Minimalism, Part II

[Governor Megachris%Participant 3584]

I’m posting a separate post on minimalism as this is a continuation of my previous post, but with further questions I have. I just need some good advice, and you guys have been amazing at doing so since I’ve joined this page almost a year ago.

I’ve sold my big obnoxious dresser and table. $110 total! I’ve now been able to restock on groceries and do a little catching up on other necessities.

I’ve only got $65 left to pay off a $1000 loan I got from my bank last November. I was paying $92,50 a month for that thing, all to improve my credit. My credit JUMPED 50 points into the “fair” zone.

I have two other debts to pay off, and I’ll be a little better. My payment for car tires I had to get (a little less than $300 left) and my classes (about half paid, about $400 left). I’m so sick of debts that I don’t think I want to consider credit again…at least for a LONG time. I’d rather just earn something by saving for it.

My car has required over $1,000 in repairs in the past month alone. Tires were $350 total after labor and all, brake booster and master cylinder were $700 after labor. My mother has been helping me with this. Now THIS is where it bothers me the most. I DON’T want her helping me. Not only because I feel bad for asking people to help me, but I want to finally be independent, ya know? I feel like a pathetic child having to run to Mommy for everything.

I dropped all hope of getting a truck (for now) and am considering a moped. I see they’re only several hundred dollars, they’re fantastic on gas, and people are stating that they’re only paying around less than $100 a YEAR for insurance on it…compared to about $80 a MONTH for car insurance. I don’t go to very many places. I’m pretty local. Work is fewer than 10 minutes away.

I went to an apartment complex around the corner from my current one. They have a 400 square foot efficiency for $530 a month, all bills paid…a $255 savings right there. I could look at saving a few hundred a MONTH by getting cheaper transportation and living. I can’t get off my lease until the end of April 2016, but I think it’s best to plan ahead and prepare.

On a side note, I have my bed on hold for someone to sell it in about a week and a half for $50. It’s literally just in the way, especially if I get a futon (I see one in my local ads now for $30 as we speak).

Just THINKING of these ideas puts my mind at ease for some reason. Any other suggestions, or suggestions to the ideas I have?

[HitmanParticipant]

hey mega chris ..you CAN break a lease ..tell the landlord you are moving out in three months ..pay the next two and let him keep security deposit for last.. what’s he gonna do ? go to court for a few months rent ? sweet talk him , like you had a death in the family or something…i did it many times myself..sell whatever you can and get that less expensive place..

[Governor Megachris%Participant 3584]

I DID think about that, but I’d just hate to kill my credit that was already killed by a broken lease from a few years ago (apparently that’s THE biggest ding on my credit score). I know it’s a silly thing to probably fret over, though. That, and I WOULD be paying them the next two payments, like you said. That’s not a half-bad idea. If I get my massive stuff sold in the next couple of months (the stuff I don’t need), then I can practically move everything myself. I’d just have to wait until one of those efficiency apartments is available. Maybe I’ll swing by the apartments again and find out when the next ones will be ready to go.

Staying in MY complex and moving down to the smallest apartment they have (612 sq. ft.) is $725 a month…literally, only saving $720 a year. That $255 difference saves me $3060. That’s quite a difference…

When I talked to my apartment landlord, she told me it wouldn’t do me much good moving into a smaller apartment. That kind of told me what I needed to know. I’ll have to find a cheaper place eventually to be able to start saving.

[HitmanParticipant]

just a thought , with savings like that , sell as much as you can/dont NEED ..try not to miss out on the cheaper place EVEN if you have to begin renting it a month or two BEFORE you are out of where your at now..just to SECURE it as yours….

[Governor Megachris%Participant 3584]

The only things I absolutely need/utilize are any of my media (movies/video games/books/music) and my collection of cool posters I hang on the wall. The heaviest thing I’d have if I sold all I don’t need would be my bookshelf, which is a cheap Wal-Mart one that is rather light anyway.

Since my raise, I went from $700 a check (every two weeks) to $760. That’s STILL not enough to cover rent on one check. At least if I had $530 a month on rent, I’d not have to worry about putting too much aside on my second check of the month.

My best friend that lives next door to me worries it might not be a safe place. Honestly, can’t be any less safe than where he and I are now. The police station is literally 5 minutes away, and I am RIGHT next door to the fire station and hospitals. Decent location, in other words. My bedroom is already almost clear…that’s how easy it is for me to get rid of things lately.

It feels like some new, strange awakening…but it feels great. I’ll admit, selling the table last night was a little sad as it had some memories to it (it was a part of the family for over 10 years and many conversations were made there…but I’ve learned to try not to get sentimental over materials. Emotion has always been my biggest weakness, even to this day admittedly…but I feel like I’m getting better at maturing a bit. I want to improve drastically before I’m 30.

[HitmanParticipant]

you got this brother ! i put EVERYTHING i owned in my car and moved out of my state TWICE ! whatever didn;t fit was sold , given away , returned to the ” trash gods “…..you will feel FREE when you realize it’s only STUFF ! ..you can always get more ..PEOPLE are not replaceable..( except chicks , they get swapped out periodically to preserve freshness )

[Governor Megachris%Participant 3584]

Can anyone confirm that scooter/moped insurance is as cheap as I’m seeing!? I’m going to save SO much money that way if I get one…

[FunInTheSunParticipant 8288]

Your situation is similar to mine. I have a small bank loan that has to be paid off. Also: it took me about 7 years to rise up from the bad credit rating I used to have in the past. What helped me improve my score: getting a secured credit card, making small purchases, then making payments on time. If you can prove that you can make on time payments for a year, you’ll build up a good reputation. I had a flat tire a couple of months ago and I spent about $80 for a new one. Life has all sorts of surprises when you’re broke. I think you’re on the right track, pal. Dave Ramsey and Suze Orman videos (on YouTube) are informative. It’s very easy to make mistakes with your money. If you can learn from your mistakes, you’ll be better off than most people. Best of luck to you, Megachris.

"I saw that there comes a point, in the defeat of any man of virtue, when his own consent is needed for evil to win-and that no manner of injury done to him by others can succeed if he chooses to withhold his consent. I saw that I could put an end to your outrages by pronouncing a single word in my mind. I pronounced it. The word was ‘No.’" (Atlas Shrugged)

[EekParticipant 1162]

Governor Megachris% wrote:

Can anyone confirm that scooter/moped insurance is as cheap as I’m seeing!? I’m going to save SO much money that way if I get one…

I can’t 100% confirm this, but from what I know is that my car insurance for the car itself is only like $100 every 6 months, but the medical coverage and liability coverage adds $300 on top of that. Prices obviously vary by state, age, and driving history.

With a moped/scooter you aren’t likely to do damage to anyone but yourself, and the cost of replacement for the vehicle is minimal. So I could see you paying 25% of your car insurance rate. Especially if you have medical covered by your employer.

[martygParticipant 103]

Governor Megachris% wrote:

Can anyone confirm that scooter/moped insurance is as cheap as I’m seeing!? I’m going to save SO much money that way if I get one…

Depends on your age, zip code and a few other things. In my 50’s, insurance for my Honda Shadow 600 was $120 / year.

Then again, 19 yo, Kaw Ninja 1400, around $1200 per MONTH.

[sidecarParticipant 35862]

Governor Megachris% wrote:

Can anyone confirm that scooter/moped insurance is as cheap as I’m seeing!? I’m going to save SO much money that way if I get one…

The problem there is so much of your insurance depends on who you are and where you live, not just what you ride. However, I just did a throwaway quote with Geico using data chosen pretty much at random that might be similar to your situation:
Vespa Primavera 150 / Male / 25 years old / Victoria, Texas / Riding one year / Single / Has taken motorcycle training course / No tickets / No accidents / No children

The quote it gave me was $ 8.50 a month if you pay for the whole year at once ($ 102) or $ 147 per year if you pay monthly (they want three months minimum in advance to open the policy). The only discount listed was the motorcycle training course, but that was an $11 a month discount so that basically pays for itself in 1 – 2 years.

I’m guessing $ 8.50 a month is probably less than you’re currently paying to insure your car. Your mileage may vary, and you might get a more expensive quote when you run your specific details (like maybe if you’ve had a ticket or accident), but I don’t expect it to be that much more, and certainly not more than your current car insurance.

Oh, and for the record, I’m not endorsing Geico. I personally don’t like the way they do business. But their online quote generator is easy to use.

[Governor Megachris%Participant 3584]

sidecar wrote:

Megachris% wrote:

Can anyone confirm that scooter/moped insurance is as cheap as I’m seeing!? I’m going to save SO much money that way if I get one…

The problem there is so much of your insurance depends on who you are and where you live, not just what you ride. However, I just did a throwaway quote with Geico using data chosen pretty much at random that might be similar to your situation:Vespa Primavera 150 / Male / 25 years old / Victoria, Texas / Riding one year / Single / Has taken motorcycle training course / No tickets / No accidents / No children
The quote it gave me was $ 8.50 a month if you pay for the whole year at once ($ 102) or $ 147 per year if you pay monthly (they want three months minimum in advance to open the policy). The only discount listed was the motorcycle training course, but that was an $11 a month discount so that basically pays for itself in 1 – 2 years.
I’m guessing $ 8.50 a month is probably less than you’re currently paying to insure your car. Your mileage may vary, and you might get a more expensive quote when you run your specific details (like maybe if you’ve had a ticket or accident), but I don’t expect it to be that much more, and certainly not more than your current car insurance.
Oh, and for the record, I’m not endorsing Geico. I personally don’t like the way they do business. But their online quote generator is easy to use.

That’s VERY close to how my set up would be (only 27 years old and in Houston, Texas…but close enough! Shouldn’t make a difference 😛 )
$8.50 a month is literally one tenth of what I’m paying a month on my car. Considering I’m only driving to and from work, and it’s only 4.3 miles to work, that would be a HUGE money saver insurance- and gas-wise. I’m going to start walking to my local food market, since it’s only around the corner from my apartment. They sell everything I need there, and it would support local farmers. It sounds to some people I know like I’m going full-on hippie. Definitely not. Just cutting back on things I don’t need, and making/saving money in the process!

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