Ways to Save Money & Live Frugally

My first house was bought from savings that I accumulated through work (no inheritance or anything). The second house was bought from the proceeds of the first. Neither had a mortgage, ever. Yes, it can be done.

Is this the best plan? For most, maybe not, it is probably best to buy the first house with a mortgage to get out of renting, then pay off quickly. From that point on, no mortgage.

 

If any of you are old enough for AARP, I would really look into them. When we got our truck, the last company we were with doubled our payments. What we pay going through AARP for the exact same coverage for a year would only cover 2 month for the old company.

 

I see a long commute as even more reason to go cheap on the vehicle. The value is gonna get driven into the ground with all those miles. I drive 80 miles a day with cheap cars.

 

Yeah, as far as I am concerned they are just another PAC of which politics I don't want to pay them for.

 

I've gone cheap and ended up paying massive repair bills that cost as much per year as if I had car payments. I can't do the work myself and the warrantees should keep me from those massive bills.

Nothing wrong with the way you do it. I just know I've tried it and really did not come out ahead. 2 years of payments is nothing that I'm worried about.

 

Ditto

 

The book The Millionaire next door is an easy read. The author studied the habits of self made wealthy. Had some interesting things he learned while doing his research.

Had a meeting with several for a group interview. Laid out a spread of finger sandwiches, caviar, and similar stuff. None of those millionaires had any idea what most of that stuff was and didn’t touch it.

After the meeting, he called to the stockbroker firm in the building and said their was free food. All the pretenders came over and wolfed it down. Lifestyles of what the wealthy do, in their minds.

Next meeting he laid out regular sandwiches and every day food and the wealthy folks dug in.

A lot of great examples were laid out n the book. Jack Straw made a good point- stay married. The book said the best odds to building wealth, is marrying a Scottish woman. I married a McDaniel and we have done okay. Second most likely is to marry a a Russian woman. Man, something about that scares me. Couldn’t deal with a Russian I don’t think.

I choose to wear suits a lot at work. I get them used of EBay. A nice brand one can be had for around 35% of its new cost, with the search filters you can select coat size, waist and inseam on the pants and get what you want without having alterations when it arrives.

Bought a brand new car twice in my life. Wife has had only a couple new. My present truck was bought new, but through a program with Chrysler were public safety can buy at the same government rate as the department they work for. Couldn’t have bought a good used truck.

One thing I hate to spend on is vacations. My wife enjoys them, and never complains about my purchases of guns, old car stuff etc. but I hate the idea of spending money that is gone in a week with nothing to show for it, but another memory of how much I hate airlines.

My wood related expenses? I always know they items I get, are a direct return on investment, because with the total electric house, the return is thousands annually. Don’t look at your stove as “when do I get the money back out of it?”. Look at it as, if I spent X on the furnace or stove, what will I save the first year, and so on? My 10,000 dollar furnace saved me about 2500 the first year, and much more each year after. No certificate of deposit or bond will have that return.

 

When I was working and commuting over 100 daily, I too would buy a vehicle made for mileage (of course). I learned early that the trick was to buy a vehicle that has saturated the market with ownership....that way the parts are less expensive since the law of supply and demand still holds true for some things.

 

Most people cannot grasp what you just said.

 

You have to be careful with "never borrow money".
If you take 10K you could make 3-10% with to buy a car "cash" that you could get a loan for 2.5 % for, you borrow the money.
Markets and times change.
But the rule of need not want applies to many things.
I consider High fructose corn syrup a poison ( along with sugar in general ) that removing as much as possible from my diet just might get me 5 more years tacked onto my life . Maybe more. Trying to have no American gut. I want to collect every penny I paid into Social Security. Plus some.

 

That's one of of the bigger reasons why my wife and I try to live a more frugal lifestyle so that we can take vacations with the kids and see this great country and make memories of a lifetime that my family and I will never forget. Not talking lavish vacations I am talking wholesome down to earth seeing America's beauty vacations and actually learning a thing or two. To me that is irreplaceable! Some of the best times as a kid was driving in the car with my parents to some great historical places! Sometimes it was boring in the car, but looking back some of the best talks and conversations ever!!

Although ever since my folks retired and bought into the Disney Vacation Club, I fear my kids have become spoiled in that regard, I need to reign them back into reality and get back to some good ole fashioned American vacations!

 

It's important to get out and see the world. There are ways to even do this somewhat frugally.

 

Talking with folks my age absolutely put traveling by car and seeing America is almost a thing of the past. Kids n spirts and “travel teams” just sucks away that chance. I suspect family cabins get a lot less use nowadays too. The idea of spur of the moment weekend getaway for families is dying. Entire Summer calendar pencilled in like a space mission.

 

I have made my share of foolish mistakes in terms of financial decisions, but have learned to "buy once, cry once." In other words don't be penny wise and pound foolish when buying.

Never buy cheap tires for any vehicle, or skimp on routine maintenance. Only using high quality lubricants or parts when needed. Get vehicles undercoated in winter road salt-belt areas, inspect it, and touch it up as needed. These items pay big dividends over the long haul.

I think it is very important to pay yourself first by saving monthly in a diversified plan with stocks, bonds, and cash equivalents. It is hard to save money by living so frugally that you have no funds for things that may come up versus going into debt.

 

Finally used up all the dog food.
4.5 months

 

I never liked buying (too many) huge bags of dog food because they would go sour. But that may have been the kind of dog food we were buying. Labs would eat anything though you'd just have to live with it coming back out either end at mis-opportune times. Course, some people do the same. LOL