The Thrift Thread

[jchitty]

There seems to be this stereotype that musicians aren't good money managers....that they don't have a head for finance. But most musicians I've known can make a penny squeal for its life because they have to live on a budget if they don't make a big salary from being full time musicians. Or they may have another source of income from a job outside music, but they are always saving for musical projects, demoes, etc.Anyone here care to share your money saving tips? It can be anything from reusing baggies to turning down the thermostat in the winter. I'm a notorious tightwad 'coz I have to be. You can also talk about how it helps the planet, how much money it saved you long term, hehe.I am not above 'curb shopping' (neighbors frequently throw away really nice stuff in my neighborhood) and dumpster diving provided it's easy to get too. I have friends who think I'm totally nuts because of some of my money saving activities.Being thrifty allows me to be creative with what funds I do have, and it's fun.If you also have a money saving story (like a piece of furniture you found and how you fixed it up) that's good too.

[byllsong]

My wife says, "If I go to the shop be buy a hundred dollars worth of stuff, I end up spending the $100.00 and still didn't get everything. But, when I send Billy, he somehow manages to bring about $120.00 worth and still bring change. I don't know how he does it. "The only thing I do is make a list and bring what's on the list. She on the other hand is a marketing person's dream. Always ready to try the next new thing.I have several friends that have about a dozen guitars. They go to Miami and can't say no.I have two guitars, a Music Man Stingray II and an Italian Eko nylon string. Both were bought in '97. I am as faithful to my guitars, as I am to my wife. This leaves more money for her to spend on crap, (I mean stuff she wants.)I will spend top dollar on something I really want. But I don't need a bunch.My 2 centsBilly

[vicky]

Amen sister!!!!!My house is full of envelopes stuck in books.....labels are as follows:7" pressing (yeah some people still press vinyl, white with orange paint splotches vinyl)road rallySlydini recordingEurope (this is saved in Euros so money made in Europe is never switched back to dollars)now...I'll add I've been known to borrow out of envelopes, so now they're hidden from me in my own house (boyfriend did this)...vtbp

[mojobone]

I'm feelin' ya on this, Byll. Chits, yer a gal after my own heart. I believe there is a difference between a $200 guitar and a $2000 guitar, but I also believe that it takes a real musician to tell the difference, and even then, it can mainly be heard best when the instrument is played solo, rather than in the context of a full band mix, where it's often most likely to be heard.It's been my experience that musicians in general are great money managers precisely because we are poor.

[jchitty]

Hey, Billy, Vicky and Mojo....thanks for adding your thoughts and tips to the thread. Mojo, you're right about guitars. I own an Alvarez acoustic that I payed around $229 for. If you offered me the highest priced Martin, I don't believe I could part with my little Alvarez. It sounds great. My guitar teacher suggested that purchase....he said so many people purchase expensive guitars when they take lessons only to leave their guitars in the closet if they end up not playing much. For the price, it's really a good guitar for a beginner. I agree about the poor thing with musicians....the good thing is that we are rich 'coz many of us get to pursue what makes us happy.Here's one of my thrift stories that is not exactly music related, but it's what allows me to have a little bit of extra funds for demo work. (yeah, like I'm money bags, hehe)When my husband and I first got married, we needed a washing machine. Money was tight, so we looked around at the best deal to purchase one. Meanwhile, a friend of ours was getting rid of an olive green washing machine because she didn't like the color and considered it out of style. We didn't know she wanted to part with it, and she threw it on the curb. We asked her if we could have it, and we even offered to buy it, but she insisted we take it for free....she just wanted to get it off her curb. It really didn't matter what color it was to us....the washing machine would be in our basement anyway. The washer ran for years....until one day, the motor gave out. My husband had been hiking in the woods a month before and saw an identical washer all rusted out, but believe it or not, the motor was still worked, LOL. So he removed the motor (he's the fix-it type of guy) and installed it in the olive green washing machine, and it ran for another 5 years until it finally quit for good. After that, we bought a new washing machine, but I still have fond memories of that old olive green one. Also, my first two vacuum cleaners I owned were fished from the curb too....they just needed belts, and people actually threw them away believing they were broken.....the things folks pitch out. This happened not once, but twice of course.

[linziellen]

Hi Wow, I'm amazed at what you find on your curbs, I wouldn't dare pick up the nasty stuff that's lurking on ours! A lot smaller and smellier than olive green washing machines by the way, that would make a sweet lyric Chits I sometimes shop from the bottom shelf! You know, the cheaper stuff that's exactly the same as the brand names, they just keep them on those bottom shelves so you don't notice em! I'm careful with what I buy because I like to know the family are eating well, we always have tons of fruit and veg in the house. (I was a fruit fly in my previous life ), but I don't mind paying less for wrapping we're only going to put in the bin (recycling). Oh and I once read that putting aluminium foil down the backs of radiators will heat up your house that little extra - never tried that - don't buy the expensive foil, hehehe.Actually you've reminded me of a sweet book I have on life in general, there's a few simple money saving tips in there, I'll fish it out later and see if I can't find a few more...Stay tuned.

[jchitty]

Sept 2, 2008, 5:20am, linziellen wrote:Hi Wow, I'm amazed at what you find on your curbs, I wouldn't dare pick up the nasty stuff that's lurking on ours! A lot smaller and smellier than olive green washing machines by the way, that would make a sweet lyric Chits I sometimes shop from the bottom shelf! You know, the cheaper stuff that's exactly the same as the brand names, they just keep them on those bottom shelves so you don't notice em! I'm careful with what I buy because I like to know the family are eating well, we always have tons of fruit and veg in the house. (I was a fruit fly in my previous life ), but I don't mind paying less for wrapping we're only going to put in the bin (recycling). Oh and I once read that putting aluminium foil down the backs of radiators will heat up your house that little extra - never tried that - don't buy the expensive foil, hehehe.Actually you've reminded me of a sweet book I have on life in general, there's a few simple money saving tips in there, I'll fish it out later and see if I can't find a few more...Stay tuned. Stay tuned? Ooh, I love more money saving tips. I buy generics too, Lindz. (the products at the bottom of the shelf). I find they are every bit as good as the brand names. If I do like a brand name better, I will purchase it, but for the most part, generic brands have really improved over the years. We recently got an Aldi store here. I have to say that I'm pretty impressed with their stuff. Their stores look plain and you gotta put a quarter in the shopping cart to unleash it, but I like their chips, bratwurst, canned veggies, produce, chocolates and beer and wine selection. Heck, I got a nice bottle of Pinot Grigio for $4.97 that I served to my neighbors one night....they raved over it. I've had bottles of the more expensive stuff, and you can't tell the diff. I thought it would be awful for that price, but I was really surprised. They have good beer from Holland too...it's much cheaper than Heinekin and it tastes just as good. Not all generic or Aldi products are good, but there are some finds out there.Okay, I guess I'm starting to sound like an old bore, but I love saving money.

[hummingbird]

With people quitting smoking all around me (yeah!!!!) and a very tight budget for going to the Rally, I've taken a good look at how I manage my finances. I live on a budget and I plan my budget towards the end of every month, always have. If I need a piece of software for the songwriting, I figure out the cost and work that into my budget, sometimes it takes a few months before I can get it. I've been watching TV programs on money management for awhile - where a counsellor goes in and looks at the total picture, gives the in-huge-debt person tasks to do, works out a budget, stops them from spending more than they earn, etc. I've also been getting the newsletter "Get Rich Slowly".Last month I made these changes in my finances:- cancelled an on-line songwriting educational account. I'd been maintaining my inactive account at the cost of $4.95 per month US. Even when my account was active, I wasn't spending the time there to warrant having it. I did take some classes, and I think it is a good resource, it's just not for me. Savings: $5.30 per month/$63.60 per year.- cancel Writer's Market account. I signed up a few months ago thinking I would start submitting queries and freelance articles again. I did look at the listing but never made any submissions. Savings: $5.30 per month/$63.60 per year.- switch domain hosting from to Hostbaby. I wasn't that thrilled with my old host anymore, and when I asked Hostbaby about it, they said I could move it over for $10 a month (I already have a domain with them, so I get the second one cheaper, I guess). I was paying $20 a month will the old host. Savings: $10.75 per month/$129 per year.NEXT ACTIONS:- cancel voice mail on my land line. I was going to buy a battery-back-up digital answering machine... then a friend offered to lend me one. Savings: $7.00 per month/$84 per year.- I use "Yak" for long distance, and receive the bill for that as part of my regular land-line bill, for which they charge me a $3.00 "LD Network Access Charge". If I get Yak to send me a separate bill, the telephone co won't be able to charge me the admin fee. Savings: $3.00 per month/$36 per year.TOTAL SAVINGS - $31.35 per month, $376.20 per yearThat should cover the cost of Taxi regular & dispatch memberships, eh?

[cameron]

My personal favorite money saver for those of us who travel is the web site William Shatner advertises (don't think I'm supposed to mention it by name here). I work on the Indy Car race circuit during the summer months, and often I stay at the same hotel as the race teams. Usually they're paying over a $100 per night and I'll often get a room on the same floor for half that or less. I seldom pay more than $50 per night and usually stay at 2.5 star hotels. I laugh when I see the Motel 6 signs advertising a rate that's higher than I'm paying for a real room. A few tips to remember when trying to get your deal:Hotels near airports are usually cheaper, especially during a recession.Hotels in college towns are cheaper whenever school's out.Don't stay anywhere near the event you're attending unless you want to pay top $$.Sometimes you can save big $$ on air fare or car rentals by flying to a nearby airport, i.e. Chicago Midway instead of O'Hare, or Lincoln, Nebraska instead of Des Moines, IA. This is assuming you don't mind driving a few extra miles. Personally, I don't mind because that's when I find it easiest to write songs.Cameron

[jchitty]

Hey, Vikki and Cam.....good tips. That savings of almost 4 hundred dollars, Vikki, is really worth the effort you put forth to cancel services you weren't using. Little things do add up to big savings.Cam, like you, I've learned to rent a hotel room on the outskirts of town for any event I'm attending, especially Nashville. Hotel rooms in the city can be pricey...I usually stay somewhere in Frankin, TN.