Saving Money (sale, coupons, how much)

[mamatotex97]

Cash only for us when we go out. This way there are no extra monthly bills coming in. This helps limit our spending. Blockbuster instead of the movies. Cooking at home more, but even that with what you spend at the store can add up...but ya gotta eat. Stopped buying name brand products for the most part at the store.
Got rid of my blackberry and switched cellphone plans.
Gas is killing us as hubby drives 90 miles round trip for work.

[wehotex]

Originally Posted by 1StarRanch

If you listen to the media, the economy is crashing before our eyes. I know here in SA were not feeling it so much besides the gas pump, and now with ethanol were seeing it in our groceries bills.

I noticed a poll the other day that asked, "How are you cutting back spending" or something along that line.

So I am curious, how are we DataHeads cutting back if we actually are? The poll suggested folks weren't eating out as much.

I also want to suggest some good free family fun of checking out your local library. You pay for it already, might as well use it.

i'm planning my errands more now than ever before. i will make two or three stops instead of just one using one trip. i am also eating out a lot less, making more sandwiches and cooking. i also cancelled time warner and am making do with network tv, the net, reading and netflix.

[Spock's Beard]

Gold! Instead of saving money, try making it grow, and buying gold is a safe bet. I don't mean buying that graded collector crap either. Buy gold as a commodity at market value.


Beyond that, question the lavishness of your expenses. Do you need a new car every two years just to drive a newer model? No. Do you really need a Wii or PS3? No. Do you and your kids really need IPods and Blackberry's? No. Does a teenager really need a car that's as new as possible with $2000 rims on it? No.

Find ways to make money by selling off things you really don't use any more. I made a nice profit by Ebay'ing tons of crap I had lying around in boxes.

KEEP YOUR DAMN JOB! I can't emphasize that enough. The job market is trashed and getting worst. Don't risk a new career right now because right now stability is better than pushing for advancement.

Still, you have to spend money. We all do. We spent our way out of the great depression, and will have to spend our way out of this recession. That's why the gtovernment is handing out extra refunds in May. If everyone just sits on their money, the economy will only get worst.

[texdav]

In my opinion getting out of debt ;using less gas and saving will do our economy more good that spending more.The government needs to cut back spending also.I agree with banker;our debt is the nomber 1 issue.

[SAnativegirl]

Spocks Beard (or anyone)

What about selling gold? I had never owned any but husband won a couple bars at work last yr or so when they were worth about 650 or so. Now at 1000 ea, should I sell or hang on to? I know its an impossible ?

and we are like chaka, living below our means. We have no credit card debt.
Fortunately, husband makes twice what he did 10 years ago. So we try to save alot, putting max in for his 401. We just opened 2 Roth accts and as long as I'm working, will put in the max monthly.

my job of 23 yrs is on shaky ground, we didnt even get paid last Fri! Chinese bought the co several years ago, and now sales are in the toilet. Most sales repand customers have abandoned ship, wish I could. Looking for work, but its tough out there. but we still take trips, eat out once in awhile, and we are looking for new TV for bedroom. What 37 in would you guys buy?

[Chaka]

Originally Posted by SAnativegirl

Spocks Beard (or anyone)

and we are like chaka, living below our means. We have no credit card debt.

I should clarify that we live this way partly because I do have debt - student loans and use 100% of my salary to pay them off (and a little bit left on my hybrid, which I bought new in 2005 when my 94 Isuzu Stylus died). We live entirely off my husband's salary. But otherwise we live quite simply and focus our spending on the things that matter to us.

[firstclassflyer]

Originally Posted by Spock's Beard

Gold! Instead of saving money, try making it grow, and buying gold is a safe bet. I don't mean buying that graded collector crap either. Buy gold as a commodity at market value.


Beyond that, question the lavishness of your expenses. Do you need a new car every two years just to drive a newer model? No. Do you really need a Wii or PS3? No. Do you and your kids really need IPods and Blackberry's? No. Does a teenager really need a car that's as new as possible with $2000 rims on it? No.

Find ways to make money by selling off things you really don't use any more. I made a nice profit by Ebay'ing tons of crap I had lying around in boxes.

KEEP YOUR DAMN JOB! I can't emphasize that enough. The job market is trashed and getting worst. Don't risk a new career right now because right now stability is better than pushing for advancement.

Still, you have to spend money. We all do. We spent our way out of the great depression, and will have to spend our way out of this recession. That's why the gtovernment is handing out extra refunds in May. If everyone just sits on their money, the economy will only get worst.

Spock's got it right. Buy Gold,Silver, Platinum and Palladium. Bullion only...no numismatic stuff. Even 90% silver "junk" coins will do in case *hit hits the fan.
What we are witnessing is unprecedented (look at Bear Stearns deal yesterday)...now Fed issues a rate cut OVER THE WEEKEND!! Very rare.

Bottom line....The American economy is not invincible. You are already seeing several forms of cash injection by the Fed.... Next step...world powers will probably try to prop the dollar up as best they can...but it won't be nearly enough. Then hyperinflation.

[firstclassflyer]

Originally Posted by SAnativegirl

Spocks Beard (or anyone)

What about selling gold? I had never owned any but husband won a couple bars at work last yr or so when they were worth about 650 or so. Now at 1000 ea, should I sell or hang on to? I know its an impossible ?

and we are like chaka, living below our means. We have no credit card debt.
Fortunately, husband makes twice what he did 10 years ago. So we try to save alot, putting max in for his 401. We just opened 2 Roth accts and as long as I'm working, will put in the max monthly.

my job of 23 yrs is on shaky ground, we didnt even get paid last Fri! Chinese bought the co several years ago, and now sales are in the toilet. Most sales repand customers have abandoned ship, wish I could. Looking for work, but its tough out there. but we still take trips, eat out once in awhile, and we are looking for new TV for bedroom. What 37 in would you guys buy?

Why in God's name would you want to sell now??? Unless you need the money, now is definitely not the same to be selling...you should be buying bullion.

[SAnativegirl]

Thanks Firstclassflyer- My husband is the one that thinks the price is going to drop, therefore wants to sell.

[KY Filly]

Originally Posted by firstclassflyer

Spock's got it right. Buy Gold,Silver, Platinum and Palladium. Bullion only...no numismatic stuff. Even 90% silver "junk" coins will do in case *hit hits the fan.
What we are witnessing is unprecedented (look at Bear Stearns deal yesterday)...now Fed issues a rate cut OVER THE WEEKEND!! Very rare.

Actually, if I had Gold right now I would definitely sell it and would not buy. Why? Buy low and sell high. Having had several years of experience in my past career in the financial services industry (not to say I'm an expert by any means, because I certainly am NOT!), to me the old adage I quoted (buy low sell high) is Investing 101. Same thing with stock....buy low, sell high. If had had extra cash now (other than the 20% we already invest in 401K) I would put it in the market. Stock is on sale now, especially if you have a 5+++ year window.

Regarding how to save money? Lots of theories on that one, but I would agree with others that regular investing into your retirement plan; not buying stuff on credit cards, cutting out a few things here and there can add up to more than you would think. These are just little things, but one thing we did years ago (5 years) was cancel our land line phone - it hardly ever rang anyway as most people called us on our cell phone. Also I quit getting my "nails" done (fake ones)...I treat myself occasionally with a manicure and pedicure. Eat home more often as others have said - think twice about driving anywhere, combine trips etc. etc. The problem though IMO is that it's a double edged sword - we certainly need to save (and not use credit so much), but the more all of us cut back, cut back, cut back....the longer it will take the enonomy to recover as the economic engine is fueled by spending etc.

We plan to do our part though with the economic stimulus $$$....we're buying a water softener for our new house!!!

One more thing before I sign off.....the media is creating a frenzy! We are not technically in a recession. A recession is defined by 6 full months of negative economic growth and we have NOT had that yet. Even if the economy grows by .1% that's an increase, not a decrease. Or, at least it was when I took math in school.