What Are You Doing To Save Money?

[PEZGolf]

Nothing. I make more money now than before, gas is a third what it was a year ago, mortgage rates haven't been this low in 50 years (I was just quoted 5.3% by Wells Fargo), and I'm about to buy a house.

Instead of buying beer, I work an hour or two at a bar and restaurant called the East End Steakhouse, and get 2 to 3 beers. I save $9 a day, or $63 a week. And I work with nice guys, like Dale, Billy Mac, and Richard the King, who is the owner.

[kafka01]

- When i want holidays i just go around the corner to the golf course instead of abroad (hope its spring soon...).

- I wanted to join the club as full member this year but i decided to postpone until the economic situation gets more stable again and i can be sure that the risk of insolvency is not just around the corner for the club, since nobody can tell how the numbers of members will evolve over the next 2-3 years.

- I already spent a lot less on equipment last year and this year will be no exception unless i get really good deals on stuff i´d like.

[Jay-Bird]

I'm saving all of my Callaway Tour i's for the season. For now, I'm using any random ball of about 1000 that I picked up over the last year.

Today I played 18 with one Nike power soft, and played the best round of my life. wtf?

[PiKapp23]

Frank Thomas, from TheGolfChannel.com (and his own website www.franklygolf.com ) posted this letter regarding the subject of stretching the dollar:

More Distance from Your Dollar

Dear Frankly Friends,

During this downturn in the economy, we need to find ways to save money as cutting back on our golf is not an option -- except for those up north where the weather dictates the extent and the type of outdoor activity at this time of the year. No matter where we live in the States or elsewhere in the World, the winter months will pass and the economy will eventually return to a state of good health, we need to think positively about this.

In the meantime, here are five ways to stretch your dollar when selecting new equipment to enhance your game:

1. If we are in the double-digit handicap range, we don’t need to buy premium balls. There are some very good multi-layered balls produced by the premium manufacturers, which work as well if not better than the premium (expensive) product for our slower-than-tour swing speeds.

2. We need to keep the ball in-bounds and on the short grass more often, making the box of balls we bought last longer. Shorten up on your driver or choke down about an inch on your existing driver. This will remind you not to give a full blast of testosterone to your drive and keep your swing under control.

3. If you are going to buy a new driver -- and certainly if the one in your bag is more than five years old -- buy last year's model. Technology has not changed sufficiently in the last several years to warrant the major difference in the price between last year's model and a new one; both of which promise to hit the ball farther and more accurately. The new ones (many of them) make too much noise anyway.

4. Your irons should be no more than 10 years old, preferably even a little younger. This is where an old friend is hard to replace with a new one, which is not going to perform any better if you are comfortable with what you have. Iron technology is changing for the sake of change and marketing purposes. Changes in irons have made very little difference in performance the last five or more years.

5. Try some hybrids if your long irons persist in giving you the ‘shakes’ every time you need to fill that distance gap between your 5-iron and 5-wood. A hybrid or two will save you money as it will forestall the need to buy a new set because a few clubs in your bag are not behaving.

The best investment you can make is to become better informed about how to select your equipment, understand how it works and how it can help you reach your potential. I have provided this information in both of my books “Just Hit It” and my most recent release “Dear Frank...”. And you'll still have some change to spend on a lesson.

January 14th, 2009, between the hours of 12 noon and 4pm Eastern Time I will be available to answer your phone calls to help you get more distance out your dollar. Just call at 407.396.4004 for a free 5-minute golf equipment consultation.

Please have fun and enjoy your game but don’t spend too much money to do so. It doesn’t pay.

-Frank

[TheLauncher]

The luxury items are of course the first to go. I now roll my own cigarettes, buy cheaper beer and keep the heat down, especially at night. It's both friendlier to the environment and easier on the wallet to don an extra layer.
It was more important when gas was really high, but I also try to carpool when possible and arrange trips out to tackle as many errands as possible. As posted above, cutting back on golf ir not really an option.

Not to get on a soapbox, but I think it's good that everyone keep frugality in mind, not only for our own sakes in this economy, but as population continues to increase and resources continue to become more scarce. We have gone on too long as a culture without much regard for the effects of the largesse in our lives. Seeing a sense of thrift and environmental awareness creep into popular culture in encouraging.

[DavidFehertysBike]

Im not married nor do i have children so the recession hasnt really curbed my usual spending habits as of yet.

[Dub]

Dropping membership to expensive hunting club. Fortunately for me the golf bug has squelched my hunting desire. In addition to the dues...this has saved countless dollars in fuel, gear and etc.

Selling unused toys....like a top notch ATV....taking up space.

Eating out has subsided. We cook more and are eating more healthy. I was in the habit of grabbing fast food on the run way to often....bad, bad habit. It's to easy to make a sandwich or heat up a bowl of soup.

Cut down on some travel.

Membership to golf course and walking when playing is a huge money saver vs. meeting up with the gang at a local course (nonmember) and riding once a week......that adds up quickly.


No impulse buys.....sleep on things for a few days before spending the $$$....if the items pans out and passes the three day test it is more likely to be appreciated and actually needed.

[Fraser]

Seeing a sense of thrift and environmental awareness creep into popular culture in encouraging.

As an investor it isn't....

[Quinn07]

I live up north, so spending money on golfing isn't that big of a problem right now. I too have stopped the impulse buying though. It's amazing how good you feel after you have convinced yourself that you don't absolutely need a golf club and decide to sleep on it. I mean let's be honest, no one REALLY NEEDS a golf club, but we certainly would like it.

I have also started to eat at home more...amazing how much money eating out takes up. I have also started to try to and purchase golf balls now (like a dozen every other pay), so come summer time I won't need to purchase golf balls through the entire summer. Did it last year and I was amazed at how long I could go with out having to actually spend money on new ones as I already had them at home. Makes spending money on other fun summer things easier, oh and saving too. ;)

[TheLauncher]

As an investor it isn't....

I can see your point. I'm no economist, but isn't people spending money that they don't really have part of what got us into this mess? Hopefully sensible spending will help us all out in the long run, rather than lining the pockets of the already well-to-do.

[Fraser]

I can see your point. I'm no economist, but isn't people spending money that they don't really have part of what got us into this mess?

Isn't that assuming that the vast majority of people were and are living beyond their means though?

In my eyes if you are living beyond your means, or are a paycheck to paycheck situation then you need to save money anyway...I saw this thread as a 'what are you doing to stash more cash' type thing.

[Pinseeker81]

Isn't that assuming that the vast majority of people were and are living beyond their means though?

Statistically speaking, they are. Over 70% of US households are living paycheck to paycheck. And the average US savings rate is negative 2.2%.

[PEZGolf]

What are you doing do save money in this economy? fortunately, I have not cut back on my golfing but I have to think twice before buying equipment and thinking longer before any purchases. I wanted to buy another car but I decide to keep mine for another couple of years.

I wished that I owned an electric car and never contributed another penny to OPEC, or Big Oil (especially Exxon), or Russia.

[WilsonWedgeMan]

I'm under 4 yrs til retirement,been saving as much as possible(which came in handy when my $5K furnace needed to be replaced this past summer). we have only 1 car payment, but help our grown kids as needed(you never stop being needed). I grew up with Grandparents who went thru the Depression, and built a house during it. they taught me : be thrifty. from what i see from my friends at work, and some of the responses here, they really don't understand what that means.heres' a hint: for every dime you spend(if possible) have something to show for it weeks later...money is better in your bank account than anyones,tho, so be tighter than bark on a tree.

[Fraser]

heres' a hint: for every dime you spend(if possible) have something to show for it weeks later...

I'll stop buying food right away.

There's nothing wrong with saving money for retirement, putting a little away for a rainy day (In addition to my retirement investments I always have at least 6 months income in easily accessible liquid assets in case I lose my job for example) but to just cut back on spending for the sake of it helps nobody and just perpetuates the problem. If everyone stopped spending then companies make lose money which leads to layoffs which means less people spending money and so forth. It is the responsibility of those who are working and who can afford to spend to prop up this mess. You -> Retailers -> Suppliers -> Their employees...etc.

[ks8829]

live below your means, look at Warren Buffet who still lives in the same home after 50 years.

[WilsonWedgeMan]

I'll stop buying food right away.

couldn't agree more, IF..and here's the trouble... IF it means NOT going into debt. the Gov't wants to loosening up borrowing policies, so people will borrow..meaning, go into debt(further into debt for most..not good). it's never good biz sense to spend what you don't have..nor is it the responsiblity of the individual to fix what corporate has messed up.. they broke, let 'em fix it... maybe then, they'll feel the pain that many at the bottom have felt for years, and get a grip on reality.

unlike your opinion, it's not my job to fix it. its' my job to have/show responsible financial practices to my kids and their kids. if companies are laying off, going out of biz..not my fault. if my kids borrow past their means to repay, just to keep the economic world a spinnin', then I've failed to teach them sound financial practices. so far,it appears as tho I've done well, according to their financial conditions.

[WilsonWedgeMan]

live below your means, look at Warren Buffet who still lives in the same home after 50 years.

bingo....