That Frugal Thing You Do

Questions on how we spend our money and our time - consumer goods and services, home and vehicle, leisure and recreational activities
TSR
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Re: What's your favorite frugal thing(s) to do?

Post by TSR »

To echo someone above, one of the best/easiest life changes I ever made was to switch to black coffee. For one, it means that much of what you drink is free (at the office, at various functions, etc.). But, perhaps more importantly, it symbolizes the most important notion of frugality: that you can change your tastes. In this case, that small change totally streamlines your morning. Also, coffee is great for your health when there's nothing in it (lots of antioxidants, etc.), but horrible when you put a bunch of junk in it.
jcman01
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Re: What's your favorite frugal thing(s) to do?

Post by jcman01 »

Take a thermos of coffee with me to work, instead of buying it.
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Nahum
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Re: What's your favorite frugal thing(s) to do?

Post by Nahum »

Reading and sleeping.
Fallible
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Re: What's your favorite frugal thing(s) to do?

Post by Fallible »

Enjoy walking, biking, reading, music, the arts, laughing at good humor.
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Fieldsy1024
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Re: What's your favorite frugal thing(s) to do?

Post by Fieldsy1024 »

Only go out maybe once a week
Research what I buy always.....I actually enjoy this
Try to buy things when on sale
Just purchased Amazon Prime. 79 dollars a year for free shipping plus you get instant movies. Any Amazon junkie would save lots on here. Plus Amazon usually has the best price offers.


When it comes to trips and traveling I don't care about splurging. I am frugal for things I don't love. But when I love something, price doesn't matter. Always remember that we only rent the things we own on this Earth. Memories are best IMO. You cannot take money with you when you are gone.

My wife and I usually save all of our vacation/sick time for the warmer months and have a great time. I work OT during winter time to help costs.
Trev H
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Re: What's your favorite frugal thing(s) to do?

Post by Trev H »

I bought a Flobee back around 1992 and have not paid for a hair cut since.

http://www.flowbee.com/

Best I remember it cost around 50.00.

I cut my hair something like a dozen times a year... so the total number of haircuts now would be around 254.

50.00 / 254 = 0.1968

So since 1992 the average cost of my hair cuts is around 20 cents.

It would be interesting to see what some of you guys pay for a hair cut and your calculated cost since 1992.

Trev H
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Tim_in_GA
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Re: What's your favorite frugal thing(s) to do?

Post by Tim_in_GA »

My favorite is exercise. I work out at home with minimal equipment. I also run and ride my mountain bike. Both very cheap activities.

My least favorite - washing out Zip-Loc bags to reuse. That's more my wife's thing but when I see a used bag sitting in the sink for more than a day it bugs me and I have to wash it.
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woof755
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Re: What's your favorite frugal thing(s) to do?

Post by woof755 »

Every morning I make a ginormous smoothie--enough for a big breakfast and to fill a canteen to have at lunch time. Using almonds, bananas and frozen fruit, some protein powder, almond milk and apple juice, it's very filling and sticks to my ribs all day long. It's not cheap--almonds are expensive, the protein is pricey, and probably $3 worth of frozen fruit every day. But it feeds my wife and I for breakfast and keeps me from spending $10 every day for lunch, it's pretty healthy, and I've lost 5 pounds over the last year since I started!
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woof755
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Re: What's your favorite frugal thing(s) to do?

Post by woof755 »

Trev H wrote:I bought a Flobee back around 1992 and have not paid for a hair cut since.

http://www.flowbee.com/

Best I remember it cost around 50.00.

I cut my hair something like a dozen times a year... so the total number of haircuts now would be around 254.

50.00 / 254 = 0.1968

So since 1992 the average cost of my hair cuts is around 20 cents.

It would be interesting to see what some of you guys pay for a hair cut and your calculated cost since 1992.

Trev H
I imagine many of us here spend more on shaving cream and razors for our heads than GreatClips. And even those razors are really expensive! I'm not there yet (every other month GreatClips for me), but I will be. I will be.
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Nancylee
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Re: That Frugal Thing You Do

Post by Nancylee »

In the last year, I have made some changes:

Color my own hair (saves over 100dollars every 3 months)

Bring lunch (saves at least 200 month)

Don't buy bottled water (saves 6.25 per week, adds up to more than $25 a month!)

Put myself on budget of 100 per month for sewing, pottery, jewelry making supplies - don't buy whatever I want to anymore

Gave up drinking 2 years ago, for health and money (saves about 200 per month)

Gave up Starbucks for every day. When I go out for coffee/tea, I get. The. 1.50 tea instead of the 4.75 latte.

Due to good advice from this board, will NOT lease the 495 dollar per month Honda CRV, will get old car fixed, drive it proudly, and put that money away.

:)
Nancylee
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Re: That Frugal Thing You Do

Post by Nancylee »

Sam I Am wrote:
Jordana wrote:As to inexpensive greeting cards, my mother gave my sister and I a box of nice quality greeting cards for different occasions, a few years ago from Costco. The cards looked "unique" and "upscale". My brother and sister-in-law just had a baby and went the family went over, my sister-in-law said that I and my sister had given gifts with the same card. She said the card was nice but she wondered how we had found the same card. Everyone said..."Oh the box of cards from Costco." So much for appearing original, unique or upscale.
One of my bosses had an even better Idea. He and his brothers mailed the same cards back and forth to each other each year! He was a pretty cheap boss, so I'm sure he enjoyed the idea, greatly.

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Sam,
I buy boxes of blank cards at AC Moore or Michaels and I draw or stamp decorations on them and handwriting the inside. Everyone loves them even though my drawings can be pretty funny! And not in a good way!
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mhc
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Re: What's your favorite frugal thing(s) to do?

Post by mhc »

Trev H wrote:I bought a Flobee back around 1992 and have not paid for a hair cut since.

http://www.flowbee.com/

Best I remember it cost around 50.00.

I cut my hair something like a dozen times a year... so the total number of haircuts now would be around 254.

50.00 / 254 = 0.1968

So since 1992 the average cost of my hair cuts is around 20 cents.

It would be interesting to see what some of you guys pay for a hair cut and your calculated cost since 1992.

Trev H
For me, basically $20 every 3 weeks. It is one of the things I really enjoy. I like the hair wash/head message after the hair cut.
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cheese_breath
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Re: What's your favorite frugal thing(s) to do?

Post by cheese_breath »

Trev H wrote:I bought a Flobee back around 1992 and have not paid for a hair cut since.

http://www.flowbee.com/

Best I remember it cost around 50.00.

I cut my hair something like a dozen times a year... so the total number of haircuts now would be around 254.

50.00 / 254 = 0.1968

So since 1992 the average cost of my hair cuts is around 20 cents.

It would be interesting to see what some of you guys pay for a hair cut and your calculated cost since 1992.

Trev H
I'm afraid it would suck my brain out. :twisted:
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mojave
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Re: What's your favorite frugal thing(s) to do?

Post by mojave »

#1 - shop at Goodwill. Most of my spare time is spent thrifting, digging, picking. I have a blast doing it and I technically get paid to do it. I frequently find $5 items worth $80+ and sell them.
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mojave
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Re: What's your favorite frugal thing(s) to do?

Post by mojave »

umfundi wrote:Groupon coupons for eating out.

They are great for both high-end (we had a really good $34 for $75 meal for two last night) and for low end ($7 for a $14 lunch for two at the local Thai place)

Keith.
Try restaurants.com - this website frequently offers 80% off the certificate too. I've bought $25 gift certs. worth $50 and with a discount paid $4. So I paid $4 for $50 worth of food.
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CaliJim
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Re: What's your favorite frugal thing(s) to do?

Post by CaliJim »

This not a "favorite", but it is frugal:

I'm selling many of my books on Amazon.

After tossing and donating my FILs library when he passed - I decided to part with mine now, lighten the load, and save my kids the trouble.

So far I've made $110.44 on 16 books. $6.90/book for a mix of hardcopy and paperbacks!!!!

I got $26 for "C Programming Language" (2nd Edition) by Kernighan and Ritchie. In paperback no less! It's an out of print classic now. I'm sure many Bogleheads have a copy of this one in their libraries.

Fitness, diet, and financial books are doing well. But I can't get enough for pulp fiction to justify listing it.

I listed my "Collected Works of Aristotle", and "A Treatise on Electricity and Magnetism Vol1 and 2" by Maxwell. Uplifting to let go bit by bit. Can't bring myself to list the Hegel, Kant, Wittgenstein, Kierkegaard , Godel, Newton, Leibniz, or Pascal yet... grasping mind still in control.
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SteveNet
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Re: What's your favorite frugal thing(s) to do?

Post by SteveNet »

My latest Frugal thing to do is...

Purchase Amazon or Home Depot gift cards at my Kroger grocery store for purchases I make at them with my Chase cc.

Chase pays me 1% reward right now at Kroger. (Grocery store) Depending on their cycle it could be 5%.
Kroger earns me 2 times (sometimes 4x) the fuel points on Gift card purchases up to $1 per gallon per month off. Points expire after the next month.
Chase Pays me either 1% or 5% reward (depending on their cycle) for Gas.

Nice to get up to $1 off per Gallon to fill up, Plus two sets of reward give backs from chase for something I was going to buy anyway. :beer
Being frugal is hard to learn, but once learned is hard to stop.
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mickeyd
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Re: That Frugal Thing You Do

Post by mickeyd »

Nancylee wrote:In the last year, I have made some changes:

Color my own hair (saves over 100dollars every 3 months)

Bring lunch (saves at least 200 month)

Don't buy bottled water (saves 6.25 per week, adds up to more than $25 a month!)

Put myself on budget of 100 per month for sewing, pottery, jewelry making supplies - don't buy whatever I want to anymore

Gave up drinking 2 years ago, for health and money (saves about 200 per month)

Gave up Starbucks for every day. When I go out for coffee/tea, I get. The. 1.50 tea instead of the 4.75 latte.

Due to good advice from this board, will NOT lease the 495 dollar per month Honda CRV, will get old car fixed, drive it proudly, and put that money away.

:)
Some changes? Wow, you've had a complete overhaul. Congrats!! :moneybag
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ryuns
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Re: What's your favorite frugal thing(s) to do?

Post by ryuns »

I think my favorite frugal thing is justifying some expensive habit because it's not as expensive as it otherwise would have been.

-Bike to the local restaurant! Dinner was $60, but we saved $1 in gas and $2 on parking!
-Go to local Belgian beer bar during happy hour! $1 off your $7 Flemish farmhouse ale!
-Grow some of our food! (Estimated payback for garden supplies, not including labor = ∞ years)
-Investing in native and drought tolerant landscape! (Water is still unmetered)

I actually have a ton of frugal habits that really do save a lot of money, but I constantly entertain myself with the ways that my frugal sensibilities will trickle over to my non-frugal hobbies/loves. Luckily, I have enough of a mind to conserve that I'd do many of the same thing without a dollar sign attached.
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ossipago
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Re: That Frugal Thing You Do

Post by ossipago »

Stevee wrote:Coffeemaking- I inherited a Keurig machine. I love it, but those K-cups are rather expensive (I'd guess roughly $0.75 each).
I could buy a reusable K-strainer (permanent K-cup) but why bother? I simply remove the used coffee from a used K-cup, fill it with any ground coffee lying around, cover with foil and voila - recycled K-cup ready for duty! :happy
I can't offer definitive proof, but I think investing in a reusable k-strainer is worth it, if nothing else because why take the risk of leaching chemicals out of a reused plastic k-cup to save $10? In any case, I use a little French press for single-serve coffee; you can take it to go, and use it at home or work with the minor effort of boiling some water.
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Re: What's your favorite frugal thing(s) to do?

Post by LadyGeek »

gvsucavie03 wrote:I've read a couple of older threads from years back and thought it would be fun to pose this question again... what are some of the frugal things you do?

1. Shop at Goodwill - GREAT bargains in a college town; sometimes new name-brand items for super cheap! :greedy
2. Use a cash envelope system for groceries, gas, entertainment and clothes
3. Collect spare change to use for birthday parties/gifts
4. Drive under 65mph on highways to save gas
5. Use a discount card purchased at a hockey fundraiser - lots of 10-25% off deals!
6. Purchase double-minute Tracfone cards instead of monthly cell phone contract
7. Brownbag, sometimes for dinner, too if I'm working late
8. Coupon, coupon, coupon
9. bought a '99 explorer with 210k miles that runs fine
10. Read library books instead of buying them
11. Avoid eating out
12. Read my neighbor's magazine issues after he's done with them
The old thread was resurrected (which is always an option). Since they cover the same thing, it got confusing as members are posting suggestions to both threads. To put everything in one spot, I combined the threads.

The Subject line (top left corner of every post) shows which thread the member originally posted in.
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Nancylee
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Re: That Frugal Thing You Do

Post by Nancylee »

rdmayo21 wrote:I purchase grass fed beef by the quarter cow directly from the farmer. You would not believe how much money this saves. I live in a one-bedroom apartment, so the chest freezer's in my bedroom :D
I have wanted to do this for a while, for both financial and health reasons, since our local farmer doesn't give the cows hormones or any antibiotics. Also, he kills the humanely, keeping them home, giving them a grain of bucket and then shooting them. If I am going to eat meat, I don't want the animal to have been treated horribly during life and before death, as they are on all of the factory farms. Ugh, so sad, and unhealthy.

At our local Goodwill type store, I got a Michael Kors wool winter coat and an Liz Claiborne coat for a dollar each, and the other day, the Salvation Army had two red wool coats for 19.99 each: a Harve Benard and a gorgeous Pendleton! I didn't buy them, because I don't need a coat, so I left them for someone who may need one, although an eBay seller probably bought them both. I never buy new anymore! Except undergarments and socks, will NOT buy them used. Yech.
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SteveNet
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Re: That Frugal Thing You Do

Post by SteveNet »

ossipago wrote:
Stevee wrote:Coffeemaking- I inherited a Keurig machine. I love it, but those K-cups are rather expensive (I'd guess roughly $0.75 each).
I could buy a reusable K-strainer (permanent K-cup) but why bother? I simply remove the used coffee from a used K-cup, fill it with any ground coffee lying around, cover with foil and voila - recycled K-cup ready for duty! :happy
I can't offer definitive proof, but I think investing in a reusable k-strainer is worth it, if nothing else because why take the risk of leaching chemicals out of a reused plastic k-cup to save $10? In any case, I use a little French press for single-serve coffee; you can take it to go, and use it at home or work with the minor effort of boiling some water.
As Frugal as I am (cheap that is, and dar-n proud) I had looked into single brew coffee machines on amazon and was taken aback at the price.
So I then looked at some of their other selections like the french press, and while doing so I came across a Melitta coffee type funnel.
Put the funnel on top of the cup, place a Mr Coffee type filter in the funnel, add a scoop of X-brand coffee, heat water in the microwave to a boil and pour it over the coffee.
One hole in the bottom that drips/runs into the cup.

BEST coffee I have had in a very great while... Cost at my Kroger store for funnel...$2.50 :beer

Image
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michaelsieg
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Re: That Frugal Thing You Do

Post by michaelsieg »

Re: What's your favorite frugal thing(s) to do?
by reggiesimpson » Sun Feb 24, 2013 5:44 pm

After shaving clean and DRY the blade (blow on it, hairdryer etc). Its the water that corrodes the blade not the actual shaving.
That is great advice - I hate to spend money on razors. How much longer do the blades last?
Paul78
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Re: That Frugal Thing You Do

Post by Paul78 »

kinda wish I was MORE frugal

but really I think (clearly I could be wrong)

max out my TSP = 17.5k
max out ira = 5.5 k
TSP matching = 3.5k (current match will increase to 6k in todays money when I am nearing retirement)

26.5k a year towards retirement (will increase with TSP employer matching and TSP/ira contribution limit increases over the years)

+ 40k a year pension plan (in today's money when I retire in 33 years)
+ retirement healthcare coverage
+SS (not counting on it but it might still be around when I retire)

will be enough for me to live an adequate lifestyle in retirement.

I spend the majority of the rest of money (eating out at nice restaurants, sporting events/concerts, renting a nice apartment I can barely afford, ect) . What I do save is allocated to a house deposit (goal of a 100k), a new car (20k BUT I will keep the car for 8+ years if possible), and a emergency fund (goal 50k). Currently only have 25k in saving so I am a loooong way from saving additional money towards retirement.
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VictoriaF
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Re: That Frugal Thing You Do

Post by VictoriaF »

Paul78 wrote:max out my TSP = 17.5k
max out ira = 5.5 k
TSP matching = 3.5k (current match will increase to 6k in todays money when I am nearing retirement)

26.5k a year towards retirement (will increase with TSP employer matching and TSP/ira contribution limit increases over the years)
How do you calculate TSP matching increasing to $6k? Agencies provide 1% automatic contribution and up to 4% matching contribution on your contribution of up to 5%, please see this link. As your pay increases, the Agency's match will also increase, but so will the TSP and IRA maximums.

Victoria
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Paul78
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Re: That Frugal Thing You Do

Post by Paul78 »

VictoriaF wrote:
Paul78 wrote:max out my TSP = 17.5k
max out ira = 5.5 k
TSP matching = 3.5k (current match will increase to 6k in todays money when I am nearing retirement)

26.5k a year towards retirement (will increase with TSP employer matching and TSP/ira contribution limit increases over the years)
How do you calculate TSP matching increasing to $6k? Agencies provide 1% automatic contribution and up to 4% matching contribution on your contribution of up to 5%, please see this link. As your pay increases, the Agency's match will also increase, but so will the TSP and IRA maximums.

Victoria

cause the gov matches 5% of my 'base" pay. My current base pay is 70k a year (I make 85-90k a year but that includes holidays differentials and some OT). 3.5k= 5% of 70k.

My top base pay (when I have a total of 32 years experience and am at the top level/grade/step) will be 120k. 5% of 120k is 6k.

There might be a cap with regards to how much the gov will pay BUT I will not make enough to reach that cap.
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nydad
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Re: That Frugal Thing You Do

Post by nydad »

For a while I used paperbackswap.com. Free to use, you just pay to ship the books, and you get a new book from someone else. Great for paperbacks that would otherwise be worthless - you swap them, and get a new book you like. Rinse and repeat. Note: new/popular books are often not available, but older books are easy to find.
gvsucavie03
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Re: That Frugal Thing You Do

Post by gvsucavie03 »

SteveNet wrote:
ossipago wrote:
Stevee wrote:Coffeemaking- I inherited a Keurig machine. I love it, but those K-cups are rather expensive (I'd guess roughly $0.75 each).
I could buy a reusable K-strainer (permanent K-cup) but why bother? I simply remove the used coffee from a used K-cup, fill it with any ground coffee lying around, cover with foil and voila - recycled K-cup ready for duty! :happy
I can't offer definitive proof, but I think investing in a reusable k-strainer is worth it, if nothing else because why take the risk of leaching chemicals out of a reused plastic k-cup to save $10? In any case, I use a little French press for single-serve coffee; you can take it to go, and use it at home or work with the minor effort of boiling some water.
As Frugal as I am (cheap that is, and dar-n proud) I had looked into single brew coffee machines on amazon and was taken aback at the price.
So I then looked at some of their other selections like the french press, and while doing so I came across a Melitta coffee type funnel.
Put the funnel on top of the cup, place a Mr Coffee type filter in the funnel, add a scoop of X-brand coffee, heat water in the microwave to a boil and pour it over the coffee.
One hole in the bottom that drips/runs into the cup.

BEST coffee I have had in a very great while... Cost at my Kroger store for funnel...$2.50 :beer

Image
Wow, I'll have to look this up! Pour-over brewing is by FAR the best way to make it. There is a great little shop where I did my Master's work and a bunch of us candidates would get a cup there every morning. You get all of the subtle fruity notes in the beans that get lost in a regular coffee maker and even in a French press.
hicabob
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Re: That Frugal Thing You Do

Post by hicabob »

+1 on the Mellita coffee filter holder - have been using mine for perhaps 2 decades now! - you can make the coffee as strong or as wimpy as you like + cleanup is easy - costco sells #4 filters in bulk which are perfect
Curlyq
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Re: That Frugal Thing You Do

Post by Curlyq »

hicabob wrote:+1 on the Mellita coffee filter holder - have been using mine for perhaps 2 decades now! - you can make the coffee as strong or as wimpy as you like + cleanup is easy - costco sells #4 filters in bulk which are perfect
You can buy or sew reusable filters out of muslin or cotton fabric. Saves money and reduces land fill waste.
scouter
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Re: That Frugal Thing You Do

Post by scouter »

Here's one that we didn't expect to pay such good dividends. For years we spent the better part of a day finding the perfect "live" Christmas tree. By Christmas, they were always dry and dropping needles everywhere. When we moved to our current house, our son (then 5) saw a TV show that mentioned that dried-out Christmas trees were one of the top causes for house fires, and he announced that we needed to buy an artificial tree.

So we bought one for $200 and 17 years later, it still looks great. Most guests are surprised when we tell them it's artificial, it really looks good.

That's 11.76/year, (so far), compared to about $120/year for a comparable 10-foot live tree. That's $1840 in savings so far, not counting all the time saved in shopping for it, bringing it home, taking it to be recycled, etc.

I remind my son every year of his brilliant decision. (Did I mention he's becoming a CFP?)
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Re: That Frugal Thing You Do

Post by Boglenaut »

scouter wrote:Here's one that we didn't expect to pay such good dividends. For years we spent the better part of a day finding the perfect "live" Christmas tree. By Christmas, they were always dry and dropping needles everywhere. When we moved to our current house, our son (then 5) saw a TV show that mentioned that dried-out Christmas trees were one of the top causes for house fires, and he announced that we needed to buy an artificial tree.

So we bought one for $200 and 17 years later, it still looks great. Most guests are surprised when we tell them it's artificial, it really looks good.

That's 11.76/year, (so far), compared to about $120/year for a comparable 10-foot live tree. That's $1840 in savings so far, not counting all the time saved in shopping for it, bringing it home, taking it to be recycled, etc.

I remind my son every year of his brilliant decision. (Did I mention he's becoming a CFP?)
Speaking as one who had his 4 year old Christmas presents burned on Christmas day in a tree-caused house fire, always go with an artificial tree. At least lights nowadays run a lot cooler.
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Re: That Frugal Thing You Do

Post by Sam I Am »

Message deleted.
Last edited by Sam I Am on Sun Oct 06, 2013 1:51 pm, edited 1 time in total.
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nydad
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Re: That Frugal Thing You Do

Post by nydad »

Any thoughts on turning this thread into a wiki, page, sorted by category of tips - then we could archive these for the long term and would make it easier for people to find our frugal ideas in one place.
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Re: That Frugal Thing You Do

Post by LadyGeek »

Sorry, this topic doesn't qualify for the wiki. It's not investing related and doesn't meet the Wikipedia:Five pillars criteria under Wikipedia is not an indiscriminate collection of information.

The top left corner of every thread has a "Search this topic..." box, which might help.
Wiki To some, the glass is half full. To others, the glass is half empty. To an engineer, it's twice the size it needs to be.
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nydad
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Re: That Frugal Thing You Do

Post by nydad »

Hmm... a few questions:

1) Isn't *saving* a key pre-requisite of *investing*? This thread is all about tips for saving money. That seems directly relevant to the "boglehead" philosophy.
2) We have entries like this: http://www.bogleheads.org/wiki/Video:_S ... _Lifestyle. Why not a page about how to be frugal?
3) What do wikipedia's policies have to do with our wiki? From here:http://www.bogleheads.org/wiki/Help:Getting_started "Note that there are no guidelines on what subjects to include or exclude. We hope that common sense prevails." The bulk of articles in our wiki would never qualify for a wikipedia article anyway, so I'm not sure why their content policies matter here...
4) Disk space is cheap. I'm not sure I see the harm in a useful/relevant collection of info, collected from wise bogleheads, on how to save more money (which can then be used to invest)
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Re: That Frugal Thing You Do

Post by LadyGeek »

No problem, a few answers:

1) Isn't *saving* a key pre-requisite of *investing*? This thread is all about tips for saving money. That seems directly relevant to the "boglehead" philosophy.
Frugality is a method used to achieve your savings. That's a good point.

2) We have entries like this: http://www.bogleheads.org/wiki/Video:_S ... _Lifestyle. Why not a page about how to be frugal?
If you want to create an article in the same style, that's fine. As for simply creating a list of items (ignoring Wikipedia standards), it will become out of date rather quickly. Who's going to update it? We're still looking for help with: Articles in Need of Content :wink:

3) What do wikipedia's policies have to do with our wiki? From here:http://www.bogleheads.org/wiki/Help:Getting_started "Note that there are no guidelines on what subjects to include or exclude. We hope that common sense prevails." The bulk of articles in our wiki would never qualify for a wikipedia article anyway, so I'm not sure why their content policies matter here...
Actually, the majority do qualify, i.e. present all points fairly from a neutral perspective using credible sources. The Bogleheads specific pages and a few others might not fully qualify due to the subject matter, but the intent is to comply. We use Wikipedia's policies because it is used by millions of readers and is successful - there's no reason to do differently. The Wikipedia guidance is on this page: Help:Contents

4) Disk space is cheap. I'm not sure I see the harm in a useful/relevant collection of info, collected from wise bogleheads, on how to save more money (which can then be used to invest)
Disk space is very cheap, but it's the content that's important.
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nydad
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Re: That Frugal Thing You Do

Post by nydad »

Actually, the majority do qualify, i.e. present all points fairly from a neutral perspective using credible sources.
I agree that those are important criteria, but what I meant by "qualify" was "pass the notability test": http://en.wikipedia.org/wiki/Wikipedia:Notability. As I look at the articles, I'd say at least half, if not more, would not pass notability standards for Wikipedia.

For example, one core wikipedia policy is that wikipedia is not an instruction manual or textbook: http://en.wikipedia.org/wiki/Wikipedia: ... ic_journal, but our wiki is full of instruction manuals which are quite useful - e.g.
http://www.bogleheads.org/wiki/Approxim ... ock_Market
http://www.bogleheads.org/wiki/Tax_Loss_Harvesting
http://www.bogleheads.org/wiki/Owning_vs_Renting
etc.

Wikipedia is an encyclopedia, which explains its content rules, but I see the bogleheads wiki as going beyond an encyclopedia, to have a bit more opinion, argument, debate, discussion, and tips/suggestions - as we all know, there are many areas of investing where the debates are not settled and multiple points of view prevail (should you own TIPS? should you market-time bond duration, etc.)
As for simply creating a list of items (ignoring Wikipedia standards), it will become out of date rather quickly. Who's going to update it?
This is a good point; I think we should think about how to structure it - perhaps we could focus on "frugality" measures which are not likely to go out of date, e.g. "Make your own cleaning products" or "Bring your lunch to work"" vs "there's a sale at Costco tomorrow therefore your should stock up on xxx" or "buy credit card X from provider Y which gives percentage points Z". Perhaps I could draft a page and then you could suggest how to improve it?
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Boglenaut
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Re: That Frugal Thing You Do

Post by Boglenaut »

nydad, I am very glad you think so highly of this thread. I never suspected it would still be active 4 years after I started it. I loved the responses we got.

One problem I see about converting it to a wiki is some of the suggestions:
  • Were not serious but intended to be humorous, like using both sides of the toilet paper.
    Bordered on the unethical, impractical or socially unacceptable.
So some ideas would need to be edited out.

There are a lot of other sources for frugality tips. I typed "frugality tips" into DuckDuckGo and got pages. Here was one near the top:

http://www.frugal-living-tips.com/fruga ... 2form.html
Frugal Living Tips
Submit Your Own Money Saving Tips

Share your frugal living tips with our online community of money savers. Being a smart shopper and home maker is something to be proud of, especially in these days of excess and waste. So if you are a frugal living enthusiast and have either found a bargain lately, or have a frugal tip to pass on to others then why not let the rest of us in on your money saving idea.
Of course, starting a thread in Bogleheads gives a much different flavor than reading a webpage given our unique slant.
Larry Siegel
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Re:

Post by Larry Siegel »

Blue wrote:I don't wear a watch....

cost savings, $5,000

:lol:
Funny

I also don't drive a Ferrari (savings: $300,000)
I don't live in a McMansion (savings: $1,750,000)
and I don't have a first and second ex-wife (savings: $5,000,000)

Seriously: I'm not very frugal, but I only buy good used cars and I live in the house I bought in 1985.
Novine
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Re: That Frugal Thing You Do

Post by Novine »

"Friends said I am too frugal and too cheap on things and myself now... I managed to save $5000 each month and invested all of them into my portfolio. I feel guilty if I don't have $5000 saved monthly... Friends sand I am too crazy about investing..

Here's a list:
- Check slickdeal/fatwallet site daily for coupons/deals
- Get 5 dollars hair cuts
- Always take my lunch to work
- Spend hours to fix my rental properties when I can simply hire someone else
- Use no cellphone contract (VirginMobile service: $25/mo)
- Never use brand name stuffs
- Always pack up leftover food if we eat out
- No cable services. Only watch local tv channels or netflix (bought 1 year subscription for $30 bucks via ebay).
- Shop at Ross for cheap clothing/shoes
- etc...

A friend asked me today: What happen if your investment portfolio tank tomorrow? He said you should treat yourself better today and don't worry about tomorrow."

If you're making enough money to save $5,000 a month, then you can probably afford to spend more in all the areas where you are saving and still save quite a bit for retirement. I suspect that your friends/co-workers, if they are making similar income to you, don't understand why you are going to such lengths to save as much as you are saving. But as long as you are happy living the way that you do taking the steps you are to save, why worry about what others say? If your actions were somehow impacting negatively your personal life, work life or your personal happiness, then you might want to reconsider why you are focused on saving so much. But as someone who doesn't make as much as you apparently do, most of what you are doing is what those of us who can't save $5,0000 a month are doing to have more money to invest for the future.
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Re: That Frugal Thing You Do

Post by Ged »

I'm not super thrifty but there are a few things.

Do my own basic car maintenance like oil changes, batteries, filters, spark plugs etc.
Use of a Kill-a-Watt to check electrical consumption, and eco power strips to minimize vampire use.
Infrared temperature monitor to find thermal leaks in house.
Use of whole house fan to minimize AC use.
Prepaid cell phone instead of contracts.
Build all of my computers from parts. This also leads to my doing all of my computer repairs.
Buy all of my books and CDs used.

Future: need to learn more about small engine repair.
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frugaltype
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Re:

Post by frugaltype »

DSInvestor wrote:
Cherokee8215 wrote:
preserve wrote:[
-I don't donate money to charity.
Neither do I, and was afraid to admit it. Thanks for breaking the ice! I give $50/yr to the local volunteer fire department, but that's it.

Edit: I donate used clothing to a local charity thirft shop but that's it. Nothing monetary.
Don't feel bad about not donating money. Donation of clothing is a donation and it helps. Donating time may be even more precious than money.

I remember this George Carlin joke:
Religion has convinced people that there’s an invisible man? living in the sky, who watches everything you do every minute of every day. And the invisible man has a list of ten specific things he doesn’t want you to do. And if you do any of these things, he will send you to a special place, of burning and fire and smoke and torture and anguish for you to live forever, and suffer and burn and scream until the end of time. But he loves you. He loves you and he needs money.
bold=my emphasis
I donate to charity. but I pay attention to what I'm donating to. I donate mostly to small local animal welfare groups or larger environmental organizations that I know are using the money wisely. There is a really desperate need for help in various areas.

I don't donate to large organizations that are questionable, like (I'll leave these nameless in case that is against policy) the one that people always think of in major disasters but that has a record of misusing money. There are plenty of smaller ones in there on the ground helping that need money. Or a cancer group that is political and has a half mil a year Socialite as its CEO.
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Re: That Frugal Thing You Do

Post by Barefootgirl »

Study Buddhism. The rest naturally falls into place without much conscious effort...it destroys most cravings = naturally leads to spending fewer resources.

BFG
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xram
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Re: That Frugal Thing You Do

Post by xram »

VTI, VBR, VTWV, SCHH, VXUS, VEA, VWO, VSS, FM, VNQI, VBTLX, VFITX, SCHP, VWITX, IBONDS, EEBONDS, EF(EverBank), UTAH-529
oxothuk
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Re: That Frugal Thing You Do

Post by oxothuk »

My definition of frugality has three facets
a) understanding where most of my money is going
b) understanding the value I get from different expenditures.
c) ensuring that (a) and (b) are in alignment.

Like many other posters I subscribe to Netflix. I have the 3- DVD + streaming plan ($25 per month), and have only an antenna for other TV. I have a home-brew DVR (MythTV) which I built myself so I can fast-forward through commercials; I could not have survived the last NFL season (2012 elections) without it.

I consider Netflix such a good value that I use it as a benchmark for other discretionary expenditure. Before spending $50 on a 2-person dinner at a chain restaurant I ask myself "is this worth as much as two months of Netflix?" ; the answer usually is "no". On the other hand, I find an occasional dinner of nouvelle cuisine for $150 gets a "yes" from the same test.

I fly economy rather than business/first because the extra comfort of the latter is not equivalent to the enjoyment I would get from applying that $200 per seat-hour in some other way. If I were taller/bigger then it might be different.

Other things I do which others have already mentioned:
1) Read free classics on Kindle app
2) Buy/sell physical books at a local used bookstore.
3) Buy staples in bulk at Costco.
4) Eat at home most of the time. I also work from home, which makes that a lot easier.
5) Drive older cars. I generally buy them new, however.
6) Take vacations in the off-season, since we are no longer bound to school schedules.
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Clearly_Irrational
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Re: That Frugal Thing You Do

Post by Clearly_Irrational »

I try to use the Pareto principle when trimming expenses, after all you get way more bang for the buck by living in a cheaper house than you do by re-roasting your coffee grounds or some such. In no particular order:

1) I hang out on Bogleheads where I get great advice on a variety of subjects for FREE!
2) Junk mail is actually free fire starter material
3) I buy new tires instead of used (I bought used for years until I did the math and realized it was actually costing me more)
4) Once a year I print out a detailed list of everything we spent over the last twelve months then go through it line by line asking if there is a way we can reduce, replace or eliminate that item.
5) I act like a business and regularly shake down my vendors for better contract terms
6) I do a lot of my own repairs and such

I don't think it's in the frugal category, but one big thing is that I try to draw a clear line between assets and possessions. Assets make you money or at least save you money while possessions just cost you money. As much as possible I try to buy assets more often than possessions. For example, we live in one half of a duplex and collect rent on other side. We bought a deep freezer that lets use pick up extra meat when it's on sale, etc.
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fatlittlepig
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Re: That Frugal Thing You Do

Post by fatlittlepig »

i cut my own hair- and yep it do look good
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Re: That Frugal Thing You Do

Post by lightheir »

Interestingly, as much as I enjoy hearing about everyone's frugal tactics, at least in my experience, there is one thing that generally trumps all other factors, almost without question.

Where you live.

You can be a prodigious spender, in fact, profligate and wasteful in terms of indulgences, and still end up hundreds of thousands of dollars ahead if you can make it work in a much smaller, much less expensive home. Live in a nice neighborhood, and even saving $3000 per month ($100/day) with all sorts of lifestyle adjustments might not even make a dent in your financial obligations.
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