I am watching friends, family, neighbors, and strangers struggle in this new economic paradigm... but perhaps only because they are using the wrong guidelines or proverbial road map. The world has changed. It is what it is, and its our job to enjoy it - no matter what. Sometimes it helps to get some ideas from other crazy people.
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23 comments:
There is nothing wrong AT ALL with committing yourself to be a reduced spender -- a cheapskate, if you will. Some people are already doing this by force, others by choice. We DO NOT need HALF the crap that our economy makes available to the spending public, and there are thousands of ways you can challenge yourself to spend less. Also, investing to get that million-dollar retirement pot may be harder, but I doubt it is imposssible. Approach your retirement from both directions -- saving/investing AND spending ...
In addition to picking pennies up of the street :), I cancelled the cable, watch only DVDs, take reduced vacations, allow myself fewer restaurant visits, havent bought new clothes in years, and my 100 year old house still looks 100 year old, inside and outside.
This is also how we will combat peak oil. If the oil supply drops, but the demand for oil drops even faster, there is NO peak oil. Try slicing and dicing your budget. It's fun. :)
Auto repairs, health care/vet bills, and helping out friends and family will always be high cost, but everything else is negotiable. Swallow your pride. :)
I just loved his commonsensical analysis and execution.
Heh
I can't believe it but I find myself actually in agreement with Bur almost completely for once.
I did say almost :) I still think he is over estimating the consumer demand side of oil as being significant. Normal everyday people using less will maybe bring the price of gas down but agriculture use of oil will never decline until the world population does and we are too far along to try or use different methods now without sparking that population decline.
As for the article I noticed right off the problem with his alternative energy costs. Unless I am mistaken and there is new information I haven't seen solar panels, wind etc actually ends up costing the consumer more even at todays prices doesn't it?
Otherwise all good info and something everyone will have to embrace in the near future.
Solar and wind can be highly variable depending on climate and self-installation versus paying for it. I would have thought that Canada would not be the best area for solar. However, self-installation of solar panels and wind generators can save up to half on total costs. The downside is that hooking up your solar system to the power company is a no-no. The Canadian Cheap-O is dealing with this by building his system himself and extending it room by room as he gets more gear.
OK Tweell good points. But doesn't the overall maintenance costs and the oil products needed to make them still make them cost more int he long run?
I honestly don't know since I never explored the non-installation cost option.
PP,
I was looking into to it last yr and it is very expensive, but if you are anything like my family (300) electric bill every month it can definitly pay for itself because of the long term investment. Tweel is right that up to half the cost is installation from my rough figures at the time. My thought was always what if I move and lose all that I did. I think you are right pp that Canada is not the best place to harness this energy though and on a side note i think bur is leaning to the Dark Side with us. ;)
Why don't you write a book about Self sufficient farming instead of nuclear annhilation? It could be a good seller and help alot of people. Do we really need more horror stories than the ones we read about in the newspaper every day?
Dex
Ya I suppose between what you and Tweell mentioned it could be economical. Also I am more than likely missing the point that the guy is not using the watt-age I am talking about either. I need to think outta the box on that since he is also talking about slimming down he means on electric use as well.
I actually am planning on adding some solar panels to my workshop as backup, just didn't get to this year because of more lawyer fees against the dead beat mom :)
From a preparedness standpoint solar panels are a good purchase I was just wondering about the economic side.
That is really commonsensical. It’s not just income but income vs. expenses. As long as you bring in more than you spend you are doing ok. It cuts to one of our biggest problems- a lack of imagination. Why does things have to be thusly? The only issue I have with it is my standard one with the whole issue of retirement; if you want to retire you are in the wrong line of work. Slow down and work less perhaps, but quit and lie around? What the hell kind of life is that? It might make sense to do something for the money for a few years to get established so you can do what you want, but beyond five or six years is nuts. Life is too short to waste supporting bums and if you work too hard that’s all you’re doing; buying trinkets you don’t even have time to enjoy and feeding the leviathan.
Tweel,
One could just install it then pay an electrician to inspect his work and sign off on it. Think of it as paying for an apprenticeship of one job. Happens all the time.
I'm all for cheap living. To get richer by a dollar, you have to earn the dollar plus tax. For every dollar you spend, you have to spend the dollar and the tax too. The best way to 'earn' 10% more is to spend 7% less!
And ego means that we want to demonstrate our wealth (and then some!), mostly so we can attract the ladies! It's not an accident that cheapskates are often lonely cheapskates!
But there is one huge problem for Americans; health care isn't free,as it is in the UK and France (more or less) for example, so one illness for you or in your family and you just don't have the resources to deal with it.
Come to that, one disaster, even a big bill, can wipe you out. Wealth is mostly about protecting yourself from the vagaries of your environment, including this financial one.
In conclusion; Live cheap but be rich too!
Donal:
As Aristotle Onassis famously quiped:
"If it weren't for women, money wouldn't mean a thing."
People are going to live more modestly. I might add that the supply of good looking people will only go up here in America if we lived more modestly... folks are XX Large this side of the Atlantic.
Yeah, us Brits are MUCH better looking!
Donal,
If you don't have a cheap catastrophic coverage in the united states your a fool, that is all. It only cost about 100-130 a month for 1000 dollar deductible. The government takes much more than this in taxes, so what I am saying is no thank you to national health care. By the way this would have been the best way for the government to provide coverage at a basic level, but as you don‘t obviously see it is a form of control. I do this exact thing and pay a local doctor west from me cash for all the small stuff, ear infections, flu’s, etc. I will take our way and when you are a slave to the E.U. tax scheme you will wish you did the same.
Where do you think all this research money comes from Europe, India, China? If the system gets implemented I expect a corresponding drop in new drugs and treatments. The first board created by the bill is trying to limit a cancer drug to women’s breast cancer patients because it is prohibitively expensive. You keep on saying how great Europe care is but I keep reading reports about how terrible it is. They have had this practice for yrs in Europe or restricting experimental drugs, expensive drugs and most important life saving drugs. I am sure different countries obviously have different results. The United states has 310 million people, not 8 million or so of Sweden, 4 million or so in Norway or even 81 million like Germany. We have cities as Big as many of Europe’s country’s. So to compare a relatively rich tiny little country with a major population nation is just stupid in my opinion. Don’t tell me that the life expectancy means anything, because whites in the U.S. live similar ages as whites in Europe, blacks tend to eat higher fat diets that result in more heart attacks, heart disease, diabetes and other weight related issues lowering the average life expectancy. This overeating and high fat diet is taking hold in a lot of the whites middle and lower class now also. We also have more car deaths resulting In a lowering of life expectancy. Plus who the hell can’t get care in the united states now. My wife has a few friends on MiChild which is our states version of the schip program for the states. MY uncle gets his medical coverage through the VA which has better care now that most hospitals. Hospitals HAVE TO ADMIT contrary to what ever some libtard says on tv.
Plus donal we are already broke if you can’t tell and contrary to your view point so is Europe, half the damn continent is on welfare and other social programs, you don’t have kids, so your population centers are dying. No wonder crime is lower, but who will pay for all the BS they promise you. I would rather live in a nation with a slighty growing population that a stagnant and in many nations dying population.
Dextred where do you get this catastrophic insurance for 130 per month? If it existed I would buy it. there isn't any such thing in the US. I am still on a waiting list to get catastrophic insurance for my significant other who has consistently been rejected by insurance companies for pre existing conditions. The only reason there is any hope at all is because Obama has mandated the states to provide insurance to high risk pools of applicants who have been turned down by commercial insurance.
Dex; Seems like 30% of Americans are now 'fools' by your judgement. U.S. healthcare costs TWICE what French healthcare costs, and yours doesn't even cover 30% of the population! 50% of your healthcare spending goes on the last 3 years of rich people, and most of your vaunted drug research goes into that market.
France is Number One in the World for quality and outcomes, and the US is 37th, and your life expectancy is falling faster than any other developed nation; now below Kenya!!
The E.U. has 410 million people, rather bigger than the U.S. and even bankrupt Greece has better healthcare than you guys!
Always a good idea to get a grip of the facts before spouting politically biased bullshit.
Fatkitten,
I can get a decent plan for 250 month for full coverage. I am 30 yrs old run and ride my bike, workout 5 times a week and eat almost perfect, never smoke or drink. I am sure it will be harder as I get older and have more conditions, but I know a lot of trades guys that have conditions that have plans for 250-300 a month. It is not perfect but every pays deductibles and I find paying for the small stuff makes me more responsible. I don’t go swimming much even though I used to do it competively because I get a middle ear infection every time. As for not being able to get it. In Michigan blue cross provides it for almost anyone for a price. Don't forget that nothing is free, you will be paying for it in higher taxes, lower benefits and closing of hospitals and shedding of doctors. Just like any business cost will have to be brought down in order to take the lower payments. Most doctors such as the ones My wife work at will not accept Medicare and Medicaid already except from existing patients.
I don't know what problems your husband has and I have empathy for the situation, but those pools will be broke before 2013-14 from what I read and don‘t expect another payment because they are only temporary. The reason this is no starter to me is because tax payers will be footing the bill for the difference in payouts and revenue. I suggest find a good country doctor and build a good relationship, my guy will see me any time, for a 50$ fee and provides prescription coverage by giving me free samples most of the time. Also don't forget your health is your responsibility and as such do your best to change life style, eating habits and contact with toxic things. I am not preaching at you, just letting you know how approach the situation.
Good luck to you and I will pray for your Husband
Donal,
Every study I find is highly suspicious on the facts, many rate national health care for every one as the most important factors. Thank you for bring no facts, or arguing any of my points.
it is not 30 percent more like 40 million of which 20 million are illegal. So lets do the math. 20divided by 310 is 6.45 percent. You just want to make a invalid point. Once again if you have no income you either get Medicare of Medicaid depending on age, income and disability.
Once again we subsidize your system because we do all the research and development. You are completely mistaken and I suspect you watched to much MSNBC when you were in the states. Or perhaps you socialist bias growing up in Europe.
Why are they bankrupt donal, could it be the outrageous social benefits. France is falling apart along with Italy, Portugal and Britain. Thanks but no thanks. We have are problems but sir you have just as many. By the way how much natural gas does Europe produce, how about oil, how about economic growth. Without Germany you would be a third world continent. I have watched the riots you fools have over their.
Are you saying that all people in Europe have the same health care, or that all are part of the E.U. You only compare one small country or another to a nation of 310 million people.
Don’t forget Donal, Numbers don't lie, but Liars figure.
The total population of the EU has no bearing on the health care debate as I understand it since each member country retains it's own system. Except to show the massive wealth redistribution from wealthy nations to poorer ones which is what really allows nations like Greece to live beyond their means.
Now I maybe a bit dated on my info, but hasn't France went round and round a couple of times on it's Nannycare system with the government really wanting to gut it and the people protesting? I remember some heated debate about it from years past anyway.
As Dex pointed out the higher costs in the US has been the mainstay and the backbone for keeping research (especially drug research) financed.
The upcoming US system is just another example of wealth redistribution, and not even a well thought out one at that, since we will be going into it without any increase in doctors yet adding millions of people to the system. Someone will pay for it and eventually everyone will pay for it in taxes, fines, and fees. One way or another.
Donal:
I pretty much see it the way Dex does... healthcare was just the next power grab.
BTW, the illness that bankrupt people are the illnesses that kill them. Very, very few people come back from these illnesses. People would make very, very different treatment decisions if they and their families were responsible.
Another family that our family was close to over the years and generations back home lost one of their women to cancer. It was incurable. It probably cost $500 k to extend her life 2 months.... SOMEBODY was VERY happy to make that $500k... these "healthcare professionals" are far worse than any churning stock broker ever could be...
Dex, come visit Europe and then, when you go back to your country, you'll realise just how decrepit and out-of-date the good 'ole US of A has become. Don't be just a victim of patriotism and your own marketing spin.
People of my age grew up with rock 'n roll, Hollywood and Americana too, so its hard to watch America slide. But you have to see the truth when its smacks you hard across the head!
Its true that end of life care is way too expensive in the US and people are going to be making tough decisions in the future about refusal of care for loved ones which might extend their lifespan a few years longer. The money just wont be there. Its also true that Americans are going to have to start taking care of their parents and grandparents in their old age rather than warehousing them in nursing homes at the government's expense. The Asians have the right idea with that - from birth they know they are responsible for taking care of their parents in their old age. This has led to other problems in China, as the perception that boys are more likely to take care of parents has led to a population which will soon have 20% more men than women - not a healthy situation at all.But the point remains, in China, the Phillipines, almost all throughout Asia there are no nursing homes and the elderly probably have better care than they do here.
The tricky part of solar/wind is converting to AC and making it part of the grid, so to speak. That equipment is costly to purchase and finicky to install, plus it can injure or kill the installer if not done right. This isn't really off-grid, and the joy of the power company sometimes paying you isn't enough to tempt me into this route.
Alternatively, you can use the solar/water to charge batteries, have a DC/AC converter and a master breaker so you can power your place either from the grid or off-grid. This can be done mostly by yourself with an electrician to do the final connections and bless your setup.
The final method and the one Cheap-O seems to have chosen is the parallel method. The off-grid lights, appliances and such are running through wires that cannot be easily connected to the grid. This allows the use of 12V DC, doing away with the converter (you can always setup a converter for appliances that require AC) and utilizing car/trailer stuff instead. Lighting works well here, LED lights are DC and the most efficient method of lighting we have. A parallel setup does not require an electrician, and allows use of either on or off-grid as needed/wanted/available.
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