How Far do you make your dollars Stretch?

[SLAG]

I was Curious ChiefsPlanet..

How far can you Stretch your money?

I know some of you have got well paying jobs, lots of money in savings and investments, etc... but how did you get that way?

I also Know some of you live Check to check, month to month day to day, and just get by but dont really have any savings at all? (cough cough - the boat im in)

If anyone that has good financial know how is willing to share their budget and or stretching stratigies with us that would be great as well

Thanks for you time

[Pablo]

Drink half a gallon of whole milk.

Replace the missing half with water and shake it really good.

You've got skim milk...beautiful.

And at $4 a gallon you'll save a whole lot of cash, especially if you have children.

[SLAG]

Drink half a gallon of whole milk.

Replace the missing half with water and shake it really good.

You've got skim milk...beautiful.

And at $4 a gallon you'll save a whole lot of cash, especially if you have children.

That trick could work with , Juices, and soda's as well ;)

[Pablo]

That trick could work with , Juices, and soda's as well ;)Turn that Pepsi into Diet Pepsi. Half the calories and sugar per 12 ounce serving.

[Herzig]

Stop going out to eat as much as possible. You will save gas, $$$, and calories most likely...

[Coach]

I ignore buying the most common big company names that are pretty expensive and go for the cheaper one.

Limiting my eating out, as well as walking more often to grocery stores instead of driving.

[Mr. Flopnuts]

I'm jewish. Period. I like my money, and I do any and everything possible to save one single solitary dollar.

I cut coupons, I buy shit in bulk when it's on sale. If I buy something off of some random site on teh intraweb, I google for coupon codes for the site.

Frugal.

[2bikemike]

I have a good paying job and have had one for years. When I first started making good money I still spent it as faster than I made it.

Lesson #1 Unless you control your spending habits you will always spend everything you make.

Make a budget for everything and live in that budget. Maybe I am a bit anal about it but I can go back and tell you how much I spent on each budgeted item from as far back as 1993. Quit trying to keep up with the Jones's next door.

Lesson #2 Earning intrest on you money is good Paying intrest on your belongings is bad. With the exception of a home. Mortgage money is cheap money and is not a bad form of debt.

Don't get suckered into the cycle of owing on your credit cards. Get 1 or 2 cards and pay them off every month. Also try to get some form of rewards card. Myself I use Capital One for the Air Miles.

Lesson #3 Go get the book the "The Richest Man in Babylon" And follow those principals. Which is basically 10% of everything you make is yours to keep. That 10% should end up working for you making you money. You have to save to get ahead.

[KcMizzou]

I also Know some of you live Check to check, month to month day to day, and just get by but dont really have any savings at all? (cough cough - the boat im in)
You rang?

I'm a single dad with two boys. Money's tight at times, but we get by... because honestly, we don't have a choice.

Some times you have to eat hot dogs and macaroni and cheese. It's not fine dining, but it wont kill ya.

Not quickly, anyway. ;)

[Mr. Flopnuts]

You rang?

I'm a single dad with two boys. Money's tight at times, but we get by... because honestly, we don't have a choice.

Some times you have to eat hot dogs and macaroni and cheese. It's not fine dining, but it wont kill ya.

Not quickly, anyway. ;)

That shit is pretty good. We eat it in my house broke or not.

Edit: I will say that it has been over 5 months since I've indulged in this fine delicacy for reasons stated below.

[Pablo]

You rang?

I'm a single dad with two boys. Money's tight at times, but we get by... because honestly, we don't have a choice.

Some times you have to eat hot dogs and macaroni and cheese. It's not fine dining, but it wont kill ya.

Not quickly, anyway. ;)I can recall many a night with the finest All-Save mac-and-cheese, mixed with Fun Dogs... delicious stuff really.

My dad raised my brother and I on that type of stuff, we're still alive..must be something good about it.

[KcMizzou]

Yeah, don't get me wrong, it's not always like that... but there are times.

[Pablo]

Yeah, don't get me wrong, it's not always like that... but there are times.Oh, I get ya, but kids will really eat anything. You don't have to give a kid steak and shrimp to make them happy.

[KcMizzou]

Oh, I get ya, but kids will really eat anything. You don't have to give a kid steak and shrimp to make them happy.LMAO Yeah...

If I stocked the freezer with nothing but corn dogs and ice cream, they'd be good for about 8 more years.

[POND_OF_RED]

Depends on how soon my dealer calls me back.

[Rain Man]

I'm kind of counterintuitive at this phase in my life. I used to keep a budget and clip coupons and watch my spending, but at some point I realized that I could save a bit of money by doing that, but I could actually make more money by not worrying about small expenses and using that time instead to generate more income by winning another project.

I'm not sure I recommend that approach. It's worked for me, but I don't think it's a permanent deal.

[DaneMcCloud]

Here's a few:

Rewards Network: My wife and I have been members since 2000 and we've saved thousands on meals and drinks. Participating restaurants discount 10%-20% on food and drinks. And it's invisible. You attach your credit card(s) to the Rewards Network and receive a refund to your card a few days after visiting. It's awesome.

Entertainment Book: Not only are there several fast food coupons (McDonalds, Wendy's, Taco Bell, Subway, etc.) there are discounts on grocery store purchases. There's a $5 dollar off coupon for $50 dollar purchase or more for Ralphs out here. It's not a ton, but it's better than zero. The book is filled with saving (if you remember it!).

Internet Coupons: I don't care if I'm buying studio gear, toilet paper, blinds or power bars: I ALWAYS do a vendor/product search. I've found coupons for places like Vitamin Shoppe where I've saved 50% off of a $100 dollar order. Or Amazon coupons where's I've saved 25% off of a $600 dollar order. It's a little time consuming but always worth it (and they add up - Paypal coupon plus Vendor Coupon plus Specials equal HUGE savings).

American Express: We've owned an e-commerce site since 2001 and have used the Amex for every transaction. We signed up for Starwood points and haven't paid for a hotel since 2002. We traveled at least four weeks out of the year to places like Hawaii, Cabo San Lucas, Cancun, London, Rome, NYC, SF, San Diego and more. We haven't paid a cent for 5 star hotels and excellent room service.

Costco (no brainer): I don't buy gas anywhere else. I don't buy chicken, hamburger, hot dogs, bread, liquor, paper products (TP, paper towels, napkins, trash bags, tissue) or prescriptions any where but Costco.

[stumppy]

I've found that if I cut back on alcohol, drugs, and hookers my money seems to go a lot farther.

[DaneMcCloud]

I've found that if I cut back on alcohol, drugs, and hookers my money seems to go a lot farther.

Are hooker really that expensive in Everton?

[Miles]

American Express: We've owned an e-commerce site since 2001 and have used the Amex for every transaction. We signed up for Starwood points and haven't paid for a hotel since 2002. We traveled at least four weeks out of the year to places like Hawaii, Cabo San Lucas, Cancun, London, Rome, NYC, SF, San Diego and more. We haven't paid a cent for 5 star hotels and excellent room service.


Even without a personal business and only using it for my own expenses I am a big fan of Amex. Better if you save them up but I have gotten some great deals on lift tickets through their awards.

[stumppy]

Are hooker really that expensive in Everton?


The ones with teeth get top dollar around here.

[DaneMcCloud]

The ones with teeth get top dollar around here.

I figured the ones without teeth would be at premium.

At least they don't leave teeth marks for your sister to find later.

ROFL

[SPchief]

Spend less than you make? :shrug:

[DaneMcCloud]

Spend less than you make? :shrug:

Well, speculation can often lead to income streams as well, so that simple philosophy isn't always best.

Real estate, stocks, investments and other deals can pan out and generate huge amounts of income if wise decisions are made.

No one becomes wealthy by sitting on their hands.

[Miles]

Well, speculation can often lead to income streams as well, so that simple philosophy isn't always best.

Real estate, stocks, investments and other deals can pan out and generate huge amounts of income if wise decisions are made.

No one becomes wealthy by sitting on their hands.

Then what should I do with the windfall from only driving 55mph in 5th gear during my commute? I know I have that some other gear that I could put my car in but I wouldn't want to wreck the economy.

[DaneMcCloud]

Then what should I do with the windfall from only driving 55mph in 5th gear during my commute?

Like Stumpy, spend it on hookers and blow.

:p

[Miles]

Like Stumpy, spend it on hookers and blow.

:p

I think when I get done with those two I will make sure everyone knows they shouldn't drive over 55. Maybe we could even get the car manufacturers to put a line at 55 on the speedometer? None one could possible drive faster if that was done?

[CrazyPhuD]

So probably the number one thing you can do is set a budget and stick to it. FIgure out how much you want to spend on food, housing, etc and plan it out. Keep track of it and if you go over your budget figure out why? It will let you know which expenses are the biggest and if they are really needed.

Figure out what's important, decide when you buy something if you really need it and if it's worth it to you. If the answer is you're not sure then wait. Open up a savings account with real interest. Likely your bank savings account is generating a whooping 0.2% interest. You should be able to find a 3+% interest rate account with low starting limits. What you want to put in here is 3-6 months worth of living expenses. You don't want to raid this until you have to it's your emergency fund, in case of job loss or major expense.

If your company has a 401K use it. It's one way to save without trying to hard and every dollar you put in is one less that the government gets to tax. If the company has matching definately put in enough to max the match. It's free money you are missing out if you don't.

Really the biggest thing are budgeting(i.e. so you know what you are spending) and trimming unnecessary expenses. Mac and cheese and rice don't sound sexy but they are filling and allow you to spluge on something you need or really want later. Alot of it's about deciding what's important to you and not wasting money on things that are marginal.

You're not alone in the struggle there is a reason why the US has a negative saving's rate. But you can do it, you just have to decide what is important to you and set your goals accordingly.

Also if you have Credit card debt, unless the interest rate is ridiculously low, that should be your first goal. You're just throwing away money if you carry a balance. CC's are great if you pay them off every month, but they'll screw you if you don't. COnsider getting rid of them if you can't pay them off every month.

[blueballs]

If you can sleep well at night you're doing fine
possessions can keep you up nights
telling yourself it's for the kids is bogus - it's for you

[wutamess]

Here's my personal budget I've passed along in here before. I'll make one and share every year. I doubt anyone still uses it but it's what I've been living by for the last 8 years (with minor modifications/ additions). Like 2 bike, I can tell you where every dime has went since 2001.
http://www.kcpcrepair.com/dr/content/personal-budget-budgeting-tool

Here's some of my blog postings for people like you. Hope you enjoy. At least read the first and second one.
http://www.rapiddebtloss.com/blog/2008/04/14/my-rdl-introduction/
http://www.rapiddebtloss.com/blog/2008/04/21/dave-ramsey-total-money-makeover/
http://www.rapiddebtloss.com/blog/2008/05/07/dumping-debt/

[Baby Lee]

Patience is the key. Don't buy stuff when you want it. ID what you want and buy it when you get a finally good deal on it.
Like my HT
Receiver - MSRP $1250 - paid $500.
Speakers - MSRP $2500 [mains], $850 [surrounds], $450 [center] - paid $500 [mains], $300 [surrounds], $200 [center]

And on and on, from food to clothing to tools to furniture. Make do with basics until you find a great deal and stock up.

A couple years back, went to the annual Eddie Bauer closeout, when they announced 'everything $5, next 20 minutes,' sidled up with 15 pairs of pants and 20 shirts. Boom set for work duds for years.

Just this weekend, stocked up on Polo, Claiborne and Nautilus summer duds at $7.99 each.

[BWillie]

Don't buy a car that costs over $2,000. Buy things on the internet, I mean everything you possibly can buy it on the internet. From batteries to dry grocery...you'll find it to be ALOT cheaper. Don't go out to eat on your lunch hour, you'll waste endless amounts of money. Ebay. I bought a brand new 50 inch Plasma TV for $890 that costs $1400 in Costco and I didn't even have to haul it. Don't pay for chicks things on dates. Don't get married. Don't have kids. Don't go on extravagant vacations. Drive as little as humanly possible. That's about all I got for now.

[KCChiefsMan]

when I go grocery shopping I usually buy the cheap brands for a lot of stuff. Usually the price is close to half as brand names, but you don't lose much quality if any. Also, go into a store with a plan of what you are going to buy and don't impulse shop. I also shop at Costco, which is great for certain things. If you notice a good sale price on something, consider picking it up too.

[OmegaRed]

Some times you have to eat hot dogs and macaroni and cheese. It's not fine dining, but it wont kill ya.

We eat that all the time. It's also darn good when you add a can of $1.29 wolf brand chilli. (Or whatever chilli you like.) And call it chilli-mac.

[SLAG]

Thanks for the great info-

We are not in Horrible Shape, we bought our first home just about 2 years ago, we dont have any Credit card's but we do have some Loans and Lines of Credit.

We already probly over spent on the Cars- Nothing Extravagant We owe about 12.5 on the cars, about another 5k in personal loans/LOC- that we are paying down first - plan to knock off a chunk of it with the Stimulus Check- and another chunk when/if we get reimbursed from the Insurance company for having a home birth.

This may some awful to some of you but I think we are in good enough shape to start saving, and get the loans paid off- I work for a small company so there is no 401k.

Keep the good info comin

[KCChiefsMan]

I haven't drank in a month. Haven't gone out to a bar or to a liquor store. I bet I saved at least $500 this month. It also feels pretty good not to have a hang over

[stlchiefs]

Don't get married. Don't have kids.

You must've missed out on SLAGs background, he's working on the second coming of the Partridge Family. :) Good luck SLAG :thumb:

[Mr. Flopnuts]

I figured the ones without teeth would be at premium.

At least they don't leave teeth marks for your sister to find later.

ROFL

LMAO Took the words right out of my mouf. Oops, mouth. I have teeth.

[Mr. Flopnuts]

when I go grocery shopping I usually buy the cheap brands for a lot of stuff. Usually the price is close to half as brand names, but you don't lose much quality if any. Also, go into a store with a plan of what you are going to buy and don't impulse shop. I also shop at Costco, which is great for certain things. If you notice a good sale price on something, consider picking it up too.

So hard for so many people, but if you can avoid it, you will have more money. Period.

[trndobrd]

My attempts to stretch dollars have resulted in a lot of torn dollar bills.

[blueballs Jr]

I'm unemployed, but my daddy budgets crack from week to week off of his food stamps.

[BryanBusby]

I tip the strippers with dimes instead of dollar bills now. It's a lot cheaper to make it rain on dem hoes at 10 cents a pop.

[Rausch]

I've watched a #@it ton of cooking shows this year. Learning to cook (or cook new things) saves a ton on food. Hamburger, chicken, and medium priced steaks can be made 1,000 different ways so they don't get old.

Netflix has saved me God only knows how much money in late fees.

[Stewie]

I make a good salary, but I've really leveraged that with understanding investments. Not counting my yearly bonus, my investments have increased my income substantially. I'm an early riser and on Saturdays or Sundays I'm all over market analysis. A couple of hints: Find a commodity trader's advice from somewhere, they know markets better than anyone. Understand technical analysis of markets. It's a huge advantage. It takes some work, but anything of value always does. Grubbing for more money is far less satisfying and you're not at someone else's whims.

[chiefs1111]

yeah when I go food shopping a lot of the stuff isn't named brand stuff,that helps right there..... also someone mentioned the internet and thats god advice right there,you can always find great deals if you look around enough on the net. Also,I save my change. Sooner or later it really starts adding up for me,right now i am up to about 300 dollars since the last time i took it to the bank a couple months ago,it's how I got my xbox 360... Yeah it took a while but it was worth it......

[Mr. Flopnuts]

I've watched a #@it ton of cooking shows this year. Learning to cook (or cook new things) saves a ton on food. Hamburger, chicken, and medium priced steaks can be made 1,000 different ways so they don't get old.

Netflix has saved me God only knows how much money in late fees.

Speaking of steak. I'm so jewish that the only time I eat steak is when the butcher has them on clearance at half price. Rib eyes, NY, T-Bones, all around 5 bucks. I buy them and cook them that night.

[ChiefsLV]

I went to college and got a job as a software engineer. Here's some advice though, it's called birth control. Here's a formula to illustrate:

More kids == Higher expenses

[Rausch]

Speaking of steak. I'm so jewish that the only time I eat steak is when the butcher has them on clearance at half price. Rib eyes, NY, T-Bones, all around 5 bucks. I buy them and cook them that night.

I'll buy the cheaper cuts (sirloin, etc) and cut them in small cubes. Usually cook them in olive oil/scallions/peppers/garlic in a frying pan and then add them to rice/green beans/pasta/chili/etc. The small cubes suck up flavors and you can trim off the gristle and excess fat cheaper steaks tend to have...

[XXXshogunXXX]

I just learned this trick recently on how to stretch the bucks at the movie theater.

I pay for a movie at the movie theater and watch it full. Regardless of the outcome, I complain to the manager about how horrible the movie was and how it did not meet my qualifications as a good movie.

In return, I receive movie passes to watch another movie. Then I'd do the same, and I repeat in a cycle, having only paying for that first movie. The $12 I spent on the first movie can stretch out for years, saving me millions.

[Mr. Flopnuts]

I'll buy the cheaper cuts (sirloin, etc) and cut them in small cubes. Usually cook them in olive oil/scallions/peppers/garlic in a frying pan and then add them to rice/green beans/pasta/chili/etc. The small cubes suck up flavors and you can trip off the gristle and excess fat cheaper steaks tend to have...

That sounds like good stuff dude. I'm gonna have to try that. I love using sirloin in chili. It's awesome.

[Rausch]

I just learned this trick a recently on how to save stretch the bucks at the movie theater.

I pay for a movie at the movie theater and watch it full. Regardless of the outcome, I complain to the manager about how horrible the movie was and how it did not meet my qualifications as a good movie.

In return, I receive movie passes to watch another movie. Then I'd do the same, and I repeat in a cycle, having only paying for that first movie. The $12 I spent on the first movie can stretch out for years, saving me millions.

My $$$ saving tip at the movies is grabbing the big $7 bucket of popcorn someone just tossed in the bucket and tear it. Bring it back to the counter saying you tripped and it ripped so you need a new one, then paying the 0.25 it costs for the refil instead of full price.

Same works for the soda but I wouldn't recomend trying both at the same time...:evil:

[Mr. Flopnuts]

My $$$ saving tip at the movies is grabbing the big $7 bucket of popcorn someone just tossed in the bucket and tear it. Bring it back to the counter saying you tripped and it ripped so you need a new one, then paying the 0.25 it costs for the refil instead of full price.

Same works for the soda but I wouldn't recomend trying both at the same time...:evil:

HEATHEN!!!!!!!!!

[Mr. Flopnuts]

I got $100 that says we don't have a Rausch pile on now. Hmmmmm..........

[stlchiefs]

My $$$ saving tip at the movies is grabbing the big $7 bucket of popcorn someone just tossed in the bucket and tear it. Bring it back to the counter saying you tripped and it ripped so you need a new one, then paying the 0.25 it costs for the refil instead of full price.

Same works for the soda but I wouldn't recomend trying both at the same time...:evil:

ROFL You hate Big Movie too?

[Phobia]

if we get reimbursed from the Insurance company for having a home birth.


Wow. They just fall out at 40 weeks now, huh?

[Ebolapox]

Wow. They just fall out at 40 weeks now, huh?


ROFL

[Hammock Parties]

I steal a lot of crap off the internet. I haven't paid for a comic book in years. Not that I read all that many, anyway.

[Pablo]

I steal a lot of crap off the internet. I haven't paid for a comic book in years. Not that I read all that many, anyway.I haven't paid for a comic ever. Teh gayness if you ask me.

Oh, and steal your neighbors' unsecured internet access. Then you can use that free internet to look at free porn. That's cheaper than children.

[Hammock Parties]

I haven't paid for a comic ever. Teh gayness if you ask me.


Indiana Jones + Giant Squid = awesome

[SLAG]

Wow. They just fall out at 40 weeks now, huh?
I dont get it

:shrug:

[007]

We have a budget that we try to stick to as best we can. We have two credit cards PERIOD!!! We pay both off every single month. We try to buy whats on sale and turn to generics if we can deal with drop off on quality. We are driving the minivan less as well.

Also, bargain hunt on the bigger purchase over the internet. You will be really surprised what kind of savings you can find with a few searches before you hit the BUY button.

[DaneMcCloud]

We have a budget that we try to stick to as best we can. We have two credit cards PERIOD!!! We pay both off every single month. We try to buy whats on sale and turn to generics if we can deal with drop off on quality. We are driving the minivan less as well.

Also, bargain hunt on the bigger purchase over the internet. You will be really surprised what kind of savings you can find with a few searches before you hit the BUY button.

I've heard that great deals can be found on eBay for Rockband

[007]

I've heard that great deals can be found on eBay for Rockband

:p

At least it was my only bad experience. Normally I only buy from retail sources on the net though and then search for coupons codes.

It worked out in the end. EA sent me a brand new sealed copy of the game to replace it with under their warranty policy. All I had to do was send them the bad disk.

[DaneMcCloud]

:p

At least it was my only bad experience. Normally I only buy from retail sources on the net though and then search for coupons codes.

It worked out in the end. EA sent me a brand new sealed copy of the game to replace it with under their warranty policy. All I had to do was send them the bad disk.

Cool. Glad to hear that it worked out, though I do feel for you son. I'm sure he was psyched when the new copy arrived!

[007]

Cool. Glad to hear that it worked out, though I do feel for you son. I'm sure he was psyched when the new copy arrived!

Actually, Lzen saved the day. Since his Xbox was in the shop, he lent us his copy of Rock Band the next day in the interim.

Thanks again Lzen.

[DaneMcCloud]

Actually, Lzen saved the day. Since his Xbox was in the shop, he lent us his copy of Rock Band the next day in the interim.

Thanks again Lzen.

Cool move