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Recap of first 6 money-saving tips

Ramit Sethi · November 7th, 2008

I’m going on vacation for a few days, so starting tomorrow I’ll be interspersing your tips on saving money with my own.

Here are the tips I’ve covered so far:

Many people have already saved hundreds per month (e.g., here and here).

Quiz: What is your earning potential? Choose the answer you agree with the most
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Finally, if you’re taking the Save $1,000 in 30 Days Challenge, here’s a badge you can put on your blog/Myspace/site:

 

save money

Learn to save money

 

If you embed that on your site, leave a comment with your URL. I’ll check it out and try to send you a free gift.

If you found this post helpful you’ll probably like my new Ultimate Guide to Personal Finance. This is an excellent place to learn more simple ways to improve your personal finance and money management.

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32 Comments

 
  1. So by 30 day challenge you didn’t intend on having a different challenge everyday?

  2. Moneymonk

    I’m more aggressive: save $500 each pay period

  3. moneygirl

    Waiting for tip 7…….
    I’m living in the Netherlands and people are joining me on doing your challenge ;-)).

  4. San Francisco Certified Financial Planner

    I love this 30 day challenge. When we see that there are actually things we can actually do to save money, we are much more likely to do them. And remember, even if a savings tip only saves a handful of pennies, remember those savings add up! I always like to show my clients how small savings can add up to big money over time:
    Save $1 per day = $30 per month = $365 per year
    Save $50 week = $200 per month = $2,400 per year

  5. Great lineup so far. Even if everything (or anything) doesn’t apply to you, maybe reading these tips can help you drum up some of your own.

  6. Hmmmm… Tip #7… Make a profit from user generated content while you go on vacation… 😉

    I was a little put off by this, (going on vacation while the rest of us are counting our pennies? come on!) but I’m interested in hearing what people have to say.

  7. At the start I looked at my average spending and figured this would be easy. With my savings so far I’d have $500 to last the rest of month, and rent is already paid.

    Then I realized that (3 year) average includes buying a new car last year. Factoring that out I only spend $1,100 a month!

    I know my monthly spending has gone up over this time, so I have more room for savings than my average implies. I already save more than I spend; I think I may have to lower my sights for the challenge.

  8. Forgot to mention… I’ve been selling DVDs on Amazon Marketplace after the eBay tip. I’ve made $80 so far, with many more titles to go.

  9. Stop Getting Cheated

    Solid tips so far, Ramit. Have a great vacation and come back with more.

  10. Danny Finance

    I am so happy I found this blog! I blog about finances and money saving tips as well. I think the information you provide is priceless! You should look into a post about money saving tips in specific areas. For example, your automobile (save on repairs, gas, etc.) I find that implementing little changes nets big results.

  11. As a product manager, I must say, savvy SEO tactic you got there with that banner. 🙂

  12. 🙂
    I’ve posted the banner on my site in hopes of gaining interest from my friends and family! Thanks for the good work!

  13. Kelly Anne

    Badge +post.

    I’m going to make a post about it on my blog early next week as well.

    Thanks for the great tips, Ramit!

  14. Jillian Carlson

    Wow! I feel so honored to be picked as an example! I’d say that definitely holds me accountable. 🙂
    I love the badge! Soo happy to put it on my little blog!

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  16. I already saved the $1000. But I went about it backwards.

    It came straight out of the paycheck into my savings account.

    So now the challenge is to live on what’s left from the paycheck and not tap the saved dollars.

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  18. Can anyone recommend a good site to sell used cd’s and dvd’s? something other than Amazon and eBay unless you’ve had the best luck with them.

  19. These are some nice money tips. Keep up the good work!

  20. I already do all this stuff (except #4), so I’m not saving any extra money yet. In fact, I’ve been using the concept of #6 for a LOT more than just fuel for almost a year now.

  21. Queercents » Blog Archive » Queercents Weekly Roundup:

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  25. I wonder if you could make a badge where the user could easily input the number of dollars they’ve saved that day, and then it adds it all up and shows the total savings… Too late to do it now, but having it show an actual number would be sweet

  26. Kimberly

    I posted about the challenge at my blog in addition to adding the badge in the side bar.

    My savings so far: about $130.

  27. Mary@SimplyForties

    This is a great challenge and these are great tips, which I’m glad people are excited about. I’m a little confused though as to why they are any better than the money saving frugality tips you routinely trash. Packing your lunch, selling stuff on ebay and turning down your thermostat are pretty standard stuff.

  28. Jews don’t spend money on Shabbot. Friday sundown to Saturday sundown. Savings for me are about $15. It’s relaxing too. Window shopping isn’t that fun for me. Helps me to spend a day off somewhere that’s not a shopping mall or a Walmart. I’m a big fan of this tip.

  29. I thought it is a silly idea to paritcipate in this challenge. I thought I don’t need anyone to tell me how to save but I was wrong. I decided to give it a try. I admit I am not following all the instructions but I am taking the ideas and applying it towards other things. I would like to let you know that I have already saved over three thousand dollars in five days just by negotiating with different vendors. I have made a commitment to myself to find a way to come up with one saving idea during this challenge. THANK YOU!

  30. All it takes is a bit of will power and a start.

    Hopefully we all can do it.

    sd

  31. embedding, although somewhat late-ish in the 30 day game. I don’t really need you to send me anything, but I quite adore your blog.

  32. Ariel See

    I’m up with the challenge. I will share this to my friends as well. This is definitely worth trying.

    I will post an update once I’m done with the challenge. I will try my best to keep up with the challenge til the end. 🙂