How do you save money?

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how to save money homeless manTHERE’S ALWAYS A WAY


I want to learn more about the savings task that so many people struggle with. So tell me, How do you save money?

We all tend to save money a little differently but for many reasons not necessarily for the long-term.

Today I want to walk you through conversations I’ve had with a homeless person and a homeowner to understand how saving money differs depending on lifestyle.


Save money…. What is that?


So many people laugh when they read about saving money because they believe there is no such thing. This is a common mindset we have because we believe that if we don’t have excess every month then there is no possible way. Most people who do manage to save, find a way.

There’s more to saving money than living frugal meaning you save money on sales etc. People easily overspend while simply shopping for food and other items on sale.

That’s why the term “window shopping” is the best way to shop if you don’t really need to buy anything. Leave your wallet at home.

Do we really know where our money is going?


A homeowners struggle to save money


While I was taking our son for a walk this weekend I stopped to chat to a neighbour. He casually brought up Spring cleaning and how nice the weather was outside. You know, idle conversation although I always like to, you know…dig a little.

I asked what kind of Spring clean-up they planned on tackling first and he said the cheap cleaning jobs. What do you mean by cheap cleaning jobs, I asked him? He told me that they would be  chores such as cleaning windows, driveways and getting the garden ready. Simple stuff that doesn’t cost much money.

Fair enough I thought.

He told me that they weren’t able to save money this year like they did the year before. Normally they like to save $5000 a year to do renovations and other projects around the house but it wasn’t going to happen this year.

I asked why like a little kid who needs to know all the answers. In adult terms that means, I’m nosey. One of these days someone might shoot me down and tell me to mind my own business but hey, he started it.

Typically they would save a certain amount of money in a savings account which come summer would fund any projects they needed to be completed.

That pretty much sums up what we do.

Last year they struggled to do this because instead of saving money they found there wasn’t as much left at the end of the month to save.

I asked if he uses a budget and he told me no which was fine because many successful financial-minded people live without a budget. The problem was they were overspending their money. That means they were spending more than they earned each month

This is a common reason why people get themselves into debt or into the cycle of living pay to pay with little to no savings. It’s not a hidden secret either, its common sense BUT it’s not that we don’t have this sense we choose to not take the time to invest in finance until there’s a problem.

So then he says to me, “How do you and your wife save money?” Not everyone is comfortable talking about personal finance but if someone wants to, I’m game as long as it’s their money we’re talking about.

I for one don’t like talking about our personal finances but I don’t mind being vague about it. I told him straight up…We Budget!

It’s no secret here on CBB but that budget is the reason in part that we are debt free BUT from a financial standpoint only. There is so much more to debt freedom and having emergency savings set aside than putting a budget together.

You have to want to make it work.

If you think a budget is going to work on its own you are going to be VERY sad when you aren’t making any progress. Then you will blame the budget, stop budgeting and try to find other excuses why you can’t save money. The only reason is you aren’t trying hard enough to save money.

If a homeless person can do it, so can you. You don’t think that’s a fair assessment? If someone who literally has nothing can step up and save a dollar or two out of necessity then you too can find a way to save a dollar.

Sometimes we have to do things out of necessity and not choice. For those of you that do have a choice it may fall on a less stressful spectrum than others.


Living on the streets


I’ve talked to many people who are either financially rich meaning they can afford just about anything and I’ve met many people who are in debt, struggling to make ends meet or living on the streets.

I’ve had a conversation with a homeless person before and you know what, they save money too. Sounds odd considering most often they don’t have any cash to begin with, but hear me out.

I spoke with a homeless woman we knew although many would not think she was homeless,but she was. You’d be surprised how many homeless people are out there and you don’t even know it. She lost everything she owned when she went bankrupt and found herself on the streets. We knew her from mutual friends.

She had a job earning a decent living but that all came crashing down when she got divorced and lost just about everything due to secret debt he was hiding in both their names. Being laid off from her job was the clincher and what ended her “frosted life-style”. Saving money was not something they though of doing because there was always a pay cheque.

She applied for welfare but struggled to find a place to live and she just fell deeper into the street system. Eventually she started sleeping with men for money. We know because she showed up at our doorstep more than once crying. She wanted to change.

She always had a story to tell about her life and what was going on. We were shocked with what was happening in the underworld, a world we were not familiar with. It wasn’t the life she wanted but it was a life-cycle that gave her an income of sorts.

She’s not the only one that lives this life. You’d be shocked to see what happens in every city even the small towns with people you know. You only have to go on some public websites to see how many men and women are selling their bodies to make money. It’s horrible, but it happens.

For the most part the homeless may live on handouts, small cash jobs and maybe government assistance. Just because someone gives a homeless person a $5.00 bill doesn’t mean that they will spend it all in a day either.

The perception of homeless sitting on a street corner with a bottle of booze is just something that we’ve all come to believe. Not all homeless people are this way nor do they dig through dumpsters. There are different types of homeless lifestyles depending on how one goes about it.

There were days where she had no clients, even weeks went by so she had to make sure that she saved money to get by on. She wasn’t renting hotel rooms to sleep in she was on the streets with a blanket she carried in her bag, sleeping on a couch at someone’s house or community services for the homeless.

Most days she would spend in public places such as the library to read or hanging out at the mall or downtown shops. She walked everywhere she went but in the winter she kept to one area. She managed to get food from the local food bank and soup kitchens.

The money she had she kept inside her bra so no one would steal it from her. She risked her life to stay alive. No, she didn’t have to go this route but sometimes it’s easier to say this than to live it.

We haven’t heard from her in years and we hope that she is getting the help that she so desperately needed. Maybe, just maybe she has pulled herself out from the streets and is getting back on her feet again.

We all have a story, don’t forget that. So you see even a homeless person has ways that they save money because that next $5.00 bill might not come for a long time.

Many of us take for granted even the smallest of savings thinking it means nothing unless the numbers in the bank account are growing. Every bit counts but you must have patience to watch it grow. If you have to pay off debt, pay your debt but make sure you save a bit too just in case you need it. Balance is key.

When I ask what saving money means to people I find that we all have different perspectives. Saving money for the homeless woman may have only meant for day or two but saving it is better than having nothing at all.


How we save money


I’ve pretty much been an open book with our budget and net worth updates on CBB that if you want to know how we save money all you have to do is read about it.

There really is more to saving money than just budgeting though. As you all know I stand behind my motto of “It’s not about how much money you make it’s how you save it.”

Money is going to be part of our lives forever so we better start treating it right otherwise we will see generation after generation of people who are not only in debt but have nothing in the bank.


Saving Money Tips


When we set out to save money there were a few things that we followed and continue to follow to this day. I will share these savings concepts with you but remember that however you choose to save money is up to you. It’s relevance in your life needs to be assessed now and not just when it’s an emergency situation.


Spend less than you earn or earn more


You know I can say this until I’m blue in the face but unless you have a secret stash that won’t run out you need to spend less money to save money.

If you can’t possibly spend less money than you need to earn more money or move somewhere cheaper, get rid of cable, internet, cell phones. Start learning all the tricks of the savings trade when it comes to shopping too because most people spend a fortune at the grocery store.

Check out my Ultimate Grocery Shopping Guide~


Budget or track your finances


Not everyone has the means to budget or wants to use an actual budget and that’s fine provided that they are saving money and paying down debt.

There’s no point complaining if you can’t do it with our without a budget. If working without a budget isn’t cutting it give budgeting a serious effort and stop being so negative.

If you’ve tried budgeting and it doesn’t work for you then track your expenses however it works for you and hopefully you will still come out on top spending less than you earn whilst saving for a rainy day.


Be Optimistic and stick to a plan of action


A plan, yes you need a plan to achieve your goals. If you go into a savings plan or budget with a negative mindset you will almost always fail.

If you create a plan stick with it even if you fall off track a bit. Figure out what went wrong and don’t make the same mistakes again.


Don’t feel pressured to conform to society


Social media creates a world that people think they need to live in to be successful or seen as part of the in-crowd. We’ve done this to ourselves and because we have technology to broadcast it debt loads continue to grow because many of you are too busy trying to keep up with everyone else.

Just because you see that everyone else goes shopping for new clothes and has the latest smartphone and flashy car doesn’t mean you need it. Having toys and stuff doesn’t make you rich, maybe on the surface but broke in the bank.


If you want to save money then you need to take control of your finances. There’s no other way but to either accept your financial situation or make it better then do the best you can to save money.

So, tell me… How do you save money?


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  1. This is a very interesting. I wonder if your friend had continued in her job and previous life if she could save? I think sometimes people need a real push to change their lives around. Although her change has sounded utterly awful, she will probably start to lay tracks to get her life moving forward into a more positive financial situation.

    Everyone needs to have some kind of light bulb moment to stop spending and start saving, unless they are already wired that way.

    For us, spending was a habit that was hard to break but once broken, it’s amazing to see life in a different and more exciting way. Spending less has actually meant we have been able to do more; spend time with each other, the children and really think about what we want in life.

    There are a few things we do to save money now. My salary pays all the bills, food and normal household expenses – we’ve got all that budgeted. For any additional income we make in the month, we transfer a percentage of it over to a high interest account, saving both for taxes and an emergency fund.

    On top of that, each time on of us spends money; we transfer the odds pounds and pennies over to our saving accounts and it’s amazing how quickly the fund tots up.

    Any loose change we have gets divided between our piggy bank and one each for the children for an odd treat (like a chocolate bar) or to pick up another loaf of bread (instead of breaking into a note or paying on card). When the piggy banks are full, we count it out and bank it.

  2. I really had a hard time when it comes to budgeting and saving. Honestly, it’s too hard for me to save every month and this one is really perfect and a great motivation for me to start saving.

  3. Money is tight here as you know but we have had for a number of years a set up with the bank accounts where a certain amount is automatically rolled over to a savings account from the chequing account. The savings account is our emergency fund and $20.00 rolls over every week. We try to keep it above $1000.00 but it doesn’t always happen. I drive a late model pick up truck, (1998 and paid for..) and when it needs something done like a sudden brake job the money is there to pay for it. Not so much now, but in the past hubby has had a very loose definition of ’emergency’ so this savings account is in my name. The account started as a bequest from my Mom and a chunk was used to pay for the truck. We set up the transfer then so I would be paid back for the money hubby thought of as a loan. We just kept rolling the money over when his health went downhill so we now have a little something to fall back on.
    Sometimes you just have to do something like this in order to save anything. If you never see the money hit the account you use to pay bills you don’t miss it. The automatic roll over can work very well that way. You have to do what you have to so you can save something, even if it’s just a little bit regularly. It adds up. You can never be sure about life as it can, does and will throw you a curveball when you least expect it. Don’t think it can’t/won’t happen to you because it sure can and it will happen.

  4. I’ve found I can save upwards of $50-$100 per month by doing three things. First, every time I pay for something with cash I take the coin and put it away. I also take the $5 bills and put them away. Secondly, I have a debit card that rounds my money up to the nearest dollar and puts it into a savings account. Third, I only pay for something with cash with a $20 bill. The reason being, for me, it’s amazing how often I won’t buy something because I don’t want to break a 20. If I were to include the things I didn’t buy because they didn’t justify breaking a $20 I’m sure I’m actually saving about $200 a month.

  5. At the start of each month, I always make a list of the expenses I know I will have that month. This gives me a realistic picture of how much spending money I actually have, and I always try to save a least half of that. This includes gifts, dinners out, entertainment, etc., and by budgeting for expenses, I’m not caught off guard very often.

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