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June 09, 2008

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Once again it proves to just ask.

You could probably save the $40 if you bothered to check how to drain your system.Many system can be winterized by shutting off the water to the sprinkler system and then running the system through a cycle which will clear the lines. We all waste a lot of money by not doing a few checks to see if we can do the job ourselves.

FMF: Few general questions (not criticisms). I have been reading your blog for some time off and on. You said you only save 20% of your income. With as much time as you spend finding ways to save money, shouldn't it be more?

Also, you also said you donate a significant amount of money. Why not skip asking for a discount in cases like this and give that "donated" money to someone working for it? Maybe result in less charitable contributions but it rewards hard workers and good work.

Just a couple thoughts/questions.

Todd --

A few things that might add perspective:

1. My income is fairly high, so 20% of a big number is still a big number (and it's far more than I need to live on.)

2. I actually budget giving as an expense and plan to give away a good amount of money each year. It's my largest expense item (yes, larger than taxes), so if I instead saved this amount, my % of savings would be much, much, much higher.

FMF: thanks for the reply.

1. fair enough. I think my income is fairly high too. Even more reason why it seemed that you could save 20% without a ton of work. i.e. bigger salary means you also have more to spend. That's why I like the percentage saving versus a $ amount. 40% saved to me is a challenge.

2. actually even if you budget this, my question is more philosophical. giving to charity versus not asking for discount. i.e. tipping more, paying full price for stuff, etc. Essentially you are paying a laborer less so you can give the money to someone else.

Todd --

I see them as two different things. A charitable contribution helps someone who's needy (sick, poor, etc.) while paying more may or may not help someone who's needy -- it simply may be padding the pockets of someone already doing quite well. I prefer to separate my business transactions from my giving -- save as much as I can on the services nd then give to causes where I know people are needy.

FMF: Makes sense. My thinking is about paying the fisherman versus giving someone fish. I am always skeptical of any donations and how they are used. However, I do understand there are people in need that can't supply for themselves. ie. sick. obviously a different topic. Thanks for the reponses! I enjoy the blog.

It never ceases to amaze me just how much you can save by simply asking for a discount. most of the time that I ask for a discount I get anywhere from 10-20% off the price all for 30 seconds of work. Thats a worthwhile investment of time if you ask me.

This is fairly late (considering FMF updates like 13 times a day), but I wanted to reply to Todd's comment:

I have similar reservations about donations so I've done my research to find a charity I can support. Going by the teaching others to fish idea, I like to support education in third world countries and donate to Acumen Fund, at www.acumenfund.org, because they focus on helping small businessfolk in third world countries create and run businesses that benefit poor people. Seems to be a win/win to me. You can find talks by the head of Acumen Fund at www.ted.com. You can find other charities evaluated by an independent source here:

http://www.charitynavigator.org/

I agree with blog author and would like to add: the money can go to support someone who is indeed struggling to get by, or it can go to buy crack, or simply support causes I'm against. At the end of the day, I have more control and accountability for my donated dollars.

I'd also reckon that those people wouldn't offer cash discounts unless there was some sort of win for them (such as not having to report/get taxed on it). It's easy enough to say, "I'm afraid not."

Oh, another thing: I look at the charities the Bill Gates Foundation supports (it supports Acumen Fund). I figure if Warren Buffett (someone I trust very, very much) would hand a huge sum of money over to what is already the best-funded charity, there's gotta be something there he trusts, which hopefully also has good enough judgment to distribute their money intelligently.

Another thing: I dunno if you donate already, but if you don't, please don't let your skepticism prevent you from getting started. As with investing, getting started and even nominal amounts can make a big difference. If you find out you've chosen the wrong charities for whatever reason, you can change them later. Just get started, because you'll start to see yourself as someone who donates and supports causes and so it'll be easier to find the right charity or cause for you. Cheers!

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