Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Old 04-01-2017, 08:29 AM   #81
Thinks s/he gets paid by the post
Marita40's Avatar
 
Join Date: May 2011
Location: St. Paul
Posts: 1,565
I have "no spend" days each week, often 5-6. That means absolutely no discretionary, grocery, lunch, etc spending on those days. On the one or two spend days, I have to plan carefully. This has helped me be LBYM.

I shop Aldi and end up buying perhaps 70% of groceries there, including tons of fresh produce.

I use Ting for my cell; usually runs about 18.00/month. No landline.

Cut cable completely. I read rather than watch TV. I upload library books or find books in the many Little Free Libraries here.

I purposely moved to a place where I can walk to almost everything, including to work. I can go for many days without driving and spend about 25.00 every two months on gas.

I try to buy quality, classic clothes that last. I've started to check out Goodwill before retail stores.

I've limited eating out; such a money drain. We often go to Happy Hours with cut rate prices.

I'm not poor. None of these things are a hardship. I like to keep my daily life simple and then indulge in my twin interests of traveling and restoring my venerable house, both expensive things.

The concept of paying oneself first was by far the best financial advice I got as a young person!
Marita40 is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 04-01-2017, 08:35 AM   #82
Thinks s/he gets paid by the post
Live And Learn's Avatar
 
Join Date: Feb 2012
Location: Tampa Bay Area
Posts: 1,863
I don't buy it unless I LOVE it. If its not something I will treasure and / or enjoy every single day I admire it and move on.

Also have 1/3rd of the house I could afford (and it's still 1 more bedroom than I need !), and drive cars for at least 15 years. It's the big ticket items that save money, especially home costs.

I also saw a saying that sums me up perfectly .... I'd rather have a $10 handbag with $290 in it than have a $300 handbag that's empty.
__________________
"For the time being no discipline brings joy, but seems grievous and painful; but afterwards it yields a peaceable fruit of righteousness to those who have been trained by it." ~
Hebrews 12:11

ER'd in June 2015 at age 52. Initial WR 3%. 50/40/10 (Equity/Bond/Short Term) AA.
Live And Learn is offline   Reply With Quote
Old 04-01-2017, 08:36 AM   #83
Thinks s/he gets paid by the post
 
Join Date: Feb 2013
Location: Toronto
Posts: 3,006
Another vote for the library. Books, newspapers, audiobooks, movies in many formats, special interest lectures. Same goes for the local universities on the last item. Some top notch speakers.
6miths is offline   Reply With Quote
Old 04-01-2017, 08:40 AM   #84
Thinks s/he gets paid by the post
 
Join Date: Mar 2015
Location: the prairies
Posts: 3,589
If you own a house, then becoming handy can save you thousands over the years...10's of thousands if you're really handy.

Most of my family are avid DIYers. No one would ever consider calling a contractor to do a job unless it was unavoidable...and, in those cases careful attention would be paid to how the contractor did the job so that we could do it on our own the next time.

If someone needed a new roof, a deck, or a fence, we all gathered and knocked off the job...just like an old fashioned barn raising. Those who were not as handy helped with clean up, being a gofer, watching the kids, or making lunch. A lot of money was saved over the years, and the added benefit was that the projects became family get-togethers where everyone dropped in.
Music Lover is offline   Reply With Quote
Old 04-01-2017, 08:43 AM   #85
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
pb4uski's Avatar
 
Join Date: Nov 2010
Location: Sarasota, FL & Vermont
Posts: 30,151
Quote:
Originally Posted by Marita40 View Post
....The concept of paying oneself first was by far the best financial advice I got as a young person!
+1 At my first job in the late 70s my employer had no way to take savings out of your paycheck, so I set up a savings account at a bank near to work but made sure not to get an ATM card for that account. Each payday, I would deposit my check at my regular bank that I had my checking account at and then take cash to the other bank and deposit it in savings. I purposely make it inconvenient for me to take money out of the savings account. If i couldn't access it then I couldn't spend it... so I had the concept of orange money long before Voya commercials.
__________________
If something cannot endure laughter.... it cannot endure.
Patience is the art of concealing your impatience.
Slow and steady wins the race.

Retired Jan 2012 at age 56
pb4uski is offline   Reply With Quote
Old 04-01-2017, 08:45 AM   #86
Thinks s/he gets paid by the post
Live And Learn's Avatar
 
Join Date: Feb 2012
Location: Tampa Bay Area
Posts: 1,863
Wanted to add some of the things we did before we retired:

1. From our first house to our current house, we purchased 1/3rd of the house the bank approved us for. We are two people - I never needed a 4 bedroom house !

2. Never ever ever spent a bonus. It all went directly into savings / investments. I have friends that include their bonus as part of their income and spend "knowing" that they can pay it with their bonus check later. That has backfired on them a time or two.

3. Was never big on eating out. I like my home cooked meals. We go out to dinner 3 times a year for our birthdays and our anniversaries, plus one or two other times with friends. (Still do this)

4. Game night with friends. We rotate cooking for each other. (Still do this)

5. Do NOT buy in bulk ! But I do shop loss leaders at the stores and stock up (still do this)
__________________
"For the time being no discipline brings joy, but seems grievous and painful; but afterwards it yields a peaceable fruit of righteousness to those who have been trained by it." ~
Hebrews 12:11

ER'd in June 2015 at age 52. Initial WR 3%. 50/40/10 (Equity/Bond/Short Term) AA.
Live And Learn is offline   Reply With Quote
Old 04-01-2017, 08:45 AM   #87
Thinks s/he gets paid by the post
Fedup's Avatar
 
Join Date: Mar 2014
Location: Southern Cal
Posts: 4,032
Quote:
Originally Posted by Music Lover View Post
If you own a house, then becoming handy can save you thousands over the years...10's of thousands if you're really handy.

Most of my family are avid DIYers. No one would ever consider calling a contractor to do a job unless it was unavoidable...and, in those cases careful attention would be paid to how the contractor did the job so that we could do it on our own the next time.

If someone needed a new roof, a deck, or a fence, we all gathered and knocked off the job...just like an old fashioned barn raising. Those who were not as handy helped with clean up, being a gofer, watching the kids, or making lunch. A lot of money was saved over the years, and the added benefit was that the projects became family get-togethers where everyone dropped in.
I save big money by becoming DIYers. Plus I don't feel so helpless. Nowadays, there are so many YouTube and videos on the internet that you can watch to help you. Plus there is a sense of accomplishment. Nothing beats that.
Fedup is offline   Reply With Quote
Old 04-01-2017, 08:50 AM   #88
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Nemo2's Avatar
 
Join Date: May 2011
Posts: 8,368
Quote:
Originally Posted by Fedup View Post
I save big money by becoming DIYers. Plus I don't feel so helpless. Nowadays, there are so many YouTube and videos on the internet that you can watch to help you. Plus there is a sense of accomplishment. Nothing beats that.
A while back DW & I had to replace the lid switch on the washing machine, which pretty much entailed dismantling the entire unit.........bought the part, took the laptop to the basement, watched the vids...fixed it...high fives all 'round. (And I am definitely not 'Mr. Fix-it'.)
__________________
"Exit, pursued by a bear."

The Winter's Tale, William Shakespeare
Nemo2 is offline   Reply With Quote
Old 04-01-2017, 09:37 AM   #89
Thinks s/he gets paid by the post
Major Tom's Avatar
 
Join Date: Nov 2009
Location: SF East Bay
Posts: 3,722
Quote:
Originally Posted by candrew View Post
Save on laundry by turning underwear inside out and wearing again on day 2.
This sounds like one of those joke readers letters in Viz Magazine! British forum members will be familiar with this rag that is full of silly British "laddish" and toilet humor.

Quote:
Originally Posted by candrew View Post
Reuse dental floss.
I thought this was overdoing it, and perhaps a bit "ewwww-inducing" until I realized that I do it too . I don't do it to save money, but simply because there doesn't seem to be much point in tossing a length of floss after just one use. Like gerntz, I usually break floss in the very slim gaps between some teeth, so 2 uses is usually the maximum before it hits the trashcan.

My general LBYM approach is very similar to W2R's, in that I seek to minimize the recurring expenses and, like others have mentioned, do as much of my spending as possible consciously, so that I spend on the things I really derive enjoyment and utility from.
__________________
Contentedly ER, with 3 furry friends (now, sadly, 1).
Planning my escape to the wide open spaces in my campervan (with my remaining kitty, of course!)
On a mission to become the world's second most boring man.

Major Tom is offline   Reply With Quote
Old 04-01-2017, 10:23 AM   #90
Thinks s/he gets paid by the post
GTFan's Avatar
 
Join Date: Apr 2013
Location: Atlanta
Posts: 1,118
Quote:
Originally Posted by Hyperborea View Post
Some interesting ideas and some that are well over into the cheap side beyond frugal (i.e. water only at a restaurant and no beer or glass of wine with dinner)
Seriously? At ~$2.50 for a glass of tea vs. free water w/lemon, I'm taking the water every time. This is where restaurants make a lot of their money.

Beer and wine are a different choice altogether.
GTFan is offline   Reply With Quote
Old 04-01-2017, 10:30 AM   #91
Recycles dryer sheets
 
Join Date: Jul 2014
Posts: 92
I put a price on my time, also. I'm at $20/hr. No guilt in using Pea Pod twice a month. I love that my food shopping is done and delivered on Saturday.
__________________
I find this early retirement topic sooo very overwhelming.
lampshade is offline   Reply With Quote
Old 04-01-2017, 11:03 AM   #92
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 30,019
Nowadays, we find little to spend our money on. No desire for new cars, electronics, furniture, etc... What we already have still work, and I do not crave the latest and greatest stuff. So, our expenses go down steadily with time.

Speaking for expenses to reduce, I am still paying for DirectTV, which we do not watch at all, and I mean at all, in our main home. Crazy? Well, in town we have the Internet, and get most recreational material out of that. Up in my high-country boondocks home, without the sat TV, I would feel so isolated from the world. What if a zombie breakout happens, and we know nothing about it?

I get a data plan with my cell phone now, and will see if I can cut out this TV expense of several hundred dollars a year that we use so little. We have not been able to go up to my "retreat" much recently, because my wife is now tied up with caring for MIL. This may continue for a while.
__________________
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
NW-Bound is online now   Reply With Quote
Old 04-01-2017, 11:12 AM   #93
Thinks s/he gets paid by the post
Fedup's Avatar
 
Join Date: Mar 2014
Location: Southern Cal
Posts: 4,032
I'm still paying for large cable fee. Everything for $139 except when we overuse for something then it could be $200. I like to watch CNBC and I've read the Sling TV doesn't work as well. I think this is the small potato expense category. Beside my husband likes to watch a lot of basketball so it maybe worth it. Who knows? I'm not stressing over it.
Fedup is offline   Reply With Quote
Old 04-01-2017, 11:26 AM   #94
Thinks s/he gets paid by the post
Hyperborea's Avatar
 
Join Date: Sep 2002
Location: Silicon Valley
Posts: 1,008
Quote:
Originally Posted by GTFan View Post
Seriously? At ~$2.50 for a glass of tea vs. free water w/lemon, I'm taking the water every time. This is where restaurants make a lot of their money.

Beer and wine are a different choice altogether.
Seriously! If I can't afford to spend $2.50 for a cup of tea or $1.00 for a root beer with lunch then I can't afford lunch. That being said when I go for my weekly lunch with the guys I often get water not because I'm cheap-ing out but because I don't really like soda/pop and it's useless calories.
Hyperborea is offline   Reply With Quote
Old 04-01-2017, 11:45 AM   #95
Thinks s/he gets paid by the post
Fedup's Avatar
 
Join Date: Mar 2014
Location: Southern Cal
Posts: 4,032
I drink the $3 water like Pelegrino. My kids always order it, so my husband and I decide why should we underspend them. Heck we always foot the bill.
Fedup is offline   Reply With Quote
Old 04-01-2017, 11:49 AM   #96
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
NW-Bound's Avatar
 
Join Date: Jul 2008
Posts: 30,019
When eating out with us, my daughter always orders a cocktail or two. Won't drink wine, so as to share my bottle of wine (my wife does not drink). Markup on any drink is huge, but what can you do? I cannot eat out without drinking.
__________________
"Those Who Can Make You Believe Absurdities Can Make You Commit Atrocities" - Voltaire (1694-1778)
NW-Bound is online now   Reply With Quote
Old 04-01-2017, 11:55 AM   #97
Moderator Emeritus
W2R's Avatar
 
Join Date: Jan 2007
Location: New Orleans
Posts: 45,266
Quote:
Originally Posted by Hyperborea View Post
Some interesting ideas and some that are well over into the cheap side beyond frugal (i.e. water only at a restaurant and no beer or glass of wine with dinner)
Quote:
Originally Posted by Hyperborea View Post
Seriously! If I can't afford to spend $2.50 for a cup of tea or $1.00 for a root beer with lunch then I can't afford lunch. That being said when I go for my weekly lunch with the guys I often get water not because I'm cheap-ing out but because I don't really like soda/pop and it's useless calories.
You absolute and utter cheapskate! (just kidding!)

I feel the same about soft drinks, and don't mind pocketing the extra $2.50 or so from not ordering one. After ordering water for a while, I discovered that nobody gives a flying eff about why I ordered water, except for me. It's not even awkward, it's simply a choice. I choose tap water. And lately, I choose tap water with no ice or lemon because that is how I like it.


When I feel it's a tossup whether I'd prefer water or a diet Coke, I order (you guessed it!) water. I probably order a diet Coke 5% of the time when I eat out, if that. I order water even when eating an expensive steak dinner at a nice restaurant, because water is a very nice, in fact superb beverage to drink with a meal.
__________________
Happily retired since 2009, at age 61.
W2R is offline   Reply With Quote
Old 04-01-2017, 12:06 PM   #98
Thinks s/he gets paid by the post
Hyperborea's Avatar
 
Join Date: Sep 2002
Location: Silicon Valley
Posts: 1,008
Quote:
Originally Posted by W2R View Post
You absolute and utter cheapskate! (just kidding!)
Well, I will add that I do sometimes get a Thai iced coffee at the Thai place (though that is mondo amounts of calories) or a mango lassi at the Indian place or a cup of tea or coffee if it's a cold rainy day. I'll even get a root beer occasionally though that's usually only when we go for pizza or burgers. The price of a drink besides the price of a meal is trivial and it IMNSHO is a non-financial decision. It's alongside the choice of green curry chicken or yellow curry prawns (prawns $1 extra) at the Thai restaurant. It's a matter of what I feel like eating.

Also, my wife and I often split appetizers and desserts and not because of cost but because of portion sizes.
Hyperborea is offline   Reply With Quote
Old 04-01-2017, 12:12 PM   #99
Thinks s/he gets paid by the post
Fedup's Avatar
 
Join Date: Mar 2014
Location: Southern Cal
Posts: 4,032
We order extra veg dishes when we eat out. Like yesterday, I had 2 appetizers, crunchy coconut shrimp and sashimi, and a salad dish to go with my husband fish and chip. Otherwise, he would eat fries and fries. On top of that we had our own fish dish, my daughter and I. So what if we are not frugal.
But we did make up with $1.50 per ice cream scoop from Baskin Robbins. Only on 3/31. We were lucky.
Fedup is offline   Reply With Quote
Old 04-01-2017, 12:41 PM   #100
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
RobbieB's Avatar
 
Join Date: Mar 2016
Location: Central CA
Posts: 6,925
I order up anything I want, I fear no restaurant -
__________________
Retired at 59 in 2014. Should have done it sooner but I worried too much.
RobbieB is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Question for other LBYM'ers W2R Other topics 16 01-26-2008 08:53 PM
LBYM stereotypes Scrooge Other topics 26 07-24-2006 01:03 PM
LBYM: weeHouses vs. McMansions Craig FIRE and Money 28 06-20-2006 08:13 AM
Tricks and Strategies to LBYM in ER education Other topics 58 11-04-2005 07:08 PM
Best ER threads on Saving, LBYM, Motivation & FIRE? My recent faves listed peteyperson Young Dreamers 0 10-05-2005 11:32 AM

» Quick Links

 
All times are GMT -6. The time now is 10:24 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2021, vBulletin Solutions, Inc.