Help me save money

Im sure, a corolla could get to 225

attachment.php

I know its not a corolla
 

Attachments

  • image.jpg
    image.jpg
    187.1 KB · Views: 196
I want to expand on the idea of 'At what point does it become unproductive to focus on savings' a bit more, I'd like to find out what others think.
I think all of us here on SS would be above average in both camps - I want to make more money, but at the same time I can - and do - look at ways to not spend unnecessarily on things I need.

There are many different ways to make more money; but for most folks it required more time spent to do it - which many folks don't have, or don't want to use.

I could earn more money easily - find a part-time job for the weekends, and/or at night on the nights my wife doesn't work, and vice versa for her....

The result is; no life, no wife.. and for a short time until the "no wife" part occurs; more money.

For most folks, it ends up being a trade-off; less time involved in the pursuit of more income, and no time (or much less time) involved in the pursuit of savings.
 
I think all of us here on SS would be above average in both camps - I want to make more money, but at the same time I can - and do - look at ways to not spend unnecessarily on things I need.
I like to take my approximate hourly income, get rid of the taxes and remove the associated costs (ie. commute time, train tickets) to get my "real" hourly income.

I then look at how much time it'll take for me to get that saving. Then subtract a certain percentage based on how much the "work" to get the saving annoys me, in comparison to earning an income (ie. if it's 30% less annoying than working for my income, I subtract that). Then I weigh them up to see which one is better.

Sounds complicated but it's actually very easy once you get the hang of it.

You can also do the same for spending - you work out your "real" income, how long it takes to earn enough money to spend on the thing you want, and determine if it's worth working that hard to spend the money.
 
I am still sitting on my hands:)

But have been told foxtel charges will be reduced in November, so waiting to see how much and then take it from there.

Phones, internet etc. just too difficult at the moment, last time I changed suppliers it nearly killed me, unless I can save massive amounts I think I will just stick with what I have for now.

Cheers
MTR:)
 
You can also do the same for spending - you work out your "real" income, how long it takes to earn enough money to spend on the thing you want, and determine if it's worth working that hard to spend the money.
I have conditioned myself to do that years ago.

I think - in hindsight - it can be dangerous, because then you start to over-analyse every cent you spend on anything.

I find myself doing things such as; I'm out somewhere and I feel thirsty, and could easily go into a shop and buy a bottle of water, or a softdrink, etc.

But then I start to look at what they charge for one, (we used to sell drinks in my Proshops and I know what the wholesale cost is), plus the opportunity cost of that drink as opposed to other more important items I need in my life right now....

So, I end up not buying the drink, and either wait until I get home, or find a tap somewhere.

Same with food; I'm very reluctant to buy anything take-away when I am by myself...I wait until I get home if it's not that far away until I get there.

Pretty sad mindset - good for the aspiring property investor with no money, though. ;)
 
Back
Top