frozen vegetables.
posted by crunchland at 3:15 PM on March 9, 2006

Debt is an amazing thing. There's so much meaning packaged into the ways we spend money.

This is obviously more than you asked for, but I know people who have been incredibly helped by going to Debtors Anonymous.

I know lots of people hereabouts don't like 12-step groups, and all that. All I can say is that it's free, no obligation, you'll meet people who are struggling with some of the same issues as you, and you'll have lots of support around not spending money. This is no small thing, since virtually everything in the society is about spending, spending, and more spending.
posted by jasper411 at 3:23 PM on March 9, 2006

The one thing that has helped me reduce my spending is to keep track of every cent I spend. I do this with Quicken, but it can be done with nothing more than a paper notebook.

If you keep track of your expenses by category, and then tally those categories each month, it's easy to see how much money you're blowing on useless things.

A good book to read to help you out is Your Money or Your Life. It sets out some really good ways to live simply and reduce your spending, with the ultimate goal of total financial independence (an investment income that exceeds your expenses).
posted by gwenzel at 3:28 PM on March 9, 2006

Earn more money. That's a serious suggestion, by the way.
posted by unSane at 3:29 PM on March 9, 2006

What are some of the little things that you did that ended up saving you a lot of money in the long run


Making my own sandwiches for lunch for both work and college. Over the years, a rough calculation gets me around $10K ahead.

I do like the odd Hunan sometimes though...
posted by meehawl at 3:29 PM on March 9, 2006

This will sound silly, but it worked for me.

I saved a huge amount of money last year while my wife and I were addicted to World Of Warcraft. It's $15 a month, and you don't ever do anything else. You don't want to do anything else. You are very happy not doing anything else.

We saved almost $1000 a month without even trying. And with zero belt tightening. Cooking took too much time so I ended up eating lots of soup, which is pretty cheap to make in bulk and keep on hand. We only left the house to work. Other than our desks, the house never got dirty, so we saved on cleaning supplies. All those little sorts of things add up. Gas. Movies. New clothes. Gifts. Etc.

Now that I'm getting out of the house and cooking again we're having to relearn things like budgeting. Last year the money just piled up without us noticing.

It's not healthy, and people will laugh at you. But withdrawing from reality can be a huge savings.
posted by y6y6y6 at 3:36 PM on March 9, 2006

Spend your weekends doing medical testing .
This will simultaneously remove your weekend spending , earn you pretty good cash , and be exposed to new and possibly harmful drugs .
It's a win-win-lose proposition!

But seriously, finding some way to earn money on the weekend is the best way to really improve your earning/spending ratio
posted by grex at 3:42 PM on March 9, 2006

I feel the need to respond, even though it's largely unneeded:

You're paying for both satellite and Netflix?
posted by grouse at 4:36 PM CST on March 9 [mark as best answer] [!]

I can't watch movies like Ichi the Killer and Zardoz on a regular basis on dish, and need to watch BSG. I believe living with no luxuries would just lead to over-spending at a later point, much like simply not eating in an effort to lose weight.


****

I know this may sound really silly, but I am always amazed by how much money my husband and I manage to save in our change jar. We empty our wallets/purses/pockets out at the end of the day, and once a month we go dump it all in the cointree machines, and bingo! We have upwards of a hundred dollars. In our case, we usually blow it on sushi, not bills.
posted by msali at 4:43 PM CST on March 9 [mark as best answer] [!]

This is also a good idea, though I spend little cash, mostly using my check card. Perhaps using small amounts of cash for small purchases is in order.


****

do most of these things. It's become second nature and pretty simple over time and it means a lot less working at jobs I hate and crisis budgets

- stop using your credit cards completely

a good idea, which I've now done by hiding them (I won't cut them up, as I may need the numbers themselves for resetting my online login, etc)

- switch to generic everything

A good idea.

- stop eating meat

I think this is a bad idea. I'm not knowledgeable enough about replacing protein and my personal beliefs are that people are meant to eat meat, to a reasonable degree. I don't think meat is prohibitively expensive.

- switch from juice or soda to tea or water

I already drink an abundance of water at work and purchase no soda. I purchase one gallon of orange juice from time to time.

- stop drinking/smoking or stick to happy hours and a serious smoking reduction

Good ideas, though my drinking isn't excessive, and I don't smoke.

- never purchase any coffee that isn't in drip or bean form, the more you drink at home, the more you save

The only coffee I drink is at work, where it's free. :-D

- don't buy ANY clothing, music, junk food, books, accessories

I take issue with this. I work in a professional environment, and wearing mismatched and faded clothing isn't something that I'm willing to do.

- take your car off the road and uninsure it. explore public transportation options

I work in the suburbs and live in the city, on 2nd shift. Definitely not an option. Committing insurance fraud by register my car at my parents' address in Iowa and insuring it there is. What are the ramifications in practice, rather than theory?

- examine your bank account for fees you don't have to pay, never be late with paying bills to avoid late fees

Something I need to do. Thanks for the reminder.

It really sounds like you're doing mostly fine as it is. I usually have a set amount of walking around money that I take out at the beginning of the month and try to live within. Doesn't always work and I'm not harsh on myself when I have to take more out, but it does make me very aware of how much I'm spending.
posted by jessamyn at 4:44 PM CST on March 9 [mark as best answer] [!]

Thanks for your response, though I disagree with some of it, it sounds like you have your finances in order.

****

Stop buying things? Eat cheaper food or cook your own meals rather than buying expensive ready meals, go out less, move to a cheaper place?
posted by Orange Goblin at 4:39 PM CST on March 9 [mark as best answer] [!]

The incentive to save money is actually moving to a cheaper place, although it's not in this area so moving will cost a bit.

--------

Sorry for the weird formatting, as well as sounding like I'm defending myself. I'm trying to give a better picture of my particular situation so I can help you formulate responses. Thanks to everyone so far.
posted by cellphone at 3:43 PM on March 9, 2006

But seriously, finding some way to earn money on the weekend is the best way to really improve your earning/spending ratio
posted by grex at 5:42 PM CST on March 9 [mark as best answer] [!]

A good suggestion, but what do you advise besides joking about medical testing? My background is general IT with some rusty web development and light Unix skills. It would probably have to be something home/online based, which is a pipe dream, generally.
posted by cellphone at 3:45 PM on March 9, 2006

Are your credit card interest rates as low as possible? Is your credit score good enough for you to wrangle lower rates?

Call your credit card providers and say "I want to pay my debt in full. I don't want to declare bankruptcy or switch my balance to another company. How much can you lower my interest rate so that I can stay with you?" This will get their attention, and they will usually bend over backwards to try and lower your interest rates.

While we're at it, ditch any credit cards that offer you miles or points in favor for the lowest rates possible. And your automatic savings plan might be better spent by devoting that $75 every 2 weeks to bringing your debt down. It's silly to be earning a paltry 4% or whatever when you're paying 19% on your debt.

And along the lines of msali's suggestion about your spare change, there's a national bank that's been advertising a plan they have where they will round up all your purchases to the next dollar that you make with their debit card and deposit the money into a savings account for you. Further, they'll match your savings for the first 3 months, up to $250. Sounds like free money to me.
posted by crunchland at 3:46 PM on March 9, 2006 [1 favorite]

I think jessamyn had some really good suggestions; I can only assume that since you didn't respond to them, you're already implementing them.

One suggestion is a combination of jessamyn's and nanojath's. Keep close track of what you are spending your money on; keep every receipt and once a month add it up in categories that make sense to you. This might help you pinpoint what your particular spending weaknesses are, and where you can save money.

To address some of the other suggestions:
-Ditch the Netflix. Your satellite provider might offer some free on-demand movies anyway.
-Library! In addition to free book rentals, libraries often have surprisingly good DVD selections for rent! Some libraries charge $1 for DVD rentals, but not all.
-Pack out. Yes, pack a lunch every day; that saves big money over time. But think about also packing snacks and/or water every time you go out, so you don't buy impulse items after being stuck in traffic.
-Drink in. Alcohol is pricy. Drinks at bars and restaurants are VERY pricy. If you still want to drink, stay in for it, and invite friends over. Make it BYOB, so the booze comes to you. If you call it a "Beer-Tasting Party", people won't think you're cheap.
-Buy cheap food. No pre-packaged goods from Whole Foods. Consider joining a wholesale club with your roommates.
-Turn down the heat at night, if you pay for your heat.
posted by Sprout the Vulgarian at 3:46 PM on March 9, 2006

Something menial but not totally soul destroying,like restaurant work, any odd jobs that come up among your friends ,if you travel somewhere take out a classified for for people to pay the gas and a bit more.
posted by grex at 3:49 PM on March 9, 2006

I'll second y6y6y6. Neither of us are in debt, but I do occasionally spend too much at the bar on weekends. For the past two weeks, my partner and I have done nothing but blaze through a season and a half of Lost, and I was amazed at how much I saved by sitting on my ass. Also, WoW is mostly responsible for my partner's thrifty lifestyle, as well.

I also don't buy clothes - mostly hand-me-downs and the occasional thrift store piece. I'm in school right now, so that works for me, but I do have a box of work clothes for when I pick up work again. I also just don't buy much, in general. I make bulk meals and a lot of my cleaning supplies/toiletries. For a long time, I wanted free weights, but I made do with kitty litter + milk cartons. Books are from the library. I have a side job which enables me to get into a lot of local music shows for free; otherwise, a big chunk of my money would go there. (That's another tip, really - if you have something similar you like to do often, get in friendly with those at the establishment.)

I grew up in a house where money was spent rather carelessly, so my lifestyle now may be a direct rebellion to that. If you've also cultivated that lifestyle, it's not going to be easy or feel natural for a while. Starting with the savings account is a good idea, and then if you want to keep saving money, make a change every few weeks or month or so. It'll seem small, but it'll give you more time to get used to a sparser lifestyle. I cultivated the cooking/making/not buying over a matter of four years, and it's difficult to imagine being any other way now.
posted by Zosia Blue at 3:49 PM on March 9, 2006

Oh, and if you do go out and feel like drinking? Get a flask. When I'm feeling cheap, I just fill it up with whatever liquor I have around, and sneak it in with me. A chance of getting kicked out, I suppose, but I've been okay so far.
posted by Zosia Blue at 3:52 PM on March 9, 2006

I'll echo some other points that have worked for me (or close friends):

1. Track every expense, down to the penny, for at least a couple month. I just did this in a simple Excel spreadsheet, and it was instructive.

2. Buy in bulk. EG, I drink a lot of coffee, and now buy it in 2.5 lb bags at Costco for cheap. Ditto lots of other stuff at Costco.

3. When you're shopping at Costco, stick to your list.

4. Prepare food for the week in bulk. EG, you can roast a bunch of chicken breasts at once, freeze most of them, and not need to think about it for the rest of the week. This is also a timesaver, but if you think of your weekly menu in advance, you can think of ways to make it better and cheaper (without necessarily being reduced to beans'n'rice 7 nights a week).

5. Netflix? Are you kidding?

6. Talk to your bank and see if they can offer some kind of loan to pay off your credit cards. If you can put up your car as collateral, you may be able to get a decent rate on the loan. This could make a big difference in your monthly payments. Alternately, if that doesn't work, see if you can get a credit-card offer with a low-rate balance transfer. Use that, and then pay it scrupulously on time.
posted by adamrice at 3:53 PM on March 9, 2006

5. Netflix? Are you kidding?

Take my booze, take my candy, take my soda, take my Perkin's, but for fuck's sake LET ME HAVE MY GODDAMNED UNLIMITED DVDS FOR TEN BUCKS A MONTH.
posted by cellphone at 4:00 PM on March 9, 2006

- stop eating meat

anecdote: my gf and i are on a budget right now, and she's all vegetarian-organic-etc, but she's alloted 1.6x as much as me for food because that stuff costs like a billion dollars. not like being vegetarian makes you buy fakemeat steak strips, but it helps! if you're a Good Cheap Vegetarian and live off of red onions and potatoes, though, I can see where the savings would come in.

my advice is: EAT PASTA. oh lord eat pasta. a container of angel hair will last you like five years and cost like 99¢. and do the counting-up-your-expenses thing, you MIGHT find out that you spend like $120/week at the grocery store.
posted by soma lkzx at 4:12 PM on March 9, 2006

I make my own beer. It tastes great, perhaps not quite as great as store-bought, but at 20c a pint, you don't sweat the difference. Roughly $50 to get started.

And I saved up a ton of money in change once just by always putting a certain denomination (the $2 coin) into a piggybank. Whatever money I had in $2 coins was off-limits, everything else I could spend.
posted by AmbroseChapel at 4:20 PM on March 9, 2006

Yeah, keep the netflix. There's such a thing as living too close to the bone, and there's no reason to make yourself completely miserable over something that costs .30 a day.
posted by crunchland at 4:20 PM on March 9, 2006

and need to watch BSG

I'm about to sell my TV because I hardly watch anything on the set. You can get everything by torrents. Download utorrent and pass the EZTV, VTV, and CTV rss feeds to the RSS downloader. Set up the filters to download your favorite programs. Cable gone!

I have four accounts with anywhere between 500-1500 in balances on each. Is there such thing as consolidation for that small of an amount?

As nanojath hinted, you can find credit cards with no balance transfer fee, no annual fee, and zero interest rate for introductory periods. Stick with a reputable bank - some shady ones will slam you with high rates after the intro period. Transfer the balances over and put yourself on a firm monthly payment schedule and don't put any new charges on it.
posted by junesix at 4:24 PM on March 9, 2006

I'm about to sell my TV because I hardly watch anything on the set. You can get everything by torrents. Download utorrent and pass the EZTV, VTV, and CTV rss feeds to the RSS downloader. Set up the filters to download your favorite programs. Cable gone!

The cable wouldn't be gone, since all of us roommates chip in for it. I'd already considered it, but there's no point since I only pay $20 a month for internet+satellite.
posted by cellphone at 4:28 PM on March 9, 2006

As nanojath hinted, you can find credit cards with no balance transfer fee, no annual fee, and zero interest rate for introductory periods. Stick with a reputable bank - some shady ones will slam you with high rates after the intro period. Transfer the balances over and put yourself on a firm monthly payment schedule and don't put any new charges on it.
posted by junesix at 6:24 PM CST on March 9 [mark as best answer] [!]

Is this still possible with bad credit? My score is high 500s, last I checked. I've never been able to get a limit higher than $1500 or so.
posted by cellphone at 4:30 PM on March 9, 2006

I had - and enjoyed - Netflix for years, but at the 3-at-a-time level. I don't really understand how 1-at-a-time is worth it. It seems like there's a lot of downtime between shipments that way. But cellphone, it sounds like you're married to it.
Would it be possible to split the cost with your roommates? You could probably save money, even with a bigger plan, that way.

Also, I suggest you find the best credit card APR of the cards you have, and transfer all the other balances to it, so all of your expenses appear on one bill where you'll see them all at once.
posted by Sprout the Vulgarian at 4:30 PM on March 9, 2006

Scavenge local food. Sure, not an option in a lot of places, but here in California I'm always amazed that people pay for lemons, when there's trees everywhere. And now, it's naval orange season -- I know of several reliable trees (but don't assume they all produce edible fruit). Harvest a bunch, make your own OJ.

When my brother lived in North Carolina, he'd bring me large bags of pecans from his tree.

And of course, condiments from fast food restaurants. I tried for a while living off sugar packets that way, but eventually stopped because I felt bad wasting all that paper. But I hardly ever use ketchup, and so never buy a whole bottle.
posted by Rash at 4:36 PM on March 9, 2006

I wrote up a three-part series (1, 2, 3) on another forum (warning: people on there have NSFW avatars) that basically outlines everything I learned about getting out of debt, though my own experiences. It got a pretty good response.

A lot of it is based on this article from The Motley Fool (which has a lot of good financial info).

One strategy I don't mention in there that worked for me was to pick a maximum balance I'd keep in my checking account. Each time I got paid, I'd take anything over that maximum and transfer it to my savings, then deposit the paycheck. Combined with reducing my spending, it worked out really well.
posted by CrayDrygu at 4:37 PM on March 9, 2006

You mentioned that completely eliminating the car is out. You can sell the car, and buy a cheaper one or a motorcycle (which are extremely inexpensive). This works better if you've got an expensive car, of course.

There's always sperm or plasma donation.

Coupons can save you tons of money if you buy the right groceries. Generics are more expensive than a name brand that's on sale with a good coupon, doubled (more of a West Coast phenomenon, doubling is). We sometimes buy 5 newspapers if it's a good week for coupons.

The easiest way to save that kind of money will be to increase the amount automatically taken out for savings. This is by far the most effective for most people--it just ceases to exist for discretionary spending (Unless you raid your savings. Don't.) You can't spend it if it's not immediately accessible.
posted by RikiTikiTavi at 4:37 PM on March 9, 2006

you can really make a good deal of money in a short amount of time by delivering pizza, the tips are usually pretty good. Waiting tables on the weekend also brings in good tip money.
posted by webtom at 4:38 PM on March 9, 2006

Set up a minimum automatic payment for your credit cards. Even if you plan to pay more every month (and you should), paying the minimum automatically every month before the due date is imperitive. One late payment is enough to keep your credit score in the shit hole, and drive your rates up to the sky. (Ironically, the credit card companies seem to enjoy reaming the people least able to afford their services. Why is that?)
posted by crunchland at 4:39 PM on March 9, 2006

Many, many good suggestions.

First - you asked about the practical implications of insurance fraud - the risk is that your insurance carrier investigates and voids your insurance (note that this will be done AFTER the major accident you're in where you are only 25% liable, but damages are in the millions... you get the point).

Next, tweak the clothing suggestions above. You can find very nice professional clothes second hand. A used necktie can often be indistinguishable from a new one, for major savings. Similarly, a used suit can be a great bargain. You have to go to an up-market used clothing store (you can find great buys in the cheaper places, but they are much more rare), but the advantage is that the clothes are often in great shape. (For guys, which from your profile, I am inferring you are - the good thing about your generation aging is that a lot of guys are gaining/losing weight, to the extent that otherwise nice suits no longer fit. I've purchased some great Boss and Armani suits for dimes on the dollar).

As for consolidation, the amount of money you are talking about is easily in the line-of-credit range. Interest rates on LOC are often much, much lower than credit cards, with the advantage that it will be an instant consolidation of all outstanding debt, and flexible enough to swallow your tax bill when due.

Good luck.
posted by birdsquared at 4:39 PM on March 9, 2006

On postview - hmm, didn't see your potentially problematic credit rating. Still, you can look around for a bank that may want to start up a relationship with a burgeoning professional - one day, you are likely going to want a mortgage or other money making banking transactions, and they'll want to have goodwill for it - and will maybe take a (minor) chance in giving you a LOC big enough to cover your current debts. They may want your car as collateral, though (it appears that it is paid off, as payments not listed in your schedule of debt).
posted by birdsquared at 4:49 PM on March 9, 2006

It's not paid off. :/
I somehow neglected to mention it.
posted by cellphone at 4:55 PM on March 9, 2006

I hate to cook. Cutting down on "convenience" foods was hard for me. Then I discovered the 99 cent store grocery section. Yes, many of you are cringing. But if you have a good chain (it's Jack's in NYC), you'll be amazed what you find if you pop in on a weekly basis. Mixed in with all the cheap-o junk, you'll find name brand stuff that's either been overstocked, discontinued, or packaged wrong.

I have a freezerful of SmartOnes and Healthy Choice frozen meals (lunches at work), frozen perogies, Pillsbury Ready to Bake Cookies with Reese's Pieces, strawberries and blueberries for smoothies. In the cupboard there's Kellogg's Lilo and Stitch cereal (like Lucky Charms with chocolate puffs), off brand instant oatmeal (tastes just like Quaker), and Green Tabasco Cheez-its. All for 99 cents a pop. They also have staples like milk and eggs. Even when I buy as much as I can carry, I never spend more than $20.

This has significantly reduced by grocery bill (I still pick up veggies and fruit at the green grocer), and I save money even though I eat out about 5-6 times a week.
posted by kimdog at 4:56 PM on March 9, 2006

you can really make a good deal of money in a short amount of time by delivering pizza, the tips are usually pretty good.

Beware: depending on the way you are paid for delivering pizza, it can actually be a money losing proposition (or barely better than break-even), as it is possible for the wear and tear (and depreciation) that can result from putting so many stop-and-start miles on your car in a short period of time.

(Not to mention fuel costs, although some pizza places do pay fuel costs for their delivery drivers...)
posted by dersins at 5:05 PM on March 9, 2006

The best suggestion I have is to really focus in the short term on getting that debt consolidated on a single 0% interest card. If you have a decent credit rating this will be easy. And you will save a huge amount per month. Huge. You might have a not-so-great credit rating, but you can probably swing something very close to 0% just by telling your bank that you're thinking of moving.

For me, the single greatest money-saving strategy has been avoiding interest charges, finance charges, late charges, and so on. Look at your bills and you'll see how much you could be saving--probably at least $100 a month. Make sure, if you are, that you never pay anything late again.

Other things that have worked for me:

- I haven't found that solutions like "buy in bulk" are effective, at least not in my case, because I care too much about buying fancy good-quality veggies, for example (I like to cook). But I *do* have a checklist of food that I buy in one place versus another to save money. All of my canned goods, for example, come from Trader Joe's, which is good but cheap. So, one trick is to diversify your buying habits, rather than getting everything in one place. This is a general principle that's saved me lots of money on food, drinks, office supplies, and so on.

- I've rationed my 'pleasure' expenses, like CDs or clothes, on a monthly basis. Decide beforehand on some sensible ratio: 1 CD every two weeks, one new clothing item every month. You'll make better purchasing decisions.

- The "earn more money" suggestion might not sound so good in the short term. But in the long term you can do things to earn more, such as investing in education or making long-term plans to step up your career. I'm not sure that there are any 'magic bullet' ways to save money, but it is definitely true that if you haven't done any long-term career planning with an eye to finances, now is a good time. Maybe, for example, you would make a lot more money if you invested $100 and some weekend time in getting your web design skills up to snuff and hustling for work from friends, connections, and Craigslist.
posted by josh at 5:06 PM on March 9, 2006

Oh, also, check the email in your profile, cellphone.
posted by dersins at 5:11 PM on March 9, 2006

One more thing: if you utilize portable elctronic gizmos which take standard batteries, like AA or C, get a charger and switch to rechargeables.
posted by Rash at 5:15 PM on March 9, 2006

The new Citi Simplicity cards seem rather impressive. 0% balance transfer and purchases for 12 months and no annual fee. Check the fine print though.

If it's available, you should also set up an automatic payment to make sure you pay at the beginning of the period rather than just before the payment due date.
posted by junesix at 5:16 PM on March 9, 2006

I take issue with this. I work in a professional environment, and wearing mismatched and faded clothing isn't something that I'm willing to do.

Seconding birdsquared. Thrift stores aren't much good for business clothes, but check upscale consignment stores. Also check vintage stores -- things that are a dime a dozen at estate sales, like nicely-made suits and good, old-fashioned dress-shirts, can be altered to fit (details like buttons can be changed to look less dated.) My SO has beautiful suits that were his grandfather's. They look modern, except the the cloth is nicer.

I also totally second the flask option for drinking.

Netflix prevents me from spending a lot of money, because I'm obsessed with watching as many movies as possible and therefore don't go out as much.
posted by desuetude at 5:49 PM on March 9, 2006

The one time I needed to save money seriously and fast I:

1. Gave up drinking. Totally.

2. I would have given up smoking totally, had I smoked.

3. I planned my meals like a military campaign: I worked out what I was going to have each day, shopped for the week, turend up at local markets late in the day when they sell off excess fresh produce on the cheap, made maximim use of leftovers and inexpensive, filling, healthy food. It goes without saying I stopped eating out. No quick coffees and sandwiches at the cafe, nothing. It was Sparta time.

4. Cut out all unnecessary expenditure on phones, electricity and gas. Heating? Off. Wear lots of clothes instead. Phone? Off. You do NOT need to call as many people as you think you do. No, no, really, listen to me: you used to survive without a cellphone before they were invented, right? You can do it again. NO, you really can. Turn it offf, and leave it off. If you need it for work explain the situation to HR and make damned sure they reimburse you for work-related calls. You do NOT need it for your own personal life.

5. Netflix? Videos? Come on. That's over until you're in the clear. Same with CDs, books and so on. Those things are luxuries. You serious about this or not? Then do without everything that isn't absolutely necessary to keep you alive and more-or-less healthy.

6. Put aside a bit of money regularly. Get yourself a high-interest savings account (try ING) and make damned sure you put at least something in there every week.

Sacrifice. Lots of it.



Here's how you get through the depressing aspect of this sort of sacrifice: you revel in it. You take pride in your brutal will power and self-control. You are Simon Stylites, mate; you are Jesus in the wilderness, Oedip[us in the underpants, you can TAKE IT. You're a fucking strong-willed, self-controlled HERO. That's how you get through this.

Good luck.
posted by Decani at 5:58 PM on March 9, 2006

I'll echo what's been said by many; if you eat a regular lunch and aren't packing, you should be. I just sat down last week and worked it out because I was curious what my packed lunch cost me:

Turkey - $0.76/day (I buy 1/2lb. @ 7.49/lb. Lasts 1 week)
Cheese - $0.10/day (I buy 1/4lb. @ 6.99/lb. Lasts 2 weeks)
Bread - $0.07/day (I buy loaves and freeze them in separate, 5 slice bags)
Yogurt - $0.41/day (8 cups, one a day)
Carrots - $0.10/day (I buy whole carrots and cut them up)
Apple - $0.37/day (Apples @ $0.98/lb.)
Banana - $0.13/day (Bananas @ $0.39/lb)
TOTAL - $1.94/day

Now I feel guilty if I go out to lunch and spend $10 on a sandwhich. Of course, that assumes you can handle eating the same boring lunch everyday (like I have for years).

Also, like josh said, shop different places for different things. I buy the majority of my produce from one store (because it's the same quality and half as much as every where else) and meats from another store. I stock up when there are deals like "buy one, get one free" chicken breast, cans of soup, etc.
posted by bwilms at 6:04 PM on March 9, 2006

Get in the habit of analyzing every purchase, no matter how minor. Do you buy a soda or two at the vending machine at work every day? Then buy it in bulk at the store when it's on sale and pack it with you. Or do as jessamyn does and cut it out altogether. (Personally, you can pry my Diet Coke from my dead, cold, hypercaffienated hands, but we all have our neccessary vices. Just don't have too many and the ones you have, have as cheaply as possible.)

There's so many variants on this general principle. My friend the trail mix addict makes his own by buying generic granola, nuts, chocolate chips and dried fruit. My friend the fancy shoe addict monitors Zabbo's religiously for deep discounts and free shipping offers. Also, it can't hurt to ask for discounts from businesses you patronize: call Netflix and ask them for a discount. Call your credit card company and ask them for an interest reduction. Why not? The worse they can say is no.

Finally, if you don't already do so, stop thinking of coupons as old lady business and use them every chance you get for anything you can't or don't want to buy as a generic. Buy from the bulk aisle: rice, beans, really just about any dry edible goods will be far cheaper there. Curtail eating out as much as possible, even cheap eats like pizza. Cook a large pot of something and eat from it for a while. Always take your lunch to work and make sure it's something you'll like so that you're less tempted to spend money on convenience food.

(And a rebuttal to those who say "cut up the cards": maybe some can, but I have to have one because my business requires that I travel but doesn't prepay my expenses. Managed intelligently, a credit card is a great convenience and asset to your credit report. As long as you never use it for what you can't afford with your current income, it makes sense to have one around. However, if you find you just can't stay disciplined, you are better off giving them up. )
posted by melissa may at 6:14 PM on March 9, 2006

Here in Toronto I find Chinatown to have the best value for produce. The prices are ridiculously low. In general, ethnic stores have excellent prices.
posted by lemur at 6:18 PM on March 9, 2006

Tally up your fixed expenses: Rent, bills, insurance, etc. The stuff that's the same each month, and figure out what the monthly total is. Subtract that from your monthly income. Subtract the amount you want to put aside into savings each month. Divide the remainder by thirty: That's how much you can spend each day, on average, on food, gas, and other day-to-day expenses.

Then, carry around a notebook (or a slip of paper in your wallet) and record every time you spend money. Any money. See what you have to do to meet that daily target--or better, come in under it. This isn't a specific belt-tightening measure, but it gives you a pretty good idea of just how tight you need to cinch it.
posted by EarBucket at 6:19 PM on March 9, 2006

Decani, you're a nazi. I have a soul.
posted by cellphone at 6:25 PM on March 9, 2006

I freed up a bunch of money by taking all my pristine unread books (gifts, mostly) and listing them on Amazon. I did it all at once and listed them $10 lower than the new price, and sold them all in a week. I did the same with a bunch of unwanted stuff on eBay. It's not a long-term income plan, but it's good for generating a quick $300 or so, depending on your stock of stuff to sell.
posted by xo at 6:30 PM on March 9, 2006

Side note: I just realized that $1000 of my credit debt is interest free until 08. So it's that much better, I guess.
posted by cellphone at 6:33 PM on March 9, 2006

Decani, you're a nazi. I have a soul.

Yes, and you have a monster debt too. Whereas I don't.

I don't especially appreciate being called a nazi, mate, especially when I spent a good part of my youth fighting the real thing in Leeds, and when I was sincerely trying to help. But hey, sounds like you want your cake and eat it too so, whatever.
posted by Decani at 6:38 PM on March 9, 2006

I spend little cash, mostly using my check card

I don't know about you, but I spend more money if I use a card (any card, even the check card), rather than spending cash. Is there any way you can set a weekly cash spending limit and only withdraw that much in cash per week instead of using the card?
posted by ch1x0r at 6:39 PM on March 9, 2006

Don't Buy Stuff You Cannot Afford
posted by growabrain at 6:50 PM on March 9, 2006

You're right to have money deducted automatically from your paycheck. Do as much of that as you can; it's so much easier to save money that never gets into your hands.

I disagree with those who would have you give up cable and Netflix. You need entertainment, since you're not going to be going out for fun. I love to read, but you have to have other things.

You didn't ask about this, sorry -- but look for other AskMe threads about negotiating your credit card debt to a more manageable amount. And run the numbers on how much interest you pay per month, versus what your savings are earning.
posted by wryly at 7:11 PM on March 9, 2006

Decani, you're a nazi. I have a soul.

Yes, and you have a monster debt too. Whereas I don't.

I don't especially appreciate being called a nazi, mate, especially when I spent a good part of my youth fighting the real thing in Leeds, and when I was sincerely trying to help. But hey, sounds like you want your cake and eat it too so, whatever.
posted by Decani at 8:38 PM CST on March 9 [mark as best answer] [!]

Look, anyone making a suggestion to someone living in Minnesota to turn off their heat looks like a nazi.
posted by cellphone at 7:14 PM on March 9, 2006

Payroll deduction purchasing brainless gov't I-bonds. Think inflation is going down anytime soon?

Never buy anything that won't last or appreciate.
posted by buzzman at 7:19 PM on March 9, 2006

Actually Decani, the problem is that the things you mentioned aren't luxuries, they're entertainment. We as humans cannot idly sit by and do totally nothing.

What you're asking is for cellphone to sit and stare at the walls for all of his free time until his debt is gone. This is not an option, and really makes no sense. You might as well be suggesting to sell everything he owns except a blanket, pillow, towel and alarm clock.

No heat? No phone? Wow....people die from having no heat. Wearing a ton of clothing isn't always an option, especially in Minnesota.

I consider HBO/Showtime to be luxuries, as with CDs, and even Netflix. However, books are not. They are, however, free at the local public library. Some basic level of entertainment must be met, or you'll just go out and spend money somewhere due to total boredom.
posted by Phynix at 7:22 PM on March 9, 2006

You can't just stare at the walls, no, but there are plenty of ways to have fun on the cheap.

A deck of cards is good for some entertainment. If you get bored of poker and/or solitaire, try making them disappear.

Board games aren't necessarily cheap, but it's a one-time cost, and can be great if you have people to play them with. Or, check out some cheap-ass games.

Start inviting friends over for movies. You've already got the Netflix subscription, and popcorn and soda are cheap.

It's true that entertainment is a necessity, but it doesn't need to be expensive.
posted by CrayDrygu at 7:47 PM on March 9, 2006

I agree moreso with Decani. Sure, turning off the heat in Minnesota is not going to work, but I don't think he even knew that, people. But you can turn it down. Do you keep it at 72 degrees? That's a huge waste. My house stays at 62 and lower in the winter, and when I leave for the day it's set to 58.

And since when did TV, movies, etc. become a necessity for life? Yes, you need entertainment, but you can find as much entertainment as you want if you use your own imagination (and your legs). If you can't consider giving up the television and all its trappings, you ain't starving yet. Which it seems is what the case is, cellphone. That's fair, you just want to save money, and keep your lifestyle the same. I think Decani was just highlighting the fastest possible way to do it. No need to attack.
posted by zhivota at 7:50 PM on March 9, 2006

take your car off the road and uninsure it.

This may not be a good idea, as if someone manages to steal your car and injure someone with it, you don't have an insurance company to help defend you.
posted by oaf at 7:55 PM on March 9, 2006

BUDGET!

I carry an excel spread sheet in my wallet, showing me exactly how much I'll save by the end of the month by sticking to it.

I never carry more than $5 on me and my debit card is in a hidden pocket in the secret corners of my purse and takes quite a bit of work (and digging) to get to.

I plan for everything - especially the little things like coffee, candy, etc. I grocery shop with a list. I give myself at least a week to think about an impulse buy. I shop at garage sales, use alternative "shopping" routes like Craigslist and Freecycle. I hound second hand bookstore for my entertainment needs.

Lastly, here's a HUGE list of frugal advice.
posted by Sallysings at 8:00 PM on March 9, 2006

Actually, as stated earlier in the thread, I'm a renter, and I'm in a house, so I don't have control over the heat, nor do I pay for it. So it's a moot point.

Thanks everyone for the advice.
posted by cellphone at 8:08 PM on March 9, 2006

If you want to live in a cool neighborhood, pick a building that's in bad shape. Fix up your apartment a bit. Not a lot, just enough to make it look cool. Deal with its little quirks.

Get a 5-gallon water cooler jug. Don't spend your change, ever. Instead, put it in the jug.

Buy food and prepare it yourself instead of eating out. You'll save some money and eat better food.

When you have to buy something, spend a little extra money on it if the more expensive version will last substantially longer.

If you chew gum, find a deli that sells it cheap. If I buy a pack at the bodega across the street from my work, it's $1.50. If I cross the street and get it at Eckerd, it's $1. Where does that $.50 go? If you guessed "the jug," give yourself a pat on the back.

Don't smoke cigarettes.
posted by Afroblanco at 8:21 PM on March 9, 2006

Cancel NetFlix. You can live without it. You've got satellite TV, ferhevvinsake!
posted by fandango_matt at 8:45 PM on March 9, 2006

Rice and beans and beans and rice. Even though you said you've got some attachment to meat, you can cut back or cut it out entirely to get out of debt. Dry beans are the cheapest food bargain out there. Pair with whole grain (i.e. brown rice) and you've got your protein needs taken care of. When you're bored with just rice and beans make burritos or refry the beans for tostadas.

Other cheap home cooking ideas. Or try veggie chili and corn bread. I once co-hosted a chili party. We fed twenty people; the groceries cost about ten dollars.

You can find clothes at thrift stores that are decent enough for white-collar work, but thrifting takes time and luck.
posted by hydrophonic at 9:41 PM on March 9, 2006

Go to the library (or Borders) and read the Suze Orman book "Young, Broke, and Fabulous." and pay attention to the "paying off the goddamn credit cards" chapter. I think what it said was..

* Tackle the card with the highest interest first.
* Pay off that card, and then take the $$ you were using to pay that card and heap it on top of whatever payment you're making to the OTHER card.
* Rinse, lather, repeat. Bam, you've paid off the cards.

I don't have any credit cards, and I've taken to filling up a lot of free time by going to the gym (employer has one) - it's time that I would have otherwise spent going out to eat or something expensive like that.

Can't cook? Suck at meal ideas? Sign up for the Campbells Soup "Meal Mail" and build from there. I get several great recipes a week (and some lousy ones) and they're cheap to make. epicurious.com is great, but a lot of the stuff you'll find there is fucking expensive to cook. Go for Campbells. Use the low sodium stuff, too. Top Ramen is great but awful for you for any long period of time.

So..
* Eat at home
* Go out and get some exercise instead of doing stuff that would cost you money.
* Don't stress TOO much about the IRS. Just make a payment plan with them, and pay what you can. Just don't let it get behind. I owed over $2k to the IRS for 2004 (tax cuts, my ass.) and just now paid it off. I never let it get too late, and I also called them to let them know what was going on and got the OK.
posted by drstein at 9:50 PM on March 9, 2006

Oh, and learn how to fix things. And make things.
posted by hydrophonic at 10:22 PM on March 9, 2006

Even though you said you've got some attachment to meat, you can cut back or cut it out entirely to get out of debt.

The savings from removing meat from my diet is offset by the blandness of my diet that will result, as well as the hassle of making a point not to eat meat. It's simply not that expensive. Also, I don't eat steaks, or anything too fancy. Maybe some bacon, maybe some hamburger. The rest is pretty highly processed as part of other cheap shit.
posted by cellphone at 2:49 AM on March 10, 2006

After evaluating my situation, I've determined that my credit card debt is in fact the main source of financial woe. By cutting back on other expenses for a while, and concentrating on paything those down, I'm fairly certain I can get myself out of my current situation.

Also, after determining what paychecks would pay for what bills for the next two months, I've determined that it's been mostly unexpected expenes in the last two months that have set me back, coupled with my normal slutty spending habits. As long as I maintain a more responsible spending routine I feel that this hurdle will be overcome.

Again, thank you all for your suggestions, even the ones I disagree with. Hopefully this thread helps out others having financial problems or issues similar to mine.
posted by cellphone at 2:52 AM on March 10, 2006

I don't think cutting out meat is the answer, either. There are good deals to be found at sales in the grocery; it's just a matter of budgeting.

I also think you're on the right track, cellphone, in focusing on paying off your debt instead of trying to build savings.

If ANYONE knows of a savings account that has an interest rate as high as a credit card's, PLEASE LET US ALL KNOW!

And again, let me reiterate: see if your local library has a good DVD selection. Even though you're keeping the Netflix account, there will be downtime between shipments, and the library can fill those gaps.
posted by Sprout the Vulgarian at 5:08 AM on March 10, 2006

Great thread- I'm broke, too, and terrible with money. One thing I did was cancel all of my credit cards except for two- one was a new one with a year and a half 0% introductory rate, so I transferred the balance from another card onto that one and cancelled the card with the higher rate. If you call up to cancel, they will try to talk you out of it, but stick to your guns and do it. For cards you intend to keep, call up claiming to cancel and see how much they will lower your APR. The two cards I kept I put in a glass of water and stuck in the freezer. I recommed doing that. Other recommendations, if you live in a city, don't take taxis- either use public transportation, drive yourself, find a ride, or don't go anywhere. And definitely bring a lunch to work instead of buying. If you're one of those people who drops $80 whenever you go out drinking, just bring a limited amount of cash and no ATM card with you. Avoid malls and especially Target. Good luck!
posted by emd3737 at 6:39 AM on March 10, 2006

I needed some extra cash quick, and decided to try my hand at waiting tables in the evenings. It was a stretch for sure (I am in IT as well), and even my wife told me I wouldn't cut it.

This was at the end of January, and I have since worked 22 shifts (5-6 hours a piece), and taken home $1700 in cash tips. This far exceeded my expecatations, and it has been particularly fun to fan my fat wad of cash in my wife's face. Then she takes it.

In the short term, you will sacrifice much of your personal time, but if you need to dig yourself out of debt and want to get a jump start, this may be an option. In addition to the cash, you make new friends, the work hours fly by, you go home each day with at least one crazy story, you become a master at small talk, and you don't have to cancel Netflix (although you may not be able to keep your eyes open long enought to enjoy them).
posted by brheavy at 8:15 AM on March 10, 2006

Holy crap. I have to thank those people who suggested asking the CC company to lower your rate. I have been earnestly trying to improve my credit for the last 5 years. I knew that the two cards were of the higher interest variety, but I was shocked to realize that one was 31%! I just called them, and had that knocked down to 15.4%. Not great, I know, but well worth a five minute call.
posted by kimdog at 8:44 AM on March 10, 2006

emd3737 - literally freezing credit cards = pure genius!
Practical, AND now I have a plan for April 1st!
posted by Sprout the Vulgarian at 8:48 AM on March 10, 2006

31%?! That's not credit. That's highway robbery.
posted by crunchland at 9:26 AM on March 10, 2006

Anyone making a suggestion to someone living in Minnesota to turn off their heat looks like a nazi.

Not to be defending the tenets of National Socialism or anything, but you'd ruffle far less feathers by using a more accurate but less loaded term when you're name-calling, like maybe "tyrant" or "fascist". Throwing around this n-word like you did makes it sound like you learned it from "Seinfeld."
posted by Rash at 10:33 AM on March 10, 2006

So nanojath and Sprout the Vulgarian and others have mentioned tracking your expenses. I wrote a free spreadsheet that does just that. Check it out.
posted by Alt F4 at 3:52 AM on March 11, 2006

If ANYONE knows of a savings account that has an interest rate as high as a credit card's, PLEASE LET US ALL KNOW!

Now wouldn't that be wonderful? ;)

Check out the American Dream Savings Account from Emigrant Direct

Emigrant Direct is an "internet bank" similar to ING Direct. They have no brick&mortar banks and no ATMs. You transfer funds between your checking account and your Emigrant Direct (I'm kinda loath to abbreviating it as ED, heh) online.

Check out reviews of this savings account online. I've been quite happy with it.
posted by hellhammer at 11:02 AM on March 11, 2006

I second hydrophonic's suggestion on reading Suze Orman's books or watching her shows on PBS. Her super-fake smile is an instant turn-off for me but her advice is solid.
posted by hellhammer at 11:05 AM on March 11, 2006

A few years ago I had about $3500 on a high interest credit card. I applied for a personal loan at my bank and was approved. I paid off that credit card bill with the loan and basically had the same debt at one third the interest rate. If you are the kind of person who can not use the credit card again to run up a tab immediately, it might be a good option. Good luck!
posted by 45moore45 at 7:35 PM on March 11, 2006

I second hydrophonic's suggestion on reading Suze Orman's books

That wasn't me. That was drstein.
posted by hydrophonic at 10:50 AM on March 12, 2006

Alt F4: "I wrote a free spreadsheet that does just that."

I had no idea you're on MeFi. I've been tossing a link to that spreadsheet to anyone I see asking for advice like this. Excellent job, dude!
posted by CrayDrygu at 11:21 AM on March 12, 2006

What you're asking is for cellphone to sit and stare at the walls for all of his free time until his debt is gone.

No, I asn't asking him to do that at all.

I think I've had enough of this thread.
posted by Decani at 5:30 PM on March 12, 2006

CrayDrygu -

Thanks! It's great to know it's working so well for you!
posted by Alt F4 at 3:51 AM on March 14, 2006