Save some dough?

By
Real Estate Agent with Century 21 Results Realty

Times are rough... they are rough for many of us... especially in the real estate industry.  We are finding our belts and sucking them in a few notches...  But not just in the real estate industry. 

Last night I was talking with some friends that are in the business of state and local government.  Furloughs, hours reductions and no raises are just some of the ways they are being affected...  Out in the private sector, pay cuts, layoffs and other cutbacks are all over the place. 

But that isn't news...

One can barely turn on the radio, TV or computer without seeing rough news about the economy... and the news is getting rougher.  Instead of stemming job losses with the "stimulus package", it seems that losses are still running heavily.  Increased governmental debt and looming tax increases are keeping businesses from expanding.  The dollar is remaining weak, keeping the cost of fuel high, despite lower worldwide demand. 

But there IS something that we can do about it...

We can save money.  Did you know that Google has multiple directories of resources to save money?  I didn't...  I know now, though.  From ways to lower food expenses to coupons and freebies... there are all sorts of resources for all of us to use to help us enjoy life while saving a few more bucks.  And even if we think the job is secure and our risk exposure is low, saving a few dollars can reap huge rewards...  Think of the amazing investment opportunities that are out there right now... from undervalued, but healthy companies that might be great to own stock in, to super deals on real estate for investment purposes...  Since the economy is tough, it is a buyer's market all over. 

This is the time when solutions can be found and the foundations will be poured for future financial gains.  And the first step is putting ourselves into a position to do something about it. 

The baby-step for financial security is saving money...  So, try this

If you are looking for that investment property in Gwinnett County, let me know...

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Kathy Clulow 07/14/2009 11:04 PM
Topic:
Lending / Financial
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Rainmaker
446,423
Vickie McCartney
Maverick Realty - Owensboro, KY
Broker, Real Estate Agent Owensboro KY

Hi Lane~ It is about time we learn to SAVE and NOT spend.  How many material things can you really use or need anyway?  There is NO excuse for being wasteful with any of our resoures and money is one of them! Can anyone that is tremendously in debt say that they enjoy it?  The truly happy people are the one's that have very little debt and have a cushion for emergencies should they arise. 

Jul 12, 2009 09:31 PM #22
Rainmaker
407,620
Karen Monsour
Coldwell Banker Fort Lauderdale Beach - Fort Lauderdale, FL
REALTOR, SSRS - Sells FL Waterfront, Short Sale Expert!

So many ways to save.  I've cut coupons forever, it's like cash in hand.  i don't go the grocery store that offen, however when I do, between the buy-one-get-one-free deals and the coupons...I usually save $50K a shop or at least 20% of my bill.

I also have sealed my windows.  My bill 3 years ago for electric was up to $244.00 a month for heat.  I have it down to around $80.00 a month.  I turn the A/C up to 78 when I leave.  I take advantage of the cooler nites and chill the house to around 74 when I get home.  This stays for most of the nite until the sun comes up.

I only do laundry when I have a full load.  Not a few pieces every nite or 2.

I don't waste food. If there are vegies getting to the end of their life...I makes some kind of soup with them.  I prepare food in bulk and freeze the extra for later.

If I can work from my home office.  I do.  I save printing flyers for a day when I know I will be at the office.

Just a few things I do...I would guess that changing my lifestyle has put about $400.00 a month back in my pocket...   :-)    Then again, I was always a coupon clipper...it's like change in your pocket...it adds up!

Jul 12, 2009 10:06 PM #23
Rainmaker
573,927
Terry & Bonnie Westbrook
Westbrook Realty Broker-Owner - Grand Rapids, MI
Westbrook Realty - Grand Rapids Forest Hills MI Re

We tried it for a while but it seems like too much trouble for the benefits.

Jul 12, 2009 10:28 PM #24
Rainmaker
244,340
Kristi DeFazio
RE/MAX Advantage - Colorado Springs, CO
Colorado Springs Rea lEstate 719-459-5468

Great timely post. It seems that being cheap is IN!! I love listenting to Dave Ramsey on the radio and he has great ideas for people in debt.

I also have a friend that does The Grocery GAme and saves so much money on food! It is online by the same name. I just need to buckle down and get organized!

Jul 12, 2009 10:29 PM #25
Ambassador
1,563,910
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 800-610-7253 DRE01267479 - Costa M

We have become rotten as a country about saving.  Thanks for the link.

Jul 12, 2009 11:15 PM #26
Rainmaker
558,669
Chris Olsen
Olsen Ziegler Realty - Cleveland, OH
Broker Owner Cleveland Ohio Real Estate

Hi Lane -- Sage advice in ALL times, but most especially now.  Doing a lot of little things consistently, can reap decent rewards over the long term.

Jul 13, 2009 12:14 AM #27
Rainer
320,761
Chip Jefferson
Gibbs Realty and Auction Company - Columbia, SC

The shear cost of living makes it impossible for the average family to save anything. Having to feed house and educate a family of 6 is a job in its own.

Jul 13, 2009 07:00 AM #28
Anonymous
Anonymous
Jeanne Gregory, RE/MAX Southwest, Sugar Land, TX

My husband retired last year, and although we were doing fine with my business and his retirement, we took a hard look at where the money was going.  With just a bit of focus, we saved over $2000 per year by changing insurance, cell and land line plans, and electric provider.  That's $166 per month!  You've got to live on less than you make. 

Jul 13, 2009 08:14 AM #29
Rainmaker
74,021
Ronnie Margolis
Hawaii Life Real Estate Services, LLC - Kapaa, HI
Kauai Realtor - CDPE, ABR, RA - On Top of the Aloha Beat

Thanks for the link to the frugality section of google. Maybe I'll save some $$$ there. At the same time, i feel like if I invest my time in prospecting new business, that may provide a better ROI than spending my time looking for food coupons. Gotta hang in there...

Jul 13, 2009 08:46 AM #30
Anonymous
Anonymous
Brian Birkel

There is a real balancing act that takes place when we talk about saving more.

I agree that on a personal level that everyone should be saving.  However, when everyone does start saving more and spending less that is not good for the growth of our econcomy.

I think we probably wished there were more people at all income levels out buying a home right now to make up for the last several years when they have not. Since they have not it has certainly had a negative impact finanacially on our industry.

No simple answers to make everyone prosper.

Jul 13, 2009 09:02 AM #31
Ambassador
1,285,198
Loreena Yeo
3:16 team REALTY ~ Locally-owned Frisco TX Real Estate Co. - Frisco, TX
RealtorĀ® | Frisco TX Community Ambassador

I like to say, when you have money, alot of things just merely become a small inconvenience. For some, even lunch is an "emergency" when you dont have any money.

Jul 13, 2009 09:03 AM #32
Rainmaker
818,493
Lyn Sims
RE/MAX Suburban - Schaumburg IL Real Estate - Northwest Suburbs of Chicago - Schaumburg, IL
Schaumburg Homes

Who is that investor/financier that says the time to buy is when there is blood in the streets? That's usually good advice.

I wish I was a better saver - My sister still has her communion money as they say!  My car no longer is on auto pilot to the mall though so some progress has been made!

Jul 13, 2009 01:29 PM #33
Ambassador
883,519
Lane Bailey
Century 21 Results Realty - Suwanee, GA
Realtor & Car Guy

Thank you all for the comments...

BB - I should have learned it as a kid... but apparently forgot.  After I got divorced in 1998, I didn't have cable for 3 years, now I have a big screen and couldn't have too many channels.  I lust after new cars... and spent decades driving stuff that required a knowledge of tools.  It is a habit that can be learned AND unlearned...

Jul 13, 2009 04:00 PM #34
Ambassador
883,519
Lane Bailey
Century 21 Results Realty - Suwanee, GA
Realtor & Car Guy

Andrew - Was that tongue in cheek?

Brian & Andrew (if you weren't tongue in cheek)...  If people DON'T spend more money that they make, savigs rates and investment rates will rise.  That means that there is more capital in the system.  That capital in the system makes borrowing easier for businesses (and people buying things like houses and cars).  When businesses borrow, they tend to do it to expand.  The expansion leads to more jobs.  More jobs lead to more people being able to spend... 

Saving money actually increases jobs and raises the standard of living... 

On the flip side, spending beyond our means leads to a lack of capital for lending.  Banks don't want to lend, and begin to raise rates.  The cost of the federal debt goes up, and taxes have to rise.  As taxes and interest rise, jobs are lost. 

There is an adjustment period... but that is the way it works.

Jul 13, 2009 04:14 PM #35
Rainer
118,127
Ginger Moore
Wilkinson & Associates Realty - Gastonia, NC

Nice post Lane. I will have to work on this saving money. I do shop a lot at walmart, and even go to goodwill sometimes.  I love to get a second hand treasure! Thanks for sharing!

Jul 13, 2009 08:46 PM #36
Rainmaker
336,188
Mike McCann - Nebraska Land Broker
Mike McCann - Broker, Based in Kearney & Serving Rural Nebraska - Kearney, NE
Nebraska Farm Land For Sale 308-627-3700

My wife and I use coupons all of the time and I mean all of the time. Numerous times our friends have wrinkled their noses or said they wouldn't be caught dead using a coupon for something and my wife and I laugh and pull out the coupon and save 10, 20, 50%. You show me a better ROI than 50% and I will show you a Bernie Madoff groupie.

 

Jul 13, 2009 10:37 PM #37
Rainmaker
956,578
Kathy Clulow
RE/MAX All-Stars Realty Inc. Brokerage - Uxbridge, ON
CNE - ASP - SRES .... Uxbridge Ontario Real Estate

Lane - there are some great resources here ... I must admit I learned very early in life that frugality pays having lived through the loss of my dads store when I was a teenager and my husbands shortage of work in our early years.

Jul 14, 2009 11:29 PM #38
Ambassador
883,519
Lane Bailey
Century 21 Results Realty - Suwanee, GA
Realtor & Car Guy

Thanks - Saving money is a great thing... 

Jul 16, 2009 12:14 AM #39
Rainmaker
197,630
Mark Velasco
Realty Source, Inc (Luxury Homes Division) - Whittier, CA
Friendly Hills Homes for Sale - Whittier, Ca. Real Estate - Listings

Hello Lane. Any person who tries to save me money is a friend of mine!

Aug 13, 2009 12:08 AM #40
Ambassador
883,519
Lane Bailey
Century 21 Results Realty - Suwanee, GA
Realtor & Car Guy

Mark - Thank, bud.

Aug 13, 2009 02:40 PM #41
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