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Money Matters for Women

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  FORUM:   General Team Discussion Forum
TOPIC:   The Principle of Constant Optimization 


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PEPPERMINT125
PEPPERMINT125's Photo Posts: 1,353
8/29/13 1:59 A

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Reminds me I have to call AT&T and cancel one landline. I still use one landline but have a line in the basement that we used to use when my husband worked at home. So easy to forget these things.

Patty
EST Grand Rapids Michigan (yes same time zone as Maine)

If the first thing you do when you wake up in the morning is eat a live frog, then nothing worse can happen for the rest of the day!" Mark Twain

If a man really wants something he will find a way, if he doesn't he will find an excuse." Stephen Dolley, Jr

It is not enough to take steps which may some day lead to a goal; each step must be itself a goal and a step likewise.
Johann Wolfgang von Goethe


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BONNIEBONNEAU
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8/28/13 6:01 A

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yes, a great point !!
I learned this, when I moved into a new home - and both of us, were always busy - so the need for a land line phone, was useless - so we dropped that expense , and just kept our cells as the main way to contact everyone.
it saved 50 a month !!

as your life changes, you have to look at everything .. very true !
ty

www.dixieinparis.com


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PEPPERMINT125
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8/16/13 2:57 A

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I have one heading to college next week also and my auto insurance allows us to take him off while he is away from school (he won't have a car at school).

Patty
EST Grand Rapids Michigan (yes same time zone as Maine)

If the first thing you do when you wake up in the morning is eat a live frog, then nothing worse can happen for the rest of the day!" Mark Twain

If a man really wants something he will find a way, if he doesn't he will find an excuse." Stephen Dolley, Jr

It is not enough to take steps which may some day lead to a goal; each step must be itself a goal and a step likewise.
Johann Wolfgang von Goethe


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DIANAOR1
DIANAOR1's Photo Posts: 397
8/15/13 1:23 P

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A lightbulb just went off in my head! My daughter is off to college in two weeks so that means I can take her off our car insurance. Yay!!!

Diana - NJ

Taking it one step at a time!


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PEPPERMINT125
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7/27/13 7:36 P

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I am beginning to work on this list myself! I need to cancel a phone landline I no longer use (used to have 4 landlines for my home and business but now use mostly cellphone.

This fall when I have time I want to investigate changeing my TV service. I have DirectTv and they charge me $88 per month. I want to see if I can find either satellite or cable cheaper. They keep hiking me up. I looked at old bills and they have been hiking my rates substantially. Has doubled in 5 years.

I want to do the exercise of listing our 10 largest expenses and going over with hubby this fall (after I get past vacation and getting my two college kids off to school).

I also would like to reprice my car insurance and see if I can get better rates. I have not done that in several years.

Great perspective and ideas in this article.

Patty
EST Grand Rapids Michigan (yes same time zone as Maine)

If the first thing you do when you wake up in the morning is eat a live frog, then nothing worse can happen for the rest of the day!" Mark Twain

If a man really wants something he will find a way, if he doesn't he will find an excuse." Stephen Dolley, Jr

It is not enough to take steps which may some day lead to a goal; each step must be itself a goal and a step likewise.
Johann Wolfgang von Goethe


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ICANTODAY
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7/27/13 1:40 P

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Very interesting!


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PEPPERMINT125
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7/3/13 5:44 P

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Here is a very interesting article to think about:

http://www.mrmoneymustache.com/2013/05/15/the-principle-of-constant-optimization/

To summarize the important ideas I got from it:

1.You have to constantly be optimizing your expenses to keep getting the most value. For example, every renewal on insurance or recurring expenses, get comparative quotes and make sure you are paying reasonable amounts. (Of course your relationships with your agents or other service providers are important too, so you have to look at the overall value).

2. Take all of your expenses under the microscope and challenge yourself on why you need this expense.

3. Have your needs changed? Are you still paying for things you no longer need? For example, a sports car that you had to have when you were younger, but now is no longer used since you had a new baby.

4. How can you streamline your expenses to make them more efficient? For example is a prepaid phone plan more efficient for you than a monthly cell phone plan? How many phones are you paying for?

5. No expense is considered sacred.

6. Have new innovations replaced the need for a prior expense but you still pay for the obsolete expense?

7. Do you pay for an item on a monthly basis but rarely use it? For example, a gym membership or other membership?

8. Make a list of your ten biggest expenses and see if there are ways to optimize i.e. reduce some of these expenses.

9. Look at your expenses from an outsider's perspective and figure if you are getting the most value for that expenditure.

10. Don't forget to question the little expenses as they can add up.

Edited by: PEPPERMINT125 at: 7/3/2013 (17:48)
Patty
EST Grand Rapids Michigan (yes same time zone as Maine)

If the first thing you do when you wake up in the morning is eat a live frog, then nothing worse can happen for the rest of the day!" Mark Twain

If a man really wants something he will find a way, if he doesn't he will find an excuse." Stephen Dolley, Jr

It is not enough to take steps which may some day lead to a goal; each step must be itself a goal and a step likewise.
Johann Wolfgang von Goethe


 April Minutes: 349
 
0
337.5
675
1012.5
1350


 
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