Op/Ed: Share Your Penny-Pinching, Dollar Stretching Ideas Here

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It’s easy to find hundreds, if not thousands of money-saving ideas online, in book stores, or in a magazine. But how do YOU do it? What really works for you and your lifestyle? This is your chance to tell others about YOUR best ideas for living frugally, for making that last $20 in your wallet carry you through the week, or learning to do without certain things. Make a list of your top 5, your top 10, or 100 ideas! Whatever they are, if they help you make ends meet between paydays, it’s time to share!

In case you're wondering how to uncover some of the “secrets” of living a simple life, here are some practical tips. According to www.freebies.about.com, you should start by tracking your spending. Write down everything you spend for one month, every pack of gum, every newspaper, every cup of coffee. You might be surprised to find you’re spending $30-$40 a month just on lattes!

Next, work with a budget. If you have trouble doing it on paper, try a simple system like the “envelope system”. Write out envelopes for each category of spending, and place the allotted amount of cash in each envelope. This creates a visual tool for you, and a practical one that says, “There’s no more money to spend in this category.”

Finally, learn to live by this motto: “If I can’t afford to pay cash for it, I can’t afford to have it!” The only exceptions would be major purchases like a house or a car. Other big ticket purchases should be saved for, even if you take advantage of a “same-as-cash” program, and diligently save the amount you need every month to pay it off when it’s due.

As a stay-at-home mom for the last 12 years, it's been my job to figure out how to make one paycheck stretch for a family of three to four people. It's not always easy, but it can be done. Here are a few of my favorite money-saving ideas:
1. Shop for clothes and shoes when they're on sale. Never pay full price!
2. Pay bills online...you save postage and check printing fees by using fewer checks.
3. Utilize your free cell phone minutes wisely! If nights and weekends are free, call your out-of-state family and friends during those times.
4. Make your own coffee and take your lunch to work. My husband can easily spend $30-$40 a week on these items...that's $120-$160 a month.
5. Play a mind-game with yourself when tempted to make an unplanned purchase: "Can I wait until next payday to get this?" By the time the next payday rolls around, do you REALLY still want it, or can you postpone the purchase for another payday?

Okay, the ball is your court, so let's hear some of those great ideas!