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Income is finite. Allowing yourself to be conditioned to think it's an endless river and $5 or $5000 frittered away doesn't matter because your income is continuous is a dangerous, destructive trap... one that doesn't spring until it's far too late to do anything about it.
Eh, that depends, honestly. The vast majority of my income if not all of it is passive income. It’s an endless well of financial resources that is evergreen. My time is finite. Money is not an issue, so I wouldn’t spend much time just to save money. Don’t get me wrong I hate wasting money as a matter of principle but I won’t go out of my way to save a few dollars.
Not that I do this, but if someone was so meticulous about saving on gas, they would buy 10 gallon barrels to fill whenever the gas price is down. And fill car from there.
Not sure how safe this is in large amounts, but I keep a 5 gallon jug for mower at home. Filled car with it from time to time if I'm lazy about stopping at gas station.
I recently bought a 500 gal farm tank.... 2 refills will make the tank free, everything from them on will be profit. (And easier)
I prefer it to be an ongoing monthly savings for less or no effort while not depriving myself. Then I am proud!
Recent savings- $65 a mo. w/other benefits too
$35 mo -Trash- Already park adjacent the work dumpster.
Drop an average sized paper bag full 4x a wk (we recycle so have little trash)
$15 mo. averaged out monthly
Waterfall used for laundry
placed in cages and rotated. 6 months a yr during summer/fall. We have the cleanest water in the State
-Saves time. No need to keep loading washer/dryer
-No need to buy detergent
-Clothes last much longer
-Clothes smell and are, much much cleaner
-Hang clothes out to dry
$15 a mo. Coffee now bought at the mom & pop store for $1 instead of the gas station for $1.75.
- Both are on my way to work w/easy parking
-Coffee is better tasting too!
The best way to save money is by buying stuff from auctions. My $9,000 truck was $1,200 at a government auction. Furniture for the house pennies on the dollar. Riding lawn mower Zero turn $300 vs $2,000... I even started a blog because I love it so much GoingTwiceSold.com. Just kinda talks about some stuff I’ve won and ideas on how to use auctioning as a side hustle to save $ or lay down debt..
I can remember the first job I ever had, where on payday I still had some left that I could save. I remember how great that felt. and I resolved to never spend it all.
Since then (57 years), I've never had a savings account. I could depend on myself to just put it in my current account and let it grow and proudly keep counting how much I had.
Eh, that depends, honestly. The vast majority of my income if not all of it is passive income. It’s an endless well of financial resources that is evergreen. My time is finite. Money is not an issue, so I wouldn’t spend much time just to save money. Don’t get me wrong I hate wasting money as a matter of principle but I won’t go out of my way to save a few dollars.
The trouble with such reasoning is that it’s not robust to disturbances. On the smallest scale, rates of returns might crumble, or stay unacceptably low over long periods of time. While this is OK if one’s capital is large, and capital-growth isn’t the priority, it’s havoc on the portfolio’s sustainability. Even if returns stay good, taxes obtrude, and those taxes have to be paid, whether or not one sells stock, or engages in any other transaction. Dividends and interest get taxed, no matter what. How to pay for this? The larger one’s portfolio, the larger the recurring tax-burden, regardless of one’s actual expenses or spending-habits.
In the larger scale, we must grapple with the possibility that our situation might deteriorate drastically, be it in matters of health, divorce, scandal, or some other malady. Even the largest fortune can be lost to intemperance, blunder or just misfortune.
Nevertheless, I’ve learned that mere frugality is totally inadequate insurance against loss. We can’t belt-tighten our way back from stock market losses, such as those since September 2018. When we do tighten out belts, it’s from feeling of guilt, or fear; it’s nowise an effective strategy for actually doing anything, but it is a strategy for dealing with the emotional fallout.
Saving money isn't free. There's a time cost involved. Sometimes the amount of time spent to find that "great deal" outweighs the actual savings. (No, I am not going to drive 30 minutes across town to save 5 cents/gallon on gas.)
...
Had an aunt like that when I was growing up. Basically would hit every grocery in town every week because Winn Dixie had a better coupon on meat and Bilo had one for milk, and Community Cash had one for bread and eggs, and of course AP had the best coffee. Wasting hours of time and spending dollars to save pennies.
Had an aunt like that when I was growing up. Basically would hit every grocery in town every week because Winn Dixie had a better coupon on meat and Bilo had one for milk, and Community Cash had one for bread and eggs, and of course AP had the best coffee. Wasting hours of time and spending dollars to save pennies.
I used to be like that to some extent...
Then one day I was waiting in line for "cheap" gas at Costco in North Jersey. There were about 7-8 cars in front of me. I realized it was going to take a solid 20 minutes before I got gas, and even if I filled my tank I'd only be saving about $2.50. Which means, I was essentially being paid $7.50 an hour to wait for gas.
That epiphany changed the way I looked at my time and saving $ forever...
Then one day I was waiting in line for "cheap" gas at Costco in North Jersey. There were about 7-8 cars in front of me. I realized it was going to take a solid 20 minutes before I got gas, and even if I filled my tank I'd only be saving about $2.50. Which means, I was essentially being paid $7.50 an hour to wait for gas.
That epiphany changed the way I looked at my time and saving $ forever...
Meaning, what? You thought $7.50/hr hour was worth it? Or was not?
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