Save Money & Stay on Track with these Spending Sweet Spots

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This topic contains 1 reply, has 2 voices, and was last updated by  nicolemacias 11 months, 1 week ago.

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    I’m continually updating a list of items that people constantly ask me whether or not they should purchase. While getting out of debt, a lot of time in the financial community, we like to pretend like throughout the duration of someone’s debt free journey, that they will purchase absolutely nothing. While this would be great and definitely help that person get out of debt faster, we know in practice that this just isn’t the case.

    With that being said, participants in the Debt Movement and BKF University who are trying to get out of debt and build wealth should understand there is a sweet spot for those who find themselves in the market to purchase specific products. We’re not saying you can’t succeed if you venture slightly outside of these suggestions; again this is simply the sweet spot or set of purchase points you want to aim for so you do not find yourself too far off track.

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    A few good purchase points for individual items you may be trying to purchase or services you may be looking for are as follows:
    ===========================

    **When purchasing a car if yours has become too expensive to fix**
    Between 2-5years old, reliable (Honda, Toyota/Scion, Nissan), $10k or under and paid for in CASH. If you do not have $10k to purchase a vehicle and you only have $5k to purchase a vehicle then great, you know what you can afford.

    **GAS**
    Chevron gas preferred. Second choice is Texaco 91. Third choice is 76 (for now). Stay clear away from Arco and Costco gas. Contrary to popular belief all gas is not created equal and a lot of us spend a whole lot more burning through cheap gas.

    **For Car Insurance**
     Progressive Insurance, Wawanesa General & AAA

    **For laptops needed for work or school**
    Between $300-$600 (never pay over $600 for a laptop) HP, Sony, Toshiba. or Samsung. Apple if you’re an art director, graphic designer or special effects editor. Just say no to Chrome Books.

    **For inexpensive cel phone external batteries and accessories**
    http://www.NewTrent.com

    **For banking products/bank accounts**
    Checking Accounts- must have “free” checking or the ability to avoid account maintenance fees using direct deposit. No mandatory transferring of money between to avoid fees. Must have ALL overdraft “protection” removed from accounts.

    Checking accounts can be from the following:

    Credit unions/community banks.
    USAA.com
    Unionbank.com
    Perkstreetfinancial.com
    Schwab.com

    **Savings Accounts**
    USAA.com
    Ingdirect.com (until we see Capital one make a wrong move)

    **Investment Accounts**
    TDAmeritrade.com
    Vanguard.com

    **Financial advisors -investment related**
    YOURSELF (read a book like BKF)
    or
    http://www.WealthFront.com

    **Getting out of Debt/Budgeting Software**
    http://www.readyforzero.com
    http://www.Mint.com

    **For cable TV packages**
    AVOID Cable TV while in debt. Use Hulu/Netflix or justin.tv/letmewatchthis.ch instead if using a laptop setup.
    For stand alone digital boxes, use Apple TV or Roku 2 Player (Roku is better right now)

    **For Internet providers**
    Stick to time warner cable over ATT Uverse. Clear Wire sucks for mobile internet but it is unlimited – use at your own perill.

    **Please add your own to this list below!**

    #1404

    nicolemacias
    Participant

    Explore local internet options. Many people need internet for their home or home business but it can be pricey. We saved over $200 a month by canceling cable and internet with Comcast and just doing hulu plus ($7.99) month like you said above. If I need netflix I use a friend’s account and let him use my hulu account. That’s another great way to do it (share!).

     

    I got line of sight internet from a local San Francisco company called Monkeybrains. It’s only $35 a month. So that’s $35 for internet and $8 for TV. Way better than comcast!

     

    Another tip for the ladies…check craigslist for local salons who need models. Often really high end salons need women to come in and be a demo while a teacher cuts/colors your hair to show their students. I got free high end haircuts/color for years while doing this. The Cinta Aveda institute also offers great rates since they have students working there.

     

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