All of my cost cutting (Canada-centric)- will try to help others do same!

[Bullseye]

In the past year, my family of four has got serious about saving money and getting fit, here is a list of what has been done;

- Cut cable!  Put up a $50 antennae to get 12 channels.  Got NetFlix.  Put XMBC (free) on my PC and connect it to TV to stream lots of other stuff
- Changed ISP to a $40/month service that is fast enough to stream, with a 200gb cap.
- cancelled home phone, went to VOIP (Fongo), $5/month to call most places in Canada/USA
- switched cell to prepaid, dropped cost from $20 to $8/month
- scour RedFlagDeals for latest/best credit card offers, now using the Capital One World to get 2% back in travel with no restrictions, and also using MBNA's 0% for 10 months deal to save on mortgage interest, 4th time using this promo
- started using my bank's line of credit as a bank account (unlimited transactions, free cheques), no more bank fees
- improved cooking skills so we can cook all meals from scratch, and use flyers every week to stock up.  Switched to mostly veg diet for health, but also cost savings
- self-audited house to lower energy costs, used Kill a Watt from library
- started biking to work as many days as possible, did 5,000km this year! 
- bought a $50 highly rated outdoor drying rack to hang dry laundry
- started only washing clothes that needed to be washed, not just automatically throwing everything in hamper
- cut drinking
- cancelled magazines and papers, no more book buying, use library instead
- cut kids sports down to 1-2 days per week, now spend more time with them exercising as a family

Took up running, and with all the cycling and better eating and less drinking, I'm closing in on 160lbs (from 180lbs).  I can bike 100km in one stretch now, and run 5k in under 20 minutes.

If anyone is interested in more details, reply and I'll try and share the savings with you! 

[totoro]

Awesome!  What drying rack?  Also what bank? 

We cut cable and got netflix too with the connection to the TV. 

Biggest savings for us was moving to a smaller home next to grocery stores, schools and the library.  We walk everywhere now.

[kdms]

I should have read this post first before commenting on the grocery bill thread... ;)

That kill-a-watt meter is awesome.  I took a few out on loan from the Ottawa public library system and discovered all sorts of useful things.....

How are you saving on your mortgage interest?  I'd love to know more about that.

[totoro]

I'd like to know about the mortgage interest too!

[eldub]

ditto for me, I love for you to clarify this:

"also using MBNA's 0% for 10 months deal to save on mortgage interest"

Does this mean you're making your mortage payments with your creidt card???

[kdms]

I don't think that's what Bullseye means.  I've used 0% balance transfers before, primarily because the amounts involved have been small enough that the transfer fee has been small enough that it was a significant savings in interest over using a line of credit, over the specified amount of term.  But I've been playing around with mortgage amortization calculators and I can't figure out how this would work with a mortgage, unless the original arrangement is a HELOC?  If I tried to pay, say, $20000 onto my mortgage in order to save the interest over 10 months, I don't know what I'd do with the balance at the end of the 10 months because I wouldn't be able to absorb it back into the original mortgage.  Not a big deal if you're able to pay the whole thing off in the set term, I guess.  A $20000 balance transfer would incur a $200 transfer fee, plus the minimum payment on that card is 1%, so that's another $200 a month.... I haven't a clue how to map this out.

Definitely need some guidance on this one. 

[Bullseye]

This is the drying rack I use;

http://www.amazon.com/Household-Essentials-Portable-Umbrella-Style-Clothes/dp/B001H1GUXW/ref=sr_1_3?s=storageorganization&ie=UTF8&qid=1353760721&sr=1-3&keywords=drying+rack

Only available in USA, but I have a US drop point in Niagara Falls.  www.usaddressinc.com Costs $5 per pick up!

I bank with TD, they allow you to use a line of credit with a perpetually overpaid account.  So my pay going into it, and all bill payments come out.  You can order 10 cheques free at a time.

[Bullseye]

Here is the link to the MBNA 0% deal;

https://www.applyonlinenow.com/CACCapp/Ctl/entry?sc=CMUM&lc=en_CA

And a huge forum post about the details

http://forums.redflagdeals.com/mbna-0-10-months-thread-813854/

There is a 1% fee, so your cost is actually just over 1% for 10 months.  I've broken my mortgage out into a traditional one, and then part of the balance to a home equity line of credit.  I qualify for $22k with the MBNA deal, and they put the money right into your account.  I use it as an extra payment on my mortgage, and then at the end of the 10 months, I pay off the MBNA with the line of credit.  I've done it 4 times now, and each time saves me around $500 in interest, net. 

[BPA]

Here is the link to the MBNA 0% deal;

https://www.applyonlinenow.com/CACCapp/Ctl/entry?sc=CMUM&lc=en_CA

And a huge forum post about the details

http://forums.redflagdeals.com/mbna-0-10-months-thread-813854/

There is a 1% fee, so your cost is actually just over 1% for 10 months.  I've broken my mortgage out into a traditional one, and then part of the balance to a home equity line of credit.  I qualify for $22k with the MBNA deal, and they put the money right into your account.  I use it as an extra payment on my mortgage, and then at the end of the 10 months, I pay off the MBNA with the line of credit.  I've done it 4 times now, and each time saves me around $500 in interest, net.

Wow, thanks for the link, Bullseye.  I'm definitely going to check that out.

I have done some of the same things as you.  After my ex moved out, I couldn't afford cable and so did not have and when I could afford it again, I found it wasn't necessary.

In addition to some of the things on your list, I also now have a reliable, responsible roommate: my brother.
I also don't own a car.

But I do own a travel trailer in PEI which costs me yearly for upkeep and park fees...and transportation to get out there.

And I love riding the bike paths and trails from where I live (in upper Stoney Creek) to where you live.  I love that ride along the lake.  That is our most frequent date afternoon.  And we'll stop and get an ice cream near Spencer Smith Park.  Just lovely.

[Bullseye]

And I love riding the bike paths and trails from where I live (in upper Stoney Creek) to where you live.  I love that ride along the lake.  That is our most frequent date afternoon.  And we'll stop and get an ice cream near Spencer Smith Park.  Just lovely.

Nice!  I love to ride from my place (NE corner of Burlington) along the bike corridor, to that lake path, and along the waterfront trail to Niagara for lunch.  I've done the Red Hill creek trail, too.  A bit steep for my young kids still, but a neat trail.  We did the Brantford to Port Dover rail trail a couple weeks ago, definitely worth the trip out there.