Lala's saving tips

[Hancock]

Good tips, but most of them sound like you're being a massive leech. Eg, you want to have the privileges of a car, but you don't want to buy you're own. I understand that some people can't sustain the purchases of a car, but that doesn't mean you shouldn't buy one if you can just to save money.

Being too cheap is stupid IMO. You're becoming a young adult now and you should try and enjoy at least a portion of your money. No point saving everything and then getting to you're late 20s and being like "wtf, no experiences."

[b^3]

Good tips, but most of them sound like you're being a massive leech. Eg, you want to have the privileges of a car, but you don't want to buy you're own. I understand that some people can't sustain the purchases of a car, but that doesn't mean you shouldn't buy one if you can just to save money.

Being too cheap is stupid IMO. You're becoming a young adult now and you should try and enjoy at least a portion of your money. No point saving everything and then getting to you're late 20s and being like "wtf, no experiences."

I agree with this entirely, and not everyone has parents who can be leeched off of, if anything some of us have more money coming in than our parents and are trying to help them out here and there.

EDIT: If anything, you've just got to cut back yourself, instead of leeching and using others money in place of it.

EDIT2: My post count is now a palindromic number, 3223 posts.

[pi]

Being too cheap is stupid IMO. You're becoming a young adult now and you should try and enjoy at least a portion of your money. No point saving everything and then getting to you're late 20s and being like "wtf, no experiences."

I agree with this, life's too short to be a massive scrooge.

Personally I think these tips are way too far:
- #6: calling up managers is *way* too far
- #7: eh, often fast food is the cheapest option and easiest when with mates in the city or what-not. Who honestly carries around a sandwich or a box of Shapes with them after a late night out in the city? Having said that I agree to be economical and not for for things like Nando's which are over-priced.
- Parts of #9: asking for discounts... wow, no.
- #11: lol, no mate, no-one likes a leech
- #14: what's wrong with online banking?
- #19: as before, life's too short and I find it fun

[werdna]

Completely agree with pi and Hancock. It is definitely important to save up and not overspend, but I think the tips you've talked about are over the top... technically speaking, you've got to spend money in order to make money. A few things...

1. Save all your fucking money (obviously).

If you're saving all your money, how come you are still leeching off parents and friends...?

2. Never spend a few dollar over a note, ie dont spend between $5.05 - $8.50 or $10.05 - $13.50 ever.

This is probably getting a bit excessive - yes we all try to manage our spending and 'budgets', but being absolutely precise to the coin and the 5 cent is just crazily excessive I think... Most people these days use cards anyway.

3. Money box. Buy one that CAN NOT be opened or counted.

This is a good tip!

4. Notepad. You want a notepad to track your expenses and identify and bad habits.

This is getting too serious now lol.

5. Fast food is a no. I don't pay for fast food ever, my parents do. I will never pay for fast food again in my life - unless I was out with friends, even then I don't get fast food really.

5cont. continuation from #5, to counter this you can go to Coles and get either a $2 box of Shapes, bag of chips for $2 and get a free cold water at McDonalds, they fill you up for a long time.

Don't you feel awkward having Shapes, chips and a free water while everyone else is having normal food... :/

6. FREEBIES! I've made too much money with freebies. This is what you'd consider greyhat, so only use this with discretion. Call up or email various restaurants and companies claiming that your service and/or products were poor and they'll happily replace it for you. This works good with any companies with cheap products.

Isn't this time consuming???

8. Wreckless spending. It bothers me how people can spend $100 out in one night. Even if I try, I can't go past my FIVE limit. I -used to- get money for going out from my parents and I'd always come home with -$5, which was to buy a meal.

Surely you spend SOMETHING?!!

9. Food shopping! Always measure the $/gm or $/l. This can save you A LOT of money - you really don't realise it sometimes. Also, food with a closer expiry date is always cheaper. Also, try to shop late at night because you'll always find food being discounted in the meat and dairy section. If you're ballsy, ask one of the manager looking staff if any of them are ready to go on sale.

I wouldn't go to this extent to save money... It's just a classic case of being cheap rather than saving money. I personally never buy the clearance items etc cause it's clearance for a reason!

10. Savings account. Ever since I've signed up for my savings account 21 months ago, I've only made one urgent withdrawal. The interest that you accumulate is amazing and if you withdraw it, you lose a months worth of savings. It's a really good incentive.

What exactly are you saving up for lol?

11. Leeching. Leech from everyone and every damn thing. This doesn't mean stealing food from your friends or having them shout, you still want to be respected, but try to use your parents for food because ultimately they are your guardians. Also, an example would be if you're leaving to go home after being at your friends house ask if they have anything to eat to prevent yourself from going to get fast food.

This is just sad...

12. Shopping. No. Don't go out for "shopping" it'll only turn out into "debting".

Surely you buy something? Or pay for SOMETHING??? Shopping doesn't become debting unless you have a credit card, and the majority of people our age don't have credit cards. You can only spend what you have.

15. Markets & eBay. The amount of quality things you can find here is amazing. Don't buy items in stores without checking eBay. I'm a saver, but I prefer new items still, so just do a quick checkup on prices before buying. Markets are good too for picking up cheap bargains.

But I thought you don't do shopping...

18. This leads me to my next point - CARS. Now I know many of you are 18+ so getting a car is mandatory, right? No. Cars are expensive as shit and degrade in value a lot. Let's do some math:
Car - $2000+
Rego - $560+ year (to my knowledge)
Insurance - $2500+ year (to my knowledge, unless its in your parents name which it'd still be expensive)
Make your decision. I'm still getting my P's but using family my members' cars.

I'm pretty sure everyone here would agree that you can only borrow and use family members' cars for so long. Car usage is one thing you can't leech forever. You'll eventually need to get your own car, and by eventually, I mean only a matter of months. I'd be surprised if you can last longer than that. I'm getting my first car next month and I'm more than capable of managing my money etc... car is $20k and I am more than aware of the added fees and ongoing costs. It's just something that has to be done considering my distance from uni... If you're complaining about a car that is $2k you must be a real cheapo haha.

19. Drinking, smoking and drugs. Drinking is expensive and damaging to your health. Does it pose any benefits? I'm struggling, inform me please. Water has saved me a lot of money and I refuse to lay my hand on any other drink from now on. Smoking? As aforementioned, please inform me of any benefits. Drugs? No comment.

Can't judge people on those 3 things though...

Overall I think you might need to evaluate exactly why you're saving, how you're saving and how you're (generally) going about life. Spend your money, have a bit of fun and don't have the whole 'I want to save up for my house deposit' so early on in the game. I'm sure you will have plenty of opportunities to save in coming years. If you're this cheap with an OK part time wage as a student right now, imagine how you'll be when you work full time! Like I said, saving is good and a must, but don't go to crazy lengths to do so. I don't know, this is quite a sensitive topic and I think that it's important you don't get bogged down in the 'I can't spend a cent' mentality you've got going. The way I see it, it's quite selfish to do all these things to parents, friends, store managers, companies etc for your own personal savings balance...

[BigAl]

Remove lunch or combine lunch and breakfast...you save a lot in that way...hopefully you don't have a lecture in the morning though

[brenden]

If we could keep this thread away from being needlessly critical, that'd be great.

[Robert243]

I like your tips Lala  . But we only have one life and we need to make the most of it .

[lala1911]

I understand your viewpoints, but I still see a lot of people broke. Not all of these need to be put into practice when saving money, I guess I just go too far sometimes. I mentioned before that some people have commitments and a social lifestyle, so some of these are impossible to follow.

Thanks pi` for your suggestion, never knew they had that for that price, shows that I don't know the menu. Nothing wrong with the free water though.

[CH3ezEC4KE]

Wow I'm saving, but gotta say doing a sport makes things so hard. Need healthy food which is always expensive, need gear which even the cheapest is expensive. Plus registration, races are a ripoff, plus for most people a car is needed to travel places, otherwise it's just unsustainable. But good points.

[lala1911]

I agree with this, life's too short to be a massive scrooge.

Personally I think these tips are way too far:
- #6: calling up managers is *way* too far
- #7: eh, often fast food is the cheapest option and easiest when with mates in the city or what-not. Who honestly carries around a sandwich or a box of Shapes with them after a late night out in the city? Having said that I agree to be economical and not for for things like Nando's which are over-priced.
- Parts of #9: asking for discounts... wow, no.
- #11: lol, no mate, no-one likes a leech
- #14: what's wrong with online banking?
- #19: as before, life's too short and I find it fun

Yeah #6 I said was greyhat, because it is wrong. Works very well though to get free food.
#7 yes true, but if you're short on money and need to save money urgently you do what you can. Better than that I try not to eat, so I can eat at home. Like at school I always saved my lunch money then ate at home.
#9 why not? There is nothing wrong with it and the managers are happy to let you know. They put down specials for a reason, to clear out stock it's their job. Having one early clearance is good for them. It's like asking when there will be a sale next.
#11 if its your parents its fine
#14 because people are tempted to spend it or transfer it. I used to transfer small amounts when I had online banking, especially if you have a debit card, you'll want to transfer it over. It's very tempting. Having a bank account that you can not access eliminates that temptation
#19 if you're an excessive or even a regular drinker consider how much it has costed you

Also I'll say here that I've never like used my parents to buy me video games or the latest technology. I know I'm probably coming across as a brat when talking about it, but my parents very rarely buy things for me these days, my mum just likes cooking for me. Leeching off friends, I've never done it, never had them pay for my meals or anything, but when I was younger I used to eat at my friends house when they had dinner so I didn't buy fast food on the way home. I wasn't begging for food or anything, his mum usually cooked a lot during the evening so I was offered some.
[/quote]

Wow I'm saving, but gotta say doing a sport makes things so hard. Need healthy food which is always expensive, need gear which even the cheapest is expensive. Plus registration, races are a ripoff, plus for most people a car is needed to travel places, otherwise it's just unsustainable. But good points.

I can imagine that. Buy gear that is longlasting though. I've had my Nike shoes for 3.5 years now and they work perfectly. I still have four racquets in pretty much new condition from 5 years ago. All gear is expensive, unavoidable, but I'd quit sport alltogether if it was that expensive (my opinion). Sometimes a car is unavoidable, especially if you work somewhere where there is no train line then surely you need a car. A lot of people though don't really need cars. I've actually seen a few people [no names] in IRC chatting about how expensive cars are. For someone like myself, getting a car would be a waste. Sometimes people just really don't need one.

[CH3ezEC4KE]

I can imagine that. Buy gear that is longlasting though. I've had my Nike shoes for 3.5 years now and they work perfectly. I still have four racquets in pretty much new condition from 5 years ago. All gear is expensive, unavoidable, but I'd quit sport alltogether if it was that expensive (my opinion). Sometimes a car is unavoidable, especially if you work somewhere where there is no train line then surely you need a car. A lot of people though don't really need cars. I've actually seen a few people [no names] in IRC chatting about how expensive cars are. For someone like myself, getting a car would be a waste. Sometimes people just really don't need one.

Yeah but quality running shoes only last so long. I wear $5 shoes from factorie but my running shoes only last 800km, 1000 at the most. And that's a pair every year pretty much. Plus riding a bike 200+km per week means paying for maintenance at least every 3-4 months-tires,service etc. plus swimming pool access- I'm not going to swim in a lake in the middle of winter haha. But everything is a ripoff these days pretty much anyway

[lala1911]

Yeah but quality running shoes only last so long. I wear $5 shoes from factorie but my running shoes only last 800km, 1000 at the most. And that's a pair every year pretty much. Plus riding a bike 200+km per week means paying for maintenance at least every 3-4 months-tires,service etc. plus swimming pool access- I'm not going to swim in a lake in the middle of winter haha. But everything is a ripoff these days pretty much anyway

True. It's unavoidable I guess. You can either continue or drop exercising. I wouldn't suggest to get cheaper shoes, because they'd probably last for a shorter duration and end up being dis comfortable anyway. Maintaining a bike is compulsory too when riding heavily, especially to ensure that the bike is working to avoid injuries. Everything is very expensive, I know, that's why I've taken up the hobby of saving.

Good tips, but most of them sound like you're being a massive leech. Eg, you want to have the privileges of a car, but you don't want to buy you're own. I understand that some people can't sustain the purchases of a car, but that doesn't mean you shouldn't buy one if you can just to save money.

Being too cheap is stupid IMO. You're becoming a young adult now and you should try and enjoy at least a portion of your money. No point saving everything and then getting to you're late 20s and being like "wtf, no experiences."

You can still enjoy your life without excessive spending. I know some people have more obligations so they are forced to spend more. I think one of the main sources if not the main source of money wasting is food. I know a lot of people who visit restaurants occasionally, get fast food every night and drink beer too often. Really, it's very expensive. I understand that you want to go out sometimes and enjoy yourself, but you can quite easily spend $30-50 at a restaurant nowadays. I could make 15 meals at home for that price. I know that my sister uses all her wage money on restaurants and going out, then she complains to me that I've got more money than her (and I've been unemployed just until a week ago).

[e^1]

I'm not sure if this is a viable idea but I did online surveys and got money from them (~$40-45 in 1 week) from legitimate websites, of course. It can take a lot of time though, which might be an issue during uni or work.

[lala1911]

Completely agree with pi and Hancock. It is definitely important to save up and not overspend, but I think the tips you've talked about are over the top... technically speaking, you've got to spend money in order to make money. A few things...
If you're saving all your money, how come you are still leeching off parents and friends...?
This is probably getting a bit excessive - yes we all try to manage our spending and 'budgets', but being absolutely precise to the coin and the 5 cent is just crazily excessive I think... Most people these days use cards anyway.
This is a good tip!
This is getting too serious now lol.
Don't you feel awkward having Shapes, chips and a free water while everyone else is having normal food... :/
Isn't this time consuming???
Surely you spend SOMETHING?!!
 
I wouldn't go to this extent to save money... It's just a classic case of being cheap rather than saving money. I personally never buy the clearance items etc cause it's clearance for a reason!
What exactly are you saving up for lol?
 
This is just sad...
Surely you buy something? Or pay for SOMETHING??? Shopping doesn't become debting unless you have a credit card, and the majority of people our age don't have credit cards. You can only spend what you have.
But I thought you don't do shopping...
I'm pretty sure everyone here would agree that you can only borrow and use family members' cars for so long. Car usage is one thing you can't leech forever. You'll eventually need to get your own car, and by eventually, I mean only a matter of months. I'd be surprised if you can last longer than that. I'm getting my first car next month and I'm more than capable of managing my money etc... car is $20k and I am more than aware of the added fees and ongoing costs. It's just something that has to be done considering my distance from uni... If you're complaining about a car that is $2k you must be a real cheapo haha.
Can't judge people on those 3 things though...

Overall I think you might need to evaluate exactly why you're saving, how you're saving and how you're (generally) going about life. Spend your money, have a bit of fun and don't have the whole 'I want to save up for my house deposit' so early on in the game. I'm sure you will have plenty of opportunities to save in coming years. If you're this cheap with an OK part time wage as a student right now, imagine how you'll be when you work full time! Like I said, saving is good and a must, but don't go to crazy lengths to do so. I don't know, this is quite a sensitive topic and I think that it's important you don't get bogged down in the 'I can't spend a cent' mentality you've got going. The way I see it, it's quite selfish to do all these things to parents, friends, store managers, companies etc for your own personal savings balance...

But you need to spend money on the right things in order to make money. I've spent money to make money and I've saved money to save money.

In response to all of your responses;
#1 - because the objective is to continually save. Don't settle for $x, you wan't to save as much as you possibly can.
#2 - it isn't obsessive though, it's a good idea. Just be aware of situations when you'll be receiving a lot of coins back, you'll be surprised how much it helps. I can't be thankful enough to my mind for considering it.
#3 - thanks
#4 - Not really. It helps you eliminate poor spending habit. I'm sure a lot of people can agree with me here.
#5 - Normal food, like? I'd consider McDonalds abnormal, now that I've had experience working there. I'll never touch it again. Even though shapes/chips are somewhat processed I guess, McDonalds is completely processed food, I don't consider it normal. And nope, I don't think there is anything wrong with it. Save yourself $5 a few times a year.
#6 - Not really. Just a few calls and emails.
#8 - Nope. In year 10 when I went out quite frequently, I'd go to the mall with $30 and always come home with $25+. I still follow this idea.
#9 - It's clearance for a reason, the reason to reduce stock in order to make way for new stock or that it's been slightly damaged usually. I don't see a problem with this.
#10 - Emergencies, home loan down payment.
#11-  You could say so and it probably is my most 'saddest' point out of the ones in my OP. Use it however you like or neglect the idea, my parents are happy to give me food. I don't obnoxiously pig out once a day and demand food, it's more of like requesting lunch and dinner at home. There should be no issue with this at home since your parents are your caretakers and it's completely normal for them to take care of you.
#12 - Nope. When I go to the shops with any family members, usually I either get a snackbox from McDonalds and a water or I go to Coles and spend a few bucks.
#15 - When you're forced to buy something you want the cheapest way out. Some items are unavoidable, for example I need to buy a laptop soon for Uni (for an I.T course) so I'll be spending a long time bargain hunting in order to get the best deal. This is simply an unavoidable cost as a laptop is pretty much mandatory.
#18 - Suit yourself. I don't think a person needs a car unless they must travel somewhere regularly. Yes I don't think $2k is reasonable for a car, I simply don't want to fork out that much. It's $2000, two thousand dollars. Some people spend weeks trying to earn that.
#19 - I don't know what you mean here sorry

Thanks. It's more of a habit though. I don't think I'm doing it just to please my selfishness. I'm just actually amazed at how much people can spend. After lightly saving money for a bit I've really gotten into the act of saving. I just want enough money as I can get in order to fund myself when I need money most. I see your viewpoint though.

[lala1911]

I'm not sure if this is a viable idea but I did online surveys and got money from them (~$40-45 in 1 week) from legitimate websites, of course. It can take a lot of time though, which might be an issue during uni or work.

Also, I'd like to add that I made this thread because I see a lot of uni students claiming to be broke. Just trying to help out.