Author Topic: Inspired by "The 10% question"  (Read 4149 times)

CheapskateWife

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Inspired by "The 10% question"
« on: September 28, 2017, 11:53:01 AM »
https://www.halfbanked.com/one-simple-way-kickstart-money-saving-habits/

Found this article through Rockstar Finance this morning and got me thinking that it had been a while since I had really looked at optimizing any of my budget line items.  Folks, there is shameful creep.

I thought this could be a thread of bad ass-ness where folks come and brag about their 10% reductions.

I'll go first:  Reviewed my homeowners policy and realized that I could raise our Fire damage deductible a modest amount and save $300 per year, or 25% of what we had been paying previously. 


ThriftyStashMan

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Re: Inspired by "The 10% question"
« Reply #1 on: September 28, 2017, 12:20:11 PM »
I've gotten in the habit each spring of calling up every business I pay monthly - cable, phone, car and homeowners insurance, gym membership, etc - and asking how they are going to cut my cost by 15% (not if they can but how they will). I always come away with a savings. Takes a good part of the morning but worth it to me.

lexde

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Re: Inspired by "The 10% question"
« Reply #2 on: September 28, 2017, 01:05:50 PM »
I've gotten in the habit each spring of calling up every business I pay monthly - cable, phone, car and homeowners insurance, gym membership, etc - and asking how they are going to cut my cost by 15% (not if they can but how they will). I always come away with a savings. Takes a good part of the morning but worth it to me.
I wonder if my gym would do this... it's a big chain so I'm not sure.

CheapskateWife

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Re: Inspired by "The 10% question"
« Reply #3 on: September 28, 2017, 01:25:42 PM »
I've gotten in the habit each spring of calling up every business I pay monthly - cable, phone, car and homeowners insurance, gym membership, etc - and asking how they are going to cut my cost by 15% (not if they can but how they will). I always come away with a savings. Takes a good part of the morning but worth it to me.
I wonder if my gym would do this... it's a big chain so I'm not sure.
It sure can't hurt you to ask...or shop around at some of the other gyms, and bring their rates back to yours...you could encourage them to match the competition's offer.


Slee_stack

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Re: Inspired by "The 10% question"
« Reply #4 on: September 29, 2017, 10:34:31 AM »
I did just switch Internet to save a whole $12/mo.  That move wasn't really about savings more than it was about finally having ANY other provider but ComCast.  I hate Comcast.

I also jumped to Sprint to get a no contract year of $3.50 per line unlimited data.  (Its so weird to pay less than $4/mo per line, we're used to about $30/line)  We have unlocked phones, so we actually jump around if we can save even $5/mo.

I've not been successful with any insurance or utility though.

I also ignore a lot of our other spending including grocery, alcohol, restaurants, or whatever.  There's room for improvement to be sure.


ThriftyStashMan

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Re: Inspired by "The 10% question"
« Reply #5 on: September 29, 2017, 10:37:58 AM »
I've gotten in the habit each spring of calling up every business I pay monthly - cable, phone, car and homeowners insurance, gym membership, etc - and asking how they are going to cut my cost by 15% (not if they can but how they will). I always come away with a savings. Takes a good part of the morning but worth it to me.
I wonder if my gym would do this... it's a big chain so I'm not sure.

My gym give me the introductory rate again and a water bottle (because I need a water bottle for each of the trazillion t-shirts I have).

CheapskateWife

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Re: Inspired by "The 10% question"
« Reply #6 on: September 29, 2017, 12:04:27 PM »
Went back to our ISP and negotiated for the introductory rate...down from $65 to 45 per month!


EmFrugal

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Re: Inspired by "The 10% question"
« Reply #7 on: September 29, 2017, 01:20:57 PM »
I've gotten in the habit each spring of calling up every business I pay monthly - cable, phone, car and homeowners insurance, gym membership, etc - and asking how they are going to cut my cost by 15% (not if they can but how they will). I always come away with a savings. Takes a good part of the morning but worth it to me.
I wonder if my gym would do this... it's a big chain so I'm not sure.

Try asking for the "Loyalty" member rate. Especially if you have been going for a while. I started at my gym with a pre-paid 2 year membership purchased from Costco. It worked out to $25 a month (for 24 Hour Fitness in the DC Metro - a steal). When it ended I asked for a comparable rate and they gave me the loyalty rate which is very low compared to the listed rate. I know some, including MMM, are anti-gym, but I live and breathe the gym. It is my happy place, gets me to exercise almost every day, and I would go crazy exercising at home with my three children. I need to be out of the house to exercise, especially since I'm at home with the kids all day.

Heckler

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Re: Inspired by "The 10% question"
« Reply #8 on: September 30, 2017, 12:15:11 AM »
The outdoors is already my gym.  I'm having real troubles getting it any cheaper.  Help me please.

HipGnosis

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Re: Inspired by "The 10% question"
« Reply #9 on: September 30, 2017, 08:29:20 AM »
I also jumped to Sprint to get a no contract year of $3.50 per line unlimited data.  (Its so weird to pay less than $4/mo per line, we're used to about $30/line)  We have unlocked phones, so we actually jump around if we can save even $5/mo.

What plan is that?!?!  I can't find it on sprint.com

RetirementDreaming

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Re: Inspired by "The 10% question"
« Reply #10 on: September 30, 2017, 10:40:15 AM »
I only have 2% savings so far:

Refinance mortgage, $116 month savings
Daughter dropped gymnastics, $90 savings

Every year I do a 5% reduction to keeps costs from growing.
« Last Edit: September 30, 2017, 11:27:17 AM by RetirementDreaming »

SlowAndSteady

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Re: Inspired by "The 10% question"
« Reply #11 on: September 30, 2017, 11:15:54 AM »
I also jumped to Sprint to get a no contract year of $3.50 per line unlimited data.  (Its so weird to pay less than $4/mo per line, we're used to about $30/line)  We have unlocked phones, so we actually jump around if we can save even $5/mo.

What plan is that?!?!  I can't find it on sprint.com

Try www.sprint.com/1yearfree.  I just started another thread about it.

EmFrugal

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Re: Inspired by "The 10% question"
« Reply #12 on: September 30, 2017, 07:45:09 PM »
The outdoors is already my gym.  I'm having real troubles getting it any cheaper.  Help me please.

I'm glad that works for you. But for others, a gym is the only way they are motivated to stay in shape. To each their own. If you make the conscious choice to exercise regularly, then you're already doing so much good for your finances by staying healthy. And if they gym setting is what keeps you motivated and you are actively trying to find a way to lower the monthly cost, then bonus points. I like to exercise outside too. But I also love being with other people in a setting that keeps me motivated and brings value to my life. It's something I am very willing to spend on. For some of us that is a gym environment.

11ducks

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Re: Inspired by "The 10% question"
« Reply #13 on: October 01, 2017, 09:22:14 PM »
The outdoors is already my gym.  I'm having real troubles getting it any cheaper.  Help me please.

I'll play. It would be cheaper if you advertised your services in your local area for personal training, or a personalised couch-to-5k program support person, or a running club. So now, you get paid to exercise
Cheaper beans...CHEAPER BEANS! - dagiffy1

Heckler

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Re: Inspired by "The 10% question"
« Reply #14 on: October 07, 2017, 11:28:59 AM »
Awesome idea 11ducks.  Ive already got a sidegig running volunteer workdays on the mountain bike trails but have been thinking I need to diversify even more from my office job.

Heckler

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Re: Inspired by "The 10% question"
« Reply #15 on: October 07, 2017, 11:31:24 AM »
I did just drop the $120 annual insurance rider I had on a now older mountain bike.  Insurance is the easiest place to drop costs if you can afford to cover the loss.

I think the collision insurance coverage on our ten year old cars is next on the chopping block.

SeaEhm

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Re: Inspired by "The 10% question"
« Reply #16 on: October 07, 2017, 12:21:18 PM »
I did just drop the $120 annual insurance rider I had on a now older mountain bike.  Insurance is the easiest place to drop costs if you can afford to cover the loss.

I think the collision insurance coverage on our ten year old cars is next on the chopping block.

You had insurance on a mountain bike?  What did it cover?  Never heard of anyone insuring a mountain bike.
Just here to feel guilty about my purchases which are often irrational, wants, and in an atypical budget.

Monkey Uncle

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Re: Inspired by "The 10% question"
« Reply #17 on: October 07, 2017, 01:04:59 PM »
I've gotten in the habit each spring of calling up every business I pay monthly - cable, phone, car and homeowners insurance, gym membership, etc - and asking how they are going to cut my cost by 15% (not if they can but how they will). I always come away with a savings. Takes a good part of the morning but worth it to me.

Last time I tried that with my cable/internet/phone provider, they all but laughed at me.  They know they're the only game in town with decent service.
"Take this job and shove it" - David Allan Coe

11ducks

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Re: Inspired by "The 10% question"
« Reply #18 on: October 07, 2017, 05:07:50 PM »
Awesome idea 11ducks.  Ive already got a sidegig running volunteer workdays on the mountain bike trails but have been thinking I need to diversify even more from my office job.

Do it! I haven't got the time, yet, but one day, I plan to offer a door to door running service for new runners looking to train for a 5 or 10km run in my local area. They book you for an 8-10 week couch-to-5k program (payment upfront!), and 3x a week, you show up at their house at 6am and take them for a run. Like an enforced motivation thing - they have to go, because you know where they live!
Its win-win!
Cheaper beans...CHEAPER BEANS! - dagiffy1

rjbf65

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Re: Inspired by "The 10% question"
« Reply #19 on: October 07, 2017, 07:36:43 PM »
Auto insurance is the one I've been struggling with.  My 06 F150 is worth around $9k and I'm carrying full coverage.  It's literally the most expensive vehicle I have ever owned.  Full coverage insurance is $290/every 6 months.  Liability would be $140ish.  Our total NW is just under $300k.  So we could afford a replacement $10k vehicle but also can afford the higher premium.  I could drop that item by over 50% with that move.  Just haven't done it yet.  Any insurance advice?

Heckler

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Re: Inspired by "The 10% question"
« Reply #20 on: October 08, 2017, 12:26:44 AM »
I did just drop the $120 annual insurance rider I had on a now older mountain bike.  Insurance is the easiest place to drop costs if you can afford to cover the loss.

I think the collision insurance coverage on our ten year old cars is next on the chopping block.

You had insurance on a mountain bike?  What did it cover?  Never heard of anyone insuring a mountain bike.

Many peoples older cars are worth less than our bikes. Add a few of them to the stable and you start thinking about the house fire that destroys them all.  Then theres theft, quite common in my town.

We have since sold off and pared down the stable, and increased savings rate to 65%, so backoff with the facepunches, eh?! 

SeaEhm

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Re: Inspired by "The 10% question"
« Reply #21 on: October 08, 2017, 09:22:41 AM »
I did just drop the $120 annual insurance rider I had on a now older mountain bike.  Insurance is the easiest place to drop costs if you can afford to cover the loss.

I think the collision insurance coverage on our ten year old cars is next on the chopping block.

You had insurance on a mountain bike?  What did it cover?  Never heard of anyone insuring a mountain bike.

Many peoples older cars are worth less than our bikes. Add a few of them to the stable and you start thinking about the house fire that destroys them all.  Then theres theft, quite common in my town.

We have since sold off and pared down the stable, and increased savings rate to 65%, so backoff with the facepunches, eh?!

I was under the assumption that homeowners insurance covers stolen bikes if they are at your house.  Maybe I am wrong.  Also, people are getting their bikes stolen from the trails or mostly getting stolen for after ride get togethers?

I am the last person on the forum who has any willingness to face punch for buying expensive stuff.  Also, a mountain bike is worth every penny! 
Just here to feel guilty about my purchases which are often irrational, wants, and in an atypical budget.

Brother Esau

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Re: Inspired by "The 10% question"
« Reply #22 on: October 08, 2017, 09:41:32 AM »
I did just drop the $120 annual insurance rider I had on a now older mountain bike.  Insurance is the easiest place to drop costs if you can afford to cover the loss.

I think the collision insurance coverage on our ten year old cars is next on the chopping block.

Ahaa! A fellow MTB'er. That explains "Heckler". My main horse is a TallBoy LT

Rosy

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Re: Inspired by "The 10% question"
« Reply #23 on: October 11, 2017, 01:06:24 PM »
The outdoors is already my gym.  I'm having real troubles getting it any cheaper.  Help me please.

I'll play. It would be cheaper if you advertised your services in your local area for personal training, or a personalised couch-to-5k program support person, or a running club. So now, you get paid to exercise

But wait, there's more:) ... Photographers are interested in the outdoors from landscape shots to macros of butterflies. Photography walks and excursions.

Nature parks - wilderness areas - river walks - festival excursions and downtown explorations. Photographer's appreciate people in the know to get that coveted shot - where are the critters - where is the eagle nest - where is the best view of the moon rise.
Some ladies just don't want to go tramping in the wilderness alone - it's a safety issue too.

Offer your services to the budding young photographers and video/film artists at the local colleges or art institute or advertise with the photography clubs - offer private or group tours.

Rosy

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Re: Inspired by "The 10% question"
« Reply #24 on: October 11, 2017, 01:28:58 PM »
Forgot to say - remember to ask for military discounts. 10% off at Lowes or Home Depot and it never hurts to ask at the stores - one of my favorite clothing stores allows 10% when you show your military ID.

Auto Insurance - 10% off for taking a certificate course online.

I'm currently looking into a different cell phone plan which would save $20 a month - we'll see. That might be my only win in the utilities area, since I can't convince Mr. R. to drop the landline.

I'd drop cable, but Mr. R. is a football fan and those NFL games are only on cable.

My most successful tactic is to ask for gift cards at Christmas:) it puts a nice dent in the budget in a good way.

dcamnc

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Re: Inspired by "The 10% question"
« Reply #25 on: October 12, 2017, 08:58:08 AM »
Like most of you, I go through my expenses pretty often to see where/if I can cut. My internet kept creeping up over time; I called several times to negotiate a new rate with no luck (outsourced call center in India, no offense to Indians). I finally got fed up the last time they raised the bill, and stormed down to their office in person. The sales lady could tell I was very upset, and cut my bill literally in half. I think she knew I was about to switch providers if something wasn't done.