This post is the one I've been wanting to see !-I haven't run into anyone compiling a list of things that you can do to cut your expenses, which can definitely help get a person get to ER!! I now realize that all of the people that have given me some guidance these past couple of weeks has really helped me "get my head on straight", and I know that there are tons more that have their own ideas that can help us all save more, in less time, making the dollar count now so you end up depending on yourself, and not relying on the government handout programs! Reading books are fine, but some are hard to grasp the meaning without a Harvard education. I'm sure that I'm not alone in this. You can only get so much from reading. Education and information are important to everyone here, thats why all the questions are asked! I, for one would like to pick the brains of those out there who have made the mistakes that I don't want to make! Give me even some small bits of information and I promise to pass it on to everyone I know. If this has been posted by someone else, please make me aware. These are some of the things that I have done to cut "my" expenses!!
1. Credit card now has a balance of 1800, down from 3200 in six months. I have a credit card from AARP, good for 6 months at 0% finance charge, and no annual fee. Instead of using my credit card, I use my bank card. this has forced me and my wife to spend within our limits. Your bankcard is also a credit card, and you can use it like a credit card usually anywhere! When my 0% card expires, i just fill out another 0% or low interest loan from another company til the card is paid off.
2. I bought a truck a couple of months ago. I got the loan thru the bank as a "home equity loan". The interest on this loan is "tax deductible" just like the interest you pay on your mortgage. Also check out the Certificates of Deposit vs your savings plan, the interest rate may be better.
3. I pay my mortgage taxes separate from my mortgage payments. I know its hard to come up with this money, but most loans that include your taxes usually hold a lot more in "escrow" that you would normally pay thru the year.
4. My wife and daughter love to "yak" on the phone. I got a deal thru ATT on my long distance anywhere in the USA for $30 and Verizon -local calling for $18 - total about $50 a month!! Down from the $200-$300 bills 1 1/2 years ago.
5. On your Mutual funds - or your 401K. You can change to another fund at no cost as long as its in the same "family" of funds, without a sales charge. And most 401K plans - they give you about 13 or so funds to choose from-you can change most of these from one fund to the other, daily if you like, doesn't cost you anything either!
6. Being the "so called man of the house", its my duty to constantly remind everyone to "turn off the lights when your not using them"!, "Were you born in a barn? Close the door"! "Is there a reason the shower is running with the force of water over Niagra Falls and your at the sink brushing your teeth"? etc. etc. You know what I mean!!
Would appreciate hearing from everyone, no matter how trivial your thought may seem. If I need to be corrected on the above ideas, I would appreciate your input. Thanks.
1. Credit card now has a balance of 1800, down from 3200 in six months. I have a credit card from AARP, good for 6 months at 0% finance charge, and no annual fee. Instead of using my credit card, I use my bank card. this has forced me and my wife to spend within our limits. Your bankcard is also a credit card, and you can use it like a credit card usually anywhere! When my 0% card expires, i just fill out another 0% or low interest loan from another company til the card is paid off.
2. I bought a truck a couple of months ago. I got the loan thru the bank as a "home equity loan". The interest on this loan is "tax deductible" just like the interest you pay on your mortgage. Also check out the Certificates of Deposit vs your savings plan, the interest rate may be better.
3. I pay my mortgage taxes separate from my mortgage payments. I know its hard to come up with this money, but most loans that include your taxes usually hold a lot more in "escrow" that you would normally pay thru the year.
4. My wife and daughter love to "yak" on the phone. I got a deal thru ATT on my long distance anywhere in the USA for $30 and Verizon -local calling for $18 - total about $50 a month!! Down from the $200-$300 bills 1 1/2 years ago.
5. On your Mutual funds - or your 401K. You can change to another fund at no cost as long as its in the same "family" of funds, without a sales charge. And most 401K plans - they give you about 13 or so funds to choose from-you can change most of these from one fund to the other, daily if you like, doesn't cost you anything either!
6. Being the "so called man of the house", its my duty to constantly remind everyone to "turn off the lights when your not using them"!, "Were you born in a barn? Close the door"! "Is there a reason the shower is running with the force of water over Niagra Falls and your at the sink brushing your teeth"? etc. etc. You know what I mean!!
Would appreciate hearing from everyone, no matter how trivial your thought may seem. If I need to be corrected on the above ideas, I would appreciate your input. Thanks.