Thursday, January 13, 2011

Ask the Readers

I am hosting my very first "Ask the Readers" session today. All you have to do is read the question, think about the question, and leave a comment with your answer. One lucky reader will win a $5 Amazon eGiftcard just for responding to the question! Leave your email address with your response. The session closes at 11:59pm tonight.


Your best friend is in debt and wants to save money this year but doesn't know where to start. She comes to you and asks you for your opinion and advice. What is the first money saving tip that you would give?



  1. sit down with your bank statements for the last couple of months and SEE where your money is going. It's a huge eye opener. I like to do it every once in a while to review anyways, it helps to make lists (and mark which ones are neccessary)- and be as specific as misc category (if we can't figure it out, it goes under my name or the husband's name depending on who bought whatever the item was).


  2. Take a look at your monthly bills. Which ones could you get rid of? A little sacrifice goes a long way! Can you live without that high car payment, cable, or a landline phone?

    ecarter at eplus dot net

  3. Get rid of the iphone!!! I JUST had this conversation with my best friend. She constantly whines about being broke. I pointed out that if she's going to keep the phone, she should cancel her internet service at home. I also showed her how I make my weekly meal plan/grocery list using coupons and the sale ad from HEB.
    Now if only I can actually get her to DO these things!
    Amber K.

  4. The first thing that popped into my mind was eliminate going out to eat so much. Whether its actually going out to dinner or just a quick run through a drive-thru, it adds up quickly. We use to be guilty of this and when we decided to cut costs, dining out was the first to go. We started cooking at home more and not only does it help save money but we get to spend more time together while cooking.

    With things getting a little tighter lately, we now plan a menu for two weeks at a time, this gets us from paycheck to paycheck. We always include several meals that will make enough to have leftovers for the next night. I make a list of everything we need to cook everything on the menu, include a few necessities we might need and of course include what the baby needs. Then we go grocery shopping just one time to get everything, once we're done that's it until next payday. I started this last month and I'm really surprised at how much it has really helped us!

    sorry about that, forgot my email. was in a hurry to go check on the baby and hit enter by mistake.
    abbyland2010 {at} gmail {dot} com

  5. Go through all your bill, bank statements etc. Know where every penny goes. Make a list of what you have to have. Water, electric, gas, care, home. Eating out is not a need, cable, movie subscription the thing that you enjoy but can do with out. Start couponing. Only buy what is on sale. There are so many ways to cut back and save. An so many web site to help. We are on one now. So just admitting you need to change your spending habits and then taking action it the best.
    Pay attention to what you buy and is it really a need or a want?
    jspeachyn5 at aol dot com

  6. I would tell her to look at all of her monthly expenses, cable, phone, etc. and see what she can cut back on or get rid of all together.
    zoerc75 at hotmail dot com

  7. My best friend and I recently had this discussion. Two words - Dave Ramsey! His plan involves pretty much all of what everyone here has suggested. Also recommended by Dave Ramsey - emealz. It's awesome for busy families, and I love them because they have now started making a gluten-free menu!!!

    Brandi P.

  8. Visiting from the Thursday blog hop. Great question! I'm a big Dave Ramsey fan and he has tons of great tips and ideas. The first thing the friend should do is create a budget and give every dollar she earns a name, then live within the guidelines of the budget. :o)

  9. Make a list of everything you spend money on, then start making notes next to each what is fixed, and what can be changed spending wise. Alot of times you spend on things you don't even realize until you sit down and spell it out for yourself. Also keep a journal of each days spending as you do it to actually SEE where the money is going. (My friend actually stopped herself from going thru a drive thru for dinner one night because she didn't want to take the time to look for her journal in her car to write down the purchase!)
    smtilton @

  10. Coupons came to mind first, but then I thought about "telling" here to sit down and write out a budget of what she makes each month. Then deduct all the needed expenses to survive... food, shelter, heat, water, car payment/insurance and feminine products (since shes a woman.) After this is done deduct all other expenses in order of importance to her, including coffee, drinks, movies, eating out, phone, etc. Then see what she actually is netting after all bills/expenses. THIS is an eye opener. Do you need that coffee if you are $5 short on a bill? No. Do you need to go out to eat for $15-20 if you don't have milk in your fridge? No. Buy groceries and cut out the eating-out.

  11. Oh wow..well I would first start off by seeing what "extra" expenses she has like netflix out to dinner and so on...then i would tell her to clip coupons and by store brand when she can and that would be my start for my friend.

  12. Well being a youngin, Id say to go buy a paper. Cause you cant save $ til you get those coupons. Cause none of my friends use coupons. Plus its starting small and its not going to freak her out.

  13. Congrats #12 Hilary on winning the Amazon eGiftCard!

    The Frugal Free Gal

  14. I would lend her my copy of Dave Ramsey's Total Money Makeover.


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