Comments on: Back to Basics: Downsize http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/ Personal finance, commentary, and spending less the easy way Fri, 19 Mar 2010 14:24:44 -0400 http://wordpress.org/?v=2.8.6 hourly 1 By: Chicken http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/comment-page-1/#comment-182698 Chicken Sun, 28 Jun 2009 03:39:35 +0000 http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/#comment-182698 Stretch out your dinners. We had a pot roast last us two days worth of meals ... we had tacos the first night, barbecue sandwiches the next. No one knows the difference in the meat, just keep it going in the crock pot on warm. As for cellphones, get a prepaid cell phone ... and pay for only the services you use and you can cancel it anytime without having to be trapped for years in contracts. Just live below your means and you'll do fine. Stretch out your dinners. We had a pot roast last us two days worth of meals … we had tacos the first night, barbecue sandwiches the next. No one knows the difference in the meat, just keep it going in the crock pot on warm. As for cellphones, get a prepaid cell phone … and pay for only the services you use and you can cancel it anytime without having to be trapped for years in contracts. Just live below your means and you’ll do fine.

]]> By: mbhunter http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/comment-page-1/#comment-162168 mbhunter Thu, 20 Nov 2008 05:26:13 +0000 http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/#comment-162168 Erin: I should clarify. I agree with you. My wife had a "massage club" that was basically a year-long commitment, and she found that she didn't need that much massaging. So she paid for her "monthly massage" and had to really use up a lot near the end of the contract. It would probably be better for us to buy as we need rather than make a commitment. Erin: I should clarify. I agree with you. My wife had a “massage club” that was basically a year-long commitment, and she found that she didn’t need that much massaging. So she paid for her “monthly massage” and had to really use up a lot near the end of the contract. It would probably be better for us to buy as we need rather than make a commitment.

]]> By: Erin http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/comment-page-1/#comment-161312 Erin Thu, 13 Nov 2008 20:38:52 +0000 http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/#comment-161312 I agree that it is important to prioritize your expenses, and cut the unnecessary ones. But I have to take issue with cutting things like massage. For those of us who try to avoid spending lots of money on health care and doctor visits, things like massage, chiropractic care, and acupuncture can actually save money. These types of alternative health care can lower your stress, increase your energy, and boost your immune system. Spending $55-75 once or twice a month on one of these treatments can later save you the cost of antibiotics, antidepressants, doctor visit co-pays, and the time that anxiety and lethargy can suck from your life. I feel like investing in my health is one of the best investments i can make! I agree that it is important to prioritize your expenses, and cut the unnecessary ones. But I have to take issue with cutting things like massage. For those of us who try to avoid spending lots of money on health care and doctor visits, things like massage, chiropractic care, and acupuncture can actually save money. These types of alternative health care can lower your stress, increase your energy, and boost your immune system. Spending $55-75 once or twice a month on one of these treatments can later save you the cost of antibiotics, antidepressants, doctor visit co-pays, and the time that anxiety and lethargy can suck from your life. I feel like investing in my health is one of the best investments i can make!

]]> By: Lady http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/comment-page-1/#comment-159774 Lady Mon, 27 Oct 2008 06:56:05 +0000 http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/#comment-159774 You've got a great list here! :) I enjoyed reading all of them, and found them helpful. Here are some tips I do to save money, and help me have more income at the end of the month (or year if I were to go that far) 1. Make your own lunch and bring that to work instead of buying in the cafeteria or eating out. 2. Cut down on the gourmet coffee or tea expenses. If you want gourmet coffee, make one yourself with the ingredients you have at home! :) 3. To get from one place to another: Carpool if you can. Walk if you can. Ride a bike if you can. ---This saves gas, money from parking and gas, and helps you trim down your waist. ^^ 4. A variation of my number three is to plan out your commute itinerary the night before with your family---this way, you can do things in one round instead of going back and forth. Cheers! :) You’ve got a great list here! :) I enjoyed reading all of them, and found them helpful.

Here are some tips I do to save money, and help me have more income at the end of the month (or year if I were to go that far)

1. Make your own lunch and bring that to work instead of buying in the cafeteria or eating out.

2. Cut down on the gourmet coffee or tea expenses. If you want gourmet coffee, make one yourself with the ingredients you have at home! :)

3. To get from one place to another: Carpool if you can. Walk if you can. Ride a bike if you can. —This saves gas, money from parking and gas, and helps you trim down your waist. ^^

4. A variation of my number three is to plan out your commute itinerary the night before with your family—this way, you can do things in one round instead of going back and forth.

Cheers! :)

]]> By: mbhunter http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/comment-page-1/#comment-159591 mbhunter Sat, 25 Oct 2008 05:44:52 +0000 http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/#comment-159591 ChristianPF and Harley: I don't think downsizing the tithe is a good idea. I put the question mark on the end of that one ("Downsize your tithe?") as an indication of this, but it was a very weak indication. Thanks for calling me on this and reminding me that I need to be bolder with God's work. ChristianPF and Harley: I don’t think downsizing the tithe is a good idea. I put the question mark on the end of that one (”Downsize your tithe?”) as an indication of this, but it was a very weak indication. Thanks for calling me on this and reminding me that I need to be bolder with God’s work.

]]> By: David http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/comment-page-1/#comment-159586 David Sat, 25 Oct 2008 04:54:57 +0000 http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/#comment-159586 I've decided to downsize my traveling back home this holiday season. Yes, it will be hard to not see family and friends around Christmas, but I know that they understand why a soon-to-be-newlywed would want to try to save as much money as he can. I'll just make more phone calls instead. I'll also scale back on gifts this year, by suggesting a gift exchange with family and friends instead of everyone buying a present for everyone else. I’ve decided to downsize my traveling back home this holiday season.

Yes, it will be hard to not see family and friends around Christmas, but I know that they understand why a soon-to-be-newlywed would want to try to save as much money as he can. I’ll just make more phone calls instead.

I’ll also scale back on gifts this year, by suggesting a gift exchange with family and friends instead of everyone buying a present for everyone else.

]]> By: Nick http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/comment-page-1/#comment-159580 Nick Sat, 25 Oct 2008 03:19:20 +0000 http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/#comment-159580 Buying generic foods, eat in more (cooking is fun!), and utilizing your library can save you a lot of money with no real drop off in quality of life. Buying generic foods, eat in more (cooking is fun!), and utilizing your library can save you a lot of money with no real drop off in quality of life.

]]> By: Andy @ Retire at 40 http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/comment-page-1/#comment-159541 Andy @ Retire at 40 Fri, 24 Oct 2008 21:35:59 +0000 http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/#comment-159541 Currently, I am also <a href="http://retire-at-40.blogspot.com/2008/10/5-ways-to-de-clutter-and-simplify-your.html" rel="nofollow">downsizing my belongings</a>. There's nothing more satisfying than getting that clutter out of your life. Thanks for the list ... I need to do one or two more of these things. Currently, I am also downsizing my belongings. There’s nothing more satisfying than getting that clutter out of your life.

Thanks for the list … I need to do one or two more of these things.

]]> By: Harley Pebley http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/comment-page-1/#comment-159526 Harley Pebley Fri, 24 Oct 2008 18:27:07 +0000 http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/#comment-159526 Great list! Re: Downsizing vehicles. While what you say is true in general, it's easy to use this to rationalize getting a vehicle that ends up not saving as much as expected. You have to take capital expenditures into consideration and not just gas cost. For example, you have a paid for vehicle that gets 20mpg. You're looking at a replacement that gets 30mpg and will cost you, after using the money from the sale of your existing vehicle, $10k. Assume all other costs are equal (maintenance, repairs, etc). The difference between these vehicles is 10mpg. At $4/gallon you could buy 2500 gallons for that $10k. Given the 10mpg difference, you have to drive 25,000 miles to break even. For the typical American, this is 2 years before realizing any savings to the budget. If you have to finance the $10k, the break even point is further out. If the insurance on the new vehicle is higher, the break even point is further out. If you spend more than $10k, the break even point is further out. Downsizing a vehicle makes most sense (to me anyway) only if you're replacing it with a vehicle that costs the same as what you can sell your existing vehicle for. In other words a zero capital expenditure transaction. This may involve getting a vehicle not quite as nice as what you have currently or getting something older than what you'd want. The problem is we tend to want to upgrade when we make vehicle changes. If we follow this desire, our savings on gas will probably not be happen as soon as expected. Re: Downsizing your tithe: Need to mention Malachi 3:10: "Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this," says the LORD Almighty, "and see if I will not throw open the floodgates of heaven and pour out so much blessing that you will not have room enough for it." Great list!

Re: Downsizing vehicles. While what you say is true in general, it’s easy to use this to rationalize getting a vehicle that ends up not saving as much as expected. You have to take capital expenditures into consideration and not just gas cost.

For example, you have a paid for vehicle that gets 20mpg. You’re looking at a replacement that gets 30mpg and will cost you, after using the money from the sale of your existing vehicle, $10k. Assume all other costs are equal (maintenance, repairs, etc). The difference between these vehicles is 10mpg. At $4/gallon you could buy 2500 gallons for that $10k. Given the 10mpg difference, you have to drive 25,000 miles to break even. For the typical American, this is 2 years before realizing any savings to the budget.

If you have to finance the $10k, the break even point is further out.

If the insurance on the new vehicle is higher, the break even point is further out.

If you spend more than $10k, the break even point is further out.

Downsizing a vehicle makes most sense (to me anyway) only if you’re replacing it with a vehicle that costs the same as what you can sell your existing vehicle for. In other words a zero capital expenditure transaction. This may involve getting a vehicle not quite as nice as what you have currently or getting something older than what you’d want. The problem is we tend to want to upgrade when we make vehicle changes. If we follow this desire, our savings on gas will probably not be happen as soon as expected.

Re: Downsizing your tithe: Need to mention Malachi 3:10: “Bring the whole tithe into the storehouse, that there may be food in my house. Test me in this,” says the LORD Almighty, “and see if I will not throw open the floodgates of heaven and pour out so much blessing that you will not have room enough for it.”

]]> By: My Familys Money http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/comment-page-1/#comment-159512 My Familys Money Fri, 24 Oct 2008 15:19:41 +0000 http://www.mightybargainhunter.com/2008/10/24/back-to-basics-downsize/#comment-159512 Going along with kivers, buy less meat. Meat can be pretty expensive - especially when you can buy a pound of beans and a pound of rice for every pound of super-on-sale chicken. Another thing you can do is only buy certain fruits and vegetables when they are in season because this is when they are cheapest. Yet another thing you can do it stop buying anything that is processed (chips, sodas, mac and cheese, top ramen, canned soups, cookies, breakfast bars, cheese, etc.). These things rip into your budget and really increase your cost per person per month. Going along with kivers, buy less meat. Meat can be pretty expensive – especially when you can buy a pound of beans and a pound of rice for every pound of super-on-sale chicken.

Another thing you can do is only buy certain fruits and vegetables when they are in season because this is when they are cheapest.

Yet another thing you can do it stop buying anything that is processed (chips, sodas, mac and cheese, top ramen, canned soups, cookies, breakfast bars, cheese, etc.). These things rip into your budget and really increase your cost per person per month.

]]>