8 Money Saving Tips That Helped Us Save Over $40,000 FAST (In Less Than A Year)!
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- Опубліковано 25 чер 2024
- Are you tired of never having enough money? Do you feel like you’re always broke and never able to save any of your hard-earned cash? We have been there too. But then we discovered these 8 money-saving tips that helped us save over $40,000 fast (in less than a year)!
You don’t have to be a millionaire to save big. My husband and I were able to save over $40,000 in one year by implementing simple money-saving strategies into our daily lives.
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I’m so very happy to have you here. We are all about saving money at Frozen Pennies. Whether you have a goal like debt freedom, purchasing a home, retiring, or just making ends meet, we are all about making that happen. Here you’ll find tips on saving money on groceries, ways to tweak your budget, and living an overall frugal life (all while having more fun)! Thank you for supporting my channel.
About Sara:
Sara is a wife, mother, and creator of Frozen Pennies. With a degree in English, a former teacher, and a Certified Financial Coach through Ramsey Solutions, there is no better place to learn about debt freedom, budgeting, and overall frugal living.
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- Links included in this description might be affiliate links. I may receive a small commission if you purchase a product or service with the links I provide at no additional charge to you.
- Information on this channel (Sara Conklin, Frozen Pennies) only represents my thoughts and opinions. I am not a medical doctor, medical professional, or financial advisor. However, I am a certified financial coach through Ramsey Solutions. All content on this channel is intended for informational & inspirational purposes only. Don't hesitate to contact a professional with any questions. This video and all videos on this channel are a means of social support.
Have you ever set a big financial goal and succeeded? Give us your tips!
I saved enough to retire age 54 years old
My hubby and I bought our first house in 1981 and put it on a 15 year loan. By making extra payments on the principle (we put pay raises and bonuses on the loan) we paid our first house off in 11 years. Although we have moved several times since, by being frugal and living a bit below our means, we have never had a mortgage (or any debt) after paying off that first house.
I learned hard way not to pay for high class hotel room or apartments will cut this down to once per year at quest two nights for three adults
I went three of us up cycle one night at water front they charged us $600 for night for a fold out couch a single bed toilet shower hand basin nothing else provided tipe off big time never again took me about a month to stand up on my feet
At least at quest we can buy supermarket food cook eat at hotel
Save your pennies, pick up recyclables, dont buy things you dont need, use your stuff until It has holes or doesn't work anymore, dont buy junk food, don't eat out, just stick to meats, veggies, fruit, and healthy breads and last one cook at home!
So true!
We don't eat out. I cook and I buy stuff on sale and either freeze or can. We plant a garden and have 6 chickens. My husband is a Trucker but only eats out 1 time a week. He mostly eats stuff I send with him.
I love this! Sounds like you’re doing great!!!
I try .
I like to camp. Right now, it costs me nothing. Reason being?
I have horses and rent a field. I do all the work, from fixing fences, to mowing, etc. Because of this, I get a great deal on the field.
When I want to camp out, I put my tent up in the field. I do put some ropes up to keep the horses out of that area. I don't have to worry about any other campers. My dog can run around as much as she wants. I have a portable, camping toilet out there. There's electricity and water. What more do I need?
Sara! You would be so proud of us today. Now, it's a special occasion. My gf & I had our 2 year anniversary this week. And so, she told me - pick a place & I will take you out to eat. Now, this is a sweet gesture for your norm. I, on the other hand, am an odd duck. I have lots of trouble eating out because it brings a little childhood trauma, if I'm honest (too much, all the time). And I'm vegetarian. So I always have to adjust something. And even more honestly, I can probably make it better at home. I'm critical and I dont like putting on a happy face just because I'm out :D So I told her, how would you feel about taking that $ & putting into our vacation fund. She was totally fine w/ that. We saved at least $40-50 + who knows. Could we have gone out? Yea, totally. But I look forward to going somewhere special as opposed to going out for a treat. Plus we just bought groceries. We HAVE the food.
Anyway, thought someone might like that.
Also, I'm searching for auto insurance plans for my car from TX, and bc I've been saving money....I can purchase a 6 month plan or even a year & feel comfortable. And I LOVE that for me. I just wanted to share bc I'm proud of myself. Thanks for reading :D
If you have a Costco membership, check with the insurance carrier they partner with. We lowered our auto/homeowners insurances by over $1000.
I love this so much!! So proud of you!
My top 10. It boils down to: 1. Don't have a huge mortgage payment (if you are paying 30% or more on a mortgage, it's very hard to save, because that's 1/3 or more of cash gone, right away, although of course, they say a mortgage is re-investing in yourself due to equity in a home, but only if you plan to sell it therefore having to buy another home anyway), secondly, 2. your car payment (low or no car payment is one way to save a significant portion, as most people now have to spend 10-20% of their take home pay on this.)... besides those two, which at this point, you may not have a choice about it, unless you sell your home / vehicles and downsize - you CAN however, control your food budget, cooking most meals at home (that is the next largest expense, there are a ton of youtube videos on the frugal grocery store strategies, but basically, buy your stuff at Aldi), call to try to negotiate on lower insurance premiums, which at this point, if you have had any claims, you couldn't do much about it now, but if you're like me and work at home most days, DEFINITELY report your low mileage to car insurance, and it absolutely MUST make a difference in your premiums. 3. Those subscription services, the #1. biggest offender being "cable" - I paid over $100/mo for many years on regular cable, very basic channels, and I've found it's much more cost effective to just cancel cable and pay for high speed internet, which brought my bill down to about $65 /mo. and also any other subscriptions you are not using to magazines, club memberships, other streaming services, sirius satellite radio, etc. 4. Going back to your grocery budget: clip online coupons, it's very tedius, and not many people will have the time or energy to dedicate to this strategy, but if you do, focus on the items you buy the most of, and shop sales around that. 5. Have no or fewer kids. This is almost a joke but it's the #1. cause of most families going into poverty. Childcare is insanely expensive, and if you choose to stay home, you're down to one income. The cost of raising even a single child will drive your expenses up to something a child-less person wouldn't even be able to fathom, buying Christmas gifts, the latest gadgets, gifts for birthday parties, food, doctor visit bills, clothing and shoes (for every season as they grow out of them.) Trust me, it's not a decision that you shouldn't at least consider your finances on, although it's truly a very personal decision and worth every penny if you DO decide to have children because it's priceless, but i'm just saying... lol.. 6. Lock in rates on your gas bill, if they offer it, to make sure you are getting a fair deal, as your power bill, whether that be electric or gas is a big one. 7. Drink coffee at home. Starbucks is a culprit. 8. Buy a few high quality items that will last for many years (timeless cable knit sweaters, comfy jeans, high quality ugg boots, ) etc. vs. trendy fashion items that are less comfortable, more expensive because you have to replace them quickly, and look worse after wearing a few times. 9. Take advantage of credit card offers on 5% cash back or bonus offers like spend $500 and get $250 back. Before you get these offers it will take you years of paying off credit cards, however, so if your credit is already bad, you won't have this option. If your credit is good, use it wisely to give yourself more time to pay off large purchases such as furniture at 0%, which is offered at many stores, or electronics, which you can use either the store card, or preferably shop around for a credit card that gives you a bonus introductory offer. These deals come in so handy to get what you want all at once, without the pressure to pay it all off at once, and you get cash back, but it requires skill and discipline to do this. 10. It seems incredibly obvious but again, shop sales. That includes Black friday, etc. for holidays, and usually you can get the black friday sale prices about a week BEFORE Thanksgiving, and then it will actually BE in stock and not sold out. By the time Black friday is here, there is too much of a frenzy and customers end up buying items NOT on sale because the item they originally wanted sold out!. A sneaky strategy... You can save 100's of dollars on big ticket items, and at the same time, if you have your handy no interest, cash back, rewards credit card ready - you're double saving, getting a chunk of your money back, say if you used chase freedom unlimited and got your $200 cash back on $500 (or any credit card offering this).... bonus tip, occasionally, banks and credit unions offer a cash reward for setting up an account without having to have a direct deposit, for example a credit union in my area (local) offered a free $150 cash reward for setting up an account, depositing $500 and making at least 10 debit transactions in the next 6 months, so basically if you have a few hundred saved, use this"! There is no risk, it's a no brainer, you're getting paid to use your own money that you were going to spend any way.
Great tips! Thanks so much!
People's feet stink. UGG boots smell. Go for a regular snow boot if that's needed in your area otherwise save your cash
We camp as well. The skillet, bathmat, etc, came from Goodwill.
Gotta say you guys pay a lot in the US for basic services. I pay 8 EUR a month for my phone and all my subscriptions cost 30 eur/month. I also use public transportation which costs only 29 eur/month (and it's very good). Recently I've heard about the price of eggs in the US and it sounds insane, i pay 2.6 eur for 10 eggs here (Germany)
Yeah. Some of the stuff here is really crazy!!
We have public transport, but the system isn’t well developed. Also we have an out of this world problem of homelessness, most of them have mental illness and they take the transportation or hang around at the stations, so it’s quite unsafe to take public transport. So some people end up driving and they have to carry more expense. This is crazy.
Agree with you. Add in health insurance and medicine cost it is crazy.
5:10 : $25 a month savings on subscriptions times 12 is $439?
$200 a month groceries for one adult though my twin 26 year old twins live at home with me they have their own money do their own shopping one cat one chicken household
Thank you for the video
Thanks for watching!
We only eat take out my birthday or a special occassion I do but a coffee twice a week and bread product twice a week though needs to be cut down
We now live in England, but when we were living in the US we tried to ditch cable, and internet alone was just as expensive as internet + basic cable... And sadly we didn't have many alternatives for internet providers where we were living.
That stinks. Our internet isn't cheap and the company has quite the monopoly here. But the internet and few streaming services still come in cheaper!!
I love your videos!
Thanks so very much! And thanks for watching!
Eating out is ridiculously expensive and terrible for your health. I love cooking, even as a single person....Mint mobile is a great cell phone service. Only $20 a month! And I never bother with cable or streaming services. UA-cam is enough for me.
Twigby for cellphone......🤗
I really enjoy your channel and frugual queen of france to professional wise mentirs
Thanks so much! And thanks for watching!!
May I ask how long have you been debt free?
We have been debt free for 7 (or 8??) years and we paid off our house almost 6 years ago.
Could you talk about finding health insurance after you retire? We are Planning on retiring in our late 50s and very interested in learning what others have done for frugal options. Thanks
@@saraconklinfrozenpennies - So did you have car payments last year or previous years being debt free? Are you still able to feed your family for $500 a month? Its hard for me to keep under a certain amount with all the inflation now..
@@Fritz0616 We did not have car payments last year. And yes, I can keep it under $500 on a "normal" month. For example, January was $480.48 for groceries but that does not include eggs from the local farm.
@@colleenwebster8762 Here in NY we can "go to the marketplace" for insurance. Because it felt pretty intimidating for me, we went to see an insurance broker. it did not cost us anything and was super helpful maneuvering through the waters. I've also considered health-sharing platforms but it makes me a little nervous.
I really wanted to like you given your view count but I’m out after this video. 1. I don’t know where you live but $35 a day for breakfast and lunch is insane and not realistic. You can get a breakfast sandwich for $3 at McDonald’s or Wendy’s and a full lunch in a box at Taco Bell for $5.
2. You aren’t saving money by not spending the average amount spent.
3. Your husband can make his own breakfast and lunch.
Take care.
You didn't save you just no longer had those bills. Stop the lies
Had you listened until the end, I explained this as well as the fact that we DID save. Thanks so much for watching!
I get annoyed with some of the channels I follow, as well. However, this reaction is excessive and (imho) misplaced. Paying off a loan saves is several fundamental ways: first, it frees you of a debt. Your net worth changes immediately. Second, you now have much-improved cash flow and options that go with it (invest it, upgrade an asset, etc.). Those are the two biggies and the opportunities are several times greater.
Another way to convey the value of these decisions is to present it as next year’s budget: (1) you pay off your car and your monthly expenditures drop $500; (2) you cut streaming and phone to reduce your monthly outflow by, say, $100; and (3) changing how you spend on food protects another $50 of your monthly income. Now $650 of your income is huge (a serious raise) and you’re back in charge, a whole less vulnerable, etc. I took 2 years to make changes like you describe and I have reduced my spending by nearly $4K annually. Divide by 12 and thats $300-plus each month saved. Many people wouldn’t have the first idea how to do that. You’re showing that it’s doable, creative, and within reach.
Gosh, the words lies and lying get thrown around so casually these days.
When one manages to end payments on a car, closes out the mortgage, or gets out from under payments (obviously not utility bills, etc.) the cash freed up is often a significant percentage of one’s income. A good manager will capture that money and redirect it to savings, increased retirement withholding, and the like. Alternatively, one can do what many without a plan do and let the available savings slip away. So it really is a matter of save it or lose it.