Author Topic: Money-saving tips! (Read 42475 times)

mvansand76 · « **on:** July 22, 2007, 06:00:32 am »

DO YOU HAVE ANY??

LauraGigs · « **Reply #1 on:** July 22, 2007, 03:19:58 pm »

My husband & I go by this one idea: pay as little interest as you can. Interest is just money down the tubes, to a bank. We pay our credit cards in full, etc.

If you have something like car insurance where they cut the premium if you pay it all at once (instead of in installments), do that. If you have a big doctor's bill, you can talk to his/her office about doing that too.

mvansand76 · « **Reply #2 on:** July 22, 2007, 05:02:28 pm »

I remember that Oprah episode where she dedicated a whole show to money-saving tips, does anybody remember that?

David In Indy · « **Reply #3 on:** July 22, 2007, 05:08:50 pm »

Use coupons! Many grocery stores around here will double and sometimes even triple the value of a coupon. I've sometimes saved as much as 50% on my grocery bill just using coupons.

Also change your incandescent light bulbs to florescent ones. They are more expensive, but they last a very long time and you will save on your electric bill.

Change the filters in your central air conditioning. Clogged filters will force your a/c to work harder and use more electricity.

Keep the oil changed in your car, and keep it tuned up. Your gas mileage will improve, and you will fill up less often.

David In Indy · « **Reply #4 on:** July 22, 2007, 05:10:56 pm »

Quote from: Snavel del Snuit on July 22, 2007, 05:02:28 pm

I remember that Oprah episode where she dedicated a whole show to money-saving tips, does anybody remember that?

I don't think I saw that show. Maybe they will repeat it sometime soon.

mvansand76 · « **Reply #5 on:** July 22, 2007, 05:16:43 pm »

Quote from: David on July 22, 2007, 05:08:50 pm

Use coupons! Many grocery stores around here will double and sometimes even triple the value of a coupon. I've sometimes saved as much as 50% on my grocery bill just using coupons.

Also change your incandescent light bulbs to florescent ones. They are more expensive, but they last a very long time and you will save on your electric bill.

Change the filters in your central air conditioning. Clogged filters will force your a/c to work harder and use more electricity.

Keep the oil changed in your car, and keep it tuned up. Your gas mileage will improve, and you will fill up less often.

LOL! I can only use one of your tips! We don't have coupons (but I do always buy things on promotion), we don't have air conditioning, and we don't have a car! But that's just me, I bet there will be enough people for whom these tips are very useful... Thanks!

Kelda · « **Reply #6 on:** July 24, 2007, 07:58:45 am »

I use screenscrapers for everything wherever possible!

Holidays:

http://www.holidaybargaindeals.co.uk/

www.icelolly.co.uk

www.holiday.co.uk

http://www.holidaydiscountcentre.co.uk

http://www.holidaymania.co.uk

http://www.holidays-direct.co.uk/

http://www.directholidays.co.uk

http://www.holidayhypermarket.co.uk/index.aspx?newPage=True

http://www.traveljungle.co.uk/

Screenscrapers
For the cheapest European flights
Travelsupermarket
Skyscanner
Kelkoo
Momondo
Sidestep
Mobissimo
Kayak
Foundem

Flight Brokers
For long-haul and Flight/Hotel combinations
Ebookers
Travelocity
Expedia
Lastminute.com
Opodo

Hotel Brokers

Laterooms
Hotelpronto
Hotels.co.uk
Bedbookers
Octopus Travel

Overseas Car Hire

Travelsupermarket
Autoreservations

When booking hotels, if you see a decent offer, you can check customer reviews of hotels advertised at:

http://www.tripadvisor.com

http://www.holidaywatchdog.com

Ellemeno · « **Reply #7 on:** August 04, 2007, 05:44:29 pm »

What are screenscrapers?

Kelda · « **Reply #8 on:** August 04, 2007, 06:01:35 pm »

basically website that check lots of other websites for the best deals - saves you using lots of different ones.

Wishes · « **Reply #9 on:** August 09, 2007, 01:16:05 pm »

Be content with what you have. I watch a lot of HGTV. People spend thousands of dollars to update everything. They can't live with that 70s kitchen or bathroom. Well I can. Everything does not need to be perfect. A place can still be made a home on the cheap.

I was raised to not buy on credit. I pay off my credit card every month. Usually from internet (Amazon) shopping.

I'm planning for retirement so I'm really working on saving money. I do need my book, movie and crafting supplies allowance though.

But I think it's just trying to live as simply as possible and not worry about what others have.

David In Indy · « **Reply #10 on:** August 11, 2007, 12:13:31 am »

Loose change.

Are you sick and tired of finding loose change down in your sofa, on your floor or in your pants pockets?

Put it in a jar!

Get in the habit of putting it into a jar each night. You'll be amazed how fast it adds up! I collect about $50.00 in loose change every month in my jar. Then at the end of the month I roll it up and take it to the bank and deposit it in a savings account. I have been doing this for about a year now, and I have over $750.00 dollars in there.

Who knows? Maybe I'll use that to pay for my trip to Wyoming next year!

Loose change.

David In Indy · « **Reply #11 on:** August 12, 2007, 11:09:03 pm »

Don't leave lights burning after you leave a room. Shut them off. If you need a little light in a room or hallway, invest in a small night light so you can see around you as you walk through them. Leaving large overhead lights or lamps with high wattage bulbs burning will seriously increase your electric bill and it's terrible for the environment. Shut them off when you're not using them!

And don't use your credit cards and debit cards for small purchases! Use cash instead when you buy a bottle of Coke at the filling station or a candy bar at the convenience store. I can't believe it when I see people charging a $1.00 candy bar of bottle of coke. I always keep a small amount of cash in my wallet for smaller purchases. I try to never use my charge cards for anything under $20.00 unless it's unavoidable.

Shasta542 · « **Reply #12 on:** August 12, 2007, 11:16:36 pm »

Quote

And don't use your credit cards and debit cards for small purchases! Use cash instead when you buy a bottle of Coke at the filling station or a candy bar at the convenience store. I can't believe it when I see people charging a $1.00 candy bar of bottle of coke. I always keep a small amount of cash in my wallet for smaller purchases. I try to never use my charge cards for anything under $20.00 unless it's unavoidable.

Is there an extra charge to use a debit card?

I read that even when your phone/camera/whatever is not being charged, the charger is using electricity if it's plugged in. I used to leave my phone charger plugged in, but I've been unplugging it since I read that. I wonder if it's true?

I put my change in a jar, too, David! I had $105.00 last time--but that was a 6 month save-up. Still---even pennies add up that way!

David In Indy · « **Reply #13 on:** August 13, 2007, 01:18:34 am »

Quote from: Shasta542 on August 12, 2007, 11:16:36 pm

Is there an extra charge to use a debit card?

I read that even when your phone/camera/whatever is not being charged, the charger is using electricity if it's plugged in. I used to leave my phone charger plugged in, but I've been unplugging it since I read that. I wonder if it's true?

I put my change in a jar, too, David! I had $105.00 last time--but that was a 6 month save-up. Still---even pennies add up that way!

My bank charges me if I use my debit card at stores! Maybe I should be banking somewhere else! They are only small miscellaneous charges but they add up fast!

I read the average American receives 85 cents a day in change. This is assuming they are not charging candy bars on their Visa and Mastercard! 85 cents X 30 days is $25.50 each month! That's over $300.00 per year! Do this for 3 years, and that's almost $1000.00 dollars!

For some reason I always end up with quite a bit of pocket change each day. It's probably because I'm always buying small items every day; things like those "Big Gulps" at Speedway and candy bars at Walgreen's!

Kelda · « **Reply #14 on:** August 13, 2007, 03:50:35 am »

Quote from: David on August 11, 2007, 12:13:31 am

Who knows? Maybe I'll use that to pay for my trip to Wyoming next year!

Loose change.

oooh! Good idea!

Hmm, certainly my card doesn't charge me for making payments on my card - unless its my credit card & its interest but I don't use that very much.

A good tip for those in the UK - is top open a Nationwide account- I'm about to open one ready for my holiday. NBAtionwide doesn't chage you for withdrawing money abroad- the only card in the UK to do this - which means you get a great exchange rate - and you can withdraw money as you please rather than withdrawing large amounts as you don't want lots of fees.

LauraGigs · « **Reply #15 on:** August 13, 2007, 05:18:09 pm »

Quote

And don't use your credit cards and debit cards for small purchases! Use cash instead when you buy a bottle of Coke at the filling station or a candy bar at the convenience store. I can't believe it when I see people charging a $1.00 candy bar of bottle of coke. I always keep a small amount of cash in my wallet for smaller purchases. I try to never use my charge cards for anything under $20.00 unless it's unavoidable.

Is there an extra charge to use a debit card?

The VISA, MasterCard and AmEx Corporations get their own "swipe" (transaction fee) with everything you charge.

The ads encouraging folks to charge small purchases (implying that cash is inconvenient) make me sick. It drives prices up everywhere and hurts small independent businesses. Those fees go straight to the corporations and banks, people!

I'm told that ATM/debit is less costly all around than credit, so use that if you need to charge.

Wishes · « **Reply #16 on:** August 15, 2007, 03:57:27 pm »

David, some good tips. Most people cannot believe how low my electric bill is. Last year during the California heat wave I heard my jerk neighbors bragging to each other about their over $300 and $500 electric bills. Of coarse they have pools and hot tubs. No thanks. My bill was only $67. I thought that was something to brag about and I do use AC. I have a newer efficient unit. I'm conscience about conserving though.

And I agree about the cash. I do not pay bills on line but I don't write checks in stores anymore except my regular weekly grocery shopping. Everything else is cash.

Kelda · « **Reply #17 on:** August 15, 2007, 05:18:43 pm »

Wishes, I wish I had your willpower and resilience!

Id say I'm better with money than most but i need to SAVE!!!

Wishes · « **Reply #18 on:** August 15, 2007, 08:51:34 pm »

Hi Kelda, It's not always easy to save. I have to put my mind to it. I've been doing well the last year. I wish though that I had saved money sooner when I was younger. Gone to college at a younger age etc. But I know I am better off than many. I don't live pay check to pay check. But I've been there before.

One thing I have found too, at my age, I just don't need anything really any more. I need my books, movies (Amazon shopper here) and my crafting supplies. All which are not big ticket items thank goodness.

Kelda · « **Reply #19 on:** August 16, 2007, 03:52:55 am »

See, I love my travel - thats my hobby - so that can be expensive!

I'm pretty good at card tarting when my 0% interest time period comes up (Thats a good tip in itself - be a card tart - always use a card that gives an introductory offer of 0% on balance transfers &/or purchases and when that introductory is about to finish - look for another one to move it on to - so you never pay interest. 6 weeks before is sufficient time.) - and my card are only to buy things like insurance (rather than paying more by paying monthly) and I bought my kitchn and put it on my 0% interest card and am slowly paying that off.

But I just got a payrise so I've convinced myself I will begin to save for any unexpected things that come up and for a little saving pool too.

It's harder said than done though isn't it!?

I'm 25 though and have a REALLY good penison through my work (as I work for the government) - so I'm organised in thsat sense - and if I begin to save now then thats got to be a bonus - I've also had a mortage for 4 years already so only 21 years and my house will be paid off - thats gotta be good right!?

(I'm trying to convonce myself here!!!)

Kelda · « **Reply #20 on:** August 16, 2007, 06:15:15 pm »

this thread reminded me that my mortage is due for renewal shortly - thanks Guys - went online at lunchtim and found a good no fees broker.

Again for those in the UK, that fees free broker is London & country - http://www.lcplc.co.uk/best_buys_1.aspx?id=0:21998&id=0:21990&icid=

I found that though this website that I use for EVERYTHING! http://www.moneysavingexpert.com/ Its amazing.

Wishes · « **Reply #21 on:** August 16, 2007, 06:17:51 pm »

Kelda, you seem much more grounded at your young age than I was at that age! Traveling I do not think is ever a waste of money. I do like to lodge cheaply though. That is what my family has always done and who would want to go to a foreign country, stay in an expensive hotel and meet a bunch of Americans (in my case anyway)

I'm incredibly impressed you own a home already. You should be very proud of yourself!

Traveling is something I have deprived myself of for quite a long time but I have future plans. Returning to Israel is my #1 next trip. But I'm sure I'll never see everything I want to. But for sure, traveling is money well spent.

Kelda · « **Reply #22 on:** August 16, 2007, 06:35:45 pm »

Why thank you Wishes!

But I do wish my finances were a bit more tight - particularly the savings element of it, as my savings are currently min-ute!

I put money to another account for all my bills, like phone, internet, car, mortage, gas, electicity, tv, council tax, minum credit card payment and then the rest in my normal acocunt is for food and general spending. Any extra money at the end of the month goes towards paying more to credit card or towards paying an annual bill that is due up rather than putting some aside for any unexpected things that come up or these sort of things evry month - its just a random - oh I have this left over occurance rather than any sort of tbought to it. Like if my car's MOT that i got done recently had found something unexpectantly wrong (which it didn't just what I thought it would need - new tyres, and a general service), I would have had to charge it to my card rather than having a pot of money to use whenI say a new exhaust.

Re travelling - yes I'm fine as long as i have a safe clean room - I don't need any pomp and circumstance!

I went to Warsaw with my Mum in February, I booked a hostel for us - even though I booked a twin ensuite room, my Mum admitted later that she was a little nervous about what this hostel would be like, having never stayed in one before. But she loved it.. she was amazed at all the people from all sorts of backgrounds, socialising & just gossiping in the halls or the hanging out area - as you say you don't get that in a faceless large hotel.

Israel - wow! I have heard its an experience! if you have any pics wishes, you should post in wonderful places!

Wishes · « **Reply #23 on:** August 16, 2007, 07:04:39 pm »

Kelda, A little extra money put away for unexpected expenses always does help. Now I'm able to have money put away. Before I went to nursing school I had to rely on my parents if I had an unexpected expense as I made a low wage and did live paycheck to paycheck. I always appreciated having them there to help. And I never abused the privilege either.

Yes, Youth Hostels are great places. And I have found out that despite their name, they take all ages except for a couple of countries.

I loved being in Israel but that was well over 20 years ago when I was a Kibbutz volunteer. I have found another volunteer program for all ages which I want to do now. I lost contact with all the friends I made there and have my name and e mail up at two search for former volunteer sites but no luck in finding the three friends I am looking for: Two from England and one from Holland.

Wishes · « **Reply #24 on:** August 22, 2007, 03:48:49 pm »

I just thought of another money saving tip I do not see used very much: BRING YOUR OWN LUNCH TO WORK!!!! Nothing is free and all food costs money but I see so many people buy their lunch every day. That can add up I think. I also love Starbucks but I only get a large latte once a week where I can drink it while running errands and enjoy it. I see some people at work get one daily. I'm too busy to enjoy stuff at work.

Kelda · « **Reply #25 on:** August 22, 2007, 03:58:07 pm »

Ah yes, I mostly bring in food from home too!

While you can get a big tub of humous for £1.50 and 5 bagles for £1.50 and these will last you all week, you can end up paying £2.50 each day for a sandwich..

I treat myself to a frappe most Fridays too! Wishes, are we related (actually no, cos my sister is absolutely rubbish at saving money) - perhaps we were seperated at birth!

I am very pleased with myself too - my mortgage term is up next month so I was shopping around for a new mortagge and by pauing an extra £65 a month I've shaved 6 years off my mortgage - I worked out that could save me £9000!!!!

David In Indy · « **Reply #26 on:** August 22, 2007, 04:03:53 pm »

Quote from: Wishes on August 16, 2007, 06:17:51 pm

Kelda, you seem much more grounded at your young age than I was at that age! Traveling I do not think is ever a waste of money. I do like to lodge cheaply though. That is what my family has always done and who would want to go to a foreign country, stay in an expensive hotel and meet a bunch of Americans (in my case anyway)
I'm incredibly impressed you own a home already. You should be very proud of yourself!

Traveling is something I have deprived myself of for quite a long time but I have future plans. Returning to Israel is my #1 next trip. But I'm sure I'll never see everything I want to. But for sure, traveling is money well spent.

HEY!!!

Wishes · « **Reply #27 on:** August 22, 2007, 05:41:05 pm »

But David I see enough Americans at home!

Kelda, you are so very nice. And I love humus! Because I work 12 hour shifts but only 3 days a week, I make my lunches the day before my 3 day stretch starts and I have everything packed and ready in the fridge for all 3 days. I have a lot of people tell me they don't have time to make their lunches. But I'm not so sure that is really valid. It just takes some simple planning ahead.

And congratulations on your new mortgage. I'm not sure however I understand how your mortgage works. Maybe it is different than in the U.S.. Do all mortages have a certain term or is that something you chose to do? I have a mortgage but it's a 30 year fixed rate. I'll never pay it off because I'll sell the house before then.

Kelda · « **Reply #28 on:** August 22, 2007, 06:00:19 pm »

Generally in the uK, you start with a 25 year term.

So you borrow say £200,000 which you pay back over 25 years.

But in the UK - you get a deal for a certain amount of time (a certain % over or under the bank of englands base rate).

The idea is to swap to another mortgage with a better deal than your current one whos good rate has now dissapeared & been replaced by a worse rate one (they lure you in with a favourable introductory offer for the first few years hoping you'll not bother changing mortgage provider and will make more money off you in later years when they bump up the interest rate) one.

So most consumers then review their mortgage when the introductory rate ends - or their broker does it for them. So they are not paying over the odds in interest.

But say you move house and you need a bigger mortgage, you can either increase the amount you are borrowing over the same tim period or increase the time you pay it in.

so you could say get a mortgage raised from £200,000 to 250,000 but instead of paying bigger payments every year to pay it off after 25 years, you can increase the term to 30 years to pay the same amount you've been paying just now, see?

So even though I've not changed the amount I've borrowed by paying a bit extra each month than I was, I am therefore paying the mortgage off faster and therefore being debt free quicker and also paying less interest as a result.

Does that make sense?

Kelda · « **Reply #29 on:** August 22, 2007, 06:05:09 pm »

Quote from: Wishes on August 22, 2007, 05:41:05 pm

I have a lot of people tell me they don't have time to make their lunches. But I'm not so sure that is really valid. It just takes some simple planning ahead.

Yeah, and surely you waste more time spending your lunch hour going to the canteen or whatever!? I don't even make my food up - I just take the bread and pot of humous and some fruit and whatever with me in a shopping bag on Monday, stick it in the fridge at the start of the week, and make my sandwich up each day. Takes 2 minutes & is a 1/4 the cost. Versus 15mins walking to the canteen, waiting in line etc & then £3-5 a lunch.

Oh re: mortgages in the UK - we can move house and still keep the same mortgage - its the money rather than the house that we owe.

Kelda · « **Reply #30 on:** August 23, 2007, 11:55:06 am »

I thought of another one today - which I never actually reall thourght of a rela money daver until now.

I hardley ever by a newspaper.

In my daily commute to work I pick a free metro on the way in and a free Daily Record PM on the way home. I then read the news on the internet at lunch.

Never buy a tv guide either - as its akll right there on my cable box.

So thats gotta save a few $$$ or £££ over the course of a year!

Wishes · « **Reply #31 on:** August 23, 2007, 03:58:56 pm »

Kelda, I think I do understand your explanation of the mortgage. I think mortgages can be made this way here also although that is not what I did. It's scary since buying property is the biggest investment people make and I find home ownership not that rewarding anyway.

The no newspaper and TV guide idea is a good one. I don't buy them either. I even stopped buying some of the decorating magazines I used to as I just found them piling up around the house and not really worth it.

Kerry · « **Reply #32 on:** August 28, 2007, 10:05:40 pm »

Tip #1

I realise it's not possible for everyone, but I can't recommend highly enough that one should endeavour to find employment where there is a good superannuation (retirement) plan.

I have been with my present employer for 27 years and for all of that time, I have contributed 9% of my salary to my retirement plan each week. My employer (the New South Wales government) matches my 9% with a further 6% of their own. This means that I have been saving the equivalent of 15% of my salary for the past 27 years.

It will give me a great deal of clout in the real estate market, when I retire next year. I will be able to purchase my retirement home for cash, with no mortgage necessary.

Tip #2

Four important tips re mortgages:

1. Save as much deposit as possible

2. Borrow as little as possible

3. Pay more quickly and more often than your bank recommends

4. Do without other things and give priority to paying off your mortgage first

Tip #3

Get yourself a credit card with an extended interest-free period on it. My credit card has a 50 day interest-free period, when one is not charged interest. I put absolutely all my purchases on my credit card (not little things) and then pay up the credit card in full on day 49, just before it's due. I do this by making an on-line transfer from my high interest paying account, where my salary and the bulk of my savings is deposited, and where it's been attracting lots of interest in my favour, prior to the monthly transfer.

Tip #4

I agree with David about small change. However, unlike David, I do not roll it up and take it to the bank on a regular basis. Rather, I prefer to use my small change for small purchases. I am not at all shy about handing over a fistfull of small change for minor purchases (up to a couple of dollars). I do this specifically in order not to break a note. I find that once one breaks a note, it is soon fritted away. So, keep your notes intact in your wallet, and use coin for small purchases.

Tip #5

Rent is dead money. You may as well flush it down the toilet! Do without in order to save a deposit on purchasing your own home.

Great idea for a thread!

Kelda · « **Reply #33 on:** August 29, 2007, 03:24:50 am »

Great ideas Kerry.

I'm normally pretty good with my money but this month I have decided to get smart.

I ahve a great penison with my work, so no worries there but I also increased my mortgage payments which should hopefully save me about £9000 over the course of the mortgage and have also started 2 savings accounts - once for holiday savings and one a general run of the mill savings account.

Wishes · « **Reply #34 on:** August 29, 2007, 02:23:32 pm »

Kerry, How wonderful that you will be able to purchase your retirement home for cash.

But I don't even want to get started on a retirement plan with my employer. A 401K retirement plan is offered but it would be all my own money. No matching from my employer so I do not do it.

I bought a house almost 6 years ago. While I do not really enjoy owning a house I know that the equity from this place will help with my retirement. House prices are falling here but I have never refinanced, so I'm not worried about it.

I have no debt except my mortgage (thank goodness!) I have found the house has taken money but it has also appreciated a great deal. I made no cosmetic improvements except the kitchen linoleum. (I could not live with the orange)

Kerry · « **Reply #35 on:** August 30, 2007, 09:36:59 am »

Quote from: Wishes on August 29, 2007, 02:23:32 pm

Kerry, How wonderful that you will be able to purchase your retirement home for cash.

But I don't even want to get started on a retirement plan with my employer. A 401K retirement plan is offered but it would be all my own money. No matching from my employer so I do not do it.

I bought a house almost 6 years ago. While I do not really enjoy owning a house I know that the equity from this place will help with my retirement. House prices are falling here but I have never refinanced, so I'm not worried about it.

I have no debt except my mortgage (thank goodness!) I have found the house has taken money but it has also appreciated a great deal. I made no cosmetic improvements except the kitchen linoleum. (I could not live with the orange)

I have heard the argument in favour of paying rent, in preference to owning one's own home. I have experienced both renting and owning and I personally prefer the latter. After paying off my mortgage several years ago, I continued to save the same amount that was previously paying the mortgage, and I've created a very nice nest egg for my retirement by doing so (and continue to do). It's often not easy to save, but it is certainly always worthwhile!

Kelda · « **Reply #36 on:** August 30, 2007, 10:26:37 am »

Quote from: Nutmeg Guy on August 30, 2007, 09:56:02 am

My best advice for not spending money? Don't go food shopping when you are hungry!

Oh god, I'm terrible for doing that - as we tend to get out shopping right after work on a Friday, so it doesn't clutter up our weekend.

So my treats for the weekend are often eaten on a friday night - I tend to buy the nice looking desserts that are in the discounted isle as they are about to go past their sell by date that I would never buy at full price (they're expensive enought when reduced!!)

But I do sometimes go a little mad when it comes to the food shopping cos its nearly teatime and I'm getting peckish!

serious crayons · « **Reply #37 on:** August 30, 2007, 10:47:18 am »

If you have a savings account in a regular bank, move it to an online-only account. HSBC and ING are a couple that are considered pretty good, and they pay somewhere around 5 percent interest -- much higher than most regular banks' savings accounts.

I'm confused about how much you save by paying down a mortgage. On the one hand, yes, it's nice to minimize your house debt. On the other, you get a tax deduction on the interest and it's already much lower than credit-card interest. So I think it's best to pay your credit cards off first, anyway, as Laura said earlier.

A few years ago, I would have thought you'd be better off taking on a lot of house debt than investing in the stock market, because the returns on real estate were so much greater than they would be on other investments. For instance, we owned our last house for 10 years and sold it for more than twice as much as we'd bought it for. Nowadays, though, you can lose money you've invested in your house. We bought our current house about a year and a half ago and are now trying to sell it -- we probably won't even get back what we put into it. I keep telling myself that we aren't losing any more than we'd have paid in rent, plus we got that tax deduction ... but still, it's discouraging.

Kelda · « **Reply #38 on:** August 30, 2007, 11:06:54 am »

maybe its the different scenario of UK v USA? Certainly the interest rates for mortgages is quite high currently.

Certainly - my credit cards are 0% interest - so the only loan causing me interst just now is my car loan (5 months to go) my student loan (very very low interest rate) and my mortgage - by reducing my term by 6 years (paying off 6 years early) I've estimated I will save £9k.

Wishes · « **Reply #39 on:** August 30, 2007, 02:41:31 pm »

Quote from: ineedcrayons on August 30, 2007, 10:47:18 am

A few years ago, I would have thought you'd be better off taking on a lot of house debt than investing in the stock market, because the returns on real estate were so much greater than they would be on other investments. For instance, we owned our last house for 10 years and sold it for more than twice as much as we'd bought it for. Nowadays, though, you can lose money you've invested in your house. We bought our current house about a year and a half ago and are now trying to sell it -- we probably won't even get back what we put into it. I keep telling myself that we aren't losing any more than we'd have paid in rent, plus we got that tax deduction ... but still, it's discouraging.

Oh I'm so sorry to hear this. I peeked and saw you are in Chicago. The housing market is slumping and I feel bad for those who bought at the height of the market and now are facing equity loss. I have much less sympathy for those who refinanced the heck out of their house and spent the money on unneeded things.

I bought this house just as the market was starting to climb and everything was sold sold sold. I started looking in a smaller town and ended up living where I really didn't want to. Now people who should have never been given a house loan are loosing thier houses. It's really a mess and it does make me mad that these loans were taken and given to persons who should have kept renting.

Wishes · « **Reply #40 on:** August 30, 2007, 02:46:49 pm »

This is the first time I ever owned. Really I would have been better in a condo vs a house. But I have pets (just one old kitty right now) and I was tired of trying to find a place that took my cats. I plan to sell this place in about 5 years, rent for a year or two and then buy a little place in a 55 and older mobile park. Down sizing like that will be financially good for me. And while I will never have a good retirement plan I think I'll be fine. Just not rich.

When my little old girl is gone (I hate the thought) I plan to do some traveling then before I get more kitties.

serious crayons · « **Reply #41 on:** August 30, 2007, 07:01:12 pm »

Quote from: Wishes on August 30, 2007, 02:41:31 pm

Oh I'm so sorry to hear this. I peeked and saw you are in Chicago. The housing market is slumping and I feel bad for those who bought at the height of the market and now are facing equity loss. I have much less sympathy for those who refinanced the heck out of their house and spent the money on unneeded things.

Thank you, Wishes. What makes it worse is that we bought our new house before selling our old one, thinking the old one would sell fast (back when it wasn't yet clear that the market had shifted). Then our old one DIDN'T sell for months, forcing us to get a mortgage for our new house on really bad terms -- paying about $1,000 a month more than we would with a decent mortgage -- in order to pay for it (we actually tried to back out of the deal on this one, but the previous owner threatened to sue!

). We had to commit to that bad mortgage for a year. Now the year is long over, and we have to refinance or sell. We don't want to refinance, because we don't want to stay here long enough to make it financially viable. So we're selling -- or at least, we're trying to! I guess I should say we're selling, but so far nobody's buying! $:-\$

OK, end of rant. Because the fact is, as I said, we more than doubled our investment in our previous house. You win some, you lose some!

Kerry · « **Reply #42 on:** September 01, 2007, 04:06:01 am »

If you have a front loader washing machine, use the powder for top loader washing machines, instead of the front loader powder recommended by the manufacturer.

Why, you ask? They're both the same price, so what's the difference?

Well, the top loader powder is stronger (produces more suds) than the front loader powder, so you only use half as much of the top loader powder in front loader machines.

This means you can get twice as many washes from the same amount of wash powder.

I've been doing this ever since getting my front loader machine and it works brilliantly. And my washing is as clean as clean can be!

Only a modest saving, but every penny counts!

Kerry · « **Reply #43 on:** September 01, 2007, 04:26:19 am »

Don't use toll roads. You already pay your taxes, so why should you pay more?

Leave home a little earlier and use the non-toll roads. It takes longer, but if you depart earlier, you will get to your destination at the same time.

For example, I live on the south (city) side of Sydney Harbour but work on the north side. The easiest way for me to get to and from work each day is via the Sydney Harbour Bridge. However, there is a toll on the SHB for all traffic travelling southward (not northward). So when I travel northward to work in the morning, I take the SHB (no toll) and coming back home, southward, in the evening, I travel by the non-toll Gladesville Bridge. It's a slightly longer journey, but I avoid the toll.

I know what you're thinking - I pay just as much on extra petrol for the longer journey as I would on the bridge toll. Well, no, I don't. Though it is slightly longer to drive via the Gladesville Bridge, at least the traffic is moving smoothly all the way, with no stop-start driving, as opposed to the SHB, which is constant stop-start, high petrol consuming driving all the way. And I drive a very fuel-efficient, small car.

By doing this, I save the $3 daily bridge toll! Not a lot, you say? Well, that $3 adds up to a saving of $15 a week and $780 a year!

For the 14 years I've been living at my present address, that's $10,920!!!

Kerry · « **Reply #44 on:** September 01, 2007, 10:13:44 am »

If your employer offers a salary packaging scheme, I strongly recommend that you contribute to it.

Salary packaging allows me to receive $9,095 of my salary tax free, by associating it with any one of a range of fringe benefits. The fringe benefits may be one's home mortgage or rental payments, private travel, insurance premiums, local government rates, water rates, gas electricity and phone bills, personal loan and credit card payments, school fees and a number of other items.

The benefit to someone participating in a salary packaging scheme is that one's taxable income is reduced, which means you pay less tax.

I contribute to the salary packaging scheme offered by my employer, resulting in an extra $2,500 in my pocket each year!

serious crayons · « **Reply #45 on:** September 01, 2007, 10:49:28 am »

Quote from: Kerry on September 01, 2007, 10:13:44 am

Salary packaging allows me to receive $9,095 of my salary tax free, by associating it with any one of a range of fringe benefits. The fringe benefits may be one's home mortgage or rental payments, private travel, insurance premiums, local government rates, water rates, gas electricity and phone bills, personal loan and credit card payments, school fees and a number of other items.

Kerry, in the U.S. we have something like that for health care and child care and maybe one or two other things, but I don't think we can apply it to as wide a range of expenses as you've listed here. That sounds nice!

Penthesilea · « **Reply #46 on:** September 01, 2007, 11:51:30 am »

Quote from: Kerry on September 01, 2007, 04:06:01 am

If you have a front loader washing machine, use the powder for top loader washing machines, instead of the front loader powder recommended by the manufacturer.

You have different wash powders for top loaders and front loaders

? I've never heard of that before.
How about other countries? Americans? Great Britain? Mel?

I always use 3/4 of the amount of powder that is recommended on the package. Laundry gets clean and I produce less pollution for the environment. And like Kerry pointed out, I save some pennies (although that's not the reason why I do it).

shortfiction · « **Reply #47 on:** September 01, 2007, 02:40:46 pm »

If you have So Cal Edison, call them and ask for the level pay plan. You will pay a lot less per month on your energy bill this way. The catch is that you must let them attach a box to your a/c unit and if there is a flex alert and your household is on the list for that day, they may turn the a/c off for about an hour, but no more than that. Other states may have something similar.

Get a new fridge that is an Energy Saver. Get rid of the second fridge and any older appliances.

Shop at Trader Joe's if there are any near you. They have much better prices on basics like milk, eggs, and cereal than the supermarkets do.

serious crayons · « **Reply #48 on:** September 01, 2007, 03:51:56 pm »

Quote from: Penthesilea on September 01, 2007, 11:51:30 am

You have different wash powders for top loaders and front loaders ? I've never heard of that before.
How about other countries? Americans? Great Britain? Mel?

I always use 3/4 of the amount of powder that is recommended on the package. Laundry gets clean and I produce less pollution for the environment. And like Kerry pointed out, I save some pennies (although that's not the reason why I do it).

I'm not familiar with that, either. Also, I don't recall having even seen a front-loader washing machine. Not that I'm any expert.

I always use less detergent than recommended, too, both in the laundry and in the dishwasher. I figure the manufacturers want you to use a lot. But I think the amount they call for is hard on the clothes, dishes, environment and wallet.

Penthesilea · « **Reply #49 on:** September 01, 2007, 05:37:55 pm »

Quote from: ineedcrayons on September 01, 2007, 03:51:56 pm

I'm not familiar with that, either.

I'm relieved to hear that. I began to think I'm living under a rock

Quote

Also, I don't recall having even seen a front-loader washing machine. Not that I'm any expert.

Front-leaders are far more common in Germany than top-loaders. Mostly people with little space buy the latter, because they're more narrow than front-loaders.

But I still don't see why it should make any difference in regard to the detergent?

Oh, this reminds me of something absolutely bizarre and tasteless, but funny: ever heard of a washing machine cover?

serious crayons · « **Reply #50 on:** September 01, 2007, 05:49:42 pm »

Well, that's weird, Chrissi. Because the machines here are mostly top-loaders, but in width they look more like the front-loader picture.

Why would German and American washing machines be so different, I wonder?

Penthesilea · « **Reply #51 on:** September 01, 2007, 06:31:46 pm »

Quote from: ineedcrayons on September 01, 2007, 05:49:42 pm

Well, that's weird, Chrissi. Because the machines here are mostly top-loaders, but in width they look more like the front-loader picture.

Why would German and American washing machines be so different, I wonder?

I don't know why they are so different, but they they look different because of the positioning of the inner basket (where you put your laundry in).
In Europe, the inner basket spins horizontally, in the US it spins vertically (like a centrifuge).
Funny thing is, in Europe the inner basket of top loaders also spins horizontally, but is positioned 90° different than in front-loaders. Therefore top-loaders have less width, but more depth.

I'm sure we all can safe much money with our new knowledge about washing machines

fritzkep · « **Reply #52 on:** September 01, 2007, 09:37:03 pm »

Chrissi, I have no personal experience with them, but I've always been told by my coworkers that German washing machines use much hotter water than ours do, close to boiling, and that the machine itself heats the hot water up to near the boiling point. That would certainly be another difference. Perhaps the cover helps insulate the machine so that the water does not cool down too much during the washing cycle? Or to be able to put items on top of the machine so that they won't get too hot themselves?

Kerry · « **Reply #53 on:** September 02, 2007, 01:11:27 am »

Quote from: Penthesilea on September 01, 2007, 05:37:55 pm

But I still don't see why it should make any difference in regard to the detergent?

The top loader powder is more concentrated and produces more suds. That's why the manufacturer does not recommend it for front loader machines, because too many suds in a front loader can stuff-up the works.

Because front and top loader powders come in the same size box and are the same price, and because the top loader powder is more concentrated than the front loader powder, by using the top loader powder in a front loader machine, you can get away with using only half the recommended powder and, therefore, getting double the amount of washes from the same amount of powder.

And Fritz makes a very valid point about water temperature. I recommend using a bona fide cold wash powder, with all the savings that attracts. I have been using cold water wash for years and my wash is always very clean.

Unless you work in coal mine, it is most likely that your clothes do not need the longest, most powerful wash your washing machine provides. I always use the briefest wash cycle (I'm an office worker - my clothes never really get "dirty" as such) with all the associated savings that attracts.

Kelda · « **Reply #54 on:** September 02, 2007, 11:01:02 am »

In the UK you very rarely get a top loader washing machine.. reason is space - cos my washing maching for example sits in my kitchen - if it was top loader I couldn't have workspace above it - with a side loader it can. I'd say most family kitchens in the US are a hella lot bigger than the Euro counterparts - s this allows them to have toploaders without too much of a problem - also a lot of US homes have utility rooms for their washer and dryers - which is something that a lot of homes here don't - I certainly don't.

so there is not different washing powder sold in shops here - simply cos there is no need to.

Wishes · « **Reply #55 on:** September 03, 2007, 11:35:50 pm »

I bought a new washer/dryer set a few months ago. (after using the old set that was left here when I bought the house until they both gave out) I wanted a front loading washer but only got a cheaper set (top loader) because I plan to leave them here when I sell the house in the next 5 years.

Most of the front loaders here are HUGE and PRICEY. I would have spent a lot more even for the smallest model.

My mother is from Europe and we talk about this a lot. And I'm sorry but I think it is true of many but not all. It seems some Americans are never satisfied. Houses aren't big enough, cars aren't big enough. It's always more more more. I own a smaller two bedroom house with a yard and I think "I never wanted even this!"

And back to the washer. I never use as much laundry soap as they recommend. And when it's so hot as it is now, I hang my laundry to air dry. That's free.

Wishes · « **Reply #56 on:** September 03, 2007, 11:38:10 pm »

Oh and water temperature. My mother uses nothing but cold and always has. She also has never had a dryer. Ever.

I admit to usually using warm but I probably should rethink that.

Kerry · « **Reply #57 on:** September 04, 2007, 09:50:20 am »

Quote from: Wishes on September 03, 2007, 11:35:50 pm

And back to the washer. I never use as much laundry soap as they recommend. And when it's so hot as it is now, I hang my laundry to air dry. That's free.

Absolutely! I looove clothes dried in the sunshine and open air. They have such a lovely clean smell.

I had a dryer for years but very rarely used it and finally gave it away.

serious crayons · « **Reply #58 on:** September 04, 2007, 10:01:36 am »

Quote from: Kelda on September 02, 2007, 11:01:02 am

I'd say most family kitchens in the US are a hella lot bigger than the Euro counterparts - s this allows them to have toploaders without too much of a problem - also a lot of US homes have utility rooms for their washer and dryers - which is something that a lot of homes here don't - I certainly don't.

I don't know the size of the average Euro kitchen, but you are probably right. The average square footage per person in a U.S. home has doubled in the past 50 years.

I don't think I've ever seen a home here with laundry appliances are in the kitchen. In older homes, they're in the basement. In fancy newer homes, they're in a utility room on the main floor or even upstairs near the bedrooms. In apartments, they're either in some communal area or, if the apartment has it's own, in a closet in the hall of something.

LauraGigs · « **Reply #59 on:** September 04, 2007, 01:29:39 pm »

One thing to remember too, is that dryers in particular are very simple machines (a rotating drum with a belt) and therefore very easy to fix!

That's another way to save money — fix/repair yourself if you can. When you open something up, you realize how simple it is at the core (surface bells & whistles aside). If it's something you can't fix, at least you're closer to a diagnosis for the repairman.

Keeps appliances out of the landfills too!

Wishes · « **Reply #60 on:** September 04, 2007, 08:06:27 pm »

I can't fix ANYTHING. I know people who can male and female but not me.

Fran · « **Reply #61 on:** September 04, 2007, 10:52:44 pm »

With regard to front-load washing machines, this is how I understand it:

Front-load washing machines use less water, which makes them more energy efficient. Laundry detergent specifically made for front-load washers produces less suds, and that's why it's recommended by the manufacturer. In other words, since less water is used to clean the clothes, all of the suds may not get rinsed out if you're using regular laundry detergent (the kind used with top-load washers). But you probably can use less of the regular detergent (as Kerry pointed out) and get around buying the front-load detergent.

We purchased an LG front-load washer a couple of months ago, and I think it's great. It uses very little water to clean the clothes. I use Tide "he" (high efficiency) laundry detergent and the bottle lasts a very long time (even when using the recommended amount of detergent).

The only drawback I've found with my front-load is that I can't open the door to add anything to the load once it's started, so that spare sock that typically turns up has to wait till the next load.

Kerry · « **Reply #62 on:** September 05, 2007, 08:05:22 am »

Quote from: Fran on September 04, 2007, 10:52:44 pm

The only drawback I've found with my front-load is that I can't open the door to add anything to the load once it's started, so that spare sock that typically turns up has to wait till the next load.

Fran, you can slip that renegade sock into the wash by completely turning off the washer. Once the electricity has been disconnected, you will be able to open the door. Then start the wash anew, from the beginning of the cycle. It's advisable that you only do this, however, at the beginning of the wash, before the washer fills with water, for obvious reasons!

Here in Oz, we have a star rating system, whereby all appliances are given stars for fuel efficiency, etc. The more stars on the label, the more fuel efficient the appliance is.

When my old top loader died recently, I bought a new front loader for $520. Because it had a high star rating (principally gauged on water consumption with washers, I believe), Sydney Water (the entity that provides water to the Sydney area) offered a $150 rebate off all purchases. How that works is that I paid $520 to the store and they gave me a rebate form to fill out, which I posted to Sydney Water. A couple of weeks later, I got a $150 cheque in the post, meaning I only paid $370 for my beautiful new washer! No strings attached. Cool! It is a straight forward incentive from Sydney Water, to encourage people to do the right thing, environmentally!

Wishes · « **Reply #63 on:** September 05, 2007, 12:20:19 pm »

Kerry, That is a great deal on a front loader. They are not that reasonable in the U.S. They do save a ton of water and that is one reason I feel guilty not getting one. I do try to run full loads though.

Fran · « **Reply #64 on:** September 05, 2007, 12:48:44 pm »

Quote from: Kerry on September 05, 2007, 08:05:22 am

Fran, you can slip that renegade sock into the wash by completely turning off the washer. Once the electricity has been disconnected, you will be able to open the door. Then start the wash anew, from the beginning of the cycle. It's advisable that you only do this, however, at the beginning of the wash, before the washer fills with water, for obvious reasons!

Kerry, I'll keep this in mind, but I'm not sure I'll ever be brave enough to try it.

Congrats on your energy-savings rebate. Here in the States, all I got was what amounted to free delivery from Home Depot. But still, it was better than nothing.

southendmd · « **Reply #65 on:** September 05, 2007, 01:26:47 pm »

The front-loaders haven't yet caught on in the US, and are still expensive. A washer/dryer pair can easily top $1000.

Also, the early front-loaders didn't drain well, and had mildew problems.

They are easier on your clothes than the top-loaders, too. I think the spin cycle is somewhat gentler.

I always use cold water with very good results. I always use liquid detergent; I think it dissolves better in cold water.

A friend of mine in Germany had an interesting contraption: a washer/dryer all-in-one! It washes, and then dries the same load! Great if you have a small space, or no outdoor space.

Penthesilea · « **Reply #66 on:** September 05, 2007, 01:44:30 pm »

Quote from: Fran on September 05, 2007, 12:48:44 pm

Kerry, I'll keep this in mind, but I'm not sure I'll ever be brave enough to try it.

There's nothing to be brave about it

, only careful

. I do it some times, no probs as long as the water isn't up to the door/opening.
A few times, I happened to choose the wrong washing program, the one which doesn't empty the water at the end of the program and I opened it without looking - and had the water all over my floor

.

Quote from: southendmd on September 05, 2007, 01:26:47 pm

A friend of mine in Germany had an interesting contraption: a washer/dryer all-in-one! It washes, and then dries the same load! Great if you have a small space, or no outdoor space.

I never had one, they are quite expensive. But a great idea, isn't it?

serious crayons · « **Reply #67 on:** September 05, 2007, 01:57:46 pm »

Quote from: Penthesilea on September 05, 2007, 01:44:30 pm

There's nothing to be brave about it , only careful . I do it some times, no probs as long as the water isn't up to the door/opening.
A few times, I happened to choose the wrong washing program, the one which doesn't empty the water at the end of the program and I opened it without looking - and had the water all over my floor .

I'll stick with ~~beans~~ a top-loader.

Penthesilea · « **Reply #68 on:** September 05, 2007, 02:16:16 pm »

Quote from: ineedcrayons on September 05, 2007, 01:57:46 pm

I'll stick with ~~beans~~ a top-loader.

Remember the days when your sons were little and shared the bathtub? The glut(?) (flooding?) you get from an accidentally opened front-loader isn't worth than what two little ones do with your bathroom

.

My parents always had top-loaders and when I was a child, I always enjoyed to sit in front of my aunt's front-loader and watch the clothes circle for a while

. And my cat did so sometimes, too

.

serious crayons · « **Reply #69 on:** September 05, 2007, 02:37:56 pm »

Quote from: Penthesilea on September 05, 2007, 02:16:16 pm

I always enjoyed to sit in front of my aunt's front-loader and watch the clothes circle for a while . And my cat did so sometimes, too .

Your cat circled for a while in the front loader, too? Wow, Chrissi, you must have been a mischievous child!

Kelda · « **Reply #70 on:** September 05, 2007, 04:47:06 pm »

somebody should start a green/environmental thread! go on you know you want to!!

Wishes · « **Reply #71 on:** September 05, 2007, 08:41:34 pm »

Quote from: southendmd on September 05, 2007, 01:26:47 pm

The front-loaders haven't yet caught on in the US, and are still expensive. A washer/dryer pair can easily top $1000.

Also, the early front-loaders didn't drain well, and had mildew problems.

They are easier on your clothes than the top-loaders, too. I think the spin cycle is somewhat gentler.

I always use cold water with very good results. I always use liquid detergent; I think it dissolves better in cold water.

A friend of mine in Germany had an interesting contraption: a washer/dryer all-in-one! It washes, and then dries the same load! Great if you have a small space, or no outdoor space.

Oh wow I had not heard about the mildew problems. My new washer has frayed some wash clothes up but so far has been OK with clothes.

I have seen these wash/dry combos. Well actually on TV only. Not in a store. Not here.

Wishes · « **Reply #72 on:** September 05, 2007, 08:43:25 pm »

Quote from: Kelda on September 05, 2007, 04:47:06 pm

somebody should start a green/environmental thread! go on you know you want to!!

I think this is a great idea. I'm not sure it would go though. I use all non detergent soaps and low impact cleaners from the health food store. Or actually some regular groceries carry some items now too.

Kelda · « **Reply #73 on:** September 06, 2007, 03:51:44 am »

Quote from: Wishes on September 05, 2007, 08:43:25 pm

I think this is a great idea. I'm not sure it would go though. I use all non detergent soaps and low impact cleaners from the health food store. Or actually some regular groceries carry some items now too.

I'll post on it & I def think kerry and a few others on this thread will! I start enough threads on How We Live so going to leave it to someone else to start so I don't overun the place!!!

Penthesilea · « **Reply #74 on:** September 06, 2007, 05:08:10 am »

Quote from: ineedcrayons on September 05, 2007, 02:37:56 pm

Your cat circled for a while in the front loader, too? Wow, Chrissi, you must have been a mischievous child!

Nooooo. Of course not. I didn't have a cat when I was a child (I was already adult when I put the animal into the front-loader

).
Seriously: my cat was a TV junkie. She liked to watch the rotating laundry sometimes and she LOVED to sit in front of the aquaium and watch the fish. I always called it the cat telly.

Kelda · « **Reply #75 on:** October 09, 2007, 05:43:56 pm »

I love love love www.moneysavingexpert.com

I plan to se this properly so I can try and make the most of my savings. Its an excel sheet.

Maybe you guys will find this useful.

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