Best ways to save money $

Nixin · 06-17-2016, 10:19 PM

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

cooltoy · 06-17-2016, 10:22 PM

Depends on whom you marry.

jchammond · 06-17-2016, 10:31 PM

Don't Mod Your ~Z~

Rusty · 06-17-2016, 10:49 PM

Quote:

Originally Posted by Mike

Actually, after visiting Japan 2 years ago, I bought this first thing when I got home. I pamper myself now!

Probably shouldn't be in the money saving thread though, as it wasn't cheap!

So now you always have a clean tushie. Does it get behind your ball too?

Spaggettio · 06-17-2016, 11:12 PM

everything is negotiable.

never accept the first 3 "no" answers.

My father who is very successful always said.

1. Ask politely
2. Ask the same thing in a stern but still a friendly way
3. Demand what you want within reason

Just saved 8.5k off my friends nissan navara doing the above

mishuko · 06-18-2016, 08:02 AM

I get paid biweekly.

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

Second cheque bills/car loan/ insurance/ savings

sgosh · 06-18-2016, 05:50 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!

sgosh · 06-18-2016, 05:53 PM

Quote:

Originally Posted by Rusty

So now you always have a clean tushie. Does it get behind your ball too?

Sweet Cheeses!

If they sold these in Canada, I'd never leave my bathroom...

ChaseZ · 06-18-2016, 07:36 PM

Quote:

Originally Posted by sgosh

Sweet Cheeses!

If they sold these in Canada, I'd never leave my bathroom...

There's at least a few booths selling them at every home show.

7midgits · 06-20-2016, 08:11 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, 08:23 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.

scottIN · 06-21-2016, 07:39 AM

I follow the Dave Ramsey plan - no debt except for your house on a (max) 15 year loan. No credit cards - cash (or debit card) for everything.

I know a lot of posters said 'But I get X% cash back!' Well, the problem with that is that every study shows you spend more money using a credit card vs. a debit card. So to get your couple hundred dollars at the end of the year, it's probably cost you thousands. And as Dave says, he's never had a millionaire tell him 'Wow! Getting that cash back is what made me a millionaire!'.

Another thing that came up in here was 0% financing then investing the cash you would have paid. That works until it stops working. Let's say you did that on a zero down car. Two months later, the economy tanks, the market crashes, your investment is worth 50% of what it once was, and you lose your job. Oh - and you're upside down $5K in your car already. You can't make the payments or sell the car. Trying to arbitrage 0% / investing doesn't factor in risk. If you don't believe there is any risk, you should go borrow as much money as you can on your house, your cars - whatever - and put it into the market.

A year ago, my GF and I were doing ok - no problem making payments, went on vacations, went out all the time. But we had huge payments - mostly the cars. Doing the debt snowball, we're down to just one payment and paying it off @ $5K / mo. When we're done in a couple of months, you know where that $5K goes? In my pocket! So let's say I want a new(er) car. I can now save $20K in 4 months, add that to my paid off car, and have $45K for something new. And still no payments. We're already planning a vacation to Costa Rica for New Year's. Know how long we have to save up for it? One week. Because our only payment will be our house ($800 on a 15 year fixed).

I've sort of become a Dave Ramsey evangelist. When you understand what debt does to you, it all makes sense. Did you know that debt is the most heavily marketed product? Why? That's how car dealers, furniture stores, banks and so many others make their money. My banker has 3 Porsches. My debt paid for those. I understand that now.

Chuck33079 · 06-21-2016, 07:47 AM

Quote:

Originally Posted by scottIN

Another thing that came up in here was 0% financing then investing the cash you would have paid. That works until it stops working. Let's say you did that on a zero down car. Two months later, the economy tanks, the market crashes, your investment is worth 50% of what it once was, and you lose your job. Oh - and you're upside down $5K in your car already. You can't make the payments or sell the car. Trying to arbitrage 0% / investing doesn't factor in risk. If you don't believe there is any risk, you should go borrow as much money as you can on your house, your cars - whatever - and put it into the market.

You're right to a point. You absolutely can arbitrage the difference assuming the interest rate you're trying to beat is low enough. Hell, you can get a bank CD that'll beat a 0.9% car loan.

Now if you're paying 6%, you're absolutely right, it's too much risk to try and beat that.

The one thing you left out of that scenario where everything goes to **** is your savings. If you don't have six months to a year's worth of an emergency fund sitting in cash you have no business trying to be slick and make a couple of bucks by investing what you would have put down on a car.

MagmaRed370z · 06-21-2016, 08:05 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, 08:06 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.

06-17-2016, 10:19 PM	#46 (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.

06-17-2016, 10:22 PM	#47 (permalink)
cooltoy Elite Member Join Date: Jun 2012 Location: Calgary Posts: 13,973 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, 10:31 PM	#48 (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

06-17-2016, 11:12 PM	#50 (permalink)
Spaggettio Base Member Join Date: Sep 2013 Location: Sydney Posts: 110 Drives: 2015 370z coupe Rep Power: 12	everything is negotiable. never accept the first 3 "no" answers. My father who is very successful always said. 1. Ask politely 2. Ask the same thing in a stern but still a friendly way 3. Demand what you want within reason Just saved 8.5k off my friends nissan navara doing the above SouthArk370Z and old guy like this.

06-20-2016, 08:11 PM	#55 (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.

06-18-2016, 08:02 AM	#51 (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, 08:23 PM	#56 (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: 2684369	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.

06-21-2016, 07:39 AM	#57 (permalink)
scottIN Track Member Join Date: Aug 2011 Location: New Castle, Indiana Posts: 764 Drives: '12 370Z Rep Power: 55	I follow the Dave Ramsey plan - no debt except for your house on a (max) 15 year loan. No credit cards - cash (or debit card) for everything. I know a lot of posters said 'But I get X% cash back!' Well, the problem with that is that every study shows you spend more money using a credit card vs. a debit card. So to get your couple hundred dollars at the end of the year, it's probably cost you thousands. And as Dave says, he's never had a millionaire tell him 'Wow! Getting that cash back is what made me a millionaire!'. Another thing that came up in here was 0% financing then investing the cash you would have paid. That works until it stops working. Let's say you did that on a zero down car. Two months later, the economy tanks, the market crashes, your investment is worth 50% of what it once was, and you lose your job. Oh - and you're upside down $5K in your car already. You can't make the payments or sell the car. Trying to arbitrage 0% / investing doesn't factor in risk. If you don't believe there is any risk, you should go borrow as much money as you can on your house, your cars - whatever - and put it into the market. A year ago, my GF and I were doing ok - no problem making payments, went on vacations, went out all the time. But we had huge payments - mostly the cars. Doing the debt snowball, we're down to just one payment and paying it off @ $5K / mo. When we're done in a couple of months, you know where that $5K goes? In my pocket! So let's say I want a new(er) car. I can now save $20K in 4 months, add that to my paid off car, and have $45K for something new. And still no payments. We're already planning a vacation to Costa Rica for New Year's. Know how long we have to save up for it? One week. Because our only payment will be our house ($800 on a 15 year fixed). I've sort of become a Dave Ramsey evangelist. When you understand what debt does to you, it all makes sense. Did you know that debt is the most heavily marketed product? Why? That's how car dealers, furniture stores, banks and so many others make their money. My banker has 3 Porsches. My debt paid for those. I understand that now. Chuck33079 and 7midgits like this.

06-21-2016, 08:05 AM	#59 (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

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