Cutting household expenses. Wow!

Discussion in 'The Pub' started by GT40, Jul 10, 2019.

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  1. GuitarGuy66

    GuitarGuy66 Member

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    Yep. Like I said. Paid them both off and cancelled the one.
     
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  2. Travst

    Travst Supporting Member

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    Two kids out of the house. Massive savings. Plus, it's quiet.
     
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  3. Hwoltage

    Hwoltage Member

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    I should do this also. Today, I closed down a storage unit I didn't need anymore, saving me $80 a month. I went straight from there to Best Buy and started browsing Samsung 4k tvs that I don't really need either. On in-store credit, about a $50 a month payment. That's saving money too, right?? :drown
     
  4. mojotele65

    mojotele65 Supporting Member

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    That there is a thing of beauty. Is that a real GT40? I have never seen one that color and so perfect.
     
  5. drewl

    drewl Member

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    Right.

    Gotta' stay on top of this BS!
     
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  6. Tony Foran

    Tony Foran Supporting Member

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    It's a 67 Mk III , which was the street legal version. Around $13,000 new !
     
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  7. GuiltySpark

    GuiltySpark Member

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    Thanks, reminded me to cancel my HBO channel on Prime. Now that GOT is over and Chernobyl is watched, I got no use for it.
     
  8. 70 Mach 1

    70 Mach 1 Supporting Member

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    But sometimes you end up giving some or all of it back

    I cut my health insurance premiums in half last year by choosing a new carrier.


    Turns out my federal tax return has a calculation based on the subsidiary of the NY State Health Exchange credit i was getting for the higher premiums

    My credit got reduced based on the new premium

    Instead of getting my normal $2200 refund it cost me $2000 this year

    Im still a tad ahead of the game but they did take a lot if air out of my sails.
     
  9. ellis dee

    ellis dee Member

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    i do not need to cut household expenses... i need to quit buying guitars...
     
  10. m@2

    m@2 Supporting Member

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    I've cut out cable TV, car payments, and make my own coffee/take my lunch to work almost every day. The last one was a big one... once I looked over my expenses. I was averaging $10-15/day on basically a cr@ppy lunch and coffee. I over $1000 less in expenses each month in total :banana I even dropped Amazon Prime o_O
     
  11. AaeCee

    AaeCee Member

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    Nice job.

    Some more incentive (especially for you younger guys)...

    That would amount to over $160,000.00 over 20 years compounded at only 4%. :)

    It's not about how much you make, it's about how much you save!
     
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  12. thewhit

    thewhit Silver Supporting Member

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    I could cut my household expenses.......but my wife enjoys living here.
     
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  13. scott58

    scott58 Member

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    Did the same recently cut out about 1\2 that much. I think about going off the grid from time to time, but what fun would that be? No TGP!
     
  14. AA864

    AA864 Member

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    I watch things like a hawk daily/weekly. I want no/low expenses so I can retire someday.

    So many services now are a subscription model and I avoid these as much as possible. My monthly bills include a modest mortgage and utilities. My cel bill is $35/mo, internet is $50. No car payment, No cable bill, no XM radio, no clubs/memberships nada. My work gym cost is refunded back to me when I go X times a year, so free. Car and home insurance is a bitch and creeps up every renewal period. I shop around about once a year.

    Having low expenses allows me to max out retirement savings and I can vacation and buy guitars whenever I see something that I want.
     
    Last edited: Jul 10, 2019
  15. Rick Lee

    Rick Lee Member

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    How does one blows off filing income taxes for years and then end up with a refund? At the very least, your interest and penalties (unforced errors) were deducted from your refunds. Worse yet, getting any refund means you gave the gov't. an interest-free loan for years.
     
  16. GuitarGuy66

    GuitarGuy66 Member

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    I started a small sound company in 2012. I had invoices, receipts, mileage log, utilities etc. But I didn’t know what to do with it all. So I just put it together and set it aside. I also had work deduct $120 extra per pay period, and a couple years later upped it to $150 extra taken off per 2 week pay period.

    I did the same for the years 2013, 2014, 2015, 2016 & 2017. In 2018 I thought well I know they owe me money, but it’s been 6 years so I’m guessing sooner or later they are going to want some info.

    So I sat down and organized the info the best I could and took it to an accountant. After he went through it all, he told me how best to organize the info. Once I knew how he wanted it I went to work.

    I’m 2018 I completed my taxes for 2012, 2013, 2014 & 2015. Then in 2019 I completed 2016, 2017 & 2018. I got a refund for every year ranging from $1900 to $4200.

    I’ve probably spent closer to $7000 on gear this year. As far as the whole interest free loan thing, the 1.5% I’d get from the bank isn’t going to turn me into Jeff Bezos anytime soon. $150 x 26 builds up a tax war chest of $3900 over the year. If I pay $500 in taxes on the income then I get $3400 back.

    I was doing around $17k - $22k a year, but one of my main venues shut down a couple years ago so I’m more around $11k - $14k which is ok. I have more of a life now.

    Here’s a couple gigs.
    My latest one, last weekend:


    A typical theater style gig:


    Outdoor gig:


    A kickass open mic at the end of an annual festival:


    Another theater gig:


    Bar gig:
    https://youtu.be/9C1m4Xlnag4

    Here’s a quote about taxes up here in Canada

     
    Last edited: Jul 11, 2019
  17. zzmoore

    zzmoore Member

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    Good for you my friend..... now you can afford a couple pairs of these. :aok

    https://shophunziker.com/collection...ucts/gulf-racing-heritage-casual-driving-shoe
     
  18. rickcard71

    rickcard71 Member

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  19. zekmoe

    zekmoe Member

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    People do even stupider things with their money, like buy a boat, go on vacations or visit casinos. To each his own. I’d rather have the technology stuff than a boat or a cruise around the world any day.
     
  20. MkIII Renegade

    MkIII Renegade Member

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    Here is the best way to appreciate it:

    How much of a raise would you have to get to NET that much more pay per month? Well, you just got a raise. :cool:
     

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