Getting ahead financially on such a small income requires what I call a ‘death of a thousand paper cuts’ in regards to finances. Yes, there are a few big things you can cut and feel amazing about. The low hanging fruit, cable and what not. After that? It’s much harder, and it’s a couple bucks here and a tenner there. Here is one way I cut costs over time that continues to this day.
Don’t let boredom become an excuse to break your budget. Fun doesn’t have to come with a price tag or at the expense of your long-term financial goals.
It’s the small, intentional choices that really do make all the difference. As I’ve highlighted throughout this post, these seemingly marginal cost-saving techniques can help to save you thousands of dollars every year.
Not too many people are talking about this or thinking about this—we just kind of bank on the fact that we’ll be healthy after we stop working at our job. And what happens if you’re not?
I figured if I’m going to stay doing this kind of low-level job, I’d better try to enhance my wealth, maybe not through W-2 work, but through investing.
Those were the kind of decisions that I then started to make as I realized that this debt is gonna be gone: what now, where do I go with my life after debt, what does that look like for me? And for me, it was really figuring out what success looks like for me, what things that I value, and why am I doing all of this? Now that the debt is paid off, what now?
Investing can seem intimidating or downright scary if you’ve never jumped in and done it before, or if you’ve tried in the past and …
You might see someone saving twice as much as you and feel like that will never happen for you. But remember that that person had to start somewhere, too.
If you haven’t started saving for an emergency fund, then start today! It’s time to start taking steps to protect yourself and your family’s future. Don’t wait until it’s too late.
I was set on learning everything so I could beat these banks at their own game.
The internet has made shopping a whole lot easier. It means I can sit at home in my pajamas and comparison shop a dozen sites in a half an hour while sipping a cup of tea.
That beats the exhaustion that comes from driving around to a bunch of different stores all day to compare prices and pick up stuff all over town.
Money is easy to spend and hard to save. But there are a few things you could do to make it a little bit easier to save money.
The first $100k is such a pain because most of it is purely based on how much you save. When you have less than $100k, you have very little investment returns helping propel your net worth higher. It’s all about how much money you can throw in your bank account each month.
You can become a control freak with your money. But at some point, you have to understand that you cannot control everything. Use your precious energy and time for things that you can actually control. Leave the other stuff for the universe to figure out.
Most young couples that I know are at least intrigued by the possibility of living a single-income lifestyle. Many of them feel that it just can’t be done with the cost of living, payments, education etc. and so they just accept the way that things are. This post is written as an encouragement to anybody who is considering becoming a one-income family.