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Money, Money, Money #7 – The Bargain Hunter 3

Posted on May 07, 2013 by Lisa

7. Look for specials, buy in bulk, stock up on bargains.




This might seem like an obvious tip, but it never hurts to state the obvious.  If you can save $2 on toilet paper, why not save $10 by buying 5 packages?  How much toilet paper would Sheldon Cooper buy if it was on sale for $2 off?   I’m sure if you asked the astrophysicist his answer would be a very logical one.

But I digress…if the toilet paper is a deep discount, don’t buy just one package, if you have the room, buy several and put them in your closet and forget about them until it goes on sale again.    You can do the same with freezable goods like meat, and long shelf life items like cheese.

Avoid paying full price for clothing.  Unless you need to buy a uniform for work, chances are you have a variety of selection available to you.  Shop around, and you’ll find something that you love as much as the expensive designer model for a fraction of the price.  And if you’ve got a second hand store in your area, it can be a great source of clothing bargains!

Money, Money, Money #6 – Use Someone Else’s Money to Pay Your Mortgage 2

Posted on May 06, 2013 by Lisa

6.  Use someone else’s money to pay off your debt.




I’m not taking about your in-laws or a benevolent benefactor.

If you have an extra room in your house, find a room-mate.  If you’re buying a house look for one with a flat or apartment built in.  This is the fastest and easiest way to make your mortgage disappear.  Don’t use the money for other things, slam it on your mortgage and watch your mortgage term dwindle down.

Why use your own hard earned money to pay down your debt, if you can get someone else to pay it for you!  I had a friend just after college who had enough roommates to pay his mortgage and all his living expenses.  Yes there were 4 of them living in 1 house, but he didn’t have to work to pay his housing costs!  That’s right!!  All he needed was a part-time job for discretionary spending.

Money, Money, Money #5 – Save Money by Making a Car Payment 13

Posted on May 05, 2013 by Lisa

5,  Make a car payment.

Save money by making a car payment!


“Wait a minute, I thought you wanted me to pay off my car loan?”  I hear you…That’s what I said.

So, now that you’ve got your debt under control it’s time to start thinking forward.  You’re paying yourself first and accumulating an emergency fund and a nest egg.  So, now is the time to start thinking about avoiding future debt.

Imagine that in 3 years you’re going to need a new car.

Right now I want you to put aside 1/36 of the cost of the car each month.  Put it into a special savings account ear-marked for your next car.  So, let’ say that you want to buy a $10,000 vehicle in 3 years, that means that you should be putting aside $277 a month towards your next car, so that when the time comes to buy a car you’ve got the money in the bank just waiting for that perfect deal to come along.

If your dream car is not affordable in 3 years of “car payments” then perhaps you should rethink the practicality of buying it, or add lotto tickets into your monthly budget!

Once you buy the car, don’t stop there!  Continue to put the same amount away in your car fund every month, as if you’re paying a lender for it.  And use that money for surprise repairs, new tires and other  major car expenses.  Hopefully you’ll get 5 years out of your car, and have plenty of money in your car account to cover the next beauty!

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