want to get out of debt !

[onlybluemomma]

Hey everyone. this may seem like a silly question.. but what are some of your best money saving tips?
We have three boys and are out growing our current home very quickly, it is cramped and we would like to move on to a bigger home where we can live in until the boys are off on their own.. we have already decided to move about 20 mins out of town to a place where we can get more house for less money.. but we want to pay off some debt before we sell this place and move on.

I am very motivated to get us out of debt so that we can move .. I have been trying to coupon to help with our monthly grocery bill but it is hard where I live, the deals are not that great and we can't stack here in Ontario.. looking for any advice and wisdom you super savers might have!

[ashedfc]

Couponing is a good start..
Cook food/tea/coffee/etc.. at home (avoid restaurants).
Start by paying down the higher interest debt first.
If you can transfer your high interest debt into low interest - do it ASAP. This will reduce your interest liability.
Start small, very soon you will start noticing the difference.
Once you get a taste of living debt free... you will start enjoying life; its great to be born as human being.

Our society has become so cruel that bankers (or the entire financial world) they live on interest paid by hard working people & by propagating debt as money..

[Midnightly]

always asking yourself "do i really need that? or do i just want that?" yes that drink at walmart is only a buck.. but that is another dollar out of your pocket (i keep a case of water in the car for just this reason though to be more frugal it would be better for me to bring my own bottle of water)

[Shwa Girl]

We have three boys and are out growing our current home very quickly, it is cramped and we would like to move on to a bigger home where we can live in until the boys are off on their own..

Growing up, we were like you. In a small space too. And only one bathroom for all of us. I don't know how we did it. Today, that would be unheard of - must have at least two bathrooms today.

[xox2010]

Growing up, we were like you. In a small space too. And only one bathroom for all of us. I don't know how we did it. Today, that would be unheard of - must have at least two bathrooms today.

Same here. Family of 5 in a three bedroom, 1 bath house.

[macw1960]

If you have lots of stuff that you don't use then have a yard sale.
Sell unused items on Kijji or Craig's list.

[marstec]

Separate your wants from your needs. Work towards goals rather than trying to get it all at once. It's all (some) people can do to "keep up with the Joneses"...if you live your life feeling like you need this or that in order to fit in, then you will always feel like a hamster on a wheel.

It's not only about the coupons, learn to be a good shopper. Buy the best you can afford rather than cheap disposable stuff that will break down and need repairs. That little more up-front cost will make a difference in the end. If you need brand name clothing, buy it on sale or at the thrift store...no one can tell where you got it from these days, especially when the fashion leans towards "distressed".

By getting yourself out of debt, you are buying yourself options.

[roseofblack25]

I don't eat out or even buy coffee out. I don't drink coffee as it is, but when I was working I used to get a fancy tea about once a week and a snack at the coffee shop when I had to work later and missed supper time. If you need tea or coffee bring it with you. I have tons of flavoured teas and I used to bring boxes of it to work so that I would go put the kettle on instead of feeling like I needed to buy it at the coffee shop.
With grocery shopping I only buy the foods I know I can eat in time, even if it means going to the grocery store more often because you ran out of something. It's cheaper than buying a ton of fresh produce and having it go bad before you can eat it.

I shop at the thrift store since I don't really need clothes and can't afford to buy high end retail anyway. Besides thrifting is much more fun to hunt for treasures and you can sometimes find designer stuff for the price of something you could pick up at walmart! You can get some amazing vintage good quality items that will last forever for the same price as an item that will fall apart/stretch out/fade in a year from walmart. Since there is an awesome thrift store near my sister I might try my hand at reselling some of my designer finds on ebay or etsy to see if I can make some extra money that way. I find a lot of good brands but not in my sizes so I'm going to start off small with say $10 worth of thrifted merchandise and try to sell it. If it goes well I will use the money I make off those items to save and reinvest into some more stuff to sell.
To go with this too is if you have stuff you no longer wear or want anymore depending on the brands you might be able to sell it on ebay or craigslist/kijiji for a bit of extra cash. I have tons of purses and things I no longer use so I listed them on kijiji and craigslist and sold them. Same with electronics that are older like ipods. They sell really quick online if they are in good condition.

I also have a budget planned out. I have all my fixed expenses already recorded and spaces for variable expenses when I pay for them. It keeps my shopping in line if I am tracking everything to the penny. That way if I used all my pay cheque that month I can't buy anymore and that keeps me on track so I don't have to dip into savings (though some months I will be because of school payments). I'm trying really hard to save up a down payment for something of my own but it's hard being a student since the majority of my pay goes to living expenses and the little bit of left over goes towards school. Some day I hope to be actually making money and not always breaking even!

[Abby5]

I think a good stock pile is key. I keep a small note book in my coupon case,that I track --ok price (if I need it), good price (buy a few if needed), great price (stock up price). I am from Ontario too so I know what u mean by prices I just do my best. I stock pile:laundry soap, deo, shampoo and hair care, bandaids, sunscreen,toothpaste, mouth wash, body wash,toilet paper, papertowel,ziplocks, dishwashing tabs, dish washing soap, cleaning supplies, garbage bags, hand soap, razers, cream, shaving gel, napkins,foil, plastic wrap, waxed paper, parchment paper, bottled water, and frozen fruit and veggies I buy them in 10s so it takes along time to run out....which is good since there are few sales. I was really sick and my last stock pile lasted over 2 years without adding to it at all
ps I have boys too Our home is small -1100sq.ft

[EricsMom]

Same here. Family of 5 in a three bedroom, 1 bath house.

Us too !

There is only 3 of us now and we have 1.5 baths . . . no way in HELL I would ever go back to 1 bathroom! LOL!

[ashedfc]

If you have lots of stuff that you don't use then have a yard sale.
Sell unused items on Kijji or Craig's list.

Even if you need some stuff; you can buy it from kijiji
(a lot of people sell their stuff, because they are mvoing or they have too much, or they don't need, etc. the stuff can be a lot better in quality & very reasonable price)

[roseofblack25]

Another one I like is shopping at the dollar store! I was surprised with the amount of stuff you can get at the dollarama stores in cities. I have bought so many cute household things there!

[sunny3]

Use the library- instead of buying books but also to borrow movies
Cut back on fancy tv, sure, the kids might be upset but teaching kids they can live on less is also a very good learning tool
Plan your outings- in order to save on gas. More planning and thinking can lead to less cost
Car pool- if the kids have activities they want to go to, see if another parent nearby will take yours
Do cheap family activities- go biking together, play in the park, bake cookies together, seek out free events at community centres and libraries... and come home for a special ice cream treat. For the price of a fancy dairy queen treat you can have ice cream for the whole family- cheap vanilla, chocolate syrup, and some old sprinkles you found in the back of your baking cupboard.
Follow the food guide for portion control- meat the size and thickness of the palm of your hand... have an extra slice of bread or glass of water to fill up at dinner if needed.
Encourage your kids to drink water- it's good for the body but also cheap on the wallet vs sugary drinks, pop...
Depending on the age of the kids, many kids are willing to help out in a way they can- assembling toys they no longer want to have a garage sale, not asking you for "wants" so much, not complaining if you have special treats at home instead of a restaurant...
Walking, biking or taking the bus to school- saves on gas money and sets a good example
Sensor lights- if kids are younger and often forget to turn off lights in a mud room, the basement, a play area, set up sensor lights that turn themselves off if there's no movement in the room. Teach kids to turn things off.
If your kids are younger- baths together and limit the water.
Go to a splash pad instead of turning on the sprinkler if there's one within biking or walking distance.
Cook cheaper foods
Grow a garden
Make a family activity out of going to a place to pick berries, apples... and remember that sampling is allowed
Go on a picnic instead of going to a restaurant and get the kids involved in the planning and preparing including bringing something to play with at the park- a kite, a ball...
You can still do a lot but not feel like you're cheaping out if you plan properly- ie: if you're going to an free outdoor community event that has food, eat a good meal at home and then go- explain to the kids that you're not going for the food and bring your own drinks and snacks or tell them you will buy one treat that you will all share.
Stock piling is ok but within reason- you still have to buy a lot to stock. Sometimes you have to weigh getting a good deal versus just not spending.
Only go to the grocery store once a week- many reasons: forces you to plan, forces you to budget food when you're running out, prevents impulse buys...
Dietitians normally recommend 1/2 to 1c of juice per day. If your kids drink juice constantly, water it down. Do so gradually increasing the amounts in secret till they start to complain. With most frozen juice concentrates you can add an extra half can of water without making much of a difference but you could probably add more gradually.
Sport drinks- expensive, sugary and empty calories. Water is best but if your kids REALLY want it, try the powder kind and gradually add extra water.
Check if the clothes needs washing- a towel can usually be re-used- if you have to, assign each member of the family a different towel they are to use for the week and wash it only once a week. I think re-using a wash cloth is kind of gross even for the same person since I don't want to wash my face with what I washed my ass with yesterday. If the kids were inside all day, the pants in particular may not need to be re-washed. Fold 'em up and put them away, young kids are sometimes ok with the shirts too but obviously there are certain things like socks and underwear that need to be changed more often. If you wash sheets frequently, live on the edge and wait an extra few days. Use less soap and see if it still works out just fine- whites are usually an exception.
Cut back on a/c and heating costs.
Family vacations- camping in the backyard, camping in general, a short train trip somewhere for the day, local attractions instead of far away places, cheap night at the movies with smuggled in juice boxes and snacks (our parents used to take us to a store before we went to the movies so we wouldn't complain)... special moments and memories need not be extravagant. When i was 10, our parents took us on a winter vacation to a city 1hr away by train. We got there for just a tad early check in (hotel near train station), swam in the indoor hotel pool till dinner, went out to dinner, swam in the pool again, ate brought in snacks and watched tv before bed, went for breakfast and swimming in the morning and came home on the train the next day. It's as fond of a memory for me than going to disney world at age 14.

[Big Pink]

Well, wanting to get out of debt is certainly not silly.
It can be a nightmare.

As has been mentioned, even if you cannot coupon much, stockpile when you CAN get deals at stores. My own stash started by buying only door crasher specials and clearance. And perhaps even planning a monthly shopping trip to a town where you are able to do a big shop and stockpile might not be a bad idea... even if it's a drive.

Also, if you live in or near a town with a Goodwill, not only can you get great deals, but they have 50% off every Friday. As roseofblack well knows, you can buy new, or almost as good as new, and brand name items that you might not even buy if you had the money. This past Friday I got 3 CK cardigan sweaters, a CK sport jacket, a Saks Fifth Avenue blazer, an Anne Klein all weather jacket, a pair of DKNY shoes, pair of Vara leather knee high boots... etc... all new... most with tags. On a half price day.

I don't disagree with paying down your highest interest credit card first ($$$!!!!)... though for me, it worked better to pay off the lower balance ones... and close the accounts and cut them up, so you won't be tempted to use them. Then take the payments you made on the one you've paid off... and apply it to the next lowest plus the minimum you were paying before. This allowed for me to have positive reinforcement when I felt great paying one off and motivated to move on to the next. A financial person (which I am not) may suggest to keep the paid off cards, but not for me. You'd have to know yourself to decide what is best.
Biggest thing for me... no store credit cards!!!! Keep the one Visa or MC that has no fee... use that one only. And don't forget to call and negotiate your interest rate every year. May not work but worth a try. This also works with Bell or Rogers.

A big one for me, which I mentioned in another thread... similar to the take out food and coffee. I have a condition where I need to eat healthy. But I still get cravings and end up getting take out or whatever. Expensive! So I had to recognize this was going to happen, and instead of banning it from my home, I buy it. So when I have a craving walking by Pizza Pizza (damn them!), I know that I have a pizza in the freezer at home that I spent $3 on... and walk by. Frankly most of the time I don't want it by the time I get home anyway.
Plus whenever I cook, I make extra and freeze my own "TV dinners" so that if I have a problem making something fresh for work, I can just grab one and not get take-out. It's those impulse food purchases which were a big problem for me.

Which leads me to my last comment... if you don't have one already, and you have the space, find a clean second-hand freezer. I got a good upright for $50.
You can freeze your extra meals (if you have any with three boys), veggies and fruit in bulk when they are in season, meat when it's reduced, etc. My hydro use did not change significantly but being able to store great deals when I find them... priceless. Farmer's markets at end of the day... make a deal.

Plus... a great tip from Koolaid and others here... if you do collect points for, say, SDM, save them up and do your Christmas shopping (or whatever event you have) on mega redemption days. It might even help you stay on budget.

I could go on all day.

Best of luck.

[ashedfc]

another easy way is "bankruptcy"...
but before that you have to pile up a lot of debts (lots, I mean really lots like Lehman Brothers/ Nortel/ Enron/ Worldcom/ etc.. did)..
follow the big guys.. do exactly how they do.. & they walk out with large bonuses.. for bankrupting the company..