Saving money

[duketaylor]

We've done a few things in the last few years. I found that some electricity providers actually have different rate schedules that when properly managed can save up to about 40% off electric bills, especially if you're an all-electric household. We used to have winter bills that would top off in a cold month at over $500, now we're never over about $360. We use a demand schedule and I bought a demand controller, which is basically a computer hooked up to your breaker box that regulates usage of the heating element in your dryer, your HVAC heat pumps and your hot water heater. It works like this: the demand controller won't let you use all 4 simultaneously and is prioritized based on your consumption desires.
Here's the model we use: http://www.brayden.com/resprod.html
We have it programmed to our personal comfort level. I tried selling them for an outfit out of Va Beach, but didn't really go after it as hard as I needed to to be successful. Ozzie's familiar with the technology. It has more than paid for itself since we had it installed.
Other things we've done is re-analyze our insurance portfolios; I worked in the business for 12 years and had some cash value in a policy on my daughter which was initially purchased to protect against childhood diabetes. She's 16 now and I just received the check today for a $2000 loan against the policy. We also have some outdated term policies on ourselves which we'll be cancelling once we make sure we're covered either thru work or another carrier. Best place to find very affordable term insurance is thru Banner Life up in Maryland; now that we're within 8 years of being empty-nesters our needs have changed so I'll save up about $100/month in making changes.
Also have a car payment that ends in December and next year our kids can't go to any more daycare so between the two we'll pocket an additional $2000/month which will make things much easier. Right now we're fighting some deficit spending since my wife's former employer went belly-up and her new job was about a $12000 pay cut.
We certainly don't live extravagantly at all. Another area I'm gonna look into is real estate taxes as our has was assessed two years ago and after the economy got hurt I'm still paying for an assessment that's way higher than the actual value of the house.
Having been a financial planner I kinda look at every liitle thing going on, hope some of this might help someone.

[Miles]

Kelly and I gravitate towards Barefoot wine, though it is hard to stay away from our neighborhood mom n pop. The owner is just so damn cool and is always genuinely happy to see us. It's really nice to walk into a locally owned store and have each employee know your name; nice to know where your money is going.

Wait, did I just admit that our local beer and wine store owner knows us on a first name basis?

[DukieInKansas]

Kelly and I gravitate towards Barefoot wine, though it is hard to stay away from our neighborhood mom n pop. The owner is just so damn cool and is always genuinely happy to see us. It's really nice to walk into a locally owned store and have each employee know your name; nice to know where your money is going.

Wait, did I just admit that our local beer and wine store owner knows us on a first name basis?

I'm impressed!

[YmoBeThere]

I'm spending more than before, well sort of. Since moving down here from Boston, I have freed up nearly $500 a month in rent. I'm saving half of it, but I am spending the other half.

[windsor]

I'm a bargain shopper when it comes to clothing...discounts stores and clearance racks are my haunts. I splurge now and then (the dress for my step daughters upcoming wedding...although come to think of it ...it was on sale...but I would have bought it no matter the price ) I can't tell you the last time I paid full price for clothing.
Most of my halloween costume came from the childrens home thrift store...less than $20....
I stock up when Publix has things I use BOGO - just bought 6 boxes of my favorite cereal.
Yesterday I hit up the dollar store for wrapping paper/card/bow for the wedding gift (the price of gift bags/wrapping paper just KILLS me!)
I have my dog food delivered from a local company - high quality human grade food dropped off at my door for about 30% off what I would pay at a pet store....and believe me I go through a LOT of food!! My heartworm/flea meds are ordered from Canada at a fraction of the cost my vet would charge, and about half what PetMeds charges.
I'll hit up Aldi from time to time - and Sam's Club (although you have to know what things cost elsewhere or you can get sucked in and awlays check the expiration dates!!!!)

[colchar]

So with this economy... what are you doing to save money?

I've quit smoking and that will save me money. It has nothing to do with the economy but I'm still saving. I'm buying nicotine replacements right now and will need them for a little while but as soon as I am done with them I will see some real savings.

As for the purpose of this thread - I buy cheaper stuff nit necessarily because of the economy but because I am a grad student and have little other choice. Because of that I can offer a tip for everyone else . . . start buying no name generic products as opposed to brand name ones. I used to hate generic products as I thought they were all awful but, over the last couple of years, they have gotten much better. I now find that I actually prefer some generic products to their brand name equivalents. Buying generic products can really save you some money. The savings may not seem like much at the time but you might notice them over the course of a month. And you will certainly notice them over the course of a year.

[OZZIE4DUKE]

We've done a few things in the last few years. I found that some electricity providers actually have different rate schedules that when properly managed can save up to about 40% off electric bills, especially if you're an all-electric household. We used to have winter bills that would top off in a cold month at over $500, now we're never over about $360. We use a demand schedule and I bought a demand controller, which is basically a computer hooked up to your breaker box that regulates usage of the heating element in your dryer, your HVAC heat pumps and your hot water heater. It works like this: the demand controller won't let you use all 4 simultaneously and is prioritized based on your consumption desires.
Here's the model we use: http://www.brayden.com/resprod.html
We have it programmed to our personal comfort level. I tried selling them for an outfit out of Va Beach, but didn't really go after it as hard as I needed to to be successful. Ozzie's familiar with the technology. It has more than paid for itself since we had it installed.
Other things we've done is re-analyze our insurance portfolios; I worked in the business for 12 years and had some cash value in a policy on my daughter which was initially purchased to protect against childhood diabetes. She's 16 now and I just received the check today for a $2000 loan against the policy. We also have some outdated term policies on ourselves which we'll be cancelling once we make sure we're covered either thru work or another carrier. Best place to find very affordable term insurance is thru Banner Life up in Maryland; now that we're within 8 years of being empty-nesters our needs have changed so I'll save up about $100/month in making changes.
Also have a car payment that ends in December and next year our kids can't go to any more daycare so between the two we'll pocket an additional $2000/month which will make things much easier. Right now we're fighting some deficit spending since my wife's former employer went belly-up and her new job was about a $12000 pay cut.
We certainly don't live extravagantly at all. Another area I'm gonna look into is real estate taxes as our has was assessed two years ago and after the economy got hurt I'm still paying for an assessment that's way higher than the actual value of the house.
Having been a financial planner I kinda look at every liitle thing going on, hope some of this might help someone.

Yup, I sell that system (fully installed and with guaranteed savings) for Progress Energy and Duke Power customers in NC. I also sell the Powerworx e3, which VDB has purchased http://www.continentalpowerworx.com/residential This unit also cleans up the power, provides surge suppression and will help all your electronics last longer (the motors and power supplies run cooler because of the "cleaner" power).