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Ways to save money-NF


LostAnotherOne

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My tip isn't how to spend less money but it's how to save money.

If you take a $20 bill every week, and put it in a sock or into a bank account, that's $1080 a year. Even if you can only do half that, so a $20 every paycheque, that's $540 a year.

For me, since I only work seasonally, this is how I get through Christmas. Having that extra $1080 gets me through the holidays and keeps my credit cards completely free. For those of you with expendable income, it's perfect to treat yourself to a trip or new fishing gear.

That's what I said, I pay myself every payday, just like paying a bill. Have been doing it for a long time, buta lot more than $20.

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I recently checked out some stats regarding saving for an RRSP - looking down the road 40 years. Pls don't hang me if my figures are off a little.

A person age 20 deposits $2,000.00 to an RRSP

Same person deposits $50.00 per week to a separate account for an RRSP at the end of the year for 40 years

At age 60 this person now has a total of $214,000.00

What is astounding is - $105,000.00 of the $214,000.00 is interest!!

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Sadly $20 is all I can afford currently.

The reason I put more is, I don't buy my lunch at work probably 30 a week, I make it, leftover from dinner is great. I don't go to Tim's or other coffee houses., We don't go to restaurants, we love to cook at home. I was paying 90 a month for parking at work, when we moved and got parking free it all went in. it all adds up.

I try to keep my chequing account always able to pay the 'fixed bills" at the end of the month if it's above it get transferred to a savings plan. When I was younger I saw frind that had pennies in jar and loved the look, so off I went I think I have just over 11,000 of them :) they are not going anywhere soon.

We go to COSTCO, I buy my gas there always. . . every little bit helps.

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Personally I hate debt. HATE IT! Don't borrow if I don't have to, don't lend much either, that way there's little chance for issues with the turn-around.

 

For young people to save money, two things...

 

When you get out of school with any and all of your debt, or your parents finally kick you out... well, GET TO WORK. And work, and work, and work. You'll need food and shelter while you work so pay for that and WORK! Clear your debts and keep going into savings. Then work and save, work and save.

 

When you've got savings, invest. Save and invest. Save and invest. Even if rates aren't all that great on what you can afford to invest in, your money will be tied up making money so, technically your mindset should still be at zero $$$... Which is like debt because, you'll continue on with work and save.

 

Work... Save... Invest. Once you do this for awhile it becomes you. You set financial goals, you spend within your means, you lose nothing to interest. You save without feeling like you're always "saving."

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We staff 12 where I'm currently working in Ontario... we're two short. I work with two immigrants from Jamaica, two from the Philippines, one from the U.S. All new to the country. All but myself and the U.S. worker have less than two years experience in country. Recent grads, early 20's mostly, full-time jobs... Jobs to be had like this all across the country in healthcare. Same for paramedics, but to a lesser degree. Also new spaces opening up in mining and exploration and the trades are screaming for people as I understand... (and they pay)

 

See it time and again, many people head off to University to be what they want to be without looking at what's really available to them afterwards. Career choice in school in this day and age should almost come to a halt. Guidance should be given to fill only jobs that need filling.

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See it time and again, many people head off to University to be what they want to be without looking at what's really available to them afterwards. Career choice in school in this day and age should almost come to a halt. Guidance should be given to fill only jobs that need filling.

You hit it dead on!!! This is the only piece of advice I give anyone looking to choose a career..."search for the job before you select a program"

Edited by Rod Caster
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That's actually really good advice. A lot of high school kids need to hear this. Everyone thinks they are going to come out of school with a full time job making 50k a year.

 

It doesn't help that most colleges and universities promote a 90%+ hiring rate or something there in. What they don't tell you is 80% of that 90 is unpaid internships, contracts, seasonal and filling leave of absence positions.

 

I love what I do when I do it in terms of work, but if I had a second chance, I might take a look at what else was available.

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Yes - skilled trades is the way to go for most people. There is presently a big demand. I don't have stats to back up my statement but, I do know out west in the oilfields they (were) looking for tradesmen. The recent slump in oil prices have definitely slowed things down (winter is always slower), but it will rebound. Middle of April you'll see many companies out there hiring. I know, I'm one of them!

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Personally I hate debt. HATE IT! Don't borrow if I don't have to, don't lend much either, that way there's little chance for issues with the turn-around.

 

For young people to save money, two things...

 

When you get out of school with any and all of your debt, or your parents finally kick you out... well, GET TO WORK. And work, and work, and work. You'll need food and shelter while you work so pay for that and WORK! Clear your debts and keep going into savings. Then work and save, work and save.

 

When you've got savings, invest. Save and invest. Save and invest. Even if rates aren't all that great on what you can afford to invest in, your money will be tied up making money so, technically your mindset should still be at zero $$$... Which is like debt because, you'll continue on with work and save.

 

Work... Save... Invest. Once you do this for awhile it becomes you. You set financial goals, you spend within your means, you lose nothing to interest. You save without feeling like you're always "saving."

Well said I was given this advise when I was 21 and now at the age of 50 I am financially secure with no debt and will be ready to retire before I am to old to enjoy it. The road that some take by going to college was not a path I wanted at the age of 18. I went into the Seabees a branch of the Navy and came out a plumber. Between working hard and a few classes to further my education I escaped the debt that college places on our youth. A driving ambition got me to the point of starting my own company 20 years ago and it has become a secure world for me.

 

A final thought is "The difference between being in debt versus not is when you spend the money."

 

Art

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As Terry says, don't use credit cards, pay cash for everything and if you don't really need something, don't buy it.

I do quite the opposite.........I pay almost EVERYTHING with a credit card and of course I pay it off in full when the bill arrives. However, I get either points or money back using those credit cards which you do NOT get using cash. Also if there is a problem with a product, especially a large ticket item the credit card company will help you when the retailer or manufacture is stonewalling you.

 

I also buy things I don't need right now "IF" it's on sale and I can store it for the near future. I almost never purchase anything that is not on sale, including gasoline.

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Yes - skilled trades is the way to go for most people. There is presently a big demand. I don't have stats to back up my statement but, I do know out west in the oilfields they (were) looking for tradesmen. The recent slump in oil prices have definitely slowed things down (winter is always slower), but it will rebound. Middle of April you'll see many companies out there hiring. I know, I'm one of them!

As someone who has been out there (and not even in the trades field) I can tell you that the oil fields will drain you. It chews people up and spits them out. The work legislation is different out there. Legally they can work you 24 days straight, 12 hours a day. Then they have to give you 4 days off before they send you right back out again. Most oil companies do 10 days on 10 off which isn't bad, but those 10 days you live at the oil camps. Eat, sleep and live away from friends and family. For small stints this isn't bad but if you have kids or loved ones it can be taxing over the years. Sadly I knew a few people who's relationship ended because of the strain.

 

I guess I'm spouting off nonsense about wanting my cake and eating it too, but in life, the one thing I can't buy is time. I want to spend as much of it with my family as possible before I no longer have that opertunity.

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That's a big one, I laugh at a lot of the ones that just have to drink bottled water. I pay about $2.00 for a cubic meter, that's a 1000 litres or 2000 - 500ml bottles. Run it through a Britta and it gets rid of the chlorine taste. If I really want to get cheap, I just go downstairs and fill from the sandpoint. I realize there are the ones who have horrible ground water, but you can save a lot there.

You can get rid of that nasty chlorine taste for FREE (my favorite four letter word) by just pouring a glass of water and let it sit out for a few hours. The chlorine will just dissipate on it's own.

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As someone who has been out there (and not even in the trades field) I can tell you that the oil fields will drain you. It chews people up and spits them out. The work legislation is different out there. Legally they can work you 24 days straight, 12 hours a day. Then they have to give you 4 days off before they send you right back out again. Most oil companies do 10 days on 10 off which isn't bad, but those 10 days you live at the oil camps. Eat, sleep and live away from friends and family. For small stints this isn't bad but if you have kids or loved ones it can be taxing over the years. Sadly I knew a few people who's relationship ended because of the strain.

 

I guess I'm spouting off nonsense about wanting my cake and eating it too, but in life, the one thing I can't buy is time. I want to spend as much of it with my family as possible before I no longer have that opertunity.

This is true.

 

But most companies/employees will continue to work above and beyond the legislation, especially for remote camp work.

 

The hours I worked were nothing short of rediculous

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The EASIEST ways to save a buck........

 

DON'T get married

DON'T have children

Get a job close to home

Get a job that supplies you with coffee and only drink it there for FREE

Get a job that has internet service and only use it there

Get a job that buys you lunch and only eat at work

Get a job that gives you a car and pays for all the gas you use

Get a job that gives you a uniform and always wear it

Get a job that has a back room that you can sleep in

Don't spend any of the money this job pays, just sponge off of friends and relatives

Don't hunt

Don't fish

Don't trap

Don't drink

Don't gamble

Don't date women

 

After 30 - 40 years of this, you will have a ton of money and nothing to show for it.

 

 

The End

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The EASIEST ways to save a buck........

 

DON'T get married

DON'T have children

Get a job close to home

Get a job that supplies you with coffee and only drink it there for FREE

Get a job that has internet service and only use it there

Get a job that buys you lunch and only eat at work

Get a job that gives you a car and pays for all the gas you use

Get a job that gives you a uniform and always wear it

Get a job that has a back room that you can sleep in

Don't spend any of the money this job pays, just sponge off of friends and relatives

Don't hunt

Don't fish

Don't trap

Don't drink

Don't gamble

Don't date women

 

After 30 - 40 years of this, you will have a ton of money and nothing to show for it.

 

 

The End

That would be the hardest way to save shooniyah lol.

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