Simply Saving Money
“We buy things we don't need with money we don't have to impress people we don't like.”
- “The Total Money Makeover” by Dave Ramsey
-Only go out to eat on special occasions
This one is obvious, but can be difficult to do because it is easier to just go to a fast food place or a restaurant. The amount of money you’ll save is huge though. In just one years time you could save thousands of dollars. Dollars that can be used to grow wealth! That being said, it is important to celebrate from time to time. Holidays and birthdays are a good time to splurge a little on the food budget, but also the big moments are good as well. My Family and I went out to a restaurant when I finally got my Bachelors degree and when we paid off our cars.
-Make your own coffee
If you have no vices I envy you, but some of us love our morning cup of Joe. Once upon a time my Wife and I had the habit of going out to get our coffee almost every day. When we finally decided to get our act together and make a budget so we could become financially stable we were amazed at how much coffee was costing us. By making our coffee at home for just a year we’ve saved thousands. Not just on coffee but also on the gas it takes to get the coffee.
-Don’t buy disposable water bottles
Reusable water bottles aren’t that expensive and they pay for themselves pretty quickly after using them for a little while. As well as saving money it’s also better for the environment. My Wife and I have the ones that keep the water cold throughout the day, which is great.
-Have only one TV app at one time
This is a hard one, because many of us have favorite shows on several different platforms. The way we get around this is we alternate between the different apps every couple of months. We’ve also learned to only watch TV for a couple of hours in the evening each day and to turn the TV off an hour before going to sleep, which really helps with getting a good nights rest. The reason we’ve learned to do this is because we had five apps going at the same time, so with Wi-Fi our TV habit was costing quite a lot of money. Sometimes you get deals with different companies also, like two weeks of free access, which is pretty cool.
-Make sandwiches for the week on Sunday
I don’t know about you but I love eating sandwiches for lunch. They’re super easy to make and not pricey. Sometimes when I’m on the go it’s great to already have a quick and easy pre-made sandwich. Eating homemade sandwiches when out and about is a good way to not spend money on food while rushing around. I make several sandwiches on Sunday and eat them throughout the week, it’s saved us hundreds.
-Cancel subscriptions that aren’t necessary
When My Wife and I got serious about becoming financially independent we went through every single expense. In order to create an accurate budget we had to know all the money coming into our bank account and all the money going out. We discovered several subscription services that weren’t necessary and quickly cancelled them, saving hundreds of dollars every month.
-Use reusable towels instead of paper towels
With a little bit of extra work, because we have to put the towels in the laundry and put them away when they are clean, we’ve saved a lot not buying paper towels. This works for all disposable products that can be replaced with reusable products. It’s also better for Mother Earth.
-Get an e-reader
I’m a big time reader. I read all the time. I probably go through a book a week when I’m on a roll. Before moving in with my Wife I had hundreds of books, so many in fact that I had to get rid of all but my favorites when my Wife and I moved in together so many years ago. I was a little upset about it so my Wife bought me an e-reader, and I’ve never looked back. Now I only buy my favorite books, because I like the feel of them and I like to make notes and reference them easily. I’ve saved so much money getting e-books, also my local library offers e-books to check out for two weeks at a time for free!
-Walk places instead of drive if it’s possible
This seems pretty obvious, especially with gas prices being so high these days, but it has taken a little getting used to. Luckily our library is pretty close and so is the grocery store so we’ve learned to make an outing of it. A nice walk outside to get some Sun and fresh air. It takes longer but it makes a chore into an experience, and of course it saves money.
-Work out at home Instead of at the gym
We used to go to the gym a couple times a week, but now we’ve learned to exercise at home. I enjoy my daily walks and my Wife got an exercise bike which is in her at home office. The big thing with exercising at home is it’s important to make it a habit and to change things up every once in a while. I don’t even miss going to the gym anymore.
Remember, it’s important to still enjoy life while on a budget. These concessions don’t have to be permanent, they can be temporary. You can “buckle down” for a little while then relax for a little while then “buckle down” again.
It’s also important to have a goal in mind. Our goal is to decrease expenses so we can increase our acquisitions of income producing assets and assets that gain in value over time until we reach financial independence.
It’s entirely possible to change from a Consumer Driven Lifestyle to a Minimalistic Wealth Building Lifestyle.
We are in control!
We are in charge!
Time to Create a Goal, make a Budget, construct a Plan, and take Action!
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