Beginner in the House

[shelbylovesmelby]

Re: Beginner in the House

You have got to be a consultant SLM, you impress me more with each response!

Thanks.

No consultant @ all. I used to be a teller @ a credit union for about 6 years & I wore many "hats". I've done things from basic tellering, automatic clearing house, payroll, ATM, and LENDING.

Alot of it is just things I've observed people doing & things I've heard or done.

[Ima saver]

Re: Beginner in the House

We have something on here called the $20 challenge. we start with $20 and then aim to bring that total to $5000 in one year. Anything you can do to get extra money counts. I save all the money that I get from using coupons and my store advantage card. I save any money I get from taking surveys. I save the money I get using free coupons. If my elec. bill is under budget, I take the rest of the money and add to my challenge money. I ask for a percentage of my bill back at a local building supply place.
Any extra money I bring in or save, i add to this challenge money. so far, I have accumulated over $16,000 this year in my challenge.

[shelbylovesmelby]

Re: Beginner in the House

Wtg! Ima Saver!

[Mathew Green]

Re: Beginner in the House

I'd prefer not to go the loanshark route SP, it scares me! I plan to save about R20 000 and use that as a chunky deposit on my car.

In that case I suggest you start setting aside whatever amount you think your monthly car payment will be plus the estimated cost of insurance, gas, upkeep, license tags, and all that other stuff. By putting that amount in a savings account every month, you'll have your chunky down payment saved up in no time, and you'll also go into the purchase knowing that you're able to handle the ongoing car expenses.

(My thanks to whoever posted this idea originally. It's pure genius!)

[getforfree]

Re: Beginner in the House

If you will be getting any gifts for holidays, let them know that you are saving for a car, and you prefer to get money instead of a gift and that will go towards saving for a car.

This forum has tons of saving tips, I am sure you will find more ideas.

[Otacon]

Re: Beginner in the House

Thanks for letting me know Ima Saver, that's something I'll definitely set as a goal

[Otacon]

Re: Beginner in the House

Thanks getforfree, flattery will get you EVERYWHERE!

[Otacon]

Re: Beginner in the House

In that case I suggest you start setting aside whatever amount you think your monthly car payment will be plus the estimated cost of insurance, gas, upkeep, license tags, and all that other stuff. By putting that amount in a savings account every month, you'll have your chunky down payment saved up in no time, and you'll also go into the purchase knowing that you're able to handle the ongoing car expenses.

(My thanks to whoever posted this idea originally. It's pure genius!)

Thanks Mathew Green, flattery will get you EVERYWHERE!

[Otacon]

Re: Beginner in the House

We have something on here called the $20 challenge. we start with $20 and then aim to bring that total to $5000 in one year. Anything you can do to get extra money counts. I save all the money that I get from using coupons and my store advantage card. I save any money I get from taking surveys. I save the money I get using free coupons. If my elec. bill is under budget, I take the rest of the money and add to my challenge money. I ask for a percentage of my bill back at a local building supply place.
Any extra money I bring in or save, i add to this challenge money. so far, I have accumulated over $16,000 this year in my challenge.

Very nice idea, it's something I'll definitely be setting as a goal, thanks!

[lieweheksie]

Re: Beginner in the House

hi
R20 k is a good deposit
good advice here- save the cost of the car and all the xrta's- and put in a 32 day notice account- enough so that you cant spend it and short enough to get it when you need
are you buying new or 2nd hand- make sure it isn't stolen if 2nd hand-you can lose the car and all your money if found in possesion- very reputable dealers only- no guys on street corners- even if you know them http://www.savingadvice.com/forums/i...cons/icon7.gif
remeber "goedkoop is deurkoop"(translation: what's cheap can often turn out to be very expensive)
let me know what you're thinking of getting and good luck
rgds
LH
in rainy JHB

[Otacon]

Re: Beginner in the House

Thanks for the tips hun.
I'm actually struggling to save, all these things keep popping up each month holding me back, although, admittedly many of these things are not neccessities!
I agree with you on guys on street corners or private sales, it's a BIG no-no.
I'm planning on buying a second hand Toyota Corolla 160i (I love Toyota).
Joburg? I'm from sunny Cape Town - just a stone through away
Thanks for the translation but,
dis nie nodig nie

[mom-from-missouri]

Re: Beginner in the House

Don't forget the small things. I just heard on the radio that if you spent a $1 a day on soda, and stopped doing that, after a year, you would have lost 13 pounds, and saved $365 if you put the money in a jar, more if you put it in savings or invested it. Then they were doing things like adding in the cost of cigaretts, or buying popcorn at the movie, renting a movie instead of going out to one....All that they mentioned were little things-and by the end of the year they had over $4500 dollars. I can't remember them all, but some were using dial up instead of DSL, using bill pay instead of mailing bills (saving postage), sending in an extra $5 everymonth on credit cards and house payments (saving interest), buying potatoes in the bag instead of mashed instant or frozen fries, ground beef instead of ground chuck, curbing eating out vs cooking it at home from scratch, driving slower, doing some simple maintance on your car yourself such as changing your own wiper blades ($7 each vs $35 from the dealer), pumping your own gas, eating 1 meatless meal a week-using beans or eggs in place of meat, taking your own lunch (savings of up to $7 a day in some parts of the country), keeping the thermostat a little lower in the winter, and higher in the summer, shutting registars off in unused rooms, using powered milk for cooking, using CF bulbs, combining insurance (home and auto) to one company for discounts and raising your deductables and asking for nonsmoking rates & other discounts... They named off 100 simple things anyone could do and the $$ saved for each one, and came up with $4500.
Then, they pointed out that by saving more, you also could earn more interest if you banked it, or avoid bounced check fees and increase that $4500 by even more yet.
The person who called it was amazed--they had not thought of half of these things, that we all have made habit.