Good furniture doesn't depreciate. I have a bedroom set made by Lambert Hitchcock in 1978 that I wouldn't sell for any price. You can't find that quality today, even at Drexel or Ethan Allen.
Good Frugal Saving Habits, Tips, Sites, Ideas???
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I've cut way back, only light my cigars with fifty dollar bills these days, instead of hundreds.
Originally Posted By: HosteenJorje
Good furniture doesn't depreciate. I have a bedroom set made by Lambert Hitchcock in 1978 that I wouldn't sell for any price. You can't find that quality today, even at Drexel or Ethan Allen.
Used furniture in the vast majority of cases is worth pennies on the dollar after a few years.
We can agree to disagree with that statement.
Good furniture doesn't depreciate. I have a bedroom set made by Lambert Hitchcock in 1978 that I wouldn't sell for any price. You can't find that quality today, even at Drexel or Ethan Allen.
Used furniture in the vast majority of cases is worth pennies on the dollar after a few years.
We can agree to disagree with that statement.
Triple_Se7en
$50 Site Donor 2024
Originally Posted By: Rock_Hudstone
I've cut way back, only light my cigars with fifty dollar bills these days, instead of hundreds.
Be careful when your oxygen tank arrives in the future. Quit those cigars now!
Willpower is actually easily-driven.
For water savings in the past year, I've put water volume restrictors on indoor faucets. Got a new-fangled (no agitator) clothes washer that uses very little water and finally got rid of my main bathroom 5-gallon toilet, for a top-rated American Standard that uses around 1.5 gallons per flush.
I also installed three rain-barrels in my yard, that hold about 150 gallons of rain water. I use the water constantly, instead of my city water. It's really helped invigorate all my flowers, indoor plants, shrubs and vegetable garden.
I've cut way back, only light my cigars with fifty dollar bills these days, instead of hundreds.
Be careful when your oxygen tank arrives in the future. Quit those cigars now!
Willpower is actually easily-driven.
For water savings in the past year, I've put water volume restrictors on indoor faucets. Got a new-fangled (no agitator) clothes washer that uses very little water and finally got rid of my main bathroom 5-gallon toilet, for a top-rated American Standard that uses around 1.5 gallons per flush.
I also installed three rain-barrels in my yard, that hold about 150 gallons of rain water. I use the water constantly, instead of my city water. It's really helped invigorate all my flowers, indoor plants, shrubs and vegetable garden.
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https://www.mrmoneymustache.com/
Interesting site. Some of it is a bit odd for me, but a lot of good info there as well.
Interesting site. Some of it is a bit odd for me, but a lot of good info there as well.
"You pay interest on everything you buy, you either give up the ability to earn interest when you pay cash or you pay interest to someone else when you borrow" There can be no other way.
Having each dollar do 3-5 jobs is key to long term wealth building.
Having each dollar do 3-5 jobs is key to long term wealth building.
Originally Posted By: gman2304
Pay your mortgage off early! Don't buy new vehicles! You'll save more money if you are disciplined in these purchases than in any couponing, bulk buying, scrimping pennies, lowering/raising the thermostat, practices. Not saying the latter doesn't save money, but you need to be practical with the small stuff. Sitting in the dark while burning a candle bundled up in January while reading a book you rented at the library, would get old rather quickly. [when young, live like no other...so when you're old, you can live like no other]!
I would tend to disagree.
Mortgage is paid back over the years with depreciating dollars. Buying a new car and taking care of it (using good lubricants) can last 15-20 years. Getting someone's used car you have no idea of the maintenance.
I would do a 50 year mortgage if they had one. Then I would invest the difference in appreciating/cash flowing assets.
But that's just me, I'm a numbers kind of guy and have worked it out. Especially today when interest rates are at 5,000 year lows.
Pay your mortgage off early! Don't buy new vehicles! You'll save more money if you are disciplined in these purchases than in any couponing, bulk buying, scrimping pennies, lowering/raising the thermostat, practices. Not saying the latter doesn't save money, but you need to be practical with the small stuff. Sitting in the dark while burning a candle bundled up in January while reading a book you rented at the library, would get old rather quickly. [when young, live like no other...so when you're old, you can live like no other]!
I would tend to disagree.
Mortgage is paid back over the years with depreciating dollars. Buying a new car and taking care of it (using good lubricants) can last 15-20 years. Getting someone's used car you have no idea of the maintenance.
I would do a 50 year mortgage if they had one. Then I would invest the difference in appreciating/cash flowing assets.
But that's just me, I'm a numbers kind of guy and have worked it out. Especially today when interest rates are at 5,000 year lows.
Originally Posted By: msparks
"You pay interest on everything you buy, you either give up the ability to earn interest when you pay cash or you pay interest to someone else when you borrow" There can be no other way.
Having each dollar do 3-5 jobs is key to long term wealth building.
What are your investment choices for YOUR money ?
"You pay interest on everything you buy, you either give up the ability to earn interest when you pay cash or you pay interest to someone else when you borrow" There can be no other way.
Having each dollar do 3-5 jobs is key to long term wealth building.
What are your investment choices for YOUR money ?
I use collateralized loans to purchase cash flowing non traditional assets (not the stock market) which pay a high single digit to low double digit return. Some holdings are.
Buy and Hold Real Estate
Bridge loans/hard money lending
Life settlements
I also use collarteralized loans for large purchases like vehicles and equipment for our business. Which allow me to write off interest if done correctly.
Buy and Hold Real Estate
Bridge loans/hard money lending
Life settlements
I also use collarteralized loans for large purchases like vehicles and equipment for our business. Which allow me to write off interest if done correctly.
Thanks for the reply. I did invest in the stock market for 35 years and do have a substantial amount today.
Lots of good ways to invest money.
Lots of good ways to invest money.
Originally Posted By: msparks
Originally Posted By: gman2304
Pay your mortgage off early! Don't buy new vehicles! You'll save more money if you are disciplined in these purchases than in any couponing, bulk buying, scrimping pennies, lowering/raising the thermostat, practices. Not saying the latter doesn't save money, but you need to be practical with the small stuff. Sitting in the dark while burning a candle bundled up in January while reading a book you rented at the library, would get old rather quickly. [when young, live like no other...so when you're old, you can live like no other]!
I would tend to disagree.
Mortgage is paid back over the years with depreciating dollars. Buying a new car and taking care of it (using good lubricants) can last 15-20 years. Getting someone's used car you have no idea of the maintenance.
I would do a 50 year mortgage if they had one. Then I would invest the difference in appreciating/cash flowing assets.
But that's just me, I'm a numbers kind of guy and have worked it out. Especially today when interest rates are at 5,000 year lows.
Also consider that a mortgage is a favored behavior by the irs compared to other uses of thr money, giving that a boost equal to your tax rate. Not all dollars are equal.
Originally Posted By: gman2304
Pay your mortgage off early! Don't buy new vehicles! You'll save more money if you are disciplined in these purchases than in any couponing, bulk buying, scrimping pennies, lowering/raising the thermostat, practices. Not saying the latter doesn't save money, but you need to be practical with the small stuff. Sitting in the dark while burning a candle bundled up in January while reading a book you rented at the library, would get old rather quickly. [when young, live like no other...so when you're old, you can live like no other]!
I would tend to disagree.
Mortgage is paid back over the years with depreciating dollars. Buying a new car and taking care of it (using good lubricants) can last 15-20 years. Getting someone's used car you have no idea of the maintenance.
I would do a 50 year mortgage if they had one. Then I would invest the difference in appreciating/cash flowing assets.
But that's just me, I'm a numbers kind of guy and have worked it out. Especially today when interest rates are at 5,000 year lows.
Also consider that a mortgage is a favored behavior by the irs compared to other uses of thr money, giving that a boost equal to your tax rate. Not all dollars are equal.
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Dump the smartphone.
Don't over maintain your car and home. I see so much money wasted on worrywart car maintenance and unnecessary home remodeling.
But I think everyone has their thing. I waste a ton of money on food.
Don't over maintain your car and home. I see so much money wasted on worrywart car maintenance and unnecessary home remodeling.
But I think everyone has their thing. I waste a ton of money on food.
We bought a 1000 sq foot house, everything is energy efficient and water thrifty.
So that keeps our electric, water, mortgage, gas bill down as low as possible.
Quit paying for cable TV. Get an employer to pay for your smartphone.
Switched to Geico.
My bad thing is restaurants, so I started packing lunch 2x per week that is good.
Also we found that ordering groceries online at the local store for pickup we save TONS of money per week, because we make zero impulse buys.
We also auto debit money into our savings account with every pay period.
So that keeps our electric, water, mortgage, gas bill down as low as possible.
Quit paying for cable TV. Get an employer to pay for your smartphone.
Switched to Geico.
My bad thing is restaurants, so I started packing lunch 2x per week that is good.
Also we found that ordering groceries online at the local store for pickup we save TONS of money per week, because we make zero impulse buys.
We also auto debit money into our savings account with every pay period.
Originally Posted By: FowVay
I simply spend far less than I earn. I don't waste money on foolishness. I invest heavily for my retirement and I insure what I have.
I carry zero debt. Make every purchase be a deliberate one and don't do the impulse buying thing. Plan for what you need and then execute the plan cleanly and efficiently. Buying the cheapest thing is rarely the best way to operate. Buy quality and take care of your things.
And finally, try to minimize your tax burden. There's not much rate of return on paying the government these days.
Pretty much what I do. I bought a smaller sensible house that doesn't cost a lot to insure, heat/cool, pay taxes on, etc. I buy cars that aren't real pricey to begin with and try to get them used. Basically, try to save at least 25% of your take-home earnings and you'll be ok when you get to my age (56). I don't go out to eat much and save that money (it adds up quickly).
I simply spend far less than I earn. I don't waste money on foolishness. I invest heavily for my retirement and I insure what I have.
I carry zero debt. Make every purchase be a deliberate one and don't do the impulse buying thing. Plan for what you need and then execute the plan cleanly and efficiently. Buying the cheapest thing is rarely the best way to operate. Buy quality and take care of your things.
And finally, try to minimize your tax burden. There's not much rate of return on paying the government these days.
Pretty much what I do. I bought a smaller sensible house that doesn't cost a lot to insure, heat/cool, pay taxes on, etc. I buy cars that aren't real pricey to begin with and try to get them used. Basically, try to save at least 25% of your take-home earnings and you'll be ok when you get to my age (56). I don't go out to eat much and save that money (it adds up quickly).
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Don't borrow money for anything except a home if you have to. Always pay yourself first. Live below your means. Budget every month. Pay cash instead of using credit cards. Use the envelope system as a means to budget. Realize that most people are terrible with money. Accept it and not care what people think when they call you "weird" for not buying new cars constantly, eating out and living up to your eyeballs in debt.
Follow this advice and if you do it right you should eventually have enough money in the bank/investments where you could quit your job for a few years and not have to worry about money by the time you are 30.
Google and read some articles by financial samurai. The advice you read will seem extreme and "weird" because it is to your average debt slave.
Most important of all is to be very generous when you realize you are financially free. Being able to tip a waitress $100 when you hear of her tough times. Being able to give generously to help people in need will make you happier than any material possession you could buy would. Being broke all the time will never allow you to experience this. Always budget and set aside money for charitable purposes even as you start out as a youn individual because you will be investing in yourself because you will become a better person.
Follow this advice and if you do it right you should eventually have enough money in the bank/investments where you could quit your job for a few years and not have to worry about money by the time you are 30.
Google and read some articles by financial samurai. The advice you read will seem extreme and "weird" because it is to your average debt slave.
Most important of all is to be very generous when you realize you are financially free. Being able to tip a waitress $100 when you hear of her tough times. Being able to give generously to help people in need will make you happier than any material possession you could buy would. Being broke all the time will never allow you to experience this. Always budget and set aside money for charitable purposes even as you start out as a youn individual because you will be investing in yourself because you will become a better person.
That is a loyal Dave Ramsey followers that just posted.
Follow that advice, have bad credit rating, pay more for insurance and loans( if you ever need one).
Best real advice- Be Responsible!!
Follow that advice, have bad credit rating, pay more for insurance and loans( if you ever need one).
Best real advice- Be Responsible!!
Sometimes Dave gives silly advice like eating rice and beans for 7 years until $100K debt is paid off.
Originally Posted By: L_Sludger
money saving tip: your local Dollar Tree has certain things that cost upwards of $3.00 elsewhere.
And other things that are $1 that cost $0.50 elsewhere.
money saving tip: your local Dollar Tree has certain things that cost upwards of $3.00 elsewhere.
And other things that are $1 that cost $0.50 elsewhere.
Know the difference between want and need.
Our household is working on that one.
Our household is working on that one.
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