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Savings & cost avoidance...
Old 02-05-2005, 07:57 AM   #21
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Savings & cost avoidance...

... are far more important than earnings.

We've always enjoyed saving. Having to spend money makes it hard to do that, so we're always trying to avoid spending money.

Every time we fix something that could have required a service call it's at least a $50 gain. That makes it easy to appreciate doing the maintenance (instead of the repairs) and spending (where appropriate) to have the right tools for the job.

Avoiding those $50 service calls could probably fund an IRA over the course of a year...
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Re: Financial ducks and stuff
Old 02-05-2005, 08:12 AM   #22
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Re: Financial ducks and stuff

Quote:

Think in terms of your annual electric and heating budget. Then they are basically the same with the cost of inflation added.
Energy prices - coal, gas, oil, nuclear, hydro & wind are not controlled by inflation. Figuring x percent increase a year is not accurate. Its an open market of supply & demand with futures contracts & the weather also plays a part.
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Re: Financial ducks and stuff
Old 02-05-2005, 08:22 AM   #23
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Re: Financial ducks and stuff

Quote:
I agree & also do not subscribe to magazines with automatic renewal or book or cd clubs that send out items for approval.
I stongly agree there. Back before the no-call lists and before I was assertive enough to hang up on sales calls immediately and rudely if necessary, people would push these "free trials" where there was no commitment but you had to explicitly cancel by a certain time. I've always been a procrastinator and know I am the very type of person they would love to have signed up for this scheme. So I avoid these like the plague. (Having to say "no" to them 3 or more times is what led to my assertiveness and rudeness.)

Interesting it's the same reason i did sign up for the autopayments. I've been late on bills many times just by procrastination, even with online banking. Back when I had 3 credit cards running balances and no plan to pay them off I had late fee charges far more times than I care to remember, and I don't think I ever was short the money to pay them on time. I'd like to think I've grown out of it, but this happened just a month ago. At least the electric company penalizes me a dollar or so instead of the $25-$50 some of my cards did.

I can't blame anyone for not liking the autopayment plans. It's like giving them signed blank checks.
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Re: Savings & cost avoidance...
Old 02-05-2005, 08:51 AM   #24
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Re: Savings & cost avoidance...

Quote:

Re: Savings & cost avoidance...

... are far more important than earnings.

We've always enjoyed saving. *Having to spend money makes it hard to do that, so we're always trying to avoid spending money.

Every time we fix something that could have required a service call it's at least a $50 gain. *That makes it easy to appreciate doing the maintenance (instead of the repairs) and spending (where appropriate) to have the right tools for the job.

Avoiding those $50 service calls could probably fund an IRA over the course of a year...
I differently agree.

The first year of retirement I continued having my grass cut by a lawn service. While I had a brand new lawn mower I had purchased years before still in the box. Sometimes while the grass was being cut I was exercising on the treadmill. I now cut it myself & kill 2 birds with one stone. Getting great aerobic exercise, vitamin D & saving money.

I was talking with a financial planner earlier this week. He boasted about being the 4th highest producer in the state & not accepting accounts under 50K. I mentioned that I anticipate needing more income in about two years. That being on a fixed income reducing expenses was a form of income. He did not seem to get the point.
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Re: Financial ducks and stuff
Old 02-05-2005, 09:23 AM   #25
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Re: Financial ducks and stuff

Quote:
I agree & also do not subscribe to magazines with automatic renewal or book or cd clubs that send out items for approval.
If you're going to buy CDs (the music kind) anyways then the CD clubs are a great to way to buy them cheaply if you're smart about it. You, of course get the 11 for the price of 1 (or whatever your intro deal was) but if you wait you will often find them for $1.99 each plus the $2 S&H. That's only $4 for a new CD - better than buying used by a long shot. The clubs don't have everything though so if you want certain kinds of music you are out of luck.

As for the sending stuff out to you for approval you can "cure" them of that. Sometimes you can ask and they will stop but more often you need to just let them send it out and then send it back. Mark it "return to sender" and pop it back in the mail. After a couple of months they stop sending them out until you order them.
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Re: Financial ducks and stuff
Old 02-10-2005, 10:01 AM   #26
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Re: Financial ducks and stuff

Lex,

I have 100% of my reoccuring monthly bills (phone, CC, water, electric etc) paid automatically. I've done this for 10-15 years and never had a problem. BTW, you will give up none of the options that you are concerned about ( you can still go down and complain etc) but your payment will always be paid on the very last day possible.
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