Well, I figure I must be doing something right. Today I went to church with my mother in law and in a lesson there they were talking about living within your means.
We discussed budgets, and I was surprised, listening to all the women discuss how they budget. Most seem to pay everything, then if there is money left, they put that in savings.
I work the opposite way. I pay my tithe, then savings, THEN everything else. Otherwise you will never save. I was about to tell everyone this when the lady teaching us read a quote from one of our church leaders, L. Tom Perry, saying exactly what I do. I do not remember the exact quote, but it was alonghte lines of how everyone pays other people first, the grocer, the butcher, the electricity etc... but neve pay themselves.
The biggest step towards saving is putting some money away each pay first, then learning to live with what is left.
Most people seem to advise us to put away between 5% - 20% of your wage. This probably seems like a lot of money, but we soon adapt.
I have found for some people it works better to start off saving $10 a pay. Putting it in an account they can't touch and don't use, then as they get used to it, (Most people wont notice $10 missing each week) they gradually increase it, $20, $30, $40 etc... til soon they are saving %5 or 10%.
I started this way. When I got my first job, I set an amount to save each week. Since I was an apprentice earning only $220 a week, but was living at home, I saved 1/2 my pay. The rest went on board, bus ticket and things I wanted. As my circumstances changed, so did my budget. When I got married, our finances were very different. We had significant debt and our costs were much higher.
I started out by paying a certain amount off the debt, and still trying to save $50 a week.
Now we save much more, have an emergncy fund and never have to worry.
So my biggest piece of money saving advice is ...
PAY YOURSELF FIRST!!!