Saving money in these times

[pandus13]

Hello BITOGers,

Couple ideas if not already posted here:

1.call your bank and ask for forbearance:
-some have just set up a web/internet page where you enter some info and you are done
-some, you have to call (be prepared for 1-1.5 hours at least waiting on hold times)
-remember, most are expecting after the 2-3 months for you to pay the amount in full.
-some have the option to push the 2-3 months forbearance amount at the end of your loan. Check about conditions, extra interest, etc
-please make sure, get a statement that this does not affect your credit score

2.Auto insurance (already mentioned here on BITOG)
-some insurers have applied already 15-20% reduction to your monthly bill
-some, you may have to talk with your options
-check if there is a grace period: meaning policy still inforce, bu you don't pay for xx days.

3.Life insurance
-some may reduce your payment or return some of your premiums
-some have a grace period: meaning policy still inforce, bu you don't pay for xx days.

4.Utilities:
-some may return some of your payment or do credits
-some may have hardship programs (usually collaborating with local goverments/municipalities)
-some may even have grace period

Under stress or not, please be civil with the people on the lines: they are people exactly like you, maybe your neighbors.

Please add any other tips, in the hope to help any and everybody.
Please keep it civil, as we don't need more threads closed/evaporated!

My best wishes to all of you, do not loose hope, ask for help (there's no shame in it) and help somebody in need if you can.
We can go through this together!

 

[Gebo]

My internet/TV/Phone provider reduced my bill to $29.95/mon thru May 31st.

 

[pandus13]

helpful Blast from the past:

The official BITOG cheapskate thread

 

[SZR48207]

Great info pandus. Glad to see you are sending positive vibes.

 

[Donald]

Federal government is saving money by not sending me a $1200 stimulus check.

 

[007]

Originally Posted by pandus13
Hello BITOGers,

Couple ideas if not already posted here:

1.call your bank and ask for forbearance:
-some have just set up a web/internet page where you enter some info and you are done
-some, you have to call (be prepared for 1-1.5 hours at least waiting on hold times)
-remember, most are expecting after the 2-3 months for you to pay the amount in full.
-some have the option to push the 2-3 months forbearance amount at the end of your loan. Check about conditions, extra interest, etc
-please make sure, get a statement that this does not affect your credit score

2.Auto insurance (already mentioned here on BITOG)

-some insurers have applied already 15-20% reduction to your monthly bill
-some, you may have to talk with your options
-check if there is a grace period: meaning policy still inforce, bu you don't pay for xx days.

3.Life insurance
-some may reduce your payment or return some of your premiums
-some have a grace period: meaning policy still inforce, bu you don't pay for xx days.

4.Utilities:
-some may return some of your payment or do credits
-some may have hardship programs (usually collaborating with local goverments/municipalities)
-some may even have grace period

Under stress or not, please be civil with the people on the lines: they are people exactly like you, maybe your neighbors.

Please add any other tips, in the hope to help any and everybody.
Please keep it civil, as we don't need more threads closed/evaporated!

My best wishes to all of you, do not loose hope, ask for help (there's no shame in it) and help somebody in need if you can.
We can go through this together!


People need to have faith even ifs its hard depending on their particular situation, work together, try to look past the current mess and believe it will get better. If we buy into negativity wherever it comes from it will only make things worse! Good post with positive ideas!

 

[mk378]

You'll never see a party like what happens in a life insurance office should someone die with their premium a day late.

 

[PimTac]

The time to be saving money is before a crisis exists.

 

[JeffKeryk]

Originally Posted by PimTac
The time to be saving money is before a crisis exists.

There you go.
I am not really doing anything different.
I am terrified of being broke or in money trouble.

 

[BigCahuna]

What is this saving money thing you people talk about?. It doesn't exist in today"s world. I found this out the week before Thanksgiving, when I went to donate food at our clubs church's food pantry. We rode up there 4 bikes and 1 mini van loaded from floor to ceiling with various food items. The parking lot was pretty full with cars, alot of them newer then mine. People were standing in line, talking on their expensive smart phone's, with 3 or 4 kids with them to carry the booty. Most of the parents didn't look like they've missed too many meals. So I thought to myself, how can they afford all those niceties in life with low or no income? I must be doing something wrong. Fast forward to 1 month ago. People are loosing their jobs every day and I know that sucks. But most of these people have nothing saved in the way of cash to get them thru rough times. Nothing, They must max out their credit cards, and pay people to do any work that pops up in their lives. Like changing their oil, or changing a tire, or painting rooms in their houses. They charge everything and spend every penny they make. I guess they don't realize by making minimum payments on credit cards, you can keep making payments for years on stuff you've already thrown away and forgot about. Then expect others to come to their financial rescue, when they fail to plan. People need to become more self sufficient, and frugal with their cash. People complain about how much goods and services cost, but are too lazy to do help themselves. How can anyone work for years at their job, be laid off for three weeks, then say they are gonna be evicted on the first of the month because they can't come up with the rent?. Like the country song that ask's the question, Are the good times really over for good.,,,

 

[Mr Nice]

Originally Posted by JeffKeryk
Originally Posted by PimTac
The time to be saving money is before a crisis exists.

There you go.
I am not really doing anything different.
I am terrified of being broke or in money trouble.


Unfortunately the average American does NOT do that.

I recommend these people sell unnecessary crap on EBay and Craigslist if the want to keep their heads above water.

Ever drive through your neighborhood and see an open garage door and the garage is filled with stuff that's collecting dust ?

 

[007]

Originally Posted by BigCahuna
What is this saving money thing you people talk about?. It doesn't exist in today"s world. I found this out the week before Thanksgiving, when I went to donate food at our clubs church's food pantry. We rode up there 4 bikes and 1 mini van loaded from floor to ceiling with various food items. The parking lot was pretty full with cars, alot of them newer then mine. People were standing in line, talking on their expensive smart phone's, with 3 or 4 kids with them to carry the booty. Most of the parents didn't look like they've missed too many meals. So I thought to myself, how can they afford all those niceties in life with low or no income? I must be doing something wrong. Fast forward to 1 month ago. People are loosing their jobs every day and I know that sucks. But most of these people have nothing saved in the way of cash to get them thru rough times. Nothing, They must max out their credit cards, and pay people to do any work that pops up in their lives. Like changing their oil, or changing a tire, or painting rooms in their houses. They charge everything and spend every penny they make. I guess they don't realize by making minimum payments on credit cards, you can keep making payments for years on stuff you've already thrown away and forgot about. Then expect others to come to their financial rescue, when they fail to plan. People need to become more self sufficient, and frugal with their cash. People complain about how much goods and services cost, but are too lazy to do help themselves. How can anyone work for years at their job, be laid off for three weeks, then say they are gonna be evicted on the first of the month because they can't come up with the rent?. Like the country song that ask's the question, Are the good times really over for good.,,,


Very true! My kids despite everything I say seem to know better!

 

[007]

Originally Posted by Mr Nice
Originally Posted by JeffKeryk
Originally Posted by PimTac
The time to be saving money is before a crisis exists.

There you go.
I am not really doing anything different.
I am terrified of being broke or in money trouble.


Unfortunately the average American does NOT do that.

I recommend these people sell unnecessary crap on EBay and Craigslist if the want to keep their heads above water.

Ever drive through your neighborhood and see an open garage door and the garage is filled with stuff that's collecting dust ?

Is there something you can say that is positive?

 

[Lolvoguy]

Originally Posted by 007
Originally Posted by Mr Nice
Originally Posted by JeffKeryk
Originally Posted by PimTac
The time to be saving money is before a crisis exists.

There you go.
I am not really doing anything different.
I am terrified of being broke or in money trouble.


Unfortunately the average American does NOT do that.

I recommend these people sell unnecessary crap on EBay and Craigslist if the want to keep their heads above water.

Ever drive through your neighborhood and see an open garage door and the garage is filled with stuff that's collecting dust ?

Is there something you can say that is positive?


Ain't nobody got time for positivity at a time like this!

 

[Silverado12]

Devil's advocate is that wealthy people get tax breaks and don't even ask for them and the working poor who work fast food, etc. get stomped on by society saying they don't deserve even what they're making. A lot of people in the USA are working poor; they live paycheck to paycheck. That being said, there are a lot of folks who spend too much and are irresponsible and also live paycheck to paycheck.

 

[spasm3]

Originally Posted by Silverado12
Devil's advocate is that wealthy people get tax breaks and don't even ask for them


Which tax breaks are you referring to? I'd like to look at them.

 

[Mr Nice]

Originally Posted by Silverado12
Devil's advocate is that wealthy people get tax breaks and don't even ask for them and the working poor who work fast food, etc. get stomped on by society saying they don't deserve even what they're making. A lot of people in the USA are working poor; they live paycheck to paycheck. That being said, there are a lot of folks who spend too much and are irresponsible and also live paycheck to paycheck.

That's why unions are good. Better pay and benefits.
For the record: the past 30+ years I've been a non union employee.




007,

All my advice and views has always quality info to all the folks on here.

 

[nickaluch]

I made good coin over the years owning a small business. Always lived within my means always saved for a rainy day never carried major debts. A few good fights with my wife over the years on these choices but times like this I'm glad I stayed with my game plan.

 

[jimbrewer]

I save money by changing the oil in my car with the cheapest name brand oil that meets specs, running it to around 80% of the recommendations in the owner's manual and skipping the $30 UOA.

Yes. Inflation adjusted minimum wage at the end of Eisenhower's term would be $9 an hour. Take into account inflation adjusted per Capita increase in gdp since then, and an Eisenhower-level minimum wage would be about $12 per hour.

 

[007]

Originally Posted by Mr Nice
Originally Posted by Silverado12
Devil's advocate is that wealthy people get tax breaks and don't even ask for them and the working poor who work fast food, etc. get stomped on by society saying they don't deserve even what they're making. A lot of people in the USA are working poor; they live paycheck to paycheck. That being said, there are a lot of folks who spend too much and are irresponsible and also live paycheck to paycheck.

That's why unions are good. Better pay and benefits.
For the record: the past 30+ years I've been a non union employee.




007,

All my advice and views has always quality info to all the folks on here.


And how do you know that?