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Post by Voxxkowalski on May 17, 2016 16:01:31 GMT -5
When Im on a grocery budget and I agree to do the shopping for my bride...I set my caculator to the total budget and start subtracting...instead of adding from zero as I procure. That way you can see how much you have left on budget and can prioritise as the total decreases...so if youve got say 3.00 left...and still on your list is milk or ziploc bags...you skip the bags (or if the bags are uber needed for some reason the reverse) Does that make sense?
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Greg
Junior Member
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Post by Greg on May 17, 2016 16:53:32 GMT -5
My son's birthday today and I bought pork belly for half the price of roast beef. Fed 11 people for $30 of meat. Approximately 15lb rack of ribs and belly.
Slow cooked over 3 hours in the oven then threw it on the barbecue on a burned down wood fire (glowing coals but no flame), sweet chestnut wood, started maybe 45 mins before. I live next to a forest so fallen small chestnut trees and branches are plentiful.
Tasted much better than roast beef, everyone enjoyed it. I'll do that again.
Generally speaking however I don't focus on saving money too much as I'm far better off putting the effort into earning more. There are lots of ways to earn money in a first world economy.
I drive second hand cars, fly economy (but always direct never connecting if possible) and avoid as much income tax as possible and I almost never call a repair man for anything. Double glazing repair and fitting lead to the roof being two notable exceptions. I get cashback on a credit card and do everything I legally can to reduce my tax bill. My kids don't get pocket money. Instead they get free stuff on FaceBay or stuff we no longer need around the house and ebay it. I let them keep all the funds less 10%. 13 year old daughter just financed a $1500 ski trip to Italy over Easter hols.
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Post by Voxxkowalski on May 17, 2016 17:01:04 GMT -5
greg Ive never understood the benefit of "cash back" on credit...isnt it just money that your paying or paid interest on? And is it taxable?
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Greg
Junior Member
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Post by Greg on May 17, 2016 17:05:36 GMT -5
No, because I pay my card in full every month.
So it is literally cash back. I spend around $60,000 per year on the card so get $600-$900 for simply not using cash or a debit card.
The card has no fee.
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Post by jen51 on May 17, 2016 17:21:30 GMT -5
No, because I pay my card in full every month. So it is literally cash back. I spend around $60,000 per year on the card so get $600-$900 for simply not using cash or a debit card. The card has no fee. This is something that people often forget about, and the cash goes unclaimed. My husband did that for years! |
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Post by Clotilde on May 17, 2016 17:48:32 GMT -5
No, because I pay my card in full every month. So it is literally cash back. I spend around $60,000 per year on the card so get $600-$900 for simply not using cash or a debit card. The card has no fee. Same here. |
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Post by Voxxkowalski on May 17, 2016 21:02:49 GMT -5
But isnt the money coming out of your end?
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Post by Clotilde on May 17, 2016 21:16:06 GMT -5
But isnt the money coming out of your end? Not mine but for example, I have one card that I put utility bills, monthly stuff, etc. on and it earns me rewards on stuff I'd pay for with a check anyways. |
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Greg
Junior Member
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Post by Greg on May 18, 2016 9:02:31 GMT -5
But isnt the money coming out of your end? No, how could it be ? I buy something for $20, the same $20 you would pay cash for. At the end of the month I pay the $20 to the credit card company. I get 20 cents back. So far this year they have paid me $300. I have a big building job coming up where I will put at least $8000 on my card next month in building materials alone. Think of all the parts and materials you have bought for construction over the years. Imagine getting 1% of that back. Not life changing, but welcome nevertheless. |
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Post by Voxxkowalski on May 18, 2016 11:03:02 GMT -5
Im glad I finally got this understood...of course it all hinges on paying on time
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Post by Voxxkowalski on May 18, 2016 16:30:49 GMT -5
This is me with money...only in reverse:  post tips a hacks you use to stretch the finances.   |
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Greg
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Post by Greg on May 19, 2016 9:12:04 GMT -5
You get the cash back regardless of whether you pay on time or not.
Sure, the interest may very well off-set it, but 1% cash back and interest at 25% is better than purely interest at 25% without any cash back which many people have because they cannot be bother to get the best rates.
Let's say you run an average $5000 overdraft on your credit card (a stupid thing to do). But you are spending $40,000 per year. You pay approximately $1250 per year in interest but you get $400 back as cashback so you've really paid $850 in interest.
If once a year you fail to pay for a whole month, but the 11 months of the year you pay on time. For example you finance a new bathroom renonvation on your credit card then you only pay 1/12 of 25% (roughly 2%) of the 5000 which is 100 dollars. So with 400 cash back you are 300 better off.
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Greg
Junior Member
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Post by Greg on May 19, 2016 9:27:00 GMT -5
Another way I save money is that all the common furniture in the house is very high quality but second hand.
I've noticed that most people and, especially the working classes, like to buy a new suite of lounge furniture for say $3000-$4000 but it's typically cheaply made rubbish. It looks great on the day it is delivered but within 5 years it is looking tired and within 8 years it is trashed. Half that if you have children. The seem to prefer having new rubbish rather than second hand but high quality.
What I do is spend $1500-$2000 on a very high quality second hand suite which some rich person is changing because they are bored of the colour but they paid $7000-$8000 for. They might be a few years old but they are often in mint condition and the quality of the leather or fabric and the stitching is so good that even with children you will get a good 10 years of wear out of them. My kids do somersaults over the back of the couch, but because they are full analine leather and made in Italy they never manage to rip the cushions.
In our kitchen for example we have a bar stool which was made for a McDonald's restaurant. I suspect it was stolen in the south London riots several years ago otherwise I am not sure how a person could acquire just one stool from McDonalds. I paid $30 for it second hand. It's industrial strength and was purpose built for McDonalds, clearly designed to be used every day by customers for years. Domestic quality bar stools tend to fall to pieces very quickly and I am always scared to stand on them to reach the top of the cupboards. This thing is rock solid. With a big family always go for industrial strength products if they exist. In the long term you save a lot of money.
With eBay and a little patience it's possible to pick up stuff suitable for a large family and the wear and tear they give stuff.
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Post by Voxxkowalski on May 19, 2016 11:09:51 GMT -5
I have but maybe 2 new sticks of furniture in my whole house...but our decor is country farmhouse americana...the modernist decor is overated and overpriced...just like the NO
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MiriamM
TC spellcheck
TC quality control
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Post by MiriamM on May 19, 2016 12:45:52 GMT -5
(1) Think before you buy anything (new or used): Is this essential to my life? Or, will buying this make my life more efficient overall by eliminating the need for other purchases and streamlining my day to the point of being able to earn more money? (The latter is pertinent only to those who also have to work for a living, not to those with lots of time on their hands.)
(2) When low on funds at home, graze: Eat what is already in your home but hasn't been opened. This means soups, other canned or dry food, and what is in your refrigerator and still good.
(3) Patronize deeply discounted stores such as Grocery Outlet instead of standard supermarkets. (They are in 25 States; might not be in yours.) They often have larger packages of chicken or fish which can be frozen and later defrosted singly by the piece, so even those without large families can benefit.
(4) Resist the temptation to buy prepared foods of any kind (for example, hot food or prepared salads). This is very difficult for those of us who live in "gourmet ghettos" and other urban locations with abundant culinary delights and with an emphasis on ready-made products appealing to "busy professionals." However, some things are more expensive to make (certain condiments, etc.) than to purchase ready-made, so evaluate such decisions.
(5) Do not make extra trips with your car. This has become standard for me: Either I run an errand in concert with a job responsibility or weekday Mass attendance (before or after), or I do without that item or activity until I can be efficient about it. This is just a matter of discipline and self-denial. If this means that you can't wash your hair until tomorrow when you can buy shampoo, probably it won't be the end of the world, especially if you're not going out some place special that day/eve.
(6) Space your meals in a way which allows you to eat less --or less of more expensive items-- without having to go hungry and jeopardize your health or functioning.
(7) Watch your electrical use at home, including lighting and power supplies always "on."
(8) Buy at Dollar Stores when you can. Dollar Stores (like Dollar Tree) do not carry everything, let alone all the time, but visiting them in concert with a necessary trip somewhere near one may help you avoid more conventional pricing and packaging. Recent example: same quality, size, amount of napkins costing >$3/package at Target cost me just $1/package (same size) at DT the other day.
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