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-   -   Frugality Tips In A Budget Squeeze (https://www.airlinepilotforums.com/money-talk/23893-frugality-tips-budget-squeeze.html)

Slice 04-29-2008 04:10 PM


Originally Posted by rickair7777 (Post 371530)
I use a credit card for almost everything, but pay it off each month.

The problem with cash is that $2 ATM fee while on the road...I don't want to carry around $400, so if I pull $200 I'm paying 1% just to use the ATM.

I'm not going to give up espresso, but we did get a decent machine for home use so I can save the starbucks tax when not on the road.

If you're going to be in your house for a while, do all the insulation upgrades. This will save big on the energy bills, and increase value when/if you sell.

Get a new water heater and HVAC system if yours is old...new ones are VERY effecient.

Rick, USAA will reimburse your ATM fees every month. Up to $15 I believe. Plus if you use your debit card for purchase but select 'credit' you get cash back monthly too.

SkyHigh 04-30-2008 05:42 AM

Credit Cards
 

Originally Posted by Cubdriver (Post 345002)
Frontline (PBS) ran a story about credit card companies recently; they make billions off dollars per year by extending credit to people who think they will pay no interest because they will simply pay off the balance by the end of the month. I actually have no credit cards and never subscribed to the argument that you need them for hotels and rental cars.

You might need them to build a good credit rating.

SkyHigh

SkyHigh 04-30-2008 05:48 AM

The Biggest thing
 
I think the biggest thing anyone can do is to carefully track every single dollar and to make conscious financial decisions. Either Cash or credit cards usage can blow a fortune if you are not able to control spending.


Skyhigh

jedinein 04-30-2008 05:32 PM

1. Sell every unused item on eBay or donate 'em. If it ain't touched in a year, it's gone.
2. Second job to afford the Starbucks every other day or so.
3. Own side business in addition to second and first jobs to keep the extra mocha-frappa-whatever in the Starbucks.
4. Netflix! No Cable TV = no advertising telling me to buy more junk and lots more time to spend on the businesses.
5. Amazon & pricescan to buy things at the right price.
6. 1-2 pairs of shoes, only, that last for years.
7. High quality clothing purchased during sales, they last for years.
8. No kids.
9. "Self-contained" pets that don't require grooming, vets, toys, and kennels during trips.
10. Cheap apartment and/or roommates, not spending $1.5 mil for a $32K home.
11. Buying non-perishable food items at Target (in L.A.) instead of grocery stores = $100-200 monthly savings on food bill
12. Side businesses allow all aviation junk to be tax write-offs, plus good tracking of traveling expenses means correct calculation of per diem write-offs.
13. Not competing on price in side businesses which actually allows for a profit.
14. Being willing to ruthlessly cull overhead when needed to ensure side business survival.
15. Living place has gym setup including pool, add one set of weights for the apartment and that saves the monthly gym fees.
16. Own one's car. Use payment amount to save for next car. Trade-in next car plus savings and drive new car 'til it falls apart while saving for next car. Rinse and repeat.
17. Work hard.
18. Splurge on earplugs, purchased through Amazon or like, to tolerate living in apartment or with roommates.
19. Don't compromise your morals, values, or integrity to make a buck.
20. Buy for $0.50, sell for $1.00.

The number one way to save money? No social life.

BTW, I let the accountants worry about every single dollar. I give myself an allowance of a certain amount a month where I don't worry about how it is spent. When it is gone, it is gone. If I have some leftover, there's some extra for the next month. It might not be the most frugal thing to do, but it is certainly the most peaceful.

YMMV.

KBAR 04-30-2008 11:02 PM


Originally Posted by MalteseX (Post 369873)
If you pay it off, you are not paying interest. Just the cost of the stamp.

Have had several credit cards for 23 years. Never paid interest on any of them. Come to think of it, I've never had a loan--I don't know how you'd even apply for one.

Forget the stamp. I've paid everything online for the last 2 years.
$0.41 x 12 pmts = $4.92 <~~ There's a latte and a muffin or whatever you like.

And it'll be $0.42 (x12 = $5.04) on May 12 http://www.usps.com/prices/welcome.htm

KBAR

KBAR 04-30-2008 11:14 PM


Originally Posted by rickair7777 (Post 371530)
If you're going to be in your house for a while, do all the insulation upgrades. This will save big on the energy bills, and increase value when/if you sell.

Get a new water heater and HVAC system if yours is old...new ones are VERY effecient.

America could save 30% on annual usage with insulation upgrades across the board is what I hear from the insulation industry. Plus, you can do your own home energy audits (Energy Star insulation info).

My dad also got a new furnace and he's told me it's a big difference in the lower energy usage. It won't take long to pay for itself.

Other upgrades: newer washing machines save water and use less energy. Toilets that flush different amounts for #1 vs. #2. LCD Tvs use less energy than plasma screens. Then plug the power strip into a wireless outlet and you keep it from drawing current while not in use.

KBAR 04-30-2008 11:41 PM


Originally Posted by jedinein (Post 376910)
1. Sell every unused item on eBay or donate 'em. If it ain't touched in a year, it's gone.
15. Living place has gym setup including pool, add one set of weights for the apartment and that saves the monthly gym fees.
18. Splurge on earplugs, purchased through Amazon or like, to tolerate living in apartment or with roommates.
19. Don't compromise your morals, values, or integrity to make a buck.

The number one way to save money? No social life.

1. Don't forget selling on Amazon or craigslist. We've had good success at Amazon

15. I refuse to pay for another gym membership ever. I'm doing pushups, burpees, sprints, pullups, etc instead. I've been inspired by John Peterson- http://www.transformetrics.com/products and would recommend his methods to anyone

18. Look into custom fit earplugs also if you're looking to splurge. They'll help out if you're not able to get around that not having kids issue as well. Another splurge earplug are the musician's filter earplugs. Those you can fly with and have better protection options because you can get different filters.

19. "Don't compromise your morals, values, or integrity to make a buck." -jedinein

No social life. Your drink costs whatever the bartender says it does. My liquor bill is much lower drinking at home on the back porch with the BBQ. Have your friends over for a party I guess.

Btw, I've been accused of being a cheap bastard before and it still doesn't bother me. I pay off my credit cards every month, make 1.25% cash back + "grace period accrued interest" on my high yield savings account. I keep an eye on my credit score and determine when I open 0% interest Credit cards to make money from the bank interest by not paying off the balance until the 0% period is over. The Brits call it "Stoozing" - Google it.
It's takes discipline though. Microsoft Excel makes it easier though.

I've also been driving a lot nicer to conserve gas - it actually makes a difference when you don't accelerate so fast and use neutral to coast.

It looks like I'll be growing vegetables this year. Eating out is down to "not often". And let's not forget hunting. In Colorado, it cost me $25 for that deer tag and I've got more meat than I can eat in a month. Of course, you spend some $$ to get there and other factors, but it's practical for some if you're set up for it. I'm not to the point of keeping my own chickens though.

I got a lot of ideas from reading Go Green by David Bach

KBAR

KBAR 05-01-2008 09:20 PM

Web sites promote "hypermiling" to save on fuel
 

PHILADELPHIA (Reuters) - As U.S. gasoline prices hit records on almost a daily basis, an
increasing number of motorists are following a radical driving technique designed to eke
out every last mile from a tank of fuel.

Known as 'hypermiling,' the method can double gas mileage, even in gas-guzzling vehicles that would normally get less than 20 mpg.

Promoted on a growing number of Web sites, hypermiling includes pumping up tires to the
maximum rating on their sidewalls, which may be higher than levels recommended in
car manuals; using engine oil of a low viscosity, and the controversial practice of drafting behind
other vehicles on the highway to reduce aerodynamic drag -- a practice begun a few years ago
by truck drivers.

The price of gasoline -- which hit a record of nearly $3.61 per gallon on Tuesday, according to
travel club AAA -- has rapidly emerged as the public's biggest economic concern.

Gas prices are a "serious problem," ahead of jobs, and healthcare, according to a poll released on
Tuesday by the Kaiser Family Foundation.

The "advanced" techniques of hypermiling are in addition to well-known approaches including
keeping speed down, accelerating gently, avoiding excessive idling and removing cargo racks to
also cut down on aerodynamic drag.

Adherence to hypermiling and other disciplines are designed to boost mileage well in excess of
the U.S. Environmental Protection Administration's official ratings, which apply to each car model.

COSTS SAVED

Wayne Gerdes, a former nuclear plant operator from Wadsworth, Illinois, and the originator of
hypermiling, said he gets 40-70 mpg out of his Ford Ranger pickup truck, about doubling its
official fuel consumption of 25 mpg.

Gerdes, 47, estimates that hypermiling has saved him $15,000 in fuel since he began the
technique after the attacks of September 11, events that convinced him that U.S. national
security was being undermined by its dependence on oil from the Middle East, and motivated
him to reduce his own fuel consumption.

"If every vehicle in the U.S. got 45 miles per gallon, we would not import any oil," he said.

Deron Lovaas, vehicles campaign director at environmental group the Natural Resources
Defense Council, said most hypermiling techniques are "sensible recommendations" that could drive
down demand and even prices if widely adopted.

"We should be looking under every rock for potential energy savings," he said.

He said he could not recommend drafting behind fast-moving trucks because it could potentially
lead to highway accidents.

Hypermiling can even make fuel-sipping gas-electric hybrid cars more efficient. Chuck Thomas, 50,
a computer programmer from Lewisville, Texas, said he has been getting 71 mpg from his
Honda Insight, a hybrid whose EPA rating is 58 mpg, in the two years since he has been hypermiling.

Among Thomas' techniques is "pulse and glide" in which he accelerates and then coasts with
the engine off until around 15 mph when he kicks the engine back on and accelerates again.
"It's the automotive equivalent of skateboarding," he said.

(Editing by Timothy Gardner and Philip Barbara)
http://news.yahoo.com/s/nm/20080430/...r35ReUyiWs0NUE

daytonaflyer 05-01-2008 11:52 PM

One word: Flowbee
http://www.flowbee.com/

Actually when the budget is slim, I prefer it's cheaper, more user friendly cousin: Robocut
http://www.robocut.com/

rickair7777 05-02-2008 09:24 AM


Originally Posted by KBAR (Post 377794)

A couple of problems here...

Tire Pressure: Higher pressure reduces side-wall flex, which generates heat and thereby wastes energy. So yes, it will save fuel, but if you exceed the vehicle's specified tire pressure the complex dynamics of steering and cornering may not work they way the designer intended...if you have to swerve, brake hard, or manuever on a rough road, the extra "bounce" in your tires could render the vehicle less or non-controllable, especially on rough roads. I always keep my pressure at the highest setting allowed in the owner's manual, and it does save gas and tire wear. Note: The sidewall rating on the tire is NOT the vehicle manufacturer's recommended pressure.

Low-viscosity oil: The oil weight specified for your vehicle is intended to cover all sorts of driving conditions, so if you have better-than-average driving conditions, you might be able to go with a lighter weight oil. These are mild driving conditions:

-Minimal Stop-and-go (freeway or country road type driving)
-Moderate speeds (70 or less)
-Paved roads, no dirt/gravel or dust storms.
-Mild temperatures
-Minimal steep hills
-Easy on the acceleration
-Change oil frequently

I wouldn't go more than one grade lighter, and only on the higher (hot) number. But you will be a test-pilot, and your warranty will probably be void. Also I wouldn't do this on a car you plan to keep for years.

Drafting: I wouldn't risk this unless you also happen to fly formation aerobatics with the person driving the other car. You have to be VERY close to get much benefit.

You can still get modest fuel savings simply by slowing down a little (both in cruise and off the line), and keeping your car tuned correctly. Also select a route that has fewer stops, even if it is longer...stop-and-go wears out drivetrain components and uses a LOT of fuel compared to just cruising along (think T/O power vs. cruise flight fuel consumption).


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