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Old 11-16-2022, 06:40 AM
 
6,769 posts, read 5,485,821 times
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Quote:
Originally Posted by harry chickpea View Post
If you have to pay $28K for a used car, you are at the high end of the market. Just sayin'

The SEER ratings on air conditioners don't mean much on a consumer level. Many more factors can have more effect on AC power costs.

The old saw that new refrigerators are more efficient no longer holds. At the price of new refrigerators, you literally could run a used one from ten years ago for another ten years and still not have spent the cost of the new one purchased today. To make it actually SAVE money, you would have to live to be over a hundred and have bought it in your teens.

Generic is always cheaper - not always these days.

Warehouse stores save you money. Maybe if you have enough kids to man a fast food restaurant, but for a single or couple, the annual fee negates the savings unless you get a spectacular deal on a large ticket item. I've seen the exact same items priced cheaper at Walmart than Sam's Club.

Well:
1) we bought a brand new Honda CR-V, a '22 EX trim level (low middle trim level) AWD.We paid list price of $32,030. List price for Honda or Toyota in my area is normal any time. Add on taxes, tags, fees, etc, about $35k, we paid cash.
My 88 yo father has been driving a big dodge maxivan (the very longest one built that he bought new in '93. The real engine seal failed and his usual repair shop said the cost would start at $2k and go up, IF they could get the parts they needed (that issue has always been known to be a long expensive process to rip everything apart). They said it'd be a least a week if not two to repair. And they weren't sure they could do it. Something else also needed to be fixed don't remember what, but another $2k.
So he went to the local Dodge dealer and they said they would not do it at all. So he looked around the lot.. specifically one with a large analog speedometer he could read (macular degeneration affects his vision, but can still see well.
He called me to ask about a '16 Honda CR-V EX trim for $30k. I about choked..and that was with the "push pull or drag" trade value for such older models that dealership offers.
I looked up the listing and it was listed as $28k, so $26k plus the same fees I listed above, so $30k out the door.
That made me feel a little better.
He's having a bit difficulty figuring out all the bells and whistles.
He said to me the other day 'i can't believe I paid $30k for a 6 yo vehicle'. I told it's better that $50k++ for a new shorter full sized van..and he'd have to order it and wait for it.
But, for 51 years he's driven a "big box on wheels" as I call them for 3 vans (all new) during that time.
Honda's and Toyotas DO hold their value, and price increases each model year are very low.
And, of course, I'll inherit it.
Neither are the "high end of the market"..the CR-V has two trim level above the EXs, way more expensive..up to just under $40k, then add them se fees on top of that price.
Last year we paid $16k for a used Honda HRV, a smaller AWD SUV..entry level Honda now (the Fit is no longer made).

2) we've been looking at mini splits, and I will agree with you on that one... The higher the SEER, the better, but it also needs to account for your particul energy provider rates.
So, I'll agree it's a mixed bag.

3) you are talking about the expensive fridges. We bought a new regular top freezer 17 cf fridge. Simple. NO ice maker, NO in door ice/water dispenser NO 'touch clear door light up to see in before you open it. It also WONT talk to us, nor reorder food, no internet connection, just a fridge...on sale for $499 labor day 4 years ago.
Yes, you can buy a $3k-4k (maybe even more), but I want simple "keep my food chilled or frozen" unit. It doesn't even have a light bulb in the freezer..it's dark in there.
I/we don't need no stinking "Ulta high plus-up huge freezer that will mix me a cool drink....and deliver it my porch chair on a hot day model. And NO we don't need it TALKING to us, or giving me a recipe for dinner based on contents, or ordering missing items to make that recipe!!

4) I ALWAYS compare store brand/generic to name brand items... because yeah, the store brand may cost more...that's the store taking advantage of the "the generic is cheapest" mentally we are so indoctrinated with from years/decades ago when that WAS true. Stores also list different stats for pricing guides on shelf tags so one may "look cheaper" than the other. If anyone fails to actually comparison shop..that's on THEM, NOT the store or manufacturer.

5) Again..it always pays to comparison shop!! And with a Walmart at one end of our local plaza, and Sam's club at the other end (the 'anchor' stores). It's also true you can buy "Sam's Choice" items in the Walmart.. regardless of price.

And, reading ALL the sales ads... especially this time of year...or any holiday sale...then go buy what you want at a price you want wherever those items are cheaper, and look for "free delivery".. the free delivery item might be $25 more at one store...but the other store's $25 less price needs to have a $75 delivery fee added to the price... which, again, only means it PAYS to... comparison shop!!!

Best
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Old 11-16-2022, 03:53 PM
 
23,592 posts, read 70,391,434 times
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RE:
#1. I just spent a couple thousand on repairs to my 95 van. Even if I only get a couple more years out of it, it is worth it to me. If I have to do a replacement, it'll need to be a beater at around $5000, which means it will likely have problems. $30K for a vehicle plus higher insurance and taxes is out of reach if I want to remain financially independent. YMMV, but there are some of us who do well only because we can make pennies scream. Another major reason for me on keeping the vehicle I have is that I know EXACTLY how wide it is, how tall it is, how it handles - all are complete muscle memory now. There have been a few times that knowledge has saved me from being in an accident. Once I "threaded the needle" between two cars that were about to crash at speed. It was my only option, and the escape was by fractions of an inch.

#3. Walk into your local Lowes. BASIC refrigerators with around 13 ft3 capacity are now around $600. I just checked. A few years ago they were half that price. I have an large upright freezer, other than auto defrost, no bells or whistles. I would have to pay around $1000 to get a replacement. Literally, if I need a freezer, it might end up being cheaper for me to construct my own and drop in a compressor and coils from a junker.

#5. Sales ads. Those are often only distributed in cities, or require a subscription to a print newspaper. The Huntsville AL paper will be going 100% digital in February, the local penny saver stopped publishing in June. Online ads are a complete disaster as far as efficient scanning for comparison.
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Old 11-18-2022, 02:01 PM
 
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Trying to find simple basic, manually operated ANYTHING seems impossible. Seems only products with ALL the bells and whistles imaginable are worth selling. I am sure its NOT because consumers demand the computerized ash trays and self aware robot appliances. Its more about maximizing profit and only the illusion of choice.


As to refrigerator, several years ago now but my antique from 60s finally went to appliance heaven. I couldnt find a 10cuft or bigger manual defrost refrigerator. So I bought a 10cuft GE chest freezer (made in China of course like all good American brands) and replaced the thermostat with $10 universal refrigerator thermostat off ebay. Works fine, do have to mop out bottom of it in humid times of the year on regular basis. But efficient, my gosh that thing lowered my electric bill significantly. I was up around $50 a month. Brought it back down to around $30 a month. Though rate increases getting it back towards $50 in summer. Bill I got today was $35.


As to cars. Seriously if you need a commuter car that is super reliable I suppose you do what you have to do assuming your job pays enough to make it viable, but cars new or used simply arent priced for those of us retired that drive less than 2000 miles a year. Even used one that will actually go down road kinda starts around $3500 and it will be high mile with a high mile automatic ready to fail at any moment. Dont even try to find a manual transmission car anymore, they just dont exist. Just watched a Scotty Kilmer video this morning on Ford Maverick (the current mini four door pickup not the 70s compact car). Four door mini pickup with electronic transmission, what exactly is purpose of that, just a FRONT DRIVE sedan minus its trunk lid. And it comes with a turbo charger. Scotty going on and on how well it handles and how its cheaper than a Model T considering inflation. If so then wages sure havent kept up with inflation! All I could think was this thing will be an impossible money pit once it gets down to affordable used price. There just arent any mechanically SIMPLE and EASY TO REPAIR cars anymore. All BELLS AND WHISTLES kind of engineering. Again they cant charge outrageous price for simple so they dont offer it. Its not that nobody wants cheap and simple, its that the people willing to pay crazy money for a vehicle dont want cheap and simple. They want to impress their neighbors or something. And guess there are enough well heeled fools that they dont need to offer a product for the lower end of the market. Remember when those that couldnt afford bells and whistles could buy a full size car with straight six and three on the tree and no chrome and cloth seats for reasonable price? Slow and not flashy in slightest, but affordable/practical to every Joe Lunchbox. Now you cant even find a mini micro with manual transmission. Car without AC, whats that?
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Old 12-07-2022, 07:05 AM
 
13,005 posts, read 18,903,092 times
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Quote:
Originally Posted by Avondalist View Post
A fair number of people understand saving and investing, the time value of money and future orientation.

It seems the biggest knowledge gap is around diversification. People will make blanket statements this way or that way, but the hard thing to understand is that no one really knows. Diversification hedges this uncertainty. It seems like a lot of people don't know, that no one knows.
True, and I have noted many investment fads over the years: gold, oil, tech, penny stocks, even Beanie Babies. And especially, don't buy on margin!
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Old 12-07-2022, 07:11 PM
 
6,769 posts, read 5,485,821 times
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Quote:
Originally Posted by harry chickpea View Post
RE:
#1. I just spent a couple thousand on repairs to my 95 van. Even if I only get a couple more years out of it, it is worth it to me. If I have to do a replacement, it'll need to be a beater at around $5000, which means it will likely have problems. $30K for a vehicle plus higher insurance and taxes is out of reach if I want to remain financially independent. YMMV, but there are some of us who do well only because we can make pennies scream. Another major reason for me on keeping the vehicle I have is that I know EXACTLY how wide it is, how tall it is, how it handles - all are complete muscle memory now. There have been a few times that knowledge has saved me from being in an accident. Once I "threaded the needle" between two cars that were about to crash at speed. It was my only option, and the escape was by fractions of an inch.

#3. Walk into your local Lowes. BASIC refrigerators with around 13 ft3 capacity are now around $600. I just checked. A few years ago they were half that price. I have an large upright freezer, other than auto defrost, no bells or whistles. I would have to pay around $1000 to get a replacement. Literally, if I need a freezer, it might end up being cheaper for me to construct my own and drop in a compressor and coils from a junker.

#5. Sales ads. Those are often only distributed in cities, or require a subscription to a print newspaper. The Huntsville AL paper will be going 100% digital in February, the local penny saver stopped publishing in June. Online ads are a complete disaster as far as efficient scanning for comparison.
Well, harry, here's my reply (yeah a little late):
1) my father wanted something reliable, with a speedometer he could read. It's a '93, 30 years old, and don't want it. He's also seen the value of front wheel drive and AWD, but his van is RWD. He wanted to upgrade to AWD.
He's 88, he's already said he will give up driving. I will then inherit that vehicle. He wanted something I'd appreciate, not an antique box on wheels.
And lastly, no repair shop wanted to even TRY to change the real engine oil seal. If you're unfamiliar, it means disconnecting and dropping out the transmission, and taking Half the back of the engine apart to remove and install the real main engine oil seal.
With cars as such, if the rear main engine oil seal leaks, it's a death sentence for an engine, usually.
His usual repair shop said 'well, if we even get the part, it'd be at least 2 weeks to repair,' they couldn't get to it until 2 weeks after he talked to them, they hemmed and hawed on trying to give an estimate they just said it'd start at least at $2k.
It's his ONLY transport, no public trans way out in his neck of the woods so.. waiting a month or more is too much.
Now do you see?

3) apparently you didn't see we bought that 4 years ago.
My point was to the OPs statement of "high cost of fridge" to replace one.
I merely pointed out that one doesn't NEED a $3,4,6k fridge when a basic will do. And ours is energy star.


5) the local penny saver here still puts ads in. And if you want to, you can pay the exorbitant price for about 8 pages of the local newspaper..just buy it on Sunday. And no guarantee of any inserts. Paper coupons went away in the mid 90s.
Each grocery store here has an electric and, and electric store coupons.
We only have smart phones.
Trying to pull up e ads for EACH store to compare prices/sales would be... ridiculous.

Everyone can do what they choose.

But I'll take his AWD Honda. It's free to me, whatever I get out of it is 'pure profit".

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Old 12-08-2022, 09:38 AM
 
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"penny saved is a penny earned"

This is one of the biggest factors in my financial success over my peers outside of my job.

I got into auctioning years ago. I go to local auctions and get things I need for pennies on the dollar. Got a good running truck for $1200 that I still have as my workhorse to this day, prob would have been worth $8k at the time.

Decor for my house at $1 a pop that would have been $50+ at any home store.

lawn equipment like riding mowers for $150. Lawn thatcher for $30.

Even trees and shrubs for landscaping around my house for $2-3 vs the $100 you'd pay at homedepot.

one spring won 50 bags of black mulch for $5. Buy 1 get 49 free lol.

It helped shift my overall mentality about money, plus I really enjoy going to the auctions. I've saved tens of thousands by auctioning and used those savings to put towards investments which have made me hundreds of thousands.
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Old 12-08-2022, 10:48 AM
 
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Quote:
Line dry clothes. May not be allowed where you live, and it takes too long.
This is definitely an example of pennywise pound foolish. How many people do you know (who have gone from lower/working class to successful) actually do this type of type? Probably very few to none.

Because successful people focus their time and energy on learning skills and advancing their career rather than pinching pennies. And with the limited free time they do have, they'd rather spend it on experiences that are fun, novel, educational, potentially life-changing.
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Old 12-08-2022, 12:09 PM
 
2,170 posts, read 1,953,992 times
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Quote:
Originally Posted by lair8 View Post
This is definitely an example of pennywise pound foolish. How many people do you know (who have gone from lower/working class to successful) actually do this type of type? Probably very few to none.

Because successful people focus their time and energy on learning skills and advancing their career rather than pinching pennies. And with the limited free time they do have, they'd rather spend it on experiences that are fun, novel, educational, potentially life-changing.

Very well said. A lot of frugal people lose sight of this. I remember as a kid watching my father hand dig a trench over an entire weekend. I asked him why he didn't just rent a trench digger for $100 for 4 hours and he said "cause I can dig it myself and save the $100". He spent the whole weekend, 12 hours each day digging this ridiculously long trench. That works out to $4 an hour for manual labor.
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Old 12-08-2022, 12:22 PM
 
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This may sound mean. But these types of working class that stay forever working class. The type that spend $5 in extra gas driving around for a half hour to find a gas station thats 12 cents cheaper so they can save a few dollars.
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Old 12-08-2022, 12:25 PM
 
2,170 posts, read 1,953,992 times
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Quote:
Originally Posted by lair8 View Post
This may sound mean. But these types of working class that stay forever working class. The type that spend $5 in extra gas driving around for a half hour to find a gas station thats 12 cents cheaper so they can save a few dollars.
I was actually just thinking about this. We have a Costco in town and the lines for gas are 15 cars long. You're waiting 30 mins to save $2 to fill your tank.
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