Finance Thread - Ideas to save money

[JPbowhunter]

I would not worry about paying my mortgage off too fast if it was a low rate 15 or 20 year fixed loan.
I would generally would never advise someone to get a 30 year loan and I hate variable rate loans.

30 year I’d standard here, I’m kicking myself for not fixing a few years back.

 

[rookhawk]

I just bought a new mower yesterday ! Here in Europe everyone does their own lawn or has a robot mower. Nobody would have somebody mow their lawn for them .......

In defense of Americans, we own continents and Europeans own a few blades of grass. Do Europeans always mow their own lawns if they have 1/5th to 1/2 a hectare of grass?

Gardens in the States belonging to the middle class tend to be a lot larger than those of middle class Europeans. Land is cheap relative to Europe because we have a lot less people and a lot more land.

Europe = 1.37 hectares per person. USA = 2.7 hectares per person.

 

[rookhawk]

30 year I’d standard here, I’m kicking myself for not fixing a few years back.

As long as you don’t have a pre-payment penalty (not allowed in USA) you can pay your 30 year mortgage every two weeks instead of every month and shorten the total term by a few years. Alternatively, if you can make double payments every month with the second earmarked all to principle, you can finish a 30 year mortgage in around 11 years. No refinance required.

We got a 15, saved every penny we could, and finished it off in about 18 months. But we went nuts because we just got sick of being in debt and would do anything to escape the weight of debt. Because of the sacrifice, I can retire in ten years, but we are pushing the envelope to see if I can do it in six years. TBD as luck and market timing are part of the hopeful, faster plan. That, and living off 30% of my income.

Suffer a tiny bit when you’re 20 or a tremendous amount when you’re 50!

 

[Needanother458]

Buy 2 freezers second hand or at auction.

Fill them both with your own beef, pork, veal, lamb and poultry or buy from a local farmer or rancher.

I have yet to see a whole or half beef sell for less that the grocery store here. It’s considered a premium and I’d save just buying uncut new york strip or ribeyes bulk from Costco. Kind of maddening really… I can get a premium hog butchered and wrapped all in for about $750 though.

 

[Whit]

As long as you don’t have a pre-payment penalty (not allowed in USA) you can pay your 30 year mortgage every two weeks instead of every month and shorten the total term by a few years. Alternatively, if you can make double payments every month with the second earmarked all to principle, you can finish a 30 year mortgage in around 11 years. No refinance required.

We got a 15, saved every penny we could, and finished it off in about 18 months. But we went nuts because we just got sick of being in debt and would do anything to escape the weight of debt. Because of the sacrifice, I can retire in ten years, but we are pushing the envelope to see if I can do it in six years. TBD as luck and market timing are part of the hopeful, faster plan. That, and living off 30% of my income.

Suffer a tiny bit when you’re 20 or a tremendous amount when you’re 50!

That is actually a really solid idea. I will check to see how this can be arranged with my lien holder... same payment, but half now, half later.

Not as concerned about crushing a 30 year on a duplex, as the tenant pays the bulk of the interest, and the profits / money otherwise against the mortgage can be saved to purchase another property and replicate the process once more.

 

[SStomcat]

That is actually a really solid idea. I will check to see how this can be arranged with my lien holder... same payment, but half now, half later.

Not as concerned about crushing a 30 year on a duplex, as the tenant pays the bulk of the interest, and the profits / money otherwise against the mortgage can be saved to purchase another property and replicate the process once more.

Yes, pay every two weeks, initially without a large down payment it may/will go towards interest. However slowly as you build equity you are making extra payments over the months or year and also paying towards principal 2 weeks early to bring interest down.

 

[Tanks]

Wait a week before buying anything over $$$$ amount. Has saved me many thousands of dollars over the years.

Another one could have been having less wives, but that ship has sailed I think..

 

[SStomcat]

Wait a week before buying anything over $$$$ amount. Has saved me many thousands of dollars over the years.

Another one could have been having less wives, but that ship has sailed I think..

Did you wait a week or two on your double Shikari with extra barrels and and how much did you save?
Doesnt work for me if I'm fixated on buying something..

 

[Tanks]

I waited over a year before I pulled the trigger as I had seen the prototype the year prior. So, was not an impulse buy. Originally I was going to get a Wesley Richards, but a 7 year wait at age 67 at the time was not something I wanted to go for.

 

[Sabre]

Wait a week before buying anything over $$$$ amount. Has saved me many thousands of dollars over the years.

Another one could have been having less wives, but that ship has sailed I think..

I also often wait a decent amount of time before making most purchases. Sometimes you need to act fast. But most the time you can add it to the cart and think on it for a few days or a few months. It's amazing how often you end up forgetting about it and not missing it.

It hasn't saved me from all my bad ideas, but it does help avoid some impulse purchases. And if 6 months later it's still eating at you to buy it, usually you still can.

 

[Tanks]

I have been eyeing this case by SKB as it is 18" wide and 6" deep internal measurements for multiple rifles. Will wait until I book my 2027 hunt and have custom fitted foam made for it.

 

[BTP-KennethWRoyce]

I have been eyeing this case by SKB as it is 18" wide and 6" deep internal measurements for multiple rifles. Will wait until I book my 2027 hunt and have custom fitted foam made for it.

View attachment 795773

Maybe use stiffer foam in such a case with 4 rifles. I wouldn't trust the open-cell eggcrate stuff.

 

[rookhawk]

I have been eyeing this case by SKB as it is 18" wide and 6" deep internal measurements for multiple rifles. Will wait until I book my 2027 hunt and have custom fitted foam made for it.

View attachment 795773

@Tanks if you like these style of cases, you should just buy a Pelican case of the dimensions that please you. In most major metro areas there are pelican dealers with the hard closed-cell foam blanks for their cases. They will custom cut the closed cell foam to precisely fit all your rifles and accessories. The service is reasonable, $100-$200 for the labor.

 

[Tanks]

Well, Pelican does not have a case that is 18” wide. I do have a couple of Pelican cases and make it fit. But two rifles is max. Add an extra barrel and a scope you run out of room.

 

[Green Chile]

By then you have maxed weight as well if not gone over.

 

[Tanks]

By then you have maxed weight as well if not gone over.

I have 33kg allowance, last trip with two rifles I was at 20kg

 

[Green Chile]

Ahh…I fly in lowly cattle car class. That extra weight allowance you have is nice. I can get 2 rifles scoped and just a bit more but not a lot more. We all get it sorted into a system eventually.

 

[DillonG]

We ended up selling our first house to rent at a dramatically reduced rate. We were very lucky in that regard. The proceeds along with additional funds were not put in a savings account. Everything was invested in a self custody account. Very simple investments and it will pay dividends over the course of time. We started an investment account for our first born before she could crawl and also started a ROTH for the same child. I’m happy with those choices, now we just wait and continue to live by a budget. The disposable income is split between 12 month needs and 10 year wants. Hunting trips will wait while the wife and I build up investments.

We did the Dave Ramsey exercise back in 2018 and haven’t held any debt, including vehicles since 2019. That decision has been the impactful, financial decision we have made.