Anonymous wrote:
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Get this, we make 7 figure combine HHI and I not only shop at Goodwill, but also the Goodwill OUTLET! And the Salvatjon Army, which on Wednesdays has 25% off everything. I don't mind taking handing me downs clothes or furniture. I definitely play it forward by offering my hand me downs to others for free. How do you think some people stay well off!
There is nothing dirty about thrift stores, how is that different from antiques or vintage clothing? Some people on here sound like label whores (for lack of a better term), like people who walk around with price tags off their clothes. look at me, see how much I spent for my clothes! It's dumb.
This is pretty much us...just under a million dollar HHI. We max out retirements, have 175k in each of our kids' 529s (oldest kid is 6), and my kids wear name brand thrift-shop purchases Daily. I don't skimp on just them...I just try to buy on sale, use coupons when daily possible...like yogurt...one or two per shopping trip, and we save! My kids' clothes are then used by my sisters' kids and then donated to Goodwill or a church where they are shipped to El Salvador. I have a pretty confident feeling that my DD could careless she wore a previously used nice looking Nordestom dress in 2013 when it is 2025 and she starts college with everything paid for or it is 2045 and she doesn't have to support her parents.
I am being very honest here and not snarky at all - I feel like I could learn a lot about money from both of you. Our HHI is much much lower, but we try to buy on sale, use coupons when possible, and I also shop at consignment stores. We also donate back as well. It has taken me a long, long time to learn that if I blow all of our income on brand new items that we will always be perpetually spending and not saving- and never be well off. There have been many, many studies on the mindset and socio norms of those with incomes and net worth of seven figures or greater- and I am trying to learn a lot about money management from those because my own parents were and still are the label whores and spenders. So any advice you could share, I for one would be all ears!
I'm the second poster - the one beginning with "This is pretty much us..". These are little ways I save: a) I look at what is on sale at a grocery store that week and try to make it there. My kids eat a ton of fresh produce and it is very expensive. If grapes are on sale for $.99/lb somewhere, I will go there just for grapes IF it is on my way somewhere else. I wouldn't drive out of my way for grapes. b) I look for ways to save money by looking for coupon codes for things like buying contacts online, rental cars (for those, after I book a rate, I'm looking repeatedly over the internet to shave money off if the deal gets better); c) I never, every buy a new piece of clothing for my kids UNLESS it is for part of a sports uniform, sporting equipment, etc. This includes shoes, socks, underwear, etc. (MANY of those things are hand me downs - but I can't even see spending $10 on a pair of rainboots when I can them for $3 or less. I figure if a pair of kids' shoes new is $40 on average and you add tennis shoes, rain boots, snow boots, sandals, crocs x 2 times per year for size changes, that is $400/year. If I did that for 10 years, that is $4,000 on SHOES for goodness sakes. So instead I buy them for $1-$3/pair, and I buy them ALL the time! I buy the next sizes up and keep them in a box stored. I do the same for kids' hats, socks, clothing, etc. $4,000 in shoes saved over 10 years + $10,000 in clothes saved over 10 years (modest estimate for 2 kids I think) is $14,000 in my pocket that would have taken me $20,000 to earn (after taxes I'd have $14,000 or so). I have bought coupons off of Ebay for things I buy a lot - milk, yogurt, etc. I don't use coupons that often but do use them. I buy a lot of gifts for the upcoming birthday year (not my own kids but for the bday parties they attend) usually in Dec. when there are a ton of sales. I don't spend more than $10/gift but they are usually $20-$30 items. I NEVER buy a birthday gift for a bday party last minute - that alone would be annoying to me and another wasted $10 more than I want so spend. Again, let's say my kids go to 25 birthday parties a year - that's another $250 in savings at least. I buy most of my kids' presents for the holidays throughout the year at thrift shops. I count to make sure pieces are there - and look on amazon at reviews of a product before I buy it. I wrap and then put them away). My kids don't have electronic games (huge money and time zapper). I don't pay for games on the ipad. On the flip side: we travel and spend a great deal on that. We go out to eat when we want - but if I have a coupon, I'll use it. We have several rental properties - which bring in money but also cost money. I think the main idea is that you look at buying things last minute versus planning ahead. picking what is important to you IN THE FUTURE and what you can shave off now.