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[quote=Anonymous][quote=Anonymous]I am a younger professional (just starting to make somewhat decent money)

I am interested, since I assume the general dcum population is over 30, what are you best budget/money saving tips?

I am finally in the position to stop living pay check to pay check.  So tell me... How do did you build up a savings? Pay off your car? Saved extra money in other ways?

Please share with me your infinite wisdom. [/quote]

have not read past the first few replies- but here are mine:

1) don't increase your lifestyle after each raise.  make pretend you never go that raise and save the increase.

2) max out 401K or Roth

3) buy less house than you can actually afford

4) marry someone who has a good credit score and credit history, and who has the same money philosophy as you - or better

5) don't buy luxury cars. Used lexus at most.  drive them into the ground

6) buy in the right neighborhood the first time, and buy the smallest and ugliest house on the block. it will be priced accordingly and you can fix it up over time.

7) use other people's money whenever possible - via super low interest loans even if you have the cash.  Better to keep your cash for emergencies - because they do and will happen.

8) high deductibles on car and health insurance

9) state schools for your kids.  if they want private, they can get loans to make up the difference between the state school tuition and their tony private school.

10) if you're a woman - NEVER FULLY LEAVE THE WORKFORCE.  If you ever have children, try to work at least part time if you can.

11) buy only ON SALE.  When grocery shopping, buy store brand not label. [/quote]

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