I forget which poster it was, but someone here recently discussed how there are several factors involved when they decide to do a shop - or not. Her points were so valid.
I won't due a lot of shops because for me personally, the net gain is not worth the time, expense or hassle factor....I know, I know, we're all different.
That said, I find it relatively easy to find ways to save money, not as easy as pre-pandemic, but still very doable.
Do you want to share yours?
(1) I use the Upside app to look for nearby gas discounts whenever I need gas.
(2) I pay household expenses using a cash back credit card, provided there is no fee for that.
(3) I rarely buy name brand products for around the home unless I know about a quality issue.
(4) I invest in low fee investments, all else being equal
(5) pay healthcare expenses using an HSA (after any insurance of course)
(6) I buy expensive items I need or want at a discount (name brands that are quality) by looking for them gently used
(7) maximize travel points and miles
(8) Prefer a low maintenance lifestyle which has its own rewards
(9) pretty much always shop for deals, but not really for entertainment costs or gifts for others or meals with others or tipping for sit down service. For those, I tend to just look the other way and go for it lol.

Edited 1 time(s). Last edit at 09/18/2024 04:57PM by BarefootBliss.

I like these kinds of topics. Thank you for sharing your tips, I enjoyed reading it.

In my younger years, I think I was too cheap/frugal, and now starting to shift my mindset on certain things. It's been out of balance now, where at a relatively young age, I put a lot into retirement and investments, but now I feel like I need to increase my quality of life to an extent. The biggest regret I have is not purchasing multiple rental property units near me at an ideal time. But hindsight is 20/20.

For me, I don't eat out as much. I don't spend money on fast-food. It's sort of a time-suck, but I cook and prepare all of my food now. It sort of balances out in the long run because I don't over-eat. I am willing to pay a premium now on higher quality groceries, self-care products, and products in general that I know I will use a lot and often. I'm willing to spend money on anything that makes my life easier. I was thinking about this recently, but one thing I'm willing to splurge on is tolls, if it can save me time. Also, going forward, I have tried to do a better job of factoring in tax implications when making decisions, increasing gross receipts rather than only decreasing expenses, and better balance with health and wellness.

(4) I invest in low fee investments, all else being equal - I agree, especially if it's based on a %age of growth accumulation. Ideally, a small flat fee upfront for any professional advisors.

(5) pay healthcare expenses using an HSA (after any insurance of course) - I tend to invest my HSA for triple tax savings and let it grow, but keep the receipts later reimbursement down the road.

(6) I buy expensive items I need or want at a discount (name brands that are quality) by looking for them gently used - Yes!

#5 - if you can pay using a rewards credit card, then reimburse yourself from the HSA, you get some points that way.

I either use Checkout51 or Upside for gas as well but check the various gas station apps around me as well. Sometimes my local chains will have 25c off a gallon! I'm waiting till I have enough in CO51 to cash out then will probably switch to Upside exclusively, since they're easier to cash out from.

I use app coupons at stores like Walgreens, CVS, grocery store, and rebate apps like Fetch and Ibotta.

Gardening and cooking at home saves us a ton.

I'm in a somewhat rural area so before I shop, I usually check the store app to make sure whatever I need is in stock. When I do go to a further out store for a stock-up trip, like Aldi or Sam's club, I buy 2 of everything that's non-perishable that we will use eventually like toilet paper, etc.

Besides groceries and gas, our biggest expenses are HVAC costs - so I make sure to change our furnace filter regularly. Right now, it's hot during the day but cools down at night, I shut off the a/c and cool the house down and close it up in the morning. Things like that make a big difference for us!

I was thinking about expenses. Property taxes are high here in TX. If anyone faces a similar situation, hiring someone to do the legwork for you and dispute it, where they only get paid if they're successful in getting it knocked down. The earn a %age of the savings as an incentive.

I don't have it in me to do that myself, but I'm willing to agree to that arrangement and have someone else do it for me on my behalf.

Lent, even when you are not religious and it is not the Lenten season. Abandon some cost that will not affect your health or longevity. Do this even if you feel like you will die without the dear, cherished whatever. Share the savings with others or just give yourself a pay raise. (You have created a vacuum for something else... Might you like the new better?)

A small tip I ran into recently. Did some of those Pizza Hut in a Target shosp. Some I wasn't able to visit until towards the end of the shop period, so they were out-of-stock on pizzas, and the shop then requires a small purchase. Most may know, but I was able to get some good deals on spring mix that was set to expire soon. The quality was a little less than other places, but better than Kroger and other places. It tends to still be good some days after. Not bad to me!

I'm starting to go through all of my rewards and gift cards. If I ever come across a location, I try to redeem a reward then. I keep a gift card from different retailers on me, and been remembering to use it.

Also, created a spreadsheet to keep track of CDs set to mature, and updating renewal options.

Not long ago, I found a Panera gift card that I had been lugging around with me for too long. I looked up the balance - I have about $200 on that thing and I don't even like Panera that much....all I can figure is that I must have bought it on one of those gift card discount sites awhile back and might have been trying to reach a sign up bonus deadline for credit cards....
I don't do that any more....gift cards that is....unless I am buying one for someone else.

Same here, I bought some or was gifted to places I no longer frequent. With one restaurant, the gift card is going to be drained ever so slowly, one unsweet tea at a time. Also have a large Starbucks and Amazon balance. But these Costco cash cards are gold to me now!

I blow through Starbucks gift cards whenever I am gifted with one lol....

lets see.. I'll try to make a list.

1. gasoline
I bought a 30 gallon gas caddy for $150.00 and I currently have 4 - 20L Jerry cans (5 gal). We do gas station shops we fill up the cars first, then the gas cans. We bring the gas cans home and put the gas into the gas caddy, then put them back in the cars. Not too very long ago, we used to wait for bonus' for the P66 stations and bid on them (former MSC), we made ok money, and we filled up the gas cans and the cars. Now we grab them as fast as we can at base pay because we get 3 gallons of gasoline and a bag of nuts for the reimbursement. We use the Kroger points for $1.20 - $1.50 off per gallon on 35 gallons every month, which fills up the gas caddy all by itself. Shell stations reimburse for 2 gallons of gasoline, a short route of those tops off a car and fills 1 or 2 cans.

2. Food
Grocery shops, Kroger and competitors, $30 reimbursement for $35 worth of food to time them and describe what a person was wearing. $18 in store, $9 reimbursement, $9 pay = $18 of groceries. Plus the things that Kroger offers, $30 if you spend $120 per week for 3 weeks, or an extra 300 fuel points if you spend $50 in a pickup order, and 4x fuel points for everything you purchase on Fridays (except at the fuel island for some reason).

In addition to the Kroger groceries, my son dumpster dives and we honestly get better and fresher food in dumpsters than we used to get from the food banks during the pandemic shut down. The chickens and the dogs eat mostly for free, I buy a 50 lb. bag of layer feed for 50 - 80 chickens probably twice per month.

I obviously get all of the eggs I could possibly eat in 30 years in most normal production seasons (Jan - September), the dogs eat eggs, I eat eggs EVERY day, I freeze a dozen raw eggs at time out of their shells in zipper bags. I bake a dozen or more eggs on a sheet pan until the yolks are set, break them up and put them in a zipper bag in the freezer for making egg salad. When my son gets whole milk when he's dumpster diving we make it into yogurt and cream cheese. Not to mention the 5 - 3lb bricks of Philadelphia cream cheese in the freezer (it's probably time to bake a few cheesecakes).

My mother and some of my friends ask if I can ship fresh eggs to them. And I would, but since the USPS shops changed, I really can't afford to do it without their help. I've asked them to buy those plastic camping egg cartons so they can ship with minimal breakage. I can fill them up and send them for free or for very little money. No one has bothered to send me the cartons yet, in over 10 years of raising chickens.

My largest food expense is coffee. I spend about $50 every other month for 3 lb. bags of the freshly roasted coffee I like. My son sometimes finds grocery store ground coffee in the dumpsters, but he doesn't bring them home often, I can sometimes deal with Maxwell House in a pinch, but the rest just repulse me. He has tried to sell them for half the price of the grocery stores around here and they aren't interested either, so he doesn't bring them home anymore.

Utility bills probably should be the subject of another conversation.

Edited 1 time(s). Last edit at 10/06/2024 10:24PM by Morledzep.

@Okie wrote:

I like these kinds of topics. Thank you for sharing your tips, I enjoyed reading it.

In my younger years, I think I was too cheap/frugal, and now starting to shift my mindset on certain things. It's been out of balance now, where at a relatively young age, I put a lot into retirement and investments, but now I feel like I need to increase my quality of life to an extent. The biggest regret I have is not purchasing multiple rental property units near me at an ideal time. But hindsight is 20/20.

For me, I don't eat out as much. I don't spend money on fast-food. It's sort of a time-suck, but I cook and prepare all of my food now. It sort of balances out in the long run because I don't over-eat. I am willing to pay a premium now on higher quality groceries, self-care products, and products in general that I know I will use a lot and often. I'm willing to spend money on anything that makes my life easier. I was thinking about this recently, but one thing I'm willing to splurge on is tolls, if it can save me time. Also, going forward, I have tried to do a better job of factoring in tax implications when making decisions, increasing gross receipts rather than only decreasing expenses, and better balance with health and wellness.

(4) I invest in low fee investments, all else being equal - I agree, especially if it's based on a %age of growth accumulation. Ideally, a small flat fee upfront for any professional advisors.

(5) pay healthcare expenses using an HSA (after any insurance of course) - I tend to invest my HSA for triple tax savings and let it grow, but keep the receipts later reimbursement down the road.

(6) I buy expensive items I need or want at a discount (name brands that are quality) by looking for them gently used - Yes!

Hey Okie,
What held you back from buying rental property? I go back and forth on this frequently. My area always has people looking for rentals, but I am concerned with bad tenants, no tenants, etc.

My biggest money saver is my garden. I am an avid food preserver and can, freeze or dehydrate everything we grow. I find all sorts of new canning and preserving recipes on Pinterest and Facebook. For those things we don't grow, I shop the grocery store markdowns and preserve those as well. I am a vegetarian but my husband eats meat, so our meat purchases are minimal. I do a bunch of Kroger shops as well as some other grocery stores each month. It covers a lot of essentials I don't grow. I am retired so I have the time.

@joanna81 wrote:

Hey Okie,
What held you back from buying rental property? I go back and forth on this frequently. My area always has people looking for rentals, but I am concerned with bad tenants, no tenants, etc.

For me, I had an opportunity to purchase at an ideal time a little after COVID, when I came into a large sum of cash. But thinking about it more and being honest with myself, I knew my natural skillset wasn't a good fit to be a landlord. I would have to delegate and hire a property management company. When I went through all of the expenses in my head such as property taxes, insurance, property management fees, and other unforeseen expenses, I personally thought that there would be too much tied into it, and more variables for things to go wrong. To compare it to how I made most of my money on the side from investing and trading, this really wouldn't be passive income. After reevaluating it further, I wanted to stick with trading and true passive investing through partnerships. Looking back it now, I was only considering owning rentals for the tax advantages, and it was a little more uncertain time back then.

Sorry for the length. But I do have additional things, if you are interested though. It may be a good fit for you, and you may end up being really successful at it. Me personally, I don't possess the natural skillet, in addition to working. The biggest thing for me is that I wouldn't want to have to deal with the tenant or be a landlord. I would have to hire a property management company.

The time I considered purchasing was from late 2020 to 2021. Late 2020, I ran into a large sum after selling a mix of long-term positions and short-term gains. At the time, I lived in a modest neighborhood, but in a prime centralized location with a good school district. It was also a smaller and more quiet neighborhood, not too saturated with shopping and retail, when compared to other similar suburbs. There were surrounding trails, ponds, and parks that added value. At the same time, two houses in my neighborhood were for sale due to the neighbors not being able to afford it. One house that was for sale, I was positive would be able to be rented out and attract the right type of tenants, and was a good entry point. The other house not so much. I had discussed a deal with that neighbor after the house had been on the market for a while, but later Opendoor came into the picture and offered an all-cash offer. I had the option to make a competitive offer and would have gotten it, but decided not to.

If you're considering buying a rental property and don't go the property management company route, the people I know that have been successful usually have good time management skills, have a flexible schedule, respond and coordinate things quickly, and process-oriented. Also, if you and your husband are naturally handy, enjoy DIY, and have relationships with contractors, it can make for a good fit. I found that couples are good at this, splitting the landlord and repair duties.

Definitely place an emphasis on purchase price and location, in addition to financing rates and terms. Make sure to find the right property that can be easily rented out and have ROI year-over-year, where you can justify increasing rents. Take into consideration property appreciation, finding and making concessions for the right type of tenant for the home long-term (going through different tenants is a pain for everyone), and potential exit and tax strategies. Down the road, some things to consider, you could come to an agreement with a long-term tenant to sell, or have a 1031 exchange in mind (for an additional rental property or even making it your primary residence later).

I guess my best side gig was owning a rental property. I did some of the work myself, painting, ripping out flooring, etc. Paid for flooring to be installed and other work.
But I had some rough tenants. The place made me money by increasing in value over time. So I sold for double what I paid. I was glad to be rid of it.
For me, a management company, as @Okie mentioned, would have been better.

Now I own a holiday rental and it's managed by a company. It earns very little overall, very expensive to operate in a tourist town. It's only busy in the summer, but then we can use it for skiing in the winter.
Others rent out their units through Air B&B. Maybe, they make more. ¯⁠\⁠_⁠(⁠ツ⁠)⁠_⁠/⁠¯
But I want nothing to do with the running of it.

It's increased a lot in value, But again, tourist town. At one point, it dropped a lot in value.

Anyway, selling that one rental property was my biggest financial windfall, or biggest sideline.

Edited 2 time(s). Last edit at 10/12/2024 10:12AM by prince.

Thank you Oakie and Prince for the feedback!!

@Okie wrote:

I was thinking about expenses. Property taxes are high here in TX.

Yean but there is no State income tax. State has to provide servies. Somehow they need to raise money. But you're right they are high.

Everyone wants sevices, but nobody wants to pay for them.

Oakie? Obviously, some people are typing on their phones. No need to be formal, just call me Oak. Or Professor Oak of Pokémon fame.

And yes, I’m typing on my phone, as well. That e in Pokémon was autocorrect.

I do many of the things you suggested.

Financial freedom is where it is at.

Don't pay interest on anything except your home. If you do have the type of income to purchase a home in cash, excellent.

Save until you can afford the vehicle to pay in cash. Most people have no idea how much their car cost when interest is included. Thousands of dollars are spent on interest. Also, if something happens with your income down the road, your car is already paid for. Personally, I purchase cars from private sellers to eliminate the middlemen and save on all of the extra fees. I've never bought a car from a dealership, and I have never paid interest on cars.

My wife and I paid off $100,000 student loan debt in 3 years by using the Dave Ramsey snowball method and living frugally.

For gas, I have someone else's Costco card to use (Costco gift cards can also be used without a membership), Sam's Club gas access through Walmart+, and Shell discounts through T-Mobile.

I get free giveaway items on Craigslist for some things I need. I furnished my entire house with free items from Craigslist including several couches, tables, and outdoor furniture. And they are nice items. No one would know they were used. If you look closely enough, they will turn up. You just have to have the means to pick up the items. I have an old minivan I use.

@JimmyP wrote:

My wife and I paid off $100,000 student loan debt in 3 years by using the Dave Ramsey snowball method and living frugally.

For gas, I have someone else's Costco card to use (Costco gift cards can also be used without a membership), Sam's Club gas access through Walmart+, and Shell discounts through T-Mobile.

Hm, Dave Ramsey. I think he rubs some the wrong way, but overall, his general messaging is good, to at least stay out of consumer debt.

Keep that Costco cash card gas thing on the down low! They may start enforcing that more heavily now.

Edited 1 time(s). Last edit at 10/12/2024 03:08AM by Okie.

it's funny you mention cars - buying and selling....
I only buy them through competitive bidding ( send my requirements to several dealers, narrow that list and then pick up from the one with the lowest, out the door price...I show up with payment etc, etc.)...has worked well for me. I could probably write my method and tips out and sell it lol.
I only sell them privately...I've used the popular sites for selling.
and of course, I buy mostly for utility and reliability.....but that's a whole other discussion...consumerism, trends, fashion, marketing etc

Nice! I've sold my cars using Craigslist and FB Marketplace.

@BarefootBliss wrote:

it's funny you mention cars - buying and selling....
I only buy them through competitive bidding ( send my requirements to several dealers, narrow that list and then pick up from the one with the lowest, out the door price...I show up with payment etc, etc.)...has worked well for me. I could probably write my method and tips out and sell it lol.
I only sell them privately...I've used the popular sites for selling.
and of course, I buy mostly for utility and reliability.....but that's a whole other discussion...consumerism, trends, fashion, marketing etc

For how long can you live without... A car? Television and other entertainment (via paid services)? Salon services? Fresh supply of clothing, food, cleaning services, restaurant visits, and expensive coffee? The booze, bakery, and gourmet items? Exactly how long can you make one razor blade and one tube of toothpaste last?

@Shop-et-al wrote:

For how long can you live without... A car? Television and other entertainment (via paid services)? Salon services? Fresh supply of clothing, food, cleaning services, restaurant visits, and expensive coffee? The booze, bakery, and gourmet items? Exactly how long can you make one razor blade and one tube of toothpaste last?

In certain ways, I've been challenging myself with some of the items you mentioned. Abstaining from the car and electronics have been difficult!

Maybe this falls under side gigs, but recently came across a used DSLR someone gave to me for free. I've been using it recently for photos of autumn themed displays at places like shopping malls, arboretums, and neighborhoods with their permission. I've been posting some of the stock photos online (I don't really get into editing), but someone suggested to me to sell them online.

For those who have the equipment and are interested, this might also be a good way to earn extra money. I know one person who does it full time and books weddings, holidays, school photos, and other special events. Just throwing it out there.

@Shop-et-al wrote:

For how long can you live without... A car? Television and other entertainment (via paid services)? Salon services? Fresh supply of clothing, food, cleaning services, restaurant visits, and expensive coffee? The booze, bakery, and gourmet items? Exactly how long can you make one razor blade and one tube of toothpaste last?

Lets see...
I managed 6 months without a car and only begging rides from my son. I won't put myself in a situation where I can't get home. So it was either ride with my son or stay home, and I stayed home a LOT.
Going on 9 years with only broadcast (antennae) tv, there is no cable or broadband internet available where I live. I rotate streaming services, I pay for Hulu one month, paramount plus, the next, and then peacock, and I pay for prime every month, but I get more than just TV shows from them. I buy clothing when it's on clearance, I almost never pay more than $5 for any single items of clothing. I buy harem pants when a pair wears out, I've replaced the elastic in one pair twice, and once in another pair. My son lost ALL of my pants at the Laundromat one time and I had to spend $100 twice to get them all back. I have never paid anybody to clean my house or my clothing. I wouldn't eat at restaurants at all except for mystery shopping. I spend $50 every other month for two 3 lb bags of specialty coffee. I have only been to a bakery that wasn't a donut shop twice in my life, neither of those times has been in the last 20 years. I don't shave, I never have, I am a virtually hairless person except for the hair on my head, so I have never purchased razors for myself. And I have made, I think it was a 2 oz tube of toothpaste, last for a full year. I haven't had to purchase toothpaste in Alabama, and I have been here for nearly 9 years.

Morledzep, you are a trooper!

Morled - your son losing all your pants at a laundromat? Are you sure he didn't do it on purpose because he hated them for some reason? You had me chuckling.

@Equine24 wrote:

Morled - your son losing all your pants at a laundromat? Are you sure he didn't do it on purpose because he hated them for some reason? You had me chuckling.

No he didn't do it on purpose.. or at least that's what he said. I still had blue jeans and some dresses to wear, but I live in harem pants. If my son doesn't like them he is perfectly welcome to move to MN and live with Cin and Samantha.

For giggles, I briefly looked for images of harem pants for all types (because I would never look like Barbara Eden as Jeannie). Found a large range of price points-- $12.99 at Murices to $3495.00 at Bergdorf G. I could safely try them for $3.99 or less at thrift store prices...

Harempants.com. My favorites are the 100% cotton tie dyed pants.