Savings 101 | Do You Have Six Months in Savings?

Any good financial planner will tell ya that you need to have a minimum of 6 month savings before you can begin invest your monies elsewhere. Take a look at your cash flow and your spending and see where you can begin to cut back to put that 6 months worth of savings aside.

Here’s a few other ways you can begin to cut back easily without feeling the devestation:

1. Get rid of the drive thru coffees – instead make coffee at home. Calculate your coffee costs and you won’t go back to purchasing your caffeine!

2. Eat In and Pack Lunch – it’s cheaper and much healthier!

3. Consider raising your deductibles on your home owners and car insurance – we just did this and saved a few hundred dollars!

4. Car pool – is there a co-worker who lives near by? Consider taking driving your car every other week – it’ll cut down on your fuel costs and car maintenance!

5. Cut “wanted” expenses – is it necessary to have 550+ channels on all the tv’s in your home, is there really a need for all the cell phone minutes or better yet, can you get rid of the home phone? By reducing your “wanted” expenses you’ll be amazed at how much you can save on your bills every month!

6. Save money on fuel – there’s a ton of ways to save on gas. You just gotta know how!

7. When appropriate, buy used – don’t be ashamed to head to your local Goodwill store or stop by a neighborhood garage sale. These are places you can expect to pay 75% off retail prices. This is how I’m able to decorate our home, save on kids clothing and toys!

8. Get rid of the gym membership – afterall how many times a year do you REALLY go to the gym? Consider walking your neighborhood, doing workout DVD’s and getting creative – like bench pressing your 3 year old!

9. Wait for it on DVD – STOP going to the movies, it’s just so expensive these days. Instead, wait a few months and save yourself hundreds of dollars a year by watching the movie from the comfort of your own home! Check out my 10 Ways to Save on Movie Night article for more ideas!

10. Make money in your spare time – at some point during the week we’ve all got a few hours that we can find to make some extra money. If you have a “hobby” that can earn you money you can develop a small business, sell products (like Avon, Tastefully Simple, Pure Romance, etc.) or start a FREE website (like and sign up for affiliate accounts. You can also be a virtual assistant, fill out online surveys or list items you no longer use for sale on Craigslist. For more ideas be sure to read the How to Make a Little Extra Dough article.

Most of all you can begin couponing. Couponing is the easiest and quickest way to begin to save your family the money it needs! Take the money that you saved and put directly into your savings account today!

What are some small things you do to save money?


  1. nope my husband is unemployed and we had to use our savings and his inheritance we even had to borrow money from his sister . my husband is a wine salesman but got hurt on the job but was not able to get any disability due to being a independent contractor . he has since lots that job and is now on unemployment , so I’m trying to do my part to help the family by entering to all the contests I have time to enter .
    commenting for a enter into the ice cream Klondike breyers giveaway , my husband could sure use a Klondike pick me up LOL

  2. I’ve been trying to use coupons as much as I can! Commenting for an entry to Chaheati: Heated Chair 🙂 Thanks! :oD

  3. coupons!!!

  4. I’ve always been frugal; I guess its just in my genes…that being said, I encourage everyone to shop at thrift stores. Our local thrift store sells bundles of 20-30 t-shirts, normally priced at $1.98/bundle, but once a month they are marked down to 25cents/bundle. Many of the shirts are brand new or gently worn.

    I cut them up and use them as my “reusable paper towels” and one bundle will last me for over a year. They are great for cleaning windows, dusting, wiping spills, whatever you might use a paper towel for, except you just throw these in the wash with the towel load or bleach load and use again.

    When we’re trying so hard to save money, it is important to “think outside of the box!”

  5. These are awesome tips. I definitely need to quit the coffee drive thrus and the hubs and I have talked about getting rid of our 550+ channels… thanks for the reminder, we need to take action!


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