| Cutting back household expenses |
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2Maggie
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| Cutting back household expenses |
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My hubby and I are having major financial difficulties, and we're finding it hard to rein in our spending!
This article... http://tinyurl.com/qfwccs …offered some suggestions on how to cut back and save money, but I still need more advice.
Please help!
- Maggie
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Wed Aug 12, 2009 6:25 pm |
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good2goo
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Those were some interesting tips. I probably should take some time to evaluate where all my money is going, but spending almost $900 a year on coffee from starbucks is insane. I like coffee, but I feel like Im being robbed if I go to Starbucks...their coffee is not worth what they charge.
To save some money I try to eat high fiber meals. I read a few places that it slows your digestion so you get hungry less often. I usually make a bowl of oatmeal if I get hungry in between meals which I find is cheaper and healthier than munching on Doritos.
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Wed Aug 12, 2009 6:55 pm |
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No-Brainer
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My suggestion would be to work on the other end, if you increase your income with a side job online, you can enjoy spending more. That's what I did.
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Pathway to Income
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Fri Aug 14, 2009 1:25 pm |
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LottomagicZ4941
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quote:
Originally posted by No-Brainer
My suggestion would be to work on the other end, if you increase your income with a side job online, you can enjoy spending more. That's what I did.
It is still easier for most of us to spend it then make it.
So not having waist full out flow is a good thing. Okay to waist some.
You got to live once in a while.
Coupons are getting to the point they want you to buy to much. Your not saving $$$ if the food goes to waist.
LottomagicZ4941 wants your recipie for sucess and feel free to get a free lotto pool entry if the econn has you down
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Fri Aug 14, 2009 2:58 pm |
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avont78
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Yes i definitely agree with No-Brainer...there's only so much that we could cut down for our expenses. Instead of only thinking in the direction of cutting expenses, do spend some time to think of ways to increase your income as well.
Life will be more wonderful if we could maintain our expenses but increase on our income! 
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Fri Aug 14, 2009 2:59 pm |
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No-Brainer
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quote:
Originally posted by avont78
Yes i definitely agree with No-Brainer...there's only so much that we could cut down for our expenses. Instead of only thinking in the direction of cutting expenses, do spend some time to think of ways to increase your income as well.
Life will be more wonderful if we could maintain our expenses but increase on our income!
I don't just post that because I read it somewhere. I have experienced the difference in my life of needing to pinch pennies compared to having $10,000 a month coming in and I will take the latter any day!
The sweet part is I got there by being willing to click on ads for a penny each.
US Click Ads
Pathway to Income
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Fri Aug 14, 2009 7:25 pm |
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Moneybagz
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Very interesting tips from the article. Hard to believe they saved over $9,500 a year from doing all that. I don't really need to "save" any money, but the article was still pretty interesting. I can't believe how much money people spend on cigarettes a year. They spend $1,560 a year! I was mostly amazed by the Starbucks one. They have good coffee but it's certainly not worth the price.
I might actually do those things in the article. I don't need to save any money, but it wouldn't hurt I guess.
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Fri Aug 14, 2009 7:46 pm |
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anz79
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1. Well if you rent you might consider buying, as the interest you pay is tax deductible.
2. Rent out a room in your house.
3. If you can get rid of your car then you can save a huge amount.
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Mon Aug 17, 2009 12:03 pm |
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littleroc02us
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quote:
Originally posted by anz79
1. Well if you rent you might consider buying, as the interest you pay is tax deductible.
I want to say this once and only once. Never buy a house to get a tax deduction. If you bought a $200,000 home with a 5% interest rate, you would pay the bank $10,000 a year in interest. You can then deduct that $10,000 in interest from your taxable income. So you would end up paying taxes on just $110,000 of your income, not the full $120,000. You can buy a house and pay the bank $10,000 in annual interest to get a tax break. Or, you can not buy a house, go without a tax break, and pay the IRS $3,500. You’re better off by just paying the IRS.
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Mon Aug 17, 2009 2:40 pm |
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coaster
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quote:
Originally posted by littleroc02us
Never buy a house to get a tax deduction..
I don't think the advice was to buy a house in order to get a tax deduction. The consequences of the tax deduction are one of the inputs into your decision-making process when comparing the finances of renting versus buying.
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Tue Aug 18, 2009 12:50 am |
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urvi88
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The article is perfect, all are the perfect ways. On the other hand you can find some ways from which you can generate extra income.
Personal financial Planning
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Tue Aug 18, 2009 11:30 am |
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LottomagicZ4941
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quote:
Originally posted by coaster
quote:
Originally posted by littleroc02us
Never buy a house to get a tax deduction..
I don't think the advice was to buy a house in order to get a tax deduction. The consequences of the tax deduction are one of the inputs into your decision-making process when comparing the finances of renting versus buying.
Hum did the tax deduction cauze people to buy more house? Could that have been part of the problem?
Perhaps we could faze out the intrest deduction on new home sales. Perhaps this could help fund health care reform.
Would you rather have a house or health care? Aren't apartments more environmental then single homes?
LottomagicZ4941 wants your recipie for sucess and feel free to get a free lotto pool entry if the econn has you down
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Tue Aug 18, 2009 6:39 pm |
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littleroc02us
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[[/quote]
Hum did the tax deduction cauze people to buy more house? Could that have been part of the problem?
Perhaps we could faze out the intrest deduction on new home sales. Perhaps this could help fund health care reform.
Would you rather have a house or health care? Aren't apartments more environmental then single homes?[/quote]
My answer to this would be No, No and No.
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Tue Aug 18, 2009 9:15 pm |
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JoeDuggins
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| Credit Cards |
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So here is the problem. If you do not have a stash of cash and you have been using all your extra money to pay down your credit card debt and they keep closing your cards down—what are you going to live on if you lose your job? Chances are you may not have any available credit limit to use to rely on since the cards are reducing those limits. You will not be able to get a new card since you are now not employed. So to help you in the event you lose your job, my advice is to pay just the minimum required on your credit cards every month and then use every extra penny you have to build your emergency savings fund.
Money without intelligence is like a car without a road.
-Intelligent Investing-
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Sun Aug 30, 2009 7:03 pm |
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