Financing Plans and Tricks

[BillyGr]

The unfortunate thing today, is credit card transaction fees are priced into everything you purchase by default. If you dont purchase with a credit card and get ~2% reward back in some way, you are simply getting charged more than you need to by that amount on virtually everything you buy or pay for. This adds up to hundreds over the course of a year. Over 10 years, its thousands of dollars. Ovet a working lifetime, it can be tens of thousands.
Dont leave money on the table.

Many, but not all things.

A couple examples:
We have a number of gas stations that offer lower prices for cash - if it's 6 cents less on a $3 price point, that's the same as the 2% reward.
A local dentist offers 5% off with cash (or check) vs. 2% for a credit card - cash still saves 1% even after rewards.

Not to mention the places that are still cash only. Or in smaller places asking an owner for a cash discount - they might just offer a deal.

[kayak karl]

www.daveramsey.com

yep. we use his books and tapes. classes at church help by being a support group. my big thing is taking coffee, instant drinks and food for lunch. i never go to a Wawa

[CarlZ993]

Proper money management hinges on 3 principals: live beneath your means, pay yourself first, and manage your debt wisely. Of course, the devil is in the details. For managing your debt wisely, that means watching out for revolving credit. Especially Credit Cards (the crack cocaine of the financial world). Pay those cards off every month. If you are unable to do so now, establish a debt reducing plan from Dave Ramsey or Mary Hunt & whittle that balance down to zero. It works. Hopefully, you'll eventually reach a point where you never borrow money to buy a depreciating asset (car, furniture, etc). Only borrow money to buy a (hopefully) appreciating asset (real estate, a business, etc).

Back in the early 80s, I made monthly pre-payments for a ski vacation w/ a local ski club. Before I left for the vacation, it was completely paid for. When I got back from the vacation, no bills. Sweet! It was one of 'eureka' moments. I set up a special savings account for vacations. I didn't raid that fund for other purposes. Over time, it built up rather nicely.

Fast forward a bunch of years, I'm still doing it. Money still flows into my vacation fund. Most of vacations are backpacking related. Sometimes the travel can be expensive (NZ, Chile, Argentina, etc). But the rest is fairly economical. I charge everything on a credit card. Transfer money from my vacation savings account to my checking account & pay the monthly bill in full. Easy peazy.

As far as what to cut in your budget & what to keep, you have to establish what is important to you. Set priorities. For me, I always put more emphasis on experiences (travel, usually cheap travel) over 'things.' Things break, you misplace them, you grow tired of them, etc. Experiences stay with you forever (assuming no Alzheimer's Disease).

Everybody dies... but not everyone lives. You want to be the one who truly lives (and merely having a pulse is not living in my book). 10 yrs from now, which statement do you want to make? - "In 2016, I bought the latest iPhone 7" or "In 2016, I hiked the Appalachian Trail and it was awesome!"

[greeter]

Not sure if this is the type of planning you are considering. If you don't have anyone at home that you trust with your finances and you have budgeted for an extended hike, pay ahead on a credit card a couple thousand. Each month your balance due will be zero so you don't need to worry about late payments. Bills can be paid automatically and you still get all the cash back/ flyer miles from using the card as you go. It will work like a debit but with the protections that come with a credit card.

[Dogwood]

Read this website: http://www.mrmoneymustache.com/

Good one I had forgotten about. THX Coffee.

...A local dentist offers 5% off with cash (or check) vs. 2% for a credit card - cash still saves 1% even after rewards....

Also, consider going south of the border(SOB) for major dental work. I got this tip from a strapped for dental cash self employed hiker friend who used to live in San Diego who saved $3100 by taking a bus to Tijuana for his dental work. That $3100 he parlayed into thru-hiking the PCT and moving to Hawaii. I did some pre traveling homework first finding reviews of accredited dentists mostly trained in American Dental Schools who set up SOB practices. It helps if you live near the Mexican border and/or know some Spanish but still consider I flew from New Jersey to San Diego, paid for my RT flight, visited SD, stayed at my friend's place, took the bus down to Tijuana and back to SD three times over a 16 day period, and SAVED $1900 on two root canals, two porcelain crowns, and one filling, easily paying for the whole cushy trip, where I had a blast both in Tijuana and SD. I'm not exactly fluent in Spanish either but I got by.

Prescription drugs are also cheaper in Can and Mex. And, don't be fooled. These are the same drugs you'd obtain in the U.S. at a 40-60% increase.

Bike to work if you can. 1) Saves on gas. 2) Trains your body up a bit. 3) Ya can cancel a gym membership if you're like me!

I did this. Despite having a good PU getting decently OK MPG I still opted to bike, bus, car pool(remember when this was in fashion? what happened?), or walk more than drive in most fair three season weather. I even calculated the bus ride to take me 25 extra mins total to/from work but costing me $1.50 each way(purchased a monthly pass, six days/wk x $3 = $18) compared to me driving(gas, tolls, parking, etc., $14/day, $84/wk). On the bus I went over work related duties, made biz calls, read, listened to audio tapes, or just napped!

What a good way to work out preparing for a thru-hike by walking and bicycling more while learning to duplicate many of the exercises I once did at the gym at a $$ cost. What I couldn't duplicate with the specific machines at the fancy paid gym I now do at a local college gym that charges me only $2 WHEN I GO. I still get the views too but of the coeds! Love the college scene.

www.daveramsey.com

Read two of his books and have on occasion tuned into his show. Comes from a Christian perspective. Seems many of the financial ideas are longer term
being realized IMO.

[atraildreamer]

yep. we use his books and tapes. classes at church help by being a support group. my big thing is taking coffee, instant drinks and food for lunch. i never go to a Wawa

I listen to him all the time. My only regret is that he was not on the air in the 70's. I could have use his knowledge back when I was starting out.

Ever wonder what would happen to the economy of this country if everyone started living the way Ramsey suggests? I doubt that we would have an 18 trillion dollar deficit.

(Just heard that the deficit is now 20 trillion!)

[KTX]

If you can, pick up a second job at an outdoor retailer, especially during Christmas season, easy time to get hired.

Some of the perks, hanging out with other people who love the outdoors (hopefully), helping customers who love the outdoors and swap stories, learning about the gear, and of course, the sweet discounts.

I've worked in an outdoor specialty shop for a number of years as a college student, while the pay is not the greatest I can get discounts anywhere between half off MSRP to half off wholesale. Huge help for purchasing shoes/socks/tent/food, just about everything related to the AT.

[Traveler]

One of the better tricks for saving is whenever you actually save a few dollars buying something or NOT buying something, take the amount you saved and squirrel it away. Too often people do make wise purchases that saves them money but end up spending it on something else. This works on a number of things in life actually. If you save $6.00 at the grocery store using coupons, put $6 in the jar or savings account. If you finish your car payments, take that payment money in subsequent months and stash it away for a year or two and be amazed how much cash you have on hand.