Saving money.

[Dave Gray]

I have some life changes coming.

The wife needs a new car.
I need to start saving for my baby's college.

So, I'm reviewing my finances and making a family budget, which we really haven't done yet.

I see a lot of little things that I pay for that might not be a big deal on their own, but they add up.

Here are some things I've already done:
- cancelled Netflix - My parents live across the street, so I can use their account.  (Savings - $10/month)
- changed phone plan - I did this a while ago.  I looked at what I was spending on minutes and I wasn't coming anywhere close. 
- changed cable/internet plan - I had to reduce my Internet speed, but since I don't work out of the house very much, I think that this is acceptable. (Will save me $40/month for 12 months.  I have set a reminder to review in a year.)

I'm planning on:
- buying a modem (it will be an upfront fee, but I've been paying $7/month forever, which comes out to $84 a year.)  I can get a really good modem for that same amount that will be mine and work for many years, theoretically.

I'm still thinking about:
- buying a TiVo branded DVR.  Like the modem, I'm paying $17 (x 2 boxes) to record TV.  On top of that, I have the shit out of Comcast's software.  I'd love to change and be able to have multiple boxes that share data, for example.  $34 a month to rent boxes is pretty steep.  I'm not very saavy in this area of tech, though, so I have to do my research.  I don't even know if this is possible or if Comcast has some kind of proprietary thing going on.

I'm also going to do things like:
- pack my lunch more, instead of ordering out for lunch.
- put a bottle in the back of my toilets to reduce water use with each flush

Any other suggestions to cut down spending?

[Spider-Dan]

Here are some things I've already done:
- cancelled Netflix - My parents live across the street, so I can use their account.  (Savings - $10/month)

Doing this is exactly the same thing as if you walked into Best Buy, shoved a DVD in your pants, and walked out.

True story.

- changed cable/internet plan - I had to reduce my Internet speed, but since I don't work out of the house very much, I think that this is acceptable. (Will save me $40/month for 12 months.  I have set a reminder to review in a year.)

Why the reminder?  I'm curious.

I'm planning on:
- buying a modem (it will be an upfront fee, but I've been paying $7/month forever, which comes out to $84 a year.)  I can get a really good modem for that same amount that will be mine and work for many years, theoretically.

Best Buy carries quite a few integrated router+cable/DSL modems.  You should be able to pick one up for $50-75.  (Or, since you are already clearly on board with stealing, you can shove one in your pants and walk out.)

I'd also suggest checking the eBay and List of Craig.

I'm still thinking about:
- buying a TiVo branded DVR.

Do the TiVo-branded boxes work with digital cable?  I would have figured that Comcast and AT&T would have devised some excuse to cut them out of the loop by now.

I haven't had cable television service since 2008, but I have a fairly extensive media playback and storage system; I have a 7TB file server and 4 media players (2 HD, 2 SD).  (I'm also not married, so I don't have a wife's viewing habits to deal with.)  I have saved a great deal on cable TV costs, as I download all the stuff I watch for $25 per 180GB.  However, your eyepatch-wearing mileage may vary.

I will say that if you have HDTVs in your home, you may want to pick up an HD antenna and see which stations you receive.  I receive about 30 HD channels (in NorCal) and can watch all the major networks in perfect HD.

I'm also going to do things like:
- pack my lunch more, instead of ordering out for lunch.
- put a bottle in the back of my toilets to reduce water use with each flush

I tried the water bottle thing, but it didn't work too well for me.  Instead, I purchased an adjustable toilet flapper (which I needed because my flapper was leaking anyway).

I'd really like to cut back on my spending as well, but I have a tough time thinking of places to cut back... and that's just for me.  I can't imagine trying to make those kind of changes for two people.

[Dave Gray]

Why the reminder?  I'm curious.

Everything my cable company offers is a limited offer, then it bumps to an outrageous rate.  They probably make a ton of money from people who just let their deals expire and pay whatever it is.  So, my deal is valid for 12 months and then it increases.  I have to remember to re-contact them to get whatever new deal they have going.

Do the TiVo-branded boxes work with digital cable?  I would have figured that Comcast and AT&T would have devised some excuse to cut them out of the loop by now.

Tivo boxes do have digital versions.  As for Comcast, I've read that though they might tell you that it won't work, people claim it will.  I don't know if it makes sense, though, since Tivo is the price of the box + a subscription fee.  And I don't know how to make that work over 2 TVs.  It might be more trouble than it's worth.

In regards to your suggestions about cutting cable out all together, it's just not in the cards for me.  Firstly, I enjoy watching TV, including Redzone, cable news, etc.  More importantly, my wife's viewing habits just don't work with the downloadable space.  It's not worth the change.  We both use it.

I tried the water bottle thing, but it didn't work too well for me.

How so?  I did it in a previous place.  I didn't check the bill, but I noticed no difference in toilet quality.

I'd really like to cut back on my spending as well, but I have a tough time thinking of places to cut back... and that's just for me.  I can't imagine trying to make those kind of changes for two people.

I think the biggest thing is just being aware of what you're spending your money on.  Budgeting has really helped me see where it goes.  And food.  A ton of money is used on food and eating out due only to convenience and not because I really want it.

[dolphins4life]

I put at least $70 of each of my proctoring pay stubs into my savings account.

Also, save your change in a jar.  Wrap up it when you get enough and take it to the bank.

Don't buy bottled water.

Don't buy lunch at work.

[SCFinfan]

Suggestion 1: if you rent, move to a cheaper place. If the moved-to place is farther away from where you (but you work at home mostly, yes?) or your wife work, then, the savings would = [amt of rent saved - amount of extra gas].

Suggestion 2: if you own, refinance. There are a number of programs in place, like HARP (http://www.makinghomeaffordable.gov/programs/lower-rates/Pages/harp.aspx), which could aid you through.

Suggestion 3: if you own and can't/don't want to refinance, talk to an experienced attorney in your area about "strategic default," which means allowing a bank to foreclose on you, while taking every precaution imaginable so that your liquid assets (and other assets) are not negatively affected. You'll take a huge hit on your credit, but, you'd be able to move out of your home w/o paying off your mortgage.

Suggestion 4: your wife should, if she can, carpool.

Suggestion 5: Wells Fargo way-to-save account, puts a dollar in your account every time you use your debit card, and gets good interest on the first 500$.

Suggestion 6: pay off a lump sum of debt unsecured debt. If you do this, you may hurt in the short-term, but, certain payments you have will disappear, and thus you won't be throwing money down the black hole of "interest payments."

[Brian Fein]

Dave, I've been doing some of this as well.  I already did the buy-your-own-modem thing, got the exact same one we were leasing from Comcast for $7 a month for $50 off Amazon, and never looked back.  

Tivo with digital cable sucks monkey balls.  My mom has 2 Tivos and they are sketchy but working.  You can't record on both tuners or record on one and watch another, if both channels are above channel 26.  Thanks, Comcast.  Plus hooking them up is a puzzle of wires and you need to have chintzy IR emitters to actually change the cable box channel for you.  Besides, you'll need a digital cable converter box ($9 from Comcast) and the Tivo charges $13 a month, so keeping the Comcast DVR is the practical and cheaper solution, IMO.  Now, if Tivo has come out with a digital dual-tuner box I don't know about, this all goes away, but you still have an up-front $200-$300 and a $13 a month payment.  You'd probably be better off cancelling the HD package than swapping the DVR's.  Or perhaps cutting the premium pay channels and all the PPV porn you order.

In line with what D4L said - if you bring lunch to work every day instead of buying lunch (especially so for leftovers) you save a crapload of money.  Paying damn near $10 a day for lunch every day is a great way to go broke fast.

[Buddhagirl]

I'm the budgeting queen. It's one of my favorite pastimes. I'd suggest getting something like Quicken. When you start seeing exactly where every penny is going it's easy to see where the leaks are.

Also, be sure to automate your savings before your regular spending. If you want to put say, 15% in savings each paycheck have that set up and ready to distribute to each account before you even get to touch it.

I eat lunch at home everyday since my office is a mile from my house. I don't pay for cable (my landlord does). I sometimes run/bike to work.

A big one for me that I still struggle with - Only getting groceries and stuff once a week. I always forget something and need to run to the store for that specific item. Say, toothpaste. Well, when I'm getting the toothpaste I come out with a whole bunch of other stuff I "need". Now, I try to do all my shopping on Saturday or Sunday.

Along that same line, I try to have at least 3 "No Spend" days a week. Days where I buy nothing. It makes me plan better and make do with what I've got. Do I really need to run to the store to buy conditioner? Can't I use one of the 10 other conditioners I have until it's shopping day?

A fun place to track your NetWorth: www.networthiq.com I LOVE seeing my numbers get higher. It's like a game.

One more thing - Be sure to give yourself an allowance. Money that you can spend on whatever you want. It keeps you from just going crazy. Even if it's just $20 for movies.

[dolphins4life]

^^^^

I look at it as a game too.  I like watching the money in my savings account grow.     

[bsfins]

Everything my cable company offers is a limited offer, then it bumps to an outrageous rate.  They probably make a ton of money from people who just let their deals expire and pay whatever it is.  So, my deal is valid for 12 months and then it increases.  I have to remember to re-contact them to get whatever new deal they have going.

Sorry more of a comment here....than any suggestion..I've wanted to do this for awhile now.Unfortunately for me,my choices are a little more limited.I have At&t,or Mediacom cable company.(I guess hughes net is an option,but just not a good one).We have smaller companies in the area,but they don't come in town.

With At&t I have no modem charge,but slow speed for the price (3 MB down for about $35),They have an introductory rate of $19.95 for 6MB down for a year.Unfortunately for me already being a customer, I have to add another service like U-verse T.V. or cell service to take advantage of this rate...Right now I have like a 150GB a month cap (U-verse I think has 200gb or 250Gb cap)

Mediacom,I can get an introductory rate of $19.95 a month + I think there is a modem fee,plus all the franchise fees and taxes.for 12gb down.The kicker is it's a two year agreement,so I have to have their regular (outrageous) rate for atleast a year...

I feel so fucked....

Sometimes it seems like I get lucky,and don't change my packages too often,so I get grandfathered in...My cell phone,and directTv are both that way..


Modified to add something to the discussion...
Coupons...

Also I shop alot of Wal-mart,Aldi,Dollar General,and Big lots for my regular stuff I buy on a regular basis...
I also use www.sundaysaver.com to price check who's got what on sale...

Like Buddha I usually shop on the weekends,and find a little planning,1 trip out saves me more money.(over running to the store 2-3 times a week) I COOK a ton,rarely eat out anymore...

[Brians Stalker]

I took a freezer cooking class yesterday, and I anticipate that will save us quite a bit of money.  We go grocery shopping usually on Sunday mornings and have found that if we don't have a list, we buy way more than we can eat before it goes bad and we have to throw a lot out.  We have also found that if we come home late from work tired and without a game plan for supper that we eat out.
 
This class showed us how to prepare foods and put them in the freezer in various stages of preparation so that they can be pulled out and made quickly by either tossing them in a crock pot or the oven.  We made breakfast burritos, southwest chicken wraps, energy bites, marinated chicken breasts, steak pizziola, lasagna and the people who had kids made baby food.  The lasagna was a full meal, but the wraps and burritos were individually wrapped before freezing which is perfect in our house.  I am really looking forward to seeing what we can do with this.

[dolphins4life]

Dave, I've been doing some of this as well.  I already did the buy-your-own-modem thing, got the exact same one we were leasing from Comcast for $7 a month for $50 off Amazon, and never looked back.  

Tivo with digital cable sucks monkey balls.  My mom has 2 Tivos and they are sketchy but working.  You can't record on both tuners or record on one and watch another, if both channels are above channel 26.  Thanks, Comcast.  Plus hooking them up is a puzzle of wires and you need to have chintzy IR emitters to actually change the cable box channel for you.  Besides, you'll need a digital cable converter box ($9 from Comcast) and the Tivo charges $13 a month, so keeping the Comcast DVR is the practical and cheaper solution, IMO.  Now, if Tivo has come out with a digital dual-tuner box I don't know about, this all goes away, but you still have an up-front $200-$300 and a $13 a month payment.  You'd probably be better off cancelling the HD package than swapping the DVR's.  Or perhaps cutting the premium pay channels and all the PPV porn you order.

In line with what D4L said - if you bring lunch to work every day instead of buying lunch (especially so for leftovers) you save a crapload of money.  Paying damn near $10 a day for lunch every day is a great way to go broke fast.

I usually skip lunch when I work.  My dad for years would bring homemade sandwiches to work for lunch.  That's how he saved enough to put both me and my two brothers through college.  He taught me a lot about saving money.

I don't have a credit card.  A lady I was talking to at the bank a few weeks ago suggested I get one.  I told her I didn't need one.  "My father told me, if you can't afford to buy something, don't buy it", I told her.       

[masterfins]

When I had to cut back a couple years ago, do to some life changes, I cut out buying coffee "outside" and made coffee at home.  Much cheaper to make a whole pot at home, and throw away the leftover, versus buying a $2 cup at the convenience store.  The other thing is that I became more aware of my grocery purchases.  Started using a few coupons, stocked up on things when they were on sale, etc.  I have a second fridge/freezer, so I would freeze alot of things like meats and bread that I would buy on sale, or in bulk at lower unit prices.  Currently I'm thinking of just discontinuing my landline phone as I'm rarely home to use it, or switch to a stripped down plan.

[Spider-Dan]

I don't have a credit card.  A lady I was talking to at the bank a few weeks ago suggested I get one.  I told her I didn't need one.  "My father told me, if you can't afford to buy something, don't buy it", I told her.

Credit cards are not necessarily for people who "can't afford to buy something."  You can make all your monthly purchases on a credit card, pay off your monthly balance in full each month (thereby paying no interest), and earn free reward points which you can redeem in the form of merchandise, or just money; my current card gives me $1-5 cash back for every $100 I spend.

Additionally, from a credit rating perspective, there are two factors which are influenced by credit cards:

1) the length of your oldest currently open revolving (credit card) account
2) your debt-to-credit ratio (i.e. the amount of credit that you are using vs. the amount you have available)

If you have no credit card, both of these factors will be negatively impacted.  You are better off having a credit card and not using it (thereby proving that you can restrain yourself from using up available credit) than not getting one.

Of course, if you are one of the hardcore "no credit" people who is willing to buy cars and houses with straight cash, credit rating may not be a concern.  But for the majority of Americans, your credit rating is an important factor.

[dolphins4life]

Credit cards are not necessarily for people who "can't afford to buy something."  You can make all your monthly purchases on a credit card, pay off your monthly balance in full each month (thereby paying no interest), and earn free reward points which you can redeem in the form of merchandise, or just money; my current card gives me $1-5 cash back for every $100 I spend.

Additionally, from a credit rating perspective, there are two factors which are influenced by credit cards:

1) the length of your oldest currently open revolving (credit card) account
2) your debt-to-credit ratio (i.e. the amount of credit that you are using vs. the amount you have available)

If you have no credit card, both of these factors will be negatively impacted.  You are better off having a credit card and not using it (thereby proving that you can restrain yourself from using up available credit) than not getting one.

Of course, if you are one of the hardcore "no credit" people who is willing to buy cars and houses with straight cash, credit rating may not be a concern.  But for the majority of Americans, your credit rating is an important factor.

Cash back?  Now that might be something to look into. 

I have already decided I will never buy a house.  I don't want any kids, so it would not be worth having a house.

I don't see anything that I will need to buy in the future that will require me to have a credit card, but if I get cash back it might be worth getting one.     

[fyo]

Doing this is exactly the same thing as if you walked into Best Buy, shoved a DVD in your pants, and walked out.

True story.

True story? No, it's a LIE.

Sharing your Netflix password with someone is NOT theft.

Is it against Netflix ToS? Maybe. Their FAQ used to expressly allow sharing, but without a valid login, I can't verify that this is still the case. The ToS does address it indirectly, however:

"If you disclose your password to anyone or share your account and/or devices with other people, you take full responsibility for their actions."

Other language speaks to the confidentiality of the account etc, but interpreting those to mean "no sharing with your neighbor" would imply that using the same account for a single household would also be against the terms of use.

If it were against the ToS, is it illegal? Maybe (particularly if you live in Tennessee), but it doesn't generally seem to be the case. In fact, Blizzard at one point confirmed that sharing WoW accounts wasn't illegal (in that no federal or state laws made it so), but that it WAS against the ToS and would result in termination (but, of course, no law suit or visit from your local authorities).

Even if it WERE universally illegal (which is isn't), it would NOT be theft. There are many different illegal activities in this world with theft being just one.

Sneaking into a movie theater, while illegal, is not theft (even though I get to see the movie without paying for it). Stealing a ticket IS theft. Making my own ticket at home is also illegal, but still not theft. All of these actions have the same end result -- getting to see a movie in a theater without paying for it -- but they are very different crimes.