Saving Money, Tips and Tricks.

[CountryGent]

I am mostly looking for examples of what other's have done or are doing to save money.

Fair enough:

• If you aren't already doing so, track everything financial on good software. I've used Quicken for decades and have found it invaluable. There are other tools out there; pick the one that works for you and make sure the data entered/downloaded is accurate. The "where is it going" will no longer will be a mystery.
• Make a budget and stick to it. No ifs, ands, or buts.
• Don't buy stupid crap. If you don't need it and/or it will not substantially enhance your life, it is likely a waste of time and money.
• A deal is only a deal if it is something you are actually going to use. If it isn't, you just wasted time, money, and storage space. Currency and storage space for most of us comes at a high price. None of us can get wasted time back.
• Don't just count the cost of something in dollars, but also time, hassle, storage space, and potential future returns. Over the past 30 years, the average return on stocks was 10.4% and bonds 6.8%; do you want something collecting dust or generating returns?
• Stay out of debt. Staying completely out isn't easy, but with the right priorities, hard work, careful saving, and wise investing, I know for a fact it is doable.
• Unless there is absolutely, positively, no other way, never, ever carry credit card debt. The interest rates are insane and it is like throwing money directly down the toilet. (Granted, there are times where there is little or no other option.)
• Embrace the routine purge. Turn unused crap into money. If it isn't of sufficient value to burn the time moving it, give it away so someone else can use it.
• Jettison any toxins. Alcohol, tobacco, and drugs are expense, both financially, and the cost to your health.
• Make restaurants, at most, a sometimes thing, not a regular habit.
• With retirement vehicles, get in early, and put in as much as you can, even to the point where it hurts. One of the few things the young version of me did right was getting into IRAs and company sponsored retirement programs (then rolling those over into IRAs on exit) shortly after joining the labor force. Time plus good, balanced investments really pays off.
• Work well with your spouse or partner when it comes to finances; planning, coordination, and record keeping, etc. If you have a family, this is a team sport, and everyone's got to be working towards the same goal.
• Do something to help others. Charities, religious organizations, food pantries, et al. are great ways to do so. It may seem counterintuitive, but I've found this to be an important factor.
• Have your mind and soul (however you define that) in the right place. A fellow far wiser than I'll ever be said where your treasure is there will your heart be also. I've found that true, both good and bad. Put another way, if your focus and priorities are in the right place, the finances will follow pretty easily; if not, not.

Best of wishes.

 

[MTpockets]

? "(hint...don't do this if you are suffering any sads)"

Not directed at "you" specifically. Any persons reading the post, who may be suffering from depression and/or anxiety issues, may have difficulty dealing with seeing the actual cost of living.

 

[Koda]

Dont buy anything on credit you dont have the cash on hand to immediately pay off. Never let your credit balance carry over to the next month.

 

[HiFi Magnetics]

On the larger Items I bought, those are probably a few of my gain back to my pocket. 6 years ago I started changing my stereo power amps and updating my old reel decks. I was buying almost every other week while this still went on for almost 2 years. One of my buddies said, "Take t easy man it's like X'mas in your house." Sure enough after a while when Trump left the office the price of high fidelity went up almost 150-250+%. I see people today using credit cards just to reach up. That is something can't do or possibly can't even afford today. I bought a similar amp below while mine s fully custom made to the specs I want. I spent $6,700 plus $300 shipping all the way from Canada. 'm glad I pushed it all the way back then for there is no way I can afford to buy any of these today.

BAT VK-80t Tube Amplifier

BAT VK-80t Tube Power Amplifier — balanced, zero-feedback design with powerful tube drive and outstanding musicality. Shop premium used BAT amplifiers at The Music Room.

tmraudio.com

 

[Knobgoblin]

Change to lower quality hookers and blow.

Or , become the hooker yourself.

 

[arakboss]

Or , become the hooker yourself.

$20 is $20

 

[Local Loader]

Writing a budget is a great way to start, simply list all of your monthly bill first, than your consumables(food, gas, TP, hygiene etc.), than dedicate an amount to be placed in savings every paycheck(amount based on available funds left) between $50 and $100 is a good start. Than whatever you have leftover you take half as cash and that is your discretionary funds to use as you wish and don't touch the rest. If you owe on CC's than list payments $50-$100 over the min payment to pay it down faster. Eating out comes out of your discretionary funds. Want to buy a new "toy"? save up using your discretionary funds. Big thing to remember, YOUR DISCRETIONARY FUNDS ARE NOT A GOVERNMENT BUDGET!, you don't lose it just because you don't spend it. It can carryover and you can even take some of it and put it in savings if you chose to.
Only use CC's as a means to pay bills, groceries and other household/personal items/fuel only(consumables and toiletries) nothing more as these are your everyday needs that are budgeted for already. Make sure that the CC that is used has a cashback feature, so that you get some of that money back at the end of the month or year.
After you've done this, you can see what things you may or may not need and you can add, remove or adjust expenses to increase your available funds.
Reevaluate your budget about every 6 months for better accuracy of available funds and to account for any cost or income changes.

 

[crstrode]

What have you guys done or are you doing in your lives to save money?

Don't spend it.

 

[crstrode]

Only use CC's as a means to pay bills, groceries and other household/personal items/fuel only(consumables and toiletries) nothing more as these are your everyday needs that are budgeted for already.

I use credit cards whenever possible. All of mine have zero fees and all pay dividends. I have not paid a cent of credit card interest.

 

[Nosferatu]

Ok, now you've crossed the line... this is the worst advise I've ever heard.

Quality hookers and blow are imperative to a long happy life and therefore should not be skipped on. Find other places to cut back, but not here.

If you stick with your favorite suppliers of each of the aforementioned, there are often frequent flyer discounts.

One must consider the one partaking. We're not talking Les Baer levels here. More like used Rock Island missing a magazine and a stuck grip safety.

Or , become the hooker yourself.

See above.

 

[Local Loader]

I use credit cards whenever possible. All of mine have zero fees and all pay dividends. I have not paid a cent of credit card interest.

That is the overall goal of the budget and yes those are the preferred cards to use.

 

[CountryGent]

I use credit cards whenever possible. All of mine have zero fees and all pay dividends. I have not paid a cent of credit card interest.

We've done that for awhile; it pays cash back and it is paid off every pay day of the two adults. No credit card interest, a percentage paid back, and some protections of a card are all nice.

 

[arakboss]

Credit cards are too big of a temptation for me (carrying a balance). I have a new debit card which my wife transfers my allowance to, each payday. I am getting $250 each payday (every two weeks). This amount has to cover all my food, fuel and fun plus. The allowance may get reduced if necessary to have debt paid off by March.

I should be rolling in $$$ after March. No more child support, no more debt payments and my fed tax withholding be be changed back to normal.

 

[gmerkt]

Don't buy stuff on the internet. The internet is a huge enabler of reckless spending. Yes, the internet makes it easy to find things and saves time. Which contributes to making it easy to spend money. The faster you find things, the sooner you spend.

Remember the days of, "Allow 6-8 weeks for delivery." Internet spending is near-instant gratification. Your order goes in instantly and fulfillment / delivery are rapid. Which makes their purchase more tempting.

 

[Local Loader]

Credit cards are too big of a temptation for me (carrying a balance). I have a new debit card which my wife transfers my allowance to, each payday. I am getting $250 each payday (every two weeks). This amount has to cover all my food, fuel and fun plus. The allowance may get reduced if necessary to have debt paid off by March.

I should be rolling in $$$ after March. No more child support, no more debt payments and my fed tax withholding be be changed back to normal.

If that's a concern than you can still have it but don't carry it on you, only use it for online bill payments and pay it off at the end of each week. set reminders if needed.

 

[Kruel J]

I use credit cards whenever possible. All of mine have zero fees and all pay dividends. I have not paid a cent of credit card interest.

I just bought new tires for my truck to the tune of $2100. I used my CC to make the purchase and then paid it off before I even left the parking lot. This is good advice for those with the discipline. You get all the perks the CC has to offer without them making a cent.

 

[Kruel J]

Discipline is a good word here. If you don't have it, no amount of posting on the internet will change anything.

 

[CountryGent]

Credit cards are too big of a temptation for me (carrying a balance).

Self-discipline is like a muscle; the more you work it, the stronger it becomes. If neglected it will atrophy. Choose which one you wish to have.

Discipline is a good word here. If you don't have it, no amount of posting on the internet will change anything.

Well said.

 

[Catfishmoon]

I am mostly looking for examples of what other's have done or are doing to save money.

I prefer the sense of stability and lack of stress that comes with having money in the bank, so I adjusted my financial priorities many years ago...
Firearms related savings:
I am more of a shooter than a collector of firearms. Recently was tempted to buy a Colt 1911, but I have two quality 1911's already.
I buy reloading components in bulk and on sale. Just purchased several thousand more (all they had) 9mm 115 projectiles for 4.5 cents each. Not my preferred projectile, but at that low price I will adjust and stockpile bullets even deeper.
I pay a yearly fee for unlimited visits to the local gun range, cheaper than paying a per-visit fee.
I look for "value" when purchasing. I do not buy the cheapest or most expensive item, I look for quality at a reasonable cost. If I was car shopping, Toyota would come to mind.

I prioritize that when it comes to guns, what I really want to do is shoot them and preferably shoot them a lot.
Nothing wrong with .22 rifles or handguns. If I was more on a budget, that would be my caliber of choice.

 

[nammac]

Or , become the hooker yourself.

That's not going to solve the cash flow issues and savings