Recap of first 6 money-saving tips

November 7, 2008 · 31 comments

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:

Tip #1: Pack lunches for the rest of the week
Tip #2: Turn your thermostat down 3 degrees
Tip #3: Sell something on eBay today
Tip #4: Involve your friends in your savings challenge
Tip #5: Optimize your cellphone bill
Tip #6: Use gas prices to become your own hedge fund

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

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:

<div style="margin:0;padding:0;width:120px;"><a href="http://www.iwillteachyoutoberich.com/blog/announcing-the-save-1000-in-30-days-challenge"><img src="http://iwillteachyoutoberich.com/images/savingsbadge.jpg" alt="save money" style="border:none;" /></a>
<div style="margin:0;padding:0;font-family: 'Lucida Grande', Lucida, Verdana, sans-serif;font-size:10px;text-align:center;line-height:1em;">Learn to <a href="http://iwillteachyoutoberich.com">save money</a></div>
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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 liked this, check out my Premium tips — one long, tactical tip per week. Save money or get a 100% refund.

Previous post: Tip #6: Use gas prices to become your own hedge fund

Next post: Tip #7: Create a “No Spending” day once a week

31 comments

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1 Ryan November 7, 2008 at 11:44 am: So by 30 day challenge you didn’t intend on having a different challenge everyday?
2 Moneymonk November 7, 2008 at 11:48 am: I’m more aggressive: save $500 each pay period
3 moneygirl November 7, 2008 at 11:58 am: 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 November 7, 2008 at 12:07 pm: 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 Carla November 7, 2008 at 12:50 pm: 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 Beth November 7, 2008 at 1:03 pm: 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 Bill K November 7, 2008 at 1:12 pm: 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 Ryan November 7, 2008 at 1:40 pm: 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 November 7, 2008 at 2:44 pm: Solid tips so far, Ramit. Have a great vacation and come back with more.
10 Danny Finance November 7, 2008 at 3:28 pm: 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 Johan November 7, 2008 at 3:57 pm: As a product manager, I must say, savvy SEO tactic you got there with that banner.
12 Bill November 7, 2008 at 4:36 pm: 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 November 7, 2008 at 7:12 pm: 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 November 7, 2008 at 8:14 pm: 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!
15 Sammy November 8, 2008 at 5:51 am: 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.
16 Andrea November 8, 2008 at 6:32 am: 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.
17 Earl November 8, 2008 at 6:43 am: These are some nice money tips. Keep up the good work!
18 Amy November 8, 2008 at 7:19 am: 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.
19 Charlie November 8, 2008 at 10:49 am: 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
20 Kimberly November 8, 2008 at 1:34 pm: I posted about the challenge at my blog in addition to adding the badge in the side bar.

My savings so far: about $130.
21 Mary@SimplyForties November 8, 2008 at 4:54 pm: 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.
22 Brandon November 10, 2008 at 7:40 pm: 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.
23 RA November 13, 2008 at 7:55 pm: 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!
24 Sean November 13, 2008 at 11:00 pm: All it takes is a bit of will power and a start.

Hopefully we all can do it.

sd
25 Liz November 17, 2008 at 4:35 pm: 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.