Strategies to Save Money

strategies to save money

Nowadays, strategies to save money may be as equally important as ways to make quick money. People may be losing money in their 401k retirement plans, so saving money seems to climb the ladder of importance.

But to us, great money saving strategies don't include driving around for the best gas prices. That takes too much energy. To us, they don't include taking the Sunday paper and spending all morning clipping out coupons. That takes too much time.

Being wealthy doesn't mean living an impoverish life. This is the opposite of a millionaire mindset. Being poor is not pious. So, strategies to live poorly are not the ways we endorse.

We like the tips to save money that make us more efficient and effective with our time and well as money.

What We Have Learned

Our saving tips may be different from others.

  • We get budget help using budgeting tools like our own Personal Budget Tracker to determine where we can save.
  • We encourage building an emergency fund.
  • Our tax saving tips help us save on taxes today rather than defer them in a tax-deferred investment.
  • We like strategies that make us more time efficient and effective. Saving money does not have to mean giving up luxuries. For us it means having your dollars work to its fullest economic potential.

Saving money is not all about spending less on everyday items. Learning different strategies may require an open mind and a willingness to learn. It has allowed us to learn about and save money through:

We always encourage taking a macro view of your entire finances.

We often see that people have conflicting savings strategies. Some try saving taxes in one pocket and while getting rid of tax savings in another (investing in your 401k while paying off your mortgage early).

Saving has to compliment all strategies in order for everything to be working efficiently. There are practical ways to save money that make your money and time more efficient where you don't have to sacrifice your lifestyle.

Share Your Own Strategies to Save Money

If you know some great, unique, creative ways to save money, share them here. Saving is one thing. But, if you can share that knowledge with others, then you're gaining at the same time.

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