The new economy and what you need to do

[nadinbrzezinski]

every so often I see a need to post these things, more as a way to help folks along in how to save better and live within means

I know I am lucky in my situation and have been able to save and do things that most folks cannot. In fact, the average pay in this country puts the average family one disaster away from loosing all savings... (and I don't mean a visit to the local ER... just silly things like a MAJOR car repair)

So here it goes

1.- Pay yourself every pay check before you pay all your bills. What do I mean? Even if all you can put into savings is a paltry five bucks, it is SOMETHING. We do, and we do have an emergency savings fund for ahem ... well emergencies

2.- If you have a 401K with matching funds from employer sign up for it. Yes I know 401K seem like 50K right now, but the fact is that they will come back.

3.- Reduce your credit cards to TWO, from two major providers.. and keep one for absolute emergencies, the other for regular spending... easier to keep control of what you spend. We use our debit card for that. And here is one more... if you have debt PAY as much as you can afford down... and once you are out of it.. pay as you go.

4.- SAVE for big ticket items... yes.... we all need to replace computers, TVs et al... TRY to buy them with cash.

5.- Here is a silly one.... I don't spend my coins... I save my change in a plastic baggie. Every so often I go CASH it... and then deposit into bank. It is a nice amount and it is quite painless. Oh and it can come up to upwards of a thousand a year.

6.- If you can reuse containers from cheese, meats and other stuff. I use them instead of buying new ones...

7.- Take your cloth bags to the supermarket. Ralphs here in Cali gives me 5 cents back per back I use. Ok... might not sound like a lot... but over time it is MONEY.

8.- Take your own cup to starbucks... it is ten cents. Oh and these days I tend to buy coffee not espresso when I do go there.

9.- BUDGET hobbies in... if you happen to have one. We do... so we have a budget of how much we MIGHT spend a month on our hobby.

10.- BUY Movie tickets at Costco... it is about 20% less than at the movie theater.

11.- Walk and bike when you can for errands.

12.- Find a couple brands of bread and buy whichever one happens to be on sale that week.

Add to this list

And yes, I am aware that some folk cannot save ... so not trying to preach here

[Speck Tater]

1. 8A. Stay away from Starbucks completely.

13. Grow your own veggies.
14. Avoid canned and boxed factory food. Buy only staples instead.
15. Buy grains and dry beans in bulk.

[nadinbrzezinski]

2. Well going out for coffee for us is a nice change of pace

and I wish I could grow my own vegies

:-)

Nowhere really to do it

But I love the grains and dry beans... if there is a place that has bulk items for sale cereal, flour, even candy can be added to the list

And of course buy fruits in season

[dysfunctional press]

18. dunkin' donuts sells it too...

nt

[nadinbrzezinski]

25. I don't patronize a bidness owned by the Carlyle group

nor is one anywhere at bikable or walkable distance

[Donnachaidh]

invest in a BREADMAKER.

In my area multi-grain breads (the healthy stuff) goes for over 3.50 a loaf! I already have a breadmaker and it's really simple to use. There are sites all over the net with great abm recipes - and you can make dough to freeze in loaf shapes, or as rolls, etc.

You'll be surprised how much your family will take to the homemade stuff. I've saved old bread bags and re-used them for the homemade stuff.

[nadinbrzezinski]

6. Been thinking of that

for the moment my next investment will be a steam vac... renting them runs about 50.... getting the service runs about 120... the steam vac, which I can share with brother in law, runs any where from 250 to 300

We have pet parrots, so we will get lots of use from it, and they have two kids

[gollygee]

24. Look on craigslist

A lot of people get them as wedding presents and never use them.

[nadinbrzezinski]

26. thanks... will do that.

We INTEND to.. .parrots are messy...

[seemslikeadream]

3. This might be of some use

Great Preparedness Manual -- just saying



:shrug:

http://www.abysmal.com/LDS/Preparedness/Preparedness.pdf

[nadinbrzezinski]

4. Since I am not talking of the second coming

but day to day

just saying...

Though I have to finish skimming it... and I am sure I can find other sources for the same info

:hi:

[Mojorabbit]

5. Great manual

once you get past the religious stuff. Lots of good info. One thing I have to say about the LDS, they do know their preparedness stuff. I have used a lot of their info to learn new ways to prepare whole grains which I buy in bulk.

[seemslikeadream]

7. It's just not for the Second Comers any more

:rofl:

[Raschel]

8. I'll probably get ridiculed for this, but since I hate any kind of waste, from food to

paper here are a couple of things I do.

I reuse paper towels. For instance, if I use a paper towel for cleaning mirrors, etc. I'll save it and use it for wiping a spot on the floor.

For printer paper, I reuse paper that did not print right etc., for writing notes and so on..

[nadinbrzezinski]

9. No I will not

I at times print on both sides of the paper

As to the paper towels, not a bad idea actually, and I have an extra "trash container" I can save them at

[Raschel]

10. Thanks. I don't save them if they're gross. I just try to use them from the top down

for cleaning. And it's being green at the same time!

[lumberjack_jeff]

13. I'm convinced that "frugal" is a prerequisite to "green".

It's not possible to be truly green unless one is frugal.

[cliffordu]

37. Yep, perfect.

[MadinMo]

15. We do this at home.

I know we aren't even supposed to use paper towels, but.....

So after I wash my hands and dry with a paper towel, I spread out the towel to dry, usually over the top of the utensils in the crock by the sink, and then when it is dry I can use it again --- for whatever. It's basically a clean towel.

More savings ideas:

Bring your lunch to work. Or bring your lunch AND your mid morning/afternoon snacks. Even if you do this just a couple of days a week, it adds up to some savings.

We cancelled our newspaper and now only get the Sunday delivery.

Cook from scratch. This is hardest on me because I love to eat out, but MrMadinMo is now retired and he is a great cook. And he has learned the crockpot is his friend.

Got meatless one or two days a week --- Beans and cornbread is a terrific meal. Potato soup!

Thanks for this thread!

[nadinbrzezinski]

16. You welcome...I do the cooking

and we mostly eat at home and hubby takes lunch every day

I sometimes treat myself to breakfast out when I go get groceries

:-)

[ancient_nomad]

11. I wash Aluminum Foil....

after I use it, and save it for re-use later. Sometimes I get half a dozen uses from it before it needs to be tossed. Now everyone can laugh. :-)

[Raschel]

12. I'll have to try that one. Every dollar you don't spend adds up! n/t

[nadinbrzezinski]

17. Will try it today

[Ilsa]

44. Me too, unless food is burned onto it. I don't throw stuff out unless

it is unusable.

[The2ndWheel]

14. Strictly for the sake of simplicity...

If you can't physically carry it yourself over any sort of distance, it's a luxury.

[dysfunctional press]

19. starbucks????

:rofl: :rofl: :rofl: :rofl: :rofl:

[nadinbrzezinski]

23. Insert coffee shop here

I used a generic one that happens to be in every corner... sorry if you laugh so hard

Of course you can ALWAYS brew that at home.

And personally I use the LOCALLY OWNED ones...

I laugh at you...

[Chimichurri]

20. I plan out my errands and I do them in one trip, so as to not waste gas.

[undeterred]

21. Starbucks? Movie tickets? Credit cards?

Yeah, we're from different worlds.

[nadinbrzezinski]

22. I am going through general recommendations

I am sure in your world saving coins... and putting twenty bucks away in the bank is also impossible...

After all, we ARE from different worlds

[earth mom]

27. Quit pushing 401Ks and the stock market. Everyone knows you pushed hard for the 700 Billion bailout

:thumbsdown:

:puke:

[nadinbrzezinski]

28. Well until we have a BETTER way for people to save for retirement

that does not involve the stock market... we will have to do that

I know you don't like that... but this is the REALITY RIGHT NOW.

Care to tell me of a better system? (hint social security should NEVER EVER be privatized but it is NOT enough either and people STILL NEED TO SAVE that is the world we live in)

And to you too
:puke:

[nadinbrzezinski]

29. And here IS A BETTER WAY, assuming this legislation ever moves forward

http://www.workforce.com/section/00/article/25/83/58.php

But UNTIL THEN... we are STUCK

GET IT NOW?

[earth mom]

31. NO THANKS. So they now want to STEAL 5% of workers pay?!

Fuck that and FUCK THEM! :grr:

There is nothing wrong with Social Security. It is not broken.

However, the 401K system is! Except they AND YOU are pretending it is not! :grr:

[nadinbrzezinski]

34. That 5% that is proposed WORKS like the Social Security System

you sound like folks back in the 1930s who railed against Social Security

[earth mom]

39. No, you are wrong. I don't want to play the stock market-Period.

As for Social Security, I am fine with it and support it 100%. Social Security is NOT broken!!!

I am furious that the bastards in Washington D.C. want to scam me for 5% to help their cronies on Wall Street have more money to gamble with. Well, FUCK THAT AND FUCK THEM. :grr:

You need to open your eyes and see that you are being gamed. Big Time.

[nadinbrzezinski]

40. What part of those savings accounts the dems are prooposing DO NOT

include the stock exchange are you purposely missing?

What part of they are ON TOP of your social security are you missing?

WHY DO YOU THINK MONEY MANAGERS WHO SPECIALIZE IN 401KS ARE FREAKED?

Screaming is necessary in this case

[earth mom]

30. The stock market is a SCAM for anyone but the rich. People are now finally figuring it out.

The entire 401K system is a TOTAL bullshit SCAM set up so rich fat cats could steal it from the suckers who fell for it.

Which is EXACTLY what they did. And make no mistake, they WILL do it again.


You are dead wrong that there are no alternatives to save for retirement, and shame on you for continuing to push 401Ks on everyone like some kind of expert, because you are NOT.

That you continue to push 401ks and the stock market proves that you have either a hidden agenda or you are simply choosing to be ignorant, maybe because you can't admit you are wrong.


If people want to save for retirement, they can do it the old fashioned way by putting their money in the bank and accruing interest on it. Yeah, the old fashioned way of saving. Wow, what a concept. :eyes:

Also, who the hell suggested privatizing Social Security? WTF?!!!! Anyone with half a brain knows that would be the final nail in the coffin for the middle class. No doubt about that!


Last but not least:

Your delusional belief in the stock market is exactly the same as freepers supporting McCain and his bullshit Joe the plumber tax plan that only helps the rich, not the middle class. :crazy:

[nadinbrzezinski]

33. It is such a scam that I KNOW people who have been investing

and SAVING all their lives.... you know like oh REGULARLY... as in EVERY WEEK

And you know what? These folks DID NOT have a cent to their name when they started saving and then investing, a little here, a little there. These are folks who have now retired COMFORTABLY.

So you can say whatever you want... it is NOT a scam... and the economy NEEDS a device to raise capital... until we are no longer a somewhat "capitalist" country with an economy that requires that... sorry... but the stock exchange, which comes from quite a bit longer than the existence of the US... is necessary.

When you invent a new economy (which I am sure will have its issues and will work very differently than in paper) then we can talk...

I know some folks believe we would be better in a socialist economy... having a CLUE about real socialism and capitalism BOTH are utopias and NEITHER works as advertised... but I am sure you knew that

By the way... I can discuss with you the good points and bad points of command economies, which by the by the US has worked under, see WW II

[earth mom]

38. Meanwhile how many thousands or millions of people have lost half or more of their 401Ks?

That is the issue here. Not that your friends managed to escape unscathed and have no worries.

My husband is due a small early retirement from a union he vested in years ago. He was supposed to get that money as a monthly payment this year, except several months ago they sent him a letter saying it's not gonna happen right now due to the instability of the stock market. Good thing we don't need that money so much right now, but others DO need their retirements and they are screwed. I wasn't surprised because I've had a sneaking suspicion for years that the powers that be would find a way to NOT pay all the baby boomer retirements out.

The stock market is nothing more than legalized free wheeling gambling set up to favor the rich, not the middle class. And 401Ks were and are a complete and total SCAM peddled and sold like there were secure as Social Security which is the furthest thing from the truth.

[nadinbrzezinski]

41. It is NOT free wheeling gambling... and it is THE BEST MEANS to raise

capital

Nor did I say nobody lost anything. Anybody who tells you otherwise is lying

That said... how many of your friends have their 401Ks as is in HIGH RISK investments? YOU CAN DO ONLY T-BILLS and guv'ment bonds if you so choose in most programs. Much lower rates of return mind you but MUCH SAFER too and NO stock exchange ibnvolved

I'm betting you didn't know that... or care to know that

[pitohui]

32. always fun to nitpick but for a change let's take what we need and leave the rest

i admit i'm one who washes out plastic ziplock bags and aluminum foil for multiple uses

instead of starbucks, be aware of which banks and grocery stores in your area put out free coffee for their customers :-) i'm not saying be a bum or you'll get 86'd, i'm saying if you actually shop at the store or do business at the bank you are entitled to help yourself to the free coffee

remember student days when to take a break, instead of going to a coffee shop, you would walk around the grocery store and taste the samples? it's fun, and we still sometimes do this on wine-tasting night (usually announced in advance in our local grocery store's ads) -- hell, there's nothing like free wine to make you happy!

we also look for free art gallery nights -- free wine, free cheese, free grapes, can't beat that and you might learn something about the local artists too (usually there's free music too)

you now lose as much as 7% of the coins when you take them in to banks where they put them in a coin machine for a fee -- instead -- use them at self service check outs when there is no line behind you -- it's like getting something for free when i can stick $7 in coins (including pennies) in the self serve coin receptor to pay for something -- takes too long and annoys the cashier if it's a "live" person but you can spend it with the self serve check out

really it's better not to let coins accumulate -- another way to do it is to put all the change in a bucket and be sure to put it in your savings account or christmas club acct every week so it never accumulates to a big heap 'a' coins

here's a big one -- don't buy bread, don't buy a breadmaker, don't eat bread -- it is empty calories that raises your risk of diabetes -- and brown whole grains are just as much starch as white bread, they're ALL bad -- if you don't believe me, get a glucose meter and test your response to eating different kinds of bread -- it's worth the expense considering you are about to pretty much cut all bread and cereal out of your life for a lifetime of savings on those items -- you really just don't miss those empty calories and the money spent on bread can be put toward quality calories

an idea for hobbies -- when we were really having EXTREME problems w. money, we examined our hobbies for ways to pick up extra money so the hobby would support itself -- ex: we had a collecting hobby and we were able to buy/sell at a small profit, so the collection was being upgraded AND we were not pouring more money into it -- another example, instead of gambling on our own dime, we looked for casino promotions that were free (only works if you live in a casino area), we won some very nice cash prizes at no cost except time and gas, you have to have good self control tho, if you think you will hit the slots while attending the giveaway it won't work

a third example -- we bred our canary pair and sold the babies for some extra cash or to trade to the pet store for food (but PLEASE don't do this w. animals that are already an overpopulation, such as dogs or cats)

windfall rules -- we have the one third rule for windfalls -- whenever we get a windfall, one third went to a fund for taxes, one third went to paying down debt, one third went to spending on whatever we liked -- some windfalls aren't taxable (like gifts) in that case one third to the debt and two thirds to the treat -- when receiving gifts always thank the gift giver and let her know what FUN thing you do w. her gift, no one likes to feel she's paying your electric bill

considering the cost of herbs/spices, i've found that for very little work, and almost no money, it pays for me to grow herbs that won't quit like rosemary (herbs that caterpillars like such as parsley tho might be a waste of time and actually cost money depending on your area)

if any of those ideas help, have at 'em, if you think my ideas stink, let's hear yours!

[nadinbrzezinski]

35. Bread is not empty calories

B12 among other nutrients come from grains, including bread

that said, people tend to have too much of it... if ye get my drift

Nor does bread itself put you at risk for diabetes... as one I wish it was that simple.... for example... a high risk factor is being a premie... I know most folks don't even know that one. Guess what I was.... and another one is having a close relative who is a diabetic... points at dad... not to mention the rest of the family... you know clusters.

So yes, we continue to get bread... but there is almost never a white bread round these parts.

Yes I do like the nitpicking

Oh and going to the bank for free coffee... don't go to the bank that often

:-)

[nadinbrzezinski]

36. Bread is not empty calories

B12 among other nutrients come from grains, including bread

that said, people tend to have too much of it... if ye get my drift

Nor does bread itself put you at risk for diabetes... as one I wish it was that simple.... for example... a high risk factor is being a premie... I know most folks don't even know that one. Guess what I was.... and another one is having a close relative who is a diabetic... points at dad... not to mention the rest of the family... you know clusters.

So yes, we continue to get bread... but there is almost never a white bread round these parts.

Yes I do like the nitpicking

Oh and going to the bank for free coffee... don't go to the bank that often

:-)

[MadinMo]

42. I really like your 1/3 rule.

I'll have to try to implement that one at home. MrMadinMo is coming around to my way of thinking more and more, so he might be receptive to this.

[nadinbrzezinski]

43. I like it too

I know I am getting some Bday money\ gift cards coming... so I will use the gift cards and put money in bank... which I mostly do