Recap of first 6 money-saving tips

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31 comments — written on 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:

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:

Learn to save money

<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>
</div>
<p>

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.

31 comments

Leave your own

1

November 7, 2008
Ryan

So by 30 day challenge you didn’t intend on having a different challenge everyday?
2

November 7, 2008
Moneymonk

I’m more aggressive: save $500 each pay period
3

November 7, 2008
moneygirl

Waiting for tip 7…….
I’m living in the Netherlands and people are joining me on doing your challenge ).
4

November 7, 2008
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

November 7, 2008
Carla

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

November 7, 2008
Beth

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

November 7, 2008
Bill K

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

November 7, 2008
Ryan

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

November 7, 2008
Stop Getting Cheated

Solid tips so far, Ramit. Have a great vacation and come back with more.
10

November 7, 2008
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

November 7, 2008
Johan

As a product manager, I must say, savvy SEO tactic you got there with that banner.
12

November 7, 2008
Bill

I’ve posted the banner on my site in hopes of gaining interest from my friends and family! Thanks for the good work!
13

November 7, 2008
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

November 7, 2008
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!
15

November 8, 2008
Recap of first 6 money-saving tips | forexaud.com

[...] Source [...]
16

November 8, 2008
Sammy

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.
17

November 8, 2008
Recap of first 6 money-saving tips | debtdeficit.com

[...] See the original post [...]
18

November 8, 2008
Andrea

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

November 8, 2008
Earl

These are some nice money tips. Keep up the good work!
20

November 8, 2008
Amy

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

November 8, 2008
Queercents » Blog Archive » Queercents Weekly Roundup:

[...] of techniques so that even if you can’t save $1,000 you’ll still save a fair amount. (Read it at I Will Teach You To Be [...]
22

November 8, 2008
Recap of first 6 money-saving tips | fixedinvest.com

[...] More [...]
23

November 8, 2008
Recap of first 6 money-saving tips | forexintraday.com

[...] See the original post [...]
24

November 8, 2008
Recap of first 6 money-saving tips | definedebt.com

[...] Originally posted [...]
25

November 8, 2008
Charlie

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

November 8, 2008
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

November 8, 2008
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

November 10, 2008
Brandon

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

November 13, 2008
RA

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

November 13, 2008
Sean

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

Hopefully we all can do it.

sd
31

November 17, 2008
Liz

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.