The Frugal Goose

This is somewhat of an anti frugal post, but I seem to be using a lot more paper towels these days. I’m not sure if this is some kind of amazing American culture revelation or just me being an OCD clean freak. Either way I notice a lot more use of paper towels, paper napkins, etc. these days. Are we feeling the need to become a cleaner society? Whatever happened to the whole green movement and using less resources?

Anyway, if you must have your hands be constantly clean like me, go with the cheap generic paper towel brands. I’ve had the same if not better success with these over pricey name brand textured or thicker paper towels. Often if you buy in bulk as in 3+ rolls it ends up being cheaper than a single roll. I’d say a saving of 10-20 cents per roll on average. Paper towels in general are really just handy tools in the kitchen, I don’t think I can go without them. 

Organic fruits–is it better to buy it at an organic grocery store or at a wholefood sale’s club?  On average the price for fruit these days is around $3/lb.  That’s pretty pricy fruit compared to a whole bag of small apples you can get for $3.  At $3/lb. you could probably get 1 to 2 apples.  If you buy say 3 apples, depending on the size, don’t be surprised if you’re paying $5 to $6 just for apples.  But, if you go to a wholefood sale’s club you can get a whole bag of apples, generally around 5lbs. for about the same price.  So, instead of buying the shiny pricy apples at your local organic store, you might want to consider your local wholefood sale’s club–you’ll get more for your money. 

Ever wander into your local grocery store only to find restaurant quality food available by the pound or portion? Its usually pretty reasonably priced and most grocery stores sell premade entrees, appetizers, side dishes, and salads. I won’t argue for or against going out, but a quick trip to the grocery store when in need of a quick dinner can save a few bucks and taste much better than calling out for pizza.

I’ve also found high end organic stores like Whole Foods to have a really big selection of such premade fresh foods, most being very gourmet. It probably varies based on where you live but try this next time you feel like dining out but not breaking the bank.

I know we’ve all seen the expensive trendy waters in various places. Suppossedly coming from the tropical springs of Fiji or the crisp mountain springs of some scandanavian country like Norway. Whatever you happen to believe about these waters and whether or not they’re worth paying a premium, you can’t help but ignore they have become trendy, almost like fashion accessories. You want to be seen drinking a certain kind of water and thats the culture we live in.

But not all hope is lost! What I’ve done to save money while maintaining my celebrity image is buy one bottle of the fancy stuff and refill it from various sources such as filtered, tap or cheap spring water. It also saves the earth by refilling the bottle rather than constantly disposing of new ones. It works perfectly well to hydrate you and makes your brain believe you’re drinking premium water, while  fooling others into believing you actually spend $3 on a bottle of water. Try it out and you’ll see my point.

Recently I had a hmm moment realizing how much of my monthly expenses were really going toward services, some that I didn’t need. You have things like cable, cellphone, perhaps lawncare as your bigger expenses. Then it starts trickling down to smaller services, for example netflix, an online photo service like flickr, music subscriptions, etc.

The internet has tons of niche web based services available to people amounting to a mutimillion dollar business. The real question is what did people do before the internet? Do we really need some of these services we’re paying for?

 True, they may be a convienience but this is the first place to look when trying to fix your financial leaks. You may overlook that $5 or $10 subscription to whatever but it’s going to add up, so get rid of it unless its absolutely essential to your everyday life.

This brings up another point I was thinking about and thats why we feel a need to do so many different tasks often simultaneously on a day to day bases. You’re in your car, you’re talking on a cellphone, you’re listening to the radio, you’re DRIVING, you’re eating a sandwhich or drinking something, you’re putting on/ checking makeup (applies to most girls and some guys). This is one common example of what I’m refering to.

But is it really necessary? Are you really getting the most of out the million tasks you hope to accomplish? Back on the example in the car, what youre doing is not really driving because its unsafe and could lead to an accident, eating  or drinking fast on the go could cause some health issues, and trying to have a conversation like this really ends up not being very meaningful or concentrated, so whats the point?

I think we often subscribe to some of these services because we feel they help us to accomplish some task or fill some small void we think needs to be filled and the financial trade off is really not much.

You can get more important things done by concentrating your energy on what really matters and eliminating a lot of the unnecessary things like the microservices. You will also notice you have more money to accomplish the more important things and do so better.

Europe in general is one of the best places in the world to visit. With so many different countries, cultures, and history you can spend a few months just traveling through some of the cities. Many people have become inspired and motivated to do great things after spending time in Europe, for example the founder of Starbucks coffee company who has said to have gotten his idea from the world famous Italian cafes.

Being somewhat familiar with travel in Europe I can say that it can be either very affordable or very expensive depending on the city you’re in and how much comfort you’re willing to give up. If you’re on a budget but dream of doing some travel through Europe check out some of these tips for finding cheap lodging. I can verify some of these myself. Its also pretty customary to bargain for things in most parts of Europe so use this to your advantage by letting people know you’re on a tight budget but want their goods and services. Respect can buy you a great discount in Europe as well.

check out this article from Rick Steves who has written a lot about this topic: http://www.ricksteves.com/plan/tips/tipssleepcheap.htm

No matter how old or young you are, chanes are you need loans to purchase the things we all need but take for granted. Cars, housing, high priced electronics/appliances, etc. Most people that need these things don’t pay cash for them. The problem usually starts early on for young people who can’t manage their finances and find themselves in a credit hole when it comes time to get loans for these things.

However all hope is not lost. Lenders want to give you money, its how they make their living. Merchants want to sell you their goods, its common sense. Its upto you to improve your credit score in order to get loans for these things. There are many ways to do this, but we will try to start out talking about some of the more simple ones.

A secured loan is a loan that can be issued by your bank with the understanding that you are giving something as collateral. It could be your car, house, or to make it easy just some cash upfront. Its kind of a way to get your credit score up on your own terms by being responsible and making the payments on time. So you put up an amount of money you have and are willing to sacrifice temporarily. Setup a payment schedule with the bank. Pay the loans back and your credit score will continue to improve. There’s no reason to keep yourself in a credit hole!

Here’s an article that has some more detail: http://ezinearticles.com/?Improve-Your-Credit-Score-with-Bad-Credit-Secured-Loan&id=263295

Came across this Fool.com article and think its worth a read. A lot of us overlook the little holes in our finances which slowly and unnoticeabley drain our funds. The article makes a good analogy to a tire with a small pinhole that slowly but surely lets out the air. There’s some obvious points about not carrying a balance on your credit cards, and putting your money into higher interest bearing accounts.

Funny that just by not doing this you’re technically losing money. This is you technically losing out on potentially free money 24-7! Don’t let your laziness and procrastination get the best of you, spend a few weeks doing your research and it could raise your savings significantly over the course of several years. A wise investment of time converting into potential money. Investing in some good stocks and bonds is probably a good bet. This of course can prove daunting so you will want to work with someone who knows what they’re doing. Think of it this way, the service fees you pay compared to potential earnings, savings, etc.. are fractional.

Click here for the full article!

I think when it comes to trading, espcially online, theres a few things that have to be kept in mind to get the best outcomes for both parties. Mine are:

1. Always know the monetary value of your item as well as the item you’re trying to trade for : With the power of the internet this should be a no brainer. Always check the prices on sites like ebay or just by doing a google search.

2. Always know the make, model, code, sku, isbn, etc. numbers : This is another key thats somewhat related to the first point. The applies mostly to consumer items such as electronics, appliances, computer items, etc.. Also offer this information for anyone interested in your item. It makes things a lot more transparent and even in the long run.

3. Include your general location and your max willing to travel distance : Some people overlook this, but I think talking about locations and distances right away can close a trade pretty quickly. No one wants to travel half way accross town to trade a lower priced item, but knowing someone can meet within 10 minutes driving distance has been a huge factor for my willingness to trade.

4. Save phone contact until you’re sure the other party is serious : No one wants to give out their phone number to strangers, especially online. However, phone contact is important to any trade. If you’re uncomfortable, ask if the other person can give you their number just in case you need to talk prior to meeting for the trade.

5. Be as courteous and friendly in person as possible : Again, seemingly a no brainer, but theres nothing inherintly normal about meeting random strangers to exchange items. However, by being formal, honest, and business like about your item, you make the other person feel very comfortable and in effect form a connection for possible future trades. I think on larger priced items its also courteous to send a follow up thank you email.

Everyone has opinions on IRA’s. The one thing everyone agrees on is you should open one as soon as you can. Here is an article offering four basic tips for begginners to open an IRA. In a nutshell:

1.  Look for a custodian that can help you diversify

2. Check the fees

3. How is customer service?

4. Learn about types of IRA’s (ex. self directed)

Click here for the full article