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Have no social life, it’s much cheaper.
But in all seriousness, if you have to have a social life, limit your spending on that stuff. Restaurant and bar tabs can add up quickly. Budget, limit your drinking, and if you don’t wanna limit your drinking, at least do some cheap drinking at home first.
We used to drink a quart of cheap beer in the parking lot before we went to the nightclubs. We had spares in the trunk for later if we sobered up too much.
USA edition:
If you’re a billionaire: vote Republican.
If you’re not a billionaire: vote Democrat.
(*) may not apply in elections where the Republican wants to start a profit-conflagarating civil war
War is a racket.
Brilliant book. Still relevant.
Smedley Butler was a great American.
And either way, you still get to be poor. Great system we have here.
At least you get to be poor with some basic human rights
This is what Democrats would put on their campaign signs if they were an honest party.
Me, LGBT: hahahahaha… oh you were serious? HAHAHAHAHA no.
What are you on about? Gay marriage was literally legalized by democrats.
Pop quiz! What was cumulative inflation for the last 4 years, and what was the change in working class wages?
Basically what I’m asking is, did people get more poor, or less poor? Were there any specific government actions that led to this outcome?
Unfortunately the official inflation number doesn’t represent real world price increases on necessary goods, which often outpace inflation.
This is a common talking point, totally dishonest in this case. What are you claiming the real inflation number should be, and why are you saying the prices of what real world goods went up by that amount? Like with citations and precise numbers.
69
If you can use credit cards responsibly, look into credit card churning for points. I fly business class for any extended flight and I pay less than what economy would cost.
Absolutely this, people paying cash and with debit cards end up just subsidizing points redemptions. Merchants aren’t eating card fees (typically 1.5-3% of a purchase), they just baked it into prices.
With a stable income, watching what you spend, and auto-pay, carrying a card balance is super easy to avoid these days.
Invest in tennis balls. They have a high rate of return.
Serious version. Probably mostly US-centric:
Credit cards are a tool. Just like any other tool, they can be useful or they can cause damage when improperly used. Educate yourself on how to yield a credit card effectively.
Credit cards are a tool. Just like any other tool, they can be useful or they can cause damage when improperly used. Educate yourself on how to wield a credit card effectively.
What he’s trying to say is, learn to use them like ninja stars - shuriken. They’re sharp and deadly if scaled properly.
Maybe like nunchucks. Use them wrong and they’ll whack you in the nuts.
When I worked at Barnes&Noble as a teen (~2007-2008), my coworker and I would just whip gift cards around at each other. Was a good three months.
Budgeting is very important. some people like the 20% of income for saving, 30% for living expenses and the other 50% for everything else. Pre or post tax is up to you as this is a rule of thumb. Important part is that it should be easy for you to build up your savings to cover important expenses. spending 50% of income on housing may be really bad since having back to back years of badluck can screw over your savings, and not give you enough time to save up in between.
This is a general rule that applies when you make enough to do so. If you’re struggling to pay rent, do what you can to remove risk and cut down on costs. One thing that helps is aiming to have savings. Often times, its cheaper to have money up front to resolve emergencies rather than later.
Car is one of those things that can make sense to remove. If you’re commuting one hour already by car, and there’s no public transit option then a car is a necessity. If you can take public transit, that could save you money on car insurance, car payments, car maintenance, and possible accidents.
i don’t know anyone who can keep their living expenses at 30%… is this finance tips for well-off childless people?
Make a budget, each month.
Write down your expected expenses. Keep it simple. Use paper and a calculator.
Rewrite the list, in order.
I’ve met so many people who are scared to do this, yet would be pleased if they did.
And compare your expected expenses to your actual expenses. Those occasional small things here and there can add up.
Use credit cards as cash, and pay off the balance weekly. This protects your bank account from fraud, as chargebacks and fraud are more easily dealt with on credit, and they tend to have better account monitoring and security than banks and credit unions. Even better if you have a cash-back/points card, that’s basically free money.
This also makes it easy to track spending if you have specific purpose credit cards. E.g, one card for groceries and gas, another for recurring bills or service payments, another for frivolous stuff, etc.
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Even if you have no other investments, open a high yield savings account and keep the bulk of your funds there, other than what you need for a general emergency fund and monthly bills. Current yields are over 4%, generally better than inflation, without any risk.
I had a ~20 paragraph reply on my clipboard but Voyager can’t post it.
G’day all :) What are your money saving tips? Thought I’d share some of mine in case they’re useful. But beware - I’m not qualified to give financial advice! Seek professional advice.
1 - Internet costs. If you get fair mobile reception, and have light to moderate Internet needs, you might find a 4G or 5G service will suffice. Belong has a data sim starting from $15 a month for 20 gigs. If you go over, it’ll still work at 1.5Mbps which is slow but still usable if you’re patient. On the other end, $70 for 400 gigs is hard to exceed. Aldi has similar offers but with data rollover, but at slightly higher rates than Belong. Depending on your usage patterns, it might be better value. 4G and 5G modems are quite expensive, but you can actually recycle many Telstra NBN smart modems by putting the sim card in them. They sell on ebay for about $50. The local towers have been upgraded but evening slow downs may still occur.
2 - Mobile Plans. Hard to beat Aldi for value in our area. $19 a month is probably all you need if you’re not doing a lot of video watching. Most other bargain offerings from Boost, Amaysim have been discontinued. You might know of a better deal? As an aside, smart phones around $300 are now perfectly fine to use with the caveat of mediocre cameras.
3 - Electricity. If it’s working, try energymadeeasy.gov.au to compare offers. At the moment Red seems to be one of the best value options but this can change. If you have solar but no battery, consider over-heating or over-cooling your home when the sun is shining. That way you’re using your home as a sort-of battery. If you’re not home much during sunlight hours, investing in solar might not be worth it at the moment. Upgrading to an induction stove and reverse cycle air-conditioning might be a better investment. Where possible use an air fryer instead of a big oven. An air fryer is just an oven with a stronger fan in it. You can also get a bench top induction hotplate for around $100. These can be great if you’re used to cooking with gas, as they are faster and give better control compared to a standard hot plate.
4 - Home and Contents Insurance. Shopping around may be your only option to find good deals. Some insurers won’t allow you to under-insure your home. Some, like Honey, will give you a significant discount if you install smart sensors that monitor doors, moisture, temperature.
5 - Car insurance. If you drive old bombs like me, you might only need third party property insurance. You need this in case you obliterate a Mercedes.
6 - Universal insurance. Perhaps my most controversial suggestion. If you have the discipline to do so, consider having savings reserved as an investment which can double as an insurance policy for random stuff like vet bills, breakdowns, etc. If you can’t afford private health insurance, this might also cover surgery out of your own pocket. It perhaps sounds counter intuitive, but having savings as a universal insurance policy allows you to use it for whatever need comes up rather than having separate insurances for pet, contents, car, funeral etc. If you think of the money you’re putting away as being an insurance premium - which is pretty much what insurance is anyway - it might be easier to understand. It’s all a risk of course - a big enough hit could wipe you out so for those things you probably need actual insurance.
7 - Investing. This is largely a follow-on from the above - and you maybe shouldn’t be taking advice from a guy who drives old bombs and who is not too far above the tax free threshold! Being diversified is probably wise. Cash under the mattress or in the safe is comforting, but because of inflation, it’s effectively stolen from you over time. Things with limited supply such as gold, silver, certain older cars / collectibles may be a hedge against inflation but not guaranteed. Regarding metals, beware of fraudsters. Some cryptocurrencies (which are often speculative assets with an inherent limited supply) may be a good hedge against inflation, but the relative value compared to regular currencies is highly volatile. Stick to the larger Australian exchanges and remember the key phrase ‘not your keys, not your crypto’. Also consider the tax reporting requirements. Services like Koinly will take care of that for you at minimal cost. For the a more conventional low risk option, my limited research suggests index funds are one of the safer investment options. Superannuation is probably also good to be aware of, but I’m not up on all the tricks for this other than avoiding having multiple funds. Government co contributions are also a thing. Your bank might have a high interest yielding deposit product that is simple to set up and still gives you easy access. Regional Australia Bank’s S30 for example. If you’re a home owner, you already have a massive head start at this time - although bubbles are still a risk and you can’t exactly sell off bits to do the shopping! I have no experience with investment properties etc so can’t speak to that. Likewise, I have no stock market experience.
8 - Cars. Generally, if you maintain your car it’ll last a long time. Change the oil at least as often as the manufacturer suggests. Get the transmission serviced as per schedule. Don’t trust a ‘lifetime transmission’ claim though. Lifetime = warranty period. On most cars, changing the oil yourself isn’t too difficult and YouTube has guides for most cars. I can’t really speak to the reliability and safety of modern cars vs older - that’s a choice you’d need to look into yourself. YouTube is handy for this stuff. I’m a bit concerned that some cars are made with an intentionally limited life span. I’m NSW your rego fee is based on weight. A smaller car will cost you less to run and rego, but probably won’t be as comfy. As an aside, driving at 80kph uses up to 20% less fuel than 100kph. If you don’t have someone behind you and you aren’t in a hurry, consider slowing down to save some money. Also, apps like PetrolSpy and NSW Fuelcheck may help you save a little on fuel - but consider your rewards schemes as well as this might change the equation. (bp rewards, flybuys etc.)
9 - Yourself. Keep a little bit active if you can. Use it or lose it is a good rule of thumb. (Although I might have already lost it!) I reckon as long as you get a bit of walking in, that’s not a bad effort. A treddy in front of the tele is a good incentive for wet days. You probably should do more, like lifting and stuff, but meh. Try to eat some real food every day. (Fruit and veg.)
10 - Subscriptions. Lots of streaming services competing for your attention. However, all the tv catch up services are free, and so is YouTube. Some will sign up to a service, binge a show, then cancel that subscription. Podcasts are also generally free. A good VPN may allow you to watch the free TV stations from other countries. Useful particular if you’ve come from another country and miss ‘home’.
11 - Vinnies and ADRA etc. Don’t need to buy new? The local charity shops have a good range of clothing and occasionally furniture as well.
12 - Heating. Already covered under electricity, but here’s some more. The most energy efficient heating is a reverse cycle air conditioner or split system, using under half the power for the same amount of heat compared to any type of electric heater. At temperatures below freezing some brands may struggle. Research before buying, and remember you can always supplement with another heater. All other electric heaters are rated in watts - a 1200w bar heater gives the same heat as a 1200w column heater or a 1200w fan heater. An expensive panel heater will be no warmer than an equivalent fan heater. The only caveat here is that a small bar or halogen heater placed strategically will heat what’s in front of it rather than trying to heat the room - so you might be able to get away with just 400 watts under the desk and still be nice and warm while you’re there. Gas and wood fires are nice, but unless you have your own supply they are probably the most expensive option. Electric blankets cost a pittance to run.
13 - Computers. Computers generally haven’t improved much over the last ten years. If you have a computer that takes ages to wake up but is fast once it’s been awake for a while, you might be able to greatly boost its speed by replacing one part only - costing typically $100 to $150 with installation. (An SSD). But if it’s randomly turning off for no reason, it’s time is probably up.
14 - Groceries Shopping by unit price may save you a lot. In other words, price per kg, price per sheet etc. Most stores have these prices displayed below the item’s purchase price. For the local stores in particular, watch for specials. If travelling to Armidale etc, weigh up the fuel costs vs shopping locally. Some shops charge a fee to tap and pay vs insert / swipe / eftpos. You might need to experiment to see which is the cheapest at each store. Or use cash…
15 - Teeth You only need to floss the teeth you want to keep. Xylitol based chewing gums are also great at killing the bacteria that causes tooth rot. Unfortunately Kirk’s no longer stocks any. Beware that Xylitol is toxic to dogs.
16 - TVs. Generally speaking, reduce the brightness in order to increase the life. It’s usually heat that kills TVs. You can turn almost any TV into a smart TV by adding a ChromeCast for about $60. Also useful if your ‘smart’ TV isn’t as smart as it should be. Side note: Many smart TVs use a technology to report what you’re watching back to the manufacturer. If you don’t like this, don’t connect it to the internet.
Amazing! Thank you for the tips and taking the time to write this!
Thanks!
Regarding the heating/cooling, if you’re home is decently insulated look into supercooling in the summer months. At higher temperatures your heat pump has to work harder to cool down the home. By running cooling overnight when temperatures are lower, it uses less power to the same result.
I cool my home to 68f from 2 am until 8 am on a schedule, and then the heat pump stays off until the indoor temps reach 74f. It’s provided a good amount of energy savings and helped me exceed the quoted power offset on my solar setup.
In order to save money, you have to start putting money back, even if you consider yourself too poor to save. Every time you get paid put $X aside and don’t touch it until it’s enough to do something with
And then don’t do anything with it other then invest it some more
Don’t buy anything unless you’re u can pay for it in full cash, you don’t need to use cash but it’s a good way to be prepared
I treat my accounts like hit points in a game. The higher it is, the more health i have.
Inherit your wealth!
Think of playing a 4x video game, focus every day on building your economic engine. Everything you spend should have some economic engine return (school, books, computer, etc)
Play this like 50 times https://buildyourstax.com/
Avoid debt.
Use the FASFA (in the us), if your under 25 marry another student (then your EFC is 0). Don’t pay for grad-school, only join programs that pay you.
Networking, and Experiences are more important then over-time alone. Building your network is part of building your engine. Join the club, go to the networking parties, improv group, show up sometimes to the toastmasters, NETWORKING IS WORTH THE TIME AND MONEY. But, always make sure your networking with people who inspire you, and don’t drag you down. It’s ok to hangout with the down group, just not habitually.
It’s ok to say no! No, really - you can say no to things. Nobody gives a shit about your phone, or car.
Learn how to use a spreadsheet (or just do the math by hand), get the TOTAL cost of all commitments over the life of the commitment (total cost of car, or house, etc), including all the one time origination fees. The only number that matters is the total cost, all the other numbers move around, but the total cost should drive your decisions.
Learn about your credit, and keep it clean (credit wise is good enough here)
Read Debt: The first 5000 years, appreciate the power of liquidity and opportunity costs.
Subscriptions are traps, avoid them as much as possible.
That site was pretty fun.
The game won’t let me put money into savings account on mobile for the first year :(
Sounds like a rendering issue. The buttons are on the bottom of the square. Try desktop mode
If you want to increase your credit score and are financially responsible, switch over to using a credit card.
Diversify your portfolio: Instead of putting everything into savings, split some of it into stocks and shares.
I’ve heard that they amount you should be putting into your pension is a percent of your income equal to half the age you were when you started saving. Not sure how accurate that is.
If you do happen to be well off and/or have a good job, spend your money on things you like rather than hoarding it.
Donating to charity and supporting small businesses is usually morally correct. If you have the means, tip your instance admin or developers of software you use.
Be careful when buying things that the seller can remove from you at any time. But don’t use that as an excuse to not buy things you’ll enjoy while you have them.
Money is easier to spend than to make.
Baby wipes are cheap and have a million uses. Don’t bother with distinguishing between feet wipes, hand wipes, butt wipes and face wipes: Normal skin doesn’t give a fuck.
What are y’all using wipes so often for? Why not just a facecloth / towel and do some laundry occasionally?
If you care about the environment and/or saving money, you should be avoiding disposable products as much as possible.
Yeah fuck you
- The dolphins and sealions
Don’t flush baby wipes. No matter what it says on the box. They will clog your plumbing.
Look up how cumulative interest works, then start investing in ETFs or index funds that follow MSCI World or S&P 500 for example. Then wait.
It’s been 4 hours. What’s supposed to happen?
Your returns start producing their own returns and eventually it snowballs.
Line go up
You’re supposed to learn how to check back in a few decades instead of hours.
To add to this, also research ETF and mutual fund fees! Sooooo many are more than willing to charge a “small” 1% fee that will cost you thousands of dollars or more. Others are bold and charge even more. Look for fees in the 0.01% - 0.03% range for your trusty index and targeted retirement funds. Some even have 0%, though those harder to come by.
