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Old 08-02-2014, 12:37 PM   #21
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We pretty much have stopped saving on things yet lbym in spite of it.

I haven't sent you my bill yet, Missy.
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Old 08-02-2014, 12:59 PM   #22
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I save on cars and I paid my small condo cash (bought below my means and no mortgage).
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Old 08-02-2014, 01:00 PM   #23
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Originally Posted by steelyman View Post
I haven't sent you my bill yet, Missy.
No worries. We have a special line item for you, SM.
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Old 08-02-2014, 01:05 PM   #24
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No worries. We have a special line item for you, SM.

Ha! Better not put a "&" in between the "SM" or they'll be hanging over the fences!
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Old 08-02-2014, 01:12 PM   #25
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Ha! Better not put a "&" in between the "SM" or they'll be hanging over the fences!
Oh, that's a different line item. It put the "m" in "lbym".
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Old 08-02-2014, 01:15 PM   #26
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Oh, that's a different line item. It put the "m" in "lbym".

We'll get a conga line going at E-R.org
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Old 08-02-2014, 01:33 PM   #27
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No cable.
Low internet fee.
Phone (no cell phone until last month), basic safety home phone line
Little to no investment fees (i.e. no commissions, low expense ratio, no advisor)
Credit cards (all give rewards)
Banking (no fees)
Free travel (people invite me places and pay for my travel)
Utilities low because keep A/C at 80, heat at 65
Do own yardwork
Health: Haven't been to physician in 3 years
Drugs: Don't take any.
Home: Do all repairs myself
Taxes: Do my own taxes, pay at low effective rate due to understanding tax laws

What do I spend money on:
Nice car once every 12-15 years or so.
Eating out: about 4 times a week in a sit-down restaurant

Things spouse insists on, but does not use:
Daily newspaper
Gym membership
Excellent list! The last part made me LOL!
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Old 08-02-2014, 01:40 PM   #28
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Don't buy random s***
Buy inexpensive clothes rarely
Eat out only 1-2x/month
Costco for necessities
No cable
Cheap MVNO phones
Cheap index funds
Drive older cars
CC purchases end up paying for domestic flights
Do own yardwork
Eat healthy and exercise to prevent expensive preventable diseases
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Old 08-02-2014, 02:31 PM   #29
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I am the most careful about anything that is a recurring expense. For example, I don't have a cable or a contract cell phone. It seems to me that it is easy to allow these relatively small recurring expenses to add up and eat into the monthly spending plan.

On the other hand I do have a newspaper subscription since the newspaper and a leisurely cup of coffee in the morning is one of my joys of retirement.


Sent from my iPad using Early Retirement Forum
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Old 08-02-2014, 06:31 PM   #30
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Rarely bathe. Drink Sterno straight from the can.
We have a winner!
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Old 08-02-2014, 07:09 PM   #31
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Still have a dumbphone which I will switch to PagePlus later this month (thanks to the forum !).

Groceries. I stock up when items are buy-one,get-one and I never buy meat at full price.

We have three TVs but only one cable box. The other two get "basic whatever" which is good enough for the lanai and the kitchen. One of the TVs was free (a hand me down), the other was $99 on sale.

DH would love to have a pool. BTDT - ummmmmm, never again. We have two pools in the community and they are both very nice, and almost always have less than 20 people at them !

Slower internet speed. I remember dial-in networks, so anything faster than that is good enough for me !

Entertainment. Library books, walks or bike rides in the parks, playing with my dog or my bird, birdwatching with the Audubon society.

But all of that pales with the most significant item I've saved on -- home decor. My house is nearly spartan. I have comfortable furniture (leather reclining sofa set and sleep number bed) but I don't have any knick knacks outside of the very inexpensive souvenirs I've bought from my (infrequent) travels. I visit friends, relatives and neighbors and cannot imagine how much they've spent on making their home look like its straight from a magazine. It's beautiful and it works for them, but its not my thing.
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Old 08-02-2014, 07:17 PM   #32
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I don't smoke.
I don't drink.
I work as much as I can at every side gig I can fit in my schedule. It increases my means.
I clip my dog myself.
Walmart Family mobile phone service.

I use coupons virtually everywhere. I rarely eat at a restaurant without a coupon.
Red Lobster or Outback Steak house is an extravagant meal. Almost always .10 off on gas. Always haircut coupons.

I use cash back credit cards. I have two, and use the 5% categories for each one. restaurants and gas.

I do my own taxes.

I let my grass grow as long as I can. Then I have a 23 HP mower that will cut anything. No one puts "He has the best lawn in town" on your headstone.

I have several (24) rentals. I do my own management and maintenance.

I buy new cars and run them for 13+ years. I shop hard for them, and buy a Honda Civic. Low end one.

I never pay interest, unless on a mortgage.

There are probably lots more, but here are a few.
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Old 08-02-2014, 07:20 PM   #33
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I think it was a joke. I hope so anyway.
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Originally Posted by ejman View Post
We have a winner!
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Old 08-02-2014, 07:44 PM   #34
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I think it was a joke. I hope so anyway.
I'm certain it was a joke. Sterno should be filtered through cheesecloth (or a well used dryer sheet) and served in a brandy snifter for maximum enjoyment.

-ERD50
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Old 08-02-2014, 07:49 PM   #35
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I think it was a joke. I hope so anyway.
I lied about the bathing.
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Old 08-02-2014, 08:12 PM   #36
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Rather than any one specific thing, since I see a wide gamut in the responses, what I conclude is that LBYM people make conscious decisions about what their priorities are and they realize they can't "have it all". So they make choices about what is and is not important to them.

For a lot of people here, travel is a priority so they spend on that and don't spend on other things, like high-end furniture and cars or dining out. Someone else might have a high-end car but not care so much about travel.

Bur I doubt anyone here has a mcmansion, takes several cruises a year, dines at high-end restaurants at least weekly, buys a new car every other year and has a extensive jewelry collection. Some might do one or a couple of those things, but not all. At least that's the sense I get from it.
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Old 08-02-2014, 08:16 PM   #37
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I get up real early and read the neighbor's newspaper, then put it back in his driveway before he gets up. The exercise is a bonus as sometimes I have to run to put it back when I see his lights go on.

I buy gift cards for places I know I will use from online sites that sell them at a discount - even more savings than if I use the 6% I get with the Amex Blue Cash Preferred card at grocery stores. Home Depot - 11% off. RiteAid - 9% off.

You can get T-shirts at thrift shops 12 for a buck. Sure, it might say "Springfield State 1984 Chugging Team" on it, so what? Just throw them out when they are dirty. It's cheaper than paying to wash and dry them.

I wait until my neighbor goes on vacation before doing the projects that need a lot of power tools, he has a handy outlet on his back porch and I have a long extension cord.

Know how retailers mark down prices and what the price codes mean (example: at Target, if the price ends in 8, it will get marked down again if they don't all sell. If it ends in a 4, that's as low as it will go.)

Five minutes with a light mahogany wood stain... no need for a tanning salon.

Dental floss will last for at least 3-4 uses.

Funeral home has a viewing let's say on Monday and Tuesday, funeral on Wednesday. Check the dumpster after closing time on Wednesday. Nice flowers, and they only got delivered on Monday - still fresh.

When it's hot and sunny, you can put a baking sheet of cookies on your dashboard, park in the sun, and not have to turn on the oven.
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LBYMs what do you save on?
Old 08-02-2014, 08:25 PM   #38
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LBYMs what do you save on?

Hey! Don't disrespect the Springfield State 1984 Chugging Team!

Great post
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Old 08-02-2014, 09:08 PM   #39
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What I spend less on than most people (I think):

* Cars: We do not buy the cheapest cars, but I drive mine to the ground and do my own maintenance. Cars stopped exciting me more than two decades ago.

* Home maintenance: I do my own yardwork, plumbing work, etc..., as much as I can.

* Eating out: When we eat out, it is usually on travel or to some special restaurants. We prefer home cooked meals to restaurants, my wife even more so than I am. I will not eat out everyday even if somebody pays for the meal, no matter how fancy a restaurant. Just the hassle of going out to eat often turns us off.

* Entertainment: I cannot remember the last time we went to a night club or concert (15-20 years ago?), heck even the normal movie theaters (7-10 years ago?). It's not the money, but we no longer enjoy it. Nowadays we both spend more time on the Web. We still have DirectTV even though the TVs in the metropolitan home have not been turned on for months. I keep DirectTV because we do watch it when up in the boonies home which lacks high-speed Internet. It has been years since we watch any regular show on TV.

* Electronic toys: I have several PCs, but they are 3-5 years old, and were bought back when I was using them for income-producing work and were tax deductible. Now that I no longer work, my expense for computer stuff is minimal except for the high-speed cable modem. I only recently had an iPhone, a hand-me-down 3GS that my daughter upgraded from. We do not watch much TV, so still have our HD TVs that are several years old. Here again, it's not so much the money but I have become much less interested in gadgets.

In contrast with the above, I spend a lot for a 2nd home and travel. I am back up to my high-country home at 7000 ft, from where I am posting this. Both homes just cost me $20K recently for maintenance work. In a few years, I may need to do something about the rest of the boonies home stained lap siding and the large deck, which may cost $30-40K. But it is all worth it, as we are both homebodies when we are not on travel. Oh, and don't get me started on travel.

So, what we splurge on costs more than what we save, but at least we are not spending money on what we do not enjoy.

Quote:
Originally Posted by travelover View Post
Rarely bathe. Drink Sterno straight from the can.
Now we know how you pay for your love of travel.

And I need to see which tips from prudent_one I can adopt.
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Old 08-02-2014, 09:23 PM   #40
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Funeral home has a viewing let's say on Monday and Tuesday, funeral on Wednesday. Check the dumpster after closing time on Wednesday. Nice flowers, and they only got delivered on Monday - still fresh.
Funeral homes are also a great place to get dentures. You might have to try on a few pair before you find the pair the fits right, but for pennies on a dollar you can have a new set of teeth.
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