Tips and tricks to make great saving
- Thread starter Audren
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It's obvious Audren. In fact, we all have to make great efforts but as far as I'm concerned I always use techniques from my mother who is a professional in that field, heating, electricity, water bills decreased thanks to her practical and effective's tips.
Rafter S
Well-known member
Not everyone will agree, but the best financial advice I can give is to stay away from credit cards and borrowing money. If you can't pay cash do without.
Dollar bill savings plan. Never spend a dollar bill. Go into a store and buy a candybar with a $5, you get 3 dollar bills and some change back. Spend the change, put the dollar bills in your other pocket. Empty them into a can or jar when you get home.
This does a couple of things. 1. You control your spending because everything you buy costs at least 5 dollars. 2. It forces you to save.
I don't do this anymore, but we vacationed on it a few years ago.
This does a couple of things. 1. You control your spending because everything you buy costs at least 5 dollars. 2. It forces you to save.
I don't do this anymore, but we vacationed on it a few years ago.
Caustic Burno
Well-known member
Rafter S":2qxixydt said:
Amen brother preach on.
TexasBred
Well-known member
Banks are like lawyers.....worthless until you need one and for most people there will come a time when you do "need" one. (Notice I said need)Rafter S":1cqiyqce said:
denvermartinfarms
Well-known member
Credit cards are one of the worst financial products there are. But saying you should never borrow money and not to ever buy anything you can't pay cash for is crazy. It applies very good in some cases, but that's not good one size fits all advice.
A
Anonymous
This x 10000Rafter S":17ful457 said:
A
Anonymous
denvermartinfarms":53ehd9oi said:
Problem is people are too quick to borrow more for bigger badder better when smaller,practical,better will work. Some things are worth borrowing for. Credit cards arent one of them
Ryder
Well-known member
A lot of people think that if they can "make the payments" they can afford to buy it. No they can't.
Was talking to a young lady a couple of nights ago in a store. She is a part time student and works. It is going to take her a lot longer to finish college because she has to work more to pay for her NEW car.
I didn't say anything. Guess she will learn the hard way. Or maybe she will not learn.
Was talking to a young lady a couple of nights ago in a store. She is a part time student and works. It is going to take her a lot longer to finish college because she has to work more to pay for her NEW car.
I didn't say anything. Guess she will learn the hard way. Or maybe she will not learn.
Everyone has his own point of view. In fact, what is to be avoided is "debt". Talking about bills Gwenaelle, it would be appreciated if you could share your mother tips. Many of us would probably want to save on all our bills.
Rafter S
Well-known member
TexasBred":270vwwg6 said:
Maybe, but a lot of people out there don't understand the difference between need and want.
Hondac
Well-known member
I know of a local school teacher that leased an import car. 36 month lease will end up costing just under $30,000 plus insurance, fuel, etc. No wonder the kids are growing up like this when their teacher probably instills this way of thinking into them.
TexasBred
Well-known member
Absolutely.....but too many can eventually rationalize and justify going into debt for about anything. Learning to use debt to make money is a talent used by many successful people.Rafter S":36c8tu4n said:
greybeard
Well-known member
No! Most fortunes are NOT made by going into debt. Most are made by getting other people to put up THEIR $$
to make someone else's fortune. Investing. The investor(s) carries the risk, and does generally stand to make a good tho smaller return over the long haul but the guy(s) at the top make most of the money--simply by using other people's money, at no risk to themselves without ever actually borrowing a dime.
Millions of Americans did quite well (our grandfathers and fathers) simply by saving and waiting till they could pay cash for the things they wanted and needed. It's only in the last 2-3 decades that debt has become the norm and acceptable way of doing things. That, also means the guy(s) at the top make most of the $$.
The best advise ever given parent to offspring:
Neither a borrower nor a lender be;
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.
This above all: to thine own self be true,
And it must follow, as the night the day,
Thou canst not then be false to any man.
Nowadays, mostly forgotten or unheeded.
Rationalize: to think about or describe something (such as bad behavior) in a way that explains it and makes it seem proper, more attractive, etc.
to make someone else's fortune. Investing. The investor(s) carries the risk, and does generally stand to make a good tho smaller return over the long haul but the guy(s) at the top make most of the money--simply by using other people's money, at no risk to themselves without ever actually borrowing a dime.
Millions of Americans did quite well (our grandfathers and fathers) simply by saving and waiting till they could pay cash for the things they wanted and needed. It's only in the last 2-3 decades that debt has become the norm and acceptable way of doing things. That, also means the guy(s) at the top make most of the $$.
The best advise ever given parent to offspring:
Neither a borrower nor a lender be;
For loan oft loses both itself and friend,
And borrowing dulls the edge of husbandry.
This above all: to thine own self be true,
And it must follow, as the night the day,
Thou canst not then be false to any man.
Nowadays, mostly forgotten or unheeded.
Rationalize: to think about or describe something (such as bad behavior) in a way that explains it and makes it seem proper, more attractive, etc.
gimpyrancher
Well-known member
We both buy the same house for $100,000.
I pay cash. You buy on credit.
How much did we both pay for the house?
/\/\/\/\/\/\
Writing off your house interest is a worth while benefit?
Example:
You pay $1000 per month in interest. You're in a 25% tax bracket. You pay $12,000 per year in interest. You save $3000 in taxes.
I pay no interest. It appears to me that I get to keep $9,000 that you had to spend.
I pay cash. You buy on credit.
How much did we both pay for the house?
/\/\/\/\/\/\
Writing off your house interest is a worth while benefit?
Example:
You pay $1000 per month in interest. You're in a 25% tax bracket. You pay $12,000 per year in interest. You save $3000 in taxes.
I pay no interest. It appears to me that I get to keep $9,000 that you had to spend.
TexasBred
Well-known member
gimpyrancher":2bx70ww5 said:
On a house that would be true but most 1st time home buyers can't pay cash so borrowing to own is still better than rent. Now borrow that same hundred grand and if you know what you're doing you can easily make much more than the twelve grand (sometimes almost overnight) and still have money left to pay any tax liability.
gimpyrancher
Well-known member
Texas,
> Now borrow that same hundred grand and if you know what you're doing you can easily make much more than the twelve grand (sometimes almost overnight) and still have money left to pay any tax liability.
Yup. If you know what you're doing and have the "extra" money to gamble with. What is the percentage of Americans that "could" do that? That is also how many eventually lost everything over the last decade. Investing in high risk investments and or real estate. The rich can afford to make high risk investments. Most of us can't.
> Now borrow that same hundred grand and if you know what you're doing you can easily make much more than the twelve grand (sometimes almost overnight) and still have money left to pay any tax liability.
Yup. If you know what you're doing and have the "extra" money to gamble with. What is the percentage of Americans that "could" do that? That is also how many eventually lost everything over the last decade. Investing in high risk investments and or real estate. The rich can afford to make high risk investments. Most of us can't.
machslammer
Well-known member
CC usage not necessarily a bad thing if you know what your doing with them. Me and my wife use our chase freedom card instead of our debit card, write it down as though it already came out of our account, and then pay it off at the end of every month. Get a dollar for every ten we spend and then have them send me a check every christmas for the amount. Good Christmas fund.. You just have to know how to use them wisely.
