Comments on: Help a Reader: “How can I maximize my money when I feel like there’s never enough leftover to save?”

By: J. Money

J. Money — Thu, 12 Dec 2013 14:17:02 +0000

In reply to Justin. Wow, great idea for a site! Switching cell phones and carriers are just no fun at all, but you're totally right it can save you some major bank if done well... Funny how we're all so used to paying $100+ with our fancy phones when we were just as happy with old school candy bar styles at $30/mo back in the day :)

By: Justin

Justin — Wed, 11 Dec 2013 04:59:48 +0000

Consider breaking your cell phone contract and switching to a cheaper pre-paid option with an MVNO carrier that uses the same network as your current carrier. MVNOs charge WAY LESS and give you basically the same cell phone service.

Ting’s good and so is Republic Wireless–just a couple of my favorites based upon my own and friends’ experience.

I was in three cell phone contracts with Sprint but didn’t want to pay $670 of early termination fees for breaking my contract. Then a friend suggested Cellbreaker.com. WHAT?! That exists?

Yes. They broke my Sprint contracts, saved me the $670 ETFs, and now I’m saving even more with a $25/month plan from Ting (I had been paying $175/month).

Go get ’em, girl.

By: J. Money

J. Money — Tue, 19 Nov 2013 22:02:54 +0000

In reply to Kristie. Thanks! That's certainly my intention with this blog, so I'm glad it's coming off that way :) There's too much nastiness out there in this world, and I def. don't want to be contributing to it.

By: J. Money

J. Money — Tue, 19 Nov 2013 22:01:44 +0000

In reply to Lanny. Glad this helped, friend!! Thanks so much for being open to me sharing it with everyone and getting feedback :) It's what helps make this blogging world of ours so GOOD. Real life situations from real life people! Please keep us updated as time goes on. And good luck!

By: Dollar Flipper @ Flipping A Dollar

Dollar Flipper @ Flipping A Dollar — Sun, 17 Nov 2013 11:46:44 +0000

I know the restoration is nice to have, but of were you guys if focus on debt reduction now instead of construction to the house. This would be a twofold increase because you would not only have more money (since you wouldn’t be spending it on building materials), but you’d also have more time which you could then spend hustling like J Money talks about! You guys seem overcommitted right now!

By: Lanny

Lanny — Sun, 17 Nov 2013 05:47:51 +0000

Hi everyone! Thanks so much for the input! It’s so awesome to have a community of people willing to pitch in with their own success. Fresh eyes make all the difference!
I’m 30 and my husband is almost 37 (with sterling credit, I should add) so I know we’re not ridiculously late to the game, but I as a nanny-turned-teacher-turned-travel professional, retirement investments feel like a luxury (like the health insurance I grew up without) we can’t afford to go without. I started deferring 8%, but bumped it to 10% because I WAS accustomed to a once-monthly payday of $1100 as a private school teacher and would rather go without NOW instead of later.
I calculated the numbers today and discovered that, while we appear to have a generous income to work with, we net closer to $56,000 per year than the $74k gross salary. As a result of those lousy mortgage rates, we pay just under $1,000 per month on the loan. Because of his superb credit, my husband’s auto loan is under $200 for a 2008 vehicle – I own my 2003 vehicle outright and having one completely reliable vehicle is a must for us – I work 40 miles from home and spend $50 per week on fuel. Fortunately, I found out that this will be changing soon and I’ll be free to work remotely, cutting that cost entirely (and the full coverage insurance I require for my vehicle)
At the risk of sounding gross, I feel like I should also add that I am in the habit of showering every-other day (at most) already .. as a curly-haired gal, I can’t wash it more than once a week anyway.
I should also link to my home renovation blog to give folks a sense of perspective on what kind of work we’d be “putting on hold” and what the quality of living might cost: usversusthehouse.blogspot.com
Without going into details, I’ll mention that I knew exactly what happened with my credit, but I just didn’t have the energy to pursue legal action after all I’d already been through.
I’d love to rent out a portion of our house, but as you’ll notice from our blog, I’m disinclined to believe it’s a real option. Since replacing the furnace, we have noticed significant savings in our heating costs. Because of our history with the old furnace, we are in the habit of programming it to the lowest possible setting while we’re away and only “crank it” to 65 when we’re home and reduce to 60 for bedtime. We’re big on extra layers and socks.
I guess my fear stems from my experience of periods of deep financial hardship – as a child, my two sisters and I shared a single bed in the back bedroom of my great-grandmother’s house after we moved from Orlando to Spokane, WA because it was the only room with heat. The following spring, insulation and other essential upgrades were immediately implemented to ensure we had adequate amenities for, y’know, living, but I’ll never forget the ice on the inside of the windows.
As someone with that background, I would suggest that I’m anal about my spending and err on the side of caution for all monetary issues. We have a plan to refinance soon as soon as I’m able to sign on the loan. I’ve started utilizing all the resources that USAA has to offer so that I can track my spending and identify where we need to trim things up. I keep track of both of our credit scores and spending habits with Credit Karma and Mint as well.

If anyone has any additional ideas, I’m all ears!

Many thanks to all the readers and to J for facilitating this conversation!

By: Kristie

Kristie — Fri, 15 Nov 2013 19:53:40 +0000

In reply to J. Money. I love finance and people, and I dig writing! So thanks for giving me (and all of your readers) the opportunity to chime in. I did, however, forget to note in my comment that my Disney dividends, which were pennies in the beginning, have paid for about half of my initial investment. Oh, and I did retire two years ago at the age of 45. Lots of Disney scenarios. ; ) Love your upbeat take on finance!

By: Jacob

Jacob — Fri, 15 Nov 2013 19:00:15 +0000

In reply to J. Money. Happy to help :)

By: J. Money

J. Money — Fri, 15 Nov 2013 16:46:43 +0000

In reply to Jacob. I'm glad you chimed in here because you have PLENTY of background experience to know what it's like to be on the other side of the coin. So thanks for doing that man, means a lot.

By: J. Money

J. Money — Fri, 15 Nov 2013 16:42:52 +0000

In reply to Kristie. This made me smile :) Thanks for chiming in and sharing!