DHP Financial post of the week: Cutting out the fat

[imported_Gman]

Another way to increase the amount of money you have is to cut your expenses. If you really examine your expenses carefully you will see places you are just throwing good money away.

Just a few things to look at:

1. Eating out to much
2. Overbuying clothing (Goodwill just loves you)
3. Sinking too much money into your house. Houses can be money pits if you are not careful.
4. Extra options on things like your cable\telephone service that you don't need
5. Failing to shop around to get the best price for purchases. Also not buying the best product for your money. I suggest a online subscription to Consumer Reports

More suggestions please ???

[Cheddar]

Originally posted by Gman:
Another way to increase the amount of money you have is to cut your expenses. If you really examine your expenses carefully you will see places you are just throwing good money away.

Just a few things to look at:

1. Eating out to much
2. Overbuying clothing (Goodwill just loves you)
3. Sinking too much money into your house. Houses can be money pits if you are not careful.
4. Extra options on things like your cable\telephone service that you don't need
5. Failing to shop around to get the best price for purchases. Also not buying the best product for your money. I suggest a online subscription to Consumer Reports

More suggestions please ??? Buying drinks at parties. HAHA just kidding.

Seriously to add to #1, I dont eat out for lunch more than once every two weeks, I have noticed that I was spending 40 or so bucks a week...I was always throwing away food I supposed to cook and carry so spending twice..eating once.

[mdpm99]

following all of the above faithfully......

d

ps.

TRADITIONAL CAPITALISM:
You have two cows.
You sell one and buy a bull.
Your herd multiplies, and the economy grows.
You sell them and retire on the income.

ENRON VENTURE CAPITALISM:
You have two cows. You sell three of them to your publicly listed
company, using letters of credit opened by your brother-in-law at the bank,
then execute a debt/equity swap with an associated general offer so that
you get all four cows back, with a tax exemption for five cows.

The milk rights of the six cows are transferred via an intermediary to
a Cayman Island company secretly owned by the majority shareholder who
sells the rights to all seven cows back to your listed company.

The annual report says the company owns eight cows, with an option on
one more. Sell one cow to buy a new president of the United States,
leaving you with nine cows. No balance sheet provided with the release.

The public buys your bull.

AN AMERICAN CORPORATION
You have two cows. You sell one, and force the other to produce the
milk of four cows. You are surprised when the cow drops dead.

A FRENCH CORPORATION
You have two cows. You go on strike because you want three cows.

A JAPANESE CORPORATION
You have two cows. You redesign them so they are one-tenth the size of
an ordinary cow and produce twenty times the milk. You then create clever
cow cartoon images called Cowkimon and market them Worldwide.

A GERMAN CORPORATION
You have two cows. You reengineer them so they live for 100 years, eat
once a month, and milk themselves.

A BRITISH CORPORATION
You have two cows. Both are mad.

AN ITALIAN CORPORATION
You have two cows, but you don't know where they are. You break for
lunch.

A RUSSIAN CORPORATION
You have two cows. You count them and learn you have five cows. You
count them again and learn you have 42 cows. You count them again and learn
you have 12 cows. You stop counting cows and open another bottle of vodka.

A SWISS CORPORATION
You have 5000 cows, none of which belong to you. You charge others for
storing them.

A HINDU CORPORATION
You have two cows. You worship them.

A CHINESE CORPORATION
You have two cows. You have 300 people milking them. You claim full
employment, high bovine productivity, and arrest the newsman who
reported the numbers.

A WELSH CORPORATION
You have two cows. That one on the left is kinda cute

[ July 30, 2003, 07:52 AM: Message edited by: david mancuso ]

[Leslie]

Originally posted by Gman:
[5. Failing to shop around to get the best price for purchases. Also not buying the best product for your money. I suggest a online subscription to Consumer Reports

More suggestions please ??? [/QB]Gman is there another site similar to CR that alos does non-partisan comparisons of products?

Agreed on this point - get the model number and shop the internet for the prdouct you are looking for in addition to shopping around in traditional stores. I have a lot of friends who got top notch products (such as Kohler) for less by doing such when they were doing renovations on their houses. There are quite a few sites that offer top name brands at discount prices and will even offer free shipping when spending a certain amount. It can be a pain to shop around but if you are looking to get the most for your money its worth the investment of time and energy.

[imported_Gman]

Originally posted by Leslie:
Gman is there another site similar to CR that alos does non-partisan comparisons of products?

Probably but I don't know who they are.

[mhd]

Originally posted by Gman:
</font><blockquote>quote:</font><hr />Originally posted by Leslie:
Gman is there another site similar to CR that alos does non-partisan comparisons of products?

Probably but I don't know who they are. </font>[/QUOTE]at a minimum, you could google the item and get hits, invaribly you would get an epinion which would compare prices then you could read reviews by users, i do this with everything i purchase

[Wild i]

For the last year I've been keeping a spreadsheet of my income/outgo in the hopes of, a) paying off bills and, 2)getting a handle on my spending. Right now it just lists my "hard" bills but I'm planning on expanding it to include the "soft" expenditures as well (such as lunch, newpaper, candy/mints/gum). I find seeing it in print makes it easier to understand and manage. I've also added interest calculations so that I can see exactly when it will be paid off. Now, I'm poor at math so my calculations are not exact, but they are pretty darned close (usually within a dollar). In fact, it's worked so well that I've duplicated the layout for business expenses here at work.

If anyone wants to give it a try, I'd be happy to e-mail you a template.

P.S. I've paid off 4 cards since I started and plan on paying off the last 2 in the next month. graemlins/grinyes.gif

[The Buddy Love Show]

For a two week period keep an accounting of all expenditures...you would be shocked at where your money goes ( and how much of it)

way to go wild i

[ July 30, 2003, 09:57 AM: Message edited by: St Magus the Reviled ]

[imported_Gman]

Originally posted by Wild i:
P.S. I've paid off 4 cards since I started and plan on paying off the last 2 in the next month. graemlins/grinyes.gif AR15firing.gif graemlins/OLA.gif

[GROOVE VICTIM]

This is what I have to keep reminding myself at the beginning of every month:


GROCERY SHOPPING!!!!!!!!!!!!!!!!!

Why spend 5 to 6 bucks on a dinner or lunch that will last one day, when you can spend that same amount on a pack of ground beef and some bread, and will last you an entire week (this is if there's less than three people in your household).


IF YOU'RE PRE-APPROVED FOR A CREDIT CARD, RIP IT UP!!!!!!!!!!!!!!!!

Why add another BILL to your monthly expenses? Free up 50 to 100 bucks a month and put it into your savings.

SLOW YO ASSS DOWN, and DO YOU REALLY NEED THE AIR CONDITIONER ON WHILE DRIVING?

Get up earlier for work, and open up the rear window and let the air hit you as you drive.

WHY BOTHER WITH A SLOWER CONNECTION AT HOME WHEN YOU HAVE A T-1 AT WORK?

This is one of the reasons why I don't have internet at home.

MAKE A PLAN AND STICK TO IT!!!!!!!

By 2005 I want to have 800 to 850 dollars of disposable income. In order for me to accomplish this, I will need to pay off all of my credit card debt. THIS WILL HAPPEN. I knocked off 3000 bucks in 6 months so there's no excuse.


Peace

[imported_Gman]

Originally posted by St Magus the Reviled:
For a two week period keep an accounting of all expenditures...you would be shocked at where your money goes ( and how much of it)

way to go wild i That is the best way to get a hold of the beast. I did this for about a month and was surprised indeed. It provided me the areas I needed to target in terms of wasteful spending. Again the biggest deal for me is cutting back on the amount I spend on food. I tend to overbuy on groceries and then have a lot of things spoil.

[Leslie]

Do what works for you as oppossed to what works for everyone else. We all have our own unique situations and there are ways to cut out the unecessary spending in everyone's life. The key is to do what works best for you and then you will stick to it. There is no sense going on some ultra strict spending lifestyle that will leave you unsatisfied and more apt to blow money as a form of "reward". You can have it all within reason and accomplish your financial goals without living on "bread and water" so to speak.

[richierich]

Financial responsibility has always been one of my achilles heels. I act like I'm always gonna get some more money when indeed this does not have to be the case. Definitely an area that I need to work on.

[AD]

Gman,

This may sound stupid, but one of the things that I've been doing for the past six years has been to NEVER use coins for purchases. If something costs $2.10 and I clearly have a dime in my pocket, I don't use it. I break a dollar bill to pay for the remainder that has gone over the two dollars and I save all the change I get and put it into a bucket at home. At the end of the month, I'd take it to the bank and I'd end up with $20-$50 which used to get put into my IRA account, but times have been tough for me lately so now I use it for gas money or other important things. Try it for exactly one month and you'll be surprised at what you can have when the month is over. It takes some getting used to, but it keeps you from spending more money than you should. In fact, I was able to stock up a lot on Sun Microsystems, Cisco Systems, and Applied Materials stock because of this. Try it...it works. That's Albert D's tip of the day. ;)

[ July 30, 2003, 10:44 AM: Message edited by: Albert Diaz ]

[Kenrick _]

Originally posted by Wild i:

If anyone wants to give it a try, I'd be happy to e-mail you a template.

wild, kenrickbryan@optonline.net .

thank you in advance and congratulations on paying them off.

i also have a spreadsheet myself that basically my bank book checking account registry. it is always on point up to the current date. i also have it rolled out a few months ahead with my recurring bills (over estimated) and income (underestimated) to give me a fair estimate of where i will be... i have the column that represents my checking balance conditionally formatted to display in red bold text if i am estimated to go under a certain amount.

in addition to that i seriously need to get tedious on every cent i spend though.

good post G-

me

[imported_Gman]

Originally posted by Albert Diaz:
Gman,

This may sound stupid, but one of the things that I've been doing for the past six years has been to NEVER use coins for purchases. If something costs $2.10 and I clearly have a dime in my pocket, I don't use it. I break a dollar bill to pay for the remainder that has gone over the two dollars and I save all the change I get and put it into a bucket at home. At the end of the month, I'd take it to the bank and I'd end up with $20-$50 which used to get put into my IRA account, but times have been tough for me lately so now I use it for gas money or other important things. Try it for exactly one month and you'll be surprised at what you can have when the month is over. It takes some getting used to, but it keeps you from spending more money than you should. In fact, I was able to stock up a lot on Sun Microsystems, Cisco Systems, and Applied Materials stock because of this. Try it...it works. That's Albert D's tip of the day. ;) Albert, I guess I'm stupid because I do this for the most part. Any change that I have goes into the change box. It used to be the change jug (glass) until it got full once and I tried picking it up and the bottom fell out :D Every so often I take the change box into the bank and have it deposited to my saving account. THe most I think I had was $454 at one time.

-G

[ July 30, 2003, 10:49 AM: Message edited by: Gman ]

[AD]

Originally posted by Kenrick _:

good post G-

agreed.

[Kenrick _]

Originally posted by Albert Diaz:
Gman,

This may sound stupid, but one of the things that I've been doing for the past six years has been to NEVER use coins for purchases. If something costs $2.10 and I clearly have a dime in my pocket, I don't use it. I break a dollar bill to pay for the remainder that has gone over the two dollars and I save all the change I get and put it into a bucket at home. At the end of the month, I'd take it to the bank and I'd end up with $20-$50 which used to get put into my IRA account, but times have been tough for me lately so now I use it for gas money or other important things. Try it for exactly one month and you'll be surprised at what you can have when the month is over. It takes some getting used to, but it keeps you from spending more money than you should. In fact, I was able to stock up a lot on Sun Microsystems, Cisco Systems, and Applied Materials stock because of this. Try it...it works. That's Albert D's tip of the day. ;) i do the same thing albert. i never spend my change. and when i do laundry i buy quarters from myself and over charge myself (i pay my change can $7 for $5 worth of quarters for example).

the only difference here is that i use the money at he end of the year to buy myself something instead of investing. biggrinangel.gif

[Fletch]

No more jazz and house records. You already have 750 of them! :D

No more basses. You already have four basses and three amps. :D

No more eating out for lunch. Buy two weeks of food for the house. :D

Turn the lights OUT just in case you fall asleep at night. :D

Stop partying EVERY Friday. :D

v.

I still need to take my shirts ($15/week) and pants to the cleaners ($20/week)

I still have to fix my shoes ($40/pair for thick soles--I wear mine out quick!).

I need to call my creditcard companies and ask to lower their astronomical interest rates. graemlins/jpshakehead.gif

I still have to pay my bills. graemlins/jpshakehead.gif

[ July 30, 2003, 10:56 AM: Message edited by: einnod23 ]

[AD]

Originally posted by Gman:
</font><blockquote>quote:</font><hr />Originally posted by Albert Diaz:
Gman,

This may sound stupid, but one of the things that I've been doing for the past six years has been to NEVER use coins for purchases. If something costs $2.10 and I clearly have a dime in my pocket, I don't use it. I break a dollar bill to pay for the remainder that has gone over the two dollars and I save all the change I get and put it into a bucket at home. At the end of the month, I'd take it to the bank and I'd end up with $20-$50 which used to get put into my IRA account, but times have been tough for me lately so now I use it for gas money or other important things. Try it for exactly one month and you'll be surprised at what you can have when the month is over. It takes some getting used to, but it keeps you from spending more money than you should. In fact, I was able to stock up a lot on Sun Microsystems, Cisco Systems, and Applied Materials stock because of this. Try it...it works. That's Albert D's tip of the day. ;) Albert, I guess I'm stupid because I do this for the most part. Any change that I have goes into the change box. It used to be the change jug (glass) until it got full once and I tried picking it up and the bottom fell out :D Every so often I take the change box into the bank and have it deposited to my saving account. THe most I think I had was $454 at one time.

-G </font>[/QUOTE]Good! Put that shizzo in an IRA or at least a money market fund which you can withdraw from if needed. On average, a money market fund will pay 4% to 6% while the measly savings account will pay 2% to 4%. The money market fund pays about the same as a bank CD, however, the advantage of a money fund is that it is completely liquid. Unlike the CD, which is locked in for a specific amount of time before you can withdraw anything, you can sell your shares in a money fund at any time and many (if not all) offer the ability to write checks. Lay off the savings accounts cause they don't pay anything.

[GROOVE VICTIM]

I watched Suze Orman this weekend and she gave some great advise.

Go into your closet and pull out all of the clothes and shoes that you know for a fact that you purchased with a credit card. If you haven't used any article of clothing for atleast 6 months, give it to charity.


Well I went though my entire apartment and found out that atleast 95 percent of my records, tapes and CDs were purchased with cash. All of my clothes with the exception of a few jeans were purchased with cash. All of my DJ equipment including the console was purchased with cash. My VCR, television, and Stereo and DVD player, all purchased with cash. About 90 percent of my DVDs, purchased with cash.

Then I had to ask myself, WHAT IN D HAIL DID YOU DO??????? Then I looked outside and saw my car. Stereo, woofers, 6x9s, amp, front door speakers, gas, all payed with credit. Lil Groove's clothes and furniture for when he was first born, dining out, trips to NYC, D.C., groceries, some records and CDs, all racked up on my credit cards. Talk about a wake up call.


Peace

[Kenrick _]

Originally posted by einnod23:
I need to call my creditcard companies and ask to lower their astronomical interest rates. graemlins/jpshakehead.gif try a credit union. if you direct deposit a portion of your pay check to a savings account with one each pay period they will often times work with you.

mine just gave me loan with a nice interest rate to start my little part time mobile dj sole propiertership. smile.gif i am paying them back each month directly from my savings account that i have with them.

[Kenrick _]

albert, or anyone,

what money market account(s) do you reccomend?

any links will be greatly apreciated.

[imported_Gman]

Again I am not talking about going on some super ultra spending diet. I am talking about cutting out the waste where we are just throwing money away. Now impulsive buying fits under this waste category. Now for the things that I buy that I have not done research on, what I do is if I am out shopping and I see something I want I will not buy it right then. I will take one day to think about it reasoning that if I really want it I will come back tomorrow and get it. Well guess what more often than not I never come back to get it. Salesmen just hate me. They think they got the sale then I tell them my rule. smile.gif

-G

[mhd]

Originally posted by Albert Diaz:
Gman,

This may sound stupid, but one of the things that I've been doing for the past six years has been to NEVER use coins for purchases. If something costs $2.10 and I clearly have a dime in my pocket, I don't use it. I break a dollar bill to pay for the remainder that has gone over the two dollars and I save all the change I get and put it into a bucket at home. At the end of the month, I'd take it to the bank and I'd end up with $20-$50 which used to get put into my IRA account, but times have been tough for me lately so now I use it for gas money or other important things. Try it for exactly one month and you'll be surprised at what you can have when the month is over. It takes some getting used to, but it keeps you from spending more money than you should. In fact, I was able to stock up a lot on Sun Microsystems, Cisco Systems, and Applied Materials stock because of this. Try it...it works. That's Albert D's tip of the day. ;) how long ago were you buying sun and cisco?

[darrow]

I think these threads financial threads are some of the best threads on DHP.

Here's one...product rebates. If you buy a product that offers a rebate, TAKE ADVANTAGE OF THE REBATE! I read an article once about how people buy products because they offer a rebate but then they don't actually send in the forms to get the rebates. The product company wins because you've bought the product but were either too lazy or too confused by the rebate form and requirements to actually send it in. For instance, I recently bought a router for my home network priced at $49. There was a product rebate for $40! I sent that sucker in fast.

There have been problems with many companies sending the rebates too slowly or making the process very confusing. I believe the FTC was once looking into the issue.

[ July 30, 2003, 11:14 AM: Message edited by: darrow ]

[imported_Gman]

Originally posted by Albert Diaz:
</font><blockquote>quote:</font><hr />Originally posted by Gman:
</font><blockquote>quote:</font><hr />Originally posted by Albert Diaz:
Gman,

This may sound stupid, but one of the things that I've been doing for the past six years has been to NEVER use coins for purchases. If something costs $2.10 and I clearly have a dime in my pocket, I don't use it. I break a dollar bill to pay for the remainder that has gone over the two dollars and I save all the change I get and put it into a bucket at home. At the end of the month, I'd take it to the bank and I'd end up with $20-$50 which used to get put into my IRA account, but times have been tough for me lately so now I use it for gas money or other important things. Try it for exactly one month and you'll be surprised at what you can have when the month is over. It takes some getting used to, but it keeps you from spending more money than you should. In fact, I was able to stock up a lot on Sun Microsystems, Cisco Systems, and Applied Materials stock because of this. Try it...it works. That's Albert D's tip of the day. ;) Albert, I guess I'm stupid because I do this for the most part. Any change that I have goes into the change box. It used to be the change jug (glass) until it got full once and I tried picking it up and the bottom fell out :D Every so often I take the change box into the bank and have it deposited to my saving account. THe most I think I had was $454 at one time.

-G </font>[/QUOTE]Good! Put that shizzo in an IRA or at least a money market fund which you can withdraw from if needed. On average, a money market fund will pay 4% to 6% while the measly savings account will pay 2% to 4%. The money market fund pays about the same as a bank CD, however, the advantage of a money fund is that it is completely liquid. Unlike the CD, which is locked in for a specific amount of time before you can withdraw anything, you can sell your shares in a money fund at any time and many (if not all) offer the ability to write checks. Lay off the savings accounts cause they don't pay anything. </font>[/QUOTE]Yes I have a money market account that I use for my emergency fund. The first step before money gets transfered up there is for me to put it in my saving account. Thanks for the advice. Lately money market funds have only been paying around 1% but you are right on the average they do pay a lot better than bank savings accounts.

-G

[darrow]

What money market accounts are paying 4 to 6 percent? Mine started out at 4% last year and is down to about 1 to 2%. If there's an account out there paying 4 to 6 percent, please point me in that direction.

Here's a site that lists the top yielding money market accounts - http://www.bankrate.com/brm/rate/mmmf_highratehome.asp You can choose to see rates across the country or in a given state.

[GROOVE VICTIM]

I've been reading up on Money Market accounts and because interests rates have been cut, I've been reading that these interest bearing accounts aren't really a hot issue because of the low interest rates. But like GMAN stated, they're way better than a typical savings account.

Anyone know any Money Market accounts where you don't need a minimum of $10,000? I sure as hell don't have that kind of money.


By the time I knock out my third credit card I want to open up an IRA account. When Suze Orman says that you can have close to 2 million dollars by the time you retire if you put in atleast 250 bucks a month, I'm all ears.


Peace

[imported_Gman]

Originally posted by GROOVE VICTIM:
I watched Suze Orman this weekend and she gave some great advise.

You forgot to mention it was free great advise. People don't realize that you normally would have to pay for advice like what she gives out on her show. ;)

[darrow]

Originally posted by GROOVE VICTIM:


Anyone know any Money Market accounts where you don't need a minimum of $10,000? I sure as hell don't have that kind of money.

Groove, go to that link in my previous response. You'll see the interest rate they are offering as well as the minimum deposit requirements.

[imported_Gman]

Originally posted by GROOVE VICTIM:
I've been reading up on Money Market accounts and because interests rates have been cut, I've been reading that these interest bearing accounts aren't really a hot issue because of the low interest rates. But like GMAN stated, they're way better than a typical savings account.

Anyone know any Money Market accounts where you don't need a minimum of $10,000? I sure as hell don't have that kind of money.


By the time I knock out my third credit card I want to open up an IRA account. When Suze Orman says that you can have close to 2 million dollars by the time you retire if you put in atleast 250 bucks a month, I'm all ears.


Peace Check out Vanguard, Fidelity or Troweprice's websites. They should have money market funds with like $3000 minumum initial investments

-G

[ July 30, 2003, 11:29 AM: Message edited by: Gman ]

[AD]

Originally posted by Kenrick _:
albert, or anyone,

what money market account(s) do you reccomend?

any links will be greatly apreciated.
I can't recommend one single fund to you because it depends on what your short term or long term goals are, but do some research on this subject and I'm sure you will find one that meets your needs. Personally, I use Vanguard for all of my all my investment needs and I highly recommend them, but I would also recommend T.Rowe Price or Fidelity. Here are a few links that may help you:

Vanguard Funds (http://flagship3.vanguard.com/VGApp/hnw/FundsByFundType)

Fidelity Funds (http://www.fidelity.com/)

T.Rowe Price Funds (http://www.troweprice.com/common/gcDefault/0,2955,lnp%3D10094%26cg%3D910%26pgid%3D7180,00.htm l)

Morningstar (http://www.morningstar.com/Cover/Funds.html?topnav=funds) Register on this site and get yourself a wealth of information.

IBCData.com (http://www.ibcdata.com/mfs/index.htm) This site helps you choose a MMA based on the criteria you enter.

Hope that helps.

[ July 30, 2003, 11:32 AM: Message edited by: Albert Diaz ]

[AD]

Originally posted by Gman:
</font><blockquote>quote:</font><hr />Originally posted by GROOVE VICTIM:
I've been reading up on Money Market accounts and because interests rates have been cut, I've been reading that these interest bearing accounts aren't really a hot issue because of the low interest rates. But like GMAN stated, they're way better than a typical savings account.

Anyone know any Money Market accounts where you don't need a minimum of $10,000? I sure as hell don't have that kind of money.


By the time I knock out my third credit card I want to open up an IRA account. When Suze Orman says that you can have close to 2 million dollars by the time you retire if you put in atleast 250 bucks a month, I'm all ears.


Peace Check out Vanguard, Fidelity or Troweprice's websites. They should have money market funds with like $3000 minumum initial investments

-G </font>[/QUOTE]I see that you have chosen the same three fund families as me. Good choice! Great minds think alike. ;)

[imported_Gman]

Originally posted by GROOVE VICTIM:
I've been reading up on Money Market accounts and because interests rates have been cut, I've been reading that these interest bearing accounts aren't really a hot issue because of the low interest rates. But like GMAN stated, they're way better than a typical savings account.

Anyone know any Money Market accounts where you don't need a minimum of $10,000? I sure as hell don't have that kind of money.


By the time I knock out my third credit card I want to open up an IRA account. When Suze Orman says that you can have close to 2 million dollars by the time you retire if you put in atleast 250 bucks a month, I'm all ears.


Peace Groove before doing the IRA will you have a buffer of 6-8 months of expenses set aside in something like a money market fund biggrinangel.gif

[Kenrick _]

thank you for the links albert and darrow.

[Martin Red]

anyone mention Records
smoking
hiring videos
watching TV / having a TV in UK costs us £100 a year for a license
and then there is the electrical products loop, something you own will always stop working when you least expect it, cha ching.

Also, I think you have to be very strong or just don't expect to socialise all the time with people on a different pay bracket, e.g I was on similiar to a friend and we used to go out a similiar ammount of times per week/month, he got huge payrise, now they forget why I don't go out every night...

[ July 30, 2003, 11:51 AM: Message edited by: Martin Red ]

[imported_Gman]

Originally posted by Martin Red:
watching TV / having a TV in UK costs us £100 a year for a license
You have to have to pay for a license to watch regular broadcast TV ? I hope there are no commercials then. graemlins/jpshakehead.gif

[Martin Red]

Originally posted by Gman:
</font><blockquote>quote:</font><hr />Originally posted by Martin Red:
watching TV / having a TV in UK costs us £100 a year for a license
You have to have to pay for a license to watch regular broadcast TV ? I hope there are no commercials then. graemlins/jpshakehead.gif </font>[/QUOTE]£100 a year for BBC1 and BBC2 (mainly repeat shows). also, the first two stations back in the day.

Then, Channel 3(regional TV), Channel4 (which Pump up the volume was on) graemlins/thumbsup.gif , and channel5, these three stations are allowed to have commercials to fund them.

*************************************************
TERRESTRIAL TV = 5 channels
Then if you get cable (add £$ for cable fee), you still have to pay the $100/ $170 license fee even if you never watch BBC
*************************************************


If BBC 1 and two had commercials (apart for ones for BBC), we wouldn't have to pay £100 a year to own a TV set.

more;- http://www.museum.tv/archives/etv/L/htmlL/licensefee/licensefee.htm

___________________________________

BBC Accused of Pro-EU Bias
By Mike Wendling
CNSNews.com London Bureau Chief
November 29, 2002

London (CNSNews.com) - A loose collection of British journalists and media watchers has accused the BBC of bias in coverage of European issues, a claim that the U.K.'s largest broadcasting company denies.

The campaigners are led by Vladimir Bukovsky, a former Soviet dissident who was once held as a political prisoner and who compares the European Union to his former jailers.

Bukovsky's website urges people to stop paying Britain's statutory television license fee. The fee amounts to about $170 per year for households with color TVs and is the main source of the BBC's operating income.

David Lott, a spokesman for the BBC Bias campaign, said the campaign was aimed at the corporation's domestic broadcasting services, including two television stations and five radio networks.

Lott said the corporation has given scant coverage to commentators and activists opposed to further British involvement in the European Union and Europe's single currency, the euro.

"The BBC, as a public service broadcaster with a royal charter, is required to report across the spectrum of ideas," he said. "In our view, it is not meeting the terms of its charter."............

http://www.conservativenews.org/ForeignBureaus/archive/200211/FOR20021129a.html


£100 a year for Fame Academy graemlins/puke.gif

[ July 30, 2003, 02:58 PM: Message edited by: Martin Red ]

[GROOVE VICTIM]

Originally posted by Gman:
</font><blockquote>quote:</font><hr />Originally posted by GROOVE VICTIM:
I've been reading up on Money Market accounts and because interests rates have been cut, I've been reading that these interest bearing accounts aren't really a hot issue because of the low interest rates. But like GMAN stated, they're way better than a typical savings account.

Anyone know any Money Market accounts where you don't need a minimum of $10,000? I sure as hell don't have that kind of money.


By the time I knock out my third credit card I want to open up an IRA account. When Suze Orman says that you can have close to 2 million dollars by the time you retire if you put in atleast 250 bucks a month, I'm all ears.


Peace Groove before doing the IRA will you have a buffer of 6-8 months of expenses set aside in something like a money market fund biggrinangel.gif </font>[/QUOTE]Eight Month Emergency fund. I calculated the amount I would need a few months ago minus cable, cell phone and other expendetures. I'd figure I'd start putting some money away in October because I will no longer have a car payment, but at the same time I want to get rid of all this debt I owe. Getting rid of the debt is a priority.

Peace

[Gojay]

Great thread GMan!

You could search the net for days and not get half of what was given here!

Thank you people of DHP.

peace,
gojay

[MC]

I finally got my damn money from selling some property that I inherited. I have already paid all my debt, thank god. I didn't have much, but those petty bills are gone forever, it was a lesson well learned. It feel so good....Now all I have to pay is my living expenses like gas, water, electricity, etc. This is the most amount of money that I ever had at one time, I plan on being very careful with it. I kinda want to forget that I ever got it, and just keep stacking up my chips biggrinangel.gif

[ July 30, 2003, 03:32 PM: Message edited by: Michael J. Carmona ]

[Erob the One]

The best way to build wealth is to continue the discussion like this one. We are all pretty internet savvy, so shop around for your next purchase. I was able to save quite a bit of money on my new house by buying things on my own instead of the builder buying them. Example, I bought a range hood from California on the net with free shipping and saved over $300. I also got some dope light fixtures and bathroom fixtures that weren't available locally. G, I have to disagree with your first point about sinking money into a house. Right now, real estate is a pretty solid investment. So as long as the money you sink into your home is related to repairs or improvements then your property value will increase. Just don't sink your money into a new living room set! By the way, if anyone lives in a house that hasn't appreciated - move immediately. The market is prime for high value homes with equity.
Good thread.
Erob

[mhd]

Originally posted by Erob the One:
The best way to build wealth is to continue the discussion like this one. We are all pretty internet savvy, so shop around for your next purchase. I was able to save quite a bit of money on my new house by buying things on my own instead of the builder buying them. Example, I bought a range hood from California on the net with free shipping and saved over $300. I also got some dope light fixtures and bathroom fixtures that weren't available locally. G, I have to disagree with your first point about sinking money into a house. Right now, real estate is a pretty solid investment. So as long as the money you sink into your home is related to repairs or improvements then your property value will increase. Just don't sink your money into a new living room set! By the way, if anyone lives in a house that hasn't appreciated - move immediately. The market is prime for high value homes with equity.
Good thread.
Erob tight post, which sites did you use for the fixtures that you purchased?

[Erob the One]

Use google and yahoo search and put bathroom fixtures or light fixture in it. I got some pretty good hits.

Erob

[GrantB]

Originally posted by GROOVE VICTIM:
I watched Suze Orman this weekend and she gave some great advise.

Go into your closet and pull out all of the clothes and shoes that you know for a fact that you purchased with a credit card. If you haven't used any article of clothing for atleast 6 months, give it to charity.
....
Peace GIVE THEM AWAY TO CHARITY?!?!?!??!??!??!

What kind of financial advice is that?

SELL any clothes you aren't using to used clothing stores, and then donate what the shops won't buy.

I walk with $50-$100 every time I clean out the closet.
graemlins/thumbsup.gif

[mhd]

Originally posted by Erob the One:
Use google and yahoo search and put bathroom fixtures or light fixture in it. I got some pretty good hits.

Erob of course, thanks

[Ronnie Ron]

Originally posted by Gman:
</font><blockquote>quote:</font><hr />Originally posted by Albert Diaz:
Gman,

This may sound stupid, but one of the things that I've been doing for the past six years has been to NEVER use coins for purchases. If something costs $2.10 and I clearly have a dime in my pocket, I don't use it. I break a dollar bill to pay for the remainder that has gone over the two dollars and I save all the change I get and put it into a bucket at home. At the end of the month, I'd take it to the bank and I'd end up with $20-$50 which used to get put into my IRA account, but times have been tough for me lately so now I use it for gas money or other important things. Try it for exactly one month and you'll be surprised at what you can have when the month is over. It takes some getting used to, but it keeps you from spending more money than you should. In fact, I was able to stock up a lot on Sun Microsystems, Cisco Systems, and Applied Materials stock because of this. Try it...it works. That's Albert D's tip of the day. ;) Albert, I guess I'm stupid because I do this for the most part. Any change that I have goes into the change box. It used to be the change jug (glass) until it got full once and I tried picking it up and the bottom fell out :D Every so often I take the change box into the bank and have it deposited to my saving account. THe most I think I had was $454 at one time.

-G </font>[/QUOTE]you can buy one of those water jugs from the water thingy we all use at work for about 5.00 if you see the water man, they hold a lot of change and you would be surprised how much money you saved once you cash it in.

I went to cash mine in about a year ago and i had about two inches worth of quarters, dimes and nicels and it came to like 800.00 hell thats a vacation... :eek:

R-R

[ July 30, 2003, 05:15 PM: Message edited by: RonnieRon ]

[imported_Gman]

Originally posted by Erob the One:
G, I have to disagree with your first point about sinking money into a house. Right now, real estate is a pretty solid investment. So as long as the money you sink into your home is related to repairs or improvements then your property value will increase. Just don't sink your money into a new living room set! By the way, if anyone lives in a house that hasn't appreciated - move immediately. The market is prime for high value homes with equity.
Good thread.
Erob Erob, I was not talking about normal repairs and "reasonable" improvements on your house. But where do you stop. It is very easy to go overboard with these improvements to the point where it sucks up all your extra cash and the additional value\equity diminishes. The Home Improvement industry is huge and as soon as you buy your home you become a big fat pigeon if you are not careful.

So in general keep your home well maintained and make improvements that make sense for the area where you live. But be careful so that the home won't end up belonging to someone else because we over-extend ourselves by going into debt to make those improvements. Oh yeah they can't take your home if you file bankruptcy, correct?

[imported_Gman]

Originally posted by GROOVE VICTIM:
</font><blockquote>quote:</font><hr />Originally posted by Gman:
</font><blockquote>quote:</font><hr />Originally posted by GROOVE VICTIM:
I've been reading up on Money Market accounts and because interests rates have been cut, I've been reading that these interest bearing accounts aren't really a hot issue because of the low interest rates. But like GMAN stated, they're way better than a typical savings account.

Anyone know any Money Market accounts where you don't need a minimum of $10,000? I sure as hell don't have that kind of money.


By the time I knock out my third credit card I want to open up an IRA account. When Suze Orman says that you can have close to 2 million dollars by the time you retire if you put in atleast 250 bucks a month, I'm all ears.


Peace Groove before doing the IRA will you have a buffer of 6-8 months of expenses set aside in something like a money market fund biggrinangel.gif </font>[/QUOTE]Eight Month Emergency fund. I calculated the amount I would need a few months ago minus cable, cell phone and other expendetures. I'd figure I'd start putting some money away in October because I will no longer have a car payment, but at the same time I want to get rid of all this debt I owe. Getting rid of the debt is a priority.

Peace </font>[/QUOTE]Yes getting rid of debt is a good priority,

1. Get rid of all debt
2. 6-8 month emergency fund
3. The question then is it better to start saving for a down payment on a home or start investing in a Roth-IRA\401K at this point ???

[ July 30, 2003, 05:46 PM: Message edited by: Gman ]

[mhd]

Originally posted by GrantB:
</font><blockquote>quote:</font><hr />Originally posted by GROOVE VICTIM:
I watched Suze Orman this weekend and she gave some great advise.

Go into your closet and pull out all of the clothes and shoes that you know for a fact that you purchased with a credit card. If you haven't used any article of clothing for atleast 6 months, give it to charity.
....
Peace GIVE THEM AWAY TO CHARITY?!?!?!??!??!??!

What kind of financial advice is that?

SELL any clothes you aren't using to used clothing stores, and then donate what the shops won't buy.

I walk with $50-$100 every time I clean out the closet.
graemlins/thumbsup.gif </font>[/QUOTE]if you donate to charity you can get a tax deduction for a charitable contribution, the charity gives you a blank receipt and you fill in the value of the items donated, of course this is not advice, just a suggestion

[ July 30, 2003, 05:49 PM: Message edited by: mhd ]

[GrantB]

That sounds like a good suggestion. I need to get on the itemized deduction thing this year and stop doing the 1040a.

[Pete Nice]

car maitenance... learn how to do the basics or find a neighborhood mechanic who'll do it cheaper than the garages. i have a friend who saved good money like this and gotten good work as well. also the local guy has a tendency not blow problems up. it's in his best interest to keep you happy. just a thought outside the box :D

[eileen]

here are the best money-saving things i am doing:

1. using an accountant who is a tax attorney and deals with musicians, artists, etc. he is a godsend, and he has a sliding scale. if you can find someone like this to help you, it is the most fantastic thing in the universe (money-wise).

2. try not to go grocery shopping when i'm hungry.

3. using my bank's online banking to pay bills. no hiding the envelope under a stack of papers and subconsciously *forgetting* about one or two of them, or not having a stamp, or you don't account for something and it hits your balance, etc. i just type in the bill amount and it gets paid automatically.

4. cash budget for daily expenses. trying like hell not to use the atm card. when the cash is gone for the week, it's gone, that's it.

[imported_Kohtake]

Originally posted by david mancuso:

TRADITIONAL CAPITALISM:
You have two cows.
You sell one and buy a bull.
Your herd multiplies, and the economy grows.
You sell them and retire on the income.

ENRON VENTURE CAPITALISM:
You have two cows. You sell three of them to your publicly listed
company, using letters of credit opened by your brother-in-law at the bank,
then execute a debt/equity swap with an associated general offer so that
you get all four cows back, with a tax exemption for five cows.

The milk rights of the six cows are transferred via an intermediary to
a Cayman Island company secretly owned by the majority shareholder who
sells the rights to all seven cows back to your listed company.

The annual report says the company owns eight cows, with an option on
one more. Sell one cow to buy a new president of the United States,
leaving you with nine cows. No balance sheet provided with the release.

The public buys your bull.

AN AMERICAN CORPORATION
You have two cows. You sell one, and force the other to produce the
milk of four cows. You are surprised when the cow drops dead.

A FRENCH CORPORATION
You have two cows. You go on strike because you want three cows.

A JAPANESE CORPORATION
You have two cows. You redesign them so they are one-tenth the size of
an ordinary cow and produce twenty times the milk. You then create clever
cow cartoon images called Cowkimon and market them Worldwide.

A GERMAN CORPORATION
You have two cows. You reengineer them so they live for 100 years, eat
once a month, and milk themselves.

A BRITISH CORPORATION
You have two cows. Both are mad.

AN ITALIAN CORPORATION
You have two cows, but you don't know where they are. You break for
lunch.

A RUSSIAN CORPORATION
You have two cows. You count them and learn you have five cows. You
count them again and learn you have 42 cows. You count them again and learn
you have 12 cows. You stop counting cows and open another bottle of vodka.

A SWISS CORPORATION
You have 5000 cows, none of which belong to you. You charge others for
storing them.

A HINDU CORPORATION
You have two cows. You worship them.

A CHINESE CORPORATION
You have two cows. You have 300 people milking them. You claim full
employment, high bovine productivity, and arrest the newsman who
reported the numbers.

A WELSH CORPORATION
You have two cows. That one on the left is kinda cute graemlins/rofl.gif graemlins/rofl.gif

[imported_Gman]

And for pete's sake keep your car well maintained. Proper maintenance now will save you lots on expensive repair bills later. Get your moneys worth from a car by holding on to it as long as it is running good and doesn't cost you a lot to keep running. Buy cars that have good reliability records that hold their value.

[TAC]

Originally posted by mhd:
</font><blockquote>quote:</font><hr />Originally posted by Erob the One:
Use google and yahoo search and put bathroom fixtures or light fixture in it. I got some pretty good hits.

Erob of course, thanks </font>[/QUOTE]These people are good.

http://www.faucet.com/

We used them doing our house (at least we got the stuff we ordered, and their return policy was great)

[Wild i]

I got a request for the financial template from a "JoeB." I'm not familiar with the name and, frankly, his email addy makes me a little suspicious (something like eatdick).

So JoeB, if you B for real, reply here and I will happily send you the spreadsheet. But if you B trying to put a virus on my newly scrubbed hard drive, I'll have to get my DHP henchmen after you.

[imported_Gman]

Originally posted by eileen:
3. using my bank's online banking to pay bills. no hiding the envelope under a stack of papers and subconsciously *forgetting* about one or two of them, or not having a stamp, or you don't account for something and it hits your balance, etc. i just type in the bill amount and it gets paid automatically.

Yes, I pay the majority of my bills online as well thru my bank. Right now its a free service but I don't think it going to stay free. If the account that I am paying does not accept electronic funds transfer then the bank will actually print the check out and mail if for me. graemlins/OLA.gif

[ July 31, 2003, 07:27 AM: Message edited by: Gman ]

[Fletch]

TRY YOUR BEST to make ATM transactions from your own bank. That $1.50 fee adds up. Peace.

[GROOVE VICTIM]

Originally posted by Gman:
And for pete's sake keep your car well maintained. Proper maintenance now will save you lots on expensive repair bills later. Get your moneys worth from a car by holding on to it as long as it is running good and doesn't cost you a lot to keep running. Buy cars that have good reliability records that hold their value. Great Advice, you should hear the argument my car and I have when I drive it on the Long Island Expressway. He caught a serious attitude when I drove up there on the 4th of July.

"brotha gonna put me in the shop to get my feet worked on and you f_ck it all up by bringing me back up here.........how long have I've known you?"

graemlins/rofl.gif

[Siesta]

[QUOTE]Originally posted by darrow:
[QB] What money market accounts are paying 4 to 6 percent? Mine started out at 4% last year and is down to about 1 to 2%. If there's an account out there paying 4 to 6 percent, please point me in that direction.

Sorry im replying to an old post, but i finnaly was able join the board this week. i have been a lurker for awhile, and its a drag when i cant respond to any of the good posts on here.

check out demand notes from general motors. its a liquid money market account, you only need a $1000 to open an account. it is currently paying 3%. its open to the public. check www.demandnotes.com (http://www.demandnotes.com) i hope this helps. also. since im new, i just wanted to say hi to everyone, i love this message board

[Chris Conrad]

teh car advise is VERY important...i don't know how many people i know who buy a car, sometimes a very expensive one, have no problem making monthly payments, but never open the manual or check under the hood or bother to research the car they bought for any specific needs that car may have. then when it dies two years later, they have no problem calling it a piece of sh*t and makign a scene at the dealer, when they never checked or changed the oil from the day they bought the vehicle...in some europnea countries, part of the driver's test is knowing basic maintenance and parts of a car...most people here are content having some joker at a gas station look at their oil and 'quick lube' do their oil change, often causing more problems with the vehicle. never, ever, let a gas station guy check your oil or add oil...learn to do it yourself. many new cars have very specific oil requirements, and the guy at the corner gas station doesn't know that, he just wants to sell you a urt of oil at an inflated price. gas pumpers ARE NOT MECHANICS!!! and quick lube places often use substandard recycled oil, and frequently overfill or underfill your car, which can cause BIG problems. most basic maintenance on my truck i do myself, and anything i can't do i use a trusted family mechanic and buy my own parts.

[ August 08, 2003, 04:10 PM: Message edited by: Chris Conrad ]