There are lots of tips on ways to save money – and there are some great tips out there.  What about terrible ideas to save money?  Let’s take a look at the 5 worst ways to save money:

1. Sell all your pants, and go pants free.  This tip will certainly get you funny looks from your neighbors, and will probably get you fired from your job.  There’s a good chance you’ll also get arrested for indecent exposure.  The money you’ll make from selling your pants, and the money you’ll save on not replacing them, or washing pants, will quickly be eaten up by lost income and legal fees.
2. Sell your children on eBay.  As far as I know, it’s quite illegal to sell humans on eBay.  So you can’t cut your grocery bills by reducing the number of mouths to feed.  And before you ask, Craigslist is off limits as well.  Sorry.
3. Steal gas for your car.  Gas is creeping up in price again, and it’s not as cheap to fill up as it used to be.  Don’t tell me that you haven’t been tempted to fill up and then floor it – racing away.  Unfortunately, the attendant is sure to write down your tag number and call the cops.  Once again, fines and legal fees will negate any savings here.
4. Eat other people’s food at restaurants.  By this, I don’t mean share food with your spouse / meal companion.  Rather, I mean walk through a restaurant, casually snagging a breadstick from one table, a bite of steak from another, and a shrimp from another.  Ignoring potential legal troubles, and being thrown out of your favorite restaurants, this strategy is likely to leave you with a bloody nose, and the hand of an angry patron.
5. Stop showering.  No more daily showers – think of the money you’ll save on water, and heating all that water!  This one has to be a winner, right?  Well, no.  Your kids will avoid you, your wife will leave you, and your boss isn’t likely to keep you around for long.  Unless you work at a fish market for a living.  In that case, skip the showers all you want!

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Stock up now, before the rush

Yes, this part involves spending money, rather than saving it.  Tomorrow, right after work, it’s time to go grocery shopping.  These are the sorts of things you need to be buying:

• Water ( bottled, gallons, whatever you prefer )
• Enough food to stuff your freezer
• Anti-diarrhea medication
• Particulate masks ( may have to visit the hardware store to get these )’
• Flashlights
• Plenty of batteries

Why in the world would you need these things for a simple flu?  Well, if things get very bad, these simple items might not be available in any sort of reasonable quantity.  If everyone is getting sick, you’ll probably be wanting to lock yourself up at home – so you’ll need plenty of food and water around.  And for those times when you *must* go out, a particulate mask might just be enough to keep you from being infected.  If by chance you do get sick, staying hydrated is very, very important.

What in the world does any of this have to do with personal finance?

It’s always important to be prepared for the unexpected.  If you take a few simple steps to prepare yourself for a potential disease outbreak, you needn’t worry about trying to obtain these things later, possibly at a much higher cost.  Think about it – if the grocery store shelves are empty, and you’re forced to buy food from the guy selling cans of beans out of his trunk on the corner, do you think he’s going to give you a good deal?

All of the things I’m recommending that you purchase are useful things to have around for a variety of emergencies.  I’m not saying that you need to go drop 3 grand on supplies, but it’s prudent to have some things on hand, “just in case”.

Disclaimer:  I don’t expect swine flu to amount to much.  So far it hasn’t ended the world, and I don’t think it will.  But there’s no harm in stocking up, just a little, is there?

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Never loan money to family

Never.  Not a single time.  If a relative is in a tough spot and asks for some cash, don’t lend him or her a dime.  Provided that your financial situation allows you to do so, give them the money instead.  If you want, you can call it a loan.   That way there’s a chance that you might see the money again.  But deep down, treat it like a gift, and don’t ever expect to see a dime back.  Chances are, you will only end up disappointed if you treat it like a loan.

Forget all that ‘put it in writing’ nonsense

Have you ever tried to sit down and write out a loan contract with your brother?  Not going to happen.  You’re not a lawyer, and he’s not going to appreciate how this goes.  Not only is he in a tough spot by having to ask you for cash, now you’re making him sign a contract.  Don’t bother – a loan to family is doomed to fail.  Too much stress, pressure, awkwardness, and annoyance.

If you can’t afford to give them a gift, just say no

No loans, only gifts with family.  If your situation doesn’t allow room for a financial gift ( even a small one ), just say so.  You know your finances better than anyone else in the world, so you know what you can and can’t afford.  Don’t be guilted into giving money when you really can’t afford it.

Remember, it’s family

At the end of the day, taking care of your family is important.  If kid are going to go hungry if you don’t help out, then you probably need to find a way to help.  Yes, giving money to family is expensive, and yes, it can be annoying.  But you only have one family, so sometimes you have to do the right thing, even if it’s not the right money thing.

Hi there - could you help spread the word about Llama Money? This is a new site, and I could really use your help in getting my work out to new readers. If you would send someone a link, email, or even mention it to your friends, I would appreciate it. Lending to Family or Friends is a post from: Llama Money