Saving Money by Not Spending It
The Simple Dollar today has a list of 100 ways to save money.
I think that Joanne may appreciate number 65.
I have a little addendum for number 7: “Write a list before you go shopping - and stick to it.” While that’s good advice, it can be difficult at times. Some may have the will-power to stick exclusively to “the list” but others will have a hard time of it. And, once you fall off the horse, it is often easier to keep walking than to try to get back on.
An alternative is to give yourself an allowance of $x for things that are not on your list. Maybe there is a sale on something you’ll need but wasn’t on the list. Could be a close-out special or something. Maybe you see something that you weren’t aware the store carried, or something new. By giving yourself an allowance, you can still basically stick to the list while allowing some flexibility in picking up additional items within a reasonable limit.
Additionally, take the $x you don’t spend and save it! Stick it in a money jar or deposit it in your savings account. That way, when you’re faced with buying additional items at the store, you’ll have a tougher choice to make. Instead of just buying something because it will fit within your overage amount, you’ll have to decide whether you want to buy the item(s) or save the money.
The way I see it, it’s the best of both worlds. You have the benefit of sticking to a list with some degree of flexibility and the added savings if you don’t spend your overage amount.
If you can stick strictly to your list, by all means do it. But, if you’re the type that needs some amount of flexibility, give this a try!
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