Missteps With Saving Money

What are some of the missteps we make when trying to save money?

Using coupons or coupon codes for things we don’t need, really don’t want or things we already have plenty of at home. Coupons and coupon codes are marketing. There is nothing wrong with marketing. Always make your shopping list out first and then go looking for only coupons or coupon codes that apply to what you need. And pull what you “save” out of checking as if you actually spent it. Where do you send the amount saved? Savings, of course. Do this again and again and you are likely to become wealthy over time.

Your cell phone can be leaking money. Many people don’t track their plans. They don’t ask questions about billing. They don’t “bid” their cell phone with various companies when it comes up for “renewal.” How much can you save by reducing your minutes, avoiding extra texting and eliminating web usage? More than you think. Take a look at how much you use your cell phone (we are all big fans of cell phones, but when you look at what you spend and what you can save, you might find a better plan for your family that saves you real money).

Do you pay an annual fee on your credit card? Yes, you can call and have it removed. I call this step one. Step two is: If they don’t remove it, YOU move to another credit card. Of course, you should see our overall thoughts on credit cards in previous blog entries or at http://www.MiddleClassMoney.com. I can tell you we believe in attacking them strongly and paying more than the minimum each month until you reduce and then eliminate the credit card debt. Credit card companies are the enemy of your family. Treat them as such. Get them out of your life. But don’t pay a yearly “fee” while you wait for their exit.

Some people are embarrassed to negotiate. Because of this they lose thousands (and maybe more) dollars every year. Count that up over time – say 10 or 20 years – and you are talking about a very significant amount of money. Maybe it is enough to pay off your car or release you from credit card companies. Do you want to know who negotiates and works to negotiate on every purchase they make? Rich people. Where do you want to be in ten years?

Why do people wait to develop a plan to get out of debt and build wealth? Fear is a big factor. Think about it. What if you can’t do it? What if you can’t get ahead? You’ll be in the same situation you are in today. However, we know many people who applied basic money saving principles to an overall plan and got out of debt. You can do it, too. However, it is only action that can overcome this. You can start today and actually prove to yourself that you can lift your family out of debt and into wealth, but you have to get moving.


If you think I was born saving money, you are wrong. My own family didn’t believe in saving. They don’t believe in having a 401k. Our people have had “emergencies” all our lives. These emergencies always get in the way of saving money regularly, and our family is not different than millions of other good American families. I was not brought up to save and invest regularly and I have made every mistake you can think about when it comes to money. My parents thought they were shielding me from the realities of bills and worry. In fact, they were isolating me. I have had to learn from my own mistakes over time. I have had to learn the absolute hard way how to get savings on track and make it a part of your life without killing your lifestyle or allowing “it” to overwhelm you. It is my mission to share what I have learned about regularly saving with my own children and also share it with you. That’s why we have a lot of “free” (blogs like http://www.boostmywealth.wordpress.com and http://www.stickyasset.com/blog and groups on Facebook like “Coupons & Coupon Codes”) associated with our mission!

It is our goal to encourage everyone to teach our children about money, managing money, and saving regularly (and automatically. Children should receive lessons about compound interest and steady investing for a long-term future before they face the hard choices of adult life while being subjected to the consequences of the high-speed marketing culture we live in. As a parent, we are always concerned that they get a good education and go to a good college so they can make a lot of money or have a valued career path. The truth is that we could do our children the biggest favor by simply sharing with them sound saving and investing principles.

You can join our free Facebook group (or have your children do it, too) by searching in the Facebook bar on your “wall” for “Live The Lifestyle Your Family Deserves.” Click on “become a fan.” It’s free and it ties our free blogs into that group. You can get our free e-saver newsletter by signing up at http://www.StickyAsset.com/blog.

If you want to give your children the same information we are giving ours, you can purchase the only thing we sell on any of our blogs or groups. It’s called “How To Survive Any Financial Crisis” and you can get it for only $4.95 at http://www.middleclassmoney.com.

Good luck to you and your children.

Thank you for reading our blog and good luck!

Loyd Ford

Connect with us on Facebook with these free groups:
“Coupons & Coupon Codes”
“Live The Lifestyle Your Family Deserves”
All on Facebook – join. It’s free.


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