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Honored Social Butterfly

Re: How do you make the most of your money?

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Message 41 of 55
@Pster wrote:

 

Right on. Exactly. Yes. Un-huh; word.

 

Shoot, sometimes asking for help is the fastest way to gain knowledge. Didn't Einstein say that he didn't know everything, but he did know where to find the answers? 


I remember going out with someone years ago, who was self-confident. One day I mentioned having to fix something, and he said he wasn't handy .. but knew all the best people to get work done right! But I knew people who aren't self-confident, and if you make a suggestion (like a shorter way to go), they take great offense that you might be implying they don't know what they're doing. They'd rather do things THEIR way & save face, than learn a better way.


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Honored Social Butterfly

Re: How do you make the most of your money?

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Message 42 of 55
 
"The key to success is to keep growing in all areas of life - mental, emotional, spiritual, as well as physical." Julius Erving
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Re: How do you make the most of your money?

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Message 43 of 55
I took it too and learned so much practical knowledge. Balancing a checkbook, doing a tax return, compound interest. How to add up long columns of numbers quickly. Just a few. It actually made me like math and I took algebra later on.
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Re: How do you make the most of your money?

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Message 44 of 55
Not true for many of us. I started saving in my 20's and could have easily retired at 50. I did not, as I would have been bored to tears.
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Re: How do you make the most of your money?

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Message 45 of 55
You are wearing that one out.
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Re: How do you make the most of your money?

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Message 46 of 55
You never know. People will tell you what they think you want to know and then change once the I do's have been said.
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Honored Social Butterfly

Re: How do you make the most of your money?

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Message 47 of 55

@s804940b wrote:
Not true for many of us. I started saving in my 20's and could have easily retired at 50. I did not, as I would have been bored to tears.

If you would have been "bored to tears" by early retirement, then you weren't focusing enough on building a network of friends, getting involved with volunteer & other organizations, or developing hobbies, WHILE you were working! I did retire at 50, and couldn't wait to start doing things with friends, for which I didn't have the time while working, as well as being able to take on leadership responsibility in organizations in which I was already involved.


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Re: How do you make the most of your money?

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Message 48 of 55
Don't judge unless you know someone. I have always had a network of friends and am involved with my community and church. I love to be of service to others in my paying job as well. I am glad your choices have worked out for you, but there are other satisfying ways to live.
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Periodic Contributor

Re: How do you make the most of your money?

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Message 49 of 55

Manage the money you have, your income and expenses. Always know what your net worth is, what your assets and what you owe.  Stay out of debt. Dont take more risk than you can handle. Use the internet to save and generate income. Maintain your health.

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Re: How do you make the most of your money?

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Message 50 of 55

Whenever we can, we make use of a credit card that offers cash back (varies from 5% to 1% depending on what is purchased). We also make use of the Members Club rewards program that offers cash back on items we frequently buy. This saves hundreds a year. Of course, we pay this card off in full each month.

 

We have cut back on all our extra spending - we use Netflix and basic cable instead of going out to the movies....except for free movies for adults AARP puts on from time to time. When the promotional offer of our cable package ends we will cut that out as well. Will likely only pay for internet service. No land line anymore. Just our cells and we use Consumer Cellular which has the least expensive plan I've ever seen. And they will upgrade your service plan only when you go over. Which you can then set back to a lower plan. No penalties. Ever.

 

We're diligent about keeping track of when special offers end by setting reminders in our phone calendars which sends us an alert when we are a week out so we can notify companies of any changes without incurring late fees or additional upcharges.

 

We buy groceries in bulk which saves us a lot in the long run. But on the other side of that coin, we don't waste food either. We freeze what we won't use in the next week. Freezing it in easily defrostable portions for one or two people.

 

We use coupons.

 

We stopped buying the latest fad...only buying what is needed. We typically do staycations instead of fancy trips. We make it a challenge to make a really nice afternoon out of something that is inexpensive. An afternoon of a home made picnic and a visit to the dog shelter to pet adoptees is a nice afternoon out for us.

 

We only buy what's on sale. Sometimes if you go late at night to the grocery store with a deli, they mark down the items in the deli when it has reached its shelf life limit they set.

 

We keep the car maintained so that repairs are not astronomical.  We only buy used instead of new. A car is not a status symbol for us - it is a means of transportation. Reliability is more important than a hood ornament. 

 

For a major purchase we check Consumer Reports first.

 

We do not impulse buy.

 

We have a water softener - which helps reduce our consumption of cleaning products and our last water heater lasted 31 years!

 

We buy sensible clothes when it is needed. Not just to have designer this and designer that.

We dress for comfort.

 

We check interest rates....we invest in a diversified portfolio....we keep an eye on our money by setting a budget and sticking to it. We use a spreadsheet to do this.

 

We free file our taxes.

 

All of these little things help.

 

 

 

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