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Author: TMFTwitty Big funky green star, 20000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 884973  
Subject: Greetings, Fool! Date: 7/9/1998 7:00 PM
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You will often hear us preach that the first step to investing is to get out of debt. And the first step to getting out of debt is to live BELOW your means! How do you Fools do it?

Share your ideas and methods, be it brown bagging or foregoing that third vacation home in Aruba!
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Author: TMF2Aruba Big funky green star, 20000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 2 of 884973
Subject: Re: Greetings, Fool! Date: 7/9/1998 7:11 PM
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Share your ideas and methods, be it brown bagging or foregoing that third vacation home in Aruba!

Say it ain't so, Twitty! Say it ain't so! Anything but that!!

Okay, okay. I'll bite. So what does it actually mean to live below your means. Is it frugality? Is it being cheap? Is it doing without the things you really want? Is it the ultimate in sacrifice?

I had an aunt who never had money problems. But one thing that she did was to wash the Reynolds Wrap. Yep! You heard me, she reused aluminum foil. Again and Again.

(Curses! Foiled again!)

But come to think of it....

Why not?

Tony
...but I still am...

Off2Aruba

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Author: cable666 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 3 of 884973
Subject: Re: Greetings, Fool! Date: 7/9/1998 7:14 PM
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Thank you. This is now on my favorites list.

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Author: Meowiz Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 5 of 884973
Subject: Re: Greetings, Fool! Date: 7/9/1998 8:55 PM
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Thanks for adding this board! The foil washing story reminded me of people I used to know who kept a big pile of small white towels in the kitchen to use instead of paper towels. Like the size of a dish towel, white terry. White ones can be bleached to bring back to perfectly clean. They used them for anything you would use a papertowel for except not throwing them out...washing instead.(Separate piles for food preparation towels and cleaning towels) You could even get huge bath sheet-towels at an outlet and cut them up and edge the sides. I like not wasting so much paper...I'm not sure if it saves money with all the washing towels, but I may try it. meowiz

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Author: belwah Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 8 of 884973
Subject: Re: Greetings, Fool! Date: 7/10/1998 9:50 AM
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My mother washes out plastic baggies (especially the zip-lock kind, but even the sandwich bag kind), and puts them over the sink faucet to dry. It could be really annoying when you weren't paying attention and tried to use the sink. Water would spray EVERYWHERE! I'm frugal, but I've drawn the line on saving plastic baggies! (But I sure am glad she taught me about clipping coupons and comparison grocery shopping. It saves me at least 20% on my food bill each month.)

Glad to see this board here...Great idea Fools!

Pam

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Author: mtnmama Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 367 of 884973
Subject: Re: Greetings, Fool! Date: 7/21/1998 12:07 PM
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I wash out plastic baggies!! Not necessarily to save money, but to save the environment. My husband finds this to be a MOST annoying habit ...
I was thrilled to run across this board this morning. I am feeling rich because I have given myself the summer off - to be a mom and housewife. Three months. I even wrote "HOUSEWIFE" on an application on the employment line! With pride!

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Author: RecoveringFool Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 368 of 884973
Subject: Re: Greetings, Fool! Date: 7/21/1998 12:16 PM
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Chopsticks standing in a dish drainer are a good way to dry the baggies. I usually buy ziplocks because they last through many washings. Once you can afford not to do this, it's almost impossible to break the habit;)

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Author: mtnmama Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 446 of 884973
Subject: Re: Greetings, Fool! Date: 7/22/1998 12:08 PM
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I put two cup hooks at either end of my upper kitchen cabinets and string one of those temporary clothes lines with attached clips ... lets me hang a few more baggies at a washing ... you're right, RecoveringFool, it's an impossible habit to break!

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Author: Longvester Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1761 of 884973
Subject: Re: Greetings, Fool! Date: 8/6/1998 11:40 AM
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I'm neither chinese nor japanese but I use chopsticks most of the time. Saves time and water washing dishes.

Now, if only my wife can learn the skill.. :-(

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Author: johndinca Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 1835 of 884973
Subject: Re: Greetings, Fool! Date: 8/6/1998 11:13 PM
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But you kill so many trees in the process.J/K :-)

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Author: scottfm Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 67211 of 884973
Subject: Re: Greetings, Fool! Date: 7/26/2000 4:41 PM
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I'm here to learn how to live below my means!

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Author: scottfm Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 67212 of 884973
Subject: Re: Greetings, Fool! Date: 7/26/2000 4:42 PM
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My mother washes out plastic baggies

my wife does that, too. I thought it was kind of strange at first, but then I saw that we didn't need to buy nearly as many baggies, and I like the savings.

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Author: scottfm Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 67215 of 884973
Subject: Re: Greetings, Fool! Date: 7/26/2000 4:48 PM
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I wash out plastic baggies!! Not necessarily to save money, but to save the environment

right on. that's a good reason, too.

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Author: joebedford Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 276959 of 884973
Subject: Re: Greetings, Fool! Date: 5/12/2002 1:29 AM
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Okay, I admit--there is no purpose to this post, except I can now I say I participated in the first thread on the LBYM board. :-p

Thanks!
Joe

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Author: silverwing101 Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 276960 of 884973
Subject: Re: Greetings, Fool! Date: 5/12/2002 1:43 AM
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slow night???

s'wing - had coffee way too late tonight

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Author: TheMotleySpy Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 355967 of 884973
Subject: Re: Greetings, Fool! Date: 1/4/2003 12:48 AM
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You will often hear us preach that the first step to investing is to get out of debt. And the first step to getting out of debt is to live BELOW your means! How do you Fools do it?

Share your ideas and methods, be it brown bagging or foregoing that third vacation home in Aruba!


I know I'm jumping into this conversation a little bit late, but I usually do it while talking on my cell phone while driving my H2 to my sailboat, which is docked at the lake where I have an overpriced cabin. What do I do? I don't eat shrimp cocktail while driving anymore. The money I save puts me in the black.

Spy

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Author: patchdodd Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 356114 of 884973
Subject: Re: Greetings, Fool! Date: 1/5/2003 10:43 AM
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And the first step to getting out of debt is to live BELOW your means! How do you Fools do it?

I didn't realize there was a board for this. Could someone point me toward some relevant posts on the subject?

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Author: kkmail Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 838255 of 884973
Subject: Re: Greetings, Fool! Date: 4/19/2010 2:05 AM
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Look at your habits first.. Is it a habit that you go out to restuarants ? Smoke ? Drink ? Buy a new car every 3 years ? Buy expensive gifts ? Travel to exotic places every year for vacation ? Then my friend if you will please cut back on any of your habits,, take the money you have saved and become a fool !!!!! It will probably be fun for you to watch your money grow versus watch it fly away !!

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Author: AJRII Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 840040 of 884973
Subject: Re: Greetings, Fool! Date: 6/16/2010 3:21 PM
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Simple a BUDGET is the first step. Write down all your money you are going to make for the month and spend it on paper. Then do some long term forecasting e.g. a year. You will be amazed at how much you spend on different items. I sat down with multiply couples and individuals and found the biggest item or problem is no plan with there money. Most of them cannot believe what they spend in restaurants or on fast food. To start I tell most people to carry a small pocket colander for about one month and write every penny you spend down in it. Most are shocked at what they spend. As far as the washing zip lock bag, how about just buying plastic containers, The washable napkins is something I recommend to people, but a funny story on that actually know a couple who did that but when their parents can to dinner they did not use the cloth napkins because they felt weird. One other point buys your gift cards online at a discount. I could go on and on, because I actually teach this stuff. Anyways once you do a long term budget and change your money spending habits, the living frugal will come easy and you won’t even feel it.

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Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 840042 of 884973
Subject: Re: Greetings, Fool! Date: 6/16/2010 4:09 PM
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pocket colander

Still trying to visualize one.

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Author: shirtmeister Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 844983 of 884973
Subject: Re: Greetings, Fool! Date: 10/14/2010 10:09 AM
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1. **Got rid of my debt

2. Find the best deals on cellphone service (Cut my bill down from $100/mo to $43/mo)

3. Stopped taking cabs.

4. Walk home from work each day (3 miles, good if you live in a walkable area only)

5. Eating more fruits and vegetables, as expensive as they may seem, has cut down my food bill.

6. I only buy coffee when on the road -- otherwise I make it at home or get it free at work.

7. Huge help -- I got a roommate to cut down on the overpriced cost of renting in NYC (cheaper than moving when factoring in commuting/moving costs).

8. Stopped eating at restaurants as a form of socializing. I now eat out only very occasionally.

9. Bring my lunch to work.

10. Stopped smoking!

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Author: HarryCarysGhost Three stars, 500 posts CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 845541 of 884973
Subject: Re: Greetings, Fool! Date: 10/30/2010 12:06 AM
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One trick I've been using- Every day save your change from every transaction. Never pay with exact change. (If somethings $8.01,pay with dollars then get your .99 and throw it into the jar.

It's pay'in for Christmas this year.

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Author: simplyme24 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 845891 of 884973
Subject: Re: Greetings, Fool! Date: 11/5/2010 12:46 PM
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Ha! I like this thread.
One thing about budgets: I've always had such a hard time with them, but I guess my problem is not what you would expect. Every time I sit down to put together one, I end up stressed out and discouraged because according to every single one of my budgets we end up deep in the red every month.
In reality, however, I have been able to save pretty much every month with a rare exception; over the last 12 years (only six of which I've been out of school, by the way) my personal net worth has definitely increased, so I know I'm not just imagining things. I also am trying to do a good job on a budget - estimating things to the best of my ability etc., but always end up with the same result.
Well, I finally swore off doing budgets, and we have been just trying to be judicious with our expenses... Works so far!

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Author: gdett2 Big red star, 1000 posts Old School Fool Ticker Guide Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 845893 of 884973
Subject: Re: Greetings, Fool! Date: 11/5/2010 2:36 PM
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Simply,

I have a similar experience with budgets. I use(d) a budget to plan for the future (now and next year) but not for today or tomorrow. Sounds silly but ...

Any budget is strictly a plan. When I was in the Marines earning $80 a month, I had a detailed budget for every penny I made that left $2/mon for entertainment and eating out. It was at times frustrating but I was able to save a little.

After a while, I knew my spending needs/habits and the budget was less important for daily/monthly purposes.

When I went overseas, I used a budget/spending plan to buy the things that were advantagious to buy overseas. I knew what I could afford and when I could buy it.

In planning for retirement, I did a lot of work to derive a resonable budget 15 years ahead of time. I continually revised that as the years went on.

Now we are 5 years into retirement and I still use the plan and tweek it as changes occur.

It isn't a daily or even weekly thing, more like quarterly.

Since we live off savings, I track how much savings are going up on an annual basis to insure we are funded for the future.

Gene
http://www.taylortel.net/~gdett2/

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Author: mooncrow Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 848984 of 884973
Subject: Re: Greetings, Fool! Date: 1/31/2011 1:17 PM
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Hi Shirtmeister,

Just curious, we go out to restaurants with friends frequently to socialize, did you find a substitute social activity in place of this, or ??

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Author: Josef508 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 849049 of 884973
Subject: Re: Greetings, Fool! Date: 2/2/2011 2:42 PM
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I agree with the BUDGET concept 100%. However, I'm looking for budget guidelines in terms of percentages for my son as he is just starting out. I’d like to address this in terms of building the very first budget. He is in college living off campus and knows everything - almost. His mind requires that a budget be defined in terms of Rent XX%, Utilities YY%,

Your recommendation to write down all you spend, and look for areas to reduce is okay for established couples looking for areas to FIND money they’ve been spending, and then redirect it to savings or paying off bills, or whatever is required. But what if you don’t have a history? How does one put together an initial budget? I gave my son some guidance based upon a typical mortgage company might like to see 25% of monthly income toward the PTI, and 33% maximum for all monthly payments (CC, Student Loans etc.).

Anyone here ever run across a list of basic guidelines to create their very first budget? The kid likes to play with numbers; so if you have any to share please post them.

ADV –thanks – ANCE

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Author: ragick Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 851014 of 884973
Subject: Re: Greetings, Fool! Date: 3/29/2011 1:00 PM
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Living below your means is a definition for the word "SACRIFICE".
Giving up some of the things that bring us immediate gratification for the rewards we will receive in the long run, when looking back isn't all that long.

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Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 851015 of 884973
Subject: Re: Greetings, Fool! Date: 3/29/2011 1:18 PM
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Your recommendation to write down all you spend, and look for areas to reduce is okay for established couples looking for areas to FIND money they’ve been spending, and then redirect it to savings or paying off bills, or whatever is required. But what if you don’t have a history? How does one put together an initial budget? I gave my son some guidance based upon a typical mortgage company might like to see 25% of monthly income toward the PTI, and 33% maximum for all monthly payments (CC, Student Loans etc.).

Care needs to be taken with recommended percentages for budgeting. The recommendations give high percentages for servicing current debt. The recommendations also are for those who are working.

If you don't have a history, then estimating expenses for the first year and keeping good records is the simplest alternative.

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Author: edfariscal Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 852141 of 884973
Subject: Re: Greetings, Fool! Date: 5/11/2011 10:55 AM
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Don't buy what you cannot afford

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Author: TMFHunzi Big red star, 1000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 852162 of 884973
Subject: Re: Greetings, Fool! Date: 5/11/2011 2:57 PM
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edfariscal,

Welcome to the Motley Fool!

Thanks for sharing at Living Below Your Means! If you're starting with post #1, you have a LOT of reading ahead of you!!!

I hope you enjoy your time at the Fool and that you keep jumping in!

Fool on!
TMFHunzi

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Author: LQueiros Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 852164 of 884973
Subject: Re: Greetings, Fool! Date: 5/11/2011 4:03 PM
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Call me skeptical, but with a photo of Bill Gates on his/her profile, one stock pick of Apple, and a very first post here, in such a simplistic, curt style without a simple hello or intro of self to the board, my doppel-radar is pinging.

Just sayin'

Laura

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Author: Manticorr Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 852673 of 884973
Subject: Re: Greetings, Fool! Date: 5/29/2011 3:00 PM
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don't strain yourself. just pour it through a shirt pocket.

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Author: briangw Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 856280 of 884973
Subject: Re: Greetings, Fool! Date: 10/1/2011 2:34 PM
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Chop sticks are re-usable - no washing ;-) A once over with a soapy sponge or dish towel and a good rinse.

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Author: TeraGram Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 856281 of 884973
Subject: Re: Greetings, Fool! Date: 10/1/2011 2:56 PM
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Chop sticks are re-usable - no washing ;-) A once over with a soapy sponge or dish towel and a good rinse.

Seriously?

Far as I recall, "once over with a soapy sponge or dish towel and a good rinse" is called "washing".

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Author: spl241 Big gold star, 5000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 856283 of 884973
Subject: Re: Greetings, Fool! Date: 10/1/2011 7:55 PM
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briangw's very first post on TMF was:

Chop sticks are re-usable - no washing ;-) A once over with a soapy sponge or dish towel and a good rinse.

22 minutes later came this reply, undoubtedly making the new person feel warm and toasty inside, convinced he'd found a possible home board:

Seriously? Far as I recall, "once over with a soapy sponge or dish towel and a good rinse" is called "washing".

...hardly an appropriate snarky pushback for someone's first post. Don't you think an inward smile at a humorous mental lapse would have been better? Nice LBYM PR......jeesh...

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Author: cabezas100 Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 856789 of 884973
Subject: Re: Greetings, Fool! Date: 10/23/2011 5:20 PM
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Generally, anything that is good for the environment like cutting down fewer trees to make less paper products, also saves you money. So why not kill two birds with a stone?

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Author: MakingTrax One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 856790 of 884973
Subject: Re: Greetings, Fool! Date: 10/23/2011 9:18 PM
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cabezax100 writes: Generally, anything that is good for the environment like cutting down fewer trees to make less paper products, also saves you money. So why not kill two birds with a stone?

Right. But is killing birds with stones really all that good for the environment? Although, I suppose hurling turtles at birds...or jabbing them with crochet hooks...would be worse.

Just havin' some fun :P

Making Trax

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Author: desertdaveataol Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 856792 of 884973
Subject: Re: Greetings, Fool! Date: 10/23/2011 11:06 PM
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Generally, anything that is good for the environment like cutting down fewer trees to make less paper products, also saves you money. So why not kill two birds with a stone?

Er... trees are a renewable resource that are constantly being cut down and replanted on tree farms just like wheat but on a longer time scale.

And what have you got against birds?

Desert (hope you're not against Christmas trees too) Dave

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Author: sfdint Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 862977 of 884973
Subject: Re: Greetings, Fool! Date: 3/17/2012 9:40 AM
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Frankly, I have never found budgets all that helpful. What works better for me is to decide what your priorities are. Ask yourself these questions:

1. What product or service really contributes to my quality of life?

2. What product or service would be neat but will not really make my life better?

Of course a lot depends on how you answer these questions. To be effective you need to limit and focus your idea about what the good life is. But here's how it works. My wife and I think that travel is definitely a part of #1. So we do quite a bit of traveling. BUT, we find that while travel is definitely a part of the good life, staying in a 4 star hotel is NOT. Sure, I would prefer to stay in a luxury hotel but it wouldn't enhance the overall experience enough to warrant the expense. So we stay in the cheapest reasonably clean lodging we can find.

Or...we would say (we have no other choice) that owning a reasonably reliable, comfortable car is a #1. So we have a choice. Do we buy a 3 year old Ford Focus or a new Mercedes C class? Owning a Mercedes C class would be really cool. It would enhance my ego. If someone were going to give me a car that is what I would want them to get me. But owning that Mercedes is not really going to make my life better...ergo, I buy the 3 year old Ford Focus.

So I am not cheap. I spend money on those things that really make for what I think is a good life. But the things that fall under my #2 category, I just forget about them. With that simple decision making rule we are saving thousands of dollars a year.

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Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 862978 of 884973
Subject: Re: Greetings, Fool! Date: 3/17/2012 11:21 AM
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Generally, anything that is good for the environment like cutting down fewer trees to make less paper products, also saves you money.

Commercial forests are renewable resources. Less paper use eventually will result in not only less trees being cut down, but less forests (trees) because they aren't needed.

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Author: ishtarastarte Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 862980 of 884973
Subject: Re: Greetings, Fool! Date: 3/17/2012 12:09 PM
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While I often suggest one read a few weeks to a few months of posts before posting. . .

I'm not sure going all the way back to 1998 is necessary. . .

Ishtar

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Author: ehkurtz Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 865450 of 884973
Subject: Re: Greetings, Fool! Date: 6/20/2012 5:08 PM
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Living below your means is easy. Don't buy anything you want. Only buy what you need...and only buy it when you actually have the cash available. Don't buy your way into debt.

Ask yourself these questions:
Do I want this or do I need it?
If I need it, can I wait to buy it at a later time?
Can I cover all my monthly expenses and still have cash left over to save or invest?
Do I have enough cash on hand to cover myself in any emergency?

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Author: jrdown Big gold star, 5000 posts 10+ Year Anniversary! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 865451 of 884973
Subject: Re: Greetings, Fool! Date: 6/20/2012 6:28 PM
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ehkurtz ~

Sounds like this works for you and this is very good advice. There really is no magic to getting ahead. A lot of folks just don't like to deny self when it comes to the long-term.


Robyn

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Author: newf57 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 866733 of 884973
Subject: Re: Greetings, Fool! Date: 8/21/2012 12:34 PM
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Have a plan. start by having credit card limits well below your potential for borrowing. decide on a lifestyle that you feel comfortable with and stay within it. for practical purposes who needs a 5000 square ft house once the kids are gone and the dog dies? Also take some tim eto learn the basics of investing so that your savings have a chance at growing . never buy an option once yo do you have lit a fuse. Sell them , sell puts to acquire good quality companies and calls to increase income and ultimately your return

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Author: PSUEngineer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 866734 of 884973
Subject: Re: Greetings, Fool! Date: 8/21/2012 12:40 PM
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start by having credit card limits well below your potential for borrowing

I don't care what my credit card limits are.

PSU

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Author: FiddleDeeDee Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 866736 of 884973
Subject: Re: Greetings, Fool! Date: 8/21/2012 1:05 PM
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Wow. This thread was started in 1998.

What a blast from the past!

Andrea

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Author: Camito Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 867822 of 884973
Subject: Re: Greetings, Fool! Date: 10/6/2012 9:25 AM
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The best way to get out of debt is to never take any debt on... well, that might not be too practical, but the point is, don't take on BAD debt. Also, don't buy things that you don't need.

Where do most people get in trouble?
House, Car, optional accessories.

House: Is buying right for you? A lot of first time home buyers see what their loan will cost but then forget about HOA, taxes, and upkeep. They also forget that some of the things that they may have gotten for free in their rental (e.g., water, pest control) might now be separate. I actually have gone back to renting the house I live in even though I own multiple rentals - the places I invest in have a better rate of return, but the place I live in wouldn't meet my metrics.
BAD DEBT: More house need or than you can afford!

Car: Do you really need that Audi A4 or that Chevy Tahoe? Would a Honda Civic do just as well? If you are only going to use the "truck" part of a truck once or twice a year, you are probably better off renting one for those couple of days instead of buying a vehicle that is too big and driving it all the time. Pricier vehicles often have worst financing options, higher insurance payments, and more maintenance costs.
BAD DEBT: Paying for more car than you need or can afford!

Accessories: Do you need to replace your 42" flat screen that you bought 3 years ago with a new 72" one? Really? Do you need to upgrade all you IKEA furniture to something fancier? Do you really need to go to the Ipad3 when your Ipad2 is just fine. Those purchases start to add up quick.
BAD DEBT: Replacing things that are still in perfect working order!

When it comes to the little stuff like taking lunch to work instead of buying it, or not going to SBUX every morning I like to take a balanced approach. I'll try to avoid those money sinks, but if I'm tired of PB&J sandwiches I'll go out for lunch a time or two/week. Compared to the BIG items above these are minor. The $3500 you save by not buying that TV is more than you'll save by cutting out 230 lunches at $15 a piece.

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Author: Windowseat Big funky green star, 20000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 867826 of 884973
Subject: Re: Greetings, Fool! Date: 10/6/2012 11:28 AM
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When it comes to the little stuff like taking lunch to work instead of buying it, or not going to SBUX every morning I like to take a balanced approach. I'll try to avoid those money sinks, but if I'm tired of PB&J sandwiches I'll go out for lunch a time or two/week.

I often took leftovers or a can of soup. It doesn't always have to be sandwiches.

Agreed, the big ticket items are huge blips, but a lot of people let that ten to fifteen dollars a day slip through their fingers without being aware of how much money they're losing.

There used to be a posted on the boards named TamarianG, and she didn't getting out of debt until she started paying attention to the little expenses she had ignored. That's when she started seeing the waste.

Nancy

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Author: spindlelady Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 868643 of 884973
Subject: Re: Greetings, Fool! Date: 11/9/2012 1:26 PM
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Just a couple of ideas -

No credit cards, use debit card instead. This way you aren't spending what you don't have.

Make a set savings amount the first thing you take out of each pay check.
It isn't that long before you stop missing it.

Save for big purchases instead of paying for them with credit.

Try not to indulge in sudden buying. I always get in trouble when I buy on a whim.

Good luck to us all - saving is a never ending process.

Karen

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Author: amirafiore Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 869564 of 884973
Subject: Re: Greetings, Fool! Date: 12/13/2012 4:06 PM
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Learn the definition between a "want' and a "need".

The necessities of life, words of my college professor: Food, water & Shelter.

Before you purchase anything you should be asking yourself do I want this or do I need this.

You do not need those new pair of snowboarding boots. You do not need to buy the filet mignon at the butcher. You may want to but there is always an alternative. One of which is to not purchase anything at all.

Try mint.com to help track your finances.

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Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 869565 of 884973
Subject: Re: Greetings, Fool! Date: 12/13/2012 4:17 PM
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No credit cards, use debit card instead. This way you aren't spending what you don't have.

Be very careful about using debit cards. Many banks claim they give the same protection as credit cards, but it is not a legal requirement. When disputing transactions, the cash is gone from your account.

I have stopped using debit cards except as an ATM card. We have started to have our debit cards reissued as ATM only (eliminating visa/mastercard cobranding).

Overdrafts can be very expensive with debit cards.

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Author: divedendPete Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 869869 of 884973
Subject: Re: Greetings, Fool! Date: 12/26/2012 10:29 AM
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Listed not in order......switched to compact florescent lights. For lights left on all night...LED.

Installed a solar system, get a small check back at end of year now.

Sold SUV. Now own two hybrids, Prius and a Nissan.

Wood burning stove, collect junk wood. (I have never bought wood)

When we do use the heat it comes on only short bursts...morning and evening..its 35 outside right now and I did use some last night. (hey its xmas...we splurged)

One refrigerator. Energy star.

Seldom use A/C in summer, swamp cooler works great.

I brown bag every day...I forget my lunch I don't eat....my bad!

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Author: TMFHunzi Big red star, 1000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 869870 of 884973
Subject: Re: Greetings, Fool! Date: 12/26/2012 11:09 AM
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Pete,

Welcome to the Motley Fool!

You've found a great board in Living Below Your Means. There are over 800,000 posts on this board! Feel free to browse through the older posts or just jump in to the most current threads.

Sounds like you have LBYM well in hand and have great ideas to contribute!

Fool On!
TMFHunzi

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Author: ybckorea Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 871599 of 884973
Subject: Re: Greetings, Fool! Date: 2/12/2013 12:04 PM
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Good advice only if you find yourself spending in these categories. For someone who has already been living frugally because or income restrictions - not so easy.

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Author: nsbert Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 874484 of 884973
Subject: Re: Greetings, Fool! Date: 5/27/2013 7:00 PM
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I know it may seem odd - but I use Quicken Home Finances for everything - so I have every dime I've ever spent for the last 15 years or so - the categories are great and they always seem to improve the software. I just download bank info and categorize as I see fit (many do it automatically) - so then I can click on "spending" and lets say food and see what I spend monthly, quarterly, yeartly etc for any category -- I also have all my investment in it as well -- I love it!!

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Author: AVilla123 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 875492 of 884973
Subject: Re: Greetings, Fool! Date: 7/20/2013 10:00 AM
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Share your ideas and methods, be it brown bagging or foregoing that third vacation home in Aruba!

Go homeless. I bought a Van and lived in it for a few years while taking college classes and I showered at the gym, I save a lot of money in rent. Presently I now live in an apartment but I have no furniture because I put my money in stocks and I still drive the same van just incase I may need it in the future if things don't work out in the stock market (Plan B).

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Author: AVilla123 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 875494 of 884973
Subject: Re: Greetings, Fool! Date: 7/20/2013 11:03 AM
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Facebook!

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Author: bopshi Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876030 of 884973
Subject: Re: Greetings, Fool! Date: 8/18/2013 5:18 PM
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u have x amount of money coming in u spend less then x amount real simple no rocket science i stock up on things on sale u buy what u need not what u want. just bought new bike after riding 25 dollar one for 15 years u buy 10 year old car drive it fir 10 years ect. dave

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Author: BigKahoona Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876033 of 884973
Subject: Re: Greetings, Fool! Date: 8/18/2013 5:24 PM
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u have x amount of money coming in u spend less then x amount real simple no rocket science i stock up on things on sale u buy what u need not what u want. just bought new bike after riding 25 dollar one for 15 years u buy 10 year old car drive it fir 10 years ect. dave

Your ideas are intriguing to me and I wish to subscribe to your newsletter.

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Author: Windowseat Big funky green star, 20000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876034 of 884973
Subject: Re: Greetings, Fool! Date: 8/18/2013 5:34 PM
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Your ideas are intriguing to me and I wish to subscribe to your newsletter.

You may have to wait until he's finished responding to 876,033 posts. This could take awhile.

Nancy

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Author: PSUEngineer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876035 of 884973
Subject: Re: Greetings, Fool! Date: 8/18/2013 5:41 PM
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Your ideas are intriguing to me and I wish to subscribe to your newsletter.

Did you mean to say "ur ideas r intriguin 2 me n I wish 2 subscribe 2 ur newsletter"?

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Author: BigKahoona Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876036 of 884973
Subject: Re: Greetings, Fool! Date: 8/18/2013 10:52 PM
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Did you mean to say "ur ideas r intriguin 2 me n I wish 2 subscribe 2 ur newsletter"?


I'm sure my new best friend will appreciate the translation.

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Author: Brooklyn1948 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876038 of 884973
Subject: Re: Greetings, Fool! Date: 8/19/2013 6:53 AM
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Did you mean to say "ur ideas r intriguin 2 me n I wish 2 subscribe 2 ur newsletter"?

___________________________________________

You think this is funny? It's crass to say the very least.
This is a new person trying to post to this board and as usual if the "regulars" don't like what you have to say, they bash you and hope that you will leave so that they can get on with their mutual admiration society.
Shame on you.

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Author: BigKahoona Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876039 of 884973
Subject: Re: Greetings, Fool! Date: 8/19/2013 8:53 AM
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This is a new person trying to post to this board

Bless your heart.

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Author: PSUEngineer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876040 of 884973
Subject: Re: Greetings, Fool! Date: 8/19/2013 10:25 AM
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You think this is funny? It's crass to say the very least.
This is a new person trying to post to this board and as usual if the "regulars" don't like what you have to say, they bash you and hope that you will leave so that they can get on with their mutual admiration society.


Yes, I'm happy if it keeps the boards from becoming Twitter.

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Author: LaraAmber Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876041 of 884973
Subject: Re: Greetings, Fool! Date: 8/19/2013 11:59 AM
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You think this is funny? It's crass to say the very least.
This is a new person trying to post to this board and as usual if the "regulars" don't like what you have to say, they bash you and hope that you will leave so that they can get on with their mutual admiration society.
Shame on you.


Normally I would agree. However people who type in twitter/text shorthand should be slammed down. Punctuation, grammar, and proper spelling exist for a reason, so other people have an idea what the heck the other person is trying to say and with what voice (is it sarcastic, is it a sincere question, it is a more general pondering). It's bad enough when people say "you" when they mean "one" and turn a general statement into an accusation by accident.

I can deal with poor spelling or grammar from someone who is obviously trying (English as second language, poor education, etc). This nonsense is more like someone who can't be bothered and gives me a response akin to someone who doesn't aim or flush when using a public toilet.

Lara Amber

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Author: Windowseat Big funky green star, 20000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876042 of 884973
Subject: Re: Greetings, Fool! Date: 8/19/2013 1:01 PM
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This nonsense is more like someone who can't be bothered and gives me a response akin to someone who doesn't aim or flush when using a public toilet.

Either that or it's a 14 year old pretending to be a grown-up.

Tell me, Brooklyn, why do you use standard grammar?

Nancy

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Author: InconclusiveFool Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876057 of 884973
Subject: Re: Greetings, Fool! Date: 8/20/2013 10:24 PM
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"to someone who doesn't aim"

You mean we're supposed to?

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Author: solesister Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876058 of 884973
Subject: Re: Greetings, Fool! Date: 8/21/2013 12:58 AM
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" It's bad enough when people say 'you' when they mean 'one' "

not everybody agrees with you on that one:

http://www.quickanddirtytips.com/education/grammar/one-versu...

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Author: LaraAmber Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876065 of 884973
Subject: Re: Greetings, Fool! Date: 8/21/2013 10:12 AM
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I don't think the one/you has to be done all the time, especially when speaking.

I would highly suggest it for online discussion (when tone of voice isn't there to help) especially when one poster is responding to another poster and is mixing together a response to both a specific poster's actions/writing and a general response to the whole thread or general musings on the topic. It helps make it clear that things being said are not an accusation or directed towards one person and can cut the "but I never said that!" escalation from happening.

Lara Amber

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Author: reader99 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876081 of 884973
Subject: Re: Greetings, Fool! Date: 8/21/2013 11:24 AM
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http://www.quickanddirtytips.com/education/grammar/one-versu......

***


When I was writing my book I used "one" quite a lot. When editing I changed it to "you". "One" sounded too high falutin' for what I was writing.



Reader99

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Author: karenlj Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876093 of 884973
Subject: Re: Greetings, Fool! Date: 8/21/2013 12:51 PM
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http://www.quickanddirtytips.com/education/grammar/one-versu.........

***

When I was writing my book I used "one" quite a lot. When editing I changed it to "you". "One" sounded too high falutin' for what I was writing.

Reader99


Page Not Found

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Author: desertdaveataol Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876096 of 884973
Subject: Re: Greetings, Fool! Date: 8/21/2013 1:14 PM
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When I was writing my book I used "one" quite a lot. When editing I changed it to "you". "One" sounded too high falutin' for what I was writing.

Highfalutin is right! "One" in that usage is waaaaay to pompous and pretentious for most writing. I didn't use it even once in my book:
http://desertdavesteotwawkisurvivalguide.blogspot.com/2011/1...

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Author: PSUEngineer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876097 of 884973
Subject: Re: Greetings, Fool! Date: 8/21/2013 1:16 PM
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Page Not Found

That's because you tried to click on a copied truncated link. The original link is in the following post:

http://boards.fool.com/quot-its-bad-enough-when-people-say-y...

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Author: desertdaveataol Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876098 of 884973
Subject: Re: Greetings, Fool! Date: 8/21/2013 1:19 PM
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When I was writing my book I used "one" quite a lot. When editing I changed it to "you". "One" sounded too high falutin' for what I was writing.

Page Not Found


TMF tends to truncate links with dashes in them so when you get to the "page not found" page you'll have to type in the rest of the link to make it work.

http://www.quickanddirtytips.com/education/grammar/one-versu...

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Author: PSUEngineer Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876099 of 884973
Subject: Re: Greetings, Fool! Date: 8/21/2013 1:21 PM
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TMF tends to truncate links with dashes in them so when you get to the "page not found" page you'll have to type in the rest of the link to make it work.

That would work if you knew what to type in for the rest of the link. It is far easier to find the original posted link and click on that.

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Author: solesister Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876117 of 884973
Subject: Re: Greetings, Fool! Date: 8/21/2013 8:37 PM
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Sometimes "one" works, but mostly it sounds to me like an affectation, as though I'm aspiring to be the Queen of England. I try to think about who really is performing the action in the sentence: not "you," which presumes a false sense of intimacy, not "one" (one of what?), but "the reader" "the taxpayer" "the driver" - whomever I'm writing about

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Author: veron100 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876458 of 884973
Subject: Re: Greetings, Fool! Date: 8/31/2013 2:01 AM
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There are few things as character building as having nothing!

From an early age I learned to separate my wants from my needs. . . then I worked at reducing my list of supposed needs and never got over how little I could live on if I really had to. It's a challenge that has had the welcome result of having more money to invest; which has resulted in having more money to purchase some of the items on my want list!

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Author: desertdaveataol Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876462 of 884973
Subject: Re: Greetings, Fool! Date: 8/31/2013 11:26 AM
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Sorry, you can only recommend a post to the Best of once.

There are few things as character building as having nothing!

From an early age I learned to separate my wants from my needs. . . then I worked at reducing my list of supposed needs and never got over how little I could live on if I really had to. It's a challenge that has had the welcome result of having more money to invest; which has resulted in having more money to purchase some of the items on my want list!


You'll go far. As for your neighbor, well there's that new, "gott'a have it" Justin Bieber t-shirt and while at the mall get a new pair of those shoes whose heels light up when you walk and, and, and...

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Author: KMCFOOL2013 Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 876782 of 884973
Subject: Re: Greetings, Fool! Date: 9/18/2013 8:28 PM
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I can relate! We have made similar choices and have similar priorities.

A few years ago we traveled around the world for a year with our three young children - on a budget.
Priorities:-
Fitting as many countries and experiences as we could
Sticking to our budget
Not getting split as a group
Lesser priorities:-
Five star hotels and comfortable limousines.

How did we do it?
Priorities, Balance/Choices, Flexibility, clear rules & guidelines.
1. Stayed in 3 star hotels that had clean linen and bathrooms, and used those savings to take local tours or experience an unforgettable activity (climbing the Himalayas, snorkeling the Great Barrier Reef, Kenyan Safari). After all, if you are going to be up early in the morning and out all day, what you need most is a clean comfortable bed!
2. Used lastminute.com to make our hotel reservations the day before arriving in a country - and we got some amazing deals as result, like a 1 bedroom suite in Turkey with 3 meals included for USD 49/night.
3. Cut down on hotels by leveraging our vast network of family and friends that we had stayed in touch with over the years, and who spanned covered much of the globe. It was a great opportunity to reconnect.
4. Carefully planned our journey for climate so that we could travel with a minimal number of clothes, layering as needed.
5. Worked with a great travel agent for our flights and incorporated stopovers to visit 16 countries. E.g. NY-Bangkok flight was actually NY-Vancouver-Hong Kong-Bangkok. (ps we stayed with family in Vancouver and at the Y in Hong Kong)

Our kids were 8, 6 and 4 at the time - and what they remember are 'cool' hotels, 'fun' cousins, 'crazy' rides and 'amazing' discoveries. Sometimes, we don't have to spend money to have the richest experiences, and 'sacrifices' don't have to feel painful.

It is doable. You can create a budget/plan to focus on what brings you the most reward in life. It probably helped that though we liked nice things, we valued family and travel more, so had always steered our spare money toward that 'reward' pot.
Today, we like so many others are striving to send our children to decent universities. So for now, that is our 'reward' pot for the tightening of our belt, and continuing the discipline of living below our means.
But never have we regretted the investment of time and spending some of our 'reward' pot on that one year on the road with our three children.

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Author: Duke13z Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 877485 of 884973
Subject: Re: Greetings, Fool! Date: 10/19/2013 9:27 PM
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I Built a trailer for my Bike so I can go Grocery shopping, and not use my car in town.

I NEVER drive my car above 65 mph.(Miles per gallon drop quickly above 65.

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Author: sunrizesurfer Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 880026 of 884973
Subject: Re: Greetings, Fool! Date: 2/13/2014 7:17 PM
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Marry rich. Invest like s fool.

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Author: BigKahoona Big funky green star, 20000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 880027 of 884973
Subject: Re: Greetings, Fool! Date: 2/13/2014 7:21 PM
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Marry rich. Invest like s fool.


You don't need a leg. You need a parrot.

I like this game. Who's next?

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Author: Hibiscusanole Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 880719 of 884973
Subject: Re: Greetings, Fool! Date: 3/10/2014 3:55 PM
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You'd get used to it if you learned Spanish. The verbs are preceded by "se" to get the same meaning. It seems like work to an English speaker because we don't always use "one."

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Author: mudman90039 One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 881100 of 884973
Subject: Re: Greetings, Fool! Date: 3/25/2014 3:46 PM
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I remember mom washing foil and I do too, when it's bad toss, same with plastic bags, I'm a tree hugger. I use sponges for wiping up and sterilize them. I bought a HD TV aerial and will get rid of cable soon. THAT will be a huge savings, I only need PBS and can find others on my internet. I will read more and ignore the horrible commercials and news. I often listen to good music for entertainment, a night with my CDs is really cheap entertainment. Focus on the art, not just background music.

I have T shirts from 20 years ago in Hawaii, had a rain jacket from college days, that is tossed and have another from a sports store. I live in CA so don't need too many warm clothes or hi end for work. I buy things after Xmas on sale. I don't give gifts, my family and friends don't need 'things'.

I do buy quality when it's a major purchase because I think they last longer and I want to hold onto them. My couch is very comfortable and movable cushions so no sink hole in favorite spot, it will last. Economy car was 0% financing and fuel efficient, but wanted the latest in no hands phone calls and safety. With that low payment bought 100,000 mile service contract (car alarm lowered my insurance). In my retirement I'll be seeing a lot of the west, Nat Parks, staying with family and friends, budget motels.

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Author: rickgoto Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 881916 of 884973
Subject: Re: Greetings, Fool! Date: 4/22/2014 8:53 PM
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Greetings,

I have been living the debt free dream and this is how I did it:
-Got divorced from a wife who lived on credit cards, and excess.
-Sold our house of 20 years and managed to make a small profit.
-Used the procedes from the home sales to pay off all credit card debt.
-Found a mexican woman on an international website badoo and moved to her home in TJ. I do pay all food, and utility bills when she asks me.
-Minimize expensive shopping: I get alot of things from the "99 Cent" store, especially doggie snacks (I try to stay away from "Petco".)
-I shop at the mexican swap meets for vegetables which are typically 65% or more off of the supermarkets.
-I work on my own car (Jeep) and don't like expensive dealers.
-Heatlh care: I use the smaller hospitals in Mexico: I had gull bladder operation last year and the doctor had been doing gull bladder surgeries for 23 years. I was quoted $20k for this surgery in the U.S. without complications, and got it done for $3,500 in Mexico (there were complications and the operation went twice as long) were the doctors are just as good, all you need is a good recommendation.

I have fun figuring out how to save money and I like the challenge of figuring out if I can cut corners. My aim is to save money for retirement not spend it all, since I am 57 years old I know I have limited time till retirement but I still do computer contracting to build my nest egg which needs alot of building, so I think of this as catch up.


Note: This is not an easy way to live and not for the faint of heart, but with a good woman I am getting by quite nicely even though I haven't worked for 6 months now. I am trying to find work at this point but I have money put away to get by for a long time to come if I don't find work. I don't say this to brag but I have turned my life around to live frugilly and I have U.S. friends down here in Mexico so I'm not feeling isolated. I have family just over the border and can cross quickly with a Sentri pass so I never feel trapped.

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Author: PolymerMom Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 881919 of 884973
Subject: Re: Greetings, Fool! Date: 4/22/2014 9:23 PM
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I had gull bladder operation last year and the doctor had been doing gull bladder surgeries for 23 years.

That must be some specialized Doc!

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Author: ChurchyLaFemme Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 881920 of 884973
Subject: Re: Greetings, Fool! Date: 4/22/2014 10:11 PM
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What the heck is a gull bladder?


Churchy

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Author: synchronicityII Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 881922 of 884973
Subject: Re: Greetings, Fool! Date: 4/22/2014 10:28 PM
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What the heck is a gull bladder?

Opposite of a boy bladder.

-synchronicity

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Author: Windowseat Big funky green star, 20000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 881926 of 884973
Subject: Re: Greetings, Fool! Date: 4/23/2014 12:31 AM
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What the heck is a gull bladder?

Opposite of a boy bladder.

I thought it was that little sac of air under the wing that makes that squawking sound.

Nancy

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Author: sissylue Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 881929 of 884973
Subject: Re: Greetings, Fool! Date: 4/23/2014 8:49 AM
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Hmmmm. I wonder if I can do a version of this only just across the border in Canada instead of Mexico with the same results.

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Author: ChurchyLaFemme Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 881937 of 884973
Subject: Re: Greetings, Fool! Date: 4/23/2014 4:31 PM
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I thought it was that little sac of air under the wing that makes that squawking sound.


Naw. It's actually a little sack of <censored> that steals food right out of your hand and flies away being chased by other flying sacks of <censored>.

Churchy

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Author: Chloe234 Motley Fool One Everlasting Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 882220 of 884973
Subject: Re: Greetings, Fool! Date: 4/30/2014 11:45 AM
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Great thread.

I am writing a book on this topic in my free time, the gist of which is: "My folks never made much money but they were smart and frugal so they were able to live like millionaires in retirement. Unfortunately they never talked to me about money (and I was a poor observer), so I made lots of mistakes in my life. Looking back, here's what I should have learned from them had I paid better attention, and that I'd like to pass on to my own kids."

My folks did a lot of things differently than people do today. Two of the most important were:

1. Pay cash for everything. If you can't afford it, don't buy it.

2. Learn to live on 80% or less of your take-home income. Invest 10% and set another 10% aside for emergencies.

Because the biggest-ticket items have the greatest impact, let's go there first:

My parents took number 1 to the extreme: they never had a mortgage. When my Dad was still single he bought a crappy two-bedroom, one bath house in an ok neighborhood using cash he saved while serving in the Marine Corps. He bought used furniture and kept the house nice inside and out. When he married my Mom, they remodeled it in the evenings and on weekends using materials bartered from local businesses in exchange for repairing the owners' radios and TVs and other electrical equipment, which Dad learned to do in the Marine Corps, a valuable skill in the 1950s. They used the proceeds from the sale of that first house to build a second, much nicer home in a much nicer location, a process they repeated twice more over the next 40 years. Each time, Dad acted as general contractor and bartered his skills for those of his Seattle Fire Department colleagues, many of whom had second jobs as carpenters, electrician, plumbers, etc. In addition to creating lifelong friendships, this frugal (though time-consuming) no-debt approach enabled my folks ultimately to spend their final years a beautiful custom home on a bluff overlooking Puget Sound.

Could a person do this today? With mortgage rates so low, one can argue that it's not worth tying up one's cash in a home, though Dad only paid for materials, never labor, and often obtained those at a discount, so his price per square foot was a fraction of the value of the home at move-in. In other words, he probably could have sold each home immediately for a substantial profit. But the market at the time made home ownership attractive as an investment in its own right and, in any event, the point was to build places to live, not to sell.

Ok. That got a little long-winded but the point is they never owed anyone for anything. My Dad never even had a credit card until he and my Mom began to travel in their later years and he got a Northwest Airlines card so he could earn miles toward more travel. But he paid it off every month and never paid a dime in interest. Same with cars: 3-5 year old used cars in decent shape that they could drive for 9-10 years. Anyway, you get the point.

Number 2 is even more important, and much easier: invest. Dad never bought a share of stock but still managed to retire with about $400,000 in the bank. We have it so much better today with all the investment knowledge that is available. I showed my son the other day that if he invests just $100 per month in an S&P index fund until age 70 he can retire with nearly a million dollars. Now imagine if every time he gets a pay raise he adds 10% to his investable cash and, oh by the way, takes maximum advantage of tax-advantaged investment accounts. Join The Fool and add just a few percentage points to his return and now we're talking some real money.

This is one area where my wife and I were smart enough to learn from our parents and, at about 3/5 the way to retirement, we are on track.

But we could have done better. We did lots of stupid things that I wish I could take back, and that would allow us to retire earlier, but that at least I've learned going forward.

Bottom line is to make yourself valuable to others (not just in exchange for a paycheck), live well within your means (whatever they may be), invest early and often, and learn as you go.

I hope this was helpful.

Dion

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Author: Judyc Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 883647 of 884973
Subject: Re: Greetings, Fool! Date: 7/8/2014 1:26 PM
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I save for big ticket items, and pay off all credit cards each month. I never pay interest unless buying a home or in the case emergency expenditure like a car. I go right to what I need in a store or shopping mall. No browsing for things I can not afford. I also cook at home and rarely go out to dinner because my husband loves the big ticket foods on the menu. We go out to breakfast for a treat; it is cheaper and takes care of the need to get out.
I have never had a money relationship with my children or grandchildren. They are responsible to make their own money; a sense of personal pride goes with that accomplishment for them.
Most of my husbands co-workers are broke today and we are on easy street enjoying our retirement years.

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Author: vkg Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 883650 of 884973
Subject: Re: Greetings, Fool! Date: 7/8/2014 1:45 PM
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Most of my husbands co-workers are broke today and we are on easy street enjoying our retirement years.

It is interesting to see the difference across companies. Other than an occassional co-worker who is irresponsible with their finances, most are quite responsible. There is only a 401K (no pension plan). Older employee are retiring. Our employer has been unsuccessful in attempting to delay retirements.

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Author: stukawife Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 884621 of 884973
Subject: Re: Greetings, Fool! Date: 9/4/2014 1:40 PM
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I save and reuse zip locks all the time. And I use towels more than paper towels. I have lots of towels so there are always more if the ones currently in the kitchen are yucky.

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