I know, but, see, we have learned! When I think back at the money wasted, just to have a shiny new car, it kills me. Oh well, live and learn.
Saving Money
#16
Posted 25 October 2007 - 08:58 AM
I know, but, see, we have learned! When I think back at the money wasted, just to have a shiny new car, it kills me. Oh well, live and learn.
#17
Posted 25 October 2007 - 09:02 AM
#18
Posted 25 October 2007 - 09:15 AM
#19
Posted 25 October 2007 - 09:16 AM
I highly recommend checking out ING Direct - they pay the best interest rates on savings.
Way too conservative..... Savings rates (2-3%) are historically some of the lowest rates on your return. With the rate of inflation these days your almost loosing money at those rates....Your better off putting that money into a CD (5-6%), or mutual fund. I never keep more than 5-10K in savings just for a rainy day.
#20
Posted 25 October 2007 - 09:22 AM
I disagree, sort of. Life's too short to drive something dumpy and unreliable. I just bought a new car (not something used with all the unknowns) and couldn't be happier. There's a price I'll pay for quality, peace of mind, reliability to take road trips, and all the newer state-of-the-art bells and whistles. Hey, to each his own.
#21
Posted 25 October 2007 - 09:26 AM
I'm getting 4% (plus) on my savings at ING Direct
and unlike a CD or mutual fund, I can access it if and when I need to.
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#22
Posted 25 October 2007 - 09:27 AM
well no wonder you can't afford to go out for good sushi (just kiddin' dude)
(off subject) what'd you get?
Travel, food and drink blog by Dave - http://davestravels.tv
#23
Posted 25 October 2007 - 10:08 AM
Trust me, I would love a new car with all the bells and whistles, but for now, this is how we save our money. We are the original owners of the two cars we have, so we know the reliability. Both of our cars are only five- and six-years-old, so it's not likely they are going to need anything major but routine maintenance for a while (hopefully!). Besides, I drive a Honda...it will probably outlive me!
#25
Posted 25 October 2007 - 11:01 AM
#26
Posted 25 October 2007 - 11:02 AM
#27
Posted 25 October 2007 - 11:21 AM
Once everything is planned out, it's just a simple matter of sticking to the plan. Numbers don't lie so there's no surprises.
Another great thing to use if you can is a dependent care account - between my wife and I, we put 8k per year into our accounts, and pretend that it's not there, which is easy to do since it comes directly out of the paycheck. Every now and then we submit a reimbursement form, and voila, it's like free money.
#28
Posted 25 October 2007 - 11:32 AM
In addition to driving cars until we have to get rid of them, my husband does most of the work on them. I can't even begin to add up the money we've saved over the years living with what we have and taking care of repairs ourselves.
We do most projects around our house ourselves. My husband and I are currently putting in a new front yard (no lawn -- just native, drought-resistant plants). He built the raised garden area and is getting ready to pour concrete for a small patio/sitting area, too. For a finance guy, he's very handy and has breathed new life into our washer and dryer on more than one occasion. I paint and wallpaper.
I save money by cooking, mostly from scratch. I will buy canned tomatoes or beans, but I don't ever buy frozen or canned meals. I do most of my shopping at WinCo (where I'm guessing groceries cost about 40% less than other stores, and for the same brand names) and Costco, but there are gourmet items and certain produce items that I buy at Raley's or specialty stores. I buy most of my spices in bulk at Indian markets; a typical bag of a spice might yield 4 - 5 times or more what you'd get in a brand name bottle for less than what you'd pay for that same bottle. I don't buy much that you would call junk. We'll sometimes get tortilla chips, but other than that I just don't buy snacky (junk) things, cookies or soda (unless we're having company and I think that's what they drink). My husband and are very light drinkers, so I'm sure we spend significantly less on alcohol than many others.
I don't color my hair, get my nails done, or shop for designer labels. In fact, I really don't do much shopping for myself at all unless I really need something.
We've taken some great vacations, including two three-week cross-country driving trips. We typically do not splurge on hotels; I don't need fancy where I sleep. We've taken camping vacations, which are very inexpensive.
My husband does our pool chemistry, I put out ant bait when needed instead of contracting for someone to spray chemicals everywhere, and we take care of our own yards/lawns.
I save on gas by lumping my errands together and driving in a gas-saving way. Cracks me up when I see people gunning it to race to a red light or stop sign!
I guess the point I'm trying to make is that while it's good to pay attention to how you invest money and plan for savings, there are many things that can be done on a daily basis to be able to put more of your money toward that end.
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#29
Posted 25 October 2007 - 11:34 AM
Then you can walk around saying you have no debts, just a mortgage payment.
My recommendation is that you ask people who have no debts and are millionaires. Read the Millionaire Next Door to get some sage advice.
#30
Posted 25 October 2007 - 11:46 AM
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