How to save money when everything costs money?
- Thread starter Special T
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SmoothTalker
Master Don Juan
It can be tough. Hopefully though as you improve yourself, whether that be social skills or getting an education, your earning power should also increase. That helps.
As for saving money, yes things cost money, so you just have to decide what's worth it and what isn't.
Some things you should be able to cut out fairly painlessly are eating out and drinking at bars (drink less or at least predrink). Also don't drive like a dumbass because gas isn't free, take advantage of deals such as movie cheap night, etc.
If that isn't enough, then depending on your financial situation and how pricey your hobbies are, you may have to make bigger sacrifices. For example if you work minimum wage and your hobby is yacht sailing, there may be a problem that simple budgeting won't fix. Be realistic.
As for saving money, yes things cost money, so you just have to decide what's worth it and what isn't.
Some things you should be able to cut out fairly painlessly are eating out and drinking at bars (drink less or at least predrink). Also don't drive like a dumbass because gas isn't free, take advantage of deals such as movie cheap night, etc.
If that isn't enough, then depending on your financial situation and how pricey your hobbies are, you may have to make bigger sacrifices. For example if you work minimum wage and your hobby is yacht sailing, there may be a problem that simple budgeting won't fix. Be realistic.
The best way is to think of money in the long term.
For example, instead of buying a junker of a car. Buy something a little more expensive, like a car just off lease, that is more reliable and requires less repairs and maintenance. In the long run, it costs you less to operate per year then a gas guzzling SUV you bought from a neighbor that breaks down all the time.
You buy a computer, buy something with more reliable parts and keep it working longer instead of replacing it every two years.
When borrowing money, shop around. Get the best deal you can. When paying back money, pay back the highest interest loans first. For example, lets say you have $1000 in credit cards at 14% interest and $500 at 3% interest in your line of credit. If you pay off the credit cards first, you save more money. Even if you only have $500 in the line of credit, if you pay off the credit first you pay less interest. Work it out on paper if you need proof.
... etc.
Sources: I'm in school for Business Finance, I can get you some links for reading material if you want.
For example, instead of buying a junker of a car. Buy something a little more expensive, like a car just off lease, that is more reliable and requires less repairs and maintenance. In the long run, it costs you less to operate per year then a gas guzzling SUV you bought from a neighbor that breaks down all the time.
You buy a computer, buy something with more reliable parts and keep it working longer instead of replacing it every two years.
When borrowing money, shop around. Get the best deal you can. When paying back money, pay back the highest interest loans first. For example, lets say you have $1000 in credit cards at 14% interest and $500 at 3% interest in your line of credit. If you pay off the credit cards first, you save more money. Even if you only have $500 in the line of credit, if you pay off the credit first you pay less interest. Work it out on paper if you need proof.
... etc.
Sources: I'm in school for Business Finance, I can get you some links for reading material if you want.
Hobbies don't have to cost anything. Just depends what your hobby is. If your hobby is buying prada and gucci bags then, yes it costs money. If your hobby is walking around the block picking up coins off the ground then it doesn't cost money.
PlaysToWin
Don Juan
If you smoke, quit.
If you don't need a car (you live in a big city) don't have one.
If you don't need a car (you live in a big city) don't have one.
Invest in your career.
Everything costs money, you can scrimp and save all you want but that takes time and energy.
If you make 30K and are really good at saving you can turn it into 40K
If you make 120K you can blow 40K on dumb sh1t and still have 80K to be smart with..
Also, having a tight ride is huge in dating IMO..
When you are dating a chick, if you have a nice car and don't act like it's a big deal, you demonstrate higher value the entire time she's with you without saying anything at all.
Everything costs money, you can scrimp and save all you want but that takes time and energy.
If you make 30K and are really good at saving you can turn it into 40K
If you make 120K you can blow 40K on dumb sh1t and still have 80K to be smart with..
Also, having a tight ride is huge in dating IMO..
When you are dating a chick, if you have a nice car and don't act like it's a big deal, you demonstrate higher value the entire time she's with you without saying anything at all.
Find some other sources of income. Small time business, online business, blogging with adsense revenue. Something that won't take up a ton of your time but will bring you extra money to afford the things you want.
I have about 3 other endeavors besides my day job and two of them are starting to pay off. Once I get these up and running I plan on hiring someone to do most of the work and then start something else. Multiple streams of income is the way forward.
I have about 3 other endeavors besides my day job and two of them are starting to pay off. Once I get these up and running I plan on hiring someone to do most of the work and then start something else. Multiple streams of income is the way forward.
You have to work your tail off for money and buy and live cheap.Special T said:
Hobbies with girls aren't expensive and a social life isn't expensive either. You have to budget, think smart, don't waste money on stupid things. If you go to nightclubs every night and buy 3 girls drinks hoping to get laid by one of them, then yes, you will not save money. If you work hard for money, spend money on a girl you care about and make her have fun, you will be fine.
It depends where you live. I could barely save any money living in Boston, but can save a ton now that I am gone. Figure out where your money is going, and determine if those sources are significant or necessary. If they are not really significant, don't waste time on them. Example: saving 10 bucks a month by turning off the heat vs. saving 200 bucks a month not eating out....the idiot would prioritize trying to turn off the heat.
Kiyosaki is one of the biggest frauds in financial circles, but he has one thing right: focus on growing your money as opposed to focusing entirely on saving. If you have a good budget and track your growth, one can include their hobbies and social life without hindering your financial growth.
Kiyosaki is one of the biggest frauds in financial circles, but he has one thing right: focus on growing your money as opposed to focusing entirely on saving. If you have a good budget and track your growth, one can include their hobbies and social life without hindering your financial growth.
This is an important point: No one seems to understand saving money anymore, having been brainwashed by the mass media into buying everything they possibly can. Our society is now slowly becoming a cultural wasteland due to excessive materialism.
Don't listen to adverts, don't buy stuff you don't need. Why would you buy that can of coke? Will it make you happy? Will it fulfil you? I doubt it. Why buy a new TV, will the higher resolution and more pixels make you happy? Will it make you successful? I doubt it.
Focus on only using your HARD EARNED money to buy experiences, or thins you actually need: Food, House, Clothes etc.
The only things I really spend money on are clothes, the Gym, tennis lessons and singing lessons. All of which are important hobbies and will help me socially. But don't go overboard buying 50 different colognes etc. Research thoroughly before spending your HARD EARNED money, or it'll be wasted.
Live frugally and you'll find you are much more happy, not being bound to your material possession. Just like in Fight Club "The things you own end up owning you"
Don't listen to adverts, don't buy stuff you don't need. Why would you buy that can of coke? Will it make you happy? Will it fulfil you? I doubt it. Why buy a new TV, will the higher resolution and more pixels make you happy? Will it make you successful? I doubt it.
Focus on only using your HARD EARNED money to buy experiences, or thins you actually need: Food, House, Clothes etc.
The only things I really spend money on are clothes, the Gym, tennis lessons and singing lessons. All of which are important hobbies and will help me socially. But don't go overboard buying 50 different colognes etc. Research thoroughly before spending your HARD EARNED money, or it'll be wasted.
Live frugally and you'll find you are much more happy, not being bound to your material possession. Just like in Fight Club "The things you own end up owning you"
Thanks everyone. Now that I've been moved from consultant to full-time employee earning a great salary for a single guy with no kids, I want to start doing right with my finances. The suggestion to get a small business going and have other streams of income coming in is an excellent. Unfortunately, I don't have any ideas to help me get started. I really don't want to get another job unless it's just a fun throwaway job which allow me to interact with girls on a regular basis 
.
.Small business is good, but you might have more money than you think. Better manage what you have before you look into more sources of income. Look into personal financial planning. I recommended the Mint.com blog and consumerist.com when looking for financial advice and products.
Their stuff is basic and to the point. Great for most situations.
How are your savings? Hope you've got the 3months living expenses saved up in a rainy day fund.
Their stuff is basic and to the point. Great for most situations.
How are your savings? Hope you've got the 3months living expenses saved up in a rainy day fund.
Haha. True. I spent at least 6 months shopping and researching cars before I got mine. It's the best thing I've ever bought because I took my time to consider everything I could. Still happy with it 2 years later.CaptainJ said: