LooseSuits

Netflix if you're a movie freak like I am. You will save yourself TONS of money!

Put x% of your pay check into savings immediately. If you take the money out of your mental "disposable income" pile it will stay in savings.

1) Make your bills automatic. Create a bank account from which bills will be paid and make sure that account has enough in it to cover all your bills plus some extra (for emergencies, should be about 10%). (FYI: Your savings IS a bill, so take that into consideration.) Make your bills automatically draw from that account. (Even better: make all your bills draw from a rewards-based credit card with cash-back, but pay it off IMMEDIATELY every month. This way you get some of your bill money back, or a free trip somewhere if that suits your fancy better.)

The remainder of the money should go to a second checking account. This is what you live on for food, car fuel, clothing and entertainment. Don't use credit cards for this kind of stuff (unless you have the discipline to pay it off immediately after use FROM THIS ACCOUNT.)

2) If you can, get a credit card that will give you 0% APR for balance transfers (this includes it having no transfer fees; most credit cards have a 3% transfer fee, up to ~$75). Transfer any credit card amounts (or retail debt incurring interest) to it and pay that card off religiously. This will keep you from having to pay interest on that amount and may save you hundreds a year.

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Using this system, my wife and I have been able to "find" almost $1000 extra per month. This money, which we were spending on stuff, mostly eating out, is now going to paying our big debts (the car and some credit cards) off faster. In fact, except for my wife's school loan (a mortgage in itself) we'll be debt free in the next year. (The school loan will take about 5 years to pay off if we triple our payment, 30 if pay only the minimum.)

I haven't jumped into the world of online dvd hire despite being told that before - good one peroty

Great ideas on the cards gnorb you really can save a lot by shopping around for a decent credit card and using them carefully.

Search for free coupons on the Net - Dominos, Little Ceasars, and many others offer freebies that few know about.

Have your teeth cleaned and examined at the local dental school.

Open an account at ING Direct. - they pay the best savings rates around.

Donate blood plasma - they pay for it.

@DavidBB: Actualy, for savings check out LendingTree.com's comparison tool. You can do a LOT better than 4.50%. (For example, FNBODirect has been running a special introductory guaranteed rate of 6.00% on savings accounts, 5.25% thereafter.)

By the way, one of my favorite sites for information on stuff like this is MyMoneyBlog.com. I've gotten a LOT (and I mean a whole heckuvalot) of great tips from there.

Stay away from numerous credit cards.

Pay yourself first! Take 10% (or what you feel is a good percentage for you) off the top and deposit it in a savings account, by direct deposit.

Always check your payslips, bank balances and bills - don't just leave them unopened or filed away without looking. You could be getting unfair bank charges, overcharged on your mobile phone bill, or your overtime at work could of been forgotten about.

I was unfairly charged interest on an over due credit card payment - the reason that i didn't pay it? Their internet banking service wasn't working for three days and I had no other way to pay it. They took the interest off my card, admitting their error.

It pays to be on top of your accounts.

One of the most effective tools I've used is to consolidate all spending/revenue into a simple excel spreadsheet. I use Office 2007 which allows you to easily summarize spending by:
Category (Food/Books/Gas/etc.)
Date
Payment Method (Cash/Credit Card)

The point of this is to build a better picture of what's actually being spent each month. Each day $3-$5 for coffee doesn't seem like much (especially if you've got loose change) but three times a week for a year = $468 - $780.

My personal top-ten list:

1. Refuse to go shopping as a social activity.
2. Bike/walk to work (whenever possible).
3. Cook at home and pack lunches.
4. Use the online inter-library loan system for books, movies, etc.
5. Make double-payments on my highest interest rate debt.
6. Take advantage of everything free at work: coffee, Spanish lessons, flu shots, samples.
7. Make mutual pacts with relatives/friends to "just say no" to holiday/birthday gifts.
8. Stay home for holidays, and save travel for off-peak times.
9. Avoid watching TV. It just makes me want things I don't need.
10. Buy good things on sale, care for them and hang on to them until they die. (I bought my bike on sale 10 years ago and still ride it almost every day.)

My biggest one has been limiting my commute by moving closer to work (I'm required to drive so no, I can't take the bus).

I save money on gas maintenance, and personal time (time I could be making more money, right?).

Buy stuff that you need, including groceries, when they are on sale or you have a coupon (make a point of buying at a store that doubles or triples the price on the coupon).
Know in every pore the difference between "want" and "need".

Any extra payments or "found money" (such as the flukey three-biweekly-cheques-in-a-month or income tax refunds or gifts of money on your birthday or during the holidays) should go into a second bank account that you never touch. Gnorb above has some recommendations of high-interest bank accounts that are worth checking out.

This money adds up surprisingly fast, and if you don't see it in the account every day, you won't be tempted to spend it.

Someone else mentioned reviewing our bills before paying. Definitely do this one.

One tip for iPhone users on at&t. If you're on a family plan with two iPhones, save $10 by switching both iPhones to the lowest Apple data plan (200 sms/mo) and then requesting the shared unlimited family plan text plan ($30).

550 shared minutes = $50
iPhone x 2 = $80
Total = $130

vs.

550 shared minutes = $50
iPhone x 2 = $40
Shared Unl. SMS = $30
Total = $120

1. If you drink a ton of Starbucks coffee, apply for their Duetto Visa card and put all your purchases on it. Pay it off in full every month, and then use the Duetto Dollars to fund your coffee purchases instead of paying with cash - it's so easy to spend a ton of money without realizing it when you're paying $4 for a latte here and there without keeping track at all. I've hardly had to pay for a single coffee since I got my Starbucks Visa.

2. Every time you get paid, immediately move a portion of the money into a savings account so that you won't be tempted to spend it or won't accidently chip away at it with little purchases that you don't really keep track of.

3. Don't go "window shopping" - you'll just be tempted to buy. I speak from extensive, extensive experience (I'm a shopaholic, I'll admit it).

Anybody using mint.com? I just signed up, and it seems to have some good features, but I can't get my primary account to import yet.

I like the fact that it's free and I like the way it allows a person to set up reminders and very focused warnings (i.e. if my checking account dips below $100, send me a little note.)

I think it could be a good way to analyze my purchases quickly and ensure I'm meeting my goals. Just wondering if anyone else has tried it yet.