One major Millionaire Next Door lesson was that successful people do not subsidize their adult children in order to give the children a lifestyle that is beyond their economic means. My parents paid the lion's share of college for 3 out of their 4 kids, and that was only because one of us chose not to go. But that was it. No law school tuition, no car assistance, no regular supplements to our paychecks when we had crappy entry level jobs. I know only a handful of people in my Gen X age group who bought houses without substantial gifts from mom and dad. I will most likely have to ask for a loan, but it's only because I'm a few grand shy of covering 20% DP plus closing costs for a decent property and I will pay them back - I wouldn't even dream of asking if I had nothing in the bank and wanted to own a home.
Another example, though I don't know which category it fits into, I guess investing time/money now to save money later, is preventative stuff. For example:
* regular oil changes on car to reduce engine wear
* mend clothing before problem gets big
* brush and floss regularly to prevent cavities
* exercise, eat fiber, etc. to reduce chance of health problems
* observe plants to notice when they need watering
* pay bills promptly to prevent late fees
* drive legally to prevent tickets and accidents
* wear a seatbelt/helmet, etc. when doing dangerous things
* install smoke detectors, GFCI outlets, etc., and test them regularly
* have a fire extinguisher at each exit (thus you're always between the fire and an exit)
There are millions of these. Not all of them will save you money--maybe someone totals your car before the engine could wear down or you never fall when you're roller skating. But if you do enough of them, some of them are bound to come in handy.
Another similar thing is buying insurance. You pay a little each month for a very long time to prevent having to go bankrupt if something really huge happens.
You don't need to edit your picture at all. Just take the picture and upload it. Then there is a page where you drag a box to enclose your face. It produces a JPEG (picture) file that with six 2x2 inch images that you download to your computer. Then you just need to get it printed as a 4x6 print. The whole process is very simple and takes less than 5-minutes (depending on your internet connection speed).
They also have settings for many countries so you can, for example, use it for Spanish visa photos.
After my two older sisters had huge very expensive weddings, when I got married in my 30's my dad asked me point blank to do something low key. He admitted while he had the money at the time both weddings really drained their finances. This actually was a huge relief for both of us. I assumed they were going to expect a huge formal event per my sisters, something I had no desire to plan and endure. I was leaning more towards going to the courthouse and having a cocktail party. Huge formal weddings really are not a required thing these days since usually both people are a bit older and have their own lives in contrast to the 50's where few women worked.
As far as college I had to self fund but there were more than willing to give me a place to live and free food, even after they partially retired and had moved into a townhouse.
We can't afford to pay for our kids college. But what we found might work just as well, we are trying to plan our next move to coordinate with our oldest starting college. We can do a lateral transfer via work and move to a larger city, something we really wanted to do anyway. Tuition is a bit lower there to begin with and he can have a free place to stay, again lowering his costs.
I buy my toilet paper, paper towels and tissues by the case. These are things that you know eventually over time you're going to use and the price is better than even the lowest low I've seen in the store.
Granted I started doing this because my parent's business sells these for businesses but they sell to the general public as well. Some of it may be brands that you see in stores like Brawny or Kleenex but sometimes the better deal will be on a brand you've never seen in your local grocery.
Another hint on the toilet paper and paper towels ... a lot of times you're comparing apples to oranges if you are just calculating your savings based on number of rolls instead of the per sheet price. I would also never recommend 1 ply toilet paper - that's the stuff you find in fast food bathrooms that you have to pull off yards and yards of before you get enough to really use. I seriously think that though the cost per sheet price is lower, I think people end up using so much more that in the end it costs more (same sort of thing goes for cheap paper towels that don't absorb well.)
That looks pretty sweet. I love bugmenot so the fact that those are the people behind it means a lot. Otherwise it would just be "another" coupon site.
My parents didn't have much, and spent as they went, so to speak. (If there was more they spent it, less they didn't.) It was always a given that after high school we made our own way. I worked for two years before starting college and paid "rent" to my folks for some of that time before moving to school. The biggest lesson? Work hard. Another, save when you're earning (once getting into my field I didn't, and regret it now). Third, actively teach my kids so that they are prepared for the real world.
Interesting points. My interests led me to switch to using Linux and other free software, and doing my own car maintenance. Part of the appeal of doing these things was that the initial expenditure of effort and money (a few new Linux-compatible parts, and a set of tools and manuals, respectively) would save me money in the long run. But I never thought of evaluating the return on these investments in the same way as financial investments.
I like the stockpiling idea. I do that whenever there's a good supermarket special and my inventory of canned soup has been as much as a month's worth at times.
Interesting way to frame the points you made. You always write the coolest stuff. This one of course is right up my alley and in agreement with my lifestyle choices. Good job.
"Leapers" get a free sandwich or salad at Einstein's or Noah's Bagels today...already had mine today in Atlanta. There was a press release sent out by their home office.
Great reminder to use visual aids in our quest to manifest our goals. I've been using this technique with varying amounts of success for a number of years and have just started to go back to using it on a regular basis. I have been collecting magazines for about two weeks to make up some new boards to post in my home and I like the idea of using the computer to get images as well.
Unfortunately, I had quite the opposite experience. I was raised by a single mom with no help from my biological father. We struggled off and on for years, moving from apartment to rental house, back to apartment. My mom did the best she could, and now that I am a parent I'm not quite sure how she did it.
I took student loans for my first two years of college, and paid my way for the last three (it took me that long because I changed majors). Upon graduation I also started paying back my student loans. My mom still works, so we don't get much help on child care.
Even thought I didn't get much financial support from my mom, I got a ton of life experience on perserverance and work ethic - two things I've used to further my own career. So in many ways, I did benefit from the experience.
My wife had a similar upbringing, and we are determined to break the cycle to provide a slightly softer landing for our kids after graduation.
We live pretty well, but save a ton, and always have. We have friends who live way better than we do but get tons of money from the parents to support the lifestyle (The kids are now in their 40's!). This money seems to be the parents retirement money, and it is going to total luxuries!! (Like fancy remodels and landscaping.)
I just think its wrong. These parents send the wrong message and the kids better grow up, cause soon they may have to support the parents, and none of them will have any savings.
Just a rant. I do think if parents can afford college and perhaps a house down payment, that is okay, but only if the kids step up and do the work needed to get to that point.
So I'm guessing that Firefox extension also tracks your browsing and shopping habits? I hate when that happens. Yes, it's a sin to buy ANYTHING online without checking for a coupon code. I've had the best luck though by googling "coupon code" and then the name of the retailer. I've found some obscure codes this way, sometimes buried on page three or four. You have to be a bit persistent sometimes and not give up right away. I routinely find codes on message boards and other places, you wouldn't think to look! Give it a try!
I had considered the idea that I had a better grasp of how things worked than some of my peers -- and got much better insight into my middle-class behavior when I lived alongside of those who held hourly positions at factories (my apartment). I seemed to know intuitively that a college degree was nearly essential but didn't guarantee anything; that 2 can live nearly as cheaply a 1; that waiting to buy something was better than buying on credit; that you can outspend any income; you gotta save. It is difficult to measure the contribution of cultural capital (basic knowledge of financial systems) on financial status; it is even trickier to separate the two: the contribution of cash/gifts and financial know-how. My main point is that middle-class children (me, for example) may underestimate the value of our parents' cash/gift contributions.
As far as weddings, my sisters and I all had non-country club receptions: one at a relative's house; the other two at the church. One was catered; the others my parents catered themselves.
I will mention though that when I graduated (during a recession) that employers valued experience over talent and knowledge; so new grads nearly always made significantly less than their parents. In my part of the world, the opposite seems true: knowledge of recent grads is valued over experience and new grads often make more than their parents (I have heard this multiple times; also know a woman who mentored a college student, whose starting salary was well over her own pay after years of successful experience in the workforce). But add in high cost of housing and student loan debt, and we may be even -- sure that's open for debate though.
Before anyone co-signs, I'll mention that the cap on my obligation for the utility bill was $100 and if the cousin didn't pay, I was sure my friend would have paid me back. So, be generous but don't go crazy with the co-sign thing.
I'm a big fan of online coupon web sites, and I keep a list of them in a "favorites" folder so that I can access them easily. It's definitely worth the time to take a quick look for a code. Some stores never have codes, but it's all free information. Another site that I use a lot is CouponHeaven.com. They have some exclusive codes, including exclusive
GoDaddy coupon codes and an exclusive
Snapfish coupon code (which have both been mentioned here).
Do you believe what the government has told you about the "health risks" of smoking marijuana?
Non-government sanctioned tests have shown benefits not risks. But that's not what this countries leaders are telling us.
What the fx up with that?
love the Teddy Grahams :)
I just put them into little baggies before giving them to the kids. They are REAL cheap at the dollar store. Yum!
Linsey Knerl
Most of these are true, but I stand by Teddy Grahams as one of the best marketing reinventions of humdrum foods ever!
One major Millionaire Next Door lesson was that successful people do not subsidize their adult children in order to give the children a lifestyle that is beyond their economic means. My parents paid the lion's share of college for 3 out of their 4 kids, and that was only because one of us chose not to go. But that was it. No law school tuition, no car assistance, no regular supplements to our paychecks when we had crappy entry level jobs. I know only a handful of people in my Gen X age group who bought houses without substantial gifts from mom and dad. I will most likely have to ask for a loan, but it's only because I'm a few grand shy of covering 20% DP plus closing costs for a decent property and I will pay them back - I wouldn't even dream of asking if I had nothing in the bank and wanted to own a home.
Another example, though I don't know which category it fits into, I guess investing time/money now to save money later, is preventative stuff. For example:
* regular oil changes on car to reduce engine wear
* mend clothing before problem gets big
* brush and floss regularly to prevent cavities
* exercise, eat fiber, etc. to reduce chance of health problems
* observe plants to notice when they need watering
* pay bills promptly to prevent late fees
* drive legally to prevent tickets and accidents
* wear a seatbelt/helmet, etc. when doing dangerous things
* install smoke detectors, GFCI outlets, etc., and test them regularly
* have a fire extinguisher at each exit (thus you're always between the fire and an exit)
There are millions of these. Not all of them will save you money--maybe someone totals your car before the engine could wear down or you never fall when you're roller skating. But if you do enough of them, some of them are bound to come in handy.
Another similar thing is buying insurance. You pay a little each month for a very long time to prevent having to go bankrupt if something really huge happens.
I have used http://www.epassportphoto.com for 4 passports (my entire family). It TOTALLY ROCKS!
You don't need to edit your picture at all. Just take the picture and upload it. Then there is a page where you drag a box to enclose your face. It produces a JPEG (picture) file that with six 2x2 inch images that you download to your computer. Then you just need to get it printed as a 4x6 print. The whole process is very simple and takes less than 5-minutes (depending on your internet connection speed).
They also have settings for many countries so you can, for example, use it for Spanish visa photos.
before I wasted money on the products I just wrote about in my latest blog post, "High-quality consumer products are hard to find."
before I wasted money on the products I just wrote about in my latest blog post, "High-quality consumer products are hard to find."
After my two older sisters had huge very expensive weddings, when I got married in my 30's my dad asked me point blank to do something low key. He admitted while he had the money at the time both weddings really drained their finances. This actually was a huge relief for both of us. I assumed they were going to expect a huge formal event per my sisters, something I had no desire to plan and endure. I was leaning more towards going to the courthouse and having a cocktail party. Huge formal weddings really are not a required thing these days since usually both people are a bit older and have their own lives in contrast to the 50's where few women worked.
As far as college I had to self fund but there were more than willing to give me a place to live and free food, even after they partially retired and had moved into a townhouse.
We can't afford to pay for our kids college. But what we found might work just as well, we are trying to plan our next move to coordinate with our oldest starting college. We can do a lateral transfer via work and move to a larger city, something we really wanted to do anyway. Tuition is a bit lower there to begin with and he can have a free place to stay, again lowering his costs.
I buy my toilet paper, paper towels and tissues by the case. These are things that you know eventually over time you're going to use and the price is better than even the lowest low I've seen in the store.
Granted I started doing this because my parent's business sells these for businesses but they sell to the general public as well. Some of it may be brands that you see in stores like Brawny or Kleenex but sometimes the better deal will be on a brand you've never seen in your local grocery.
Another hint on the toilet paper and paper towels ... a lot of times you're comparing apples to oranges if you are just calculating your savings based on number of rolls instead of the per sheet price. I would also never recommend 1 ply toilet paper - that's the stuff you find in fast food bathrooms that you have to pull off yards and yards of before you get enough to really use. I seriously think that though the cost per sheet price is lower, I think people end up using so much more that in the end it costs more (same sort of thing goes for cheap paper towels that don't absorb well.)
Just my 2 cents on this. :)
That looks pretty sweet. I love bugmenot so the fact that those are the people behind it means a lot. Otherwise it would just be "another" coupon site.
My parents didn't have much, and spent as they went, so to speak. (If there was more they spent it, less they didn't.) It was always a given that after high school we made our own way. I worked for two years before starting college and paid "rent" to my folks for some of that time before moving to school. The biggest lesson? Work hard. Another, save when you're earning (once getting into my field I didn't, and regret it now). Third, actively teach my kids so that they are prepared for the real world.
I like The Bargainist too they have printable coupons for bricks and mortar shops too
Interesting points. My interests led me to switch to using Linux and other free software, and doing my own car maintenance. Part of the appeal of doing these things was that the initial expenditure of effort and money (a few new Linux-compatible parts, and a set of tools and manuals, respectively) would save me money in the long run. But I never thought of evaluating the return on these investments in the same way as financial investments.
I like the stockpiling idea. I do that whenever there's a good supermarket special and my inventory of canned soup has been as much as a month's worth at times.
Interesting way to frame the points you made. You always write the coolest stuff. This one of course is right up my alley and in agreement with my lifestyle choices. Good job.
One sounds good. We don't have an Einstein's or Noah's where I live. (Course, I'm not a Leapling, anyway...)
Thanks for the tips!
Linsey Knerl
Go to any whole foods on your Leap Year BD and get a free cake + $10 Gift Certificate. Signs seen in stores around Atlanta.
"Leapers" get a free sandwich or salad at Einstein's or Noah's Bagels today...already had mine today in Atlanta. There was a press release sent out by their home office.
Great reminder to use visual aids in our quest to manifest our goals. I've been using this technique with varying amounts of success for a number of years and have just started to go back to using it on a regular basis. I have been collecting magazines for about two weeks to make up some new boards to post in my home and I like the idea of using the computer to get images as well.
BB
Unfortunately, I had quite the opposite experience. I was raised by a single mom with no help from my biological father. We struggled off and on for years, moving from apartment to rental house, back to apartment. My mom did the best she could, and now that I am a parent I'm not quite sure how she did it.
I took student loans for my first two years of college, and paid my way for the last three (it took me that long because I changed majors). Upon graduation I also started paying back my student loans. My mom still works, so we don't get much help on child care.
Even thought I didn't get much financial support from my mom, I got a ton of life experience on perserverance and work ethic - two things I've used to further my own career. So in many ways, I did benefit from the experience.
My wife had a similar upbringing, and we are determined to break the cycle to provide a slightly softer landing for our kids after graduation.
We live pretty well, but save a ton, and always have. We have friends who live way better than we do but get tons of money from the parents to support the lifestyle (The kids are now in their 40's!). This money seems to be the parents retirement money, and it is going to total luxuries!! (Like fancy remodels and landscaping.)
I just think its wrong. These parents send the wrong message and the kids better grow up, cause soon they may have to support the parents, and none of them will have any savings.
Just a rant. I do think if parents can afford college and perhaps a house down payment, that is okay, but only if the kids step up and do the work needed to get to that point.
G
So I'm guessing that Firefox extension also tracks your browsing and shopping habits? I hate when that happens. Yes, it's a sin to buy ANYTHING online without checking for a coupon code. I've had the best luck though by googling "coupon code" and then the name of the retailer. I've found some obscure codes this way, sometimes buried on page three or four. You have to be a bit persistent sometimes and not give up right away. I routinely find codes on message boards and other places, you wouldn't think to look! Give it a try!
I had considered the idea that I had a better grasp of how things worked than some of my peers -- and got much better insight into my middle-class behavior when I lived alongside of those who held hourly positions at factories (my apartment). I seemed to know intuitively that a college degree was nearly essential but didn't guarantee anything; that 2 can live nearly as cheaply a 1; that waiting to buy something was better than buying on credit; that you can outspend any income; you gotta save. It is difficult to measure the contribution of cultural capital (basic knowledge of financial systems) on financial status; it is even trickier to separate the two: the contribution of cash/gifts and financial know-how. My main point is that middle-class children (me, for example) may underestimate the value of our parents' cash/gift contributions.
As far as weddings, my sisters and I all had non-country club receptions: one at a relative's house; the other two at the church. One was catered; the others my parents catered themselves.
I will mention though that when I graduated (during a recession) that employers valued experience over talent and knowledge; so new grads nearly always made significantly less than their parents. In my part of the world, the opposite seems true: knowledge of recent grads is valued over experience and new grads often make more than their parents (I have heard this multiple times; also know a woman who mentored a college student, whose starting salary was well over her own pay after years of successful experience in the workforce). But add in high cost of housing and student loan debt, and we may be even -- sure that's open for debate though.
Before anyone co-signs, I'll mention that the cap on my obligation for the utility bill was $100 and if the cousin didn't pay, I was sure my friend would have paid me back. So, be generous but don't go crazy with the co-sign thing.
I'm a big fan of online coupon web sites, and I keep a list of them in a "favorites" folder so that I can access them easily. It's definitely worth the time to take a quick look for a code. Some stores never have codes, but it's all free information. Another site that I use a lot is CouponHeaven.com. They have some exclusive codes, including exclusive
GoDaddy coupon codes and an exclusive
Snapfish coupon code (which have both been mentioned here).