Saving Money as Prices Increase

[Snobdds]

I just had 3 propane tanks filled at the ranch, 500 gallons each. $3.85 a gallon delivered
Had 500 gallons of diesel delivered 3.42 a gallon delivered
Had 500 gallons of 91 gasoline delivered. 4.15 a gallon delivered

A quick way to spend a little less than 10K.

I am in my prime money making years and have to spend money to make money. I can't really spend the extra time required to price shop. I pay the man what the man wants. I guess when I retire I will become cheap.

 

[Oaktree]

It might seem like paying $18 for a 10 lb. ham is a budget buster, but the ham meat went to a couple dinners, a couple omelets, a big batch of mac 'n cheese, plus the big pot of navy beans. Call it $1.50 per meal, $2.00 with other ingredients. Cooking is key to thrift.

That's the thing with getting a ham (or a turkey for that matter) is that even though the up-front cost is high-ish, there's a lot of meat there, and you've got many days of leftovers from either one.

I am in my prime money making years and have to spend money to make money. I can't really spend the extra time required to price shop. I pay the man what the man wants. I guess when I retire I will become cheap.

I'm assuming you're talking business expenses? I suppose you gotta do what you gotta do.

 

[kenmac]

Is a good perspective.

Now is a good time to look at what your actually eating and make some changes if one is worried about cost.

Heck, I'm eating beans and rice now. I doubt I can eat any cheaper !

 

[lman]

We picked up a turkey last week for .49/lb. We got pork chops for 1.49/lb the week before that. My freezer is full of deals.

 

[Oaktree]

We picked up a turkey last week for .49/lb.

You used to see deals like that a week or so before Thanksgiving...loss leaders, usually a minimum purchase (exclusive of the turkey) required. Last few years, not so much. We got ours for 89¢/lb last weekend, cheapest I've seen.

 

[Snobdds]

I'm assuming you're talking business expenses? I suppose you gotta do what you gotta do.

No business expenses here. I'm not a rancher, just live on one that has been in the family for years and is too valuable to sell. My neighbor runs his cattle on the meadows and keeps the fences up, ditches cleared and hay cut. He's the rancher. He keeps my meadows from becoming weed infested wastelands. I just get a steer from the butcher all vacuum sealed every year from him.

 

[Oaktree]

No business expenses here. I'm not a rancher, just live on one that has been in the family for years and is too valuable to sell. My neighbor runs his cattle on the meadows and keeps the fences up, ditches cleared and hay cut. He's the rancher. He keeps my meadows from becoming weed infested wastelands. I just get a steer from the butcher all vacuum sealed every year from him.

Nice place! Sounds like you got the best of both worlds!

 

[arto98607]

No business expenses here. I'm not a rancher, just live on one that has been in the family for years and is too valuable to sell. My neighbor runs his cattle on the meadows and keeps the fences up, ditches cleared and hay cut. He's the rancher. He keeps my meadows from becoming weed infested wastelands. I just get a steer from the butcher all vacuum sealed every year from him.

Your buffalo's look pretty skinny or thin!

 

[WinifredHobbs]

I believe everyone should have a kind of safety cushion that will not leave him without money in case of trouble like unemployment or an unexpected rise in the price of necessities, etc. When I accumulated enough money in such a "cushion," I did not start taking money from there for my regular expenses. I wanted to start a business and started thinking through my business plan. Of course, I didn't immediately think to contact a financial advisor. But later I found a consultant at hensoncrisp.com and asked him many questions, which he answered to me satisfactorily.

 

[daugen]

Welcome Win to TBN. Take your savings and put them into your financial cushion.
Good advice.

part of the challenge of today's messed up shipping situation are the shortages which drive up price,
because as any seller knows, more demand and less supply means raise your prices.

This is not an easy time to save money, but two things are very positive. One is mortgage and financing rates are relatively low, so the
cost of home and car ownership is helped by those savings. Also positive is that just about any one who wants a job can get one.
So if you need to earn more money, there are a lot of opportunities out there.

If you drive a lot of miles, buying gas at Costco or Sams should save a significant amount of money. I need to look up and see if Costco gas is "certified".
Engines with direct injection are getting a lot pickier on quality of gasoline.

 

[daugen]

I have a savings question about gasoline.
my local Exxon dealer, who I've known for 50+ years, when asked if it was worth putting Plus in my Ram truck when it
only called for regular. I had read the electronics might recognize the extra octane and put it to use. I'm not sure about that.
His response was that he would spend the extra ten cents a gallon for Plus because of the better additive pack/detergency of Plus.
I occasionally slip in a bottle of Sea Foam and I've never had a problem with regular gas. But a set of injectors, and the diagnosis fee, are big bucks.
I'm actually more concerned over the car's DI fuel system, a six year old Hyundai Genesis.

Regular may be a minimum but wondering for example if mpg goes up a little with 2 more points of octane. Probably not much.

I'm very low mileage in retirement so the difference in cost is not a big issue, but no one wants to throw away hard earned money.
Am very happy both my vehicles run on regular. I think a can of SeaFoam once or twice a year is a lot cheaper over 10k miles than paying ten cents more
per gallon. 10k divided by 20mpg equals 500 gallons times a dime. 50 bucks more in gas. Sea Foam is a lot cheaper particularly on a thirsty truck like the hemi.

So as long as the engine runs well my thought was to stick with regular gas plus an additive.
On my car the dealership dumps in carb cleaner at almost every visit. I'm sure they are fighting the downsides of ethanol gas. Except that five dollar can somehow
miraculously becomes twelve bucks on the bill. I've learned to buy my own.

Truck has 90k and is due for new plugs at 100k. Mpg is about the same as always so didn't think jumping ahead on plug maintenance would buy me much of anything. Anyone have experience and disagree?

 

[Larry Caldwell]

There are a number of ways to shelter from inflation. Home ownership is the big one. The day your house closes, you are sheltered from housing inflation. Learn to cook and food inflation is still there, but the impact is minimal. Fuel is the killer, or if you are a farmer, input costs including seed, feed, fertilizer, chemicals, etc.

The shortage of nitrogen will probably push a lot of farmers into soybeans to dodge the inflation bullet, but that will deflate the price of beans. For farmers, the "safety" cushion is often equity. Banks will loan against equity, which has been going nuts thanks to loose money.

I think the best way to save money during inflation is to lock in volatile expenses at the lowest price you can negotiate.

 

[5030]

Real estate plus one. Why I own multiple homes, all with fixed rate mortgages. Anyone who buys a home with an ARM is nucking futz.

 

[riptides]

Real estate plus one. Why I own multiple homes, all with fixed rate mortgages. Anyone who buys a home with an ARM is nucking futz.

Ahh...no. ARMS can be a good tool for getting more money and or qualifying. Just watch the timing of them against the markets.

 

[Hay Dude]

Lots of good comments. I’ve been trying to build skills since covid started. Welding, wrenching, haying are the big ones. I already had some history but really focused on those. I’d like to pick up a CDL license. Not really looking for another job but would like the flexibility if needed, mostly looking for bartering material (skills) with the local folks as there are a lot of resources around and I’m sure with inflation they’d gladly do some trading for free help…right now they pretty much get my help for free but it’s worth it for the lessons, at least on my side of the deal

Getting my CDL in the early 90’s was one of my best moves.
Of course it helps you if you want to do heavy hauling for yourself, but it also makes you available for working for other trucking & hauling companies.
I can dial up more income by driving more for a couple dump trucking companies. I am friends with their owners and they cannot keep enough drivers.

 

[Hay Dude]

Real estate plus one. Why I own multiple homes, all with fixed rate mortgages. Anyone who buys a home with an ARM is nucking futz.

I have an ARM and I’m barely paying any interest at all on one of my properties. Based on Libor rate, which it up only 1/10th compared to last year.
Love it, because it got us qualified and in the door, but also realize a fixed rate refi is in my near future. Rates are headed up soon (late 70s all over again).
So mucking futz works for me sometimes

 

[riptides]

One can always make more money, one cannot make more time.

 

[Oaktree]

If you drive a lot of miles, buying gas at Costco or Sams should save a significant amount of money. I need to look up and see if Costco gas is "certified".

This of course assumes one of those stores is near where you are. They're not everywhere...nearest Sam's is 2½ hr away (and I don't know if they sell gas), I've never even seen a Cosoc.

 

[not2old]

I have a savings question about gasoline.
my local Exxon dealer, who I've known for 50+ years, when asked if it was worth putting Plus in my Ram truck when it
only called for regular. I had read the electronics might recognize the extra octane and put it to use. I'm not sure about that.
His response was that he would spend the extra ten cents a gallon for Plus because of the better additive pack/detergency of Plus.
I occasionally slip in a bottle of Sea Foam and I've never had a problem with regular gas. But a set of injectors, and the diagnosis fee, are big bucks.
I'm actually more concerned over the car's DI fuel system, a six year old Hyundai Genesis.

Regular may be a minimum but wondering for example if mpg goes up a little with 2 more points of octane. Probably not much.

I'm very low mileage in retirement so the difference in cost is not a big issue, but no one wants to throw away hard earned money.
Am very happy both my vehicles run on regular. I think a can of SeaFoam once or twice a year is a lot cheaper over 10k miles than paying ten cents more
per gallon. 10k divided by 20mpg equals 500 gallons times a dime. 50 bucks more in gas. Sea Foam is a lot cheaper particularly on a thirsty truck like the hemi.

So as long as the engine runs well my thought was to stick with regular gas plus an additive.
On my car the dealership dumps in carb cleaner at almost every visit. I'm sure they are fighting the downsides of ethanol gas. Except that five dollar can somehow
miraculously becomes twelve bucks on the bill. I've learned to buy my own.

Truck has 90k and is due for new plugs at 100k. Mpg is about the same as always so didn't think jumping ahead on plug maintenance would buy me much of anything. Anyone have experience and disagree?

I have a 1990 f250 with 438,000 km (272,000Miles) on the 460 motor. When newish I cleaned the throttle body occasionally when it idled poorly. Haven't needed to do that in years and it runs just fine without any such attention but I'm led to believe that canadian gas is better quality. My truck ran almost exclusively on U.S. gas for the first ten years of it's life. ??????

 

[5030]

I have an ARM and I’m barely paying any interest at all on one of my properties. Based on Libor rate, which it up only 1/10th compared to last year.
Love it, because it got us qualified and in the door, but also realize a fixed rate refi is in my near future. Rates are headed up soon (late 70s all over again).
So mucking futz works for me sometimes

It works until the Fed starts jacking the prime (which they will soon) and then your ARM turns into an amputation as your payment goes north at a high rate of FRN consumption. All 3 of my rentals are on fixed rate loans and stay that way.

If you are gonna refi to a fixed rate, better do it real soon or you may be unpleasantly surprised that your FR is steep.