This Got Me Thinking: How Do You Save?

Everyday, I get the Kansas City Star's Midday Business Report in my email box. Today, there was a story that caught my eye (Readers offer ideas for saving).
With great interest I read the article. Some ideas were new, most however have been discussed in various posts on this blog.

For example:

Thomas A. Haunty, a certified financial planner in Madison, Wis., advises avoiding big house and car payments.

“I have found that two major causes of lower savings rates are too large of a house and too-big auto payments,” he said.

In particularly, buying a smaller house than the bank or mortgage company says you can afford “ripples through your finances so that you have much more cash flow,” Haunty said.

“Smaller houses have smaller repair costs, smaller remodeling costs, smaller property taxes, less space to furnish, etc., etc.,” he said (among the etceteras, utility and insurance bills immediately come to mind).

I have advocated the last 2-years to buy smaller homes and cars and then move up as you need to. Of course, this guy still advocates getting a loan, whereas I recommend saving for these expenses. In fact, Haunty, even makes that recomendation, for cars latter on in the article.

As for cars, they are depreciating items that lose rather than gain value over time, Haunty said. “If we can buy used, we can save a lot of money up front and even begin to save enough to buy our cars for cash each time. Imagine a lifetime of interest saved by paying cash versus borrowing for cars?”

Almost sounds like Dave Ramsey doesn't it?

My favorite suggestion in the story, which actually was the only other suggestion was one that came from a banker in Schaumburg, IL

“My client had saved a tidy sum, and when I asked how, she told me the story,” Harcourt said.

By regularly depositing in her savings account the money saved with coupons and discounts, and having the interest compound for more than 10 years, her balance had grown to $30,000-plus.

“I decided to give it a try and found to my surprise that it does work,” Harcourt said of this savings strategy. “In three months, I have saved more than $300.”

Saving this way “is not an easy habit to get into since, we are so used to spending,” Harcourt said. “But once the habit is mastered, it is very easy to save and is fun. I am very thankful my client was so kind to share this savings tip.”

Now that's an idea. I love that idea, I just need to get myself to clip and use more coupons. I think I actually have heard of it before, but not sure.

So this got me thinking, what if I asked you, my readers for your suggestions. So how about it? How do you save? I would love to hear those thoughts and ideas. Do you have any ways to save additional money?