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Ways to save money that you know.

#102
1) Take the bus. Ride a bike.

2) Eat fruit instead of candy/cookies etc.

3) Change the air filter in your ride. Get a tune-up. Saves on gas.

4) Keep your tires properly inflated.

5) Buy a whole chicken and cut it up.

6)Wear warm clothes instead of turning on heating system.

7) Take off all the extra features on your land line.

8) Cut down the minutes on your cell phone. Use cell phone less.

9) Shower every other day.

10)Water the yard once a week.

11) Sweep the driveway instead of washing it down.

12) Buy only fresh food. The less processed the food, the cheaper it is.

13 Eat less.
 
#103
Using my bike, bringing a water bottle and filling up with as I go. Buy used as much as possible when reasonable, no used underwear, electronics that wear with age. Keep my hair long. Using Flatwound bass strings. Sharing what I have and moving it around, one person has power tools, no need to buy another, I have a slow cooker, no need for a buddy to get. Grow as much of your own food as you can, learn to recycle containers.
 
#104
Bassic83 said:
I think you're thinking "Simple -Interest Loan", which is common for "we-tote-the-note" used car lots. The scourge of simple-interest real-estate loans has not hit the market yet, though nothing would really surprise me at this point, considering the world's economy and the greed of banks.
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yes...you are right....as i was replying to a post mainly dealing with car loans and not mortgage loans.....wouldn't surprise me if that type of loan doesn't creep into the market in the near future
 
#110
Bassic83 said:
First step is to restucture the loan into a 15-year, or, if you can find a lender, a 10-year. Look at the bottom line, you'll be shacked at how little difference there is in payments vs. interest you end up paying. It's all about compounding! :)
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But you said you could do it for the same money, I understand how increasing how much you pay reduces the time but that's not what I quoted.

Going weekly could possibly save you 50% of your total interest or more. Not too shabby, and you haven't spent a dime more than that monthly grand you were going to be stuck with for 30 years, except now you pay off your house in 6-7 years!
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For that to work the interest must be at least 4 times the principal in the 30 year loan, that's why I said to check your math ;) 6 years is one fifth of 30 years, interest is not that high.
 
#111
Stumbo said:
12) Buy only fresh food. The less processed the food, the cheaper it is.
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I disagree... many of the highly processed foods are also very cheap because they have such a long shelf life do to the extra chemicals... McDonald's dollar menu is cheap as hell but super-processed.
 
#113
Question - do I have to call my bank to get on the weekly, or bi-weekly payment plan, or just start sending those amounts electronically? Huntington sucks in the regard that they charge me $5 every time for paying by check electronically. Sounds like I need to have a talk with them. I am only 7 months in on a 30 year mortgage, but would like to have it paid off in 10 max.....which is harder to do by the day thanks to an economy in the tank.

Bassic83 said:
On the house note thing- I pay bi-weekly, and I added a little more on top of it. Say you have a payment of 1000. Instead of paying it once a month on a 30-year note, see if you can get into a 15-year note, with bi-weekly payments. Then, your payment should drop a little. So, we'll say 465 every two weeks. Add on the 35 extra, that's an extra 70 a month. Apply that to principal, and see your final house note in around 8 years.

I wish there were more places that would agree to weekly payments. Take that 465 every two, divide in half, and you get 232.50. Knock it up to 250, and that's an extra 17.50 a week, or 70 a month, for an extra 140 off your principal each month. Over the course of a year, you've put an additional 140x 12 months, plus two whole payments of 1000, for a grand total of 3680 in principal. Remember that interest is constantly declining as the principal balance decreases, and you save thousands of dollars, sometimes tens of thousands, over the lifetime of your mortgage. Going weekly could possibly save you 50% of your total interest or more. Not too shabby, and you haven't spent a dime more than that monthly grand you were going to be stuck with for 30 years, except now you pay off your house in 6-7 years! :hyper:


Edit: Incidentally, that method works for car notes as well- I've been overpaying on my truck note for 8 months, and recently lost some income from Ike. Since I had a spotless (over)payment record, my truck note was able to be put off for a month, giving us the extra little cushion that we needed, and I'm STILL up by two payments!


The mortgage company would not work with us to move ONE payment to the end of the loan, so I am going to cheat them out of interest money by accelerating my mortgage payments on them, and I'll also try to go weekly for even more gain. That one payment that they refused to work with us on, and earn interest on, will cost them dearly now. Revenge can be sweet, especially when you use their own rules against them!
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#114
BobXboB said:
It's more expensive than the food ingredients that go into it. The processing only ads cost, it doesn't make the food cheaper.
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But the shelf life gets extended, so they don't have to worry about expiration dates so they save money that way... Twinkies are full of chemicals but they never go bad.
 
#115
BobXboB said:
But you said you could do it for the same money, I understand how increasing how much you pay reduces the time but that's not what I quoted.



For that to work the interest must be at least 4 times the principal in the 30 year loan, that's why I said to check your math ;) 6 years is one fifth of 30 years, interest is not that high.
Click to expand...


that calc is not right.......it's compound interest, not absolute.
 
#116
Armueller2001 said:
I disagree... many of the highly processed foods are also very cheap because they have such a long shelf life do to the extra chemicals... McDonald's dollar menu is cheap as hell but super-processed.
Click to expand...

Bush_doing_it_wrong.gif
 
#117
Tim Cole said:
Question - do I have to call my bank to get on the weekly, or bi-weekly payment plan, or just start sending those amounts electronically? Huntington sucks in the regard that they charge me $5 every time for paying by check electronically. Sounds like I need to have a talk with them. I am only 7 months in on a 30 year mortgage, but would like to have it paid off in 10 max.....which is harder to do by the day thanks to an economy in the tank.
Click to expand...


there's a lot of factors that play into how you handle this

but what i have found is that, if you stay at your current rate (given a 4-6 % rate) it is better to not refinance, and to pay off at least 100 dollars more a month, plus make an additional 2 complete payments per year. this doeas two things

first....every month the additional 100 dollars goes directly against principle which is what your loan is recalculated against every month....thus shortening the lifespan of the loan...and decreasing the amount of interest


second....just about everyone that has a job that gets paid bi-weekly thinks in terms of monthly income and expense....while the expense can be tied to monthly.....if you think that way about your income....you receive an extra TWO PAYCHECKS A YEAR. take both of those paychecks and put them towards you mortgage....they will go directly to principle....again, shortening the life of your loan AND reducing the total amount of interest paind on the loan....much more than is you were to switch to a 15 year mortgage loan.
 

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