This article is fantastic and one that every person that ever thought to or soon will start a business must read. Kind reminds me of the quote: "The best time to start a business is never and always."
The more food I have in the pantry the easier I rest at night. I also don't worry so much about money if I have a full pantry. I love the planning and storing of all food. It helps me through the winter months when heating is so expensive and I have a house full of people at the holidays!
After working on my own blog http://www.mewithoutdebt.com chronicling my journey towards debtfreedom led me to read lot of debt related blog and write few entries myself. I found it both therapeutic and inspirational.
When I was single in my small one family house, I would never have considered a club membership as it wouldn't save me money. My family had some financial issues and I bought a bigger house. Now that my uncle is divorced and has custody of his children they moved in with me also. So altogether, there are 13 of us. Yes, BJs really does save me a lot of money. Yes, those $60 a year really is worth it to me. We are 4 adults and 9 children n only my uncle and I work. The other two adults are disabled. I really do appreciate the savings I get ad they accept coupons too. I'm well off financially due to frugality and my education from both the formal schools and the school of hard knocks. I love them all and I know they are struggling, but they all have a year to get on their feet and move out. I worked full time, go to school full time and I am a single parent. I'm sure if I can do it, they all can.
Ive had mine for a year almost and they offer more free transfers bill pay and even text messageing control on your account. its awsome i get my paycheck a day before everyone else aswell. i recomend them never done me wrong 10 stars for the netspend pre-paid mastercard
This is a nice post that aggregates all the "myths." However, it's all subject to interpretation.
Everyone of the myths has a great truth to it, and going against each statement could prove disastorous. I've created and invested in a couple business before, and all the myths above have been true at some point or another.
I love the myths! The great idea and worrying about the idea being stolen top the list, though I think like all myths there are some kernels of truth. Typically though the one great idea needs to be followed by multiple great ideas along with the execution mentioned -- which is often overlooked. The need for a business plan seems to be perpetuated by bankers and investors, which of course would need one to part with money; on the other hand, Google can be an exception as it didn't need a market maker (investment firm) to go public. Still, it shows that creativity doesn't have to be applied to the one idea but to a series of ideas not just for marketing but other aspects of business management.
Jabulani--you're taking on the deeper issues that economists and government analysts either don't understand or refuse to venture into. I agree with all that you've written.
The problem with optimistic economic projections is that they develop legs because they're popular, and people's hopes are pinned on them. They can keep going even if they aren't true.
What ever happens, the best course is to prepare for the worst. If the good times return, you'll be that much better off. If the worst happens, you'll be prepared. That's a can't lose recipe.
The point wasn't to buy produce specifically for drying and storing. I typically eat fruits and vegetables raw, and I buy them in bulk. The dehydrator is handy when I overestimate how much I'm going to use up during the week.
In a way then, the fruits and veggies were free, since they would've gone in the trash otherwise.
It's not always cheapest to dry your own fruit at home. It's best to do the math, whether you're using an electric dehydrator or using a slow, slow oven, and compare the cost of energy + produce with the cost of dried fruit on deep discount from the supermarket.
The Complete Tightwad Gazette discussed this very issue. Most of the time, it's cheaper to buy canned, frozen, or dried fruit from the supermarket when it's on sale, than to D.I.Y. In my experience, if cost is the only concern, you save money over store-bought versions only if you get the produce for free.
(Of course, if you have other concerns, like avoiding high-fructose corn syrup, then you may not mind paying more for your own home-preserved food.)
I like my American Harvest a lot, but the real key is that it should have a fan and not just a heat source - you want the damp air out of there, not condensing inside.
Another reason to have a dehydrator is that there is a lot of free and cheap fruit out there going bad - for years we got as many free apples as we could handle just by asking suburban acquaintances if we could clean off their trees - and it's pretty easy to dumpster dive out-of-area fruits like peaches, or get them for really cheap as they're just past ripe.
I only use my dehydrator for a few things - mostly apple rings, which I'm doing 24/7 this time of year - but I never buy fruit snacks or fruit leather, my kid eats apple & squash "chips" the way his cousins eat candy & potato chips, and I have never found out how many apples we will eat because we *always* run out before the next fall.
I recommend the Excalibur brand. They're well-known, made in America, and you can buy direct (or on Amazon, etc.). They're considered the best by raw foodists.
Cheaper alternatives include the Nescos. If you have $50 to spend, you can get a new Nesco for less than that.
A note if you buy a used one: don't worry too much about finding instructions. After drying a few batches, you should have notes for how to customize recipes to suit your dehydrator and environment.
6 years ago, I bought my house with 10% down and a 5% interest rate (not interest only) 30 year fixed mortgage.
I considered everything or so I thought, but not the fact that property taxes would increase ( I live in NJ) and PMI would increase. Throw in a second child that was born 2 years after buying the house, things that would need fixing and the fact that I would soon be earning $30,000 less and suddenly I realized I could not afford the house.
I sold the house and was lucky to break even. But had I waited to have 20% and some cushion, I would still be in the house.
In the end, you are going to have to sit down, analyze your pros and cons and decide.
At least, you are doing the right thing by asking everyone to chime in. This would greatly help you.
come on guys... overall, the savings makes sense when it comes to this article and the food dehydrator. Candy, sugar snacks are so easy to buy now a days. If you always have a good steady supply of dried fruit, it will first off cut out the waste in rotted fruit and your kids and loved ones will benefit from eating healthier snacks. Mix it with nuts and you are good to go. Good article.
These are good pointers but am not sure of the vegetarian part. i am as carnivorous as they come and the candy(i have a set full of sweet teeth) and the veg garden(dont want to be thrown out of my apartment by the landlord). i have filed them all in to m memory for future reference. thanks
I should know. I spent 2 years on a nearly meatless diet for my health. The result: got sick, fat, and nearly went insane. I now eat a diet comprised mostly of meat and vegetables and am healthy, at a normal weight, and have made some headway on the sanity thing. (Although not as;)
From a biological point of view, we are strongly weighted towards a meat based diet. We have a short digestive system, grow only 2 sets of teeth, and are unable to synthesize some basic vitamins. In short, we have alot more in common with cats and dogs than cows or horses.
Any approach to vegetarianism and especially veganism should be designed with the idea that we are made to run fully or partially on animal proteins. I suspect most of the "health benefits" of vegetarianism are actually derived from the emphasis on whole foods in the average practioner's diet, rather some miracle based on vegetables.
And to bring this somewhat back on topic, we do have a dehydrator. However, the only reason we have it ironically is to make jerky because it's the only thing one the long list of things you can do that I can eat. Concentrating the sugars in fruit isn't a good idea in my case. For the record, the jerky that we produce tastes great and is far cheaper than the store stuff. ;)
Saying if you don't like the way your credit card company treats you, just get a different one sounds like a good free market solution. But people should realize that number and proportion of new accounts, number of recent credit inquiries, and length of time you've had an account are all factors in your credit rating, negative in the case of new accounts.
Sounds like another case where some re-regulation is called for.
All my friends and family (especially my kids) now me as being cheap -- not necessarily frugal, but going to get good bang for the buck.
Ok, a few other ideas:
Movies: discount tickets are usually available at the convenience counter of your local grocery store (not just movies either). Netflicks can also be a great way to have an evening out (but at home). 2 movies a month for ~$6. Buy a microwave corn popper (Presto, ~$12 at Wallyworld) and you don;t even have to eat that weird orange colored microwave popcorn (that is relatively expensive).
Skiing? Look in advance at resorts you might be interested in. In Colorado most resorts offer some sort of "4 pass" plan (4 lift tickets for cheap rate). Most are assigned via a picture id to one person, but the smaller places just sell you 4 tickets.
Equipment//stuff: craigslist and freecycle. Hard to beat.
Used American cars, especially larger GM cars. They almost always are out of favor on the resale market, but can get surprisingly good mileage and if you buy some 'blue hairs' car have few miles and are in good condition.
Watch the sales at Kohl's for clothes. Look at the back of the clothing racks for the clearance items --- as an adult, you probalby aren;t growing anything but out and can buy a bit ahead. Besides, core clothing (pants, most shirts) are fairly routine styles and can be put together for most occasions from the same set. I arrange my clothes by placing the newest washed ones on one end of the area they are in (pants, shirts, then my play/work clothes). This way I can try to not wear the same shirt/pant combo each week.
I always take them out of the dryer after 10~20 minutes and hang them on a rod in the laundry room for a day or so. Dry, and they are ready to be put away in the closet. Plus, they are usually acceptably unwrinkled.
As a former girlfriend said once (she appreciated the good deals I would find -- pre-craigslist): it takes more time/work to find the deals than you realize. Just surmising here. make it fun and a challenge. I like the idea to put the saved money in an actual savings account, but that might take the fun out of it. I have been known to put the money saved into my fund for a hobby I have, or a specific purchase I want to make. Same Idea I guess.
I try to buy a little extra whenever I can, particularly if there's a good deal on something, and it does build up.
Every so often I do a minimal purchase month, particularly if I have some unexpected expenses. We just eat through what's in the cupboard/fridge/freezer, and only buy the fresh stuff that has to be bought regularly.
Then we can either ride out the other expenses that month, or even be left with a nice sum at the end to go into savings.
This article is fantastic and one that every person that ever thought to or soon will start a business must read. Kind reminds me of the quote: "The best time to start a business is never and always."
The more food I have in the pantry the easier I rest at night. I also don't worry so much about money if I have a full pantry. I love the planning and storing of all food. It helps me through the winter months when heating is so expensive and I have a house full of people at the holidays!
After working on my own blog http://www.mewithoutdebt.com chronicling my journey towards debtfreedom led me to read lot of debt related blog and write few entries myself. I found it both therapeutic and inspirational.
A very nice article indeed. I believe super successful business owners or "any professional" are extremely diligent rather intelligent. On a side note a NewYorker article by Malcolm Gladwell on I.Q. http://www.newyorker.com/arts/critics/books/2007/12/17/071217crbo_books_...
Thanks Alex!
When I was single in my small one family house, I would never have considered a club membership as it wouldn't save me money. My family had some financial issues and I bought a bigger house. Now that my uncle is divorced and has custody of his children they moved in with me also. So altogether, there are 13 of us. Yes, BJs really does save me a lot of money. Yes, those $60 a year really is worth it to me. We are 4 adults and 9 children n only my uncle and I work. The other two adults are disabled. I really do appreciate the savings I get ad they accept coupons too. I'm well off financially due to frugality and my education from both the formal schools and the school of hard knocks. I love them all and I know they are struggling, but they all have a year to get on their feet and move out. I worked full time, go to school full time and I am a single parent. I'm sure if I can do it, they all can.
Ive had mine for a year almost and they offer more free transfers bill pay and even text messageing control on your account. its awsome i get my paycheck a day before everyone else aswell. i recomend them never done me wrong 10 stars for the netspend pre-paid mastercard
This is a nice post that aggregates all the "myths." However, it's all subject to interpretation.
Everyone of the myths has a great truth to it, and going against each statement could prove disastorous. I've created and invested in a couple business before, and all the myths above have been true at some point or another.
I love the myths! The great idea and worrying about the idea being stolen top the list, though I think like all myths there are some kernels of truth. Typically though the one great idea needs to be followed by multiple great ideas along with the execution mentioned -- which is often overlooked. The need for a business plan seems to be perpetuated by bankers and investors, which of course would need one to part with money; on the other hand, Google can be an exception as it didn't need a market maker (investment firm) to go public. Still, it shows that creativity doesn't have to be applied to the one idea but to a series of ideas not just for marketing but other aspects of business management.
If it is for free I will use it and abuse it!
Agreed. That's why the oven ins't as effective for dehydrating unless you leave the door slightly open.
I don't know if it's true, but I've heard supermarkets sell their overripe produce at a discount if you ask.
Thanks for all the great ideas. And a co-op sounds great, sd! I wonder why there aren't more of them...
Jabulani--you're taking on the deeper issues that economists and government analysts either don't understand or refuse to venture into. I agree with all that you've written.
The problem with optimistic economic projections is that they develop legs because they're popular, and people's hopes are pinned on them. They can keep going even if they aren't true.
What ever happens, the best course is to prepare for the worst. If the good times return, you'll be that much better off. If the worst happens, you'll be prepared. That's a can't lose recipe.
The point wasn't to buy produce specifically for drying and storing. I typically eat fruits and vegetables raw, and I buy them in bulk. The dehydrator is handy when I overestimate how much I'm going to use up during the week.
In a way then, the fruits and veggies were free, since they would've gone in the trash otherwise.
It's not always cheapest to dry your own fruit at home. It's best to do the math, whether you're using an electric dehydrator or using a slow, slow oven, and compare the cost of energy + produce with the cost of dried fruit on deep discount from the supermarket.
The Complete Tightwad Gazette discussed this very issue. Most of the time, it's cheaper to buy canned, frozen, or dried fruit from the supermarket when it's on sale, than to D.I.Y. In my experience, if cost is the only concern, you save money over store-bought versions only if you get the produce for free.
(Of course, if you have other concerns, like avoiding high-fructose corn syrup, then you may not mind paying more for your own home-preserved food.)
I like my American Harvest a lot, but the real key is that it should have a fan and not just a heat source - you want the damp air out of there, not condensing inside.
Another reason to have a dehydrator is that there is a lot of free and cheap fruit out there going bad - for years we got as many free apples as we could handle just by asking suburban acquaintances if we could clean off their trees - and it's pretty easy to dumpster dive out-of-area fruits like peaches, or get them for really cheap as they're just past ripe.
I only use my dehydrator for a few things - mostly apple rings, which I'm doing 24/7 this time of year - but I never buy fruit snacks or fruit leather, my kid eats apple & squash "chips" the way his cousins eat candy & potato chips, and I have never found out how many apples we will eat because we *always* run out before the next fall.
I recommend the Excalibur brand. They're well-known, made in America, and you can buy direct (or on Amazon, etc.). They're considered the best by raw foodists.
Cheaper alternatives include the Nescos. If you have $50 to spend, you can get a new Nesco for less than that.
A note if you buy a used one: don't worry too much about finding instructions. After drying a few batches, you should have notes for how to customize recipes to suit your dehydrator and environment.
6 years ago, I bought my house with 10% down and a 5% interest rate (not interest only) 30 year fixed mortgage.
I considered everything or so I thought, but not the fact that property taxes would increase ( I live in NJ) and PMI would increase. Throw in a second child that was born 2 years after buying the house, things that would need fixing and the fact that I would soon be earning $30,000 less and suddenly I realized I could not afford the house.
I sold the house and was lucky to break even. But had I waited to have 20% and some cushion, I would still be in the house.
In the end, you are going to have to sit down, analyze your pros and cons and decide.
At least, you are doing the right thing by asking everyone to chime in. This would greatly help you.
You suggested getting a dehydrator off the Craigslist. However, all dehydrators are not equal. Do you have any recommendation for brands?
come on guys... overall, the savings makes sense when it comes to this article and the food dehydrator. Candy, sugar snacks are so easy to buy now a days. If you always have a good steady supply of dried fruit, it will first off cut out the waste in rotted fruit and your kids and loved ones will benefit from eating healthier snacks. Mix it with nuts and you are good to go. Good article.
These are good pointers but am not sure of the vegetarian part. i am as carnivorous as they come and the candy(i have a set full of sweet teeth) and the veg garden(dont want to be thrown out of my apartment by the landlord). i have filed them all in to m memory for future reference. thanks
I should know. I spent 2 years on a nearly meatless diet for my health. The result: got sick, fat, and nearly went insane. I now eat a diet comprised mostly of meat and vegetables and am healthy, at a normal weight, and have made some headway on the sanity thing. (Although not as;)
From a biological point of view, we are strongly weighted towards a meat based diet. We have a short digestive system, grow only 2 sets of teeth, and are unable to synthesize some basic vitamins. In short, we have alot more in common with cats and dogs than cows or horses.
Any approach to vegetarianism and especially veganism should be designed with the idea that we are made to run fully or partially on animal proteins. I suspect most of the "health benefits" of vegetarianism are actually derived from the emphasis on whole foods in the average practioner's diet, rather some miracle based on vegetables.
And to bring this somewhat back on topic, we do have a dehydrator. However, the only reason we have it ironically is to make jerky because it's the only thing one the long list of things you can do that I can eat. Concentrating the sugars in fruit isn't a good idea in my case. For the record, the jerky that we produce tastes great and is far cheaper than the store stuff. ;)
Saying if you don't like the way your credit card company treats you, just get a different one sounds like a good free market solution. But people should realize that number and proportion of new accounts, number of recent credit inquiries, and length of time you've had an account are all factors in your credit rating, negative in the case of new accounts.
Sounds like another case where some re-regulation is called for.
All my friends and family (especially my kids) now me as being cheap -- not necessarily frugal, but going to get good bang for the buck.
Ok, a few other ideas:
Movies: discount tickets are usually available at the convenience counter of your local grocery store (not just movies either). Netflicks can also be a great way to have an evening out (but at home). 2 movies a month for ~$6. Buy a microwave corn popper (Presto, ~$12 at Wallyworld) and you don;t even have to eat that weird orange colored microwave popcorn (that is relatively expensive).
Skiing? Look in advance at resorts you might be interested in. In Colorado most resorts offer some sort of "4 pass" plan (4 lift tickets for cheap rate). Most are assigned via a picture id to one person, but the smaller places just sell you 4 tickets.
Equipment//stuff: craigslist and freecycle. Hard to beat.
Used American cars, especially larger GM cars. They almost always are out of favor on the resale market, but can get surprisingly good mileage and if you buy some 'blue hairs' car have few miles and are in good condition.
Watch the sales at Kohl's for clothes. Look at the back of the clothing racks for the clearance items --- as an adult, you probalby aren;t growing anything but out and can buy a bit ahead. Besides, core clothing (pants, most shirts) are fairly routine styles and can be put together for most occasions from the same set. I arrange my clothes by placing the newest washed ones on one end of the area they are in (pants, shirts, then my play/work clothes). This way I can try to not wear the same shirt/pant combo each week.
I always take them out of the dryer after 10~20 minutes and hang them on a rod in the laundry room for a day or so. Dry, and they are ready to be put away in the closet. Plus, they are usually acceptably unwrinkled.
As a former girlfriend said once (she appreciated the good deals I would find -- pre-craigslist): it takes more time/work to find the deals than you realize. Just surmising here. make it fun and a challenge. I like the idea to put the saved money in an actual savings account, but that might take the fun out of it. I have been known to put the money saved into my fund for a hobby I have, or a specific purchase I want to make. Same Idea I guess.
I try to buy a little extra whenever I can, particularly if there's a good deal on something, and it does build up.
Every so often I do a minimal purchase month, particularly if I have some unexpected expenses. We just eat through what's in the cupboard/fridge/freezer, and only buy the fresh stuff that has to be bought regularly.
Then we can either ride out the other expenses that month, or even be left with a nice sum at the end to go into savings.