Remember that old phrase from President Ford? Actually, I think it was the subject of a lot of ridicule, because it seemed so ineffective at the time. And, of course, it is ineffective as a national policy. But there are some practical ideas, as well as a particular frame of mind, that can help us save some money and deal with inflation currently hovering around 6 percent.
For example, billionaire Warren Buffett knows a thing or two about saving (as well as making) money. He famously lives in the house that he bought for $31,500 in 1958, which is now worth around $700,000. Just as famously, he relied on a $20 foldable phone for years before finally giving in and buying an Apple phone in 2020; Coincidentally, around the same time, he also bought a piece of Apple’s stock.
Says Buffett: “I don’t save what’s left after I spend. I spend what’s left after I save.” He also said: “If you buy things you don’t need, you will soon sell things you do need.”
| The library: it’s not just books |
Of course, that’s Buffett, who has a way with money the rest of us don’t. But I saw a good suggestion from a more normal woman on the Internet: she uses your library, she says.
Request a tour of your local library and use all they have to offer. Free books and DVDs. Free access to a computer. Many libraries also offer free classes, book clubs, movie discussion groups, day trips to local museums, and concerts.
A neighbor of mine has been hounding me for a couple of years about switching to a Medical Advantage plan, instead of the traditional Medicare plus supplement plan. You get prescription coverage as well as dental and vision coverage. . . all for a lower price. The only caveat is that you have to stay within your medical network, but that doesn’t seem to bother you at all. Plus, he gets free admission to a local gym and goes there twice a week for a yoga class.
It’s not for everyone, he says. But it’s worth thinking about for the next Medicare open enrollment period in the fall.
Speaking of medical expenses, a friend of ours recently had his knee replaced and he told us about a medical library run by our Parks and Recreation department. The town lends all kinds of medical equipment such as wheelchairs, walkers, crutches, etc., to town residents free of charge. If you’re going to need any equipment, it might be worth checking to see if your city has a similar program.
I know many people who have “cut the cord” and dispensed with their cable plan, in favor of streaming Netflix and Amazon. Seems like a smart thing to do if you’re not the type of fan who watches live sports on network TV. But even that is changing as some streaming services start streaming live sports.
Others have switched to cheaper cell phone service. We have Verizon. It is a good service, without problems. But it is expensive. So we’re starting to explore some alternatives that are offered through AARP. There is another service called Cricket. I don’t know much about it; but i have it in my service list to check.
Shop at thrift stores. My brother-in-law reports that he finds a lot of name-brand clothes in good condition at Goodwill, Salvation Army, and GreenDrop. It takes a bit of rummaging through the shelves, he admits, but he finds some nice things that look like new once he takes them home and puts them in the laundry.
I’m sure you may have some other ideas. But they all seem to boil down to one basic philosophy, as Will Rogers once said: “Too many people spend money they haven’t earned, to buy things they don’t want, to impress people they don’t like.”
One last piece of advice, as tax season is approaching and you may be feeling baffled and frustrated with all the different forms and schedules. Several organizations have volunteers who will do your taxes for free if you make less than a certain amount of money. In my area it’s the Bucks County Opportunity Council. In your area. . . well look in the library, they probably know where to go.
In the meantime, just a word of condolences from the smartest person ever. It was Albert Einstein who said: “The most difficult thing in the world to understand is income tax.”
