Let's All Become Millionaires Motivation Thread

@shoptastic wrote:

What foods do you buy that are cheap, healthy, and filling?

Looking for more ideas to save. smiling smiley

We have been watching weight pretty systematically for several years. The net effect is that my significant other has lost (and kept off for more than 6 months) a total of 57 pounds and I have lost 42 and am still 'drifting down' at about a pound a month. We do chicken every other day and alternate between beef, pork, pasta and eggs the other days. Tonight's dinner is a baked whole chicken, total cost about $4.75 when you add in the herbs and electricity because it was 89/lb. The side will be a pasta salad with frozen veggies stirred in during the last little bit of pasta boiling time. Including everything the pasta salad cost about $1.50. While at the grocery store today (Aldi's) I got bananas at 27 a pound so there is a banana pudding in our future in addition to bananas on breakfast cereal and for eating out of hand. I got skinless boneless chicken breasts at 1.69/lb that will be sliced for 'chicken steaks' to make things like chicken marsala, chicken parmesan and smothered chicken. Some will be further sliced into strips for stir fry. I also got a half boneless pork loin that will be sliced into moderately thick chops and strips for stir fry. I also got a rack of spare ribs at 1.69/lb and I got 1# packages of 'irregular slice' bacon at 2.39/lb to lard pork loin or chicken or just fry for breakfast or to crumble for a little extra flavor. The fresh veggies that looked good were broccoli and green onions so as usual I picked up a variety of packages of unadorned frozen veggies. My favorite stir frys are done with a $1 package of mixed stir fry veggies, chopped up leftovers and usually some fresh chicken or pork and two packages of ramen noodles (throw away the seasoning pack). I then make up my sauce for the thing and dinner usually runs about $2 to $2.50. Pasta night may be lasagna, spaghetti with italian sausage, frozen tortellini or even just a carbonara. Each of my dinners is designed for 4 because one son is staying with us at the moment and the other frequently drops in. If there are only three, there are leftovers for lunch for someone the next day. The grand finale usually comes on Tuesday or Wednesday night as garbage goes out Wednesday night. It is clear the refrigerator of misc. leftovers and check the freezer for partial packs of stuff that need to get used or pitched. That makes it frittata time! (Eggs today at Aldis were 79 a dozen). There is very little real food that goes into the garbage. It is not unusual for my grocery bill to be $25-30 for week, depending on whether I need to buy a big can of coffee or not.

Edited 1 time(s). Last edit at 07/29/2019 08:27PM by Flash.

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I had been bad and gained 10 pounds, I know it doesn't sound like much, but my foot was numb and other sympton's like being out of breath bothered me, I can't carry weight being small boned. Dr. said lose a few pounds and I have lost 8 pds. My secret is eating protein, fiber, less carbs and keeping track of sugar. I basically eat either Oatmeal and berries for breakfast or a soft boiled egg. I 95% gave up my beloved bread/bagels and evening crackers. I eat my largest meal for a late lunch, huge salad with either or both black beans/chicken, avocado, assorted lettuce,kale,etc.
I will have a turkey burger once a week, and don't eat after 7:00 PM. I may have a piece of fruit as I need fiber,
or a good yogurt, lightest sugar content. I have more energy and am back in my size 8's. I do love meat and have a Filet Mignon from Trader Joe's, yum. Funny thing, I'm not missing sugar or sweets, although I do dream of Ice Creme. Price wise I do grocery shops and Wed. thru Sunday are sales, so a chicken or breasts for under 5.00 last several days. Frozen veggies here are a dollar, and I allow a lactose free Ice creme bar for dessert.
I go to a Latin grocery (on my own) where they often have peaches or plums at 2 pds .for a dollar. I make yogurt shakes with half a frozen banana, flax, turmeric and vit. C and stevia in place of sugar, using Almond milk either regular or chocolate. My stomach problems seem in remission and this is working for me. I will allow a bagel and low fat creme cheese once a week. Have stopped doing all burger places, fries are my enemy. I do chicken/black bean taco's or go get one at fish grill on taco Tuesday......eating out on a job brings salads.
Cutting calories and more exercise, and doing many food shops help.

Live consciously....
@shoptastic wrote:

What foods do you buy that are cheap, healthy, and filling?

Looking for more ideas to save. smiling smiley

If you cook instead of eating out, you should be okay. You will save even more if you avoid foods that are "fun" foods and not nutritionally necessary, like chips and other snack food, anything that's not water to drink. When I shop, I will buy chicken breast, fresh or frozen fruit, fresh vegetables, almonds, unsweetened almond milk, bulk oatmeal, and eggs. If I make chili, I will get ground bison. We are stocked with canned beans, lentils, etc, in the basement.

If my husband wants junk, I will make him whatever he wants, so I have basic staples like flour, sugar, cocoa powder, corn meal, masarepa, chocolate chips, stuff like that. Even the bread at the bakery at the supermarket has thirty ingredients. I will make bread or cookies, whatever he wants.

We are going to a festival in WV this week. I made cuchapa (sp?) chicken today. It's shredded chicken with a variety of peppers, onions, lots of curry powder, cumin, paprika, garlic, salt and pepper. I normally make the cuchapas, which are like corn cakes, but I didn't have time, so I made corn bread.

We are both bodybuilder/fitness types and eat mostly protein and vegetables. Our food bills are not high. I don't even know what to buy when I get these $15 supermarket reimbursement shops. I had two today. Most people are trying to.figure out how to save money. I can't figure out how to spend it. If you don't buy packaged or prepared food, you can save a ton.
@Niner wrote:


If you don't buy packaged or prepared food, you can save a ton.

This is certainly a major key to having grocery prices stay low. I use powdered dishwasher and laundry detergent because the cute little presentations of pods are an outrageously expensive alternative that I have not found do a better job from the samples I have been sent over the years. We don't use k-cups but rather use a $10 Mr Coffee type pot that makes 10 cups of really good coffee at a time from loose grounds.

For us, we seem to stay healthiest and happiest when we have a balanced diet of protein, vegetables/fruits and carbohydrates. As we have aged we have found we want less protein per day and want more fruit. Luckily we have mango and citrus trees so have citrus during the winter and in the summer the mangoes produce heavily. One particularly nice tree is ripening now and in the past two weeks we have been inundated with wonderful mangos with the texture of a ripe peach. I have already frozen down about 40# of 'mango cheeks' that will be used in smoothies, fruit pies, sloppy chutneys etc. during the rest of the year, and the tree has only dropped about a quarter of the fruit crop thus far.

Edited 1 time(s). Last edit at 07/30/2019 05:34AM by Flash.
@Niner wrote:

I don't even know what to buy when I get these $15 supermarket reimbursement shops.

I've actually been in that situation before - especially when I've routed "too many" and am rushed.

I've seen other posters say they create shopping lists and look for coupons before they go. I do that 50% of the time, but sometimes I just choose on the fly. I've sometimes just bought toiletries, b/c I know I'll need them and they don't spoil.

With food, you have a time-frame.

Cucumbers are always great to me. I could just eat them as is. No prep time needed and healthy. I just slice them into circles and dip them or even no dip sometimes.

Edited 1 time(s). Last edit at 07/30/2019 03:43AM by shoptastic.
I lightly salt the cucumber slices or use Costco salt-free seasoning.

First $15:
Bananas (for husband), unsweetened almond breeze, a vidalia onion, about five pounds of boneless skinless chicken breast ($1.99/lb, great price)

Second $15:
Strawberries, more strawberries, frozen tropical fruit mix, frozen strawberry and banana mix, crush sugar-free orange drink mix sleeves for bottled water ($1 each, these are not good for you!)
Tonight I'm making a one pd. chuck roast bought on a job for $4.52, throwing it in the crock pot for 6 hours with a good Italian can of tomato sauce and a handful of lentils and corn...will have Taco's or Tostado salad for the next couple days, filling, delicious and healthy, keeping cost down. I do drink a lot of iced tea all day sweetened with Stevia.

Live consciously....
@Irene_L.A. wrote:

I do drink a lot of iced tea all day sweetened with Stevia.

Irene, how do you sweeten the tea with stevia? I got an electric kettle for Christmas and I use it all the time. I boil the water and pour into a stainless steel pitcher over tea bags. I really like it. It tastes like the tea I used to have at home, much better than canned or bottled tea. Do you use liquid or powdered stevia? How do you know how much to use? Do you put it into the tea in the pitcher while the tea is hot or after it cools off? Or do you sweeten each glass of tea?
rofliwofi....I buy packets of Stevia which come in a box of 50 packets. I buy this at the .99 store for .99. Usually much more expensive in stores like Sprouts and such. I put in two packets for a large glass of iced tea, and also use it for hot tea, put it in after pouring the tea, not as sweet as sugar, but you get used to the taste. I use it in all drinks unsweetened.

Live consciously....


Edited 1 time(s). Last edit at 07/30/2019 05:16PM by Irene_L.A..
I would rather have plain than use Stevia.

A person should always choose a Halloween costume which is in direct contrast to her personality. (Lucy Van Pelt. From 'It's the Great Pumpkin, Charlie Brown'.)
I would rather use Stevia (natural sugar) than be Diabetic from processed sugar.

Live consciously....
I hear that, Irene. I should have said that I prefer plain to all forms of sweetened.

A person should always choose a Halloween costume which is in direct contrast to her personality. (Lucy Van Pelt. From 'It's the Great Pumpkin, Charlie Brown'.)
My Mom drinks it unsweet like you, Shop-et-al. I love my sweet tea. Thanks, Irene, I'll try the stevia in my tea.
@shoptastic wrote:

[www.youtube.com]

This is a famous rant from Dave Ramsey saying that saving $100/month and investing it from age 25 to 65 (or any 40-year span) nets you a little over $1 million.

He thinks almost anyone can do it.

Who wants to try?

His math doesn't add up. $100/month * 40 years = $48,000 put away. Even if you factor in an annual rate of return of 7% you'd still only end up with ~$250,000. 7% is optimistic when you account for inflation.

You would need an annual rate of return of ~12.5% over 40 years to get to $1 million which is most likely a impossible.

Edited 1 time(s). Last edit at 07/31/2019 02:02AM by Jbrz123.
@Jbrz123 wrote:


His math doesn't add up. $100/month * 40 years = $48,000 put away. Even if you factor in an annual rate of return of 7% you'd still only end up with ~$250,000. 7% is optimistic when you account for inflation.

You would need an annual rate of return of ~12.5% over 40 years to get to $1 million which is most likely a impossible.

In reality the bond market is what yields 7% on average over time (yes, hard to believe with today's 2% rates). The stock market yields 10%+ on average over time. Indeed a little more than 11% is needed to make a million in 40 years, but the idea of setting aside a small amount systematically to handle your own future is the point.

There is also needs to be the caveat that this is model works in a tax deferred account (IRA, 401k, 403b) or in a tax exempt account such as a Roth IRA where you are not paying tax on capital gains and dividends as they happen. Employer matching funds can give a 401k or a 403b an extra kick to grow.

IRAs began in 1975 and I was encouraged to put in the 'maximum amount' of $1500 every year. When I was earning $10,000 per year and was a single mom of two kids, finding ways to sequester the money without penalizing my family was a challenge, but it has been well worth it. In 1982 the maximum was raised to $2000 and by now it is $6000 for 2019 with 'catch up' contributions for those over 50 that makes the limit for 2019 $7000. There are tax advantages now for putting money in a standard IRA or in a tax deferred 401k or 403b as funds in these accounts will be taxed when you take the money after retirement. There are tax advantages in the long run for a Roth IRA because you pay income tax on the money you put into the Roth but neither the initial investment nor the growth of that investment will be taxed when you take the money out after retirement.
@Jbrz123 wrote:

His math doesn't add up. $100/month * 40 years = $48,000 put away. Even if you factor in an annual rate of return of 7% you'd still only end up with ~$250,000. 7% is optimistic when you account for inflation.

You would need an annual rate of return of ~12.5% over 40 years to get to $1 million which is most likely a impossible.

In the video, Ramsey assumes an annualized return rate of 12-14%, Jbrz123. He constantly talks about a fund he owns on his show that has annualized 14% for over 75 years.

I do believe that's VERY RARE. Few funds can get that rate and for that long. I think TIME magazine or some major publication did a review of Ramsey's advice and they found that only ONE fund fit that bill. I'll see if I can look up that article if I have the time. Anyone interested can Google it and post here if you have time too. smiling smiley

7% isn't that hard to get. Warren Buffet (whose advice I mentioned in an earlier post) recommends that the average investor (and his wife upon his death) to just buy a broad U.S. market index fund, such as an the S&P 500 index fund. He even gives specific fund recommendations.

A U.S. broad index fund will get you 10% annualized average returns over the long-term. Some years (or many) could be bad and others will be amazing. But, on average, it's gotten 10%.

Using the federal government's compound interest calculator here:

[www.investor.gov]

You would get about $500,000 after 40 years at 10% with $100 monthly investment contributions. You get about $1M after 40 years at 10% if you double Ramsey's recommendation of $100/month to $200/month.

I remember hearing so many times that the difference between a single % of returns over many years can be astronomical. Just 1% over a few decades can be HUGE. This is a perfect example.

10% (using a safe Warren Buffet recommended index fund) vs. 12-14% (using a growth mutual fund type that Ramsey recommends...but which are rare****) is the difference between $500,000 and $1M after 40 years at $100/month!

****Btw, I posted about mutual funds in a separate post earlier in the thread too. Warren Buffet thinks (and it's true) lots of money managers simply aren't good enough to beat the market. It's why when he dies, he wants his wife to buy an S&P 500 index fund, instead of his own Berkshire Hathaway, b/c he won't be around to pick the stocks anymore. winking smiley You wonder what his successors feel, lol. Not the best confidence there. grinning smiley

Edited 4 time(s). Last edit at 07/31/2019 10:05AM by shoptastic.
Summary of Above:

$100/month at 10% return rate over 40 years = about $500,000
$200/month at 10% return rate over 40 years = about $1M
$100/month at 12% return rate over 40 years = about $1M

Edited 1 time(s). Last edit at 07/31/2019 10:07AM by shoptastic.
Buy VTSAX and call it a day. Don't sell and contribute a set amount monthly. If you start in your 20's, it's like $100/month, at 40, it's around $1200/month, to have the same amount of money at 65. If you are really interested in true wealth, you find a need and go into business. And, own real estate and rent properties. A great companion book to Millionaire Next Door is Millionaire Mindset. Read both.

Edited 1 time(s). Last edit at 08/02/2019 01:11PM by Niner.
Read the old stuff... Epictetus and the few wants, and that sort of thing...

A person should always choose a Halloween costume which is in direct contrast to her personality. (Lucy Van Pelt. From 'It's the Great Pumpkin, Charlie Brown'.)
@shoptastic wrote:

What foods do you buy that are cheap, healthy, and filling?

Looking for more ideas to save. smiling smiley

Read the books by Amy Dacyczyn. The Tightwad Gazette. As a single mom, I got some good ideas on being frugal. And I borrowed them from the library. I got good ideas from magazines, they always seem to have frugal ideas. Magazines, I also borrow from the library.

Being frugal can free up some money for investing. Just start monthly contributions no matter how small. The habit is important, the amount can be increased later. The Wealthy Barber and Die Broke are 2 other books I enjoyed.

Now, the biggest boost to my nest egg came from buying a property when prices were low and selling when they were high. But all my monthly contributions added up too.

If you can stand a room mate, that can save a lot of money.

If I had come across Dave Ramsey at a younger age I might have tried harder to earn more money. The rest I mostly learned from my parents.

Dave Ramsey's books are also at the library.
Also the library has Bocce Ball, croquet sets, tennis raquets, cross country skis, snow shoes, etc. to lend out. Join the library. Lots of ideas there.

Edited 1 time(s). Last edit at 08/06/2019 02:07PM by prince.
I'm going to read those posts later...just came in here to say Pizza Hut has Large 3-topping pizzas for $7.99 right now. Dunno about others, but that's a good price to me.
Thank you for reminding me about Dave Ramsey. I haven't listened to him in years, because I lost track of where he was on the radio. He is good at reminding me to pay attention to my money and my spending. My habits are in need of some tweaking these days!
Saving regularly, no matter what the amount is a good practice/habit. You don't need Ramsey or Edelman to advise you to do so.

Edited 2 time(s). Last edit at 08/17/2019 03:35AM by Madetoshop.
Today, I invested in me.

A person should always choose a Halloween costume which is in direct contrast to her personality. (Lucy Van Pelt. From 'It's the Great Pumpkin, Charlie Brown'.)
Today the market recovered a bit from a sell-off due to the inverted yield curve. It was a good day.
Today, I figured out how to increase my automatic investment without working more.

A person should always choose a Halloween costume which is in direct contrast to her personality. (Lucy Van Pelt. From 'It's the Great Pumpkin, Charlie Brown'.)
@Jbrz123 wrote:

His math doesn't add up. $100/month * 40 years = $48,000 put away. Even if you factor in an annual rate of return of 7% you'd still only end up with ~$250,000. 7% is optimistic when you account for inflation.

You would need an annual rate of return of ~12.5% over 40 years to get to $1 million which is most likely a impossible.

I completely agree with you that the math isn't adding up. In regards to the returns though, when accounting for inflation, history has shown that a 7% return IS realistic (refer to the history of the S&P 500 index). This of course, will only occur with CONSISTENT investing, month to month, for the long term. As for Dave Ramsey's math, $100 per week as opposed to $100 per month is more realistic on becoming a millionaire by the time you retire by simply dumping into a no-fee index fund.

Being a Millennial at 29 years old, it aches me seeing my fellow Millennials NOT investing, drowning in student debt, etc. I constantly preach on investing, paying off your debts, etc., but I feel like I'm just screaming at deaf ears, unfortunately.

To be frank, $100 per month to investing ISN'T enough by any mean.... But more as a START. You gotta ramp up to much more than setting aside $100 a month. Personally, I've been dumping 10% of my ~$100k salary to a 401k with a 4.5% match, managing multiple investment properties (aggressively saving up my liquid funds until I see another positive cash flowing property to purchase), purchasing my company's stock taking advantage of the 15% discount and dumping $100 a week into the stock market for long-term investing. And by the time I'm 40, my house will be paid off and hopefully I'd have additional positive cash flowing properties in addition to my investment portfolio so I can just chill.

Shopping the Greater Denver Area, Colorado Springs and in-between in Colorado. 29 year old male and willing to travel! Badged for Denver International Airport.
@Madetoshop wrote:

Saving regularly, no matter what the amount is a good practice/habit. You don't need Ramsey or Edelman to advise you to do so.

It's more than just saving though. Most people don't know HOW to invest their money, which is definitely an issue. But for sure, at least saving regularly is a good start.

Shopping the Greater Denver Area, Colorado Springs and in-between in Colorado. 29 year old male and willing to travel! Badged for Denver International Airport.
@Flash wrote:

Ramsey is correct in that wealth comes from thrift plus investment. Sure, you might invent the next outrageously successful widget or you may have an inheritance or you may win the lottery, but if you haven't learned thrift plus investment you are likely to blow through those funds as well. I personally know a number of millionaires and they have all acquired the bulk of their wealth through 401k and 403b retirement plans that automatically took a small amount from each paycheck and there was some employer match. As they saw their wealth grow, they began other savings and investment vehicles.

Over the last 50 years the stock market has returned a little more than 10% per year on average--this is if you stayed invested through all the upturns and downturns in quality stocks. In the past if you knew nothing of the markets you were encouraged to purchase mutual funds that had a manager handling the investment of your funds, for which a fee was charged usually up front to buy the fund and then a smaller fee annually. These days you can purchase "index funds" (also called ETF) which are buying into a portfolio of stocks that mirrors the index. So you can buy the 'DOW' as stock DIA, the 'Nasdaq' as QQQ and the 'S&P 500' as SPY. Many of the discount brokerage houses are allowing you to purchase these ETFs with no transaction fees. This makes it feasible to make systematic small deposits to a brokerage account and even buy these index funds one share at a time.

Very, very good advice, as usual. Fidelity is by far THE best, no-fee way into jumping to these index funds too efficiently and for those with little knowledge on what to do with investing, by the way. Pick an index fund, stay consistent every month, no questions asked, then watch your money GROW.

Shopping the Greater Denver Area, Colorado Springs and in-between in Colorado. 29 year old male and willing to travel! Badged for Denver International Airport.
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