My wife and I have been lucky so far in that inflation has only affected our food prices and we both work OT when available. November marks our second year in the house we rent, but I asked for a 2 year extension after the first year so we have the same rate for the next 14 months. I quit driving, and my wife has never driven. Her Employer is a major hospital which donates enough to mass transit so that she rides the bus for free while I had a discount disabled ID and now am 65 so I ride the bus for 33 bucks a month and I probably spend 50 a month average on Uber going to work when the weather's bad and coming back with groceries I don't want to lug on the bus. Heating gas went up a bit, but manageable.
I do feel bad for the people having to make tough choices because of the inflation though. Gas is 3.79 a gallon here, cars and homes are crazy expensive, and interest rates on debt has soared.
We were affected by the COVID lockdowns, living in my wife's country and being separated because they stopped passenger travel between Islands and my wife had a family emergency. We basically came back to the USA with a few suitcases and a moderate amount of savings left.
I'm sure things are going to get worse before they get better, and the only advice I can give is to earn as much as you can and cut out all luxuries. A 10 dollar meal at home costs 50 going out. If you have more than 3-4 pair of shoes, 10 shirts, and pants, maybe don't buy more. there's 168 hours in a week. At 40 hours you are working less than 25% of your time. OT, Side gigs, hobbies you can make money from are ways to boost income. Stock up on food!
Praying that God will reach out and stop the demons soon. Things have picked up pace significantly since the mid-terms and many more are awake.
Great information. I found, though, that most people find it difficult to give up their lifestyle that they have become accustomed to, so they spend the money they would normally spend no matter what. It takes a lot of determination to do what you say, if people haven't been living like that for a long time, but it can be done. Thanks for the advice.
I'm thrifty not cheap. Filet Mignon is my favorite, but buying one as a treat and cooking at home for 15 bucks for 12 oz is much better than 50 bucks for an 8 oz one in a restaurant. If you view purchases by the time it took to earn the money it helps lol.
They lowered the quality of diesel by refining the sulfur out, but now they are spraying sulfur dioxide straight into the atmosphere to fight "climate change". It's pure insanity
So what you are saying is that you are the embodimet of Klaus Shwab's "you will own nothing and you will be happy." Is that it?
The better plan is to own everything outright and owe no one anything that can't be paid in 30 days.
I have owned my very spacious house outright in New England for ~ 10 years, paying off a 30 yr mortgage in 15 yrs by paying down added principal each month. I own all 6 of my cars (4 of them muscle car classics), I use them in my business so repairs made to them (alot cheaper that made to EV's - that's for sure) are business expenses.
My wife and I had 4 kids - all put through college, and each are gainfully employed with their own families, so I am not underwriting any of them them or putting them up in my finished basement.
I pay credit cards in full each month.
My wife is my business partner and we eat out ~ twice a week.
Paying down debt promptly, disciplined spending, and owe no one anything = freedom.
I am debt free except money I owe that earned me welcome bonuses. I have extended 0 APR on all 3 cards its spread over. Debt-free isn't as attractive to someone without assets to be seized. I have lived debt free and also leveraged my over 800 credit score.
Latest purchase netted me 200 welcome bonus and 15 bucks for the thousand I had to spend. 0 APR for 21 months... The thousand was spent on real money... So I ended up well below Spot... Currently spending 0 on non-essential things, as I always do when I need to and will likely pay off and use the 0% interest several times before the 21 months is up.
I admire your achievements, I paid off my starter home in a shit city in 16 years, lived there 2 more years then sold it at bought a condo. I have lived in 4 condos one at a time and paid cash. I only had a HELOC on the first condo when I moved and kept it as a rental I had 2.74% for most of the life of the HELOC and used it several times during the 10 year borrow phase. I loaned out 75% of the capacity at 14.57% holding a mortgage, then another time loaned out 25% of capacity at 18%. I also used it in several other ways.
I don't have a lot of assets, but I never craved them ether and haven't been broke since I was a child. Retired early abroad and got screwed by the whole COVID thing. I will return abroad when this all has turned around. My wife will have her own SS and 403B money and I built her a house in her country paid in full. No kids to leave anything to, I don't intend to live in misery while the medical machine drains me quickly in the hospital or slowly in the nursing home.
Everybody has their own goals and they can be equally valid.
You are reading me wrong. I sold my several low-end condos and moved abroad and built a home. Back in the states due to the COVID BS. I have no one to leave property to, and my wife has the house I built for her when she retires. I'm 65 and houses here are close to 500K used older than I am. I rent at 1995, to buy that home would cost 4,000 a month in payments, taxes, insurance, and upkeep.
My wife and I have been lucky so far in that inflation has only affected our food prices and we both work OT when available. November marks our second year in the house we rent, but I asked for a 2 year extension after the first year so we have the same rate for the next 14 months. I quit driving, and my wife has never driven. Her Employer is a major hospital which donates enough to mass transit so that she rides the bus for free while I had a discount disabled ID and now am 65 so I ride the bus for 33 bucks a month and I probably spend 50 a month average on Uber going to work when the weather's bad and coming back with groceries I don't want to lug on the bus. Heating gas went up a bit, but manageable.
I do feel bad for the people having to make tough choices because of the inflation though. Gas is 3.79 a gallon here, cars and homes are crazy expensive, and interest rates on debt has soared.
We were affected by the COVID lockdowns, living in my wife's country and being separated because they stopped passenger travel between Islands and my wife had a family emergency. We basically came back to the USA with a few suitcases and a moderate amount of savings left.
I'm sure things are going to get worse before they get better, and the only advice I can give is to earn as much as you can and cut out all luxuries. A 10 dollar meal at home costs 50 going out. If you have more than 3-4 pair of shoes, 10 shirts, and pants, maybe don't buy more. there's 168 hours in a week. At 40 hours you are working less than 25% of your time. OT, Side gigs, hobbies you can make money from are ways to boost income. Stock up on food!
Praying that God will reach out and stop the demons soon. Things have picked up pace significantly since the mid-terms and many more are awake.
Gas here has risen to high $5 and over $6 in some nearby areas.
Your advice is sound, you have prepared your home and selves well!
$4.77 here
Great information. I found, though, that most people find it difficult to give up their lifestyle that they have become accustomed to, so they spend the money they would normally spend no matter what. It takes a lot of determination to do what you say, if people haven't been living like that for a long time, but it can be done. Thanks for the advice.
I'm thrifty not cheap. Filet Mignon is my favorite, but buying one as a treat and cooking at home for 15 bucks for 12 oz is much better than 50 bucks for an 8 oz one in a restaurant. If you view purchases by the time it took to earn the money it helps lol.
I drive my diesel truck everywhere out of spite
LOL great! Diesel engines are very long lasting. Diesel fuel should be cheaper than gas as its less refined, it used to be.
They lowered the quality of diesel by refining the sulfur out, but now they are spraying sulfur dioxide straight into the atmosphere to fight "climate change". It's pure insanity
So what you are saying is that you are the embodimet of Klaus Shwab's "you will own nothing and you will be happy." Is that it?
The better plan is to own everything outright and owe no one anything that can't be paid in 30 days.
I have owned my very spacious house outright in New England for ~ 10 years, paying off a 30 yr mortgage in 15 yrs by paying down added principal each month. I own all 6 of my cars (4 of them muscle car classics), I use them in my business so repairs made to them (alot cheaper that made to EV's - that's for sure) are business expenses.
My wife and I had 4 kids - all put through college, and each are gainfully employed with their own families, so I am not underwriting any of them them or putting them up in my finished basement.
I pay credit cards in full each month.
My wife is my business partner and we eat out ~ twice a week.
Paying down debt promptly, disciplined spending, and owe no one anything = freedom.
I am debt free except money I owe that earned me welcome bonuses. I have extended 0 APR on all 3 cards its spread over. Debt-free isn't as attractive to someone without assets to be seized. I have lived debt free and also leveraged my over 800 credit score.
Latest purchase netted me 200 welcome bonus and 15 bucks for the thousand I had to spend. 0 APR for 21 months... The thousand was spent on real money... So I ended up well below Spot... Currently spending 0 on non-essential things, as I always do when I need to and will likely pay off and use the 0% interest several times before the 21 months is up.
I admire your achievements, I paid off my starter home in a shit city in 16 years, lived there 2 more years then sold it at bought a condo. I have lived in 4 condos one at a time and paid cash. I only had a HELOC on the first condo when I moved and kept it as a rental I had 2.74% for most of the life of the HELOC and used it several times during the 10 year borrow phase. I loaned out 75% of the capacity at 14.57% holding a mortgage, then another time loaned out 25% of capacity at 18%. I also used it in several other ways.
I don't have a lot of assets, but I never craved them ether and haven't been broke since I was a child. Retired early abroad and got screwed by the whole COVID thing. I will return abroad when this all has turned around. My wife will have her own SS and 403B money and I built her a house in her country paid in full. No kids to leave anything to, I don't intend to live in misery while the medical machine drains me quickly in the hospital or slowly in the nursing home.
Everybody has their own goals and they can be equally valid.
You are reading me wrong. I sold my several low-end condos and moved abroad and built a home. Back in the states due to the COVID BS. I have no one to leave property to, and my wife has the house I built for her when she retires. I'm 65 and houses here are close to 500K used older than I am. I rent at 1995, to buy that home would cost 4,000 a month in payments, taxes, insurance, and upkeep.