how to become an extreme saver

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Jens_Cats
Posts: 465
Joined: Sun Aug 30, 2015 1:41 pm
Location: Jefferson County, WV

Re: how to become an extreme saver

Post by Jens_Cats »

EllenMarie wrote: I was just at a financial seminar on college funding (though I seemed to know a bit more than them and I ended up answering the questions so Idk what we really got out of that one-they had been out of college for many years and FAFSA just changed so you would think they would get more info on that which I was hoping for,but I knew more only bc I had two kids that did it this past Oct!). Anyways,they were saying a million dollar retirement was NOT enough for someone these days-and I remember thinking OH great I am already screwed then! LOL!
WOW. Well, really, we can only do the best we can. I do NOT want to re-enter the workforce full time. It was awful for me, and I am having health issues.

I love your posts. You are so funny and wise! :)

Jen M.
Sage Alley: My green/simple living blog:
http://sagealley.blogspot.com
frugalmom
Posts: 1710
Joined: Fri Aug 28, 2015 10:52 pm

Re: how to become an extreme saver

Post by frugalmom »

Jens_Cats wrote:
EllenMarie wrote: I was just at a financial seminar on college funding (though I seemed to know a bit more than them and I ended up answering the questions so Idk what we really got out of that one-they had been out of college for many years and FAFSA just changed so you would think they would get more info on that which I was hoping for,but I knew more only bc I had two kids that did it this past Oct!). Anyways,they were saying a million dollar retirement was NOT enough for someone these days-and I remember thinking OH great I am already screwed then! LOL!
WOW. Well, really, we can only do the best we can. I do NOT want to re-enter the workforce full time. It was awful for me, and I am having health issues.

I love your posts. You are so funny and wise! :)

Jen M.
Awwww,shucks! Thank you for being so kind!
frugalmom
Posts: 1710
Joined: Fri Aug 28, 2015 10:52 pm

Re: how to become an extreme saver

Post by frugalmom »

SandiSAHM wrote:
Heloise wrote:
EllenMarie wrote:I can't imaging getting in on the housing market as a first-time buyer. The down-payment alone is over the top for even a below average purchase. Homeownership isn't what it used to be.


I don't understand how anyone RENTS. We were in a 1700sq ft house on over in acre in a semi-rural area paying less than 670 a month on our mortgage, and had to move to get closer to DH's work. So we sold that house and contracted to have another built - in the meantime we rented a 2 bd apartment... for $1034 a month!

Which would have been one thing if rent had included water and electric but it didn't and there must have been some kind of premium for that water, LOL, it was 3 times what we paid out in the sticks (we were on rural water distribution, not a well).

I told DH when this house was nearly done, it's a good thing, because we can't afford the apartment.

The house, water, electric and natural gas COMBINED don't add up to $1034 a month, much less any MORE than that, and this is a high property tax area, so the mortgage is a bit more than the last one. Whew!

How anyone can save a down payment while being reamed on rent and utilities is a mystery. When I last (oh, wow, 1992!) lived in an apartment for any period of time, it was less than $500 a month WITH water included!

How times have changed!!
Out here my mom charges over 1000.00 for a bedroom-you share the kitchen area and living room area but the girls who rent seldom come out of their rooms even! Another reason my husband refuses to move in with my mom bc he says I am not living there with strangers! I know my nephew rents for around 2500-2700.00/one small bedroom apt(I forgot which it was 2500 or 2700.00 but I remember that was more than our old mortgage and I am thinking how kids can afford it today? Of course, he is in the computer industry and easily makes double than we do! His birthday just passed and I was asking his mom what should we get him and she says he has everything and makes more than all of us so don't get him anything! Ok fine with me bc I never know what to get someone who gets everything and has everything!

My mom also rents apartments out from 3k to 6k per month in SF(these are two bedroom one but in a nice area-but still old ones). These are only apartments-sheesh-wonder how much houses are!? My dh's co-worker just bought over a million dollar house(old on SF) and he works 7 days a week and overtime to make the payments but he shares with a brother and his family but still with all that Idk how they afford it. Even in the apartments you find sometimes two or three families living there to afford it. My bil also rents out a townhome and found out the lady he rented the house to,sub-let each room out and she gets the money from those rooms to pay the rent and make money for herself bc she does not work! Even in the living room and garage there was someone!!! They broke the bathroom and tried to fix it themselves but made it worse so my bil had to pay to fix the entire bathroom and so it is new now and I told him maybe that is not agood idea bc now they may think whenever you break something they will get something new in and then keep breaking things!? And he was upset bc it was like a show on the hoarder's shows he could not even walk through so he told them to clean it up.

We have a girl we know from our old school,she had twins so ended up with a surprise 5 kids. So a new landlord bought her duplex and the property manager told her you are one child over than what they had in the contract,their house is a fire hazard with boxes all over(bc of twins they did not have time to unpack when they moved in so things in boxes still and only essentials out),the dog that was allowed before is no longer allowed with this new landlord so they had til the last of Dec to move out and her dh just got injured on the job when a vehicle rammed his security truck and he was pinned under the wheel and broke his back. So cannot work-she had a terrible Christmas and was so stressed out but the landlord would not extend-it was actually the property management and it was bc they really wanted her out to fix the place up and increase the rent even more. So she had to look at a faraway city for even cheaper rent! So over here people have a hard time finding affordable housing!
Heloise
Posts: 835
Joined: Sat Dec 17, 2016 12:11 pm

Re: how to become an extreme saver

Post by Heloise »

EllenMarie wrote:Out here my mom charges over 1000.00 for a bedroom-you share the kitchen area and living room area but the girls who rent seldom come out of their rooms even! Another reason my husband refuses to move in with my mom bc he says I am not living there with strangers! I know my nephew rents for around 2500-2700.00/one small bedroom apt(I forgot which it was 2500 or 2700.00 but I remember that was more than our old mortgage and I am thinking how kids can afford it today? Of course, he is in the computer industry and easily makes double than we do! His birthday just passed and I was asking his mom what should we get him and she says he has everything and makes more than all of us so don't get him anything! Ok fine with me bc I never know what to get someone who gets everything and has everything!

My mom also rents apartments out from 3k to 6k per month in SF(these are two bedroom one but in a nice area-but still old ones). These are only apartments-sheesh-wonder how much houses are!? My dh's co-worker just bought over a million dollar house(old on SF) and he works 7 days a week and overtime to make the payments but he shares with a brother and his family but still with all that Idk how they afford it. Even in the apartments you find sometimes two or three families living there to afford it. My bil also rents out a townhome and found out the lady he rented the house to,sub-let each room out and she gets the money from those rooms to pay the rent and make money for herself bc she does not work! Even in the living room and garage there was someone!!! They broke the bathroom and tried to fix it themselves but made it worse so my bil had to pay to fix the entire bathroom and so it is new now and I told him maybe that is not agood idea bc now they may think whenever you break something they will get something new in and then keep breaking things!? And he was upset bc it was like a show on the hoarder's shows he could not even walk through so he told them to clean it up.

We have a girl we know from our old school,she had twins so ended up with a surprise 5 kids. So a new landlord bought her duplex and the property manager told her you are one child over than what they had in the contract,their house is a fire hazard with boxes all over(bc of twins they did not have time to unpack when they moved in so things in boxes still and only essentials out),the dog that was allowed before is no longer allowed with this new landlord so they had til the last of Dec to move out and her dh just got injured on the job when a vehicle rammed his security truck and he was pinned under the wheel and broke his back. So cannot work-she had a terrible Christmas and was so stressed out but the landlord would not extend-it was actually the property management and it was bc they really wanted her out to fix the place up and increase the rent even more. So she had to look at a faraway city for even cheaper rent! So over here people have a hard time finding affordable housing!
Those are some grim figures. I get the population explosion scenario thing, but am at a complete and total loss as to comprehending how today's younger generation will ever afford and own a proper home, aside from the select (low percentage) who are fortunate enough to embark upon a professional career/journey.

We greeted the 2007 - 2008 market crash with open-arms, and although I know it made for a lot of hurting people, I feel the time has come for another market crash, where those who are financially prudent can capitalize on getting their foot in the door to a better, more well deserved life, because as it stands the imbalance that exists today is deplorable.
frugalmom
Posts: 1710
Joined: Fri Aug 28, 2015 10:52 pm

Re: how to become an extreme saver

Post by frugalmom »

Heloise wrote:
EllenMarie wrote:Out here my mom charges over 1000.00 for a bedroom-you share the kitchen area and living room area but the girls who rent seldom come out of their rooms even! Another reason my husband refuses to move in with my mom bc he says I am not living there with strangers! I know my nephew rents for around 2500-2700.00/one small bedroom apt(I forgot which it was 2500 or 2700.00 but I remember that was more than our old mortgage and I am thinking how kids can afford it today? Of course, he is in the computer industry and easily makes double than we do! His birthday just passed and I was asking his mom what should we get him and she says he has everything and makes more than all of us so don't get him anything! Ok fine with me bc I never know what to get someone who gets everything and has everything!

My mom also rents apartments out from 3k to 6k per month in SF(these are two bedroom one but in a nice area-but still old ones). These are only apartments-sheesh-wonder how much houses are!? My dh's co-worker just bought over a million dollar house(old on SF) and he works 7 days a week and overtime to make the payments but he shares with a brother and his family but still with all that Idk how they afford it. Even in the apartments you find sometimes two or three families living there to afford it. My bil also rents out a townhome and found out the lady he rented the house to,sub-let each room out and she gets the money from those rooms to pay the rent and make money for herself bc she does not work! Even in the living room and garage there was someone!!! They broke the bathroom and tried to fix it themselves but made it worse so my bil had to pay to fix the entire bathroom and so it is new now and I told him maybe that is not agood idea bc now they may think whenever you break something they will get something new in and then keep breaking things!? And he was upset bc it was like a show on the hoarder's shows he could not even walk through so he told them to clean it up.

We have a girl we know from our old school,she had twins so ended up with a surprise 5 kids. So a new landlord bought her duplex and the property manager told her you are one child over than what they had in the contract,their house is a fire hazard with boxes all over(bc of twins they did not have time to unpack when they moved in so things in boxes still and only essentials out),the dog that was allowed before is no longer allowed with this new landlord so they had til the last of Dec to move out and her dh just got injured on the job when a vehicle rammed his security truck and he was pinned under the wheel and broke his back. So cannot work-she had a terrible Christmas and was so stressed out but the landlord would not extend-it was actually the property management and it was bc they really wanted her out to fix the place up and increase the rent even more. So she had to look at a faraway city for even cheaper rent! So over here people have a hard time finding affordable housing!
Those are some grim figures. I get the population explosion scenario thing, but am at a complete and total loss as to comprehending how today's younger generation will ever afford and own a proper home, aside from the select (low percentage) who are fortunate enough to embark upon a professional career/journey.

We greeted the 2007 - 2008 market crash with open-arms, and although I know it made for a lot of hurting people, I feel the time has come for another market crash, where those who are financially prudent can capitalize on getting their foot in the door to a better, more well deserved life, because as it stands the imbalance that exists today is deplorable.
It is not even the population explosion, it is that to survive so many families have to live together just to pay the rent. You may have like 10 people living in a one bedroom apartment(although hidden from the landlord) just to pay the skyrocketing rents which are out of control. SF has all the high tech people which basically has taken over and so others cannot afford to keep up with the rents. My bil who is a CPA was telling us one couple from India with a special visa makes 500,000.00 a year bc they can read the codes and understand them and more than a lifetime of money in India that they don't know what to do with the money it is so much to them! If we can start having classes for our children growing up so they are comfortable with that language and make those who are interested a specialized curriculum to include that for kids who want to go into computers that would be training our own workforce.
SandiSAHM
Posts: 2263
Joined: Fri Aug 28, 2015 11:46 am
Location: Oklahoma

Re: how to become an extreme saver

Post by SandiSAHM »

EllenMarie wrote:We have a girl we know from our old school,she had twins so ended up with a surprise 5 kids. So a new landlord bought her duplex and the property manager told her you are one child over than what they had in the contract,their house is a fire hazard with boxes all over(bc of twins they did not have time to unpack when they moved in so things in boxes still and only essentials out),the dog that was allowed before is no longer allowed with this new landlord so they had til the last of Dec to move out and her dh just got injured on the job when a vehicle rammed his security truck and he was pinned under the wheel and broke his back. So cannot work-she had a terrible Christmas and was so stressed out but the landlord would not extend-it was actually the property management and it was bc they really wanted her out to fix the place up and increase the rent even more. So she had to look at a faraway city for even cheaper rent! So over here people have a hard time finding affordable housing!
I have an acquaintance from HS whose DH has Parkinson's. They made the request of their landlord (in AZ), asking him to renovate the bathroom in the house they'd been renting for 20 years (ok, an aside - who RENTS for 20 YEARS?!?) to make it ADA compliant.

The landlord evicted them instead.

I'm fuzzy on how that's even LEGAL. He could have just said "no," and been done with it, leaving them to make up their own minds about staying vs. going but... That said, I'm not sure how great they are at making their rent on time, keeping the place up, etc., as even before he was sick he was lazy as sin and she's always had issues with focus.

As for CA rent... I'd never live in CA. I've been spoiled, I guess, by always living in far more COL-friendly areas, but if I'd lived in CA it would only have been long enough to find another job and get out of there. While I guess a few Californians could and do relocate in favor of lower COL, right now I suppose wherever you can find work, that wins :D . As soon as I retired, though, bam, sell the house and get out. The middle of the country is cheaper on the whole than either coast. Many would argue it's not as pretty (its not, I crave a beach), but it's livable.

In my neighborhood, where there are many an immigrant family from a specific Asian country (I wonder what the prez's people would think out here) living here specifically for the quality of the local public schools, there are families sharing houses, and even in 4 bedroom houses I don't know how they're putting up ALL those children, even bunkbeds don't make that kind of volume comfortable, and I know it looks odd to those of us less accustomed to communal multi-generational living. I imagine it makes things a lot more affordable, though. The only problem I have with it is they tend to butcher chickens (I am not kidding, we can't raise poultry here in city limits but they're getting the birds from somewhere in bulk) in the garage with a hose running and I can't see how that's great for the runoff water system. Not sure the public works people are aware. I don't care if you want to pluck your own chickens, whatever rocks your boat, but as a vegetarian having to jump the runoff while out for a walk skeeves me out and as someone has a line on the water bill for what is that... surface & runoff water? something like that, it makes me wonder how that's handled properly. I also wonder what they do with the feathers.
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