08 Jan How To Be A Tight Ass Like Me
This is true and not true.
I couldn’t bear the idea of spending $5000 on a car yet I would have no problem laying down that much on 2 month trip travelling through South America.
It just depends on your priorities. As I write this I’m in Pokhara, Nepal, a city that sits on a huge lake and is a much nicer alternative to Katmandu. But even though this place is cheap to live in or travel I’m still being a tightass with my cash.
Because I have to be. I’m trying to build a blog and other income streams and I only have an infinite amount of money to spend each day and it’s not a huge amount.
But really what it comes down to is, I’m just a minimalist. I like leaving a small footprint if I can and I really like to stretch out every dollar.
- Start saving power. It’s under rated and not enough people do it. Start switching shit off if your not in a room, turn things off at the wall not just the appliance, buy one of those power boards that you can stand on to turn everything off etc. Stop being lazy.
- Stop eating so much crap food. Eat out once a week or less. Yeh I know your saying screw that but in case you hadn’t read the title of this post it’s all about being a tight ass so buckle up ! Actually look at the prices of stuff, compare and work out whether it’s better to buy just a few or buy bulk. Have a budget and stick to it. Period.
- Petrol.Do you really need to drive the 3 minute drive down to the shop ? Add an extra 10 minutes and walk maybe ? We drive these big tanks around and most of the time we’re only carrying ourselves in them, fuel is one of the most least liked things we have to spend money on so why not try to get the burn down. Buy a motorbike or a bicycle and watch your savings and/or health go up.
- Bills.Probably one of the biggest cost of your week is the rent/mortgage, electricity, pay tv if you have it, food, fuel, car registrations, insurance, phone bills and fun money. It adds up. Get rid of everything that is non essential, ring around for better insurance, same goes for phone bills-try prepaid?, go to the cheaper grocery stores, if you don’t want to be seen going to them, wear a disguise. Rent is going to be one of your biggest expenses and also one of the easiest ways to make a big dent in your bills. Find a cheaper place to live or live with several other people. They are really your only options, I’ll assume that most of my readers are not people that are going to move back in with Mum and Dad.Get the weekly burn down and you can thank me later.Fun money I believe is something you gotta have. If you can get it down then do it, but not at the expense of happiness.
- Live below your means.So many people have a hard time with this one. Just because your making $1000 a week doesn’t mean you have to spend up to that limit ! I try to save 50% of my income, I know that’s extreme but it can be done. You just have to be creative, of course the more money you make the easier it is, but not for everyone. Most of the time more income is an invite to spend more.Get of the consuming treadmill. It’s a waste of resources, money and your own sanity.
- Saving money is easier than making money.We can all agree on this one. Making a dollar out of nothing can be extremely hard but saving half of something you’ve already got ? Well that’s a hell of a lot easier to do. So of course you want to be creating income, that’s a huge focus here at The Lifestyle Compound, but bootstrapping your income and being absolutely frugal and only spending on what is necessary is going to be KEY to your success in becoming wealthy.No one that ever MADE it, spent their cash like a rock star on their entrepreneurial journey. They saved and hussled their way to the top. If you want to live like no one else then you have to live like no one else.
- Stop buying unnecessary shit.It seems like a natural thing for people to do, as soon as they’ve got cash in the hand they need to spend it. It can be hard but you need to question everything you buy. Unless it’s to do with health, good food or the absolute minimum you need in life then you need to question needing it. Are you going to be happier after you buy it? I realise there are some nice things that are nice to have but if your struggling already then you are the last one that should be spending! You don’t have to live like this forever (although to me this is normal and I have no problem with it), but if you can be an absolute tight ass for 1 year you will be amazed at the difference in your bank account. And trust me, if you’ve had the self control to do this for a year then you can DEFINITELY keep going and make your self wealthy without even having to build up an asset. Sounds pretty easy to me. Now go start bootstrapping your way to a better future.If you liked this article you might also like this one.If you really want some great tips on living a frugal lifestyle check out this girls cool site on just that.
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