Best ways to save money $

Chuck33079 · 06-15-2016, 06:47 PM

Quote:

Originally Posted by cooltoy

They give credit to anybody in the states. Thus the recent economical crisis. And none in Canada.

Sadly, that's pretty close to the truth.

old guy · 06-15-2016, 07:34 PM

Quote:

Originally Posted by cooltoy

They give credit to anybody in the states. Thus the recent economical crisis. And none in Canada.

cooltoy · 06-15-2016, 07:29 PM

It is kind of an interesting observation.

A bunch of my former coo-workers (me included), are trying to create an oil company and are looking for investors to put money in. Canadian lenders expect a return on all the companies they invest in, so they scrutinize everything much more thoroughly and will not give you money if they perceive any small risk, where as American investors fully expect that 75% of their investments will fail. they are looking for that 25% that wil make them big bucks. Much easier to find investment money in the States.

Mike · 06-17-2016, 08:01 PM

closing credit cards in the states is bad for you. They rate you based on the percentage of balance owed to credit limits, so if you owe 1000 on a 2000 limit card and 0 on another 2000 limit card, they look at it as only a 25% utilization, which will yield a higher credit score than a 50% utilization.

Nixin · 06-17-2016, 09:19 PM

You want to save money? Do not get married! Your wife will spend more $$$ than you will ever earn.

sgosh · 06-18-2016, 04:50 PM

Quote:

Originally Posted by Nixin

You want to save money? Do not get married! Your wife will spend more $$$ than you will ever earn.

Nah. Marry a woman who makes >= $ than you!

MagmaRed370z · 06-21-2016, 07:05 AM

Buying a house is awesome and all but its very expensive. You will want things for the house (decoration, furniture, nice gadgets, upgrades, etc) and repairs are expensive as well.

Chuck33079 · 06-21-2016, 07:06 AM

Quote:

Originally Posted by schellingr

Buying a house is awesome and all but its very expensive. You will want things for the house (decoration, furniture, nice gadgets, upgrades, etc) and repairs are expensive as well.

Yeah, about once a year your house will kick you right in the wallet.

SouthArk370Z · 06-21-2016, 07:50 AM

Quote:

Originally Posted by schellingr

Buying a house is awesome and all but its very expensive. You will want things for the house (decoration, furniture, nice gadgets, upgrades, etc) and repairs are expensive as well.

But it's not like housing is an optional thing - if you don't buy, you have to rent. For a few bucks more you can have a house of your own. Buying a house can be more expensive while you're making payments, but you have an asset when you get done (and a "free" place to stay). When you rent, you end up with nothing; if you're lucky, you get your deposit back.

As with a car, house maintenance and repairs are a lot cheaper if you don't let things go. Deferred maintenance is always more expensive. Fix things at the first sign of trouble.

Make sure you have enough money saved up to cover the deductible on your homeowner's policy. I spend a little extra for a low deductible and extended coverage - might cost me a few bucks that I could use better elsewhere, but I sleep better at night.

Save as much as you can. When you spend, spend to save in the long run. Treat yourself every now and then, but NEVER sacrifice financial stability for a little fun.

Chuck33079 · 06-21-2016, 07:53 AM

Quote:

Originally Posted by SouthArk370Z

But it's not like housing is an optional thing - if you don't buy, you have to rent. For a few bucks more you can have a house of your own. Buying a house can be more expensive while you're making payments, but you have an asset when you get done (and a "free" place to stay). When you rent, you end up with nothing; if you're lucky, you get your deposit back.

Plus, the home can appreciate and mortgage interest is deductible.

Quote:

Originally Posted by SouthArk370Z

As with a car, house maintenance and repairs are a lot cheaper if you don't let things go. Deferred maintenance is always more expensive. Fix things at the first sign of trouble.

And if you've got an old house, budget an extra 100% of the job cost for when you get halfway into the job and find another three broken things. Ask me how I know.

cooltoy · 06-17-2016, 09:22 PM

Depends on whom you marry.

jchammond · 06-17-2016, 09:31 PM

Don't Mod Your ~Z~

mishuko · 06-18-2016, 07:02 AM

I get paid biweekly.

First cheque bills/car loan/living expenses/saving/mod fund.

Second cheque bills/car loan/ insurance/ savings

7midgits · 06-20-2016, 07:11 PM

PAy cash or have special account for "toys" I have $30K in my Car toy account. Had an 05 and 08 Vette and a Miata in the past three years. Now looking sniffing around Zs.

How I developed that account was my fathers rule. Take a loan out on your first car for no more that 36 months. After its paid off KEEP paying the money into a special account. Keep the car for another three years and the account will grow to a cash and carry account. Before you know it you will have a chunk of cash. When one is paying cash for something, they seem to give it much more thought than when one is decideing how much they can afford a month.

BTW I never bought a new car . EVERY car one sees on the street is a Used car.

The largest raise anyone will get is the raise at 40 years old when their 15 year note is paid off on the mortgage. That is a huge tax free raise. But again KEEP making the payments to yourself another 15 in perpetuity in investments....Retire early if you want...

old guy · 06-20-2016, 07:23 PM

Learned the same thing from my parents back in the 60s and lived by it ever since!
I've even bought cars for cash & made payments back to myself.

06-15-2016, 07:29 PM	#3 (permalink)
cooltoy Elite Member Join Date: Jun 2012 Location: Calgary Posts: 13,983 Drives: 14 PW 370Z S/T MT Rep Power: 243722	It is kind of an interesting observation. A bunch of my former coo-workers (me included), are trying to create an oil company and are looking for investors to put money in. Canadian lenders expect a return on all the companies they invest in, so they scrutinize everything much more thoroughly and will not give you money if they perceive any small risk, where as American investors fully expect that 75% of their investments will fail. they are looking for that 25% that wil make them big bucks. Much easier to find investment money in the States. __________________ Member of kenchan's "photoshopped mods" and "proper offsets" gang.

06-17-2016, 08:01 PM	#4 (permalink)
Mike The370Z.com Sponsor Join Date: Jun 2009 Location: Loganville, GA Posts: 5,944 Drives: 370z Rep Power: 2186	closing credit cards in the states is bad for you. They rate you based on the percentage of balance owed to credit limits, so if you owe 1000 on a 2000 limit card and 0 on another 2000 limit card, they look at it as only a 25% utilization, which will yield a higher credit score than a 50% utilization. Chuck33079 likes this. __________________ NISSAN: 75 280Z / 86 300ZX GLL /87 Sentra SE / 03 350Z / 23 Z Porsche: 93 968 / 23 Macan GTS / 93 968

06-17-2016, 09:19 PM	#5 (permalink)
Nixin A True Z Fanatic Join Date: Sep 2015 Location: GWN Posts: 3,488 Drives: Goodbye Z! Rep Power: 19833	You want to save money? Do not get married! Your wife will spend more $$$ than you will ever earn. /Angelo350Z/ and jchammond like this.

06-21-2016, 07:05 AM	#7 (permalink)
MagmaRed370z A True Z Fanatic Join Date: Jun 2014 Location: USA Posts: 1,468 Drives: 14' 370z Sport Magma Rep Power: 13	Buying a house is awesome and all but its very expensive. You will want things for the house (decoration, furniture, nice gadgets, upgrades, etc) and repairs are expensive as well. Chuck33079 likes this. __________________ Sold: 2014 Magnetic Black Base. Current: 2014 Magma Red 370z Sport \| ARK Grip Exhaust \| 25mm HR Spacers \| GTR Button \| DRL Mod

06-17-2016, 09:22 PM	#11 (permalink)
cooltoy Elite Member Join Date: Jun 2012 Location: Calgary Posts: 13,983 Drives: 14 PW 370Z S/T MT Rep Power: 243722	Depends on whom you marry. Pintsize725 and sgosh like this. __________________ Member of kenchan's "photoshopped mods" and "proper offsets" gang.

06-17-2016, 09:31 PM	#12 (permalink)
jchammond A True Z Fanatic Join Date: Nov 2014 Location: South Carolina Age: 58 Posts: 15,204 Drives: 13’ 370Z TS 7A/T Rep Power: 2684395	Don't Mod Your ~Z~ __________________ MazWorx built long block \| FI-TT-100 Stage 2.75 \| IPT built 7A/T http://www.the370z.com/members-370z-...s-musings.html

06-18-2016, 07:02 AM	#13 (permalink)
mishuko A True Z Fanatic Join Date: Jul 2014 Location: bouncin on tigga Posts: 8,062 Drives: '12 Z Rep Power: 9435	I get paid biweekly. First cheque bills/car loan/living expenses/saving/mod fund. Second cheque bills/car loan/ insurance/ savings

06-20-2016, 07:11 PM	#14 (permalink)
7midgits Base Member Join Date: Aug 2014 Location: Murrells Inlet Posts: 10 Drives: 08 C6 Z51/12 Miata Rep Power: 11	PAy cash or have special account for "toys" I have $30K in my Car toy account. Had an 05 and 08 Vette and a Miata in the past three years. Now looking sniffing around Zs. How I developed that account was my fathers rule. Take a loan out on your first car for no more that 36 months. After its paid off KEEP paying the money into a special account. Keep the car for another three years and the account will grow to a cash and carry account. Before you know it you will have a chunk of cash. When one is paying cash for something, they seem to give it much more thought than when one is decideing how much they can afford a month. BTW I never bought a new car . EVERY car one sees on the street is a Used car. The largest raise anyone will get is the raise at 40 years old when their 15 year note is paid off on the mortgage. That is a huge tax free raise. But again KEEP making the payments to yourself another 15 in perpetuity in investments....Retire early if you want... Mike and old guy like this.

06-20-2016, 07:23 PM	#15 (permalink)
old guy A True Z Fanatic Join Date: Apr 2015 Location: S.E. Michigan Age: 68 Posts: 2,711 Drives: 13 magma touring Rep Power: 2684370	Learned the same thing from my parents back in the 60s and lived by it ever since! I've even bought cars for cash & made payments back to myself.

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