Smart Spending Blog
Strategies for saving more
14Comments
Apr 13, 2012 2:50PM
We will end up having a "needs based" Social Security System" IMO so get out of debt now. Cash is king now and will be for some time to come. This is true before inflation kicks in.
My wife read Dave Ramsey's first book Financial Peace 20+ years ago and 7 years ago we paid of the house along with everything else at age 39. We have recently updated all ageing stuff like the mower, snow blower, truck, appliances and paid cash for all of it before the inventory's are leveled off and costs start climbing.
Two rules will serve you well. Live below your means and before you purchase use the cooling off period before you spend. It is very liberating to have control of your own money.
Apr 13, 2012 1:02PM
Apr 13, 2012 5:37PM
My #1 rule is this: DRIVE A CHEAP CAR!
This is probably the single biggest place people waste a huge amount of money, especially over the long term. Take the money that you would have spent monthly on a car payment and save it, or pay extra on your mortgage. This was probably the single biggest savings that allowed me to pay my house off in only 8 years.
As I say, "a paid-off mortgage is a lot more impressive than a fancy car (or fancy kitchen, or whatever)."
Apr 13, 2012 8:17PM
Apr 13, 2012 3:43PM
Apr 13, 2012 12:18PM
Apr 13, 2012 3:32PM
Apr 9, 2012 3:18PM
Apr 13, 2012 5:52PM
qwerty we drove one car for the first 5 years we were married and used it to pay off the mortgage so you have that one correct.
Another new found thing to understand is a house is a place to live not an investment. Just ask the folks in California about it. It is an expense just like everything else.
Apr 13, 2012 3:52PM
Jun 27, 2012 4:55PM
Apr 13, 2012 3:39PM
Saving these days is laughable. Considering the amount of interest on student loans, the government will make sure you remain poor. There is no way to dig yourself out of the hole no matter how frugal you live, trust me, I live it. I can't even buy a cup of much needed coffee without thinking twice. The government sure knows how to FLEECE and then blame the working people of this country that they dont know how to control their finances.
Report
Are you sure you want to delete this comment?
DATA PROVIDERS
Quotes are real-time for NASDAQ, NYSE and AMEX. See delay times for other exchanges.
Fundamental company data and historical chart data provided by Thomson Reuters; click for restrictions. Real-time quotes provided by BATS Exchange. Real-time index quotes and delayed quotes supplied by Interactive Data Real-Time Services. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by SIX Telekurs.
Japanese stock price data provided by Nomura Research Institute Ltd.; quotes delayed 20 minutes. Canadian fund data provided by CANNEX Financial Exchanges Ltd.