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newbietx said:   JuNooNi said:    I just came back from Alaska using the same award ticket that we used for our earlier trip to Western Europe back in May.

Sorry you lost me here. What do you mean using the same "award ticket"?


I think it's a reference to a strategy described under the ticketing of international awards in travel blogs like this:

http://thepointsguy.com/2011/06/maximizing-stopovers-transfers-a...

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Another thing to do is to use both sides of the toilet paper. Also you should split up that double ply. Now you've turned one sheet into 4.

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bigtimesaver3652 said:   Another thing to do is to use both sides of the toilet paper. Also you should split up that double ply. Now you've turned one sheet into 4.

This idea stinks

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bigtimesaver3652 said:   Another thing to do is to use both sides of the toilet paper. Also you should split up that double ply. Now you've turned one sheet into 4.

If you're really hardcore, you fold it up into quarters and tear out the corner. Then your finger goes through the hole in the TP and does the bulk of the cleanup.

The salvaged corner of TP is for cleaning up under your fingernail, after.


Too bad phone book pages aren't flushable, or you could use those pieces of junk classic Sears-Roebuck-style.

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stanolshefski said:   Krazen1211 said:   drblevins said:   
Cut your internet service along with cable and talk with neighbor to wi-fi share.



Careful. Who knows what your neighbor will do with your data?


That's what a VPN or Tor is for.


VPN or Tor wont help when MPAA or FBI come knocking on your door for piracy or child porn that your neighbour downloaded using your WiFi. Not worth the hassle of fighting the courts and LEO.

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I would say either do NOT get married or if you do, make sure she is similar economic status as you and has no plans to 'retire' after she squeezes out a couple kids. If there is significant difference in earning potential, I can guarantee there will be conflict.

Also, as you earn more money, roll the extra into Roth IRA, 401K, etc. Don't rush out to buy a flashier car or start taking european vacations. Doing these simple things now can let you get to europe after an early retirement.

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Understand the difference between wants and needs.

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beatnik28 said:   Understand the difference between wants and needs.

I would expand this to say that everyone you are financially responsible for (i.e., yourself, spouse, kids, etc.) should understand the difference between wants and needs, as well as the concept of limited resources/trade-offs, delayed gratification, opportunity cost, etc.

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webminer said:   stanolshefski said:   Krazen1211 said:   drblevins said:   
Cut your internet service along with cable and talk with neighbor to wi-fi share.



Careful. Who knows what your neighbor will do with your data?


That's what a VPN or Tor is for.


VPN or Tor wont help when MPAA or FBI come knocking on your door for piracy or child porn that your neighbour downloaded using your WiFi. Not worth the hassle of fighting the courts and LEO.


That's why you piggyback off their WiFi.

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larrymoencurly said:   luvbugium said:   Get a hobby that makes money, not costs money.Then it's not a hobby.

Poker is/was a good hobby for that. So is/was sports betting. Assuming you're good at it.

There are other hobbies that work that way too.

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spend the time it takes to conduct research and compare options, particularly on major purchases. I have found that many young folks just make a purchase without doing some due diligence and sometimes over pay for items. I have some family that just bought a car and the husband had a friend at the dealer. He bought the car trusting that his friend gave him a good price. The reality is the husband did zero research, made the purchase right on the spot, and has no proof that he got a good deal as no comparisons were done. I've been trying to educate his wife to plan for at least a month of researching on the weekends before buying major items like a car. Husband is terrible with finances and has accumulated tons of debt with nothing to show for it. wife paid down his debt twice but is not willing to do it again.

Remember, price is one part of the decision to make a purchase. Quality and Customer Service are also key considerations.You may have other criteria to add. Buy from companies that are grateful for your business and treat you well. why buy from companies that mistreat you as a customer? walk away if treated poorly or it sound too good to be true.

Be ware of signs that say "all purchases are final" because those can't be undone. I don't like returning items to the store but I sure like knowing that there is an option if things don't work out.

watch out for all the "opportunities" to make extra $. They often sound so easy to recruit your friends and family to buy or subscribe to some service or product. before you know it, you get sucked in and spend more $ than you intended. some people might call these opportunities scams, MLMs, etc.... doesn't matter what you call it --- there are tons of them out there. be ware of gifting programs doing the same thing. they are all very skillful at marketing to us and removing all objections -- its so easy. don't waste your time or $ on any of it.

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Don't move to New York City.

Sincerely,

A Manhattan resident.

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bigdaddycincinnati said:   newbietx said:   JuNooNi said:    I just came back from Alaska using the same award ticket that we used for our earlier trip to Western Europe back in May.

Sorry you lost me here. What do you mean using the same "award ticket"?


I think it's a reference to a strategy described under the ticketing of international awards in travel blogs like this:

http://thepointsguy.com/2011/06/maximizing-stopovers-transfers-a...


That's pretty much the concept here but you have to be extremly flexible and love travel to new/exciting places. I am heading back to Vancouver/Seattle area in November on my next leg of just concluded leg from Paris to JFK after brief stopover ( six months in this case) in NYC.

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Bradr19 said:   pay half your mortgage 2 weeks before it's due. If your loan company will allow this you can save tens of thousands on a mortgage.
Pay off your house as soon as possible.


I'm sorry, but you will not save tens of thousands doing this. Best case scenario is you would save 1/26 of your annual interest rate. Let's say you have a 30 year at 4% and your mortgage is $500,000. That's roughly .1% * $500,000 * 30/2 (years), which works out to $7,500. A good chunk of change, no doubt, but you won't save tens of thousands.

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abracadaver said:   Don't move to New York City.

Sincerely,

A Manhattan resident.


Don't move to NY and get tricked into thinking you have to live in Manhattan (and live the associated lifestyle)

-A Brooklyn resident

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ALargeFarva said:   Bradr19 said:   pay half your mortgage 2 weeks before it's due. If your loan company will allow this you can save tens of thousands on a mortgage.
Pay off your house as soon as possible.


I'm sorry, but you will not save tens of thousands doing this. Best case scenario is you would save 1/26 of your annual interest rate. Let's say you have a 30 year at 4% and your mortgage is $500,000. That's roughly .1% * $500,000 * 30/2 (years), which works out to $7,500. A good chunk of change, no doubt, but you won't save tens of thousands.


Exactly, all this effectively accomplishes is taking 1/2 of one months payment out of the life of the mortgage. Its no different than just paying extra toward the mortgage when possible.

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If you're truly financially responsible, then paying off your mortgage as late as possible is generally a better approach.

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fwuser12 said:   KayK said:   Here's another one that I just thought of. Drive at max 65 mph. The savings due to better gas mileage would add up nicely.
While I agree with the gas savings, if you are going to do this, please, please, please, do not drive on the left lane(s) --- even if the posted limit is 65.


I love this in particular, however it does touch at a more general bit of courtesy that I try to follow, which is that I don't let my frugality get in the way of other people who want to spend more for some convenience

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bigdinkel said:   That $30 monthly gym membership pays for itself if you use it! That's less then most Co-Pays to a specialist!

My $10 membership to Planet Fitness pays for itself three times faster

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StevenColorado said:   Cars should be cheap, reliable transportation, not personal statements.
  Clothes should be cheap, long-lasting body coverings; not personal statements.
Homes should be cheap, high-quality protection from the elements; not personal statements.

I'm starting to find that the one quality that means the most in saving money is caring less what others think of you.

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TheDragonn said:   
DShelbyJr said:   Learn to coupon. I walk out of CVS pretty regularly with $300+ worth (CVS inflates items big time, but still $200+ at Wal-Mart) of personal care, paper goods, and cleaning supplies for next to nothing. I can't remember the last time I paid for razors, shampoo, deodorant, cleaning supplies, etc. It saves me a ton of money each year. I've already saved over $10,000 this year doing this (of course I do sell a lot of things I buy - average an extra $500-800/month of extra income).

Care to help a n00b out with a quick piece of advice? I hate spending $4 on deodorant. Where does one dig up these coupons? Just hit the googles?

  http://www.iheartcvs.com/

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I didn't read the entire thread, so might have been mentioned. If you have it available, get your 401k match.

I was talking with a co-worker about how it was crazy that people wouldn't take the free 401k money, put in 6% and get 4% matching. Another person overheard and took offense, saying some people needed their entire paycheck to survive. I knew him, so I countered immediately with asking how many times a week he eats lunch out and how often he visits the vending machine to buy $1.25 sodas and snacks. He said it's only a few dollars, at which I replied, "ok do the math and let me know how much a year you are spending on that."

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is there a way to make having kids a "hot deal"?

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rufflesinc said:   is there a way to make having kids a "hot deal"?
  
Only if you are living off the government or selling them to wealthy, childless couples...

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rufflesinc said:   is there a way to make having kids a "hot deal"?
Have one for someone else

http://www.thesurrogacysource.com/sg_compensation.htm

http://www.reproductivepossibilities.com/carrier_exp.cfm 

 

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recycle dryer sheets

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bigmarley4 said:   recycle dryer sheets
  Or don't use them at all!

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kranky said:   Not actually a "change", but the one bit of insight I like to share with people is that it takes $1.33 (or more) of income to make up for a wasted $1 in spending, when you factor in taxes. Everyone knows they pay taxes, but most people think a dollar of additional income makes up for a dollar squandered. For example, if someone has a budget of $200/month for gambling, they have to earn $266 to generate that $200 in cash. It shows the real impact of wasteful spending.
  I may be wrong here...but at a 33% effective tax rate, you ll have to make 300 dollars in salary to account for 200 in spending...

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pma said:   kranky said:   Not actually a "change", but the one bit of insight I like to share with people is that it takes $1.33 (or more) of income to make up for a wasted $1 in spending, when you factor in taxes. Everyone knows they pay taxes, but most people think a dollar of additional income makes up for a dollar squandered. For example, if someone has a budget of $200/month for gambling, they have to earn $266 to generate that $200 in cash. It shows the real impact of wasteful spending.
  I may be wrong here...but at a 33% effective tax rate, you ll have to make 300 dollars in salary to account for 200 in spending...


You're correct, kranky's example was for the 25% tax bracket.

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Glitch99 said:   
AcidSpectrum said:   pay credit card bills weekly (use bank/cu free bill-pay), saves money on interest and less likely to have late fees.

It only saves on interest if you are carrying a balance and paying interest. Otherwise, monthly is perfectly fine. Just focus on your statement date, not your due date (pay the bill when you get it, not when its due).

  Why is that?  Assuming a credit card has a statement date of the 11th of each month, and a due date of the 6th of each month, I was under the impression the time between receiving your statement no interest accrues.  Are you saying the interest starts immediately when a statement is issued and the "Due date" is just to avoid late penalties?

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aznshadoboy77 said:   
king0fSpades said:   
US1549 said:   Bag lunch to work. Cost of a ham sandwich $2 VS. going out of $5-7

Ham sandwich? Why are we even living? How about become homeless or suicide? If a person cannot enjoy a decent lunch what is the purpose of life? Should look into getting a better career.

Lets do the math, 22 days of work/month, saving just $1300 per year and eating crap for whole year and rest of your life? This is an absolutely ridiculous suggestion. I never did this in my life did this and I turned out OK.


I agree, $2 ham sandwich is a bit extreme, but you can definitely save money by making meals at home vs. going out to eat.


It's definitely extreme, I bring much better food (than a ham sandwich) to lunch; I cook myself and it ussually costs less than a dollar.

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LucJoe said:   
Glitch99 said:   
AcidSpectrum said:   pay credit card bills weekly (use bank/cu free bill-pay), saves money on interest and less likely to have late fees.

It only saves on interest if you are carrying a balance and paying interest. Otherwise, monthly is perfectly fine. Just focus on your statement date, not your due date (pay the bill when you get it, not when its due).

  Why is that?  Assuming a credit card has a statement date of the 11th of each month, and a due date of the 6th of each month, I was under the impression the time between receiving your statement no interest accrues.  Are you saying the interest starts immediately when a statement is issued and the "Due date" is just to avoid late penalties?

  On my chase freedom, I have a BT with 0% interest (I paid a 2% when I started). If I make a normal purchase with that card, then the interest for the purchase starts accuring immediately, not after the due date. I've had this happen when I got in on the quarterly 5x deal.

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king0fSpades said:   
US1549 said:   Bag lunch to work. Cost of a ham sandwich $2 VS. going out of $5-7

Ham sandwich? Why are we even living? How about become homeless or suicide? If a person cannot enjoy a decent lunch what is the purpose of life? Should look into getting a better career.

Lets do the math, 22 days of work/month, saving just $1300 per year and eating crap for whole year and rest of your life? This is an absolutely ridiculous suggestion. I never did this in my life did this and I turned out OK.

  
I've lost a lot of weight since I switched from eating out to a turkey sandwich (leaner than ham) for lunch. Yes sometimes I stare at the cold, dry sandwich and feel like jumping out the window. But the amount of attention I get nowadays from the opposite sex is priceless

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beyond827 said:   
king0fSpades said:   
US1549 said:   Bag lunch to work. Cost of a ham sandwich $2 VS. going out of $5-7

Ham sandwich? Why are we even living? How about become homeless or suicide? If a person cannot enjoy a decent lunch what is the purpose of life? Should look into getting a better career.

Lets do the math, 22 days of work/month, saving just $1300 per year and eating crap for whole year and rest of your life? This is an absolutely ridiculous suggestion. I never did this in my life did this and I turned out OK.

  
I've lost a lot of weight since I switched from eating out to a turkey sandwich (leaner than ham) for lunch. Yes sometimes I stare at the cold, dry sandwich and feel like jumping out the window. But the amount of attention I get nowadays from the opposite sex is priceless

  I'm okay with the same tasteless stuff everyday, but how do you deal with the hunger pains?

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One simple change: some products marketed specifically to women have major mark-ups over similar products for men and are major rip-offs (razors, deodorant, shaving cream, soap, shampoo, body wash, etc.. even pain relievers!)

 Ignore gender labeling and buy the cheaper version.
 

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Look at any RECURRING expenses and eliminate the ones you don't need. Monthly fees add up quickly in our credit hungry society. Take on risks on things like insurance, I haven't carried collision insurance in years. Cut mortgage payments, minimize food expenditures and cut cable expense (if you don't cancel, you can cut out phone, slow down your web speed, cut a deal).

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Don't end up consuming more food just because it's a better value to buy more, e.g. stepping up the size of a drink. The law of diminishing marginal utility proves that the last sip won't be as satisfying as the first.

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corporateclaw said:   
 

This is something I'm learning now, we are getting ready to move and I'm finding that the nice lazy boy couches we have are basically worthless even though, I'm sure people are dropping 2K on the same thing at the lazy boy dealer down the street, yet the table and hoosier we got off CL we are going to PROFIT selling back on CL.

  Same reason you bought your couches new but tables used - everyone else is doing the same thing. Who knows what's on the used couch?

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Hey guys.  I read this entire thread.  Thanks for sharing the tips.  Here is my tip....

google the 52 week savings challenge.  I have done it already and it's my second year doing it.  I have two accounts this year. Last year, it helped my family pay for a 4 day vacation and also paid a few annual bills.  (tag renewels, license renewels, ect).  This year, we will use one account to help pay for bills and one for fun/vacation/gifts. 

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stompoutloud said:   Hey guys.  I read this entire thread.  Thanks for sharing the tips.  Here is my tip....

google the 52 week savings challenge.  I have done it already and it's my second year doing it.  I have two accounts this year. Last year, it helped my family pay for a 4 day vacation and also paid a few annual bills.  (tag renewels, license renewels, ect).  This year, we will use one account to help pay for bills and one for fun/vacation/gifts. 

  FWIW, the "challenge" is to create an account specifically for this savings and deposit $(n+1) dollars in it where n is the number of the week in your challenge.  1, 2, 3, 4, 5 ... 52 .   In the end, you end up with $1,378 in the account.

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