Saving Money

[TREY-L]

If done right you can spend a lot of time planning and never really have to do anything. I used to deal with an organization that studyed and planned everything to the finest point. After studying something for 4-5 years they would come up with a plan then decide that technology had changed so much since they started the study that they shouldn;t inplement the plan but should start another study. That I;m aware of they milked that for 12 years and never delivered a thing

So, was that with state or federal?............(Sound of snare drum)

Thank you...........I'll be here all night!

 

[dun]

If done right you can spend a lot of time planning and never really have to do anything. I used to deal with an organization that studyed and planned everything to the finest point. After studying something for 4-5 years they would come up with a plan then decide that technology had changed so much since they started the study that they shouldn;t inplement the plan but should start another study. That I;m aware of they milked that for 12 years and never delivered a thing

So, was that with state or federal?............(Sound of snare drum)

Thank you...........I'll be here all night!

Feds

 

[HerefordSire]

The best way I know to save money.....

Whenever you cash or deposit a payroll check, place 15% in another account and act like you cannot spend this money. If you have access to a 401K account through your employer, place it in this account as this amount will be deducted from your pre-tax amount. Otherwise, place as much money of this 15% as you can into a Keough or IRA account when the time is right according to the IRS. Each one of the accounts can be self-directed, meaning you can choose which investments the cash can be invested in inside the account. This allows tax-deferred investing and the money compounds much quicker over a period of time. This pool of tax deferred money should also be there if you have a family emergency.

 

[CattleHand]

The best way I know to save money.....

Whenever you cash or deposit a payroll check, place 15% in another account and act like you cannot spend this money. If you have access to a 401K account through your employer, place it in this account as this amount will be deducted from your pre-tax amount. Otherwise, place as much money of this 15% as you can into a Keough or IRA account when the time is right according to the IRS. Each one of the accounts can be self-directed, meaning you can choose which investments the cash can be invested in inside the account. This allows tax-deferred investing and the money compounds much quicker over a period of time. This pool of tax deferred money should also be there if you have a family emergency.

Dont forget to keep opening new accounts at competing banks and get those bonuses they offer like $50 when you open a savings account for 6 months. My dad seems to think its worth his time

 

[dyates]

The best way I know to save money.....

Whenever you cash or deposit a payroll check, place 15% in another account and act like you cannot spend this money. If you have access to a 401K account through your employer, place it in this account as this amount will be deducted from your pre-tax amount. Otherwise, place as much money of this 15% as you can into a Keough or IRA account when the time is right according to the IRS. Each one of the accounts can be self-directed, meaning you can choose which investments the cash can be invested in inside the account. This allows tax-deferred investing and the money compounds much quicker over a period of time. This pool of tax deferred money should also be there if you have a family emergency.

Should we do this before or after the economy stops spiraling out of control? My wife nagged me like crazy for not starting a 401k. Now the only thing left in her 401k is equal to her original contribution. Company match and all gain is basically gone. My current retirement fund is our house and land on which it resides. I don't feel so stupid. I am watching for the moment to begin following your plan, however. Hopefully, things will pick up in the not too distant future.

 

[HerefordSire]

The best way I know to save money.....

Whenever you cash or deposit a payroll check, place 15% in another account and act like you cannot spend this money. If you have access to a 401K account through your employer, place it in this account as this amount will be deducted from your pre-tax amount. Otherwise, place as much money of this 15% as you can into a Keough or IRA account when the time is right according to the IRS. Each one of the accounts can be self-directed, meaning you can choose which investments the cash can be invested in inside the account. This allows tax-deferred investing and the money compounds much quicker over a period of time. This pool of tax deferred money should also be there if you have a family emergency.

Dont forget to keep opening new accounts at competing banks and get those bonuses they offer like $50 when you open a savings account for 6 months. My dad seems to think its worth his time

I would think you would have to have a minimum deposit or length of time to keep your funds. Nothing is free unless there is no demand.

 

[HerefordSire]

The best way I know to save money.....

Whenever you cash or deposit a payroll check, place 15% in another account and act like you cannot spend this money. If you have access to a 401K account through your employer, place it in this account as this amount will be deducted from your pre-tax amount. Otherwise, place as much money of this 15% as you can into a Keough or IRA account when the time is right according to the IRS. Each one of the accounts can be self-directed, meaning you can choose which investments the cash can be invested in inside the account. This allows tax-deferred investing and the money compounds much quicker over a period of time. This pool of tax deferred money should also be there if you have a family emergency.

Should we do this before or after the economy stops spiraling out of control? My wife nagged me like crazy for not starting a 401k. Now the only thing left in her 401k is equal to her original contribution. Company match and all gain is basically gone. My current retirement fund is our house and land on which it resides. I don't feel so stupid. I am watching for the moment to begin following your plan, however. Hopefully, things will pick up in the not too distant future.

This should be a decision independent of the economy. If you think the economy is going downward, be more conservative in your investment decisions, such as money market funds, or something thay pays a fixed percentage return. If you think the economy is going upward, be more aggressive in your investment decisions, such as equities. You have the choice to change investment decisions as long as they are within the guidelines of the sponsor. Regardless of what decisions you make, your age risk appetite, etc. should be determined before manipulating your funds inside the tax deferred accounts.

 

[Alberta farmer]

I would say avoid debt as much as possible. If you are borrowing money it should be for a specific purpose...that will make you money, or save you money. For example if there is a really good sale on something you are going to need, then use that credit card to buy it...the kicker here is pay that credit card off before you have to start paying interest!
People need to be disciplined in their buying and use some common sense. How many people have got themselves in a big hole by using plastic or bank loans buying things they really couldn't afford, or need?
I have a guy that rents a house from me. He makes fairly good money in the oil patch but still has to rent at age 40? Last week he bought a $14K snowmobile on the old dollar down/dollar a month plan! I suspect he will still be renting when he is 65!

 

[Jogeephus]

While I know its not for everyone, a $20 pair of clippers can save you a great deal of money at the barber shop. (for those of you who wear the mullet, I'm sorry this tip doesn't apply to you)

 

[Wisteria Farms]

While I know its not for everyone, a $20 pair of clippers can save you a great deal of money at the barber shop. (for those of you who wear the mullet, I'm sorry this tip doesn't apply to you)

I've been cutting my hubby's hair ever since he wouldn't stop going to his old girlfriend (over 20 years ago) :lol2: Look at all the money we've saved!! We were getting all gussied up for a wedding and I was busy so he said "you know.. I think I'll go to Great Clips"... well, when she whipped out the clippers and started buzzing all over his head he FREAKED OUT....(I use scissors) :lol2:

 

[Santas and Duhram Reds]

Got the following at work today.

Homemade Dryer Sheets

2 cups of water

1 cup of vinegar

2/3 cups of any hair conditioner

Mix in spray bottle and stir. Don't shake, this will cause foaming. Soak a cloth rag and ring it out until slightly damp. Then throw it into the dryer with your load of clothes.

This can also be used as a liquid fabric softener in the rinse cycle.

I use dollar store conditioner so this mixture costs me just a bit over a dollar to make.. I've been able to get almost 50 loads out of one batch. I keep this stored in a tupperware container by my dryer with the rag already in it so all I have to do is squeeze and add it to the load in the dryer

 

[EAT BEEF]

While I know its not for everyone, a $20 pair of clippers can save you a great deal of money at the barber shop. (for those of you who wear the mullet, I'm sorry this tip doesn't apply to you)

My wife has been cutting my hair ever since we moved.She started doing it because the barber was never open,but it's saved us about $100 a year.She does an awful job,but she's the only one that ever gets to see me with out hat anyway.

 

[Santas and Duhram Reds]

Today they said that most auto insurance rates are cheaper when you pay them quarterly rather than monthly

 

[KenB]

Today they said that most auto insurance rates are cheaper when you pay them quarterly rather than monthly

Mine is even cheaper if paid annually.

 

[Calman]

Do your beer drinking at home.Cheap beer has the same effect as costly.
No bar tab,less fuel cost and adding mileage to your truck,and possibly save a big DUI.Possibly make family relations more smoother too.
And quit buying them loto tickets,you ain't gonna win anyhow.
If ya wont bottle water,just hold a bottle under the faucet.Same difference and less cost.
You don't need a new truck just because you wont one.So what if your neighbor got one.

Like someone already said it boils down to a ,just have to have,or is it really needed.
Of course the have to have stuff are more fun. Of this part I'm guilty as charged.

 

[TexasBred]

Do your beer drinking at home.Cheap beer has the same effect as costly.
No bar tab,less fuel cost and adding mileage to your truck,and possibly save a big DUI.Possibly make family relations more smoother too.
And quit buying them loto tickets,you ain't gonna win anyhow.
If ya wont bottle water,just hold a bottle under the faucet.Same difference and less cost.
You don't need a new truck just because you wont one.So what if your neighbor got one.

Like someone already said it boils down to a ,just have to have,or is it really needed.
Of course the have to have stuff are more fun. Of this part I'm guilty as charged.

ohhhhh....and that cheap beer will give you a two day hangover.....2 for 1 I guess is a money saver as well. :lol:

 

[TexasBred]

Cut and Pasted this from a website I just checked:


JimQ
HOW TO TAKE BACK YOUR LIFE FROM THE GOVERNMENT & FEDERAL RESERVE

Below is the list of ideas from my latest article to regain control of your life and not be a serf to Washington DC and Wall Street. Feel free to add more suggestions. It will help everyone. I've got one since I posted the article.

Buy 2 lbs of Maxwell House at Wal-Mart for $6 and make a pot of coffee every morning, instead of hitting Starbucks, Dunkin Donuts, or WaWa. This will save you $900 a year.

I'm sure there are thousands of good ideas. Let em rip.

Bring your lunch to work. Savings of $1,000 to $2,000 per year.
Stop buying things.
Keep your appliances until they stop working.
Realize that it isn't a competition with your neighbor to die with the most stuff.
Mow your own lawn. Better yet, if you have kids, make them do it.
Learn to embrace dandelions and crabgrass. Who cares?
Wash your car in the driveway. Better yet, if you have kids, make them do it.
Buy your next car and drive it for 10 years or 150,000 miles, whichever comes first.
Buy a car that gets at least 30 mpg, as $200 a barrel oil is a certainty in the next decade.
Tell your kids they are lucky to have whatever you give them.
When you walk into a room and the CNBC is on TV, switch immediately to When Animals Attack.
Don't answer the phone – it's someone asking for something.
Don't throw out your old sneakers – you can use them to cut the lawn.
Turn the heat down to 60 degrees at night.
Go to the poor man's Disney World, Wildwood, N.J. and save $4,000 for a weeks vacation.
Eat out once per month rather than three times a week and you'll magically save $3,000 to $4,000 per year.
Contribute into your 401k until it hurts. Picture yourself handing out yellow smiley stickers at the age of 80 in a Wal-Mart as motivation.
Buy some gold, just in case.
Plant a vegetable garden, just in case.
Instead of spending $40 at the movies, go for a hike in a National Park like Valley Forge.
Have a catch with your son.
Understand the motivation of anyone who is telling you anything. Most people have an angle.
When the guy in the Mercedes or BMW in front of you is wearing their hat sideways, your taxes are probably making their car loan payment.
When you see that same guy pushing a cart with a 52 inch HDTV out of Best Buy, your taxes are probably making the payment to Capital One.

 

[grannysoo]

Do your beer drinking at home.Cheap beer has the same effect as costly.
No bar tab,less fuel cost and adding mileage to your truck,and possibly save a big DUI.Possibly make family relations more smoother too.
And quit buying them loto tickets,you ain't gonna win anyhow.
If ya wont bottle water,just hold a bottle under the faucet.Same difference and less cost.
You don't need a new truck just because you wont one.So what if your neighbor got one.

Like someone already said it boils down to a ,just have to have,or is it really needed.
Of course the have to have stuff are more fun. Of this part I'm guilty as charged.

ohhhhh....and that cheap beer will give you a two day hangover.....2 for 1 I guess is a money saver as well. :lol:

You can buy a 40 of Cobra for 1.25 around these parts. If you survive the hangover from a couple of them, you'll want to quit drinking beer, therefore saving even more money. :lol2:

Some of the cheaper beers are ok, as long as it's not malt liquor or natural light.