All The Simple Dollar

Living in an urban area like New York or San Francisco can ratchet up your expenses. Hamm offers five ways to manage your money while enjoying big-city life.

If you have issues with overspending, writing down every transaction can make you more mindful – and more critical – of your habits.

If you have children, the “hand me down” chain can result in tons of free clothes and toys for your children. And the benefits go far deeper than saving money. 

Buying in bulk can save you tons of money, but 36-packs of toilet paper and bulk packs of trash bags can quickly clutter up your home. How do you save money and space? Hamm walks readers through organizing their purchases.

Many people think that investing money will bring more income back to their household than being frugal. Hamm says that, with most Americans living paycheck to paycheck, it's worth considering the opposite: a focus on frugality could bring greater returns to your family.

When you're trying to make a smart financial decision, what your parents or banker advise may contradict everything your friend, the Internet, or a salesperson might have said. How do you tell what's right when you have multiple sources of advice? Hamm offers five tips.

If you are planning to buy your teenager his or her first car, take the opportunity to teach your child a lesson about responsibility by splitting costs. Hamm suggests asking your teenager to foot the gas bill while splitting insurance and maintenance costs.

Being frugal can teach your children important lessons, like how you don't have to buy a litany of brand-name things to enjoy life, form friendships, or eat healthily, Hamm says. 

Electric? Disposable? Cartirdge? Some shaving methods are far cheaper than others, but some work better than others, too. 

Hobbies that continually require you to buy new things tend to be money drains, Hamm writes, unless you find things you can purchase for personal enjoyment and fulfillment that won’t depreciate in value, or at least won’t depreciate very much.

It happens to everyone: savings are going up, debts are disappearing, then suddenly an unforeseen financial event takes you back to square one. It might feel like all that progress has been undone, but actually, the opposite is true.  

Usually, people assume that having more money is better, but that's not always the case, Hamm says. When one or both jobs require a commute, child care is eating up income, or you're eating out more because nobody is home to cook, it might be worth considering having one parent stay home.

Children often ask their parents to buy something and so they can donate the proceedings to their school band, soccer club, or Girl Scout troop — but parents don't always want to accumulate boxes of thin mints. Hamm offers ways parents can give to a cause without having to buy unwanted things or let their child down.

A yard sale can be a good way to throw out old things while making money, but if you don't update what you're offering, you'll run into the problem of diminishing returns. Keep sprucing up your inventory and adding new things to your sale to make sure you maximize your profits.

It doesn’t matter what stuff your best friend has; the only thing that matters is whether or not you get personal fulfillment out of the elements of your life, Hamm says.

Grocery store shopping can rack up quite the bill, especially if you are feeding a big family. Hamm offers seven ways you can cut your expenses, both when you're pushing the cart between aisles and when you're in your kitchen at home.

When it comes to cars, used vehicles are much kinder to your wallet. Make sure you get a vehicle history report and a mechanic's thumbs up before purchasing the car, and you should be on your way to saving thousands of dollars, Hamm says.

Comparing the way you spend money to a prisoner's dilemma can help you save money, Hamm says. 

Creating your first budget? Hamm recommends making high estimates of your costs, prioritizing expenses, and striving to come in under your budget to save money.

Many consumers are stuck constantly taking out payday loans. Hamm suggests borrowing less, swallowing pride and putting aside cash for emergencies to break the cycle.