Finance Thread - Ideas to save money

[Josh P]

If I didn’t hunt, I don’t know on what I’d spend real money on.

As to cellphones, StraightTalk through Wallyworld. I pay about $50/mo for unlimited data, an allotted amount of hotspot usage, zero contract, and some of the best coverage I could want.

My biggest purchase in a long, long time is the mill and lathe I have showing up soon. I put the word out with some locals who are far more connected and knowledgeable with these machines, and one of them recently reached out with an excellent deal. One of those, “if you don’t buy it, I will” kind of things. I try not to spend money on anything I don’t feel knowledgeable enough about to make wise decisions, and try to lean on those who are so I don’t get hosed on the refurbishing end of things.

When it comes to things like decoys, I hardly even look at new items, even if they’re on sale. All of my waterfowl decoy rigs, both duck and goose, are not only free, but have been profitable. When I started getting into it on my own, I bought the largest, least expensive lots I could get my hands on, and built myself a respectable set before sorting the rest out and selling them for enough to not only recover my costs, but make some extra.

I keep a list of the books I want and wait till they show up for a price I’m willing to pay. Instead of sleeping on the job, I dredge the auction and classifieds listings, sometimes like it IS my job. It helps keep a finger on the pulse of prices, and helps identify titles that aren’t in my wheelhouse but can turn a profit on eBay, etc.

We’ve been remodeling our home, and I’ve done almost all of the work myself except for some drywall mudding that was a choke point for a bunch of work. Doing the electrical myself will probably equal out to multiple tens of thousands in equity. Being able to do even simple projects will save large chunks, especially with the ratio of work to available skilled craftsmen in some places. The same principle applies to vehicle maintenance, oil changes and the like.

Somewhat tangential, but as we’ve gotten the main living space back to a usable hub of the home, I had been wanting to find an antique swan decoy for decoration. Recently I identified one which I thought had the desired look and was in excellent condition. Usually I get outbid, which is fine. Somehow I scored a fantastic stretched canvas swan decoy from a well known carver for less that it’ll probably cost to have it shipped. Before bidding, I looked into the name and realized the last one that sold at a waterfowl specific auction, the same style and virtually identical to mine, sold for $1,200. Why would I go to hobby lobby or even pottery barn for interior decor when I can be patient and turn the endeavor into a decent investment? I’m spending less than I would at those places and I’m getting framed pieces from collected artists, a fantastic piece of waterfowl history, one of kind items (like a very old bison skull cap), etc. that not only won’t be chucked in the burn barrel at some unknown point, but which will increase in value while they adorn our living room.

If it isn’t a consumable like food or toilet paper, I endeavor to spend as little as is reasonable for as high a quantity as possible and I try to buy things that have good potential to either be profitable in their use or to turn a profit when resold in the future. I don’t like buying things that decrease in value.

 

[RLD]

I went through a similar process recently.

My wife and I talked about what we really watched on TV or streamed etc and realized we almost never watched cable TV anymore, so we dumped that. I think the total savings on that was about $200 cdn a month.

I also let some subscriptions lapse on periodicals I could live without.

Making sure I go through all of my internet subscriptions monthly keeps me on top of those little leaks that can creep up on you if you ignore them. I put it in my calendar and do the monthly purge like a regular appointment.

All the best with your wise plan.

 

[SStomcat]

Installed a RO system many years back and cut down on bottled water. Kids still do but lot less.
Re negotiated my Home and Auto Insurance and saved around 2k. Bought another gun, but thats a different story
Paid off some high interest bills. CC interest is IMO obnoxious
Eat out once a month with family, instead of more frequently..


Alas, all this saving does not add up a I end up buying another rifle

 

[Brickman301]

Keep the 3 guns you actually use. Sell the rest and learn to shoot what I have.

That Absolutely crazy talk right there!
I hope you find the help you need.

 

[SETH RINGER]

Installed a RO system many years back and cut down on bottled water. Kids still do but lot less.
Re negotiated my Home and Auto Insurance and saved around 2k. Bought another gun, but thats a different story
Paid off some high interest bills. CC interest is IMO obnoxious
Eat out once a month with family, instead of more frequently..


Alas, all this saving does not add up a I end up buying another rifle

GROWING UP IN A TIME WHEN OUTSIDE YOU JUST DRANK OUT OF A WATERHOSE, I HAVE NEVER BEEN ABLE TO WRAP MY HEAD AROUND BUYING WATER BUT MY SON BUYS OUR GUYS BOTTLED WATER BY THE PALLET. WISH I HAD A BUCK FOR EVERY IGLOO I DUMPED A BAG OF ICE IN AND FILLED BY THE SPIGOT ON THE SIDE OF THE 7-11.

 

[HWL]

I think the biggest money we all probably should have saved is much less taxidermy on first safaris. I look back now and wish I hadn’t even shipped some home. Pictures would have been enenough.

I am completely with you.....
Never ever again, I will ship a tropy home.
Take nice pictures.... that's it.

HWL

 

[steve white]

Might as well address the elephants in the room....
1. spouse being on board is #1. An elderly lady once told me, "a woman can throw more out the back door than a man can bring in the front door, if she wants to." Woman spending is like getting nibbled to death by a duck. TOO many constant toys for the kids/grandkids, and I see minimum one new per week for GD. TOO many unnecessary luxuries from purses to shoes to jewelry. TOO much eating out. The only way forward is for HER to limit herself for a shared goal in travel or hunting as your partner, IMO. YOU trying to police it will probably get you no where. Then, when they are looking forward to what you both have agreed upon together, they limit the mani-pedi's, massages, hair threading, etc, etc.

Now for the men: we save on stuff, but when we spend it is much more likely to be on big ticket items, compared to our spouses. And we know it, but don't put a pencil to it. Yes, we have to limit ourselves or admit saving is not the priority we thought it was. Hard to convince mama if papa cheats.
Concerning financial cheating--well, that's none of my business when it comes to you hiding money, but I will say that there should be full disclosure of purchases, and preferently in advance as much as possible, not counting a new gun, of course...lol We seem to play this little game where we know it's bad, but not "how" bad and we guess on what we think the other spouse is doing and match it.
Both sexes should take stock of just how much is going out the back door on crap that won't matter even next week! This includes stuff that was a great deal but is honestly superfluous.

Credit cards. Can we be real? Yes, I pay mine off. Yes, I get airline miles. BUT...to get those miles I do spending with a card I would not at all do if I had to count out cash. You will buy a more expensive meal on a card than with cash...along with everything else.
When we are in control of these big three, we have stopped most of the leaks in the boat, iMO
If we really want to get serious, a Dave Ramsey type counseling might be well served.

Now, for some serious savings: remember all those slivers of soap that got too little to use--squish them all together in one bar.
Remember how you blew your nose with toilet paper and threw it in the trash can? Fish it out after it has dried and reuse it for toilet paper. Now, aren't you motivated to start saving?....

 

[BryceM]

My personal rules have evolved over time. I went from "have nothing, can afford nothing", to quite comfortable. We've been incredibly blessed an more than a little lucky. Building real wealth has everything to do with discipline and only a little to do with income.

At one point we were so buried in debt we couldn't see daylight if we looked straight up. With a bit of work and tenacity, we live now without debt of any kind. It's enormously liberating. My wife and I have a budget and we stick to it. If we want to do something fun, we just plan for it. We each have a monthly line item for personal "play money" but anything else we both have to agree on. Each month a set amount automatically goes into an auto fund and a vacation fund. When it's time for a new car, the cash is sitting there.

Big strategic moves like this move the needle way more than pinching pennies here and there. Once you start earning interest instead of paying interest, EVERYTHING changes.

As for taxidermy, I'm still playing the game, but I'm being more selective now.

 

[Tintin]

Phone plans have been mentioned a few times.

But the prices of mobile (cell) phones themselves!

The latest top of the line iPhone just announced here is almost AU$6,000 !!!

For a phone! That next year, marketers will attempt to convince us is 'obsolete'.

Of course many of us appreciate fine things - and we all place different value on different things.

But I reckon for many here, that money is a very nice rifle, or multiple excellent scopes, or a big chunk of a new Rigby, all of which will last generations. Or a decent hunt, the memories of which will last a lifetime (or until dementia gets you).

Even the cheapest new iPhone here is almost AU$1,000!

I've just seen a brand new entry level Samsung A19 5G, Amazon 'open box' price of about AU$200. I'd bet that still makes calls and handles text and most apps just fine.

Using the @rookhawk 10 yr S&P projection, the Samsung buyer willl earn $15k.

But over 10 years, some folks will buy 5 new phones. The repeat entry level Samsung buyers vs the top of line iPhone buyers will have earned an extra $53,000.

That's a tonne of African hunting memories, all made while carrying a mighty fine heirloom rifle.

 

[rookhawk]

Phone plans have been mentioned a few times.

But the prices of mobile (cell) phones themselves!

The latest top of the line iPhone just announced here is almost AU$6,000 !!!

For a phone! That next year, marketers will attempt to convince us is 'obsolete'.

Of course many of us appreciate fine things - and we all place different value on different things.

But I reckon for many here, that money is a very nice rifle, or multiple excellent scopes, or a big chunk of a new Rigby, all of which will last generations. Or a decent hunt, the memories of which will last a lifetime (or until dementia gets you).

Even the cheapest new iPhone here is almost AU$1,000!

I've just seen a brand new entry level Samsung A19 5G, Amazon 'open box' price of about AU$200. I'd bet that still makes calls and handles text and most apps just fine.

Using the @rookhawk 10 yr S&P projection, the Samnsung buyer willl earn $15k.

But over 10 years, some folks will buy 5 new phones. The repeat entry level Samnsung buyers vs the top of line iPhone buyers will have earned an extra $53,000.

That's a tonne of African hunting memories, all made while carrying a mighty fine heirloom rifle.

We buy 2 year old iphones on Amazon with a 30 day return policy and a condition/battery guarantee. Usually around $300. Best part is that we own our phones and can move to the lowest priced carrier rather than being trapped into a huge contract.

Ironically, sometimes our obsolete iphones are still worth $150-$200 in which case we sell them on FB marketplace. If they are worth less than that, I bring them to Africa and gift them to the PH/Scouts/Trackers/Rangers. Same for ipads, they need to check film in the bush so an antiquated ipad and a SD card dongle really helps them out.

 

[K-man]

I am amazed at the number of people lined up at the coffee shops every day to pay $7-$8 per cup or more. Even at 200 days per year that's over $1400 a year.

 

[SStomcat]

Installed a RO system many years back and cut down on bottled water. Kids still do but lot less.
Re negotiated my Home and Auto Insurance and saved around 2k. Bought another gun, but thats a different story
Paid off some high interest bills. CC interest is IMO obnoxious
Eat out once a month with family, instead of more frequently..


Alas, all this saving does not add up a I end up buying another rifle

Some more to do things -
Cut down watching classifieds and deals...I seldom do these days except what shows up in the home page
Cut down browsing GI/GB. and Visiting Basspro, Gordy's, Collectors etc etc....(WIP)

 

[SStomcat]

We buy 2 year old iphones on Amazon with a 30 day return policy and a condition/battery guarantee. Usually around $300. Best part is that we own our phones and can move to the lowest priced carrier rather than being trapped into a huge contract.

Ironically, sometimes our obsolete iphones are still worth $150-$200 in which case we sell them on FB marketplace. If they are worth less than that, I bring them to Africa and gift them to the PH/Scouts/Trackers/Rangers. Same for ipads, they need to check film in the bush so an antiquated ipad and a SD card dongle really helps them out.

Well I guess it depends, we are a family of 5 all on AT&T all on Iphones so difficult to switch, plus I have kept my no. for ever and would like to. I know I can port but then it comes with its own set of attachments.

 

[rookhawk]

Some more to do things -
Cut down watching classifieds and deals...I seldom do these days except what shows up in the home page
Cut down browsing GI/GB. and Visiting Basspro, Gordy's, Collectors etc etc....(WIP)

I've actually used the classifieds A LOT over the years. Other sites classifieds too. I always buy very nice guns at private party prices. Zero depreciation because of what and how I buy. If I don't think I'll be going on a hunt for a few years that calls for that particular type of firearm, I get all my money back to repurpose it to other endeavors, collecting interest or dividends until the capital is redeployed.

I do not buy virtually any disposable goods. No chinese knives/binos/scopes. Almost no mass-market guns. No disposable timepieces. etc.

I buy a lot of my clothing used but I'm a prima donna and I like luxury clothing brands. (barbour, le chemeau, filson, russell moccassin, willis & geiger, bruno magli, brooks brothers, etc) Whenever the clothing no longer suits me or is a bit used up, my wife sells the stuff on poshmark or the real real and we typically get 80% of our purchase price back. Again, redeploying the capital into more finer quality things we buy on eBay and elsewhere.

There was a time when we bought 12 pairs of Courteney Boots from a liquidator (seized/unpaid customs from a defunct dealer) for around $50 a pair. (women's/children's sizes) Every kid wore a pair, then passed it down to the next kid, then the next kid. Then the kids shined them up to pristine, put in new laces and insoles, and sold them online for triple what we paid new. 3 kids get free shoes, triple their money, buy new school and hunting clothes at the end of the journey. That's the power of buying quality items and a bit of thrift. On the other hand their nike, converse, and adidas shoes cost $100 and go in the trash in six months because they are absolute junk. Zero residual value when you buy junk.

 

[BTP-KennethWRoyce]

That savings put into the S&P 500 over the next ten years earned me $83,000, or one Tanzania safari, or one fully funded year in retirement, however we care to characterize it.

Thanks for your thread.

Your "over the next ten years earned me $83,000 " syntax confuses me.
You meant "will earn me" future tense, correct?

Are you actually putting those reduced monthly expense savings into investments?

Instead of the S&P, may I suggest bullion precious metals? We're in a somewhat of a dip; buy now.
I'd slightly prefer silver right today.
I forecast $6,000 gold and $90 silver a year from now.

 

[BTP-KennethWRoyce]

I am completely with you.....
Never ever again, I will ship a tropy home.
Take nice pictures.... that's it.

HWL

I've evolved to generally that myself.
Euro mounts (very occasionally) and flat skins. I'm probably done with shoulder mounts.

 

[JPbowhunter]

I’m lucky in a way, work provide me a car, fuel and a phone. Wife and I spend about $20/ month on streaming and live pretty frugally. Venison is our main red meat and we buy a little chicken and pork to complement it. I stopped doing taxidermy over a decade ago to collect euros - saves space and lots of money. Made an exception for a big hoggie a few years back but I doubt I’ll ever do another animal again.
I wear my clothes till they get holes in them and don’t do or buy anything too lavish for the most part.
I do own a Rigby, but I got it second hand for less than half the price of a new one. It cost less than what I could do a basic SA safari for and I use it to hunt year round and will continue to for the rest of my life.

Yet we still don’t have much money to rub together, my suggestion is don’t have 4 kids! With the cost of living those little things will eat out your bank account like white ants in an old home!

 

[Whit]

Ways to save:
-No wifi at home. (May not work for some -- but at a pinch, the phone's hotspot will do).
-Verizon's Visible for $30 a month. Unlimited data and the service has been very good.
-Buy used iPhones with warranty from Verizon's website.
-Whenever Walmart or whoever has meat, fish, coffee, etc, discounted, I buy in quantity, and freeze. Couple weeks back, the local Neighborhood Walmart had smoked salmon on super discount, so I bought 15 packs for $4 per.
-$50 Dockers. Cheaper clothes, and high quality jackets and shoes.
-Darn Tough socks. Pay $25 for high-quality comfy wool socks upfront, swap 'em out forever and ever.
-Buy used books.
-Decor was purchased via Facebook marketplace. Found a couple really well done European paintings for maybe $120.
-Riding a 2007 Yamaha V-Star motorcycle is just as much fun as a fancy Harley Davidson, and way less expensive.
-A twenty minutes' drive to a local gym whose owner lets us attend for free.

Just bought two high-quality pairs of Saddleback Leather Co's semi-dress boots, which should last years and years (and the corresponding shoe trees -- can't skimp on those), and plan to buy a black & brown pair of their Italian dress shoes, and never think about buying shoes again. My brother's Christmas present to me will be a custom pair of cowboy boots with the Munson shoe pattern (the most comfortable thing ever... detest anything else).

 

[rookhawk]

Thanks for your thread.

Your "over the next ten years earned me $83,000 " syntax confuses me.
You meant "will earn me" future tense, correct?

Are you actually putting those reduced monthly expense savings into investments?

Instead of the S&P, may I suggest bullion precious metals? We're in a somewhat of a dip; buy now.
I'd slightly prefer silver right today.
I forecast $6,000 gold and $90 silver a year from now.

You're correct, @BTP-KennethWRoyce forward price in ten years of that trivial amount invested in SPY or QQQ in ten years is worth $83,000.

As to precious metals, I own a LOT of digital precious metals at present. I'm slowly closing those positions and buying physical when the spot premium is minimal to nil for numismatic quality gold/silver/platinum.

My calculations are that I'm about 5% net-worth in physical metals, 50% real estate, 45% equities. It is going to take me another five years to rebalance to 5% metals, 70% equities, 25% real estate.

Metals are useful for private transactions. They are a useful hedge against inflation. Silver/Platinum have tremendous volatility but aren't buy-and-hold commodities. Their biggest limitation is the outrageous collectibles tax if you need to sell them all at once and receive the 1099 from a dealer.

What I'd REALLY like to invest in is silverware. Really, really good vintage sterling silverware I believe is going to go way up as a collectible. People are melting down incredibly rare, high quality flatware for below spot price. If I'm wrong, I own silver at spot. If I'm correct, we'll wake up in 20 years as a society and say "what the hell have we done? We destroyed works of art that can never be replaced". I like any investment where it has an intrinsic value and a potential for a collector value as a double-dip investment potential.

 

[sureshot375]

My close PH friend told me about a client couple who saved money for their safari by neutering their own cat rather than going to the vet. I’m told it involved a pillow case.