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For those Who do not drive, what is the cheapest way to get around?

Forum: Save Money
For those of you who do not drive, what is the cheapest way for you to get where you are going? That may be work, church, shopping or the library. Is it a taxi, Uber, a private driver or some other day?Read More...
@MsKimberly I knew a teacher, in high school, who was kidnapped by a taxi driver on her way home from a party. You can never be too careful!Read More...
Hmmm, The Mass Transit bus system here in the Baltimore is subsidized at 50%, a waste of taxpayers money, the riders should pay full price for the service, yet they dont. There many criminal incidents on the buses and at bus stops that go unreported, it makes the mass transit system look bad. The taxpayers here pay for the buses and the trains (light rail and subway) to move people. Plus there are free buses-the circulator buses-to help people get around. So in answer to the...Read More...
Last Reply By Miranda Mattson · First Unread Post

Anyone pursuing a F.I.R.E. strategy?

Forum: Retirement
Theodora
The F.I.R.E is on FIRE. https://www.cnbc.com/2019/03/01/more-workers-are-looking-to-retire-early-a-look-inside-the-fire-movement.html Would love to hear from any of you who are pursuing a strategy to retire early. Teach me your ways!Read More...
am a business man based on agriculture products and am suggesting to invest more on cassava production with a new ideas but i need a backup.Read More...
This is a wonderful idea! Way to plot it out! Make sure you’re getting at least a 5% return on your investments to make up for inflation over the years... but other than that- I’d say this is a solid game plan!Read More...
Last Reply By Patrick Chikwendu · First Unread Post
Budgeting isn’t easy. But whether you’re trying to cut spending to save for that new house or you’d like some extra money to put towards your credit card debt, establishing a budget that works for you is essential. Which is why we’ve created the Budgeting Bootcamp experience. The bootcamp is a two-week program that will teach you how to establish a budget from the ground up and then actually stick to it. Every couple of days you’ll receive helpful tips and tricks for creating your own...Read More...
I absolutely agree with Annie B. Then you can begin to get your finances in order. Your husband has dug a very deep hole, but you can dig out slowly. First and foremost, no co-signing for ANYONE once you get back in the black, EVER! Then you can use all the good information on here, like pay yourself first. Start a savings and even if it's only $5 a pay to start, DO IT! As you get things under control, you can raise it. So much good information on here, but you have to either get counseling...Read More...
Unfortunately, I think that you have a marriage problem that is manifesting itself as a financial one. You have a husband who wants to spend what he wants when he wants to, with no regard for your (joint) finances and your feelings and stress level. I would recommend marriage counseling - IF you want to save your marriage. If not, separate your finances and don't give him access or knowledge of anything you are squirreling away. Talk to a lawyer who can advise you of the laws in your state...Read More...
Last Reply By dboothe · First Unread Post

If Money Was No Object, Where Would You Travel and Why?

Moore Income
I am a lover of travel and a huge advocate for people having dreams and seeking to fulfill their dreams. That being said, I am curious to know where my fellow Penny Hoarders would travel if money wasn't something you had to worry about. What would be your dream trip/vacation and why would you choose that specifically? Time to do a little dreaming!Read More...
@Regeniu$ Definitely lots of great places to see and visit in Europe. I have had the pleasure of making a trip to Bulgaria, it was the only European country I have been too but quite beautiful in natural beauty, history and culture. There are quite a few other European countries still on my bucket list.Read More...
REGENIU$, that sounds like a great trip! I know many people who have been to the places you mentioned, and even had an Auschwitz survivor and his wife on my paper route when I was a child. It's always good to learn from people who were there, and that would be a very worthwhile use of monies saved. I look forward to one day hearing more from you, not just on Poland, etc., but also on finances and your goals.Read More...
Last Reply By Moore Income · First Unread Post
Page

New announcement: We've introduced a few new threads!

Briana
First of all, I want to say welcome to all of our new members and to our new announcements thread! This thread (that you're in right now) is for The Penny Hoarder to communicate new announcements, feature releases and more updates about the community. This will help keep you in-the-know on the latest news! We want every single member to get the most out of this new community - find answers to important financial questions, share expertise with all kinds of financial topics, share your...Read More...
Happy penny hoarder communityRead More...
Thanks for the update.Read More...
Last Reply By Karma · First Unread Post

Excel Entire Year Budget Sheet!

Forum: Budgeting
Heather LeGuilloux
Last year I started budgeting for the first time. It was confusing to figure out at first, and also scary to see all those categories and spending limits. But after a few months, it became second nature to write out the budget and go through the statements at the end of the month to make sure these budgets were held in place. When I first started with our budgets last year I found a printable budget that had some static categories (rent, groceries, travel, etc) but this year I wanted to find...Read More...
I created my own excel spreadsheets. I've found to be easy to plan for upcoming expenditures and to see the variation in some bills each month.... like gas and electric.... I have done this for several years and it's been eye opening to see how expenses for utilities have increased over the years.Read More...
@TheSugarFreeLife . I checked out the links and very happy to have those sources. I created my own excel sheets a few years ago, mainly for tracking where my money goes, rather than budgeting. It was an eye opener to see how much we spend on grandkids and junk food! I have not followed up to do anything with these links from Heather, but very grateful to her for providing them.......my other half is retiring this year and we will need to set up a budget, I'm sure. I am a procrastinator!Read More...
Last Reply By Shannon H · First Unread Post

Topics

The Snowball Method for Paying Off Debt

Forum: Debt
Moore Income
I am curious to know if anyone here has used the Snowball Method for paying off debt and what the results were. I personally have done it a little differently (more like the avalanche method), only because certain credit cards I owe on are still under a "no interest" sign up bonus. To me the snowball method seems like a pretty effective way to do it. What are your thoughts? Have you tried any of these methods? What are some helpful tips you have used to pay off debt?Read More...
I'm currently using the snowball method of paying debt off. Lucky for me I have no debts that incur interest or otherwise I would use avalanche method. I have 3 of 8 paid off, by using snowball. What's difficult about paying the debt off is, being on a fixed income and having a crapload of responsibility to endure and then another unexpected expenditure pops up. Also too, trying to work on raising my credit score(eg. Credit Builder Loan or a secured credit card)and budgeting for it. Makes it...Read More...
@TinaS Both of these methods are simply a way to pay your cards off quicker in a strategic manner. Even if that means a little bit at a time. Whatever you can do, by applying one of these methods, the results can be much better. I have done what you are thinking about doing. I transferred my balance from one card that was going to start charging interest to a card with a no interest sign up bonus. The only things you need to make sure of is that the card you transfer too includes the no...Read More...
Last Reply By Prince_Alarming · First Unread Post

Grocery receipts

Almeater Kennedy
Is anyone familiar with saving grocery receipts to earn points for gift cards ?Read More...
I think I'll try out this Coin Out. I don't like Ibotta; it's too brand-specific as mentioned above.Read More...
I have opted for the Coin Out free app and am happy to say I like it, you won't get rich anytime soon! It is a little more jungle in my pocket today.Looking forward to an Amazon gift card. In the past I have tried Ibotta, found it too restricting-very specific on items that qualify that did not fit our lifestyles. It is probably very good for those who purchase brand name items on a regular basis.Read More...
Last Reply By sthom · First Unread Post

Strange credit card tip

Forum: Credit
Hey, So I was listening to the radio one time when they started talking about a strange credit card tip. Put a condom on it--seriously. The reasoning behind this is that you'll be embarrassed to pull out your credit card due to the rubber and will think very carefully before using it. Hmm, that was unfortunate phrasing... Thought I'd just throw that out there. What's the strangest credit card advice you've ever received?Read More...
Freeze it in a block of ice. I didn't have a microwave then, so I had to thaw it with hot water and that took time.Read More...
Last Reply By KellyFromKeene · First Unread Post

Credit Collections

JessiB
I'm new here but I have a question that maybe someone could possibly help me with. Several years ago I had an unfortunate accident on my job that ended my career due to the injury I was unable to return due to debilitating circumstances. At the time of my loss of employment I was unable to make the loan payments on my vehicle and surrendered it to the credit union that the loan was with. After which the credit union sold the vehicle at auction for less than I owed. It wasnt until 2 years...Read More...
Not sure about this answer, but I do know that often times debts that were forgiven or written off are often "sold" to third party collectors and usually it's several years after the fact. It may be those collectors who are contacting you. If it were me, I would contact the credit union directly and ask to speak to the loan or collections department and ask them the status of the loan. If it shows that way on your credit report, there's a good chance it was taken care of and the third party...Read More...
I wish I had an answer for you but I do not know! I'm hoping that someone else has some experience with this...?Read More...
Last Reply By tg · First Unread Post

How do you distribute your income?

Forum: Budgeting
Hi, My husband and I both work typical full time jobs and I was basically paying the minimum on my loans and credit cards. However, we recently inherited a very large collection of comic books dating all the way back to the 30's and 40's. Right now we are working on moving these books for additional income and so far the amount we're making is so great we've had to claim ourselves as small business owners selling out of our home. My question for everyone is, how should I distribute this...Read More...
To quote Dave Ramsey, “CASH is KING”. I have experienced similar situations myself in trying to payoff debt with a windfall. I personally would give back a percentage whether to your local church or other non profit. Next would be to make sure a that you had a good emergency fund established for the future. Then begin paying off your debt with the snowball system. Start with paying off the smallest debt. Work your way through your debt until it is gone. If you only pay portions of each debt,...Read More...
I would use the balanced approach as well. You mentioned wanting to do some needed home repairs; I would definitely make those repairs as they will add to the value of you house should you ever decide to sell. Save a small amount to "treat" yourself to something you have been wanting but couldn't justify buying.Read More...
Last Reply By dpaul · First Unread Post

How to save when grocery shopping

Forum: Save Money
Brianna Herbert
It’s only my husband and I, but we spend hundreds of dollars each week on groceries. We are both on specific meal plans and prefer to eat clean/organic when possible. After clipping coupons, scouring sales ads and only buying items when there’s a deal we STILL end up spending so much just to feed us for about a week. We just bought a house and have been through multiple unsuccessful fertility treatments so our budget is TIGHT. How can we save more without starving?Read More...
I'm with you! It's just me and my cat and I don't eat out too often so pretty much know how much I spend. I use the zero balance bi-weekly pay budgeting. What works best for me is to actually buy less. I used to stock up but now I budget for each two weeks and use my budgeted amount. It helps with meal planning and not going over. Last night I was (silly) excited when I planned to spend $100 on groceries (only) at Target and my total after my Target card and Target app discounts were...Read More...
Hi, all. I also try to eat clean and organic. It’s just my chihuahua and me in the house, and surprisingly it can get expensive. I keep a running grocery list, see how much money I have leftover after bills and look for coupons/deals. I have tried shopping at Lidl, Aldi, Fresh Market and Trader Joe’s but everything I need is at Whole Foods if I want to save time and make one trip. I buy frozen organic fruits and veggies so they last longer. Or I’ll freeze meat and seafood as well. It...Read More...
Last Reply By Jeanne Featherston · First Unread Post

Closing Credit Card Yes or No

Forum: Credit
Ana24
Hello everyone, I need some expert advice. I was thinking about closing 2 of my credit card one is secured Capital One and the other one is First Premier unsecured. Thinking of closing them after we get our house. I have both of my cards for almost 10 years now. I was wondering what will be the effect towards my credit score if I did close them? Thank you in advance.Read More...
Years ago I had two cards so on paper I had something crazy like $10,000 of available credit. Because I only regularly used one card with a better interest rate, eventually the other company closed my account and my available credit shrunk in half. Keep that in mind should you be considering a loan at some point. You can use one card like every other month to keep it open and keep that available credit.Read More...
Closing cards will affect your score in two ways. It will change your length of credit history. This is an average, so if you have newer cards, then your history length will likely shorten and lower your score. It will also affect your rotating credit ratio. Say you have 5 cards with limits of $1000 each. Your total available credit is $5000. If you're using $500, your ratio is 10%. If you close two of those cards, your ratio is then up to 16%. Credit Karma has a calculator that can help...Read More...
Last Reply By Jeanne Featherston · First Unread Post

Budgeting Apps?

Forum: Budgeting
Katie Gabriele
Can y'all talk to me about EveryDollar vs Mint vs YNAB? We've tried using an Excel spreadsheet and it's just not working for us. We like the idea of our credit/debit card transactions being automatically inputted. We'd prefer a free program, which is why we're leaning towards Mint, but if another program is worth the money spent we're open to it. So what's the favorite around here?Read More...
I wish I had started this 10 years ago! I get paid twice monthly. I have a spreadsheet and prior to each payday fill in everything I plan to spend during that next two weeks-all my regular bills are on autopay and divided pretty evenly which is SUPER helpful. Using the spreadsheet allows me to tweak changes as things come up-it's like a (serious) game to try and end up with zero before the next pay. I do not deprive myself and am getting better at saying, without explanation, "I can't make...Read More...
I love the Budget Mom's Budget by Paycheck method. If you don't want to purchase it online, you can download many of the sheets on Pinterest. I'm using much of the system and its really working for me, although it is time consuming in the beginning getting used to it.Read More...
Last Reply By Jeanne Featherston · First Unread Post
I wrote a breif of my mystery shopping experience a few weeks ago and go such an overwhelming response that I thought I would write another to elaborate a little more and just in case anyone missed the first one. I began mystery shopping back in 2013. I was skeptical and unsure if it was a scam. I started with MarketForce. They offered shops at a local hamburger restaurant and reimbursed up to $13 for food in return for a short and simple survey. I though, what do I have to lose. I am eating...Read More...
@Valerie Magorrian , Thank you so much for sharing this and your experience! I'm going to check this out. A side thought, do any of the mystery shopper programs have apps?Read More...
I have started doing mystery shopping recently and am really enjoying it. Thanks for sharing your experience.Read More...
Last Reply By Prince_Alarming · First Unread Post

Travel

Anthony Thomas
For those interested in traveling you should try Next Vacay! They provide a service of finding the most inexpensive flights to some of the worlds most desirable places. Be prepared though to sign up for an annual membership. The cost for it is $25 per year. Recently someone found a flight from Charlotte to Spain for $300 round trip. Great deals!Read More...

Credit Card Limits

Sherian
I recently acquired a Chase Freedom credit card with a 1500 limit. When I logged on to make a payment which I do every week; I noticed the bank upped my spending limit to 2500. Is this normal? Can the banks increase or decrease the limit without notifying the card holder?Read More...
Hi Sherian, Yes, banks can do that-raise or lower-your credit card limit, but as previously stated, they usually send you notice of it to document the event. If they call to let you know, most people screen their calls and won't answer figuring it is anothe rcredit card account scammer. Congratulations, in a way, it could be a gimick to get you to spend more and only you can decide if you want that option. Best to you.Read More...
Yes. Some do a congratulatory email or letter, but its not something they let you know in a formal notification to you.Read More...
Last Reply By redcatcec · First Unread Post

What happens to my FSA if I leave a job?

Forum: Insurance
Hey everyone, I need some advice, I left my job for a promotion at another company. I have never switched jobs before so those 2 weeks flew by and I didn't really know what I was doing. My final day at my previous employer was 7-24-19. I recieved a letter in the mail today that I was no longer eligible to use my FSA. Is that money that I literally just lose, any suggestions on what I can possibly do to utilize that money at this point? I hadn't realized the FSA was different than my HSA...Read More...
Flex savings accounts are use or lose. I believe I had until the end of the month in which I left to use my balance. So you may want to contact your former HR department or log into your account online to see if you still have access to the money and until when.Read More...
Yes, if you don't use them you will end up losing the money in there. You can use the money towards the medical items. You can also go to FSAstore.com. They also have the Eligibility List. It's the Information of the list of items you can buy with your FSA money. Hope this helps you out.Read More...
Last Reply By Beckles · First Unread Post

How effective is Credit Shield 360?

Forum: Credit
Brodie Leap
My wife has been working very hard at boosting her credit and pays everything on time, uses her credit cards responsibly, and usually only for revenue producing items for her business. Irresponsibility of an ex-husband still lingers on a credit report like an anchor and it seems like her score will not budge. Question: How effective is credit shield for $9.48 a month? Should we just suck it up and go with one of the $79+ per month companies? Thanks in advance!Read More...
We actually wrote a story about a woman who had a lot of success with Credit Shield 360: https://www.thepennyhoarder.co...llection-shield-360/ But I'm also curious to see if any of our members have had their own experiences!Read More...
Last Reply By Briana · First Unread Post

Is there a particular budgeting booklet

Forum: Budgeting
I was looking for a guide or instruction sheetRead More...
Yes, I don't know of a one size fits all way to budget. As people have stated, try a google search, and if you are looking for particular features, include that in the search. if you don't know what you want, just start scrolling through them. I have a basic one that i use; if you are interested let me know and I'll send it to you.Read More...
Just google templets in excel I am assuming thanksRead More...
Last Reply By KellyFromKeene · First Unread Post

Supporting community growth!

Briana
In order to continue to support our wonderful community and its growth, we wanted to give a heads up that we are now testing an ad-supported model. The reason we're testing this is to be able to invest more in the community by adding more features and providing even more ways for you all to connect with one another. Your experiences are a top priority and will continue to be. As we continue to enhance the community, we will keep the lines of communication open. We appreciate your loyalty and...Read More...
OK! Thanks for the heads up. I honestly likely would not have noticed, since ads are everywhere...Read More...
Last Reply By KellyFromKeene · First Unread Post

Using Fiona to pay off credit card debt

Forum: Credit
Will using this hurt my credit score. Credit cards will be paid off, however, how do the credit companies look at this? Thanks for any input.Read More...
Using a debt consolidation company has it's pluses and minuses. Usually debt consolidation companies pay your debt and charge you interest. The debt paid off is great. The interest in the long run will basically cost you more than the debts themselves. I personally don't care for them myself. I'd rather pay the debts off by either snowball method(paying debts of the lowest amount, then taking the freed up money of the previous lowest debt and applying it to the next lowest debt)or the other...Read More...
Thank you.Read More...
Last Reply By Prince_Alarming · First Unread Post

Paying off all your debt and not having any open accounts

Forum: Credit
MoneyMartin
I recently just paid off all my debt and have no credit card accounts open. Does this mean my credit score will start anew or start where I left off once I open a new account/get a loan/etc.? Credit score sites currently say N/A regarding my current score with no elaboration which is ambiguous in my opinion. If someone could share their personal experience or their expertise it would be greatly appreciated. Thank you in advance!Read More...
@MoneyMartin , Congrats on being debt free! That is really weird that the credit bureaus report you as N/A. As I understand debts on credit reports, I was told that they can stay on your report for up to 7 years from when they were first reported. Not having any line of credit or a thin credit file isn't a good thing. Lenders will reject you for credit, mortgage loan, a reg loan, etc. As @AnnieB suggested a secured credit card is a good choice. I recommend you research the secured credit...Read More...
I too am debt free. My score now is around 810. We paid off our house a couple years ago. I do use a credit card occasionally for rental cars or plane flights. But I pay everything off every month. If you never use credit again, your score will eventually go to Zero. Dave Ramsey says that's a worthwhile goal. I'm not so sure about that. I'll stay where I'm at.Read More...
Last Reply By Prince_Alarming · First Unread Post

Were you affected by the Equifax Data Breach?

Forum: Credit
Moore Income
I remember hearing about the Equifax data breach, but it wasn't until just today that I checked on this website and found out that I was affected by the breach. I didn't even know, but it does worry me a bit because you wonder if/when they might actually try using my data. Because a settlement was reached recently in this case, I was able to file a claim to receive 10 years of credit monitoring or $125 since my data was part of the compromised data. Has anyone else done this or have...Read More...
Mine info was breached. I chose to file a claim. I won't get much back. I will get 10 years of free credit reporting. I choose to do this because I'm trying to repair my credit because of a fabulous disaster.Read More...
Great info @Adam thanks for sharing!Read More...
Last Reply By Prince_Alarming · First Unread Post

Guide to on-line debt consolidation

Forum: Debt
AHMED.HAMDY
Online debt consolidation programs facilitate people to analysis, apply and participate in debt reduction programs. the buyer will manage the finance of debts at the clicking of a mouse. With the matter of excessive debt growing on these days, on-line debt consolidation programs have become straightforward and helpful. An online debt consolidation program can allow a consumer to get a loan that will combine, or cover, all of the balances of their unsecured debt. This online debt...Read More...
Debt consolidation to me really ain't worth it. For one there's interest plus the debt amount. Why pay interest if your debt isn't charging you interest? Two, debt in collections usually the collection agency will offer you a one time pay off option at a reduced price. Lastly, paying off debt yourself instead of debt consolidation is more rewarding in the fact that you did it and it was less than debt consolidation. And as it is, even if the debt is paid off, it still stays on your credit...Read More...
Are there and debt consolidation companies you would recommend?Read More...
Last Reply By Prince_Alarming · First Unread Post

Debt Reduction Plans?

Forum: Debt
Melissa Campanelli
Anyone have any good or bad experiences here? What are the best ways to go here? Combining debt into a no-interest credit card? Any other thoughts? ThanksRead More...
That's a blessing to get a no interest credit(?) card. I'm on the mend from a fabulous disaster myself. My score is poor and rising. Almost out of poor rating. Some food for thought(for those of us whom are trying to get the heck out of debt). If you have debt I prefer the snowball method of paying debt(paying off the lowest amount(debt) of and work up to the larger amounts. For the benefit of those who don't know). Then there's the other payment method. Can't remember what it's name is but,...Read More...
@Ken I share your same sentiment for debt 😡Read More...
Last Reply By Prince_Alarming · First Unread Post

Credit score stuck

Forum: Credit
Kathryn Stempel
I have been working on my credit score for years but I seem to have peaked at around 740. I know it's a decent score but I would really like to try for excellent! I don't carry more than 30% on my credit cards. I just purchased a home 2 years ago and have made no late payments on anything in years. How can I get my score to go up?Read More...
I don't know your entire situation(like how may cards you have, mortgage, loans, etc.). The suggestions I have are, either get added to one of your husband's cards that has a couple years of being open or apply for another card. The second suggestion is, consider a credit builder loan. A credit builder loan works like this, you agree to pay a certain amount for x amount of months. At the end of the agreement you get the money that you paid into it.(example: you agree to pay $48 a month for...Read More...
Getting added to a card with an already established history would improve your score. Average age could increase and it adds another history of good payments. However, not all companies report authorized users to the bureaus. Opening a new card wouldnt do that and would just decrease your score for awhile.Read More...
Last Reply By Prince_Alarming · First Unread Post
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