money saving tip

[pt21427831]

When I go to local dollar store,which is over 25 miles away, i purchase the scratch pads with the sponge included, so save on buying them seperate, then when i get home, i cut them in half, so that they will go last longer. And it means less trips to the store as well, so saving on gas also. I keep a spray bottle of peroxide under kitchen cabinet, so once  a day, i spray them, to clean, so they are germ free for next use. This is one of the many tips I've found helpful over the years.

[Anonymous]

1 comment (1/7/23 2pm EST) Hey @Tonster521 !

Saw your responses to @RonMesnard and decided I would ask you a couple of questions. NO pressure as usual to answer. 😉 Thanks!

1️⃣Is this a "wise" time to do investments of any kind or should we wait. 🤔 I am retired and don't see myself being able to "invest" but wondering.

2️⃣Not sure if this is an area you dabble in, do you see the Housing Market "stabilizing" this year? 🤔 I would like to "rent" in Florida, closer to my only child as I age. Will be 65 this September 2023.

Nicole 🙂

[Tonster521]

@Anonymous Thanks for your positive replies. I will answer your first question yes and no. For the folks that are still working, accumulating assets and are years (maybe 5 to 10) from retirement, the answer is clearly "yes". More importantly, they need to stick with their asset allocation strategy based on their individual plan for retirement and not try to time the market. For folks that are near or in retirement, the answer is "no". Principal protection should be "mission critical" inasmuch as investments that fluctuate in value (i.e., due to stock market correction, etc.) especially at that point in time may affect their income streams in retirement. There is no fun with losing money especially after one stops working and is no longer on the payroll. For folks that have secure retirement income streams providing adequate income, investing with a long term view is an appropriate strategy. Should they incur a loss after all is done, their retirement is not affected. Without knowing anyone's financial profile, I would advise all folks/readers to initially focus on building an emergency fund with an FDIC insured Bank or an NCUA insured Credit Union.

Second, I think mortgage interest rates may increase in 2023. If I am guessing correctly, the Housing Market should slow down. I do not know how that will affect rentals in Florida. Generally, Housing/Residential is more local than national. Perhaps touching base with Florida realtors that offer rentals may provide some info regarding location, costs and availability. Hope this helps.

[RobertB197178]

I think the best way to save money long-term is to invest it in the stock market. Having a broker handle the dealings reduces the risk to a minimum. I have found saving money by investing very helpful in the past. Even the small ideas suggested by otthers which does not take a look at the bigger picture posted by the members above look very helpful. I hope you go through them and also look at investment plans with proper knowlegde about the market.

[RonMesnard]

@RobertB197178, even though your suggestion is a good one it is not very timely.  We are at the end of the longest and biggest bull markets in US history.  It is unwise to put your wealth into the market at the end of a bull market.  The market has increased 300% since 2008.  The problem is, what goes up will go down.  I have been taking money out of the market for over a year to take profit.

The huge issue with investing in the market is you need to know how the market works or you are just gamboling with your money.  There is always a element of risk but the less you know the greater your risk. 

My advice is to wait until after the market crashes to put new money into the market.  I would only invest in a few index funds. Only use a broker who will buy a solid index funds.  You may be better off investing through your 401k.  The investments are usually concervitive but may make you more money than bonds when there is a bull market.  What you need now are safe investments if you are an AARP member.

[s804940b]

I agree Ron. The older you get, the less you can afford to wait out a long downturn in the market.

[l528536p]

 I have worked high end retail off and on during my career as a lobbyist, political consultant and fundraiser. After taking a much too early retirement to care for my mother, I started consigning my clothes, shoes and handbags. I made a lot of money. Now, if I shop- I go to a consignment shop first- where I usually find a great buy- on something that will last forever and be in style forever- because I’m not into trends. Assistance League Thrift Shops are also great for all sorts of finds! 

[punca1939]

I put my dishwashing sponge either in the dishwasher or the microwave (depending on the thickness of the sponge....1-2 minutes).

[Dar52]

I save quite a bit over a year's time by switching to single-ply bath tissue.  I think we all tend to pull off the same amount whether it's more than we need, or not.  I've found that the same amount of single ply does the job just as well as the double and a roll lasts me twice as long.  

[wilful]

I'm afraid that this is one thing I won't  skimp on.  I gotta have that 2 ply TP.  

Each to their own.

[s804940b]

Scott 1000 sheet rolls are single ply. Most stores have a store brand that matches up. It works just fine and lasts much longer than the 2 ply. Next time you shop, compare the square feet of your brand to Scott or the store brand of Scott. You are getting ripped off.

[amcoffiebean]

Where to start?  We have reaquainted ourselves with our library because we can order a book online and pick it up within a day or two and read for free.  We are fortunate our local branch is just a couple of miles away and on a route we drive often.

I coupon and sign up for rewards programs when it's a place I frequent.  I detest these things, but if you don't use them you are missing out on reduced prices.  But I also buy store brands that are quality and less expensive, many beat a coupon price.  I love Aldi's and Dollar Tree for certain items we like. Aldi's is trial and error for us. Good on lots of things, not so great on others. And we have a little room to stock, so I buy multiples on good sale items. Big ticket items we do our best to research well and wait for sales.

We like to cook, thankfully. We can usually do better than most restaurants taste-wise. We leave restaurants for a treat. And if you get familiar with your local VFW, Legion, Eagles etc a lot offer great food, with special weekend breakfasts and other meals at great prices.  Our Legion has wings every other Tues, and none better anywhere and quite a value. Most are open to the public for meals and most memberships at these Veterans clubs are literally dieing out.  They could use public support to survive.

We grow a few vegetables, the easy ones like peppers and tomatoes and we are expanding the list. I'm not sure it's cheaper sometimes, but the quality hands-down beats anything in the stores and even some farmer's markets (which we also frequent)

We are movie addicts so we pay for Netflix and stay home with popcorn.

I have more, but it would be too long a read.

[rockaria]

I enjoyed reading your post.  If you have more to add, don't worry about it being too long.  I would love to read it.

[amcoffiebean]

To add: Walmart Savings Catcher doesn't require using a smart phone, it's just easier and saves time scanning a receipt.

And a caveat about rewards charge cards that even the fine print leaves out:  Most charge card companies won't recognize the warehouse clubs gas pumps as "gas stations".  If you fill up at Sams, BJs etc you may not be getting your rewards points/rebates.  They also will not recognize the warehouse clubs as office suppy stores or even Walmart as a grocery store. Since most fine print calls the rewards "qualifying purchases" without listing those, you often have to contact the bank/card company and ask those specific questions directly to find out.

[amcoffiebean]

Thank you rockaria. Certainly will share some tips I've trained myself to use! And some take a little training until spending the time becomes 2nd nature.......and it will.  I also happen to get a buzz out of saving money, that helps. My family thinks I'm a bit nuts sometimes.

If you have a smart phone, I downloaded the Ibotta and Checkout51 apps. Though there are just a few products we would normally buy to receive rebates, there are enough that I've pocketed about $60 between both of them in about 8 months, and honestly I'm not too diligent, I forget I have those apps!   At first it's a bit time consuming until you get in the swing, now I figure I spend about 10 minutes a week with each app to pocket some cash.  There are other rewards apps too, but these worked the best for our shopping habits. Ibotta also rebates some restaurants and retail stores. Checkout51 not yet.

I also love Walmart Savings Catcher app because Walmart price matches their competition and scanning the QR code at the bottom of your Walmart receipt with your smart phone automatically searches other local stores for the lowest price and then matches it in the form of a rebate. Almost all the big name retail stores will price match now. When there is a really great sale at one store, I pretty well know now who price matches and I head to that competitor instead. That way I avoid mad crowds and also low or depleted inventory in the advertising store. I also watch my favorite store ads the following weeks because some, like Target (for 14 days) will honor their own new lower sale price after you make a purchase. You dont even have to return the item, just take in your receipt within 14 days.   Just go to your favorite store websites and search for their price match policy and also search for their price adjustment policy.  

You will really appreciate remembering the price matching around Christmas when a good sale fills a store parking lot the minute a sale flyer comes out.  Just leisurely cruise down the street to the competiton who offers price matching.

Of course I frequent my favorite retail stores on Sr. Citizens Day for anywhere from 10-20% discount on your purchases. We are in FL so almost every store and restaurant has a Sr. Citizens days.  And of course we always ask if AARP membership offers discounts anywhere we go, too.

And after having 1, and the only, charge card for 30 years, I broke down and researched the rewards/rebate charge cards paying the best (not necessarily the highest) cash rebates and use it everywhere, even for groceries. We obtained a card that is not restricted to just rebates on gas and groceries or travel, but on everything......just because it suits our lifestyle the best. The rebates on those cards accumulate fast but you must be disciplined and pay your card bill off monthly to make it work for you.

I happen to fly a regular route on the same discount airline, Allegiant, about every 60 days and found out quite by accident that you can save considerable money if you can buy tickets for your next flight at the ticket counter as you are departing, instead of online from home.  When you purchase tickets online there are all kinds of state and interstate taxes that are levied onto your plane tickets.  When you purchase the tickets at the airport airline ticket counter, those fees disappear.  I've saved anywhere from $25 to $50 on each round trip tickets doing this.  I've only tried this with Allegiant, so I cannot speak for other airlines, you'd just have to ask, and it may vary state to state. But I've been doing this for 3 years and saved tons of money on tickets over those years. And be kind to fellow travelers: I have my flight dates and my seat selection all selected so it goes fast. The ticket agent can quickly take all your information they need off the computer while it is up for your departing and current flight.  I takes about 5-10 minutes to buy a ticket at the counter.

Hope some of you can add to my list!! 

[k306947w]

Instead of doing laundry every week do it every 10 days. 3 more shirts socks and underwear won't significantly increase the size of your loads. Set reminders for the 1st, 11th & 21st. So at least 12 washings a year less. That's lots of water, gas/electric to heat the water and a reduction in energy use to power the washer and dryer. Also hang dry as much as you can. The dryer is the wrorst energy waster in the home. You'll save time and cut down your carbon foot print significantly 

[s804940b]

We use a dryer deflector in the cold months here. It redirects the hot air back in to the house. The kit cost $7.00 at Ace Hardware.

[RonMesnard]

It will also add some mosture to your air.

[s804940b]

It does and since we use a wood stove, we also set a tea kettle on top.

[billham68]

I'm surprised that no one has mentioned the wide availability of senior discounts--a great way to save money. I always ask at the customer service desk if a senior discount is available. Oftentimes I'm pleasantly pleased when they say yes. A new barber shop opened up nearby that offers senior discounts for haircuts every day of the week, plus with a little effort I can find coupons that beat the senior discount. Instead of spending $18 + tip I now pay as little as $9.95 + tip (I'm not a cheapskate so I base my tip on the regular senior price). Discounts at my automobile service center, local movie theater, and several nearby restaurants have also saved me a fair amount. Saving money when shopping is possible almost on every outing just by asking--with a smile of course.

[njbjrb]

Hello.. good idea, but my way is free!!! Yes free, at the end or beginning of each day I microwave my sponges, this kills all unwanted germs .Just make sure they are a little damp before microwaving. I put mine in for one minute. Wait to take out or be careful  as they are hot for a few.

[s804940b]

Good idea, but are we here to argue over cleaning counter tops?

[rockaria]

My advice:  Don't let down-on-their-luck relaties "temporarily" move in with you.  She's still here, over a year later, and I can no longer afford my rent & utilities.  We're going to both be homeless soon!

[s804940b]

You must be giving her money if it is causing you not to be able to pay your bills. Stop giving her money. If you have given a roof over her head, that is generous enough. The rest is up to her to include food.

[s804940b]

So sorry. You really should ask that person to leave.

[p550363w]

The stock markets currently have a great deal deal of emotional up swings for Investors. Yes, the second half of 2016  wasn't as productive as Q1 & Q2, however, GDP was up 3% and unemployment down under 5% close to full employment. Currently,  the Dow Jones, S&P 500 and NASDAQ are setting records. What goes up can come down too. I'm see silver a better investment than gold and high yields are paying great dividends of return for risk takers. Treasury bills are fairing well. I'm not big on the bonds.

Google new partnership with INTEL on driveless vehicles by 2026 their estimated revenue is $96 billion dollars. UCLA is going to have an injection drug from their cancer research department soon. So, please be awre to take your emotions out of your asset allocation portfolio and do your own diligence before buying or selling stocks in your portfolio. 

[RonMesnard]

Hopefully you are more savvy than you sound.  Low interest CDs and bonds may not be a good investment if their rate is less than inflation.  The only 'safe place' for your money is in the market. Note the quotes.  The market is not very safe right now.  Unless the market has been your hobby for the last few decades you are best having a broker making all your decisions.  Your decision is finding the best broker or better portfolio manager you can.  To do that, you need to know your stuff.  I listen to talk radio investment shows weekly.  After a few decades it sinks in.

The best investor companies use programs to analyse how the stock market is changing.  They can predict about when a crash is likely.  As long as they beat the crash by a day they have done their job.  Right now we are in the biggest bubble since 1930.  If you don't have an ace stearing your ship maybe now is a good time to bail.  The problem is in a bubble you can make more in a month than you normally do in a year.  That is why having the best will allow you to make a maximum profit.  Another option is to purchase a defensive stock like ATT.  Its value is detrumined by a combination between the DOW and interest rates.  If the DOW crashes these will be the least effected and that is why they are defensive.  These high dividend stocks produce dividends up to 5%. They have better yeilds than bonds in these low interest times. The higher the yeild the more it follows the interest rates and the less it follows the DOW.

Anyone over 50 ought to spend some serious time educating yourself to finances weekly.  Last year I did between double and quaddruple what my friends did.  If you do that from 50 to 80 you will have a pleasent retirement.  Too many of my friends will be in terrible finances. It is common to be in sub-poverty after you retire.  I don't want to live like that so I have made time protect my investments.  Then you don't need to worry about saving a dollar.

[s804940b]

Funny, but I always disliked the stock market. I out saved and used only CD's. When rates were at their lowest, I just ramped up the savings even more. I am figuring that I saved enough for one year of retirement for one year of work and I made a low to low average income. The peak of CD's is what helped me and laddering them helped as well. Now they are going back up. Nothing impressive, but 3% is what I average and on the amount I have saved I can live on it. Social Security is a just a bonus.

[RonMesnard]

@s804940b,

3% doesn’t keep up with inflation and the devaluation of the dollar. The DOW tripled in the last decade. I have more assets than my wildest dreams. I did much better than the DOW.  I pay a good deal of money for an ace to manage my investments.   I am slowly selling off stocks (profits) into cash. Even if my stocks bomb, I have large amount of cash. More than double what I would have if I had only made 3%.

It is wise not to rely on SS. Too many boomers are retiring to fund SS and Medicare. When I was 50 there were 5 workers to support 1 SS. In 2030 it will only be 2 workers; the system will collapse!  Too many of us rely on SS for most of their retirement income.  There will be wide spread misery when that happens.

I tip my hat to another saver!

[s804940b]

Ron-I do agree with what you have said, however, I did it my way and it has worked out very well for me.  I could have retired at 50 and SS is nice, but I do know that it is fragile and I did not depend on it.  For the sake of those who do, I hope they will find ways to make it stronger.  I am glad your plans worked out for you, but I am more than satisfied with my results.