I think you are trying to stir a big debate here. I understand that you can save big if you don't have a mortgage or rent. However, this may be one of the best times to have a mortgage and buy your home. House prices are still low and mortgage rates are not going to get any lower. Think it as an investment for the future and secure your home. Cars as well another area. Many people live with a dream to drive their ideal automobiles. I don't think you can pursuade many people to drive a 20 year old car. What I think is stupid is to buy a sports car for a 16 year old. They are the riskiest drivers and giving them a sports car will make it even riskier. On top of it you will need to be slaving away to pay the auto insurance premium if you can get it insured at all.
I don't agree with not paying for your children's school fees. I would do anything for them. But I totally agree with not having big weddings or spending money for funerals. What is the point of inviting hundreds of people to a wedding when only handfull of them are your real friends and family? I don't have cable and don't intend to have.
We have paid off our house and cars. We get paid once a month and after paying our bills such as utilities, ins, and cable we get the rest of our pay check out of the bank in cash each month. This way we have to really think about any purchases we make and see the balance of our money going down if we use it. We never go to the mall unless there is a item we Need on sale. Then we buy that item and leave. We do not shop for more than we came for. 20 years ago we used the mall as entertainment and spent more than we made. Now we are debt free and enjoy a night at home reading. If there is a "big ticket" item we need we save for it and pay cash. We never use our credit cards for immediate gratification. We HATE spending money and we are happier!
Just to offer a counter perspective... Since graduating from college 4 years ago, I've found 3 jobs that all provided free room and board. It was one of the main reasons I decided to take those jobs in fact. I'm an English as a second language teacher and I've been fortunate enough to work in China, South Korea, and Japan. All three companies not only paid for my room and board but they also paid for my round trip flight as well as other benefits. In China particularly, I was able to save a lot of money. These were all great jobs for someone who was right out of college and I got to do an incredibly amount of traveling in the mean time.
I'm currently back in school working on my MA in teaching English as a second language and my plan is to go work in Dubai where they also provide free housing and flight reimbursement. I should also add that there is no income tax there.
I'm not saying this article was full of brilliant tips for saving on the necessities of life, I'm just saying that it is possible but I had to be flexible and creative.
I still use a local bank but I have been thinking of adding an online bank because their money market rates are better than what I am currently getting. I enjoyed reading all the comments.
Not sure I'd say these are things you "easily" get rid of. Housing and a car would be better off in a list of things you can get rid of with a significant amount of effort.
There is a new app for your phone called Viber that lets you make international calls and video calls, and you can get video games and movies from your local public library! I am also a member of Checkout51, save.ca, Zweet and Snap by Groupon, apps which when you take a picture of your receipt, can reimburse you for any items that are featured that week!
This article is the biggest reminder of the dangers in giving a voice and an audience to any unqualified person who can string together a sentence. The author is well-intentioned, but to suggest people get student loans to pay for housing is a giant red flag as to the lack of financial acumen from the writer. All loans have to be paid back, student loans more than any other type of loan. Taking out extra student loans to pay for housing is not frugal, but foolish. Share a room with a person or two (instead of having your own room) is frugal. But to sacrifice your future financial well-being? No, no. Additionally, in my ten years since graduating college, I have yet to find a job posting that, along with traditional benefits, offers free room and board.
But the most foolish, dangerous comment of all is to genuinely advice women to, oh, just have a home birth, as it if was the same as eating at home or going out to dinner. To preface is with "I know nothing about this" should be a huge red flag to the author herself not to write about the subject at all, particularly in such a flippant manner.
Yet, we live in a world where our opinions must be shared, our thoughts disseminated no matter their weight, value or relevance. We live in an age where websites will pay pennies for words strung together rather than insightful pieces. And then idiots like me sit here, appalled, attempting to make sense of why? Why would this person write about something she is so magnificently unqualified to discuss? Why would intelligent friends of mine share this drivel?
Great List! I'd like to share one of my other ways to keep costs down is to buy a "Set" item. For example, I have 4 coworkers... I keep my eye out near holiday time for a gift item that comes in a set of 4 (or more). Something gifty (and useful) that can be repackaged as an individual item; and usually with sales and such, the cost comes down much more than $4-5 each (sometimes as low as $3) but the quality of item is often better and more interestingly designed than a single gift item for that same price. Also, I choose sets that feature different colors or designs, so everyone gets to "marvel" at their color, etc... And once I even left a pile on the breakroom table to "pick one". Just makes for a nice way to give a simple and cheap gift.
The wi-fi phones are amazing! I agree that there is no one-size, fits all solution for internet. It seems like you are being smart and considering "value" over price!
Thanks for your comment. This is exactly what we plan on doing with our kids. Not everyone is destined to be a doctor, and there are plenty of trade schools that offer real-life career training for a fraction of a private college price tag!
"10 Big Expenses You Can Easily Get Rid Of", and number 1 is Housing? The solution proffered are live with relative, get a job with free housing, use a student loan to pay for it, or hell, just refinance. These are all incredibly NOT easy, or wholly unrealistic.
Please, if you're going to be so lazy as to write a listicle, at least write one that is rational.
I went the opposite way with internet. We have a stay-at-home parent so we pay more for internet, but my husband doesn't use a cell and I use one that uses wifi when available. Last month my bill was ~ $15. Cheaper for us than some friends I know that pay outrageous "unlimited" cell bills.
Please don't talk about the savings of home birth without talking about the risks and potential costs. If you are insured, a midwife will be more expensive than the copays. If you end up having complications, you will not only be on the hook for the midwife and all of the cleanup required, but will also be on the hook for an ambulance ride, the hospital and obgyn costs (except instead of standard costs you will have emergent costs) and the potential costs the NICU and ongoing costs of a brain damaged baby. Home birth babies are 18x more likely to have brain trauma from lack of oxygen than hospital born babies.
This would be comparable to saying a way to save on costs is to drive home drunk instead of taking a cab. Technically accurate but significantly risky.
Very interesting post. I have a nice car, but I still love using public transport! The reason is, it is impossible to find parking in Chicago and even if I do find parking, it costs up to $50! I'm not a bus fan, but I LOVE riding the Metra and CTA trains. When travelling within the US, I try to take the Amtrak - it's so cheap and quick.
Great entry Paul. One way I’m always able to save money on gift wrap, in addition to checking out the dollar stores as you suggest, is to purchase my wrapping materials a year in advance by picking up a bunch after the holidays when they go on clearance.
Interesting points Linsey. Expanding on your comments with regards to education, I don’t think many people realize the savings to be had just by encouraging your child to look into community colleges. Chances are your son or daughter isn’t 100% sure on what they want their major to be and even if they do they could change their mind at a moments notice. By going to a community college, they can explore their interests and see which major might fit them best all while saving tens of thousands of dollars. Plus after two years they can still transfer to the four-year institution of their choice!
I've never used an online bank, but I understand some of them are quite good, and offer benefits not available through traditional brick-and-mortar banks.
I use emigrantdirect and so easy to use.
I think you are trying to stir a big debate here. I understand that you can save big if you don't have a mortgage or rent. However, this may be one of the best times to have a mortgage and buy your home. House prices are still low and mortgage rates are not going to get any lower. Think it as an investment for the future and secure your home. Cars as well another area. Many people live with a dream to drive their ideal automobiles. I don't think you can pursuade many people to drive a 20 year old car. What I think is stupid is to buy a sports car for a 16 year old. They are the riskiest drivers and giving them a sports car will make it even riskier. On top of it you will need to be slaving away to pay the auto insurance premium if you can get it insured at all.
I don't agree with not paying for your children's school fees. I would do anything for them. But I totally agree with not having big weddings or spending money for funerals. What is the point of inviting hundreds of people to a wedding when only handfull of them are your real friends and family? I don't have cable and don't intend to have.
We have paid off our house and cars. We get paid once a month and after paying our bills such as utilities, ins, and cable we get the rest of our pay check out of the bank in cash each month. This way we have to really think about any purchases we make and see the balance of our money going down if we use it. We never go to the mall unless there is a item we Need on sale. Then we buy that item and leave. We do not shop for more than we came for. 20 years ago we used the mall as entertainment and spent more than we made. Now we are debt free and enjoy a night at home reading. If there is a "big ticket" item we need we save for it and pay cash. We never use our credit cards for immediate gratification. We HATE spending money and we are happier!
No, although I've thought about using one for savings.
Stand up straight!
Hello,
I'm curious to know why turning around guests every 3 to 5 nights means "big money" I don't get that?
Also, wondering your thoughts about "cleaning fees" and how much to charge for that, if you do recommend it?
I use capital one 360 and it's great.
Yes I do!
Just to offer a counter perspective... Since graduating from college 4 years ago, I've found 3 jobs that all provided free room and board. It was one of the main reasons I decided to take those jobs in fact. I'm an English as a second language teacher and I've been fortunate enough to work in China, South Korea, and Japan. All three companies not only paid for my room and board but they also paid for my round trip flight as well as other benefits. In China particularly, I was able to save a lot of money. These were all great jobs for someone who was right out of college and I got to do an incredibly amount of traveling in the mean time.
I'm currently back in school working on my MA in teaching English as a second language and my plan is to go work in Dubai where they also provide free housing and flight reimbursement. I should also add that there is no income tax there.
I'm not saying this article was full of brilliant tips for saving on the necessities of life, I'm just saying that it is possible but I had to be flexible and creative.
I haven't heard from Snap by Groupon, ACG. How does it work?
I still use a local bank but I have been thinking of adding an online bank because their money market rates are better than what I am currently getting. I enjoyed reading all the comments.
Not sure I'd say these are things you "easily" get rid of. Housing and a car would be better off in a list of things you can get rid of with a significant amount of effort.
There is a new app for your phone called Viber that lets you make international calls and video calls, and you can get video games and movies from your local public library! I am also a member of Checkout51, save.ca, Zweet and Snap by Groupon, apps which when you take a picture of your receipt, can reimburse you for any items that are featured that week!
This article is the biggest reminder of the dangers in giving a voice and an audience to any unqualified person who can string together a sentence. The author is well-intentioned, but to suggest people get student loans to pay for housing is a giant red flag as to the lack of financial acumen from the writer. All loans have to be paid back, student loans more than any other type of loan. Taking out extra student loans to pay for housing is not frugal, but foolish. Share a room with a person or two (instead of having your own room) is frugal. But to sacrifice your future financial well-being? No, no. Additionally, in my ten years since graduating college, I have yet to find a job posting that, along with traditional benefits, offers free room and board.
But the most foolish, dangerous comment of all is to genuinely advice women to, oh, just have a home birth, as it if was the same as eating at home or going out to dinner. To preface is with "I know nothing about this" should be a huge red flag to the author herself not to write about the subject at all, particularly in such a flippant manner.
Yet, we live in a world where our opinions must be shared, our thoughts disseminated no matter their weight, value or relevance. We live in an age where websites will pay pennies for words strung together rather than insightful pieces. And then idiots like me sit here, appalled, attempting to make sense of why? Why would this person write about something she is so magnificently unqualified to discuss? Why would intelligent friends of mine share this drivel?
Why, just why?
Great List! I'd like to share one of my other ways to keep costs down is to buy a "Set" item. For example, I have 4 coworkers... I keep my eye out near holiday time for a gift item that comes in a set of 4 (or more). Something gifty (and useful) that can be repackaged as an individual item; and usually with sales and such, the cost comes down much more than $4-5 each (sometimes as low as $3) but the quality of item is often better and more interestingly designed than a single gift item for that same price. Also, I choose sets that feature different colors or designs, so everyone gets to "marvel" at their color, etc... And once I even left a pile on the breakroom table to "pick one". Just makes for a nice way to give a simple and cheap gift.
The wi-fi phones are amazing! I agree that there is no one-size, fits all solution for internet. It seems like you are being smart and considering "value" over price!
Thanks for your comment. This is exactly what we plan on doing with our kids. Not everyone is destined to be a doctor, and there are plenty of trade schools that offer real-life career training for a fraction of a private college price tag!
"10 Big Expenses You Can Easily Get Rid Of", and number 1 is Housing? The solution proffered are live with relative, get a job with free housing, use a student loan to pay for it, or hell, just refinance. These are all incredibly NOT easy, or wholly unrealistic.
Please, if you're going to be so lazy as to write a listicle, at least write one that is rational.
I went the opposite way with internet. We have a stay-at-home parent so we pay more for internet, but my husband doesn't use a cell and I use one that uses wifi when available. Last month my bill was ~ $15. Cheaper for us than some friends I know that pay outrageous "unlimited" cell bills.
Please don't talk about the savings of home birth without talking about the risks and potential costs. If you are insured, a midwife will be more expensive than the copays. If you end up having complications, you will not only be on the hook for the midwife and all of the cleanup required, but will also be on the hook for an ambulance ride, the hospital and obgyn costs (except instead of standard costs you will have emergent costs) and the potential costs the NICU and ongoing costs of a brain damaged baby. Home birth babies are 18x more likely to have brain trauma from lack of oxygen than hospital born babies.
This would be comparable to saying a way to save on costs is to drive home drunk instead of taking a cab. Technically accurate but significantly risky.
Very interesting post. I have a nice car, but I still love using public transport! The reason is, it is impossible to find parking in Chicago and even if I do find parking, it costs up to $50! I'm not a bus fan, but I LOVE riding the Metra and CTA trains. When travelling within the US, I try to take the Amtrak - it's so cheap and quick.
Great entry Paul. One way I’m always able to save money on gift wrap, in addition to checking out the dollar stores as you suggest, is to purchase my wrapping materials a year in advance by picking up a bunch after the holidays when they go on clearance.
Interesting points Linsey. Expanding on your comments with regards to education, I don’t think many people realize the savings to be had just by encouraging your child to look into community colleges. Chances are your son or daughter isn’t 100% sure on what they want their major to be and even if they do they could change their mind at a moments notice. By going to a community college, they can explore their interests and see which major might fit them best all while saving tens of thousands of dollars. Plus after two years they can still transfer to the four-year institution of their choice!
I use my credit union online - checking, savings and loans.
I've never used an online bank, but I understand some of them are quite good, and offer benefits not available through traditional brick-and-mortar banks.