Posted on March 22, 2009 at 7:28 am For our family, we have a set amount we put into savings each month.  Other than that, we save change in a jar, recycle cans, do rebates, etc and put that in a jar for future purchases/events.  We usually go to a large carnival every year in July and it is a big expense - we will use whatever money is in the jar for that and then it doesn't hit our pocket book so bad.

Posted on March 23, 2009 at 12:30 am My best savings strategy is to only carry a small amount of cash into the grocery store. If you carry a debit card or credit card, then you may literally max out buying stuff you don't need. Also, avoid ATM fees which can really up to $20 or more monthly, if you only make two withdrawals weekly. Keep a small petty cash fund in your home for daily expenses.

Posted on March 23, 2009 at 1:01 am there are no best strategies for savings. Best way to save is to save every month a fixed amount or whatever small amount one can. many unnecessary expenses like eating out, artying should be cut down as both are known to affect health too, apart from pocket. In times of hardship, like the one now, save only what is possible. Many purchases like fancy items, dress materials, celebrations etc can be postponed till financial situation gets better. Avoid taking loans or purchase on hire puchase schemes, on credit card etc.  

Posted on March 23, 2009 at 1:36 am Nice ideas here how save, I also save some money over the month when I get a coin keep not to spend when I get  a new note I keep it not to spend thus it may be a good amount at the end of the month but when I need some money before the end of the month I have to spend from the saved amount.

Posted on March 23, 2009 at 12:41 pm If you want to save, you have to make a saving plan first. but I guess  the spending and saving ratio could not be decided in just a month. you may try to put it on 50:50 at the first money. when you got you paycheck, you save the certain amount of money according to your plan. try your best not to get money out of you saving if you can take it. after a month, if it is so hard for you to live on such amount of money, try to put the rate on 60:40. and if it is not hard for you, then put it on 40:60. adjust accordingly until you satisfy.

Posted on March 23, 2009 at 1:21 pm The first 1000 is the hardest to save. After this you'll find it. Gets easier and you will feel more motivated to save. Sometimes if I want to buy something that may cost £5 if I realize it's a waste of money I will put the £5 aside. As I was going to spend it anyway I won't miss it. It's a god way to add up some money.

Posted on March 23, 2009 at 1:26 pm I do exactly what star6567 do. Plus when I make sure that my salary went to all sources of debt and made a budget on my expenses for a month, what ever is left is for savings.

Posted on March 23, 2009 at 2:26 pm Piggy banks are useful, but I found since I stopped carrying cash (to cut down on impulsive spending) my piggy has stayed hungry! What helps me is treating saving like a bill, paying a lump sum every month and then being done with it. Of course if I come across some extra money usually I will put some extra into the savings account. The ratio really depends on your income and expenses, but my bank offers a savings account they can link to your checking account, and it automatically takes $25 from your checking to your savings every month. That is less than $1 per day but over a year that's $300. And you can always put more in if you want to/can. It helps to think of the money as gone, once you put it in the savings account, until you reach your goal! If you keep thinking about it as being "there," then you will be tempted to spend it.

Posted on March 23, 2009 at 2:28 pm I just thought of another idea for saving. Unplug your electronics like computer after use or you'll end up paying for electricity that you don't use.  And, buy DVDs at your local swap meet/flea market or pawn shop.

Posted on March 23, 2009 at 4:10 pm Rather than an ratio I would suggest keep a target amount to save say you want to save 200 USD a month. Try various options by reducing wastage of money. Then when you accumulate good amount of money. Make a wise investment !