[quote name='Capitalizt']ok
you rich bastards, lol...pretend your rent/mortgage tripled tomorrow. What would you do to cut back and make ends meet? I'm a broke mofo and need some tips. I already work and going to school part time so another job is out of the question
[/quote]
Hey! I resemble that remark!
In seriousness though, it's the simplest and at the same time, most difficult thing to learn - live within your means and stay under your budget. Really. It's that simple... and that difficult. Simple because it's a case of money in, money out. Difficult because it means learning new habits and shedding old ones. First, start a business and learn about itemized deductions. This forces you to learn how to budget and manage which are also skills that translate well on a resume. Second, learn the art of timing. As for the specifics:
[quote name='SmartMoney.com']
Airplane Tickets
When to Buy: Wednesday morning.
Why: "Most airfare sales are thrown out there on the weekend," says travel expert Peter Greenberg, a.k.a. The Travel Detective. Other airlines then jump into the game, discounting their own fares and prompting further changes by the first airline. The fares reach their lowest prices late Tuesday or early Wednesday.
Books
When to Buy: Thursday.
Why: Price compare between major chains Borders and Barnes & Noble. The former releases its weekly sales and coupons on every Thursday; the latter, every Tuesday.
Cars
When to Buy: Monday.
Why: "Car dealers live for the weekend, which is when they make most of their sales," says Phil Reed, consumer advice editor for Edmunds.com. "On Mondays, the low foot traffic makes it seem like the weekend will never come." That dealer desperation, paired with fewer consumers on the lot, give you more negotiating power.
Clothing
When to Buy: Thursday evening.
Why: That's the day when stores stock their shelves for the weekend, and when many retailers — including Ann Taylor, Banana Republic and Express — start their weekend promotions, says Kathryn Finney, author of "How to Be a Budget Fashionista." You'll find great prices and the best selection. "It's an effort to get people to shop in the middle of the week," she says.
Department-Store Wares
When to Buy: Saturday evening.
Why: Department stores have a lot to mark down for their Sunday circulars, so they frequently start the process on Saturday evenings before store closing, says Finney. "They're preparing for the big rush," she says. Bonus: Even if the markdowns haven't been made, many employees will honor the sale price if you ask. Print out the circular preview from the store's web site, and bring it with you when you head to the mall.
Dinner Out
When to Buy: Tuesday.
Why: Most restaurants do not receive food deliveries over the weekend. "Sunday is the garbage-can day of the week," says Kate Krader, senior editor at Food & Wine magazine. "No doubt, they're cleaning out their fridges. Tuesdays, they're starting fresh." Dining out on that day offers the best odds you'll get a meal worth paying for, no matter your price point, she says.
Entertainment
When to Buy: Wednesday.
Why: Plenty of movie theaters, amusement parks and museums offer extra discounts to consumers who visit midweek. Six Flags theme parks offer a $12 discount to AAA members — three times its usual discount of $4. AMC Theatres offers members in its free AMC Movie Watcher reward program a free small popcorn on Wednesdays. (This summer, it's also the day select theaters offer free Summer Movie Camp screenings.)
Gas
When to Buy: Thursday, before 10 a.m.
Why: The price of oil isn't the only factor influencing costs at your local pump. Consumer usage plays a role, too — and weekend demand is high, says Jason Toews, co-founder of GasBuddy.com, a price-monitoring site. Prices usually swing upward on Thursdays as travelers fuel up to head out the following day. By hitting the pump before 10 a.m. (when many station owners change their prices), you'll beat the rush and the price jump.
Groceries
When to Buy: Sunday — or Tuesday.
Why: Maximize savings by combining store sales, which run from Wednesday to Tuesday, with the latest round of coupons from your Sunday paper, says Mary Hunt, publisher of Debt-Proof Living, a money-saving newsletter. "It's a smart idea to wait until you have those in hand to match up with the week's sale items," she says.
To snag savings on items you don't need just yet, shop on Tuesday, advises Hunt. Chances are, the store will have run out of the sale items. "That means you can pick up rain checks, which allow you to buy those items later when you need them, and at the sale price," she says.
Hotel Rooms
When to Buy: Sunday.
Why: There are two kinds of hotel managers, and the kind that won't give you a discount on your room rate has Sundays off, says Greenberg. Call the hotel directly, and ask to speak with the manager on duty or the director of sales. These employees are open to negotiation, he says. They'd rather have a booked room at a discounted rate than an empty room. (The rest of the week, your call would get you a so-called revenue manager, who monitors profits — and is rarely willing to lower rates.)
[/QUOTE]
Lastly, the best piece of advice I can give you is to learn the concept of the 'me' tax. It's a tax on yourself for the privilege of existing. This is not money to be invested or to be spent on frivolous, impulse buys. This is money towards a specific goal. It's a micro version of reverse budgeting (aka envelope budgeting). It's like using a credit card in reverse.
If something is worth $600 like say, oh, I dunno a PS3, then, instead of buying it w/ a credit card, every paycheck, you set aside $50. In a year's time, you'll have enough to buy it. But the point of this exercise is not to save money (that's only a nice side effect). This is to teach you (subconsciously) the concept of delayed gratification. You have that whole year to reflect on that impending purchase and you may find that when the day comes, you don't feel the need to buy the PS3 and put it towards something else that you may need/want to do like a vacation or hookers.
Even better, the guy from the other thread about making a mistake on buying a car can learn
a thing or two on the right way to get things.
Also:
Don't Buy Stuff You Can't Afford
s up your dating life).
