Post: #1

Hi guys,


I've enjoyed a pretty comfortable two years financially, making good (not great) money that has meant i could travel, go on holidays, go out a ton etc.

Internet marketing has become really volatile though and I can't rely on my income being as high as before. I have built a solid business off the back of google traffic so it's not completely reliant on that anymore (word of mouth). But from that alone I'd probably only make around $30-40k but would have plenty of time to have a FT job on a similar salary.

Anyways, I just wanted to see if people had any thoughts/tips on good ways of saving money, spending less and still having a great time.

Three from me to start-

1. Don't get a mobile phone contract - I bought an unlocked second hand iPhone 4 for $250 and chuck in non contract sims that are dirt cheap for usage.

2. Get rid of the car - if you can. They are big cost every month and if you can feasibly make do without one, it saves a ton. Biking, walking all do the job.

3. Avoid taxis when pos - last summer when I was staying in Chicago I got like 2 taxis pd on average or something. I could have just walked, especially as it was nice summer weather.

4. Go out on week nights to get specials on food n drink

5. Generally don't drink as many drinks per night. Other bonuses in this too.

6. Skip starters and deserts, stick to mains.

7. Get rid of cable/satellite tv - Go Netflix and standard tv.

Would love to hear some thoughts and tips from others...

Post: #2

I make my own lunch and bring in a thermos of coffee to work every day instead of going out. It saves me a ton of money, and if you're watching what you eat it's easy to make sure you're eating good food and not crap.

Post: #3

Buy your liquor in the 1.75L 'handles' instead of 750ml bottles. I didn't realize how big the cost savings was until recently. A mid-range whiskey or vodka like Old Granddad or Luksusova is around $20 for a bottle, just over 30 for a handle i.e. over twice as much booze. It seems weird to buy a giant bottle just for yourself but it's a big savings...as long as it you don't start drinking it faster.

Then get a flask for nights out and you are set.

Post: #4

baking soda for deodorant

extend life on disposable razors by sharpening on jeans

ditch the gym membership. invest in a weight set for your home and or stick to body weight exercises

buy your car used

buy electronics and other items at pawn shops

stop spending money on soda

try to avoid packaged and processed foods (stick to foods from stratch)

try to live near your job

read the millionaire next door

Post: #5

The biggest expense IMO is food. Spending $50-60 a week on lunch or $200+ a month on lunch alone is a lot. Buying groceries and making your own lunch would save a lot of money.

Opening an online saving account like ING for example. Transferring $15-25 a paycheck (bi-weekly) to a saving account automatically or more. You won't miss it, and by the end of the year. You will up to a $1000 in a saving account. Great for emergencies.

Learning to say No also.

Post: #6

There are soo many ways go save money, don't get me started.

On an extreme edge of the spectrum but interesting to know about because it illustrates it can be done, a friend of mine was telling me about a 3 month trip from Lisbon to Rome. She walked the whole way and only spent 300 Euros for the whole three months. She only spent her money on food though and probably did a lot of dumpster diving along the way.

I'll focus on travelling.

Carry a bag with you, mine has a very clear very sexual message on it so it's almost like personal advertising. Mine has two sides so if there is something work related or I need to appear more conservative I turn it over.

Carry a water bottle, which in some places (UK, Portugal, Italy, Spain,.....) you can refill in bathrooms. If you have to buy water since it is contaminated get it from the large Grocery stores around where you are since it will be cheaper.

I carry around snacks. Nuts, berries ecc.

Go to eat at cheap places or if you're in a country where Yelp exists look things up beforehand. If not, ask a cop or a mailman where they eat that is cheap. Usually I get good recommendations.

Don't take Taxis (places like Ukraine: make sure a local calls a taxi since it will be way cheaper than on the street). Most of the time I never take taxis, exceptions are when I'm super lazy, sick, or taking a girl home. Soo much of things are about logistics and often things like this turn out to be killer important.

Ask people where you are how they get to places. Like in the UK I figured out about Megabus. Purely from a Money perspective I spend less money on Megabus than hitching in the UK if I book enough in advance, after you figure that I'll probably end up buying something at the convenience stores and will also have to pay for public transport tickets out of town most of the time for the best places to hitch.

Go to restaurants that have a lot of people but that preferably have plastic or cheap chairs, furniture, ecc. Surroundings don't mean much to me but quality food does. Again, when you're going out with girls you need to have a few places that combine cheap and decent atmosfere.

Mobile Phones in the EU zone. If you get a Vodafone SIM from many countries within the EU your charges will be 11 Cents per sms to EU zone members. I have an Italian Vodafone SIM with no monthly fees and I pay 11 cents for text messages in Spain, Porgual, UK for sure since I've been trying it out recently. Know that this rate is valid for the EU zone will have to see what it's like for the FSU countries. Previous to this I always got a SIM in whatever country I was in but with 11 cents SMS's it's hard to justify the 10 Euro expense of a new Sim Card and the hassle of learning a new number...

Wash your own clothes. At a friends houses where you're staying or in the water basin in hostels or things like this.

I don't save money by staying in. Why travel if you're not going to go out and experience things? On the other hand there are plenty of ways of maximising the money you are spending.

Post: #7

Some gems thanks

Post: #8

(03-15-2013 10:04 AM)bacon Wrote:  baking soda for deodorant

extend life on disposable razors by sharpening on jeans

ditch the gym membership. invest in a weight set for your home and or stick to body weight exercises

buy your car used

buy electronics and other items at pawn shops

stop spending money on soda

try to avoid packaged and processed foods (stick to foods from stratch)

try to live near your job

read the millionaire next door

The Millionaire next door is a good book, i've read it about 3 times and it explains what this thread is asking.

Post: #9

Everytime you spend money, take a couple of dollars from that money and put it in a box or something and forget about it.

Do that everytime you spend money, the amount of money you will save that way is ridiculous and can really help during tough times.

I also do the same thing when grocery shopping, for all the meat I buy I cut a little part and throw it in the freezer.
When I run out I do not use what I have saved, I go grocery shopping again and add another piece to the stock.

Post: #10

Get a journal and make a note of every, i mean every expenditure. Wether it's a dollar you gave that bum or for your prescription of Valtrex, make a note of it. You'll be surprised how much you spend in a year.

Post: #11

Being frugal means nothing in the bigger scheme of things. Why deprive yourself in the present? As long as you're living below your means, with the intention of expanding your means, fuck frugal - I want my dessert.

Post: #12

Sign up for mint.com

Start categorizing your spending.

Very eye opening for me.

Most of us have what are called "leaks." We spend a trickle, or small amount of money, regularly without realizing it.

How often do we buy packs of gum or a soda or red bull at the gas station for $2 or whatever? You may spend a few hundred dollars a year on bullshit that way, when you could instead buy in bulk at all once and still get the gum/soda/red bull at half the cost.

The goal is to plug those leaks.

For each guy it will be different. Mint or another program can help you find those leaks.

Post: #13

(03-16-2013 04:44 AM)Prophylaxis Wrote:  Being frugal means nothing in the bigger scheme of things. Why deprive yourself in the present? As long as you're living below your means, with the intention of expanding your means, fuck frugal - I want my dessert.

Living a bit frugal is good if you want to save up for trips overseas. That is a major point of this forum, so I would not say that living frugally is categorically wrong.

Post: #14

Do bodyweight workouts/exercise as a hobby.
Spend your time doing other stuff that doesn't cost anything.
Cook your own meals.
Don't spend a lot of money on dates.
Get rid of stuff with a monthly cost.

Post: #15

When I'm at home, I eat beans, bread, and milk. I drink vegi juice. Fast, healthy, cheap.

Buy your electronics used. I got a $1200 projector for one tenth that price on ebay. Used, colors are off but I did not tell until I ran tests. I bought my sound system in a garage sale.

Check out when your local university ends spring semester and pick up new furniture and electronics off the curb. Once got a new plasma TV and a PS3. Sold those on ebay.

Post: #16

(03-16-2013 05:36 AM)The Texas Prophet Wrote:  

(03-16-2013 04:44 AM)Prophylaxis Wrote:  Being frugal means nothing in the bigger scheme of things. Why deprive yourself in the present? As long as you're living below your means, with the intention of expanding your means, fuck frugal - I want my dessert.

Living a bit frugal is good if you want to save up for trips overseas. That is a major point of this forum, so I would not say that living frugally is categorically wrong.

Sure, you can save and cut costs and after a year or so, you'll be able to lash out on an overseas trip for a month or so. You spend your money, wash - rinse-repeat.

A more sustainable approach would be to focus on increasing your cash flow instead. The cost cutting will seem trivial after a few years. This will help you achieve your travel dreams must faster.

Post: #17

(03-16-2013 06:55 AM)Prophylaxis Wrote:  

(03-16-2013 05:36 AM)The Texas Prophet Wrote:  

(03-16-2013 04:44 AM)Prophylaxis Wrote:  Being frugal means nothing in the bigger scheme of things. Why deprive yourself in the present? As long as you're living below your means, with the intention of expanding your means, fuck frugal - I want my dessert.

Living a bit frugal is good if you want to save up for trips overseas. That is a major point of this forum, so I would not say that living frugally is categorically wrong.

Sure, you can save and cut costs and after a year or so, you'll be able to lash out on an overseas trip for a month or so. You spend your money, wash - rinse-repeat.

A more sustainable approach would be to focus on increasing your cash flow instead. The cost cutting will seem trivial after a few years. This will help you achieve your travel dreams must faster.

If you want a more sustainable reason to be frugal, than you can be frugal in order to save money in order to buy a property and rent it in order to get passive income. Then you can spend more time overseas without having to work all the time.

Post: #18

(03-16-2013 07:00 AM)The Texas Prophet Wrote:  

(03-16-2013 06:55 AM)Prophylaxis Wrote:  

(03-16-2013 05:36 AM)The Texas Prophet Wrote:  

(03-16-2013 04:44 AM)Prophylaxis Wrote:  Being frugal means nothing in the bigger scheme of things. Why deprive yourself in the present? As long as you're living below your means, with the intention of expanding your means, fuck frugal - I want my dessert.

Living a bit frugal is good if you want to save up for trips overseas. That is a major point of this forum, so I would not say that living frugally is categorically wrong.

Sure, you can save and cut costs and after a year or so, you'll be able to lash out on an overseas trip for a month or so. You spend your money, wash - rinse-repeat.

A more sustainable approach would be to focus on increasing your cash flow instead. The cost cutting will seem trivial after a few years. This will help you achieve your travel dreams must faster.

If you want a more sustainable reason to be frugal, than you can be frugal in order to save money in order to buy a property and rent it in order to get passive income. Then you can spend more time overseas without having to work all the time.

Saving for a house and paying off the mortgage/interest takes AGES man! How long do you estimate until you have enough passive income from rent (after all the properties you'd have to buy) to fund a permanent overseas lifestyle? You'd be checking into your nursing home.

This is what 99% of people think. Save/Buy property --> rent --> ??profit.

When it should be profit (cash flow/net income etc) --> buy property --> rent

This applies to being frugal in all aspects of life as well. Switch the focus from saving to making and it will pay dividends.

Post: #19

(03-16-2013 07:23 AM)Prophylaxis Wrote:  

(03-16-2013 07:00 AM)The Texas Prophet Wrote:  

(03-16-2013 06:55 AM)Prophylaxis Wrote:  

(03-16-2013 05:36 AM)The Texas Prophet Wrote:  

(03-16-2013 04:44 AM)Prophylaxis Wrote:  Being frugal means nothing in the bigger scheme of things. Why deprive yourself in the present? As long as you're living below your means, with the intention of expanding your means, fuck frugal - I want my dessert.

Living a bit frugal is good if you want to save up for trips overseas. That is a major point of this forum, so I would not say that living frugally is categorically wrong.

Sure, you can save and cut costs and after a year or so, you'll be able to lash out on an overseas trip for a month or so. You spend your money, wash - rinse-repeat.

A more sustainable approach would be to focus on increasing your cash flow instead. The cost cutting will seem trivial after a few years. This will help you achieve your travel dreams must faster.

If you want a more sustainable reason to be frugal, than you can be frugal in order to save money in order to buy a property and rent it in order to get passive income. Then you can spend more time overseas without having to work all the time.

Saving for a house and paying off the mortgage/interest takes AGES man! How long do you estimate until you have enough passive income from rent (after all the properties you'd have to buy) to fund a permanent overseas lifestyle? You'd be checking into your nursing home.

This is what 99% of people think. Save/Buy property --> rent --> ??profit.

When it should be profit (cash flow/net income etc) --> buy property --> rent

This applies to being frugal in all aspects of life as well. Switch the focus from saving to making and it will pay dividends.

I don't know about where you live, but where I live (Austin, TX) property is not that expensive. I could buy a decent house pretty quickly if I was frugal for a couple years and rent that baby out and spend more time overseas.

Post: #20

I live alone....but because I go to the gym every day I buy and eat all the expensive foods, ie - cooked chicken, fish / shellfish etc, all pre-cooked and ready to eat, all branded other goods. Worked out I am spending £420 a month as a single guy!!!

I found switching from branded to none branded stuff made a big difference. Tried it on everything, and only on about 25% of stuff have I gone back (due to taste etc), however, most of the stuff you can tell no difference. Makes a big difference to the spend.

Post: #21

Some more good tips, thanks.


Regarding focusing on increasing cab flow - I already am, massively. But focusing on both sides to make me more financially secure is better than focusing on just one.

As I said in the op I am looking at protecting my lifestyle should biz go down a bit.

Post: #22

I live in a hotel 300/month with utilities. Not at home much anyway.

Goodwill sells clothes so cheap its easier to buy new than wash. They'll do big deals every once in awhile 1$ per shirt exc...

Get toilet paper and napkins from gas stations and restester aunts.



My living expenses are 900/month. A lot of that's from eating healthy food. If ya don't give a shit about getting fat buy huge bags of cereal

Post: #23

(03-16-2013 05:01 AM)MikeCF Wrote:  Sign up for mint.com

Start categorizing your spending.

Very eye opening for me.

Most of us have what are called "leaks." We spend a trickle, or small amount of money, regularly without realizing it.

How often do we buy packs of gum or a soda or red bull at the gas station for $2 or whatever? You may spend a few hundred dollars a year on bullshit that way, when you could instead buy in bulk at all once and still get the gum/soda/red bull at half the cost.

The goal is to plug those leaks.

For each guy it will be different. Mint or another program can help you find those leaks.

Great website. I just signed up myself. I only worry about getting hacked now that ALL my financial information is in one place. But all the reviews I read about Mint said there have been no reported security problems, just a lot of potential for security breakdowns due to the centralization of data.

Post: #24

Don't be a bum though. You can save money by doing it on your own (cooking, DIY your car and house) but don't do it at the expense of others.

I had 8 people yesterday. they spent fucking $7.17 (it should be at least $2.5 per person for me just to break even)
I dropped Seven Dollars on wine last night and I was thinking whole time, how a Baller I was compared to those cockroaches.

Post: #25

(03-17-2013 03:51 AM)Loveless Wrote:  

(03-16-2013 05:01 AM)MikeCF Wrote:  Sign up for mint.com

Start categorizing your spending.

Very eye opening for me.

Most of us have what are called "leaks." We spend a trickle, or small amount of money, regularly without realizing it.

How often do we buy packs of gum or a soda or red bull at the gas station for $2 or whatever? You may spend a few hundred dollars a year on bullshit that way, when you could instead buy in bulk at all once and still get the gum/soda/red bull at half the cost.

The goal is to plug those leaks.

For each guy it will be different. Mint or another program can help you find those leaks.

Great website. I just signed up myself. I only worry about getting hacked now that ALL my financial information is in one place. But all the reviews I read about Mint said there have been no reported security problems, just a lot of potential for security breakdowns due to the centralization of data.

Agreed. Mint is a fantastic website not just for identifying you expenditure leaks but also for achieving savings goals. Lots of clear graphs and tables that you can use that really make it seem like you are achieving your goals. I have been using it for three months now and have saved just over 400 dollars already purely from the site.