Share Your Money-Saving "Secrets" Here
Share Your Money-Saving "Secrets" Here
It occurred to me that Bogleheads have probably accumulated a wealth of money-saving tips related to everyday living. Let's harness that and share our collective wisdom. Maybe we'll learn something new. Okay, I'll start.
Does everyone know that milk is a heck of a lot cheaper at drugstores than at supermarkets? We go through a lot of milk in my house and I discovered (sadly, only about 6 months or so ago) that drugstores are the way to go here. Where I am a gallon of milk runs about $5 at the supermarket, but $3.60 at the drugstore. (Yes, I know it's even cheaper at wholesale outlet clubs but that's going a bit out of the way for just milk.)
Here's another one: Don't forget to play competitors off of each other to get the best deal. Cablevision called this week with an offer of $20 off my bill if I dumped Verizon. And they'd throw in an Ipod Touch as well and guarantee the rate for two years. I called Verizon, asked for Retention and told them the details of the offer. They took $30 off my bill, guaranteed it for two years, and threw in a $300 Visa gift card.
That's all I have for now. Who's next?
Does everyone know that milk is a heck of a lot cheaper at drugstores than at supermarkets? We go through a lot of milk in my house and I discovered (sadly, only about 6 months or so ago) that drugstores are the way to go here. Where I am a gallon of milk runs about $5 at the supermarket, but $3.60 at the drugstore. (Yes, I know it's even cheaper at wholesale outlet clubs but that's going a bit out of the way for just milk.)
Here's another one: Don't forget to play competitors off of each other to get the best deal. Cablevision called this week with an offer of $20 off my bill if I dumped Verizon. And they'd throw in an Ipod Touch as well and guarantee the rate for two years. I called Verizon, asked for Retention and told them the details of the offer. They took $30 off my bill, guaranteed it for two years, and threw in a $300 Visa gift card.
That's all I have for now. Who's next?
Re: Share Your Money-Saving "Secrets" Here
Have one's company pay for all vacation travel by tacking on vacation when going on overseas or domestic trips. That's free airfare to Paris, London, Melbourne, Beijing, Lima, Capetown, etc.
Re: Share Your Money-Saving "Secrets" Here
It's pretty easy not to spend money.
Re: Share Your Money-Saving "Secrets" Here
Years ago, my dad bought my sister a subscription to, "The Tightwad Gazette," a publicaion on money-saving tips. It was kind of a joke since my sister had recently started her own business and was living on practically nothing to get it off of the ground. The subscription cost $12 and the founder/editor promised that one would save the cost of the subscription fairly quicky by using the tips.
After my sister read it, she would mail it to another sister, who would mail it to another sister, who would mail it to my mom, who would mail it to me. So, the whole family benefited from this $12 subscription. I ended up with all of the copies of the publication. The editor/founder stopped publishing after saving enough money for her and her husband to buy and refurbish their dream house, fund six kids college education, and retire early.
The reason I say this is because although my sisters and I were all brought up to think like "depression babies," not every one has this upbringing. All of the "Tightwas Gazette" issues have been condensed into two paper-back books. These books will help give, at least, the perspective of frugal decision-making, something that I feel has not been transferred down through the generations.
After my sister read it, she would mail it to another sister, who would mail it to another sister, who would mail it to my mom, who would mail it to me. So, the whole family benefited from this $12 subscription. I ended up with all of the copies of the publication. The editor/founder stopped publishing after saving enough money for her and her husband to buy and refurbish their dream house, fund six kids college education, and retire early.
The reason I say this is because although my sisters and I were all brought up to think like "depression babies," not every one has this upbringing. All of the "Tightwas Gazette" issues have been condensed into two paper-back books. These books will help give, at least, the perspective of frugal decision-making, something that I feel has not been transferred down through the generations.
Re: Share Your Money-Saving "Secrets" Here
Bring lunch from home. Saves 6-8 bucks a day.
"It is difficult to get a man to understand something, when his salary depends upon his not understanding it!" - Upton Sinclair
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Re: Share Your Money-Saving "Secrets" Here
Ride my bicycle to work.
Re: Share Your Money-Saving "Secrets" Here
A few more with thanks to several self-help books by Ron Blue, Farmer Ben's Almanac and Dave Ramsey..
My #1 money saving tactic is to save and invest in things that pay you back and to let that interest compound. Let the dollars you save compound in your favor instead of someone else's...
My all time #1 is R38 insulation in your attic. Typical cost $600-$1000, but pays back in less than the typical 7 year horizon of the average homeowner and can be a dramatic savings that pays back sooner. Shaved $50 off my winter bills and $150/mo off the air conditioning in Atlanta heat.
Eliminate the beer fridge. Typical electrical cost savings (on my bill at least) was $40 a month when I downsized to a small "bar fridge" size I could fit inside a climate controlled room.
Replace ALL incandescent bulbs with compact fluorescents. Look on the bottom shelves of Lowe's or Home Depot for the bulk "contractor packs" of these things and don't buy the $5 a piece brand name versions.
And of course, turn off the lights! Mythbusters did a great analysis of whether turning off the lights was worse in the long run in bulb replacement costs and reality is it's cheaper in the long run to turn out the lights, especially with CFCs.
Don't bundle your services but DO change the internet provider every year to shop down the monthly charges. Dropped my total cable/internet from $90 retail price to $45 for both this way by having At&t DSL (2 year deal) and Comcast (will go up $10 in 2nd year) separately. And be sure to have Comcast drop the "free HBO or whatever for 6 months" premium channel when you sign up so they don't stick it to you for $10 more after 6 months.
Netflix mail order movies instead of going out for recent releases. The Netflix online downloads aren't that great, but do have some wonderful older series and some good new stuff from time to time as well from some of the studios.
Eliminate direct debits from your checking accounts. Paypal, Amazon, iTunes, newspapers and ANYTHING that reaches into your wallet every month is a financial parasite. Buy these things a la carte when you really need them even if a little pricier/harder to buy from a store instead. Vaccinate your finances!
And last but not least... Agree to a cash budget you (and your spouse) can live with. This is tough initially but my wife and I've found that the psychology of spending changes when you have to put down bills on the table for EVERYTHING besides the monthly utility/mortgage bills and to pay at the pump for gas for convenience. When you have money left over from your cash budget that you truly pay to yourself and that generates compounding interest over time, you WIN!
My #1 money saving tactic is to save and invest in things that pay you back and to let that interest compound. Let the dollars you save compound in your favor instead of someone else's...
My all time #1 is R38 insulation in your attic. Typical cost $600-$1000, but pays back in less than the typical 7 year horizon of the average homeowner and can be a dramatic savings that pays back sooner. Shaved $50 off my winter bills and $150/mo off the air conditioning in Atlanta heat.
Eliminate the beer fridge. Typical electrical cost savings (on my bill at least) was $40 a month when I downsized to a small "bar fridge" size I could fit inside a climate controlled room.
Replace ALL incandescent bulbs with compact fluorescents. Look on the bottom shelves of Lowe's or Home Depot for the bulk "contractor packs" of these things and don't buy the $5 a piece brand name versions.
And of course, turn off the lights! Mythbusters did a great analysis of whether turning off the lights was worse in the long run in bulb replacement costs and reality is it's cheaper in the long run to turn out the lights, especially with CFCs.
Don't bundle your services but DO change the internet provider every year to shop down the monthly charges. Dropped my total cable/internet from $90 retail price to $45 for both this way by having At&t DSL (2 year deal) and Comcast (will go up $10 in 2nd year) separately. And be sure to have Comcast drop the "free HBO or whatever for 6 months" premium channel when you sign up so they don't stick it to you for $10 more after 6 months.
Netflix mail order movies instead of going out for recent releases. The Netflix online downloads aren't that great, but do have some wonderful older series and some good new stuff from time to time as well from some of the studios.
Eliminate direct debits from your checking accounts. Paypal, Amazon, iTunes, newspapers and ANYTHING that reaches into your wallet every month is a financial parasite. Buy these things a la carte when you really need them even if a little pricier/harder to buy from a store instead. Vaccinate your finances!
And last but not least... Agree to a cash budget you (and your spouse) can live with. This is tough initially but my wife and I've found that the psychology of spending changes when you have to put down bills on the table for EVERYTHING besides the monthly utility/mortgage bills and to pay at the pump for gas for convenience. When you have money left over from your cash budget that you truly pay to yourself and that generates compounding interest over time, you WIN!
Re: Share Your Money-Saving "Secrets" Here
Don't be penny wise and pound foolish. In other words, focusing on the small stuff is not going to give meaningful results. I don't consider saving $200 or $300 a year meaningful.
Instead, use something along the lines of the the 80/20 rule. In other words, focus on the big stuff first. Housing is big stuff for most households. For me that meant moving out of my one bedroom apartment and moving into a two bedroom apartment with a roommate. I saved $400 a month. That was big savings for me.
Instead, use something along the lines of the the 80/20 rule. In other words, focus on the big stuff first. Housing is big stuff for most households. For me that meant moving out of my one bedroom apartment and moving into a two bedroom apartment with a roommate. I saved $400 a month. That was big savings for me.
Ignore the market noise. Keep to your rebalancing schedule whether that is semi-annual, annual or trigger bands.
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Re: Share Your Money-Saving "Secrets" Here
I could have a lot of fun with this thread. But I think I might get a lot of these if I bring up some of the things I have done(mostly done without) in the past. I find it a lot easier to do without things I don't need instead of finding ways to save on them.
Re: Share Your Money-Saving "Secrets" Here
If you have a refinance, check the appraisal value against your current assessed tax valuation, if the recent appraisal is lower, send it to the tax appraiser.
I just called, then emailed mine to them,and they just set the value to what the appraiser had it at for 2012.
I just called, then emailed mine to them,and they just set the value to what the appraiser had it at for 2012.
Re: Share Your Money-Saving "Secrets" Here
Love this quote. I teach at a medical tech school and this quote may resonate with my students.edawg wrote:Vaccinate your finances!
- Mrs.Feeley
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Re: Share Your Money-Saving "Secrets" Here
I keep tabs on home sales in our neighborhood, particularly sale prices of homes similar to ours. If the sale prices are lower than our home's city assessed value--they often are--I print out the homes' sales info from the city assessor's web site, maybe snap some pictures of the homes that are similar to ours, and mail it off to the assessor's office with a letter challenging the high assessment. I do this every few years, and each time have gotten our assessment lowered by anywhere from 15 to 30 percent. Since our community has extraordinarily high property taxes based upon full assessed market values of homes this has saved us quite a lot over the years.LH wrote:If you have a refinance, check the appraisal value against your current assessed tax valuation, if the recent appraisal is lower, send it to the tax appraiser.
I just called, then emailed mine to them,and they just set the value to what the appraiser had it at for 2012.
Re: Share Your Money-Saving "Secrets" Here
I scavenge leftovers in the office instead of bringing a lunch or eating breakfast. There will often be catered meetings and the remnants get left in the kitchen, plus we have fruit one day and bagels another, the occasional reception. Sometimes it means eating an entire tray of pineapple or going hungry for the day, but the savings add up.
- FrugalInvestor
- Posts: 6214
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Re: Share Your Money-Saving "Secrets" Here
Many grocery stores will match others' prices. My wife collects ads with the best pricing on various prices we use and takes them all on a shopping trip to WalMart or wherever. By doing this she saves money, time and gas.
Have a plan, stay the course and simplify. Then ignore the noise!
- muddyglass
- Posts: 133
- Joined: Sat Jan 29, 2011 1:11 am
Re: Share Your Money-Saving "Secrets" Here
cut your own hair. if you have a fancy hair style that's difficult to cut yourself, then drop it and adopt a crew cut or buzz cut instead.
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Re: Share Your Money-Saving "Secrets" Here
After reading about it on another bogglehead posting, I stopped using deodorant and only shower every three days....
Just kidding....
Just kidding....
"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin
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Re: Share Your Money-Saving "Secrets" Here
do your own nails as well...
I almost never buy stuff like bottled water at airports.
I almost never buy stuff like bottled water at airports.
364
Re: Share Your Money-Saving "Secrets" Here
I agree w/ the strategy of tackling big items first.
1. don't buy stuff unless you absolutely have to. live like a college/grad student.
2. if you have to, see if you can get it used. - Just purchased an 800+ dining table from pottery barn for 100. almost new. 2 yr old Hyundai elanantra for 8k.
3. Sell/donate stuff you don't need - take it off your taxes or get at least some of the original value back. Plus its good for the environment! Combined w/ #2, we often make money on the items when we sell it.
4. Rent Cheaply - We rented in a less nice place that has everything we need and saved over 40% compared to the average rent.
5. only get insurance where you need it. I think most ppl overinsure b/c the sales guy scares them. Try to self insure and get a high deductible.
6. I struggle with this, but don't eat out as much. Cook at home.
7. Track your finances for places you are spending money but don't need to. Mint.com is quite useful for this.
8. My recent favorite: when hanging out w/ friends, go for a walk instead of a bar/restaurant! We both need the exercise and the fresh air anyway!
9. eliminate/renegotiate recurring expenses (cable, internet, insurance, etc)
1. don't buy stuff unless you absolutely have to. live like a college/grad student.
2. if you have to, see if you can get it used. - Just purchased an 800+ dining table from pottery barn for 100. almost new. 2 yr old Hyundai elanantra for 8k.
3. Sell/donate stuff you don't need - take it off your taxes or get at least some of the original value back. Plus its good for the environment! Combined w/ #2, we often make money on the items when we sell it.
4. Rent Cheaply - We rented in a less nice place that has everything we need and saved over 40% compared to the average rent.
5. only get insurance where you need it. I think most ppl overinsure b/c the sales guy scares them. Try to self insure and get a high deductible.
6. I struggle with this, but don't eat out as much. Cook at home.
7. Track your finances for places you are spending money but don't need to. Mint.com is quite useful for this.
8. My recent favorite: when hanging out w/ friends, go for a walk instead of a bar/restaurant! We both need the exercise and the fresh air anyway!
9. eliminate/renegotiate recurring expenses (cable, internet, insurance, etc)
Re: Share Your Money-Saving "Secrets" Here
Learn how to work on your house. Simple plumbing jobs to installing flooring etc.
With the internet, this has become extremely easy. There are tons of forums where all of your questions have already been answered and youtube videos showing how to do nearly anything.
I recently built a custom built in bookshelf/cabinet unit myself after getting a quote from a local carpenter. It was $7000 cheaper.
With the internet, this has become extremely easy. There are tons of forums where all of your questions have already been answered and youtube videos showing how to do nearly anything.
I recently built a custom built in bookshelf/cabinet unit myself after getting a quote from a local carpenter. It was $7000 cheaper.
"Index funds have a place in your portfolio, but you'll never beat the index with them." - Words of wisdom from a Fidelity rep
Re: Share Your Money-Saving "Secrets" Here
Don't have kids :lol: ...saves thousands annually.
Take care of your health.
Pay down debt as soon as possible.
Brown bagging lunch saves a few thousand annually.
Make eating out a treat rather than a routine ...could save thousands.
A roof top antenna saves almost a thousand annually.
Wear stuff out and if it makes sense repair it if it breaks.
Do your own maintenance (car and house repairs, lawn and garden) when possible.
Burn wood to supplement home heating, can save lots especially these days if you burn diesel to heat your home.
Take care of your health.
Pay down debt as soon as possible.
Brown bagging lunch saves a few thousand annually.
Make eating out a treat rather than a routine ...could save thousands.
A roof top antenna saves almost a thousand annually.
Wear stuff out and if it makes sense repair it if it breaks.
Do your own maintenance (car and house repairs, lawn and garden) when possible.
Burn wood to supplement home heating, can save lots especially these days if you burn diesel to heat your home.
Re: Share Your Money-Saving "Secrets" Here
Same here. I bring an empty plastic bottle through the TSA checkpoint in my bag, and fill it up for free at a water fountain once inside.travellight wrote:I almost never buy stuff like bottled water at airports.
Bottled water sells for $2 a bottle at many airports...I can buy a case of 24 bottles for ~$4 at the local grocery store.
- nisiprius
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Re: Share Your Money-Saving "Secrets" Here
Pay close attention to how much value per dollar you get in the form of personal enjoyment from your discretionary purchases, and for low long.
It's not the splurges that get you. It's the total burden of dozens of $5.95/month and $39.95/month that you mentally treat as zero.
If you must eat out and don't need fine dining, along with Wendy's and sandwich shops, check out hospital cafeterias as a possible resource.
Big problem with frugality in small things: after you cut down your total expenses by 15% and they rise again by 15%, what do you do for an encore?
It's not the splurges that get you. It's the total burden of dozens of $5.95/month and $39.95/month that you mentally treat as zero.
If you must eat out and don't need fine dining, along with Wendy's and sandwich shops, check out hospital cafeterias as a possible resource.
Big problem with frugality in small things: after you cut down your total expenses by 15% and they rise again by 15%, what do you do for an encore?
Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness; Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.
Re: Share Your Money-Saving "Secrets" Here
Don't travel. Instead watch the National Geographic special on Kenya. You'll see more varieties of wildlife on their special. Your luggage won't get lost. You won't come home with a 104 degree fever. Let the Kenyans come to New Jersey if they wish. We have some nice Wawa's and strip malls here.
Re: Share Your Money-Saving "Secrets" Here
Do you own taxes. Not so much for what you save on fees but to understand where that tax bill comes from. Probably the biggest or second biggest expense for most.
- englishgirl
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- Location: FL
Re: Share Your Money-Saving "Secrets" Here
Don't buy a McMansion. Don't drive a fancy car. Don't wear designer clothes. Don't go to a fancy salon.
Seriously. The big stuff is so much easier to save big money on than the small stuff.
And then...pay yourself first. Meaning, automate your savings so that money comes out first. And after a while, pay yourself more and try to live on less. Then repeat.
Seriously. The big stuff is so much easier to save big money on than the small stuff.
And then...pay yourself first. Meaning, automate your savings so that money comes out first. And after a while, pay yourself more and try to live on less. Then repeat.
Sarah
Re: Share Your Money-Saving "Secrets" Here
Shop around for home and auto insurance every so often. I think people are really, really loyal to their insurance company, for reasons that mystify me. :lol:
Re: Share Your Money-Saving "Secrets" Here
Brown bag. I'm amazed that most of my co-workers go out for lunch nearly every day. Of course, they make twice my salary, but still.
Gordon
Re: Share Your Money-Saving "Secrets" Here
I do not see it as any coincidence that NEVER do the Ads for saving preimums over this or that competitor list USAA Insurance as a competitor. Guess it is because in over 30 years of casual comparison there never was a lower rate (Apples to Apples). In my case loyality does pay.leo383 wrote:Shop around for home and auto insurance every so often. I think people are really, really loyal to their insurance company, for reasons that mystify me. :lol:
OAG=Old Army Guy. Retired CW4 USA (US Army) in 1979 21 years of service @ 38.
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Re: Share Your Money-Saving "Secrets" Here
Posters here may also be interested in a recent thread on Morningstar, "Your Greatest Money-Saving Tip for Retirement." It's oriented toward budgeting for those already retired (which we are not), but many of the suggestions are applicable to people at any stage of life.
http://socialize.morningstar.com/NewSoc ... px#3183229
Marc
http://socialize.morningstar.com/NewSoc ... px#3183229
Marc
- Taylor Larimore
- Posts: 32842
- Joined: Tue Feb 27, 2007 7:09 pm
- Location: Miami FL
The easiest way to save $600,000
Hi jbk:
The easiest money-saving secret I know is to drive an economy car instead of a luxury car. Both cars get you from A to B in reasonable comfort.
Let's look at the figures assuming we drive for 30 years (actually we drive much longer).
Entry-level Luxury Car: I went to Edmonds.com. They report the BMW 328I is a "perennial favorite" with a "5-Year Cost to Own" of $55,011.
Economy Car: Edmonds recommends the Ford Fiesta with a "5-Year Cost to Own" of $31,054.
The Economy Car owner saves $23,957 ($55,011 -$31,054) or $4,791 annually.
$4,791 invested annually for 30 years at 8% accumulates to more than $600,000.00
This is the easiest way to save $600,000.00 that I know.
Best wishes
Taylor
The easiest money-saving secret I know is to drive an economy car instead of a luxury car. Both cars get you from A to B in reasonable comfort.
Let's look at the figures assuming we drive for 30 years (actually we drive much longer).
Entry-level Luxury Car: I went to Edmonds.com. They report the BMW 328I is a "perennial favorite" with a "5-Year Cost to Own" of $55,011.
Economy Car: Edmonds recommends the Ford Fiesta with a "5-Year Cost to Own" of $31,054.
The Economy Car owner saves $23,957 ($55,011 -$31,054) or $4,791 annually.
$4,791 invested annually for 30 years at 8% accumulates to more than $600,000.00
This is the easiest way to save $600,000.00 that I know.
Best wishes
Taylor
"Simplicity is the master key to financial success." -- Jack Bogle
Re: Share Your Money-Saving "Secrets" Here
I have people around me making half my salary that go out every day. And they drive new cars. I really don't see how they do it. Of course I don't see what their spouses are making so it's hard to judge their situation. My wife has a home business that doesn't make a lot of money but she's happy (so I don't really count that as a 2nd income).gkaplan wrote:Brown bag. I'm amazed that most of my co-workers go out for lunch nearly every day. Of course, they make twice my salary, but still.
We cook a big batch of something every Sunday and divide it out to 5 weekday lunches each for my wife & I. It's more economical to cook larger batches that way. We only dine out on Saturday for lunch and a few other special occasions per year.
Other things we have done:
Cancel all pay-TV service and get local TV through an OTA antenna
Use Netflix/Hulu to watch movies and TV shows
Keep driving our cars as long as safely possible (and do as much self-maintenance as possible)
Raise deductibles and drop all but essential coverage on the older cars
Do most work on the house myself
Try to focus on things on sale when grocery shopping
Keep detailed spending records - once you know where your money is going, it's easier to focus on the big items
Programmable thermostats on each floor
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Re: Share Your Money-Saving "Secrets" Here
1. Keep your pantry, tools, linens, medicine cabinet, garage, refrigerator organized. You would not believe how much money can be wasted just because you can't find something or don't know you have it due to disorganization or clutter.
2. Keep your wardrobe small. Similar to #1, you won't wear what you can't see in an overstuffed closet. You also wear clothes out in less time (because they are worn more frequently), meaning you will have more current clothes because your wardrobe cycle time will be shorter.
2b. Buy classic clothes in good fibers like fine-gauge wool sweaters, quality leather shoes, and decent denim.
3. Pay off all debt excluding the mortgage. Then pay off the mortgage.
4. Eat leftovers. This saves time, money, and if you do it right it will help keep your weight in check.
2. Keep your wardrobe small. Similar to #1, you won't wear what you can't see in an overstuffed closet. You also wear clothes out in less time (because they are worn more frequently), meaning you will have more current clothes because your wardrobe cycle time will be shorter.
2b. Buy classic clothes in good fibers like fine-gauge wool sweaters, quality leather shoes, and decent denim.
3. Pay off all debt excluding the mortgage. Then pay off the mortgage.
4. Eat leftovers. This saves time, money, and if you do it right it will help keep your weight in check.
An elephant for a dime is only a good deal if you need an elephant and have a dime.
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Re: The easiest way to save $600,000
I'm totally with you on this, only my plan feel apart when we had kids. I just went from a Honda Fit to a Toyota Highlander. I still tried to go cheap (6 years old and base base base model), but the fuel economy and cheap cost-to-own just isn't there anymore.Taylor Larimore wrote:Hi jbk:
The easiest money-saving secret I know is to drive an economy car instead of a luxury car. Both cars get you from A to B in reasonable comfort.
Let's look at the figures assuming we drive for 30 years (actually we drive much longer).
Entry-level Luxury Car: I went to Edmonds.com. They report the BMW 328I is a "perennial favorite" with a "5-Year Cost to Own" of $55,011.
Economy Car: Edmonds recommends the Ford Fiesta with a "5-Year Cost to Own" of $31,054.
The Economy Car owner saves $23,957 ($55,011 -$31,054) or $4,791 annually.
$4,791 invested annually for 30 years at 8% accumulates to more than $600,000.00
This is the easiest way to save $600,000.00 that I know.
Best wishes
Taylor
An elephant for a dime is only a good deal if you need an elephant and have a dime.
Re: Share Your Money-Saving "Secrets" Here
Most people don't need their vacation homes right on the water, so look for something with just an ocean view.
Also, consider a fractional ownership plan of your jet. If you really analyze it, you probably aren't actually flying as much as you think.
These ideas have saved me a fortune. I don't worry about all the jokes from my friends about being a tightwad.
Also, consider a fractional ownership plan of your jet. If you really analyze it, you probably aren't actually flying as much as you think.
These ideas have saved me a fortune. I don't worry about all the jokes from my friends about being a tightwad.
Re: Share Your Money-Saving "Secrets" Here
Keep a car at minimum 10 years preferably longer(consider used in early days of life,after you have saved and invested enough over time then pay cash for new if you want new-then get a Honda or Toyota product,,yes lexus included :lol
Before you make a purchase consider-it is AFTER tax money you are spending,so add 28%(tax bracket) to the cost of the item.Think about it when purchasing a New car
Don't buy too much house(This one is HUGE-additional expenses,,utilities/taxes/maintenence ad nauseum
Spend a vacation relaxing on your front porch(If you have one or visit the parks in your area
Don't buy whole life insurance(Eventually when you are in the financial position insure yourself)
Shop auto insurance online ,check geico(I'm not affiliated) :lol:
Do you really need comprehensive and collision?
For that fact do you really need 3 or 4 cars in your driveway?
Choose high deductibles/auto ,home etc
Don't buy extended warranties(especially auto)
Don't buy a Boat(a big one that is)
Don't install an inground swimming pool.If you must get an above ground ,then tear it down when the kids are gone
Cook meals at home you can do wonders with rice beans and vegetables(drink water)
Use half a napkin
Stay away from debt(One DEBIT card if you must)
Forget Starbucks(Stop by Mcdonalds for coffee ,its not bad,Seniors free refills)
Turn the thermostat down in the winter or up in the summer
Turn off the lights
Energy saver bulbs
Hang your clothes outside on warm days to dry
Shop Amazon ,Walmart,Ebay-look for free shipping
Walmart - get glasses adjusted and cleaned(they replaced my nosepads for free)did not buy glasses there(free refills on glasses cleaner after one time purchase)
Grocery shop Sunday night Monday morning,look for reduced items after the weekend
Use disposable razor blades-Personna(you can sharpen them by brushing them across a leather belt about 10 times after shaving.I've been using the same blade 4 months still sharp.
Buy Barbasol shaving cream
Aim toothpaste/.97 at Walmart Crest about 3 bucks
Rethink the laundry detergent you are using ,Tide is Expensive
Shop Equate and Great Value brand at Walmart
Consider store brands at all stores
Powered milk
Don't overpay for dog food(get a small dog )
Don't buy an expensive watch
Don't buy bottled water it cost about 3 bucks a gallon
Don't try to keep up with thh Joneses,they don't care
Drink more water
Eat @ Mexican restauraunts they keep bringing chips and salsa
No magazine or newspaper subscriptions,its all available on the internet
No smartphone(thats a tough one these days )
If you do have smartphone download Amazon shopper,scan an item in a store and let Amazon check price for you
Cut the landline
Use google phone its still free
Handle as much business as possible online(reduce postage-who likes to lick envelopes anyway)
choose low cost investments
Do your own taxes(don't overpay for software)
Don't overpay for a new computers,printers etc( I used to sell them-people would buy way more computer than they would ever need)
Dont waste money on printer cartridges just do a print screen and save it
Use ALL tax free or tax deferred investing vehicles available to you over your life-401k,Roth,Ira etc.(great way to save )
helps reduce the corrosive effects of taxes.
Use Quicken to track expenses,set up a budget and STICK TO IT( I can vouch that IT WORKS}
Work diligently to pay off your mortgage,don't let anyone convince you otherwise.The way I see it ,if someone wants the tax deduction send me the yearly interest paid and I will send them the tax savings
Don't feel "pressured" to spend a lot of money for gifts,,,Xmas etc
Make sure your teen pays for some costs of using vehicle(insurance,gas,etc)
Do not buy them a car(let them figure it out,you have to learn to crawl before you can walk)
Let them share in the expenses of college education,if it means work then so be it
Remember no one is going to fund your retirement but YOU ,not even your children
Stay healthy in Body and Soul,healthcare costs can be extraordinarily expensive over life if you don't make an attempt:
If you smoke ,STOP (expensive and unhealthy)
brush floss constantly,invest in a SonicCare toothbrush(reduce dental expenses over the years)
Drink water(again-not bottled)
Exercise,walk,exercise walk,ride a bike ,think fruit vegetables constantly
When you feel "bored"looking for somthing to do,get up and move
Simplify,Simplify,Simplify(Saves TIME of which you can't purchase)
If you see a penny on the ground,"pick it up"-five pennies makes a nickel
After all is said and done and you have "made it",then give some away
Enjoy Your Day :peace
Before you make a purchase consider-it is AFTER tax money you are spending,so add 28%(tax bracket) to the cost of the item.Think about it when purchasing a New car
Don't buy too much house(This one is HUGE-additional expenses,,utilities/taxes/maintenence ad nauseum
Spend a vacation relaxing on your front porch(If you have one or visit the parks in your area
Don't buy whole life insurance(Eventually when you are in the financial position insure yourself)
Shop auto insurance online ,check geico(I'm not affiliated) :lol:
Do you really need comprehensive and collision?
For that fact do you really need 3 or 4 cars in your driveway?
Choose high deductibles/auto ,home etc
Don't buy extended warranties(especially auto)
Don't buy a Boat(a big one that is)
Don't install an inground swimming pool.If you must get an above ground ,then tear it down when the kids are gone
Cook meals at home you can do wonders with rice beans and vegetables(drink water)
Use half a napkin
Stay away from debt(One DEBIT card if you must)
Forget Starbucks(Stop by Mcdonalds for coffee ,its not bad,Seniors free refills)
Turn the thermostat down in the winter or up in the summer
Turn off the lights
Energy saver bulbs
Hang your clothes outside on warm days to dry
Shop Amazon ,Walmart,Ebay-look for free shipping
Walmart - get glasses adjusted and cleaned(they replaced my nosepads for free)did not buy glasses there(free refills on glasses cleaner after one time purchase)
Grocery shop Sunday night Monday morning,look for reduced items after the weekend
Use disposable razor blades-Personna(you can sharpen them by brushing them across a leather belt about 10 times after shaving.I've been using the same blade 4 months still sharp.
Buy Barbasol shaving cream
Aim toothpaste/.97 at Walmart Crest about 3 bucks
Rethink the laundry detergent you are using ,Tide is Expensive
Shop Equate and Great Value brand at Walmart
Consider store brands at all stores
Powered milk
Don't overpay for dog food(get a small dog )
Don't buy an expensive watch
Don't buy bottled water it cost about 3 bucks a gallon
Don't try to keep up with thh Joneses,they don't care
Drink more water
Eat @ Mexican restauraunts they keep bringing chips and salsa
No magazine or newspaper subscriptions,its all available on the internet
No smartphone(thats a tough one these days )
If you do have smartphone download Amazon shopper,scan an item in a store and let Amazon check price for you
Cut the landline
Use google phone its still free
Handle as much business as possible online(reduce postage-who likes to lick envelopes anyway)
choose low cost investments
Do your own taxes(don't overpay for software)
Don't overpay for a new computers,printers etc( I used to sell them-people would buy way more computer than they would ever need)
Dont waste money on printer cartridges just do a print screen and save it
Use ALL tax free or tax deferred investing vehicles available to you over your life-401k,Roth,Ira etc.(great way to save )
helps reduce the corrosive effects of taxes.
Use Quicken to track expenses,set up a budget and STICK TO IT( I can vouch that IT WORKS}
Work diligently to pay off your mortgage,don't let anyone convince you otherwise.The way I see it ,if someone wants the tax deduction send me the yearly interest paid and I will send them the tax savings
Don't feel "pressured" to spend a lot of money for gifts,,,Xmas etc
Make sure your teen pays for some costs of using vehicle(insurance,gas,etc)
Do not buy them a car(let them figure it out,you have to learn to crawl before you can walk)
Let them share in the expenses of college education,if it means work then so be it
Remember no one is going to fund your retirement but YOU ,not even your children
Stay healthy in Body and Soul,healthcare costs can be extraordinarily expensive over life if you don't make an attempt:
If you smoke ,STOP (expensive and unhealthy)
brush floss constantly,invest in a SonicCare toothbrush(reduce dental expenses over the years)
Drink water(again-not bottled)
Exercise,walk,exercise walk,ride a bike ,think fruit vegetables constantly
When you feel "bored"looking for somthing to do,get up and move
Simplify,Simplify,Simplify(Saves TIME of which you can't purchase)
If you see a penny on the ground,"pick it up"-five pennies makes a nickel
After all is said and done and you have "made it",then give some away
Enjoy Your Day :peace
Last edited by Toons on Tue Jan 31, 2012 9:08 am, edited 1 time in total.
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
- Go Blue 99
- Posts: 1119
- Joined: Thu Oct 09, 2008 3:42 pm
Re: Share Your Money-Saving "Secrets" Here
If you want to buy something, set up an alert on SlickDeals or FatWallet. Or just peruse that site every now and then. Excellent deals pop up on those sites.
Re: Share Your Money-Saving "Secrets" Here
if you're no longer using the in-ground pool, fill it in with soil and start a sunken garden.
-
- Posts: 41
- Joined: Tue Apr 05, 2011 9:18 am
Re: Share Your Money-Saving "Secrets" Here
Get a home gym (rack + bench + free weights). This saves time and gas. Best of all, you can workout anytime.
Get the home gym used or buy new and keep for life.
Barter - check craigslist.
DIY everything within reason and your own abilities. I do this just to be challenged and it's fun. I don't recommend performing your own vastectomy,
but a vastectomy might also be a good money-saver or for the ladies, get your tubes tied.
Plant a garden.
Invest in a reverse osmosis system for drinking water.
Prioritize, use selective consumption to better enjoy the fruits of your labor.
Be content with what you have. Don't buy what you want, but want what you have.
Get the home gym used or buy new and keep for life.
Barter - check craigslist.
DIY everything within reason and your own abilities. I do this just to be challenged and it's fun. I don't recommend performing your own vastectomy,
but a vastectomy might also be a good money-saver or for the ladies, get your tubes tied.
Plant a garden.
Invest in a reverse osmosis system for drinking water.
Prioritize, use selective consumption to better enjoy the fruits of your labor.
Be content with what you have. Don't buy what you want, but want what you have.
-
- Posts: 2311
- Joined: Sat Apr 09, 2011 6:28 am
- Location: Chicago North Shore
Re: Share Your Money-Saving "Secrets" Here
I forgot one of my favorites...
I use www.camelcamelcamel.com to set up price alerts on Amazon. This works great if you want something because you can see the price history for the last 12 months and set a notification so you know when the price drops below your desired price. I've gotten some great deals using this.
I use www.camelcamelcamel.com to set up price alerts on Amazon. This works great if you want something because you can see the price history for the last 12 months and set a notification so you know when the price drops below your desired price. I've gotten some great deals using this.
An elephant for a dime is only a good deal if you need an elephant and have a dime.
-
- Posts: 21
- Joined: Fri Jul 10, 2009 12:20 pm
Re: Share Your Money-Saving "Secrets" Here
-Use a credit card that offers cash back...5% on gas, groceries and drugstores etc.
-If you go out to eat check to see if you can use a groupon or restaurant.com certificate ($2 for a $25 certificate when on sale)
-when purchasing groupon/restaurant certificate as well as many other retail stores, purchase using fatwallet/ebates or shop discover to get cash back bonuses.
-for telephone, I like Ooma. It costs $150 to $200 for the device but only about $4 a month afterwards. I like it better than magic jack/google voice as you do not have to leave your computer on.
-If you go out to eat check to see if you can use a groupon or restaurant.com certificate ($2 for a $25 certificate when on sale)
-when purchasing groupon/restaurant certificate as well as many other retail stores, purchase using fatwallet/ebates or shop discover to get cash back bonuses.
-for telephone, I like Ooma. It costs $150 to $200 for the device but only about $4 a month afterwards. I like it better than magic jack/google voice as you do not have to leave your computer on.
Re: Share Your Money-Saving "Secrets" Here
I think the biggest money saver for me over the years has been buying good but inexpensive small cars, most used, paying cash, and running them ten years or more. I somehow managed this in a family that adored cars, bought them new and often. That included my grandparents (Packard lovers) who struggled through the Great Depression and were frugal about everything else. I remember one family member looking disapprovingly at a used car I'd just bought and saying, "You really don't like cars, do you?" The answer is I do like cars but I like the savings better.
"Yes, investing is simple. But it is not easy, for it requires discipline, patience, steadfastness, and that most uncommon of all gifts, common sense." ~Jack Bogle
Re: Share Your Money-Saving "Secrets" Here
Indeed. Often, "doing without" isn't saving money, it is just doing without.Dougie944 wrote:Most people don't need their vacation homes right on the water, so look for something with just an ocean view.
Also, consider a fractional ownership plan of your jet. If you really analyze it, you probably aren't actually flying as much as you think.
These ideas have saved me a fortune. I don't worry about all the jokes from my friends about being a tightwad.
I always wanted to be a procrastinator.
-
- Posts: 2576
- Joined: Tue Feb 27, 2007 8:17 pm
- Location: San Jose, CA
Re: Share Your Money-Saving "Secrets" Here
Saving on housing seems like the easiest way to save a lot. Even the difference on a car is only going to be a few thousand/yr, but living in a smaller house you can save around 50% of your housing costs, which is probably in the 10s of thousands.
Attend Bogleheads meetings
Attend Bogleheads local chapter meetings and national reunions.
I have received many good insights and specific suggestions at these events that resulted in immediate savings and long-term enhancements. The discussions in the open Forum are great, but there is additional value in tackling specific financial questions in one-on-one conversations with Mel, Grabiner, and others.
Victoria
I have received many good insights and specific suggestions at these events that resulted in immediate savings and long-term enhancements. The discussions in the open Forum are great, but there is additional value in tackling specific financial questions in one-on-one conversations with Mel, Grabiner, and others.
Victoria
Inventor of the Bogleheads Secret Handshake |
Winner of the 2015 Boglehead Contest. |
Every joke has a bit of a joke. ... The rest is the truth. (Marat F)
- JupiterJones
- Posts: 3623
- Joined: Tue Aug 24, 2010 3:25 pm
- Location: Nashville, TN
Re: Share Your Money-Saving "Secrets" Here
Ditto on the DIY stuff. By knowing how to do some basic car repair, I've saved piles of money. Not just in the repairs themselves, but also indirectly, since I can keep cars longer before they become cost-ineffective to maintain.
Same goes for plumbing and other household stuff. Just the other day I fixed my washer for about $20 in parts.
For books, I've developed a sort of book hierarchy. When I want a book, I first check my local library system. If they don't have it, I check the used bookstores nearby (usually brining some books to sell back in the process). After that, I'll hit Amazon, but only once I have $25 or more of items I need to get, so I get the free shipping.
Of course, for every penny-pinching tactic I employ, I'm sure I have at least one indulgence. I guess it all evens out in the end...
JJ
Same goes for plumbing and other household stuff. Just the other day I fixed my washer for about $20 in parts.
For books, I've developed a sort of book hierarchy. When I want a book, I first check my local library system. If they don't have it, I check the used bookstores nearby (usually brining some books to sell back in the process). After that, I'll hit Amazon, but only once I have $25 or more of items I need to get, so I get the free shipping.
Of course, for every penny-pinching tactic I employ, I'm sure I have at least one indulgence. I guess it all evens out in the end...
JJ
"Stay on target! Stay on target!"
Re: Share Your Money-Saving "Secrets" Here
An alert sounds like a good idea, but not browsing. Everyone I know that browses on deals sites ends up buying things they didn't even think about buying until they saw it was 40% off. The deals have a tendency to make people spend.Go Blue 99 wrote:If you want to buy something, set up an alert on SlickDeals or FatWallet. Or just peruse that site every now and then. Excellent deals pop up on those sites.
-
- Posts: 773
- Joined: Wed Jun 30, 2010 4:05 pm
Re: Share Your Money-Saving "Secrets" Here
College - If your child cooperates, have them take AP or "college in HS" courses to get College Credit ahead of time. Those courses along with taking some community college courses while still in high school can shave an entire year off of college. That is a HUGE saving - one year of tuition, room and board and fees. Community college costs pale in comparison.
- FrugalInvestor
- Posts: 6214
- Joined: Thu Nov 06, 2008 11:20 pm
Re: Share Your Money-Saving "Secrets" Here
After giving it more thought I think my number one "secret" is to carefully consider purchases in advance, never make impulse buys and return things that are not right. This saves me money in a number of ways.
The approach works particularly well for me because I am a researcher and also enjoy delayed gratification. To me the hunt is often at least as enjoyable as the purchase so I spend considerable time narrowing down exactly what I want and locating (or waiting for) a good price. It drives my wife a little crazy sometimes (especially with new cars) but I think she appreciates it in the end. We often discuss large joint purchases for quite some time to make sure both of our wants/needs are met. I sometimes get a little lost in the details and her very straightforward and practical questions keep me focused on the big picture.
If we see something that looks interesting when we're out and about, I'll often jot down what it is and the price and research it online when I get home. I can check out reviews, prices and options for similar products and alternative sources. If it turns out we really want the item we'll pick it up the next time we're at the store (or watch for it on sale) or buy it from an alternate source at a better price.
There are times that after researching I decide not to purchase the item at all or to purchase something different either because I find that the original item isn't going to fill the need well or that the need wasn't so great in the first place. Time can indeed cure all things! This happened recently when I considered buying or building a home theater PC, I ended up with a smart Blu-ray player and got much of the functionality and greater simplicity for much less money.
I am also not hesitant to take advantage of retailers generous return policies. If something isn't right or sometimes if I just decide I don't like it I will take it back. I'm honest when explaining the reason for return and don't go overboard with returns, but by being a little picky helps me get my money's worth and not end up with things I won't use. This happened recently with a TV purchase. I had checked with the manufacturer to make sure the TV had native Skype ability and was told by two reps that is did. In trying to hook up the camera I found that it did not so I returned it to the Best Buy and ended up buying the next model up that Best Buy does not stock from Amazon (at a lesser price, as it turns out).
Now I try not to be too OCD about the researching and the greater the expenditure the more time I will spend. But being retired and being something I enjoy doing I just look at it as a way I can make a little money with a "hobby" that I enjoy.
The approach works particularly well for me because I am a researcher and also enjoy delayed gratification. To me the hunt is often at least as enjoyable as the purchase so I spend considerable time narrowing down exactly what I want and locating (or waiting for) a good price. It drives my wife a little crazy sometimes (especially with new cars) but I think she appreciates it in the end. We often discuss large joint purchases for quite some time to make sure both of our wants/needs are met. I sometimes get a little lost in the details and her very straightforward and practical questions keep me focused on the big picture.
If we see something that looks interesting when we're out and about, I'll often jot down what it is and the price and research it online when I get home. I can check out reviews, prices and options for similar products and alternative sources. If it turns out we really want the item we'll pick it up the next time we're at the store (or watch for it on sale) or buy it from an alternate source at a better price.
There are times that after researching I decide not to purchase the item at all or to purchase something different either because I find that the original item isn't going to fill the need well or that the need wasn't so great in the first place. Time can indeed cure all things! This happened recently when I considered buying or building a home theater PC, I ended up with a smart Blu-ray player and got much of the functionality and greater simplicity for much less money.
I am also not hesitant to take advantage of retailers generous return policies. If something isn't right or sometimes if I just decide I don't like it I will take it back. I'm honest when explaining the reason for return and don't go overboard with returns, but by being a little picky helps me get my money's worth and not end up with things I won't use. This happened recently with a TV purchase. I had checked with the manufacturer to make sure the TV had native Skype ability and was told by two reps that is did. In trying to hook up the camera I found that it did not so I returned it to the Best Buy and ended up buying the next model up that Best Buy does not stock from Amazon (at a lesser price, as it turns out).
Now I try not to be too OCD about the researching and the greater the expenditure the more time I will spend. But being retired and being something I enjoy doing I just look at it as a way I can make a little money with a "hobby" that I enjoy.
Have a plan, stay the course and simplify. Then ignore the noise!
- fishnskiguy
- Posts: 2635
- Joined: Tue Feb 27, 2007 12:27 pm
- Location: Castle Rock, CO
Re: Share Your Money-Saving "Secrets" Here
Limit yourself to one $2,500 bamboo fly rod per year. Your collection will grow fast enough.
Chris
Chris
Trident D-5 SLBM- "When you care enough to send the very best."
Re: Share Your Money-Saving "Secrets" Here
Use your library. I've never purchased a bogleheads type book (sacrilege!), just got them from the library. Our library has an online system and you can do lookups/requests etc. Saved me loads in book purchases.