@zipporah-sandler
active 6 years, 10 months agoForum Replies Created
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My husband and I are both on social security and it is truly an eye opener. While we COULD live on the amount that we receive if we were frugal, each year it would be tighter and tighter.
I’m following along. Right now I don’t use any apps for saving money and I keep thinking that I should. Off to check out Acorn!
In terms of wriggle room, it depends. Each car manufacturer is different when it comes to new cars. In many cases it’s only a 5% markup from invoice price (high end luxury cars tend to have more of a markup – in the 7% – 10% range). BUT, manufacturers often give incentives and rebates to the dealerships, making their profit higher.
Used cars are a different story as they tend to get marked down the longer they sit on the lot. They need to keep fresh inventory. If a car has been sitting on the lot for a VERY long time, you’ll find that they may even sell it for even money if you hit them at the right time (just so they don’t have to bring it back to the auction).
Wholesale dealerships have a VERY small markup, sometimes only a few hundred dollars over what they paid for it.
I grew up in the automobile business (daughter of a wholesaler), and married a man who fell in love with the business and became an auto buyer. I’ve learned that a $9,000 car gets you to the same place at the same time as a $90,000 car. When I shop for cars, whether it be new or certified used is to look at the warranty.
BTW: I am 67 years old and I have never in my life had a car loan. I’ve always paid cash for my cars. I just tuck away a certain amount each month and figure in the trade value and shop that way.
I need to go on a closet safari soon. I have old dresses that I haven’t worn in years packed in a box. It’s time to take them out, try them on and see what they look like again…then add some great accessories I have lying around.
Thanks for the reminder.
I have not invested in pet insurance either. I asked my veterinarian about it, and he said that when it comes to older dogs with health problems (like mine), that it really doesn’t cover much.
Yes, I think we’ve all done that %-off for a major purchase card, but I find that they are usually store cards that I don’t use after that.
I have never done that, and I LOVE, LOVE, LOVE the idea. I know that some of my “essentials” are not essential at all. Have you tracked how much you actually save each month by doing that?
We did something that actually backfired on us. We invested in an insurance type of product that was supposed to increase over time. We had been promised that there would be over $70,000 by the time my son went to school. Alas, it was just under $25,000 when he cashed it in, barely enough for one year. Now he is dealing with some loans that he shouldn’t have had to get if we had been smarter with that investment.
That’s great to hear Carla. We have the AARP plan which is essentially UnitedHealth and have been very happy that our doctors and hospitals are not limited.
