I’ve had a long couple of days at work.  I’m looking forward to the day when I can fire my job and have my own business.  More on that some other day!

I’ve been thinking more about those who live on very limited means and I’m thinking about ways to stretch every penny.   I thought that perhaps I would share a few of the practical things that my wife and I do to make our money stretch.

    5.  Clip Coupons.  My wife reviews the coupons in the Sunday paper.  She also reviews the grocery ads and puts together a grocery list which often combines the coupons with specials in the ads.  Look for stores that double or triple your coupons.  The point on this one is to save as much as possible on your grocery bill.
    4.  Cook more meals at home.  Not only will the meals be healthier but you will also save a tremendous number of dollars by doing so.  I average about 10 dollars per meal when I eat out.  When I pack a meal, it’s about a couple of dollars and we probably eat out once or twice a month.  (Note:  We do splurge on occasion, such as our debt free celebration a week ago.  Check out our celebration if you’re interested.)
    3.  Save on clothing.  Here’s the thing I’ve noticed about clothing.  You can buy the same item for many different prices.  If you have more time than money (which is frequently where I feel I am!), take the time to watch the clothing sales and catch great deals in the off season.  I’ve purchased a nice $100+ winter dollar coat for about 20 dollars on the clearance rack at Kohl’s.  Often, saving money or getting a great deal is about being patient.  I recognize that sometimes one needs to have something right away.  I’ve found that a little planning goes a long way because if you know what you need, you can wait for the right opportunity to get it at the right price.
    2.  Avoid taking on debt.  Debt is giving someone else the right to tell you where to send your money.  It’s also very expensive.  The money you spend on interest could be buying food, gas, or paying for your rent or mortgage.  Taking on debt is the last thing you need if you’re struggling with money.  I understand you may feel trapped and believe there isn’t a way out.  Please, take a chance and don’t borrow.  It will only make your situation worse. 
    1.  Patience and Planning.  I already hinted at this and here is the deal.  Most financial decisions, both poor and great revolve around these two things.   I should know… My name is Chris and I like stuff.  I wasn’t a shop-a-holic by any means.  But I liked my stuff.  I liked buying things for my wife, ironically she didn’t like most of it.  Computer gear and while somewhat money conscious liked to spend it.  As it turns out, I’m not alone.  I’ve had house and car fever.  I’ve seen others with a serious fever in these areas.  That was me 3.5 years ago.  Not any more.  Yes, I will get some nice stuff, but we budget the money and save until we get it.  Most poor financial decisions stem from impatience and lack of planning.  On the other hand, most financial success stems from patience and planning. 

That’s a bit of a mind dump on some things that we do.  We’re going to try a garden again this year.  It’s been about five years since the last time we tried that so it will be interesting to see how that turns out.  Feel free to submit your money saving ideas or tips you have.  I may compile a list to put in the resource section of the site.

Finally, for a ton more money saving tips and ideas, check out Joe Sangl.  This dude is fired up about getting people out of debt and is chocked full of knowledge.