[jonasdatum]

Good morning people, I was watching Judge Judy yesterday [May 10 2007]. There was this 21 year old woman who was dating a man who was almost 30. Anyway, the woman took out a bunch of "pay day" loans.

Money Saving Tip: When you meet somebody and start a relationship and ask you if they could borrow more than $20, be very concerned! Ask yourself these questions

Do they have a job?

Do they have any kids?

Do they have a large amount od debt?

Are they in jail?

Do they have an extensive criminal history?

There is no such thing as a "sure" thing? Only a highly probable thing.

Money Saving Tip Reminder: Don't do drugs, make sure you utilitze all your free time to advance (that includes relaxing), put money not being used in the bank. Even if it's a penny, that's one more penny earning intrest.

[jonasdatum]

Originally Posted by Farmgirl22

Thanks for those sites, I was looking for something better to invest some money in, but didn't know about any that were reputable and reliable...I even posted a thread on here asking about it.

Also, if your income is so low, you could look into government programs. We qualify, but bringing up WIC and some others makes my hubby feel insulted, so we don't fill out the applications. However, if you feel they could help, you could look into them. I believe that a little government help when you are doing the best you can is a good thing, but if you just want to sit on your lazy butt and make the government pay for everything, that is not! Obviously you are working and doing your best, and I think that you would benefit from the programs...maybe then you could get ahead a little, until you finish school and start making more money. I would tell you some programs to look into, but every state is slightly different, so just look up your state government website and see what there is available to you.

BTW, please don't call me "lady"...it makes me think of an old fashioned woman who faints all the time, and relies on someone else to do everything for her. Just call me farmgirl...everyone on here does.

So how is the investment going?

[Farmgirl22]

Not too bad, I like the fact that it's an interest bearing checking account instead of a "savings account", that way if we get in a bind and need the money, we can get to it without incurring fees. It's nice too because it's getting the same rates as the big companies' money market accounts.

[jonasdatum]

As of this morning I've watched this DVD 6 times. All the data in the DVD can be found in the comments and links posted on this thread. That being said, worth a once over!

In other news, I think I managed to reduce the intrest rate on one of my credit cards below 12%. Only took about 4 years and today I'll try to change the rate on another card.

[jonasdatum]

Originally Posted by tomlunt

I read this in a book, so I can't take credit for it, but I think it's a good idea.

From Neal Boortz' "Somebody's gotta Say It"

Don't spend $1 bills. Start the day with only $5's, $10's and $20's in your purse / wallet. If you buy a coffee on the way to work, use the $5 bill, but if you get change with $1 bills, you can't spend them. So your coffee just cost you $5.00.

Any time you get a $1 bill in your change, you can't spend it. You take it home and store it away. (you can use the $1 bills for tips and tolls however). At the end of the month, count up your $1 bills and see how much you saved. Take them to the bank and deposit them, and try to convince the teller that you are not a stripper

TL

You can also stop drinking coffee !

[jonasdatum]

Originally Posted by Farmgirl22

Not too bad, I like the fact that it's an interest bearing checking account instead of a "savings account", that way if we get in a bind and need the money, we can get to it without incurring fees. It's nice too because it's getting the same rates as the big companies' money market accounts.

www.ingdirect.com has a checking account with an ATM/Debit MasterCard. Still going though my bills, investments, and tax concerns, but will probably get it. The taxes are what concern me the most. I get paid, then I recieve direct deposit to the checking account. Wouldn't I be taxed (state and local) twice, putting the intrest I earn aside? You could say the same thing about my savings acount.

Keith Epstein Busineweek Correspondent
Discusses his recent special report "The Poverty Business" which examines businesses that offer low-income consumers credit at high rates.
5/29/2007: WASHINGTON, DC: 30 min.
rtsp://video.c-span.org/15days/wj052907_epstein.rm

[hannab]

Originally Posted by jonasdatum

www.ingdirect.com has a checking account with an ATM/Debit MasterCard. Still going though my bills, investments, and tax concerns, but will probably get it. The taxes are what concern me the most. I get paid, then I recieve direct deposit to the checking account. Wouldn't I be taxed (state and local) twice, putting the intrest I earn aside? You could say the same thing about my savings acount.

Well you're not being taxed twice, you were never taxed on the interest that you "earned" in the first place -though some of us do see even being taxed once as being punished for saving (funny that banks say that you earn interest, yet the IRS calls it unearned income )


that ING just keeps on growing and offering more services I have most of my non retirement cash invested there

[itwillbreak]

Originally Posted by Skivvywaver

Replace all of your incandescent light bulbs with the florescent replacements. They take a little getting used to but they save some heavy cash on the electric bill.

Turn off your computers if you are going to be away from them for more than an hour or two.

Turn your furnace down a couple of degrees. Instead of 72' I run mine at 70'. In the summer, run your AC at 74' vs 72'.

Combine trips if possible. I never go out of the house to do just one thing if I can help it. I try to save up and kill 2 or 3 things with one trip.

Buy all the stuff you use when it is on sale. Not always possible but when it is, stock up if you can.

This one was very hard for me to implement. Turn off the lights when you leave the room if they are incandescent or screw in incandescent replacement florescents. Ballast started florescent lights are cheaper to run for and hour that they are to start up.

Do not stand with the refrigerator door open (this one is still hard for me). Know what you want and get it out. Shut the door.

Turn down the water heater. You are going to mix cold water with the hot when you shower anyway. Why heat water just to cool it back down? This is also handy for keeping the kids from taking half hour showers. They are out of hot water way before that.

Open the drapes in the winter and let the sun in, close them in the summer to keep the sun out. Close them at night in the winter. They are a source of insulation.

Ceiling fans. I can't say enough about them. In the winter I use mine pulling up, in the summer I use them blowing down for the cooling effect.

Yell at the kids for opening the door and holding it open to talk to their friends. "In or out".

I have had to learn to cut corners. We had a 70% hike in electricity this summer. My bill is lower than it was before the hike.

I have more and most of what I posted is just saving on home energy and gasoline with a few bucks at the grocers. I will post back when I think of more of my cheapskate tricks.

I put my computer on standby if i'm going to be away for a while. It saves the state of the pc and will start it back up where you left off when you push the power again. It really doesn't take up much power at all.

I love the florescent bulbs! I've had some now for over a year and haven't had to change them. They are a different type of bright light, but I love mine.

I love stocking up on things when it's on sale. I take advantage of the sales. I usually don't get stuff unless it's on sale. Oh, and I use coupons.

I would also say shop around for items if you can. Don't be compulsive to get something the first time you go shopping for it. Check out other stores and prices. I love getting a good deal so it's worth it.

Pretty much to save money, I don't get useless things. Too often I find that friends of mine get crazy things just on an urge only to have them pile up in a corner later. I get what I need and when I see something I WANT I think about it first like, "do i really need this". Of course treating yourself to a CD or computer game once in a while is great. But if I was very compulsive to get the XBOX 360 the first day it came out, i'd probably be broke still.

I also save all of my change. At the end of the day, I throw any change into a jar and cash it when it gets full. I put that money into an X mas envelope and save it for the holidays to get people nice gifts. It sure saves your butt when that time comes around again!

Hmmm...I'm sure i have some other tips lying around. Gonna see what others posted!

[itwillbreak]

Originally Posted by Knotbored

I read all these useful tips but don't find the most obvious one (for me.)
Within 50 miles of me I found (at leaste) seven discount food stores (dented cans/ fire sales/ railroad crashes/bankruptsies etc.)
These stores always have food bargains, tools and furnature at between 1/3 and 1/2 usual prices.
Example-last week I bought a case of 12 cartons of chicken stock (cardboard cartons) for $6, canned tomatoes (in glass jars) for 3 for a dollar, a half dozen boottles of various marinades and chilli sauces for a half dollar each (the list goes on and on.) None of these was past the sales date, and none of the cans were dented.

There also are several bread outlets that sell all the bread returned from the delivery trucks (unsold but fresh) for about 1/3 off, and day old for 2/3 off. I use the day old for immediate use, save or freeze the fresh stuff.
Note- I and wife are retired but are lucky enough to have an adequate income. We search for bargains mostly for entertainment value. My wife is an exelent cook, and we eat better (and cheaper) then anyone I know.

I love bargain stores!!! I typically go to the dollar stores around where I live to get things like zip lock bags, trash bags, bottled water, and some snacks. However some sell other things like milk, bread, butter, etc that is within date and not bad. It's just a no name brand that isn't popular.

I also like Aldi stores! They have the same stuff that is cheaper. It's just not a name brand, but i bet you it was packaged in the same factory as the name brand items!

There are MANY local fruit and veggie markets around here that I go to as well. The produce is locally grown so you are supporting your local farmer along with getting fresh produce. can't beat it!

[jonasdatum]

Originally Posted by hannab

Well you're not being taxed twice, you were never taxed on the interest that you "earned" in the first place -though some of us do see even being taxed once as being punished for saving (funny that banks say that you earn interest, yet the IRS calls it unearned income )


that ING just keeps on growing and offering more services I have most of my non retirement cash invested there

ING, I knew about the bank years before I set up an account with them - I was just apprehensive. Took a coworker sending me a referral link in which I received $25 and she received $10. Been using it ever since. Now they finally have a checking account.

Keith Epstein Busineweek Correspondent
Discusses his recent special report "The Poverty Business" which examines businesses that offer low-income consumers credit at high rates.
5/29/2007: WASHINGTON, DC: 30 min.
rtsp://video.c-span.org/15days/wj052907_epstein.rm

Now one example Mr. Epstein gave was a woman who paid almost twice what the car was worth on a car, most unfortunate. Now I plan on getting a motorcycle license, but before I take a course for it I need basic gear such as a helmet and a jacket.

Walked into a bike shop and low and behold the salesman [who is younger than I am] was trying to sell me a bike saying things during the course of our exchange “how is your credit; you’re doing it backwards, you buy the bike first than the gear?” LOL, you’ve got to be kidding me. Even though don’t have to income to purchase a bike I did try on a few for future reference. While trying them on the salesman said “just go with the 250.” When I was trying on helmets he said you look like a medium – depends on the brand. Then he went on trying to push a bike, like I was going to cave in or something.

Why would I buy a machine that I can’t afford to maintain, and full retail price can’t afford, and is too big for me?

My point is that this is a typical situation with many people. If you’re going to buy a used car, make sure it’s one you can afford finance or no finance! If possible try to go to an auto auction. Some city or state auction let you look @ the cars before the bidding starts. The only hitch is if you can get somebody who knows enough about cars to go with you.

Another reminder, manufacture refurbished and often refurbished are just as good as the real thing. This is the rare exception I recommend a service contract, but that is situational.

Does anybody know a bank that has LOW TO NO MINIMAL deposits for a checking and/or savings account(s)? Please list them and help people who give money to check cashing places needlessly.

Washington Mutual www.wamu.com

ING Direct aka ING fsb www.ingdirect.com: As far as I know there is no minimal for their checking account. There a number of fees like for cancellation, paper check mailing, etc. Learn more here http://home.ingdirect.com/faqs/faqs....ElectricOrange.

Commerce Bank http://bank.commerceonline.com/perso...e_checking.cfm

HSBC
http://www.us.hsbc.com/1/2/3/personal/checking

HSBC
http://www.us.hsbc.com/1/2/3/personal/checking

[jonasdatum]

Originally Posted by teengeekgrrl

The good old penny jar. Seriously.

Picked up 5 cents in pennies this week. I saw another penny in the street, but didn't want to get ran over. Make sure that you separate the lose change according to amount, quarters, dimes, nickles, pennies, and other; so you can spend less time sorting and raping the change for deposit. Many bank tellers don’t like when you give them lose change, even if its fifty cents.

[Davec]

I save my change and donate it to the local Feral Kitty Committee. The Chairpurrson has a sorter. At Safeway yesterday the cashier asked if I wanted to round up for prostate cancer. I gave my usaul response of "I donate my change to the FKC but I was tempted to say I didn't want prostate cancer.

[jonasdatum]

Originally Posted by poochee

That is a good idea!

Now is everything better?

Have you changed your savings system? I normally put about 20% of my money in a savings account. Then after bills and expenses, I might put more away. Since I opened an ING checking account I might have money sitting it between my ING savings and my conventional checking. That way I have money earning some intrest and is more accessable than if it was in my ING savings. What do you think?

[Farmgirl22]

Originally Posted by jonasdatum

Have you changed your savings system? I normally put about 20% of my money in a savings account. Then after bills and expenses, I might put more away. Since I opened an ING checking account I might have money sitting it between my ING savings and my conventional checking. That way I have money earning some intrest and is more accessable than if it was in my ING savings. What do you think?

I am hoping it is a good idea, because we are doing something similar to that. We didn't want to have the extra money be "too accessible", but we also were worried about it not being accessible enough, if we got into a bind.

So since this is the "money saving tips" thread, does anyone know if buying in bulk, at Sam's (or whatever the local version is) cheaper? I'm curious, because I noticed when I was shopping in there the other day, that our local grocery store has comparable prices per unit (obviously, it is a tad higher), it just doesn't have everything in bulk. Also, when you figure in the gas it takes me to drive the 50 miles there (vs. the 30 to the local store) not to mention the "membership fee" (which I think is a crock!! ) do you really save anything??

I don't know....hopefully someone else who lives in the boonies can give me some of their thoughts on it. For us, it's not like we can just drive down the street and find a store...the closest one with a decent selection is about 30-35 miles away. Does it really pay to buy in bulk after the gas (don't forget that's 100 miles round trip!! ) and memberships, not to mention the waste considering there are only two of us??

[franca]

8 Tips For Keeping Your Cash