| REFLUX |
Forget if this has been discussed before but what're some things you do or don't do to cut down on costs?
A few I can think of:
-Turn down the heat
-More fuel efficient car or public transport or don't drive as much
-Cook more often & eat out less often
-Rent movies instead of going to the theaters
-Cut your own hair (or have someone do it for free) |
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| ehos |
1) Don't buy depreciating assets (cars, tv's, blah blah blah)
2) Buy appreciating assets.
The pennies you save from 'turning down the heat' is insignificant. So is your 'eating out' budget. Try it, use Quiken or something similar. My 'eating out' is less than 1% of my expenses (I eat out every day). |
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| JustinL |
heheh find a cheaper hobby than cars...
My philosophy now is really see the value in things. Sure I could save a buck every day by not taking a stroll to get coffee. But I really enjoy that little break and a nice hot cup of coffee in the middle of the morning. That cup of coffee is worth more to me than the dollar it costs. |
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| Z32NUT |
quote:
Originally posted by JustinL
That cup of coffee is worth more to me than the dollar it costs.
UNfortunately, the Starbucks crowd is spending 4 bucks on that cup, and that's a waste. |
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| ehos |
Buy a thermos, make it at home.
But I agree, trying to micromanage the 'little' things isn't as glamourous (sp?) as the 'books' say it is. You wind up nickle and diming the little things. Then, BOOM blow it all on something much larger.
I say work on the big stuff (rent/payments, income etc) and the tiny stuff (quality of life stuff?) will easily take care of themselves.
You can save around 200K in your lifetime if you can manage just one little thing. CARS! :) And even more if you just eliminate them all together. |
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| Flex |
quote:
Originally posted by JustinL
heheh find a cheaper hobby than cars...
My philosophy now is really see the value in things. Sure I could save a buck every day by not taking a stroll to get coffee. But I really enjoy that little break and a nice hot cup of coffee in the middle of the morning. That cup of coffee is worth more to me than the dollar it costs.
I agree..........you never know when your time is up so why not injoy it while you can. Im not saying piss everything away but dont cut out all the things in life you enjoy either. |
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| oldraven |
| Burn Propane, not oil. |
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| GTS Jeff |
quote:
Originally posted by REFLUX
Forget if this has been discussed before but what're some things you do or don't do to cut down on costs?
A few I can think of:
-Turn down the heat
-More fuel efficient car or public transport or don't drive as much
-Cook more often & eat out less often
-Rent movies instead of going to the theaters
-Cut your own hair (or have someone do it for free)
I find that even eating in can cost just as much if you're eating well and renting movies costs lots too. Downloading movies is free though, so I do a lot of that.
But yeah, as it's been said, the best way to do it is to tackle the huge things. For the little things, that DO add up, it all boils down to self-control. It's as simple as not buying that coffee or not buying that chocolate bar. Simple, but not always easy. |
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| Insomniac |
I don't think some of those little things add up. You might rent movies and not buy that chocolate bar, but at the end of the year, you're up what, a couple hundred bucks?
Want to save money? Change your lifestyle. Get a cheap/efficient/reliable car. Get a roomate. Live with your parents. Invest money before you can spend it. Don't binge drink. That shit can add up to thousands. |
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| SilverZ24 |
| Stay single. lol |
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| ehos |
quote:
Originally posted by SilverZ24
Stay single. lol
No way. :)
PURELY from an economic point of view, you make double, you spend much less. Couples working co-operatively make much more than singles ever do.
And, just my opinion, you live a much better quality of life :) |
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| wubba_65 |
I prowl local car forums looking for people that have nice rides. Then i find those rides, and either steal them outright or break in and steal all the audio/video equipment out of them. I have a really nice stereo, and a new "title" for my Lexus from a written off one in the Junkyard. The money I get from the pawn shops allows me to buy better theiving tools, and I get more stuff. It is an "appreciating" investment.
I am a gigilo, women pay me to give them pleasure.
:D
**** Everything above was JUST A JOKE *******
as a side note:
Almost zero eating out,
do my own car repairs and mods,
fabricate items or adapt other items to suit my needs where possible,
hair cut every 2.5 - 3 months on average,
make coffee at home (big difference to buying at Timmy's even, even if you buy Timmies coffee at Sobeys and brew at home),
rent movies at a cheap store (Sherwood Park in the same complex as the Pasta Pantry, buy 10 rentals at once.... $35, can use any time ie one movie at a time).
Don't buy "essentials" unless I need them (new clothes, etc). I'm not poorly dressed by any means, but I used to go out and buy new clothes because I was bored. Now I just buy if I need and it's on sale.
Never pay original asking price (buy summer clothes in the fall, and winter clothes in the spring, etc, when it is all on sale).
Find ways to get things for free (tour guide with ski tour company, ride for free 10 - 11 weekends/year).
Little things do help, and also being smart on the big things as well. I installed almost everything in my condo (flooring, kitchen, plumbing, baseboard, moulding, some lighting, phone jacks, fixtures, etc). We upgraded a lot of stuff that we purchased ourselves. Got decent rebates for refusing the labor and the materials supplied by the builder, and as a result, probably have close to $10,000 in "equity" (as solid a definition as that holds) into our condo on the day that we moved in. |
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| SilverZ24 |
quote:
Originally posted by ehos
No way. :)
I meant compared to dating, not getting married or moving in together. :)
quote:
Originally posted by ehos
PURELY from an economic point of view, you make double...
You should know that is seldom the case, guys always make more. :p |
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| Supra_devil |
i found i saved a lot of money buy "paying yourself first" as they say. i took all my overtime money, vacation/holiday pay (payed to me on every cheque), and like 20 or so a month and threw it all into savings before i ever touched it for anything else, for the vacation pay and the 20 i had it automatically set to ftansfer on pay days.
I saved up about 6 G's in less than three months, i worked lots of over time, but it was still almost $1000 from the vacation and 20 dollars thing.
Me and a friend also used to eat out and cruise a lot, we have since stopped that as much, and it is saving us a lot, eating out 1-2 times a night and driving around all night is not good for your health either, so it was an easy choice, plus neither of us was working at the time, lol.
saving pennies can save you a lot of money, i ussually take all my change and throw it in a jar/bottle/etc, i recently rolled them and took them in $50 right there. Penny pinching little things is the same way, you may only spend it on something bigger, but a lot of the time i don't need or miss the little things i would have got, and i like the bigger thing much more. Mmmmm, turbo goodness, lol. |
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| BLK_LBL |
1 - ALWAYS pre-drink before going to the bar.
2 - have people over to pre-drink. (empty beer cans left at your house are like free money)
3 - Roll your own cigarettes. (i spent $140/mo on butts, but it now costs me $60/mo to roll my own)
4 - Buy things second-hand. (the computer im using i got from a friend, only cost me a case of beer) |
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| midnite |
get a high interest savings account and setup automatic withdrawls on your pay days.
cancel subscriptions you don't need. when i moved i didn't sign up for cable because i never really used it. do you really need the newspaper when you can check it online?
magazines, cell phone, gym? i don't have telus call waiting or voicemail, only caller id.
if raising your deductable from 250 to 1000$ saves you over a grand a year, your ahead even if you make 1 claim.
pre-drinking is definatly a cost saver. |
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| bmwboyz |
| not bindge drinking is a must, and so is pre-drinkin when u do. that is for sure. and since i live at home, defintly eating in saves so much cash for me its stupid. cause when i go out to eat at resturants i always tip way to much (cause im a server). and ya buying things second hand, not ghetto things thou, always helps. so does EBAY |
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| GTS Jeff |
quote:
Originally posted by Insomniac
I don't think some of those little things add up. You might rent movies and not buy that chocolate bar, but at the end of the year, you're up what, a couple hundred bucks?
Want to save money? Change your lifestyle. Get a cheap/efficient/reliable car. Get a roomate. Live with your parents. Invest money before you can spend it. Don't binge drink. That shit can add up to thousands.
Yeah. If you can spare a couple hundred bucks why don't you throw it my way? |
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| Charles_00civic |
quote:
Originally posted by ehos
1) Don't buy depreciating assets (cars, tv's, blah blah blah)
2) Buy appreciating assets.
The pennies you save from 'turning down the heat' is insignificant. So is your 'eating out' budget. Try it, use Quiken or something similar. My 'eating out' is less than 1% of my expenses (I eat out every day).
Lets say you spend 3 dollars eating each day. (Pretty low) then multiply that by 30 and you have 90. To make it into that one percent we'll multiply it by 100 to find 100 percent. 9000 So 9000 a month total is spent. 9,000 by 12 is 108,000. Where doyou work to make 108,000. Since you post on a cr forum like this I am assuming your not like 35+ where your in a position to become professional and make an income like this. You even said less than 1 percent. So more than 108,000. lol. :blue: i'm a jerk. |
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| Charles_00civic |
quote:
Originally posted by BLK_LBL
1 - ALWAYS pre-drink before going to the bar.
2 - have people over to pre-drink. (empty beer cans left at your house are like free money)
3 - Roll your own cigarettes. (i spent $140/mo on butts, but it now costs me $60/mo to roll my own)
4 - Buy things second-hand. (the computer im using i got from a friend, only cost me a case of beer)
Hey! Good plan. By rolling you own cigs your saving 80 a month. Multiply that by the years taken off your life and your saving big money here! :rolleyes: |
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| ae1969 |
quote:
Originally posted by Charles_00civic
Lets say you spend 3 dollars eating each day. (Pretty low) then multiply that by 30 and you have 90. To make it into that one percent we'll multiply it by 100 to find 100 percent. 9000 So 9000 a month total is spent. 9,000 by 12 is 108,000. Where doyou work to make 108,000. Since you post on a cr forum like this I am assuming your not like 35+ where your in a position to become professional and make an income like this. You even said less than 1 percent. So more than 108,000. lol. :blue: i'm a jerk.
Your figures are right on.... I eat out everyday........ and its not 3 dollars...
Plus I enjoy spending 4 bucks on that morning cup of coffee.
It gets me going to take on the day! :D
You can't put a price tag on living.............
But like everything ........live within your means.
Some spend 10K a year cigarettes? Some spend that on booze, coffee, eating out.......... Its definitely a luxury.
But ehos is correct. Save the money on the big things!!! Not the little things and enjoy life. :D
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| REFLUX |
I put cooking your own food because typically it's healthier.
Was a while back but I was "fortunate" enough to have spent some time working for restaurants and believe me, they don't make money by cooking everything in Olive Oil & using fresh ingredients.
So if you're going to spend $20 on a meal, I'd rather spend it on a healther alternative.
Good points though everyone!:thumbup: |
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| TrevorK |
quote:
Originally posted by ae1969
But ehos is correct. Save the money on the big things!!! Not the little things and enjoy life. :D
Dead on.
I've been learning, in part because of my lack of free time, that if I feel like dropping $60 on dinner for me and my gf (Which is cheap by some standards) that it's no big deal. In fact, it's now become the normal amount for dinner when we go out.
I save money where it's obvious I can (Programmable thermostat, etc....) and where it also does not impact my free time to any large degree.
However, I'm not going to sit around, clip coupons and go to Superstore and fight for my $0.10 off of a 4L jug of milk. It's not worth my time.
Live life within your means. That doesn't mean to skimp/save every penny and go without the things you want - that's just existing within your means. |
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| REFLUX |
One thought on "saving money on the big things"
Aren't "big things" usually the items that "you get what you pay for?"
For example...a car.
That's considered a relatively "big" purchase.
Should you save a couple thousand by picking up that Kia/Hyundai or put the extra dollar on a Lexus or Infiniti?
Afterall, you get what you pay for right?
So where is the line drawn? |
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| turbo_dave |
i have to second makeing your own food. Eating two shitty meals on campus usually costs me in the neighborhood of 10 - 15 dollars per day ( 2 meals, snack), which amounts to around 50 bucks per week. 50 $ in groceries will last me 2-3 school weeks.
One piece of advice is controlling your credit/ finances. Pay off your credit cards and put the remainder of the money into a no fee, high interest savings account (Presidents choice, ING). You can open a low interest no fee chequing account and use that for day to day spending or just use a credit card( like i do ). Before i adopted this "philosophy" i was paying the minum payment on my visa statement, and was paying around 10$/ month in royal bank fees and another 10-20$ in interest. Now what little money I have is working for me ( at the rate of around 2% per anum :) )
I guess it's all relative tho... if i was makeing the big money, or the decent money :) i wouldn't be complaining about 50/ week for food or 20$/ month interest/ banking fees. But for a student this really adds up,it leaves more money for the finer things in life, like beer :). I wonder how much brewing my own would save me :)? |
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| TrevorK |
quote:
Originally posted by REFLUX
One thought on "saving money on the big things"
Aren't "big things" usually the items that "you get what you pay for?"
For example...a car.
That's considered a relatively "big" purchase.
Should you save a couple thousand by picking up that Kia/Hyundai or put the extra dollar on a Lexus or Infiniti?
Afterall, you get what you pay for right?
So where is the line drawn?
I save money on the "big things" by:
- Waiting to buy a TV (Or another high ticket item) when it's onsale, not just whenever
- Purchasing a car that'll make me happy - but within my means
- Purchasing a house that'll make me happy - but within my means
- etc...
I'm not advocating that you buy the no-name version of the "big things" - but I'm advocating that buy the big things, the model within your means, and not on impulse.
Would a 2005 G35 couple make me just as "happy" as a 2004 G35 coupe? Absolutely. Will owning a used G35 (Taken care of) cause me any difficulties? Most likely no. Can I save $2000-$4000 with a one year old one? Yes. |
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| TrevorK |
quote:
Originally posted by turbo_dave
amounts to around 50 bucks per week. 50 $ in groceries will last me 2-3 school weeks.
You lucky bastard - that just barely covers the chicken/peas I eat in a week! |
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| turbo_dave |
| you have to grocery shop economically . No brand names for me :) . Another way to save money is by going bulk. . Suprisingly alot of clerks don't know the difference between chilli powder which is around $0.90/ 100g and seasoning salt which is $0.10/ 100g. Many of them are not educated in the differences between the many varieties of rice, tomatoes, nuts, peppers, etc. :) |
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| SilverZ24 |
Maybe rather than trying to find ways to save money, you should look for ways to increase your income :dunno:
But I definitely agree with the people saying to focus on the big things. House and car are the two biggest expenses you will probably ever have. And just because the bank says you can afford a 300 grand mortgage doesn't mean that you actually can comfortably afford it.
There are people in my neighborhood that you can tell are house poor because they have been in their new houses for about 2 years and still haven't built a deck or done landscaping. Pathetic IMO if you can't take that stuff into consideration before you build a new house. And the worst part is these poor bastards that live around me that can't afford to pay me for the fence that I put up. It cost me just over 7 grand for the fence in May (and everyone said they would pay their half at that time) and only one of the 4 guys I back onto have coughed up the money for their part. The rest claim they don't have the spare money. IMO the three of them should have never built a new house in the first place. :mad:
But anyway, that is my little rant because last night I went around to remind everyone they owe me money and I am not a bank. :rolleyes: |
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| ae1969 |
quote:
Originally posted by REFLUX
One thought on "saving money on the big things"
Aren't "big things" usually the items that "you get what you pay for?"
For example...a car.
That's considered a relatively "big" purchase.
Should you save a couple thousand by picking up that Kia/Hyundai or put the extra dollar on a Lexus or Infiniti?
Afterall, you get what you pay for right?
So where is the line drawn?
The problem is that everyone has a different definition of BIG things.
Some have enough for the basics so obviously you are not going to be able to have too much extra cash to spend.
I would say approximately 15 years ago.... when I was a starving student. The biggest luxury I had was buying a container of butter pecan Ice Cream. That did it for me. I was happy to do that for myself.
If I found 20 bucks........wooo hooo... Pizza 73 here we come.
The biggest ticket Item I purchased back then probably was a T.V ~500 bucks?
So lets just say you have to slowly adapt and change to your lifestyle/luxury choices.
The one thing that has always been in the back of my mind is to NEVER EVER be house poor.
That is probably the single largest purchase most individuals will make. I would say most individuals over extend themselves. It is good and bad..... but thats another discussion......
What is funny that some of the rental properties I own are worth more than my house? My friends usually laugh at me for renting out houses that are worth more than mine. :D
But I am happy with my house. I am making my house as comfortable as possible. Love my neighbors and neighborhood so I can't move. :(
I just wish I had room for a 4 car garage. Maybe in another life. :D |
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| Z32NUT |
quote:
Originally posted by SilverZ24
And just because the bank says you can afford a 300 grand mortgage doesn't mean that you actually can comfortably afford it.
Being house poor sucks. I have a buddy in Calgary in a 3200 sq. ft mausoleum. He and his wife have to have meetings to see if they can afford Pizza Hut. That's pretty sad.
When I bought my house 2 months ago I looked to see what was in my price range and chose the house that fit my needs. I must admit that I got lucky and found one for about 1/2 of what the bank said I could "afford". 5-7 years from now, I'll have it paid off. My buddy might be up to going to the Keg every other month. |
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| ehos |
Well, for cars, spending a bit now, can save you alot later on. Ie if you're not mechanically inclined and you keep getting nickle and dimed on a 'pos' car, that's a bad way to save money initially.
Might as well step up, and buy a newish car and save on those fees. But I would NEVER buy a new car, no way, no how. Never. Nope. Not one single exception to that rule unless you can write off a BIG chunk via small business (even then...) |
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| SilverZ24 |
quote:
Originally posted by Z32NUT
When I bought my house 2 months ago I looked to see what was in my price range and chose the house that fit my needs. I must admit that I got lucky and found one for about 1/2 of what the bank said I could "afford".
When my wife and I had almost picked out a house to build we went to the bank just to get the paperwork done for the mortgage so as soon as we decided to go ahead we wouldn't have to waste time with the bank. The we told the price range we were looking at the lady said "you know you can easily look at houses about 100 grand more". I asked what happens if in two years my wife is pregnant and now we have one income and an extra person to support. She said "oh, most people don't worry about stuff like that". lol
I heard customer at work one day tell someone else "you should always buy the most expensive house you can afford, because you always find a way to pay for it and that way you don't have to upgrade as often." :blink: He was a genius. haha |
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| TrevorK |
quote:
Originally posted by SilverZ24
I heard customer at work one day tell someone else "you should always buy the most expensive house you can afford, because you always find a way to pay for it and that way you don't have to upgrade as often." :blink: He was a genius. haha
One bit of logic behind this is that a house can be forced savings.
So many people stretch their income to pay their bills, and save nothing. But by purchasing a larger house that they can afford on paper, it forces them to save more because they will have a more expensive house to borrow against when they need.
I highly doubt that's what the person is thinking - but I have met people who would fall into this criteria - where they can't seem to save any money, but they always pay off their bills. |
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| 96MX6 |
| Easiest way to save money is not to spend it on paying interest. |
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