Long for Frugality?...Give tips here

Coleman

New member
I have seen a couple responses from other members that made me think that having a "ways to frugality" thread would be a nice addition to TI.

During the COX vs. UVerse thread, I noticed that people have done away with the financial commitment to cable.  With new options such as HULU and Netflix, cable may not be necessary for some people.  So, for those without cable, what subscriptions do you have that allow you to watch a current TV series and movies?

I also notice people talking about how "Capital One's 1 cent per dollar is not as good as ...".  What are some good credit card offers out there now?  I typically use the AMEX for 3% gas, 2% restaurants, and 1% elsewhere.


Any other tips that you've learned to cut costs?  Eat at Buffalo Wild Wings only on Tuesdays? haha

 
Money-saving tips:

- Don't eat on Mondays.
- Bathe once a week.
- Steal ketchup packets from a fast food joint. Squeeze them into your Heinz container for a free refill.
- Use shoe boxes as your shoes.
- Pee on the lawn. Not only have you saved a flush, but the sprinklers as well.
- Re-use chewed gum.
- Wrap Christmas gifts in newspaper.
- When your house needs new carpet, skin a bunch of cats and stitch the hides together.
- Make stew with the meat.
... to be continued...
 
SoCal said:
Money-saving tips:

- Pee on the lawn. Not only have you saved a flush, but the sprinklers as well.

I think pee kills grass.  At least that is what it looks like happens when people's dogs use the backyard as an area of "release".

Will people still laugh if I use the shoe boxes of Homer's $600 loafers as shoes?  :eek:
 
Coleman said:
Will people still laugh if I use the shoe boxes of Homer's $600 loafers as shoes?  :eek:

The box has the logo. That's all that matters to some people. You'll be good.
 
No Quarter said:
what are you talking about here?  meaning what i consider "normal" behavior or what extreme measures folks will go to in order to save a buck?

Not anything too extreme that you would see on a TV show, haha.  I am not talking about washing and drying paper towels.

@SoCal - now the problem is that he only gets on shoe box per shoe.  Therefore, I would have to get two of his boxes and unless he sticks to one designer I may have to have mismatching designer labels.  :-\ 
 
No Quarter said:
what are you talking about here?  meaning what i consider "normal" behavior or what extreme measures folks will go to in order to save a buck?

It would be nice if we kept it to behavior that didn't border on OCD.  And by OCD, I mean the extreme frugality that is off washing the zip-close sandwich bags to reuse, which if you pick up on sale and get the store brand comes to about 1 cent per bag.

Some things to consider.  Being a library member allows you to check e-books out for your kindle.

If you only watch one show on HBO, such as Game of Thrones, then Amazon instant video is a cheaper way to get it at about $50/season versus $14/month.

I also find the ethnic markets tend to run much better sales on fresh produce.  It can't sit on the counter as long so that's a trade off.    I'm still building a thought list of which days have the main sales, I know superior does big sale promos on Wed/Thurs.

If you're calling for reservations and there are no deals that you saw online, ask for one.  Any one.  Make something up, "are there any promos for middle age bald guys?" anything halfway humorous will get the person to look to see what promo they can give you.  And be sure to say thank you. It really does work wonders.


 
Here's some tips in no particular order:


A) Don't pay any interest except for cars + houses and even try to minimize that. (Buy new cars at 0% interest or get a low mortgage rate on a house). If you have savings and debt, use the savings to pay off the debt.

B) Don't pay any bank fees, late charges, fines, etc. Call and fight any large charges. Most companies give in easily.

C) Use rewards credit cards for most purchases. I use the capital one venture card for 2% back (double miles) and the Costco AMEX card for 3% back on gas. I use ralph rewards to get $0.20 off per gallon as Shell.

D) Focus on your monthly expenses. $10/mo for 5 years adds up $600 (I heard someone bragging about paying $15/mo in phone insurance). While a one-time purchase of $200 is a third the amount if the item lasts for 5 years. Shop around for your monthly expenses. I save 10% on my AT&T wireless bill through an affiliation with my university. It's not a lot but it adds up over time.

E) Don't make quick decisions on large purchases. I was able to get a minivan for $5500 less than people leasing comparable vans online with patience, research and negotiation. Even on little items - I was able to save $40 on a bike by looking at prices online while at Toys R Us and buying it at Target instead.

F) Use slickdeals.net - if you are willing to buy items / gifts when they are on sale rather than when it strikes your fancy, you can save a lot.

G) Insurance: Make sure you have only the coverage you need. Consider paying $50-100/mo into your own rainy day fund and raising your deductibles on all of your insurance. Frequently shop for insurance rates.

H) Use a personal finance program like Mint or Quicken to know exactly where your money is going. Set a budget (sometimes minimum and sometimes maximum) for your discretionary spending. Do an annual budget as well. It really helps put things in perspective. I can pay for a new TV this year (and another thing next year) for $720 if I can save $20/mo on 3 things. We only pay $20/mo for LA Fitness for instance by prepaying 3 years.

I) Use coupons. Many of the grocery store coupons are a waste of time because you save $0.25 buying sometimes you don't need. But coupons that are $20 off $50 at Macy's are a great savings. Even target and ralphs will have coupons off an entire purchase sometimes. I bought a car seat at Target for 30% off by stacking a sale and a 20% off coupon.

J) Look for special offers. I got $1,100 from signing my wife and I up a credit card last year and $150 for opening a checking account. I got $300 from Uverse for switching and $75 from Terminix for a referral. This is mostly tax free money.

K) Buy in a bulk. When items don't expire, don't let being short on cash drive your decision making.

L) Make some extra money here and there. Sell your old phones and other items on eBay. Take up an "odd" job. I make quite a bit every month doing consulting on the side. I also try to do things around the house myself so that I'm "paying" myself tax free.
 
My other tip is to use Quicken, Mint or MS Money.  After you log about 3 months of expenses, you start to see where the small money is adding up.  After half year you see most of the big hits.

If you shop a lot at target, get the Target card and take 5% off immediately on everything.  Unless you've got a card that's given you more than 5%.

Next up, really analyse your phone bill.  Then figure out how much data on your phone you're really using.  If you can switch to a prepaid or monthly plan.  If you have kids and parents, then bundle up to a family plan. 

For your cable, satellite, phone bill, call every six to twelve months and complain or threaten to switch carriers and get an additional extension of the promo deals they offer. 

Convenience is expensive, ironically, some things like the deli rotisserie chicken is actually cheaper than trying to buy a chicken unless it's on a really deep sale.

Also, if you haven't signed up for the email clubs from the restaurants and stores you frequent regularly, you're throwing away 10-20%.  They regularly send coupons for 10-30% off. 

Of course, eating in is much more frugal than out, but take the extra savings for when you do eat out.
 
nosuchreality said:
It would be nice if we kept it to behavior that didn't border on OCD.  And by OCD, I mean the extreme frugality that is off washing the zip-close sandwich bags to reuse, which if you pick up on sale and get the store brand comes to about 1 cent per bag.
That would be my father.  And not just ziplock bags...anything that could possibly have some iota of value at any point in the future.  It's not an emotional attachment, so I'm not talking an episode of "Hoarders" or anything.  But both my parents grew up in very hard times in the echo of the Great Depression and they have habits they developed early on that are sometimes maddening.  I once asked my father if he had any nails as I wanted to do some minor work on their house.  After digging around in his workshop for 10 minutes, he hands me, with a straight face and without seeing any issues, an old glass baby food jar filled with bent nails.  Yes, they were nails he had removed at some point in his life, and I'm fairly sure the jar was one that I had eaten out of nearly 4 decades prior.  I was frustrated and disappointed, and dumped the nails in the trash.  I went  downstairs to look for some nails I could use, and when I returned, I found him picking through the trash, filling up his nail jar.  ::)

The rules I have followed that have worked for me:
1)  Marry someone who shares your goals
2)  Brown bag it and don't eat out very often
3)  Live close to work
4)  Pay yourself first (set a monthly savings goal and make it your #1 priority)
5)  Make a habit of updating and reviewing family financial statements once a month, including reviewing every expense
6)  For the new hires I meet at work:  Live at home for a little while if your parents will let you, and SAVE
 
daedalus said:
3)  Live close to work
+1

I know I talk about this but the convenience and what it cost in time is unmeasurable. Whether it's being able to pick up or drop off kids, go to doctor/dentist appointments, eat lunch at home, schedule home contractor appointments during the day, forget something at home... it really helps to live near your work.
 
irvinehomeowner said:
daedalus said:
3)  Live close to work
+1

I know I talk about this but the convenience and what it cost in time is unmeasurable. Whether it's being able to pick up or drop off kids, go to doctor/dentist appointments, eat lunch at home, schedule home contractor appointments during the day, forget something at home... it really helps to live near your work.

+2

I live and work in Irvine and it really does help a lot. The cost of housing here is obviously a lot more than Corona for instance but time is the most valuable thing and there is no way I'd want to give up 2-3hrs a day commuting from Corona to Irvine and back even if Corona was a great place to live. Heck - I wouldn't want to commute from Beverly Hills to Irvine.

I also see my kids for lunch twice a week.
 
yeah my grandparents grew up in rough times too and they became the extremes of each other... my grandfather changes his car every 3 years, eats out all the time at very fancy places, n in general splurges as much as he can while my grandmother is borderline hoarder, refuses to eat out, and is a reuser of anything that can remotely be reused... its wierd cause they get angry at each others spending habits... haha but i guess they balance out each other

i personally save because im scared as heck that ill be "stuck" in middle class because i want way more financial freedom then what middle class can provide me (yeah i know... its a first world problem =_=)... so to me what matters more is what savings:income ratio i have every month... that truly tells me if my standard of living is above or below what i can afford and that dictates my spending habits way more then anything else
 
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