Tightening the Belt?

[Dave_S]

Although I'm still lucky enough to have a job, like most people my pay just isn't keeping pace with the increasing cost of living. My better half has a job too, but we have both been told to forget about any notion of job security. We still have a mortgage and a few cars we want to keep, so we've been looking at painless ways to cut down on spending.

In my case it's fairly easy. I was already saving $40 a week by riding a bike to work instead of taking the train. Until two weeks ago I was buying coffee and toast for breakfast. By making it myself in the work kitchen I save over $20 a week. Lunch is next up - I'm one of those lazy people that tends to buy lunch, so I can probably save at least another $20 a week there.

We're also looking at groceries. We already grow some herbs, but I'm putting in vege beds in a few weeks. We bought a small chicken coup for $50 last week and hope to re-coup (bad pun) that in eggs. We're also reviewing stuff like insurance, phone plans and anything else we can think of to see if we can get a better deal. Even stuff like doing laundry off peak helps.

For us, the main thing is to cut back on spending for boring stuff so we don't have to cut back on Land Rovers, old Volvos and bikes.

Is anyone else doing the same sort of thing, or is it better to just cash in some of the cars and bikes? We already sold the only car we didn't like (a Ford Focus).

[debruiser]

I hear you. I've been doing that for ages... I very very rarely buy lunch or go out to dinner, ok well we often go to the local bowls club on 2 for 1 night but that's 2 meals for $20! it's our little splurge. I used to ride to work whenever I could and even used to ride to go shopping for little things or visiting.

I've been tempted a few times to cancel my mobile plan because I don't really see the need for it - we have 2 mobiles and a land line for 2 ppl. We have our A/C hooked up to a cheap tarrif so it runs on the same hours as the hot water system - turns off for a few hours a day, but it can been worked around by turning it on earlier and getting the house cool, it'll stay cool enough till the A/C comes back on.

I'm always chasing deals on stuff - try to wait for a sale to buy clothes, tools, food, camping gear, electrical gear etc.

We have a little veggie patch, but no chooks - not enough room unfortunately.

I lost my job at the end of last year and ever since have been in and out of a couple of things but nothing real good, I'm now on a casual thing where they call me the day they want me IF they need me.... haven't worked for over a week now. :(

I used to have a focus, (2003 model) it was a great little car..... now we have a 2013 D90, 1980 S3 LWB, 1975 S3 SWB - my project car, I should be out there now stripping off the paint but....

[discovery39]

Dave S
If your going to go down the Chicken path, and you want them purely for eggs, then get Isa browns. They are specifically bred to lay eggs. They are egg machines!
You will have eggs Galore.
They don't go/get Broody and stop laying, like most of the others breeds.
Of course, you may already now all this.........:)

[trog]

now that i have been made redundant again, fourth time in three years we are now strictly enforcing the essentials only spend. no more meals or drinks out , repairs on the disco or entertainment. after a while it gets easy subsisting on library books and home cooking with the food from the discount bins at the supermarket . having a good music collection and a gym memberships helps considerably

[discovery39]

You had me all the way until I read Gym Membership..................:(

[trog]

a cheap local 24 hour place is less than 10 per week. it is also warm in the winter and has a hot shower. beats sitting in an un heated house.maybe for a negotiated price i can give lessons on existing with little

[Homestar]

We're probably in the same boat as many - both working full time, but been told that there will be no pay rises in the forseeable future, so things will continue to get tighter.

We earn a good quid between us, but we are now starting to tighten the belts and pay off debt rather than blow our dough on crap. All credit cards have been cut up and all will be payed off soon, then we'll be concentrating on paying down the Mortgage as fast as we can.

We rarely go out for tea now, we hardly drink now as well - but that's more about getting older and not caring so much about that sort of thing. Vegie patch will be going in soon - room has been made for this, but I'll be building some raised beds for this, so its easier to work and the Pugs won't get in it. Bee hive will be arriving in spring.

Athough the L322 is soon to be sold - it's just too big for a commuter and that's all it gets used for, no other vehicle will be sold - in fact, all this cost cutting may mean I can save up for that 6x6 Perentie that I want...:D

If everything went belly up for us, I'd just tow the van down to the inlaws property and live there with my Land Rovers... We've actually been thinking that wouldn't be a bad thing anyway and simplify our lives a lot...

[Tote]

Cutting down on lunch and coffee purchases is a biggie, I have been bringing a packed lunch for years now.
Not going shopping when you are hungry
Not going shopping on weekends ( yes even to camping stores / Car parts shops and EBAY )
Forcing yourself to consider the action plan for the bits that you do buy for your toys ie. I'd really like a new compressor to spray my vehicle except the vehicle isnt ready to be sprayed for six months. Don't buy the compressor yet. Same applies to parts unless they are really cheap.

Regards,
Tote

[Dave_S]

Part of all this has also involved going through stuff to work out what we need and what we don't. Seeing as a lot of charities are under the pump these days, we've given a lot of unnecessary (but still useful) stuff away. Things that we haven't used or worn for ages. I think having less stuff helps you want less stuff - it also makes you realise how much you must have spent on crap you don't need.

Of course, that doesn't mean I won't hoard car parts, tools and bikes. I'll just keep them hidden in the shed. Someone offered me a car on the weekend for a couple of hundred bucks, but so far I'm resisting :angel:

[loanrangie]

Same here, cutting down where we can but still wanting to hold onto the things we have and not willing to sell of the bike or Kombi or FC holden.
I dont like my job but the thought of going back out into the job market at this time is daunting.

[Tombie]

Ebay - my personal nemesis :)

A declutter is a good thing...
I managed to walk my phone onto the corporate account which saves me a bundle.

Dropped my net down to 200gb and have began to dispose of unnecessary bits and pieces...

[superquag]

EvilBay can be badd... but it can be useful too. I buy my polarized sunnies for less than $10. - Usually $4 to $9.00 - they get scratched and sat upon just like expensive ones...

When I was on prescription meds, I bought them from India. Saving of over $60 per month, plus what I saved the PBS... Worth a considered look, though I've found one that is cheaper here from a Chemist Warehouse. Pity I didn't need it...:o
Yes, I know all about 'fake' drugs... but either they worked (I'm still here!) or I didn't need them in the first place and the Doctor was fake.:wasntme:

Health is priceless. Cut out the 'factory-made edible poisons' which is anything that comes in a packet, tin or bakery. Or at least all sugars, especially artificial sweeteners/nerve toxins. A clearer mind copes better.

Gym membership at a 24/7 is worth it's weight in gold. No, it won't make you skinny unless you're fanatical, but it will reduce and control depression better than any pill invented...with the only side-effect being greater fitness. Been there - still doing it.
As has been mentioned, you can shower there (saving power and water) and at the odd hours there's no-one around to make you feel guilty about a 5 mins+ soaking...:wasntme:

Get your body properly fed, fit(er) and your brain will follow. Indeed everything follows from that, and it all saves money today...and tomorrow.

Enjoy your eggs ! :D

[rovercare]

Car's, rego's I had way to many, now started a club and club reg half of them

Food, cut out the snacks, you don't need them, BUT buying lunch is economical, salad roll for example is not a dear purchase, but the drink and chocy bar that go with it certainly are

Drinks, water is free

Power, need that extra fridge running half empty? freezer? really need the A/C at 26c in winter and 16 in summer?

Unnecessary driving, trips for the sake of it, not weekend fun trips, but to the shop, to the mates, to the family....can you incorporate these to and from work, or all in one day/trip

Landlines, waste of money, full stop and not needed unless you have a fax

A lot can be saved, shopping around, mortgage, insurance for house and car etc can be had cheaper with a few hours on the phone, if you save $300 in 2 hours on the phone, you just paid yourself $150/hr after tax!

Shopping, buy in bulk, know your prices and buy on special. thinking you "can't afford" to be in bulk is no excuse

Insurances in general, I personally think people overinsure everything down to there dog and cat, not necessary, waste of money, private health? lots a whole nother topic, but do you really need it?

There is heaps you can do to save bucks at home

False economy, chickens....feed vs eggs, unless you can sell your eggs to recoupe costs, 4 isa browns will eat a bag every 4-6weeks, that's 4 dozen eggs worth right there, so you need to sell the excess or eat a lot of eggs!, vegie patches, very time consuming, be sure its not just a pipedream, these things can save money, but can cost aswell. vegies, you must adapt diet to seasonal food aswell to actually make a real saving

Its all about return on your investment, measure that and everything makes financial sense

[Jeff]

I dont like my job but the thought of going back out into the job market at this time is daunting.

I am in a similar boat. I hate my job and everybody there, but the thought of finding something after being in the 'sheltered workshop' for fifteen years makes me think no one will take me seriously anyway.

I live very frugally as all spare money goes into racing, when I sold my previous race sidecar it was amazing how quickly my savings built up while waiting for my new one.

Jeff

:rocket:

[rovercare]

Oh, the best one I tell people, is "find hobbies that either make money, or save money"

I spent a lot of years wrecking rangies and doing engine conversions, which then afforded me to play with my own toys.

Hobbies that burn money, do just that

[Tombie]

I live very frugally as all spare money goes into racing, when I sold my previous race sidecar it was amazing how quickly my savings built up while waiting for my new one.

Jeff

:rocket:

Only thing that matches for cost I think is being a boat owner :eek:

[JohnF]

Landlines, waste of money, full stop and not needed unless you have a fax

landline is very cheap when you do not have a mobile phone like us.

Shopping, buy in bulk, know your prices and buy on special. thinking you "can't afford" to be in bulk is no excuse.

Yes buy in bulk as long as it is stuff that keeps. You may be able to split bulk buys with friends--ask around.

Insurances in general, I personally think people overinsure everything down to there dog and cat, not necessary, waste of money, private health? lots a whole nother topic, but do you really need it?

agree

There is heaps you can do to save bucks at home

False economy, chickens....feed vs eggs, unless you can sell your eggs to recoupe costs, 4 isa browns will eat a bag every 4-6weeks, that's 4 dozen eggs worth right there, so you need to sell the excess or eat a lot of eggs!, vegie patches, very time consuming, be sure its not just a pipedream, these things can save money, but can cost aswell. vegies, you must adapt diet to seasonal food aswell to actually make a real saving

Chooks can have more than one use. Google "Chook tractors." A quick look did not find what I have seen used, and the chook tractors I saw did not have wheels as in some I found by google. A chook tractor is when yo have a movable chook yard. The chooks convert your compost, grass clippings, etc. into manure, fertilizing the ground ready to grow a garden, scratch up and eat all the weeds and weed seeds, etc. Then you move the chook yard and chooks further on, and plant your garden in the ground the chooks prepared. So eggs is definitely not the only reason to have chooks.

Its all about return on your investment, measure that and everything makes financial sense [it is not just return on investment, a chook tractor could save you lots of work preparing a garden bed, etc.]


......

[UncleHo]

A boat! they are known as "An expensive hole in the water" ;)

[p38arover]

Why is it so? Are people expecting more than we older people did/do?

I never earned big money and certainly less than many on here.

My wife and I are retired living on our superannuation and a small part-pension yet we haven't needed to cut back. We go out for coffee every morning, we can afford to go out to dinner, we have three cars and a motorbike, we can afford to go on holiday whenever we like.

We don't owe any money except what is on our credit cards and they are paid off in full every month.

We paid off our house some years ago.

[rovercare]

We paid off our house some years ago


Why is it so? Are people expecting more than we older people did/do?

I never earned big money and certainly less than many on here.

My wife and I are retired living on our superannuation and a small part-pension yet we haven't needed to cut back. We go out for coffee every morning, we can afford to go out to dinner, we have three cars and a motorbike, we can afford to go on holiday whenever we like.

We don't owe any money except what is on our credit cards and they are paid off in full every month.

.

Just a correction, that helps enable the rest:D

[superquag]

The two happiest days of my adult life....

The day I took delivery of my boat, and,
- the day I sold it !

[debruiser]

Why is it so? Are people expecting more than we older people did/do?

I never earned big money and certainly less than many on here.

My wife and I are retired living on our superannuation and a small part-pension yet we haven't needed to cut back. We go out for coffee every morning, we can afford to go out to dinner, we have three cars and a motorbike, we can afford to go on holiday whenever we like.

We don't owe any money except what is on our credit cards and they are paid off in full every month.

We paid off our house some years ago.

I think you've done well to be in that situation. I feel (and that is just what I feel, not judging or complaining) that the cost of housing is killing the family budget these days. My parents bought their most recent house 10 or so years ago for a quarter what they would sell for now.... that means that everyone like myself who bought in the last couple of years is now paying 4x the interest on the old bank loan... makes a big difference... If I didn't have to pay the house off, I would be ROLLING in money :D

[rovercare]

I think you've done well to be in that situation. I feel (and that is just what I feel, not judging or complaining) that the cost of housing is killing the family budget these days. My parents bought their most recent house 10 or so years ago for a quarter what they would sell for now.... that means that everyone like myself who bought in the last couple of years is now paying 4x the interest on the old bank loan... makes a big difference... If I didn't have to pay the house off, I would be ROLLING in money :D

People have short memories, 18% homeloans anyone?:D

[p38arover]

myself who bought in the last couple of years is now paying 4x the interest on the old bank loan... makes a big difference... If I didn't have to pay the house off, I would be ROLLING in money :D

You'd be far worse off if you were paying the interest we were: 18%

[loanrangie]

You'd be far worse off if you were paying the interest we were: 18%

Yeah but houses were less than 10% of what they are now so i reckon its all relative.

[p38arover]

Yeah but houses were less than 10% of what they are now so i reckon its all relative.

My house is not worth 10 times what it cost me to buy in the Eighties.

And what is the wage comparison? When we bought our first house in 1971, I was on really good money of $100 per week. My wife's wages were not considered by the bank, she didn't count.

Also, we made do with smaller houses, old cars, secondhand furniture, no holidays, no fast food, etc. I have little to no sympathy for those who overcommit and are now complaining of how tough things are.

[jerryd]

You'd be far worse off if you were paying the interest we were: 18%

I remember it well :eek: Still happy days now :)

[Mick_Marsh]

Ah, yes.
Tightening the belt indeed.

For those who don't know, Mickey_Marsh has fallen on hard times. I'm tightening the belt.
Yep, counting pennies and doing budjets. My budget is currently in deficit. I am living from pay cheque to pay cheque. I may have to sell one of my children soon. Which one will go first? I'd like to think the Commodore but I need that. Probably the hybrid 100".
Yep. You can see it out there. Even the Reject Shop has downgraded their expected profit.
Cookies must be enabled. | The Australian (http://www.theaustralian.com.au/business/profit-loss/pacbrands-reject-shop-prompt-downgrade-fears/story-fn91vch7-1226949903450#)

[p38arover]

About the only major expense we have (apart from holidays) are our daughter's Uni fees (she's doing medicine).

[Mick_Marsh]

About the only major expense we have (apart from holidays) are our daughter's Uni fees (she's doing medicine).
And power unless your using a clockwork computer by candle light.

[p38arover]

I'm always in credit on power owing to the 60 c/kWh FIT on my solar generation

[Shackleton]

Amazing conversation!

Just a few thoughts from my humble and limited experience. Like Trog and Superquag were saying, health helps deal with tough times.

Spent about a year in Amsterdam on the breadline. It was tough but the quality of life was still good for two reasons:

1. The Dutch are very good at culturing and entertaining themselves for free. There's always someone organising something for the sheer love of that thing - as someone already said: find hobbies that cost nothing or actually generate money. (holy grail that last one)

2. Cycling. If you nip to the shops, it's on the bike. If you go visiting, it's on the bike. Rain hail and yes, actually in the snow and ice. I was more motivated and fitter than ever. And we're talking a normal old high nelly type bike. Brilliant that OP is cycling to work :) (speaking of OP, how is lunch only $20 a week? Last time I was in Bris I could have eaten that in 2 lunches)

Spent 4 months living entirely at sea on an expedition yacht, refitting it as we went. That was a lesson in self sustainable cheap living. I'm not saying a boat is the answer, just that the living habits you develop are brilliant and easily applicable to normal life for great returns. Having to 'make' water trains you to be very frugal with it, and you realise you just don't need nearly as much for day to day **** as you'd expect.

You can build your own solar panels, granted it's not easy to do it cheaper than buying them, but solar is a great thing. Def for you Aussies with the climate. Also water butts. Ok so on land you can't use salt water to supplement, but you can use rain - if you get any.

We built a herb garden onboard complete with wormery to keep the soil enriched. And fished, obviously.

Mend and make do. This disposable culture we have now is bull****, and there was no place for it at sea. Everything was repaired, reused, repurposed or recycled.

Spent 3 months living in my RR, twice. Intentionally I should point out (surfing) but again, cooking on a budget, washing in creative ways, and I'm a clean person if you're wondering. Taking opportunities wherever they came up. Getting back to basics like that is gratifying on a plain human level.

I'm in the ****house again at the moment, and about to do an unmerciful streamlining. All this material stuff clogging up my days has to go. And it'll be difficult to do but I know I'll feel better when it's gone. Like a weight's been taken off.

But as a parting shot... It only takes the selling of one beloved vehicle to leave you regretful for years and years afterward. I'm sitting on all the wheels I have left, no matter what ;)

[rovercare]

And power unless your using a clockwork computer by candle light.

He is on a high feed in tariff solar, that's not a concern to Ron

ALso I agree, no pity for those that overcommit

Its simply really, Need more more, you either spend less or make more:D

[Dave_S]

Someone above asked why it's necessary to be looking at money saving strategies. I suppose I started this thread because, although I'm not in dire straits, my fairly modest lifestyle is potentially under threat. We are paying off the mortgage as quickly as possible, mainly because we want to be free of it and have more options. But we now also need to be aware of the fact that our jobs could disappear with very little notice and we need to be able to make at least the minimum payments.

Our lifestyle is under threat because virtually all of our costs, especially fixed costs are increasing, but our pay is not. We are just trying to find ways to maintain our quality of life without the need for further debt. If you eliminate unnecessary spending (and many people have a lot of that, including us), you can make your available pay go much further.

I suppose we are in this situation partly because we both spent a lot of years travelling around the world, doing different things and enjoying life while we were young. I could have stuck with my original career path, made buckets of money and spent my whole life in an office. But I didn't. Like other posters, at least I know what it's like to live for months with just a bag of moth eaten stuff. I once spent 3 months in North Africa on $6 a day.

At least the travel experience taught me how to manage available funds. I never travelled on credit and have no credit card debt today. I do use a credit card, but only as a tool. I keep the balance at $0.

Someone asked how I only save $20 a week in Brisbane by not buying lunch. Basically I estimated the amount of groceries that I will have to buy to make a week's worth of lunch, then took that off what I spend on lunch. Groceries in Brisbane are now stupidly expensive. I'll be having a look at saving some $$$$ there soon.

It's interesting to hear what people think about all this. A lot of people don't like to talk about money and most of us seem to be in reasonably good financial shape. But these days costs are increasing, real wages seem to be deceasing, jobs are harder to find and we are living longer on less. Sacrifices have to be made, but I'd rather it be coffee and toast than my Land Rover.

[trog]

there is no easy or right answer. some will blame one thing or another ,wages for example , but as the economic model relies on ever increasing spending and profits, in the end something will break. if the population is to continue to grow , expectations must decrease as in physics you cant create or destroy matter, use what you have. if western society jobs keep getting slashed and or casualised to make way for those in a different socio economic system we then have to ask , do we join them ?

[rovercare]

I get asked why I put so much effort in financially, "you could be dead tomorrow"...

You know what is worse than being dead tomorrow, living till your 85 with no money for the last 30 years of your life:D