Saving money "hacks"

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6 Iron
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Re: Saving money "hacks"

Post by 6 Iron » Wed May 04, 2011 5:04 pm

MediumTex wrote: but my forearms are starting to look like Popeye's.
It will be time to quit if your wife starts looking like Olive Oyl.
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Re: Saving money "hacks"

Post by MediumTex » Wed May 04, 2011 5:05 pm

6 Iron wrote:
MediumTex wrote: but my forearms are starting to look like Popeye's.
It will be time to quit if your wife starts looking like Olive Oyl.
Hopefully I will quit before that.
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Re: Saving money "hacks"

Post by Storm » Wed May 04, 2011 10:47 pm

Wonk, I bought that book you suggested, and I fully plan on GC'ing my own house within the next 1-2 years.  Thanks for the tip - that is going to save me a ton of money and hopefully my wife will be very happy with the McMansion I build for her...  ;D
"I came here for financial advice, but I've ended up with a bunch of shave soaps and apparently am about to start eating sardines.  Not that I'm complaining, of course." -ZedThou
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Re: Saving money "hacks"

Post by smurff » Thu May 05, 2011 4:56 am

Another hack:  unplugging all appliances (except the fridge and freezer) not in use can cut your electric bill by 25% or more.  TVs DVD players microwave ovens toasters lamps computers monitors etc.  These things all draw current and some are in an electricity-guzzling 'standby' mode even when  the power button is off.

To make life easier plug appliances into power strips. Then you can simply flip one switch to turn off six appliances.
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Re: Saving money "hacks"

Post by Coffee » Thu May 05, 2011 7:11 pm

smurff wrote: Another hack:  unplugging all appliances (except the fridge and freezer) not in use can cut your electric bill by 25% or more.  TVs DVD players microwave ovens toasters lamps computers monitors etc.   These things all draw current and some are in an electricity-guzzling 'standby' mode even when  the power button is off.

To make life easier plug appliances into power strips. Then you can simply flip one switch to turn off six appliances.
I saw on the Ed Begley Jr. show, about a year ago-- he had something called a "vampire switch" or a "vampire breaker" or something like that.  It was a switch you'd throw when you went to bed or left the house, that turned off all non-mission-critical outlets.
"Now remember, when things look bad and it looks like you're not gonna make it, then you gotta get mean. I mean plumb, mad-dog mean. 'Cause if you lose your head and you give up then you neither live nor win. That's just the way it is. "
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Re: Saving money "hacks"

Post by Coffee » Thu May 05, 2011 7:12 pm

This is probably it:

http://www.treehugger.com/files/2007/09 ... plug_o.php

Here's the money quote:

"It's funny, 'cos in Ireland, where I live, most of the plugs have switches!"
Last edited by Coffee on Thu May 05, 2011 7:14 pm, edited 1 time in total.
"Now remember, when things look bad and it looks like you're not gonna make it, then you gotta get mean. I mean plumb, mad-dog mean. 'Cause if you lose your head and you give up then you neither live nor win. That's just the way it is. "
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Re: Saving money "hacks"

Post by EM2 » Thu May 05, 2011 7:32 pm

Please, what does "GC your house" mean? 

Thanx.

Maggie
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Re: Saving money "hacks"

Post by moda0306 » Thu May 05, 2011 8:50 pm

GC means General Contractor.

It means you organize the different pieces of building your home: framing, plumbing, electrical, landscape, sheetrock, etc.
"Men did not make the earth. It is the value of the improvements only, and not the earth itself, that is individual property. Every proprietor owes to the community a ground rent for the land which he holds."

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smurff
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Re: Saving money "hacks"

Post by smurff » Thu May 05, 2011 10:49 pm

Coffee wrote: This is probably it:

http://www.treehugger.com/files/2007/09 ... plug_o.php

Here's the money quote:

"It's funny, 'cos in Ireland, where I live, most of the plugs have switches!"
Thanks for the link, Coffee.  Now I know where to refer people when they ask me about it.

When I lived in the UK, there were switches on the power outlets there, too.  It seems like a sensible thing to do.

I don't keep my toaster plugged into a strip--it needs too much current and will invariably overheat and interrupt the circuit.  I just keep the toaster unplugged until I need it.  But except for the deep freezer, fridge, FIOS modem, and DVR, everything else in the house is on some sort of surge protector or power strip with a switch. 

BTW, by the way the modem and DVR were (badly) designed, they have to run 24-7.  Verizon told me that the modem is needed to update the HD DVR several times a day, and the smart battery in the FIOS system knows when the power has been disconnected from the DVR so that battery power will automatically kick in.  Disconnecting them from the electric outlets will only force them to go to the battery, and the battery, which is designed to have just a few hours of back-up, will wear out in a couple of weeks and need to be replaced.  I know this from experience... ;)
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Re: Saving money "hacks"

Post by Storm » Fri May 06, 2011 11:22 am

The DVR needs to stay on, how else is it going to record your shows?  And turning off the Internet is blasphemy!  ;D
"I came here for financial advice, but I've ended up with a bunch of shave soaps and apparently am about to start eating sardines.  Not that I'm complaining, of course." -ZedThou
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Re: Saving money "hacks"

Post by smurff » Fri May 06, 2011 1:55 pm

Storm, I have atoned for both offences against human decency. 8)
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Re: Saving money "hacks"

Post by upside » Fri May 06, 2011 3:24 pm

Storm wrote: Wonk, I bought that book you suggested, and I fully plan on GC'ing my own house within the next 1-2 years.  Thanks for the tip - that is going to save me a ton of money and hopefully my wife will be very happy with the McMansion I build for her...  ;D
What's the title of the book?
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Re: Saving money "hacks"

Post by Storm » Fri May 06, 2011 4:08 pm

upside wrote:
Storm wrote: Wonk, I bought that book you suggested, and I fully plan on GC'ing my own house within the next 1-2 years.  Thanks for the tip - that is going to save me a ton of money and hopefully my wife will be very happy with the McMansion I build for her...  ;D
What's the title of the book?
Be Your Own House Contractor - http://www.amazon.com/Be-Your-Own-House ... 1580178405

Great book - he makes it sounds pretty simple.  I have a feeling the success or failure of your personal contracting experience is more dependent on the competency of your head carpenter, but it definitely sounds doable.
Last edited by Storm on Fri May 06, 2011 4:12 pm, edited 1 time in total.
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Re: Saving money "hacks"

Post by blackomen » Wed Apr 04, 2012 9:56 am

I prefer only to save money on the big ticket items in life (housing, car/transit, vacations, etc.) and don't really care too much about the small things..  (hate clipping coupons.)

Rent: If you're single, just rent a room in someone's house..  usually will cost about 1/2 of the going rate for a 1br in your area.

Car: Buy new, follow the recommended maintenance schedule, and keep it until costs become prohibitively expensive (whether it happens in 5 or 20 years.)

Transit: If you live in an area with reliable public transportation, consider buying their weekly/monthly passes and ride that all the time instead of driving.  Ditch your car and just rent one from say ZipCar if you need to take a roadtrip.

Vacation: When I traveled to Europe, I lived in Hostels (which were near the main train station in each city..)  Not only were they cheaper but they also eliminated the need to take a bus/cab in an unfamiliar city to get to your lodging for the day. I also bought, used, and abused a Eurail pass for cheap train travel all around the continent.

Anti-anxiety medication: I suffer from mild anxiety and I take L-theanine (over the counter) instead of buying expensive prescription medication.  Works like a charm.

Food: If you need to buy organic or natural, always check Trader Joe first before contemplating more expensive options (e.g. Whole Foods.)
Last edited by blackomen on Wed Apr 04, 2012 9:58 am, edited 1 time in total.
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Re: Saving money "hacks"

Post by doodle » Wed Apr 04, 2012 10:12 am

I recently dropped my cell phone plan by using an ipod-touch combined with the magicjack phone app. The cost is 10 dollars per year. If you have constant access to wifi and don't mind not being out of contact when you are out and about this could save you 500 dollars or so a year.

I have wifi at home, work, gym, and most coffee shops, restaurants in the city etc.. If I'm moving around I dont get calls but that doesn't bother me.
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Re: Saving money "hacks"

Post by bluedog » Wed Apr 04, 2012 11:10 am

moda,

What is PMI?

And what do you mean with ROI and LTV comments?

I'm assuming this has to do w/one's mortgage???

sorry i can't decifer the "hack" ??? 

thanks.
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Re: Saving money "hacks"

Post by moda0306 » Wed Apr 04, 2012 4:15 pm

PMI = Private Mortgage Insurance

ROI = Return on Investment

LTV = Loan to Value (on your home... it's a ratio... like if you owe $100k on a $200k home it's 50% LTV)

PMI will likely be charged on you until you reach 80% LTV.  It's usually .5% of the value of the mortgage, but goes away once you reach that level if you coordinate with the bank.  So if you're at 96% or 90% LTV, and you're paying .6% in Mortgage insurance, that amount is really a rate over whatever you need to pay to get to 80% LTV.

For instance, $180k mortgage on a $200k home is 90% LTV, and it'll take another $20k in cash to get to 80% LTV.  Well if you're paying .6% in PMI, you're paying $1,080 per year.  But since it would only take $20,000 to get rid of it, that $1,080/$20,000 is 5.4% of ROI on that amount of money.  Add that to the interest savings (assuming 4% mortgage, today), and you're at 9.4%.

So basically it pays to put enough down on your home to not have to pay mortgage insurance.  In other words... put 20% down.
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Re: Saving money "hacks"

Post by Xan » Wed Apr 04, 2012 4:41 pm

But the interest savings are tax-deductible, as is (up to an income limit) the PMI itself.  So it's not always so clear-cut.
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Re: Saving money "hacks"

Post by moda0306 » Wed Apr 04, 2012 4:56 pm

True.

But even 75% of 8.5% is 6.375%... so you're getting a guaranteed 6.375% on your investment during that time.

PMI is likely to soon be non-deducible, as well.... or so I hear.
"Men did not make the earth. It is the value of the improvements only, and not the earth itself, that is individual property. Every proprietor owes to the community a ground rent for the land which he holds."

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Re: Saving money "hacks"

Post by Gumby » Wed Apr 04, 2012 7:59 pm

If you've been against using CFL light bulbs due to their slow warm-up times and off-color, now is a great time to purchase LED light bulbs. The prices have come down over the past year, and typically these bulbs go on sale on Earth Day (coming up in a few days) at Lowe's and other retailers. Prices vary depending on where you live and what kind of local subsidies are priced in.

I found the following article to be helpful in deciding which bulbs to try...

http://nyti.ms/qnvFHR

...and we ended up replacing the recessed flood lights with these awesome Cree lamps from Home Depot:

http://nyti.ms/HVGdXU

Already seeing noticeable savings in my electric bill!
Nothing I say should be construed as advice or expertise. I am only sharing opinions which may or may not be applicable in any given case.
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Re: Saving money "hacks"

Post by bluedog » Wed Apr 04, 2012 8:09 pm

Thanks, Moda.

OK,we have the same thing in Canada, CMHC (CDN Mortgage and Housing Insurance).
We were always advised by our banker to wait until we had the 20% down...that's alot of waiting if you buy in the Greater Vancouver region!!!
But oh, such beautiful place to live!!!

Unlike Americans, we are unable to write off our mortgage interest or CMHC Insurance for tax purposes.
But, we do not have to declare any capital gains when one sells their primary residence.
So maybe it's a wash??
Just depends on the market...no crystal ball here...
sure wish we had those 30 yr term mortgage rates you folks have down there... 
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Re: Saving money "hacks"

Post by Storm » Wed Apr 04, 2012 8:10 pm

LEDs are great.  One thing I would say is that the technology is changing dramatically fast, and improvements are made every few weeks.  So, if you hold out until your existing incandescents or CFLs fail, you will probably get dramatically more efficient, longer lasting LEDs, with a better color temperature, for a cheaper price.

CREE is a great brand and almost all of the really good lights are based on a 3, 6, or 10 watt CREE LED.  In fact, I've seen some very awesome 10 watt CREEs that replace outdoor floodlights that took a couple hundred watts.
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Re: Saving money "hacks"

Post by goodasgold » Tue Mar 11, 2014 9:11 am

TennPaGa wrote: Reviving this old thread because I ran across this today:

http://www.amazon.com/exec/obidos/tg/browse/-/3003491
Receive up to 10% on top of your Federal Tax Refund when you file with TurboTax and use some (or all) of your Federal Refund to purchase an Amazon.com Gift Card from TurboTax.
It is far better, in my opinion, to exchange the federal tax refund for I-bonds in excess of the 10K limit per person currently in force. The last steps in the TurboTax menu gives this option when completing our tax forms.
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Re: Saving money "hacks"

Post by MachineGhost » Sun Apr 13, 2014 4:57 am

That gift card can't be resold for cash, so you're stuck paying Amazon's prices (and sales tax).  Good deal if you buy A LOT of crap from Amazon.
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Re: Saving money "hacks"

Post by murphy_p_t » Mon Nov 23, 2015 2:36 pm

freedompop phone to eliminate cell phone bill when lightly used or used over wifi network...works great...also use google voice on that freedom pp phone for unlimited voice and texts
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