Best ways to save money $
 

After reading a post about refinancing his Z, it got me to thinking about easy proven ways to save $ that we can pass on, to help others.

I was raised on the premis that if you can't pay for it at the end of the month you can't afford it!
There are always exceptions of course, mortgage, autos etc.
But in every circumstance you want to pay as little interest as possible!
That's why you pay off your credit card every month, 15 yr. home mortgage etc.
Interest paid gets you nothing, that said don't ever be afraid to say " I can't afford it now" you'll be a lot better off in the future, I promise.

What are your tips?

Don't be impulsive. If you really want something, give it a week or two and see if you still REALLY want it. Learned the hard way with this and spent a lot of money on things I hardly ever use.

Save and pay cash.

No car payments ever again.

Take advantage of 0% interest for a year credit card offers. Transfer some of the debt there to lower interest paid. Then cancel the credit card in a year.

If you have equity in a house, get a secured line of credit using house as security. This way you get lower interest. Use the credit line to pay off portions of the house and increase the limit every year as the equity increases. Eventually transferring all of the mortgage to the credit line. Credit lines are not front loaded for interest like mortgages, so you pay off your house sooner with less interest paid.

PS. This thread will get moved, as this is not Z related. :-)

Don't live in California.

idk man. if i didn't live in california i'd have twin turbo'd my Z already
15k that fast intentions wont see until i move :rofl2:

keep the highest deductible your auto financer will allow, and keep that much in reserve in savings in case you ever need it. Also, if you have a mortgage, go for a high deductible, and never make a house claim unless its catastrophic. One small claim on your homeowners insurance can make them drop you.

Also, I have a Sam's Club mastercard. It gives 5% back on gas, 3% on travel and dining and 1% on everything else. I use it for everything and pay on it about once a week so it doesn't get out of control. Keep a zero balance every month and last year they gave me about 1200 cash back.

I created a spreadsheet of all my routine expenses, such as car payments, mortgage, credit card payments, internet, electric, etc., so I know how much I have left. I then set up an allotment for a reasonable amount to a savings account (not to include retirement) so I have a somewhat fixed amount to play with every paycheck.

My wife and I recently returned to Germany from Guam so my monthly compensation went down about $1K. It's just how it is, we get paid based on rank, marital status, and location. The cost of living in Germany is simply less compared to Guam so we really have to be mindful of our expenses.

It all boils down to:
1) Don't waste money.
If you don't need it, don't buy it. Don't pay extra for a popular brand - if you have to impress people with your possessions, especially if it puts you in a bind, finance is not your problem. Wanting something is not the same as needing it.

2) Don't spend money you don't have.
Yes, you will more than likely have to borrow for a home and a car, but keep all other borrowing to a minimum. You may want to keep a low balance on a few accounts, but don't pay a lot of interest.

Quit smoking and drinking.

Find ways to save on the things you use most every day! It doesn't matter if it's toilet paper, gas, food, electricity! On of my biggest expensives is gas /got a cash back card.
My brother smokes/ got a machine .. Rolls his own.
Make your am coffee at home/ no Starbucks
Anytime u can use a coupon and get it on sale.... It's a double dip !!

Rember ... The Money is better in your pocket than someone eleses!
Once you get ahead of the debt curve life becomes sooooooo much easier!

when I was in the Navy, I would wait until I got to work to take my morning poop! saved $$ on toilet paper at home!

ROFLMAO That's one of the very few things I'll spend extra on. And you can't have too much of it in the pantry.

When you see the word Sale :eek:


Remember there's always a Sale going on 365 day's a year somewhere :tup:


-Clifford :tiphat:

I gave up drinking , women, Zs....WORST 15 MINUTES OF MY LIFE:eek: