[franca]

Pay off your mortgage more quickly to save money

[jonasdatum]

Originally Posted by Farmgirl22

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??

Buying in bulk is a good idea. Bulk buying psychology must stay within rationality. Don't buy more and then use more, use less or the same. The bulk stores often want you to screw up! You must actually sit down and do the math! I buy toiletries and sanitation products and bulk and normally don't have to go to the store for two to three months.

[jonasdatum]

Originally Posted by jonasdatum

You have to be careful with drying via sunlight. Sunlight has a natural bleaching effect clothing and [from what I remember] fabrics.

There are multiple grammer errors all over the thread. I am sorry, I'll try to review my threads more carefully.

[jonasdatum]

Hello I just thought of this idea if you own a home, valuable property, etc.

1) Take video and/or still pictures the property and keep backups. This is especially important if you're having improvements done in the home. Also works to video tape the workers working! If the workers prefer you don't video tape them - find someone else. They must have something to hide!

If we are talking about your car, I advise keep a camcorder and still camera in the car. So accidents won’t be a problem, however many people would feel this is overkill, but it is not!

The only reason I have a camcorder is because my neighbors above me leak on me at least once a year! My parent never kept detailed video still photos, but now that I live here myself, that mistake will not be my own. After reviewing my video, I realize my camera skills need work. However, I have multiple nortarized letters, a typed log, and certfied mail reciepts. The video needs to be edited though. In fact, you can still see the water stains from 20004 and 2006 in the corresponding rooms. Left them there, because maintence never responded.

Also try to take notes on the serial numbers of major appliances in the home.

2) Have the property appraised for example, something baseball cards, comic books, cars, paintings, etc.

3) Have the property insured.

Folllow these steps to insure your property is protected. So your insurance company cannot say, “Well where is your proof? No proof, claim denied?” Preporation is everything!

[jonasdatum]

How much money have you save via cash back credit/debit cards? I have saved about $50 thus far.

My ING direct checking account has allowed me to setup an allowance system, $300 a month. It's designated for food, pocket spending, and transportation. More of an experiment to stop using my credit card.

[Farmgirl22]

Try signing up for Upromise...it lets you put money into a savings account for certain things you buy at the grocery store. I put away about $400 for Aidan and I so far, and I've been doing it for about a year. (we buy a LOT of groceries!!)

[jesseem]

I don't have a credit card, never had and never will. I keep getting sales calls offering me lifetime free credit cards (?), personal loans and the like, at least 5 calls in a month even after registering for the do not call option. I have a debit card and a savings account.

I don't have cable. I wash my clothes by hand and sun dry them. I wash my dishes by hand as well. Use power saving CFL lights and only at nights. I leave the windows open during day for light and ventilation. Cook all of my meals. Rarely eat out unless it's a special occasion. Literally scour thru my neighborhood to find cheap and best groceries and only do grocery shopping once in 10 days. I never buy canned foods. I always buy fresh vegetables and fruits and stock them in my refrigerator. Even the meat I buy is fresh. Get all the dried stuff and soak them myself. Buy whole grains and cereals and make my own flour. Buy spices and condiments and make my own masalas instead of the readymade variety which are expensive. Minimize toiletries as much as I can. If I step out of my home, I queue up 3 or 4 things that needs to get done and finish them at one go.

My major expenses - rent (such high rates and getting higher every year).
My DSL and phone bills, absolutely essential since I work out of home.
Electricity bills - again being in a hot country, the ceiling fan has to work nonstop.
Cooking gas - not that much compared to my other expenses.
Groceries - even basic veggie costs have boomeranged.
Drinking water - have to due to hygiene and health concerns. (We've had a lot of infectious diseases spreading around due to contaminated water and mosquitoes. A couple of years ago, we even had to buy water for basic household purposes because our city had a water shortage. Now we have a bore well and get very hard water).
Medications (for mum). Have no health insurance or any other benefits.

Investments - Right now, I'm going paycheck to paycheck (I make very little money ). But what little I can I try to invest in FDs - Fixed deposits. They have a lock in period and a penalty for premature withdrawal.

I guess it's what one would call a bare minimum existence.
Had to learn it the hard way. Dad lived extravagantly and blew away all the savings and left me with a huge debt which I have been paying off on his behalf for the past 3 years.

[jonasdatum]

Originally Posted by jesseem

I don't have a credit card, never had and never will. I keep getting sales calls offering me lifetime free credit cards (?), personal loans and the like, at least 5 calls in a month even after registering for the do not call option. I have a debit card and a savings account.

I don't have cable. I wash my clothes by hand and sun dry them. I wash my dishes by hand as well. Use power saving CFL lights and only at nights. I leave the windows open during day for light and ventilation. Cook all of my meals. Rarely eat out unless it's a special occasion. Literally scour thru my neighborhood to find cheap and best groceries and only do grocery shopping once in 10 days. I never buy canned foods. I always buy fresh vegetables and fruits and stock them in my refrigerator. Even the meat I buy is fresh. Get all the dried stuff and soak them myself. Buy whole grains and cereals and make my own flour. Buy spices and condiments and make my own masalas instead of the readymade variety which are expensive. Minimize toiletries as much as I can. If I step out of my home, I queue up 3 or 4 things that needs to get done and finish them at one go.

My major expenses - rent (such high rates and getting higher every year).
My DSL and phone bills, absolutely essential since I work out of home.
Electricity bills - again being in a hot country, the ceiling fan has to work nonstop.
Cooking gas - not that much compared to my other expenses.
Groceries - even basic veggie costs have boomeranged.
Drinking water - have to due to hygiene and health concerns. (We've had a lot of infectious diseases spreading around due to contaminated water and mosquitoes. A couple of years ago, we even had to buy water for basic household purposes because our city had a water shortage. Now we have a bore well and get very hard water).
Medications (for mum). Have no health insurance or any other benefits.

Investments - Right now, I'm going paycheck to paycheck (I make very little money ). But what little I can I try to invest in FDs - Fixed deposits. They have a lock in period and a penalty for premature withdrawal.

I guess it's what one would call a bare minimum existence.
Had to learn it the hard way. Dad lived extravagantly and blew away all the savings and left me with a huge debt which I have been paying off on his behalf for the past 3 years.

I recieved a citi loan appliction that is linked to the card. LOL, I guess citibank said "his credit is too good and more of than not over pays the bill. Get him in debt." Makes me laugh every time they send that junk, went right to the shredder.

I more or less live paycheck to paycheck, but I save as much as I can. Unforunately I may have to spend another $500 on a new computer if I can't get my current one fixed.

Dude, try getting just one card, just in case something happens. I know what you think. You think you'll become one of the other million plus americans that buy stuff that they don't need and utterly can't afford.

[jesseem]

Originally Posted by jonasdatum

I recieved a citi loan appliction that is linked to the card. LOL, I guess citibank said "his credit is too good and more of than not over pays the bill. Get him in debt." Makes me laugh every time they send that junk went right to the shredder.

I more or less live paycheck to paycheck, but I save as much as I can. Unforunately I may have to spend another $500 on a new computer if I can't get my current one fixed.

Dude, try getting just one card, just in case something happens. I know what you think. You think you'll become one of the other million plus americans that buy stuff that they don't need and utterly can't afford.

My dad had two credit cards, both from banks, and a loan on the card was forced on him and he didn't even know about it until he had the money in the account. He told them to take it back. They refused. They wanted the principal plus an enormous amount of interest on it. He refused to pay them and then he was gone and then I ended up having to pay up (literally threatened and blackmailed by the bank officials) the whole loan which had grown due to the interest rates and the non payment. So I just make it a point to never get credit cards. I swore I wouldn't. I know what you mean by just in case something happens. But I guess I'd rather put up with that unforeseen event rather than be threatened by thugs hired by banks.

[jonasdatum]

Originally Posted by jesseem

My dad had two credit cards, both from banks, and a loan on the card was forced on him and he didn't even know about it until he had the money in the account. He told them to take it back. They refused. They wanted the principal plus an enormous amount of interest on it. He refused to pay them and then he was gone and then I ended up having to pay up (literally threatened and blackmailed by the bank officials) the whole loan which had grown due to the interest rates and the non payment. So I just make it a point to never get credit cards. I swore I wouldn't. I know what you mean by just in case something happens. But I guess I'd rather put up with that unforeseen event rather than be threatened by thugs hired by banks.

I am sorry about your father; but what you said didn't make sense? How was a loan forced on him? You can't just get a loan automaticaly forced on your card. I don't understand and as you can see from my post on this thread I've done a fare amount of reading on credit cards, please explain.

[jesseem]

Originally Posted by jonasdatum

I am sorry about your father; but what you said didn't make sense? How was a loan forced on him? You can't just get a loan automaticaly forced on your card. I don't understand and as you can see from my post on this thread I've done a fare amount of reading on credit cards, please explain.

Ok, I'll try my best to explain. Here goes. He gets a call from a lady from the card's customer care center and she tells him that he qualifies for a loan and yatta, yatta, yatta. My dad tells her that's good, but I don't need a loan now. I will get it if and when I need it. He hangs up. 2 days later, he gets a letter stating that his loan has been approved and his account has been credited with the money. Then begins a series of back and forth that led to nowhere and finally I was forced to pay up. Now this was one credit card from citibank.
He had another card from another major bank which he kept saying he didn't want to the bank. And then he used it to purchase something to it's max purchase limit. 7 days later, he receives a statement for the total amount and a letter stating that his card had been canceled and that he should pay up the money in full, not part, full including service charges and such and that he should cut the card up and send it back to the bank. Confused, he did just that. He paid up in full and cut the card to pieces and sent it back. Then he kept receiving card statements for the next 6 months. After numerous calls to the bank, that finally stopped. A year later, he receives a statement for card membership charges and annual fee for a card that he no longer had. Such a load of crap.

[jonasdatum]

Originally Posted by jesseem

Ok, I'll try my best to explain. Here goes. He gets a call from a lady from the card's customer care center and she tells him that he qualifies for a loan and yatta, yatta, yatta. My dad tells her that's good, but I don't need a loan now. I will get it if and when I need it. He hangs up. 2 days later, he gets a letter stating that his loan has been approved and his account has been credited with the money. Then begins a series of back and forth that led to nowhere and finally I was forced to pay up. Now this was one credit card from citibank.
He had another card from another major bank which he kept saying he didn't want to the bank. And then he used it to purchase something to it's max purchase limit. 7 days later, he receives a statement for the total amount and a letter stating that his card had been canceled and that he should pay up the money in full, not part, full including service charges and such and that he should cut the card up and send it back to the bank. Confused, he did just that. He paid up in full and cut the card to pieces and sent it back. Then he kept receiving card statements for the next 6 months. After numerous calls to the bank, that finally stopped. A year later, he receives a statement for card membership charges and annual fee for a card that he no longer had. Such a load of crap.

Sounds like crooked barely legal [or illegal] activity combined with universal default. Universal default basically says that if he screws up with one card, he screws up with them all. As for the loan, sounds like something received involving credit card. However, I believe you could have fought it in small claims. It is most unfortunate, but doesn't mean it will happen again.

http://en.wikipedia.org/wiki/Universal_default
http://en.wikipedia.org/wiki/Credit_card
http://bankrate.com/brm/rate/cc_home.asp
http://bankrate.com/brm/news/Financi...p?s=1&caret=9d
http://www.creditcards.com/cash-back...43d&a_cid=1020

I should also mention that I received a credit card application from discover yesterday. LOL, I have three and rarely use more than one. So it is going right into the shredder .

[jesseem]

The loan was involving the credit card. He only got this card almost two years after the first one. The funny thing is the bank after canceling the card still wanted him to be a member and use his card which they canceled. Apparently, it was a mistake on their part to have canceled it and they wanted to reinstate the card. Total crap again.

[jonasdatum]

Originally Posted by jesseem

The loan was involving the credit card. He only got this card almost two years after the first one. The funny thing is the bank after canceling the card still wanted him to be a member and use his card which they canceled. Apparently, it was a mistake on their part to have canceled it and they wanted to reinstate the card. Total crap again.

I seriously doubt it was a "mistake." They want you to keep trying to pay off the loan. If by some love of the gods you pull it off they get the principle and the interest. Watch the documentary "In debt we trust" and all the others. I will try to recompile the list and post it in reply or in edit. Also search this and my social economic thread.

This is a very useful link:
http://en.wikipedia.org/wiki/Debt

[Frank4d]

I have a bank account that I have not used for 7 or 8 years. Every month they send me a statement showing $0 deposits, $0 withdrawals, and my balance is $0.