Great tips! The better part of it, you can also do these activities with your family during weekends. We normally go to the park for a picnic or kite flying, borrow DVDs from the public library if we would like to have a DVD marathon, or visit the museums in town. These activities do not only save us a lot of money but also educates my children and keeps our family bonded.
A big problem is that too many sellers (for whatever reason) paid too much for their houses in 2006, and understandably chafe at the prospect of losing thousands of dollars because buyers are unwilling to make the same mistake. On the other hand, it is unreasonable to expect buyers to make the same mistake as they did.
"That way, we could set the rents high enough so that we could weed out many of the potentially troublesome tenants simply because they couldn't afford to live there." Equating income to character quality is offensive, and says that great tenants who make less money do not deserve a nice home.
Landlords have a tendency to be short-sighted when screening tenants. First, some of them rely on a credit report which fails to tell them the most important things they want to know about a prospective tenant, that is, if they are quiet and clean. Secondly, they reject great tenants who are savvy about landlord/tenant laws. A great tenant should have corresponding expectations of the landlord, and landlords should show appreciation for great tenants. Too many landlords are more interested in moving as much money as possible from the tenant's pocket to the landlord's pocket.
Landlords tell stories of terrible tenants and some are true. By the same token, there are plenty of terrible landlords, especially now. Many of them buy a fixer for too much money, fix it up only minimally, and rent out a crummy rental they themselves would not want to live in (the Golden Rule applies) for way too much money. They console themselves that tenants must be happy with the rent because they signed the agreement, conveniently forgetting that housing is not like a book. I can live without the book, but I have to put a roof over my head.
Some landlords try to illegally make part of the security deposit nonrefundable by putting illegal provisions into the agreement, such as the tenant must pay for carpet shampooing and cleaning or have it taken out of the deposit. Sometimes they make it pretty clear they have their eyes on the deposit when they want to charge a longtime clean, quiet tenant an extra deposit to have a pet. No wonder such otherwise great tenants want to avoid the hassle of a deposit dispute after they have moved (possibly out of the city or state) by simply not paying last month's rent.
If you are getting tenants who routinely trash your house, you might want to self-examine not only your screening techniques, but your attitude toward the tenant.
I learnt this lesson a funny way. I had renters insurance and was considering to scratch it when something happened to property and I had a lot lost / damaged. Insurance payment was $7 500 which did not only cover everything I lost but provided me with enough money to purchase rental insurance for many years to come. After this incident I am insurance junky - whenever there is a possibility to insure something I'm for it!
Too bad its Jerry Baker's recipe from 25 years ago.Yah know that nutty guy who was a renowned gardener always mixing up things to use in the garden.He also said metal things were good cause the static electricity from storms would super charge the plants even more when storms passed by..
When I had roomies (up to five) we did several things to make the set up run smoothly. One person's name was on the lease. Rent was paid directly to our landlord and landlady just down the block (cool older couple) in cash/individual checks. We kept "the jar" for shared expenses. When TP or dish soap was low, one of us would mention it's time to fill the jar and each of us would put in a dollar. Then one of us would pick it up during their next shopping trip, depositing the receipt and any change back into the jar. We rotated tidying up common areas (bathroom, kitchen and living room), by month and each of us was responsible for our own sleeping spaces. As our schedules were so vastly different, we made a point to have a meal together once a month, each of us taking turns cooking. This gave us time to hash out any glitches in the arrangement. We each had separate spaces for food products in the fridge and pantry and did not eat from each other's stash unless invited. We also kept accountable to one another regarding safety. If one of us were to be out after midnight, we'd call in. We tried to resolve personal issues between the two individuals before it became a big thing involving the other roomies. Even though our personalities were vastly different, the arrangement worked in it's many configurations over the years.
The article assumes there is no value in having the TV (or other item) to use during the 5 years when he could save the money. Using the above approach one can never by any technology becuase if you wait 5 years it'll be chaper. Of course by then the newer equipment has made the older obsolete, so you need the newer, but you should wait 5 years so you can buy that cheaper?
Now if Dan really was strapped buying something he couldn't really afford is a differnt issue. But the "waiting" and placing zero value on the use of something is false.
As far as middle class 'status' goes, I've only felt conspicuous when I'm in the wrong company. Funny, these kind are usually cash poor and in a lot of debt due to entitlement issues versus low motivation to work smart. These are always complaining about little money and making more than double my income teetering on the brink of being fired for low performance. The have-nots are just as cash strapped but many spend whatever extra cash they come into on the next expensive thrill item and return to their constant state of need -- utilities go unpaid sometimes because they needed a new gaming system.
I've dealt with both worlds. The only way for me to be okay is to never discuss money, except when I need to decline a get-together because it's financially impossible. Living a simple, less extravagent life -- well kept little house full of older furiture and just the basics as electronics -- keeps the serial borrowers away as well.
I've found a soft-spoken frugality to be the best approach at work. After one gets to know their coworkers, you know who would like to discuss the best frugal reads and best places to shop. We will all be sitting in the breakroom eating leftovers for lunch and keep snacks/drinks in the refrigerator.
When carless, one makes a bad impression for asking for a lot of favors - like rides home unless they offer to carpool/chip in for gas.
Another too-cheap mistake is shabby/wornout work attire - stains, brown dragging hems, bulging seams, pileds on sweaters, rubbed out thighs and thread bare anything. This will negatively affect employment.
Used cell products crowd ebay with good deals if one thinks paying for internet on a cell is worth the expense. However, data plan prices have become too expensive for some.
Keeping the party out of my home keeps prying eyes and intrusive questions away.
If I was Dan I'd go out and buy a brand new 80" flat screen just to piss (my so called friend) Kentin Waits off. Go for it Dan, enjoy your life, enjoy watching big blockbusters on a massive screen right on your living room, you only live once. I learned a long time ago NOT to be controlled by number crunching myopics who want me to wait 10 years before I go out and do the things I want to. Life isn't about being sensible, its about being HAPPY.
Sure, it'd be dumb to invest much time in a relationship where you're deliberately misleading your potential partner about who you are and how you live. But I think it makes a lot of sense to manage the information flow, especially if your living situation is extremely frugal.
I mean, you could spin a lifestyle where you have no fixed abode but move from one housesitting gig to another as something exotic and interesting enough for a first date. But I can see wanting to wait for a third date before mentioning that you live in an RV or singlewide or a yurt or that you rent a nice basement room from a widow.
It's not that there's anything wrong with any of those. Nor is there anything wrong with a potential life partner deciding that your lifestyle isn't one they want. But if you're going to be rejected for your lifestyle, it'd be nice if you were rejected based on a actual evaluation of that lifestyle, and not a cultural stereotype that may not even apply.
My point is, I can see wanting to give somebody a little time to see that you're not crazy, and only then show them any aspects of your life that might make the jump to the conclusion that you're crazy.
Since I get paid twice a month, often payday falls on a Friday (one reason to love Friday the 13th!). If I have any cash in my wallet on a Friday payday, I take it out and set it aside. Every few months I take that stash and add it to my savings account. That's my Frugal Friday. :-)
I've tried these and #2, works best because it's not "all in one's head". Personally, I find that running a fan works well because it cools down the body temperature (simulates nighttime), creates white noise to block out all those things you can't turn off (noisy neighbors, the dryer/dishwasher, crickets, tv in the next room, pets, etc.), and moves fresh air toward you. Serious breathing issues should be dealt with via a professional system like a CPAP, but a fan is good enough for those 'suffocating' in a mountain of squishy pillows and blankets.
PS: I always sleep better camping and the fan trick does a lot to simulate it. Does anyone else sleep better camping to? I know the ground can be hard but people always say, "I slept like a rock."
I went to an urgent care facility. I knew what was wrong and what treatment I needed. I had a chest cold, have athsma and when I get a chest cold all I need is an inhaler to keep my bronchial ways open. Walked in, explained the problem, saw a nurse practitioner, she authorized a nebulator treatment, gave me a prescription for an inhaler. I was there LESS than an hour all together, 20 minutes of which were with the front desk filling out insurance info, ten minutes waiting to see the NP, ten minutes using the nebulizer, another ten waiting for them to come back to the treatment room and the last ten getting the presription and leaving. Cost? $495.00! This is the most outrageous abuse of bill padding I have ever seen. WILL NEVER GO AGAIN, they are rip offs. No wonder America can't afford health care, it is licensed stealing!
I had the same question ... I've been focusing so tightly on rejecting the standard middle-class life that I drew a blank when trying to imagine why one might want to pretend to it.
Deborah's comment was instructive in that regard; I can grok that situation, even though it doesn't really work like that for me, with my personality -- I've never been the 'fly-under-the-radar' type, and would rather be open about my values and lifestyle, even if it keeps me from being liked by my coworkers, or succeeding in workplace politics.
I can also see the point about kids; although again, I'd come down overwhelmingly on the side of not-catering (and the whole discussion makes me want to write a blog post about alternatives), I have some sympathy for that position.
I disagree about dating, though. Sure, unless you're self-employed or a small-business owner, you don't get to choose your coworkers. But you do get to choose your romantic partners, so why not be honest about who you are and what you believe in? I see no benefit in starting a relationship by pretending to a lifestyle and values that you neither hold nor wish to hold in future.
One point to add about capital gains tax on a future sale of a rental. Your cost basis on the home decreases every year you file a return because you are "depreciating" the home (not the land). The IRS is going to recapture the value of the depreciation when you sell. The final tax bill is going to include a whole more than just capital gains...cost basis decreases, capital gains increases!
Great tips! The better part of it, you can also do these activities with your family during weekends. We normally go to the park for a picnic or kite flying, borrow DVDs from the public library if we would like to have a DVD marathon, or visit the museums in town. These activities do not only save us a lot of money but also educates my children and keeps our family bonded.
Pine nuts are even tastier than macadamia nuts. Just get the Italian ones!
A big problem is that too many sellers (for whatever reason) paid too much for their houses in 2006, and understandably chafe at the prospect of losing thousands of dollars because buyers are unwilling to make the same mistake. On the other hand, it is unreasonable to expect buyers to make the same mistake as they did.
"That way, we could set the rents high enough so that we could weed out many of the potentially troublesome tenants simply because they couldn't afford to live there." Equating income to character quality is offensive, and says that great tenants who make less money do not deserve a nice home.
Landlords have a tendency to be short-sighted when screening tenants. First, some of them rely on a credit report which fails to tell them the most important things they want to know about a prospective tenant, that is, if they are quiet and clean. Secondly, they reject great tenants who are savvy about landlord/tenant laws. A great tenant should have corresponding expectations of the landlord, and landlords should show appreciation for great tenants. Too many landlords are more interested in moving as much money as possible from the tenant's pocket to the landlord's pocket.
Landlords tell stories of terrible tenants and some are true. By the same token, there are plenty of terrible landlords, especially now. Many of them buy a fixer for too much money, fix it up only minimally, and rent out a crummy rental they themselves would not want to live in (the Golden Rule applies) for way too much money. They console themselves that tenants must be happy with the rent because they signed the agreement, conveniently forgetting that housing is not like a book. I can live without the book, but I have to put a roof over my head.
Some landlords try to illegally make part of the security deposit nonrefundable by putting illegal provisions into the agreement, such as the tenant must pay for carpet shampooing and cleaning or have it taken out of the deposit. Sometimes they make it pretty clear they have their eyes on the deposit when they want to charge a longtime clean, quiet tenant an extra deposit to have a pet. No wonder such otherwise great tenants want to avoid the hassle of a deposit dispute after they have moved (possibly out of the city or state) by simply not paying last month's rent.
If you are getting tenants who routinely trash your house, you might want to self-examine not only your screening techniques, but your attitude toward the tenant.
Not usually - I am an introvert!
I learnt this lesson a funny way. I had renters insurance and was considering to scratch it when something happened to property and I had a lot lost / damaged. Insurance payment was $7 500 which did not only cover everything I lost but provided me with enough money to purchase rental insurance for many years to come. After this incident I am insurance junky - whenever there is a possibility to insure something I'm for it!
Investing / starting a small business seems to be a wise choice to me since it brings extra income (and more taxes... but that is another story)
Too bad its Jerry Baker's recipe from 25 years ago.Yah know that nutty guy who was a renowned gardener always mixing up things to use in the garden.He also said metal things were good cause the static electricity from storms would super charge the plants even more when storms passed by..
Read Jerry Baker's lawn book. I've been doing this for years. And yes, it works. Most importantly is that your lawn needs water!
Yes having your own business is not easy one must work hard to do it
Efrain
When I had roomies (up to five) we did several things to make the set up run smoothly. One person's name was on the lease. Rent was paid directly to our landlord and landlady just down the block (cool older couple) in cash/individual checks. We kept "the jar" for shared expenses. When TP or dish soap was low, one of us would mention it's time to fill the jar and each of us would put in a dollar. Then one of us would pick it up during their next shopping trip, depositing the receipt and any change back into the jar. We rotated tidying up common areas (bathroom, kitchen and living room), by month and each of us was responsible for our own sleeping spaces. As our schedules were so vastly different, we made a point to have a meal together once a month, each of us taking turns cooking. This gave us time to hash out any glitches in the arrangement. We each had separate spaces for food products in the fridge and pantry and did not eat from each other's stash unless invited. We also kept accountable to one another regarding safety. If one of us were to be out after midnight, we'd call in. We tried to resolve personal issues between the two individuals before it became a big thing involving the other roomies. Even though our personalities were vastly different, the arrangement worked in it's many configurations over the years.
The article assumes there is no value in having the TV (or other item) to use during the 5 years when he could save the money. Using the above approach one can never by any technology becuase if you wait 5 years it'll be chaper. Of course by then the newer equipment has made the older obsolete, so you need the newer, but you should wait 5 years so you can buy that cheaper?
Now if Dan really was strapped buying something he couldn't really afford is a differnt issue. But the "waiting" and placing zero value on the use of something is false.
As far as middle class 'status' goes, I've only felt conspicuous when I'm in the wrong company. Funny, these kind are usually cash poor and in a lot of debt due to entitlement issues versus low motivation to work smart. These are always complaining about little money and making more than double my income teetering on the brink of being fired for low performance. The have-nots are just as cash strapped but many spend whatever extra cash they come into on the next expensive thrill item and return to their constant state of need -- utilities go unpaid sometimes because they needed a new gaming system.
I've dealt with both worlds. The only way for me to be okay is to never discuss money, except when I need to decline a get-together because it's financially impossible. Living a simple, less extravagent life -- well kept little house full of older furiture and just the basics as electronics -- keeps the serial borrowers away as well.
I've found a soft-spoken frugality to be the best approach at work. After one gets to know their coworkers, you know who would like to discuss the best frugal reads and best places to shop. We will all be sitting in the breakroom eating leftovers for lunch and keep snacks/drinks in the refrigerator.
When carless, one makes a bad impression for asking for a lot of favors - like rides home unless they offer to carpool/chip in for gas.
Another too-cheap mistake is shabby/wornout work attire - stains, brown dragging hems, bulging seams, pileds on sweaters, rubbed out thighs and thread bare anything. This will negatively affect employment.
Used cell products crowd ebay with good deals if one thinks paying for internet on a cell is worth the expense. However, data plan prices have become too expensive for some.
Keeping the party out of my home keeps prying eyes and intrusive questions away.
I also follow on Facebook.
I have never been to a networking event.
Thanks for being brave to share your story!
If I was Dan I'd go out and buy a brand new 80" flat screen just to piss (my so called friend) Kentin Waits off. Go for it Dan, enjoy your life, enjoy watching big blockbusters on a massive screen right on your living room, you only live once. I learned a long time ago NOT to be controlled by number crunching myopics who want me to wait 10 years before I go out and do the things I want to. Life isn't about being sensible, its about being HAPPY.
I make quinoa all the time with fresh veggies and a tangy sauce.
Sure, it'd be dumb to invest much time in a relationship where you're deliberately misleading your potential partner about who you are and how you live. But I think it makes a lot of sense to manage the information flow, especially if your living situation is extremely frugal.
I mean, you could spin a lifestyle where you have no fixed abode but move from one housesitting gig to another as something exotic and interesting enough for a first date. But I can see wanting to wait for a third date before mentioning that you live in an RV or singlewide or a yurt or that you rent a nice basement room from a widow.
It's not that there's anything wrong with any of those. Nor is there anything wrong with a potential life partner deciding that your lifestyle isn't one they want. But if you're going to be rejected for your lifestyle, it'd be nice if you were rejected based on a actual evaluation of that lifestyle, and not a cultural stereotype that may not even apply.
My point is, I can see wanting to give somebody a little time to see that you're not crazy, and only then show them any aspects of your life that might make the jump to the conclusion that you're crazy.
Since I get paid twice a month, often payday falls on a Friday (one reason to love Friday the 13th!). If I have any cash in my wallet on a Friday payday, I take it out and set it aside. Every few months I take that stash and add it to my savings account. That's my Frugal Friday. :-)
I've tried these and #2, works best because it's not "all in one's head". Personally, I find that running a fan works well because it cools down the body temperature (simulates nighttime), creates white noise to block out all those things you can't turn off (noisy neighbors, the dryer/dishwasher, crickets, tv in the next room, pets, etc.), and moves fresh air toward you. Serious breathing issues should be dealt with via a professional system like a CPAP, but a fan is good enough for those 'suffocating' in a mountain of squishy pillows and blankets.
PS: I always sleep better camping and the fan trick does a lot to simulate it. Does anyone else sleep better camping to? I know the ground can be hard but people always say, "I slept like a rock."
I went to an urgent care facility. I knew what was wrong and what treatment I needed. I had a chest cold, have athsma and when I get a chest cold all I need is an inhaler to keep my bronchial ways open. Walked in, explained the problem, saw a nurse practitioner, she authorized a nebulator treatment, gave me a prescription for an inhaler. I was there LESS than an hour all together, 20 minutes of which were with the front desk filling out insurance info, ten minutes waiting to see the NP, ten minutes using the nebulizer, another ten waiting for them to come back to the treatment room and the last ten getting the presription and leaving. Cost? $495.00! This is the most outrageous abuse of bill padding I have ever seen. WILL NEVER GO AGAIN, they are rip offs. No wonder America can't afford health care, it is licensed stealing!
I had the same question ... I've been focusing so tightly on rejecting the standard middle-class life that I drew a blank when trying to imagine why one might want to pretend to it.
Deborah's comment was instructive in that regard; I can grok that situation, even though it doesn't really work like that for me, with my personality -- I've never been the 'fly-under-the-radar' type, and would rather be open about my values and lifestyle, even if it keeps me from being liked by my coworkers, or succeeding in workplace politics.
I can also see the point about kids; although again, I'd come down overwhelmingly on the side of not-catering (and the whole discussion makes me want to write a blog post about alternatives), I have some sympathy for that position.
I disagree about dating, though. Sure, unless you're self-employed or a small-business owner, you don't get to choose your coworkers. But you do get to choose your romantic partners, so why not be honest about who you are and what you believe in? I see no benefit in starting a relationship by pretending to a lifestyle and values that you neither hold nor wish to hold in future.
One point to add about capital gains tax on a future sale of a rental. Your cost basis on the home decreases every year you file a return because you are "depreciating" the home (not the land). The IRS is going to recapture the value of the depreciation when you sell. The final tax bill is going to include a whole more than just capital gains...cost basis decreases, capital gains increases!