Trying to save Money on Gas Bill/Dumb Question
Mrs. S
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Stax
last yearA Mat
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Anybody else have to juggle bills with trying to save
Comments (12)In managing most businesses, if the manager doesn't pay the employees, they don't continue coming to work very long. Each of us above being a toddler has a business that we run on the side. Nice part is, our employees don't charge for their work. As a matter of fact, they pay us! Each of those employees is called a Dollar (if you're in the U.S., it's a Bill; in Canada, a Coin, which we call a "Loonie"). If a kid sends that dollar out to buy ice cream it works for him/her once - and s/he can enjoy the "fruits" of the employee's work. Same for Mom and Dad regarding food, rent, clothing (unless they live in a much warmer climate than in this area - Buffalo had over a foot of snow, yesterday!). For many people in this part of the world, a car is pretty well in the category of "necessity", as well, as we have pretty well organized society around the car: many built-up areas no longer have sidewalks. If one finds ways to hang on to some of those dollars, they'll work for that person as long as s/he hangs on to them, with one exception - if they stick them into the mattress. Banks like to tout their guarantee that when we leave money with them, they'll pay rent on it, and guarantee to pay back every dollar that we lent them. They never mention the other guarantee - that, apart from the rent on the loan, they won't pay us one dollar more, either. But, there's a problem: I say that, when we invest our dollars where we are guaranteed to get each back, that their number can't grow, either. And the value of each declines each year that we own it. I say that there's two rats that eat your cheese: the income tax people want to talk to you each year about all of your earnings in that year. And they want some of it, of course. In Canada, they quite different rates of tax on varying kinds of income. If, apart from the rent, the number of your invested dollars can't grow, you need to add some of those invested dollars to the asset each year so that your purchasing poweer doesn't shrink as the value of each of those dollars of your asset shrinks. That rat's called "inflation" and it has eroded the value of each of your saved dollars every year - since the 1930s. With the rates of interest that borrowers are willing to pay these days, when we take out some for tax, and more to add to the saved dollars, each of which will buy less each year, often times there isn't any left. Know what? The rats eat first! If there's any left, you get that. Recently, there's none left. Imagine - the bank (as borrower) makes more on your money than you do, quite a bit of the time! As a matter of fact, every borrower, whether bank, corporation or individual figures that s/he can make more on the borrowed money than it costs him/her ... or they wouldn't borrow, would they? Suppose you'd put $10,000. into the bank 15 years ago, on a 5-year certificate, and renewed it twice since. Now, when you receive that money (apart from the rent) they'll pay you precisely what they borrowed - $10,000. That $10,000. would have bought a decent car, 15 years ago. Not now: inflation cut its value substantially through those years. Did inflation hurt the bank? No, they rented that money out to someone else (actually, usually about 8 "someone"s), at a higher fee than they paid you. Suppose I borrowed that $10,000., 15 years ago, agreeing to pay the bank the interest only monthly, and did that. How much would I owe the bank now? Right - exactly $10,000.00. Which will buy a great deal less now than it would then. So I gained from inflation: the guy who put his money into the bank lost ... unless the interest covered it. Farmers like to stick one seed into the ground and have it grow into an ear of corn (maybe even a couple of ears). Similarly, I like to invest a substantial portion of my assets into situations where I expect them to grow, given a number of years - and mine go back varying lenths of time to about 40 years. Some grew nicely ... and several paid increasing amounts on the investment over the years. However, I haven't had to answer to the income tax people about that increase in value ... and won't, until I sell them (or die). Which gives me much of the benefit of the tax-deferral in the tax-deferred retirement accounts (but with far fewer restrictions). And when I cash them, I pay tax on the increase at half regular rate. Some didn't pay anything, or sporadically. Some of those assets grew in value, more than enough to cover the ongoing returns that they hadn't paid (and on which I'd have had to pay tax at the time). Some didn't pay ... and went down in value, into the bargain. As a wise person said, "You can't win 'em all!". An investment group of about 25 that has met monthly for around ten years, that I've attended for six or seven, calls those latter experiences "tuition". In the school of learning how to manage money more effectively. When did you last merit a free luch? Good wishes for learning how to make your income and assets work better for you than for the other guys. ole joyful P.S. Actually, many of us get a "free lunch" here at Gardenweb, and various other places - for we've learned a lot, and it hasn't cost us anything but time, and internet fees, that we pay anyway. Actually, a while ago, it cost the guys giving the advice - for one could read for free ... but the owners charged a fee for one to open his (her?) big fat yap. Quite an imposition for us former clergy! Wouldn't you agree? o j...See MoreDH is money dumb
Comments (31)Sus905, With Joe's antecedents appearing to be as they are, and it's probably been a few years since his birth, I think his pedigree is "mutt". Gina in FL, I am sorry if you feel personally offended by my viewpoints. I grew up on a farm where in the early years we had no pressure water system, which meant of course, no flush toilet. After we got pressured water there was no hot water heater - we had a wood/coal-fired range that had a tank on the back where we heated water for bathing, washing, etc. Later we moved to the prairies where we had no electricity and collected (scarce) water from the roof for washing and had to bring water from elsewhere for drinking, cooking, etc. for a couple of years till Dad bought his own farm, by which time I was away to University. I spent several years helping a few of hundreds of thousands of refugees get their lives back in some semblance or order after the terrible Korean War. Even ordinary citizens there, apart from refugees, had to save for years to afford a bicycle. Millions have been uprooted from familiar surroundings, made homeless, etc. since that time. No home, almost no food, no education available for their kids (and they couldn't afford to pay the fees, anyway) and no medical services available. In earlier years we felt that those wide oceans insulated us from those serious problems in the world. Not any more. We can ignore those issues if we please - but they will not go away. They'll just get worse. And - believe me - they will impact us. Increasingly so. I prefer to deal with them now, at a time and place of my choosing. And encourage others to do so, as well. Or - my grandkids will have to deal with them later. Quite possibly not at a time and place of their choosing. We can tell others not to stand up in their canoe, or they may tip it over and drown. This world is one small, fragile canoe. We occupy it with them. If we screw up much more than we have already - we may destroy ourselves. Some of the other species inhabiting the earth might say that would be a good thing - that man has destroyed a great deal of this precious world, and the only way that they can survive is ... ... if mankind departs. If I saw that your house was on fire, came to your front door and suggested that we have a game of bridge ... ... how much respect would you have for me, when you learned the truth? When I leave this world, in a few years (or maybe tomorrow?) and arrive at the Great Gate ... ... I think that my Heavenly Parent will have some things to say to me about my heedless greed that I will not want to hear. After all, S/He loves the faceless millions in other parts of the world as much as S/He loves me. As I said above - I am sorry if you feel personally offended by my expression of my understnding of the realities that we face in this old world. Good wishes to you and yours, (still) joyful guy...See More28 Tips To Save Money
Comments (5)On #s 15 & 16, I think it's important to point out that often the alternative to refi and the like is simply pay down the principle! Especially if you're early in the mortgage, every nickel you pay toward the principle means the balance of the loan's interest on that nickel goes into your pocket. Ol' Joyful, I'll need some of your expertise here, but could you figure a rough calculation of an average type house loan, average refi costs applied to the current loan and how that would compare in the end? I think it'd be interesting. Also, said before, but often people think they "need" a new car and don't consider if they put some money into the old one, it'd save in the long run. Remember, new cars have higher insurance and license costs so there's more than the initial price to consider. I would take a bit of issue too with the convenience store avoidance. You could actually save money if wise. Often, convenience stores sell eggs, milk, bread etc at very low prices, often far less than the markets. Plus it's not a special trip, saves time plus there can be (tho not guaranteed - it's up to you) fewer impulse buys. The longer you're in the grocery store, stats say you'll spend more. Again, it's how savvy you are, but be careful. #18 (Shudder) Buyer's Brokers are seldom a good thing. Let's face facts, no real estate agent/realtor or the like works FOR the buyer! Who pays them? The seller. How do they get paid more? By "benefitting" the seller. There's no way the buyer benefits from realtors. The fewer the better in most cases. Why? Because you can often negotiate the realtor fees. If you have one realtor taking the entire commission, it's far easier to negotiate them down than to negotiate with multiple agents and try to negotiate down when they're getting 1/4 or less of the commission. Beware of this statement and check into these claims. You're far better off to have a good real estate attorney on your side. S/He'll be working for YOUR benefit. Mine found problems in the paperwork and embarrassed the daylights out of the stack of realtors, closers and the like at my closing! It was hilarious! Now as for the inspector, yes, that can be worthwhile, but don't use one recommended by the realtor (kickbacks) and make sure you know what they're inspecting, their qualifications and the like. A good alternative can be a trusted friend with qualifications. Hire like any professional. Realize, though, that the inspectors DO NOT GUARANTEE the house! So if they overlook something, it's not their fault or responsibility and they won't be doing anything for you so know what you're getting. A title examination, especially of abstract properties, can be very important especially if you don't know how to read an abstract. Torrens is less problematic. Buying a home brings up a pandora's box of potential problems and far too many to go into here, but there's some things to be careful of. #21 Consumer Reports is a pet peeve of mine. They're often very biased in their reporting. Plus, keep in mind that they do not "test" ALL models and versions, even of similar products! Do you realize that the washer you buy at Home Depot is different than the one you buy at Best Buy and they're both different than the one you buy from a mom-n-pop dealer? That can have significant differences in the specs and needs. One can have cycles and features the other doesn't. Don't get caught up in the CR myth. Read their magazine with a shaker full of salt and do far more research than CR. You'll be doing yourself a favor. That's enough for now. There's more opinions coming, I'm sure! :) Happy saving all! Enjoy the frugal season!...See MoreSaving Time so You Can Save Money
Comments (11)I'm not sure I'll be much help on this subject since I'm just now decluttering and reorganizing my home. Here's a few little things I'm doing: Since I don't have a regular pantry (I'm going to make one somewhere, someday--lol) I keep all breakfast items in one drawer, like instant oatmeal, grits, hot chocolate, etc. So, I know in a glance what I need and don't buy extras. I just tear off the top of the pkg. and set the whole thing in the drawer. I also keep my ironing supplies on one drawer---irons, spray starch, etc. I actually had to buy a second iron because I couldn't find the first one---before I organized! I took all on my junky paper and cut it into note size, put it in my desk drawer. If I have pretty junky mail, or envelopes, I cut them up to use as gift tags or small note cards. I hate frying bacon, so I bake it now on a rack. It's healthier and I don't have to spend so much time at the stove. I actually baked a pkg. this morning, used it all at once---now, we have bacon for tomorrow. I don't have very many closets, so I'm using decorative tins and hatboxes (I went thru a hatbox-making phase a few years back) for storage of sewing and craft supplies, and anything else that I can't find a place for!!! LOL These things hold a lot, so I may not have to buy any shelves. In my foyer area, I have a narrow table with a mirrow above it. I just cleaned out that drawer in the table----I have a place for car keys (his & hers), gloves, hairbrush, and glasses. Since I wash my hands a zillion times a day, I keep either an old dish detergent bottle or shampoo bottle with soap, water (*and now hand lotion or baby oil mixed in) under the sink to wash hands with. I just saw a Dr. on Tv say that if you wash your hands too much and they're dried out, germs can enter your body thru the cracked dry skin EASIER!! They were talking about the flu viruses. He actually said that rubbing your hands back and forth, creating friction, would kill germs on your hands!! Rub your hands, rub your hands!!!!!!...See Moreareyano_cs
last yearMrs. S
last yearlast modified: last yearA Mat
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last yearElmer J Fudd
last yearMrs. S
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last yearMrs. S
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