tag:blogger.com,1999:blog-37886248.post7113744698190882458..comments2024-03-22T00:35:19.082-07:00Comments on Casual Kitchen: YMOYL Chapter 6: Valuing Your Life Energy By Minimizing SpendingDanielhttp://www.blogger.com/profile/02388302796031288076noreply@blogger.comBlogger13125tag:blogger.com,1999:blog-37886248.post-40018701321047271032014-10-22T10:48:14.827-07:002014-10-22T10:48:14.827-07:00Great comment Juli, thank you. That is some excell...Great comment Juli, thank you. That is some excellent solution-seeking!<br /><br />DKDanielhttps://www.blogger.com/profile/02388302796031288076noreply@blogger.comtag:blogger.com,1999:blog-37886248.post-59525878825609019132014-10-22T09:50:13.020-07:002014-10-22T09:50:13.020-07:00One money-suck area I identified was grocery shopp...One money-suck area I identified was grocery shopping. I'd try to buy clean/organic/healthy stuff, but the supply in the stores isn't always reliable, and the prices of organic produce can be high. Plus, I was also hit by the grocery store impulse buys you mentioned in Side Note #4. I'd stop in for a couple items (weekly or more) and end up leaving with something like $40 of groceries each time. <br /><br />It was one of the biggest areas of spending for me, and although I felt pretty good about the value (I do care a lot about proper nutrition), I wanted to see if there would be a way to better optimize the amount of nutrition I could get for my dollar. So I signed up for a home-delivery from a CSA. Right now, the box comes only once a month (trying it out... will probably switch to a "twice a month for less per box" option). <br /><br />Here's why it turned out to be an awesome decision:<br /><br />* For $33, I got WAY more organic fruit and veggies than I was getting for that price in a store.<br /><br />* I didn't have the same impulse buying opportunities (there are ways to add-on items to your order, but you see your total price go up in real time as you add, unlike in the grocery store, so it discourages impulse buys for me).<br /><br />* It was delivered to my doorstep! No driving to the store, no parking lot madness, no waiting in grocery lines... hallelujah!!<br /><br />* The quality was amazing - even better than my fancy local health store.<br /><br />* It's going to get me eating more in alignment with what's naturally growing locally during each season, which also means I'm supporting local farmers - yay!<br /><br />* It was fun to try out some new stuff I wouldn't necessarily have picked out for myself (although, awesomely, you can log into their website the week before a delivery, and opt-out of items you REALLY don't want, as well as create a list of permanent opt-out items you'll never receive).<br /><br />I had tried this CSA some time ago, but the quality wasn't as good then, and they didn't have the option to customize your items. I had heard that they had improved, but it took YMOYL's purchase tracking to make me take a second look at where my money was going, and look for better options. I'm so glad I noticed the grocery-store pattern and gave the CSA another chance! The quantity, value, and convenience I got is much higher for the dollar than doing my own shopping at the store. And since the internet makes it easy to customize what you get, there's no concern about wasting the food items you simply wouldn't use/buy. :)<br /><br />One other random note, about keeping cars: I've had mine for so long, it never really occurred to me that I'm saving money on my DMV registration each year. I saw the registration fee for someone else's car (a newer car, purchased by loan), and it was over TWICE my fee. Sure, that's only a once-per-year fee.. but it was a difference of about $130... and I can surely find a better use for that money than a DMV registration on a fancy car!! o.O So that was an unexpected realization of yet another (recurring) benefit of adopting frugal habits over the long-term. :)Julinoreply@blogger.comtag:blogger.com,1999:blog-37886248.post-28493607278843541112012-06-26T10:40:55.748-07:002012-06-26T10:40:55.748-07:00I dithered on the collision insurance, too. I fin...I dithered on the collision insurance, too. I finally dropped it, but I'll be so pissed if I lose my sweet banged-up ride that I've had since 2000 (the kids call it the Loser Cruiser). I need a van for just a couple more years, and I've taken good care of its inner parts. Don't want to buy a new car, and don't want some used thing that hasn't been well-maintained.Little Lesnoreply@blogger.comtag:blogger.com,1999:blog-37886248.post-52316940664176991372012-06-26T09:57:02.515-07:002012-06-26T09:57:02.515-07:00Little Les: I'll see what I can do.
Chacha: ...Little Les: I'll see what I can do. <br /><br />Chacha: I get you. I've done my fair share of dithering on that subject too, thinking for *sure* Murphy's law would kick in the minute I hung up with the insurance company. <br /><br />You could always drop coverage on just one of the two cars. Perhaps start with the car you like the least of the two. Then you can use reverse psychology to counteract Murphy's law. :)<br /><br />DKDanielhttps://www.blogger.com/profile/02388302796031288076noreply@blogger.comtag:blogger.com,1999:blog-37886248.post-38394330384502629812012-06-26T09:33:37.436-07:002012-06-26T09:33:37.436-07:00Hi Dan, believe me, we've considered ditching ...Hi Dan, believe me, we've considered ditching the comprehensive and collision. Our cars are 1995 and 1999, paid off for years, and even if they were totaled in an accident we would not get "replacement" value from our insurer.<br /><br />But we would get enough to ensure we didn't have to come up with the ENTIRE cost of a replacement vehicle. And Murphy's Law dictates that the month after we drop the coverage, we get totaled by an uninsured driver. Hence, dithering.chacha1http://www.ombailamos.comnoreply@blogger.comtag:blogger.com,1999:blog-37886248.post-32675136995655400462012-06-26T08:17:14.263-07:002012-06-26T08:17:14.263-07:00This topic would make a very good post! TX has no ...This topic would make a very good post! TX has no state income but makes it up with high property taxes, professional service taxes, high excise taxes, etc. My friends who are doctors are mostly concerned with how much their malpractice insurance will be if they move. Costs can vary within regions or cities as well. In our city its all about how much time you want to spend commuting. Live far out from downtown and enjoy low property taxes rates (no county hospital and other city/county services to pay for), low home costs including insurance, ("more square feet for the dollar!"), etc. Live close in and you pay much more for housing, insurance, property taxes, but you'll sit in traffic instead of coaching your kid's soccer team. These are large-ticket items, worthy of serious consideration in a YMOYL study, no?Little Lesnoreply@blogger.comtag:blogger.com,1999:blog-37886248.post-58167152338037123972012-06-25T11:36:30.034-07:002012-06-25T11:36:30.034-07:00Chacha: One of the suggestions from the book Wealt...Chacha: One of the suggestions from the book Wealth Without Risk (and I'm sure you can find this advice elsewhere) is to ditch collision and comprehensive coverage on your car once it's a few years old. This is one of those "catastrophic" costs that stop being catastrophic once you're out of debt and have saved up lots of easily available cash. <br /><br />DKDanielhttps://www.blogger.com/profile/02388302796031288076noreply@blogger.comtag:blogger.com,1999:blog-37886248.post-37050253081242913012012-06-25T11:31:53.103-07:002012-06-25T11:31:53.103-07:00Little Les:
I'm not sure what the relationshi...Little Les: <br />I'm not sure what the relationship is, and I don't know if it's really causal. I was simply making the case that high cost-of-living regions can hurt you in several ways. I'll outline some examples here just to be clear:<br /><br />1) State income taxes (high cost states like NJ, CA, CT, HI, metro DC, NY etc. can have state tax brackets ranging from 7-12%... on top of your federal taxes).<br /><br />2) Likewise property taxes (expressed in rate terms) are also typically higher in those regions too. <br /><br />3) And as you said, the homes themselves are expensive to begin with so the relatively high property tax rate will be applied to a higher base value. So, the home costs more, your mortgage is more, and your taxes are more. <br /><br />4) Finally, you'll into run other costs too: auto/home insurance costs may be higher in high cost regions, food costs may be higher, entertainment costs will be higher, etc. <br /><br />I'm generalizing, obviously, and you will find exceptions. For example some high cost regions can be in states with no state income tax (e.g. Texas). <br /><br />The point I was making was this: an attractive salary in a high cost region may not be as attractive as it appears. People generally get paid more in salary for working in higher cost of living areas, but quite often that increased wage isn't enough once you figure in all of these obvious and not-so-obvious costs. <br /><br />This would make a good post topic, now that I've basically written it out! :)<br /><br />DKDanielhttps://www.blogger.com/profile/02388302796031288076noreply@blogger.comtag:blogger.com,1999:blog-37886248.post-87763179746860765962012-06-25T10:23:29.747-07:002012-06-25T10:23:29.747-07:00Dan - the comments about cost of living made me cu...Dan - the comments about cost of living made me curious: <br /><br /> "usually income taxes are higher, property taxes and other taxes are higher, insurance costs are higher--and these are all things on top of high housing costs."<br /><br />Why does this occur? Are the percentage rates of property taxes/insurance higher, or is it just that X% of a more expensive house is more $$? What causes this direct relationship between higher housing and higher income taxes?Little Lesnoreply@blogger.comtag:blogger.com,1999:blog-37886248.post-64368531435965856112012-06-25T09:19:46.540-07:002012-06-25T09:19:46.540-07:00I recently had a very annoying skirmish with my se...I recently had a very annoying skirmish with my semi-annual insurance bill (renters and auto). I have hit the upper limit of the deductibles ($1000 for each car and $1000 for all damages except earthquake on the rental policy. They *require* a $12,000 deductible for earthquake damages, mind you - our most likely loss scenario!).<br /><br />Dropping the coverages seems unwise but I haven't (in a quick Internet search) been able to find a carrier who permits higher deductibles. Trivial, but annoying. <br /><br />I should be able to get a $2K - $3K deductible if I want to. If it's available for health insurance plans, why not for auto plans? Sheesh.chacha1http://www.ombailamos.comnoreply@blogger.comtag:blogger.com,1999:blog-37886248.post-89566266503935475552012-06-24T11:20:08.149-07:002012-06-24T11:20:08.149-07:00Ryn, great, great question, and I don't know t...Ryn, great, great question, and I don't know the answer. Perhaps there are some other readers with ideas for you. <br /><br />But your comment touches on how there are so many things that go against you when you live in high cost regions. And it's not only the cost of living: usually income taxes are higher, property taxes and other taxes are higher, insurance costs are higher--and these are all things on top of high housing costs. Usually, even if you get some adjustment in your wage for working a higher-cost region, these other factors often more than cancel it out. <br /><br />Jill: Thanks, I'm really glad you're enjoying it. I've mentioned that we read YMOYL for the first time exactly ten years ago, and I'm finding that a lot of the habits and value of this book "wore off" over time. We're getting more value out of re-reading it than we ever expected.<br /><br />DKDanielhttps://www.blogger.com/profile/02388302796031288076noreply@blogger.comtag:blogger.com,1999:blog-37886248.post-7389895269781095622012-06-24T09:28:31.694-07:002012-06-24T09:28:31.694-07:00Not re-reading YMOYL (read it years ago), but I...Not re-reading YMOYL (read it years ago), but I've been following your posts with interest. Next you might enjoy revisiting the Tightwad Gazette books.Jill_the_Pillnoreply@blogger.comtag:blogger.com,1999:blog-37886248.post-43727661930233238172012-06-24T08:48:33.808-07:002012-06-24T08:48:33.808-07:00This book is completely upending my thinking. I li...This book is completely upending my thinking. I live in an area with a very high cost of living, and spend more to share a townhouse with two other people than it costs to rent a one bedroom townhouse in many other parts of the country. Honestly, I don't get value in proportion to the cost of rent. So now I'm seriously contemplating looking for a job in one of the cheaper cities 3 to 4 hours away from here - even though I hate interviewing and I hate moving! Maybe you have some brilliant ideas for saving money on rent when all of the available housing is expensive?Rynnoreply@blogger.com