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budget09
LIF Zygote
Member since 11/09 46 total posts
Name:
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Trimming Expenses
We started trimming away unnecessary "stuff" from our budget at the start of the economic downturn in 2008. I was just reviewing our budget for 2009 and I realized we saved about $15,000 in 2009 by getting rid of useless services, downgrading others, and changing our shopping habits. Below is a quick list of how we achieved this.
1. Cancelled Credit Tracking Service - Saved $300/yr
2. Cancelled 1 Gym Membership - Saved $380/yr
3. Turned 2 Cell Phones plans to 1 Family Share Plan - Saved $800/yr
4. Turned 2 health insurance to 1 family insurance - Saved $8800/yr
5. Shop for Groceries once weekly - Saved $3300/yr
6. Go to bank once month for cash - Saved $1200/yr
7. Drop Collision on one car insurance - Saved $160/yr
8. Increase deductible on another car - Saved $60/yr
This is pretty crazy because I didn't how much money I was wasting. A few bucks here and a little there really adds up. If the annual savings is invested, you could amass $175,000 in 10 years (assume 5% return/yr at 33% tax bracket)
Message edited 1/5/2010 9:30:48 PM.
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Posted 1/5/10 9:28 PM  |
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Tah-wee-ZAH
Kisses
Member since 5/05 15952 total posts
Name:
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Re: Trimming Expenses
Bravo!!!
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| Posted 1/5/10 9:47 PM |
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pjay
YAY! I CAN WRITE HERE....
Member since 5/07 1551 total posts
Name:
PJAY
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Re: Trimming Expenses
wow, great job.. thanks for sharing
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| Posted 1/5/10 10:35 PM |
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budget09
LIF Zygote
Member since 11/09 46 total posts
Name:
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Re: Trimming Expenses
anyone else have any suggestions on saving money in terms of there household expenses?
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| Posted 1/7/10 9:29 PM |
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shoegal68
LIF Toddler
Member since 6/08 422 total posts
Name:
Sandy
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Re: Trimming Expenses
my biggest expense is my commute to work & eating out. i always try to brown bag. i'm good in the beginning of the week but fall apart towards the end.
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| Posted 1/7/10 9:33 PM |
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rileysmama
needing a vacation..!
Member since 10/09 2162 total posts
Name:
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Re: Trimming Expenses
Posted by budget09
anyone else have any suggestions on saving money in terms of there household expenses?
-try to not use lights at all during day
-keep thermostat low and bundle up and take quick showers
-be creative with food in your fridge/freezer/cabinets and use it all up before shopping for more food
-create a "secret" savings account and set it up to dump X amount into it weekly automatically (set mine at 200 a week at emigrant..one day i logged on and saw 2 grand in there!! it adds up when you forget about it)
-have a garage sale/sell stuff on craigslist
-buy little things at dollar store (wrapping paper, gift bags, etc)
-see what you can cut out of your cable service
-buy in bulk when stuff is on sale
-clip coupons
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| Posted 1/7/10 9:39 PM |
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KittyGags
LIF Adult
Member since 7/09 5614 total posts
Name:
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Re: Trimming Expenses
Quick question because i've been harassing DH about condensing our cell phone plans, did either of you have to change your numbers to do it? Thats one of the main things keeping us from doing it!
Also, do you have to have the same phones, because I have a BB and he doesn't so our plans are different because I have to carry a data package...
TIA!
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| Posted 1/8/10 9:55 AM |
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MST9106
My life:)
Member since 6/06 9589 total posts
Name:
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Re: Trimming Expenses
Posted by KittyGags
Quick question because i've been harassing DH about condensing our cell phone plans, did either of you have to change your numbers to do it? Thats one of the main things keeping us from doing it!
Also, do you have to have the same phones, because I have a BB and he doesn't so our plans are different because I have to carry a data package...
TIA!
By law, you are allowed to keep your number and switch providers.
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| Posted 1/8/10 9:58 AM |
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JldDolphin
Member since 1/07 6929 total posts
Name:
Jen
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Re: Trimming Expenses
wow thank you for sharing. This is something we should really take a look at. It's hard but worth it in the end. We already do the "take a portion of our check and put it into a bank we don't go to often". It does add up quick. We need to learn to brown bag it more often at work. Thanks for the great ideas so far ladies. I'm saving this post. 
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| Posted 1/8/10 10:05 AM |
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Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
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Re: Trimming Expenses
I am saving this thread to my notebook to show DH how much money we can save!!! Thank you for this!
He doesn't get when I tell him we need to do these things because it adds up to a lot!
One thing we started doing is replacing our light bulbs with the new energy saving ones. We're doing it as a process though not doing them all at once. We just replace an old bulb with a new one when it burns out. I'm happy that our electric bill is going to be lower!
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| Posted 1/8/10 10:14 AM |
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KittyGags
LIF Adult
Member since 7/09 5614 total posts
Name:
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Re: Trimming Expenses
Posted by MST9106
Posted by KittyGags
Quick question because i've been harassing DH about condensing our cell phone plans, did either of you have to change your numbers to do it? Thats one of the main things keeping us from doing it!
Also, do you have to have the same phones, because I have a BB and he doesn't so our plans are different because I have to carry a data package...
TIA!
By law, you are allowed to keep your number and switch providers.
We both have Verizon so its not switching providers, its just switching our plans to tie them together.
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| Posted 1/8/10 10:29 AM |
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philsdeezy
LIF Adolescent
Member since 12/06 643 total posts
Name:
Dee
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Re: Trimming Expenses
Thank you for giving me something to think about.
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| Posted 1/8/10 10:38 AM |
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VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
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Re: Trimming Expenses
Posted by KittyGags
Posted by MST9106
Posted by KittyGags
Quick question because i've been harassing DH about condensing our cell phone plans, did either of you have to change your numbers to do it? Thats one of the main things keeping us from doing it!
Also, do you have to have the same phones, because I have a BB and he doesn't so our plans are different because I have to carry a data package...
TIA!
By law, you are allowed to keep your number and switch providers.
We both have Verizon so its not switching providers, its just switching our plans to tie them together.
You can do a BB with a family plan. They just add the data plan on. We were considering BB's for the both of us but went another route instead and we have a family plan.
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| Posted 1/8/10 12:59 PM |
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Cpt2007
A new love!
Member since 1/08 5946 total posts
Name:
Liz
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Re: Trimming Expenses
Posted by KittyGags
Posted by MST9106
Posted by KittyGags
Quick question because i've been harassing DH about condensing our cell phone plans, did either of you have to change your numbers to do it? Thats one of the main things keeping us from doing it!
Also, do you have to have the same phones, because I have a BB and he doesn't so our plans are different because I have to carry a data package...
TIA!
By law, you are allowed to keep your number and switch providers.
We both have Verizon so its not switching providers, its just switching our plans to tie them together.
You can absolutely change to a family plan on the same network and keep your #s. You would just have to do a new contract which would lock you in again but you wouldn't have to change phone #s or get new equipment. I'd start by going to the Verizon website and looking at the plans and the minute allowances. When you call them, ask for a rate plan analysis, and they will be able to pull a report for you to show you how many minutes you use a month and what plan would be best for you to go on under a share account.
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| Posted 1/8/10 1:49 PM |
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dapnkap
Our 3 angels
Member since 7/07 4824 total posts
Name:
Karen
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Re: Trimming Expenses
-Use coupons
-Shop at Costco/BJs for certain items
-Lower thermostats
-Got rid of cell phone contracts and bought 2 pay as you go plans (saved $600+ year)
-Combined car, home, flood and umbrella insurance with one carrier (saved $400 year)
-Work at home one day a week (save on gas and mileage)
-Switched from Cablevision to Verizon Fios (saved $500 year)
-Sell stuff on eBay to buy new stuff on eBay (i.e. DVDs, books, etc.)
-Shop online for best deals on just about everything
-Check oil company prices every year and lock-in to one that has the best rate
-Get energy efficient appliances and windows to save on energy costs
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| Posted 1/9/10 9:29 AM |
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pjay
YAY! I CAN WRITE HERE....
Member since 5/07 1551 total posts
Name:
PJAY
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Re: Trimming Expenses
Posted by VickiC
Posted by KittyGags
Posted by MST9106
Posted by KittyGags
Quick question because i've been harassing DH about condensing our cell phone plans, did either of you have to change your numbers to do it? Thats one of the main things keeping us from doing it!
Also, do you have to have the same phones, because I have a BB and he doesn't so our plans are different because I have to carry a data package...
TIA!
By law, you are allowed to keep your number and switch providers.
We both have Verizon so its not switching providers, its just switching our plans to tie them together.
You can do a BB with a family plan. They just add the data plan on. We were considering BB's for the both of us but went another route instead and we have a family plan.
my DH and I are on family plan and i threw my mom in as well....
look at these differences....
DH unlimited texts, me 200 texts, mom pay per use texts..... i have unlimited data, DH and mom pay per use.... your numbers can have any add ons and wont affect other numbers..... def do it! we have att
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| Posted 1/9/10 2:01 PM |
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pjay
YAY! I CAN WRITE HERE....
Member since 5/07 1551 total posts
Name:
PJAY
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Re: Trimming Expenses
Posted by Mici C
I am saving this thread to my notebook to show DH how much money we can save!!! Thank you for this!
He doesn't get when I tell him we need to do these things because it adds up to a lot!
One thing we started doing is replacing our light bulbs with the new energy saving ones. We're doing it as a process though not doing them all at once. We just replace an old bulb with a new one when it burns out. I'm happy that our electric bill is going to be lower!
and the bulbs last soooooo much longer.....
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| Posted 1/9/10 2:02 PM |
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Mommy2Boys
My Boys!!!!
Member since 6/06 14437 total posts
Name:
C
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Re: Trimming Expenses
Great job!!!!
We need to do the bank thing too...take out money for the month o r week and that's it because we are debit card happy 
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| Posted 1/9/10 4:11 PM |
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