This was a really interesting article! Most of the points you made fit really well with my money habits (haggling would take a lot of getting used to though).
I always ask for cash for my birthday/etc, but my aunts and grandma always want to get us things we can "unwrap." Slowly but surely they're coming around, but maybe this article would help =P
What's strange is though I love getting cash as a gift, I still would feel guilty giving others cash for a gift (unless it's what they've asked for). I am pretty particular about getting gifts, I really try as hard as I can to get something I know the person will love. Now that I think of that, maybe I'm forcing them to be frugal in a way--giving them something that I know they'll use.
I'm with you except, we do buy used shoes. We find that dress shoes for kids are often in all but new condition and great for special events, like weddings or performances. (Which is probably why they're being sold in the first place. They were single use purchases.) We also look for very gently used shoes for the rest of us before we fork over cash for new. People die, kids go through a growth spurts. I think if you're careful, look for heel and interior wear, you can find good buys. Good quality gently used shoes at better prices than cheap new ones, are better for your feet too.
I wonder if it's possible to test out of some classes under the "life experience" or "competentcy" categories by taking the free college courses you mentioned in an earlier Wisebread and mastering the material.
Sorry, I meant per paycheck, not per week. But this was 3 people giving the same figures, I think if one had said $45 and someone else knew of a lower they'd have said "No, you can get it lower!" instead of speaking in agreement on the subject. They also only make $7 and some change an hour (my brother worked there less than 2 weeks before getting a better job, he was making $7.35, so in line with what my classmates were saying)... People in areas where they get $2 more per hour wouldn't feel the hurt of the money coming out of the check quite as much.
I'm in rural Indiana btw In an area where there's tons of people clamoring for each job position that opens.
I try to use the library as much as possible but when I do buy books (going on a trip or building up my collections of favorite authors) I try to buy used books. I'm now replacing my cheap paperback Harry Potters with cheap hardcover ones!
Point taken, but I think you mean this painting, which was found on the street, not at Goodwill? While its value was ultimately over $1 million, the finder's fee was only $15,000 AND she lost the painting.
I would add aquariums to the list of things that should only be purchased secondhand. Nearly every family in America has tried fish once and given up!
A guy i know said said you can save a ton of money on your mortgage by paying it weekly or 1/4 of normal monthly payment vs just one payment per month -- how much would that save you over time?
assuming same $ 200,000 30 yrs 6%
how about on 15 yr?
I started college by paying as I went out of my own pocket and then dropped out due to my partner & put him through school under the agreement he'd put me through when he was done.
When I went back almost 4 years later as a single Mom I remember composing the grueling essays for scholarships and grants... I remember the elation of getting enough to cover my tuition. I remember my college councilor telling me I'd be making 60k out of college & that I should take out loans to fix my car, etc because I'd have more then enough after I graduated.
Reality set in hard after graduation & I thought it was just me that had been ill advised during college but a few months ago I was talking to some people at work & they all got the same spiel in college... "Take out the loans incase you need it for living expenses because you'll be making plenty to pay it back later."
Here I sit with 2 degrees & I don't think I've ever made more then 25k... although I admit the single parent thing doesn’t help – I’ve been passed over for things because I can’t stay till 11pm working on a project. I really wish I could go back & tell myself in college to not take out those loans. Wonder if the people in those college offices get a kick back or something on the loans… or do they just have no concept of reality & finances?
I bought my first stove for $5. A man had just carried it down some rickety stairs, and had barely made it. It was a beautiful Roper, and I cooked on it for over a year, until we moved. I buy most clothes on ebay--just bought a pair of dress pants, new with tags, for 99cents plus $4 postage. I have also bought many pairs of shoes on ebay--new or nearly new. I try on very good (and expensive) shoes in the stores and then look on ebay for the same brand in the size that fits me. Ebay is the only place I buy cosmetics or bath products, purses, flea killers for pets, cookware, books, just about everything. I buy staple groceries at the local close-out store. If I had to buy things new, there would be nothing in the house.
Here's an illustration: Last year, there was a bit on local TV about a group of workers who bought lottery tickets together and won a fairly large amount of money. They showed three of the people and interviewed them about what they were going to do with the money. The first one said he was going to buy a new car and pay bills. The second one said she was going to remodel the house and buy some things for the grandchildren. The third, a Chinese man, was asked what he planned to buy. He answered "Nothing. I will put it into my children's education, because that investment will pay off when I'm old." I've told a lot of people about that, but many don't appreciate it.
Regarding the question of health insurance on minimum wage, and the insurance cost for health insurance at walmart, I did recheck what I had posted earlier and compared it to the 2008 insurance cost my friend is paying. The figure of about 10 dollars per each paycheck is correct. That is for high deductible insurance, and it is the same rate for all employees of this company countrywide except, he thinks, for California, which apparently has a different health care structure.
Regarding the post of health insurance costing 45 dollar "per week" at walmart, the employees of walmart are paid every two weeks, and insurance is deducted from that, there is really no "weekly" insurance rate.
Walmart, as with most big corporations, offers multiple levels of health insurance coverage and premium levels. The single rate for the high deductible coverage is the amount I stated. If an employee wants a low deductible and the widest choice of medical choices, then the premium is higher. Of course the premiums are also higher for additional family members on the coverage, but are still pretty low with the high deductible plans.
So the answer does remain that an individual could have health insurance coverage on walmart wages. From talking with a number of employees at the local store, many do have the insurance, some say they cannot afford it, but they drive almost new cars, and one is in Vegas this week on vacation, so I quess you makes your choice and pays your money.
As I said in the earlier post, walmart at the local store does not pay minimum wage, about 9 dollars per hour is the lowest, for a cashier, and they cannot fill all their jobs. About every time I'm in the store, I'm asked if I want to hire on. I don't, although I have sure worked at worse places of employment over my life.
This wage level appears to be common across this area,three states, and still most stores are unable to get the staffing they want. They will hire just about anyone, regardless of capabilities, although I will say I have not seen any employees that are wheelchair bound, so I guess there may be a restriction on that.
I'd think that hiring needs at Wal Mart would depend on which Wal Mart, right?
I've worked pt at Borders, where you can get health insurance as a pt employee. I loved that job.
I'm constantly trying to school myself to recognize what I actually want v what seems to pop up on the internal feed--you know, the "oooh, I want a Bowflex/card table/nifty gadget" instinct, just because there it is in front of me. Advertising is powerful and scary.
When I bought a home a year ago, I really resisted buying a semi-detatched with no garage. Why? Because "people" don't like them as well. Well, that's what I could comfortably afford, and I actually love the setup. Love the neighbors, love the neighborhood. The really funny thing here? I DON'T OWN A CAR. Caring about a garage was nuts.
When I lived in China there was no income tax because everybody worked for the government. These days there is a graduated income scale similar to that of the US. I heard that some rich folks can pay 40% or more in taxes.
You know that I need more sleep when I got all the way to the second paragraph before realizing that it was about Chinese "Money" habits... not Chinese "Monkey" habits...
This is really interesting. For curiosity's sake, what is the average tax rate in China?
I've given gift cards to family for the last several years -- always to stores they frequent. But after reading about Sharper Image going bankrupt, and their gift cards being worthless, I'm seriously leaning toward cash. I love the idea of the red envelopes.
I can understand wanting to save money by buying used games, but I wanted to point out that when you do this, the developers don't see a cent of that money. I've had to purchase games secondhand if I can't find them anywhere else, but I try to avoid it if I have any other choice for this very reason.
20 hours semesters?! I hope whoever tries that doesn't have classes like I had.
I started out as a music major, where it is remarkably hard to do 12 hours if you focus on performance classes. For those that think it's an easy major, it's not. Many classes are 1 credit hour, but meet 4-5 times a day. Then there are the 0 credit hour classes that are still mandatory to take. I didn't know better, focused too much on music classes, and I had to quit, even though that was pretty much all I did.
When I did go back to college, I changed my major to something in the liberal arts and sciences college. Despite that, 12 hours was more than enough. 15 credit hours was a necessary evil sometimes. I did 16 credit hours once, but that was hell.
Now, I am not a bad student by any means. I'm a very fast learner and I do know how to budget time. But I've seen how hard it can be to take too many classes at once. I had friends that took too many and as a result, they often ruined their GPA and lost their scholarships.
So...
Take your time with college. Enjoy it. Work part time if you absolutely must. But don't take a load you can't handle because even if you make it through, you may well come to hate the field you're studying.
Several years ago, my husband and I were in need of debt management. We had no idea that it existed until one of the credit card companies we were having difficulty keeping up payments with, suggested a debt management company that they worked with. We were not charged monthly fees, the credit card companies covered it. We were able to get out of debt in no time.
Do you really think Bill (MS) cares that you exist? Nice Plug though, unless this was your job app. that was proofread by an English Major!
The comment at the bottom is absolutely ridiculous coming from a so self-proclaimed consumer. What interest do you have when one should become a 360 owner? ID-10T
If you live in a city that has Freepeats.org, don't forget to check there for free toys, kids clothes, etc. The focus is on gently-used goods, so you should expect some pretty good quality stuff.
This was a really interesting article! Most of the points you made fit really well with my money habits (haggling would take a lot of getting used to though).
I always ask for cash for my birthday/etc, but my aunts and grandma always want to get us things we can "unwrap." Slowly but surely they're coming around, but maybe this article would help =P
What's strange is though I love getting cash as a gift, I still would feel guilty giving others cash for a gift (unless it's what they've asked for). I am pretty particular about getting gifts, I really try as hard as I can to get something I know the person will love. Now that I think of that, maybe I'm forcing them to be frugal in a way--giving them something that I know they'll use.
I'm with you except, we do buy used shoes. We find that dress shoes for kids are often in all but new condition and great for special events, like weddings or performances. (Which is probably why they're being sold in the first place. They were single use purchases.) We also look for very gently used shoes for the rest of us before we fork over cash for new. People die, kids go through a growth spurts. I think if you're careful, look for heel and interior wear, you can find good buys. Good quality gently used shoes at better prices than cheap new ones, are better for your feet too.
I wonder if it's possible to test out of some classes under the "life experience" or "competentcy" categories by taking the free college courses you mentioned in an earlier Wisebread and mastering the material.
I'm with James on buying the used lawn mower. We bought ours used 14 years ago and it's still going, er....mowing.
Sorry, I meant per paycheck, not per week. But this was 3 people giving the same figures, I think if one had said $45 and someone else knew of a lower they'd have said "No, you can get it lower!" instead of speaking in agreement on the subject. They also only make $7 and some change an hour (my brother worked there less than 2 weeks before getting a better job, he was making $7.35, so in line with what my classmates were saying)... People in areas where they get $2 more per hour wouldn't feel the hurt of the money coming out of the check quite as much.
I'm in rural Indiana btw In an area where there's tons of people clamoring for each job position that opens.
I try to use the library as much as possible but when I do buy books (going on a trip or building up my collections of favorite authors) I try to buy used books. I'm now replacing my cheap paperback Harry Potters with cheap hardcover ones!
Point taken, but I think you mean this painting, which was found on the street, not at Goodwill? While its value was ultimately over $1 million, the finder's fee was only $15,000 AND she lost the painting.
I would add aquariums to the list of things that should only be purchased secondhand. Nearly every family in America has tried fish once and given up!
A guy i know said said you can save a ton of money on your mortgage by paying it weekly or 1/4 of normal monthly payment vs just one payment per month -- how much would that save you over time?
assuming same $ 200,000 30 yrs 6%
how about on 15 yr?
I started college by paying as I went out of my own pocket and then dropped out due to my partner & put him through school under the agreement he'd put me through when he was done.
When I went back almost 4 years later as a single Mom I remember composing the grueling essays for scholarships and grants... I remember the elation of getting enough to cover my tuition. I remember my college councilor telling me I'd be making 60k out of college & that I should take out loans to fix my car, etc because I'd have more then enough after I graduated.
Reality set in hard after graduation & I thought it was just me that had been ill advised during college but a few months ago I was talking to some people at work & they all got the same spiel in college... "Take out the loans incase you need it for living expenses because you'll be making plenty to pay it back later."
Here I sit with 2 degrees & I don't think I've ever made more then 25k... although I admit the single parent thing doesn’t help – I’ve been passed over for things because I can’t stay till 11pm working on a project. I really wish I could go back & tell myself in college to not take out those loans. Wonder if the people in those college offices get a kick back or something on the loans… or do they just have no concept of reality & finances?
I love cross cultural pieces. This was very interesting.
I bought my first stove for $5. A man had just carried it down some rickety stairs, and had barely made it. It was a beautiful Roper, and I cooked on it for over a year, until we moved. I buy most clothes on ebay--just bought a pair of dress pants, new with tags, for 99cents plus $4 postage. I have also bought many pairs of shoes on ebay--new or nearly new. I try on very good (and expensive) shoes in the stores and then look on ebay for the same brand in the size that fits me. Ebay is the only place I buy cosmetics or bath products, purses, flea killers for pets, cookware, books, just about everything. I buy staple groceries at the local close-out store. If I had to buy things new, there would be nothing in the house.
Here's an illustration: Last year, there was a bit on local TV about a group of workers who bought lottery tickets together and won a fairly large amount of money. They showed three of the people and interviewed them about what they were going to do with the money. The first one said he was going to buy a new car and pay bills. The second one said she was going to remodel the house and buy some things for the grandchildren. The third, a Chinese man, was asked what he planned to buy. He answered "Nothing. I will put it into my children's education, because that investment will pay off when I'm old." I've told a lot of people about that, but many don't appreciate it.
thanks, very interesting article.
Regarding the question of health insurance on minimum wage, and the insurance cost for health insurance at walmart, I did recheck what I had posted earlier and compared it to the 2008 insurance cost my friend is paying. The figure of about 10 dollars per each paycheck is correct. That is for high deductible insurance, and it is the same rate for all employees of this company countrywide except, he thinks, for California, which apparently has a different health care structure.
Regarding the post of health insurance costing 45 dollar "per week" at walmart, the employees of walmart are paid every two weeks, and insurance is deducted from that, there is really no "weekly" insurance rate.
Walmart, as with most big corporations, offers multiple levels of health insurance coverage and premium levels. The single rate for the high deductible coverage is the amount I stated. If an employee wants a low deductible and the widest choice of medical choices, then the premium is higher. Of course the premiums are also higher for additional family members on the coverage, but are still pretty low with the high deductible plans.
So the answer does remain that an individual could have health insurance coverage on walmart wages. From talking with a number of employees at the local store, many do have the insurance, some say they cannot afford it, but they drive almost new cars, and one is in Vegas this week on vacation, so I quess you makes your choice and pays your money.
As I said in the earlier post, walmart at the local store does not pay minimum wage, about 9 dollars per hour is the lowest, for a cashier, and they cannot fill all their jobs. About every time I'm in the store, I'm asked if I want to hire on. I don't, although I have sure worked at worse places of employment over my life.
This wage level appears to be common across this area,three states, and still most stores are unable to get the staffing they want. They will hire just about anyone, regardless of capabilities, although I will say I have not seen any employees that are wheelchair bound, so I guess there may be a restriction on that.
Thanks!
I'd think that hiring needs at Wal Mart would depend on which Wal Mart, right?
I've worked pt at Borders, where you can get health insurance as a pt employee. I loved that job.
I'm constantly trying to school myself to recognize what I actually want v what seems to pop up on the internal feed--you know, the "oooh, I want a Bowflex/card table/nifty gadget" instinct, just because there it is in front of me. Advertising is powerful and scary.
When I bought a home a year ago, I really resisted buying a semi-detatched with no garage. Why? Because "people" don't like them as well. Well, that's what I could comfortably afford, and I actually love the setup. Love the neighbors, love the neighborhood. The really funny thing here? I DON'T OWN A CAR. Caring about a garage was nuts.
When I lived in China there was no income tax because everybody worked for the government. These days there is a graduated income scale similar to that of the US. I heard that some rich folks can pay 40% or more in taxes.
Except for items number 5 and 6, I think we could be related.
If I do have culture-specific financial habits, I'm not aware of them. Most of them weren't good, so I tried to avoid them like the plague.
You know that I need more sleep when I got all the way to the second paragraph before realizing that it was about Chinese "Money" habits... not Chinese "Monkey" habits...
This is what having babies will do to a person...
This is really interesting. For curiosity's sake, what is the average tax rate in China?
I've given gift cards to family for the last several years -- always to stores they frequent. But after reading about Sharper Image going bankrupt, and their gift cards being worthless, I'm seriously leaning toward cash. I love the idea of the red envelopes.
Thanks!
I can understand wanting to save money by buying used games, but I wanted to point out that when you do this, the developers don't see a cent of that money. I've had to purchase games secondhand if I can't find them anywhere else, but I try to avoid it if I have any other choice for this very reason.
20 hours semesters?! I hope whoever tries that doesn't have classes like I had.
I started out as a music major, where it is remarkably hard to do 12 hours if you focus on performance classes. For those that think it's an easy major, it's not. Many classes are 1 credit hour, but meet 4-5 times a day. Then there are the 0 credit hour classes that are still mandatory to take. I didn't know better, focused too much on music classes, and I had to quit, even though that was pretty much all I did.
When I did go back to college, I changed my major to something in the liberal arts and sciences college. Despite that, 12 hours was more than enough. 15 credit hours was a necessary evil sometimes. I did 16 credit hours once, but that was hell.
Now, I am not a bad student by any means. I'm a very fast learner and I do know how to budget time. But I've seen how hard it can be to take too many classes at once. I had friends that took too many and as a result, they often ruined their GPA and lost their scholarships.
So...
Take your time with college. Enjoy it. Work part time if you absolutely must. But don't take a load you can't handle because even if you make it through, you may well come to hate the field you're studying.
Several years ago, my husband and I were in need of debt management. We had no idea that it existed until one of the credit card companies we were having difficulty keeping up payments with, suggested a debt management company that they worked with. We were not charged monthly fees, the credit card companies covered it. We were able to get out of debt in no time.
Hey Loon-bag,
Do you really think Bill (MS) cares that you exist? Nice Plug though, unless this was your job app. that was proofread by an English Major!
The comment at the bottom is absolutely ridiculous coming from a so self-proclaimed consumer. What interest do you have when one should become a 360 owner? ID-10T
If you live in a city that has Freepeats.org, don't forget to check there for free toys, kids clothes, etc. The focus is on gently-used goods, so you should expect some pretty good quality stuff.