Help on how to save money?

[el_tejas_gringo]

How do you guys save money? I am 25, and I am trying to save up for a down payment for a house. However, it seems like every time I start to get a little ahead something comes up that I have to pay for; I take one step forward and then another step back, just pretty much staying where I started.
For instance, I dropped my truck off this morning at the shop to get my alignment checked and then got a call that all my upper and lower ball joints are bad and that they needed to be replaced so that the alignment would stay; now I'm going to be out a little more than $1000.
I know many of you will say to cut out unnecessary expenses, but I'm already pretty frugal as it is. I make all my breakfasts, lunches, and dinners mon-fri so that I don't eat out during the week. I don't go shopping/online shop, or impulse buy; I pretty much only buy things if it is necessity. I don't go on fancy trips or vacations (to much displeasure of my girlfriend) where I am having to spend a lot of money.....etc, etc.....im sure y'all get the picture.
So again, I am seeking some advice as to how to better save money to help me reach this goal, but also for the future.

Thank you all in advance!

[BlackHogDown]

In to see what the more "seasoned/experienced" guys have to say.

In a similar situation and would love to hear some saving strategies for young dudes with minimal debt

[Eagle19]

What I've had to do was learn how to do things myself especially car maintenance. I probably saved $4000 in college while doing all my own car maintenance. Ball joints are easy and I would do it in my apartment parking lot. You might pay $50 per ball joint, and rent the kit to remove them.

The other alternative is to make more money.

They also have an app now called acorn. So everytime you do spend money it rounds up what to the nearest dollar and will set that money aside for you.


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[M16]

Sounds like you have an income problem. The old saying of "it's not what you make, but what you save" is bs. If you don't make enough money you can't save any. Get out of the rut that you are in income wise. Either a second job or find another one that pays better. Do you have any skills where you can make some side money?

[AntlerCollector]

Sounds like you're doing all the right things except making enough money for what you want.

[coogfan]

A written budget is a great starting point. I would also look into Dave Ramsey's principles.

[Traildust]

Drop the smart phone....basic cell phone, kill the house phone too.
Drop the Cable and/or direct TV
Drop the Hunting lease, fishing boat
Drop the drinking, partying and dining out
Get some side work. People are lazy and will pay you to do work for them.

All that's temporary inconveniences.....you can do it for a little while. You'll be surprised at how much you can save.

[el_tejas_gringo]

Income isn't exactly an issue. I make decent money, and I am about to receive a raise, but I am putting 13% in my 401k. My main problem is just the large chunks of money that I seem to have to dish out when something comes up, and it just seems like there is always something happening. I guess it's just life, but still looking at ways to better save money.
I'll definitely look at that acorn app. I use to always save my change back on high school when I cut grass and always had cash; before I had a bank account and a debit card, so now I rarely have cash in me.
Good advice here so far, keep it coming!

[Mr. Whiskers]

Stay out of the classifieds. Sorry, that's all I got.

[ultralite09]

Im pretty much same criteria as yourself, im 26. Granted, Im not as frugal as I know I could be since my only 2 hobbies are hunting and fishing, im gonna enjoy the heck out of it.

Knowing I used to make it by living off an annual salary of 36k at one point in time makes it hard for me to come up with a legitimate excuse for not saving more.

Biggest thing that got me back on track was making a budget and not "seeing" my money. I have 2 checking accounts, a savings account and my 401k where my paycheck gets distributed into each check.

Checking account #1 is for all my fixed costs like monthly bills, gas, groceries,etc.

Checking account #2 my "fun" account for spending. so things like going out for drinks, date nights, trips to the lease, guns, and pretty much anything that is not a life necessity.

And of course my savings and 401k are self explanatory, they never get touched and I have no intention of touching my savings at all unless its an emergency.

At the end of each 2 weeks, Ill transfer whatever remaining balance I have in my "fun" account into my savings if im not anticipating needing it.




I could be completely wrong in my approach but its been working for me.

[Charles]

Written budget

Write down every expenditure to the penny.

After a couple of months you can review to see where your money goes and make necessary adjustments.

Always have an emergency fund ($1,000 minimum, more the better) at the ready so when unexpected expenses rear their ugly head you are prepared.

Like the other guy said you might have an income problem. If so work on solving that issue.

Pay yourself before paying anything else.

Savings and budgeting is all about discipline

[35remington]

How do you guys save money? I am 25, and I am trying to save up for a down payment for a house. However, it seems like every time I start to get a little ahead something comes up that I have to pay for; I take one step forward and then another step back, just pretty much staying where I started.
For instance, I dropped my truck off this morning at the shop to get my alignment checked and then got a call that all my upper and lower ball joints are bad and that they needed to be replaced so that the alignment would stay; now I'm going to be out a little more than $1000.
I know many of you will say to cut out unnecessary expenses, but I'm already pretty frugal as it is. I make all my breakfasts, lunches, and dinners mon-fri so that I don't eat out during the week. I don't go shopping/online shop, or impulse buy; I pretty much only buy things if it is necessity. I don't go on fancy trips or vacations (to much displeasure of my girlfriend) where I am having to spend a lot of money.....etc, etc.....im sure y'all get the picture.
So again, I am seeking some advice as to how to better save money to help me reach this goal, but also for the future.

Thank you all in advance!

Dave Ramsey is a great place to start. Click here: https://www.daveramsey.com/get-started/budget

If you decide to do this, I have an extra envelope system I can send you, plus also maybe a book if I can find it. I'll pay shipping.

[willwork04]

Search for threads on this. There are ton with some great insight.

-Shop car insurance
-Shop electricity
-Cut TV cord
-Reduce cell phone data plan and work off WIFI as much as possible
-Make sure you are buying the cheapest consumables you can
-Plan for problems -- once you know you are getting towards end of life on tires, start looking for deals.
-Change your own oil and learn to do minor car maintenance.
-Do you wash your vehicle or do you get it washed?

[solocam_aggie]

So I just sold my paid off truck for $15K. Bought a commuter car for $4,500 and paid off other debt. Im shoving money back now and getting things paid off quick. Sucks driving the car as I've always had nice vehicles, but it will be worth it in the long run.

[BullsOnParade]

Check out Dave Ramsey. He has some of the best advice/strategies on getting out of debt, saving, and budgeting. My wife and I have been following parts of his plan for a couple years now and it's been great for us. I also recommend his budgeting app, Every Dollar. It's $10/month, but it's worth the spending/budgeting arguments it saves, IMO.

I'm a big proponent of him and his strategies, but good luck.

Also, you're doing great (and probably FAR better than the majority of people your age) on your 401k.