All about being Frugal !

Thank you for that.

I asked, because after reading the post, I was still not sure why you meant.

Similarly, could you please help me understand what you mean when you say:

’I had short, medium & long term time use plans in play.... deliberately to help achieve financial independence'.

 

Happy to.

In short, I periodically asked myself:
1. What can I do this year to improve my circumstances & best leverage my productive time?
2. What do I need to be doing in the next job to get where I want to go & how do I make that happen?
3. How is what I am doing in the short/medium term contributing to my 10-20yr time window & what can I do now to stay the course?

I always, always, think today, tomorrow, future. I applied this thinking to my work time to not just "earn an income" but to deliberately consider how that job/role fitted into a long term strategy. This meant, at times, turning down opportunities that my peers thought was ludicrous, as for me, that opportunity wasn't part of my longterm path.

I'm actually an inherently lazy person. If I don't set myself clear boundaries & goals, I just go on autopilot....to nowhere. I need time discipline as much as financial discipline. For me, the time discipline has generated the most financial return..... I know that is not normal around here but some may be like me & find that managing their time deliberately in the short, medium & long term may pay huge dividends.

 

I'm too frugal to pay for a membership here but if I wasn't I would put that quote as my sig.

 

Your right you know !! LOL
How many people here are too tight to pay for a membership??

 

Well just got back from being out with a friend of mine and managed to save a bit of cash even though I bought a lot.

He is not a saver as such and even earning far more than me has financial problems,much so I lent him $300 to pay his Rent.

He is probaly the classic "Metrosexual? , he has a facial once a week,Suntan clinic,breakfast in a City cafe every morning,Fitness First Gym,brand name T shirts,ebrand name sunglasses,and only buys aftershaves deoderants of the best quality think $100 a bottle or more !!

Must admit I did look out of place with him, scruffy unshaved me.
I think everyone thought I was the homeless guy he was buying breakfast for,

We went down to St Vinnies Op shop which was doing ok for a Sunday , fitted bed sheets pratically new at $3 !! Bargain , better than paying over $20 at Kmart, I will transfer that $17 I saved into my IP mortgage.

 

Yes, but did you actually need any sheets?

 

Hi @Terrychris

Awesome thread! Some great tips which I will certainly use. There are some I probably won't be using though. Toilet paper is a necessity in my house haha.

If you are only earning $900 a week how are you going to service a loan for your IP? Or are you planning on buying an IP outright?

Cheers Mitch

 

With all these hot tips and sound advice in making and saving , I am now in a awkward position with too much money and not enough time to spend it.

I now need a thread started on "how to spend a million $$$ each and every year!"

If your advice is not good enough the problem will get bigger lol

 

Call me.

 

I am saving money by reusing toilet paper, with the fold method there is a whole other side you can use to double your spend. Doesnt work for you scruncher deviants though

 

You can get away using a single sheet:

1. Fold into 1/4 (halves diagonally each way) into a small triangle.
2. Hold on to the tip of the triangle and tear around your fingers (should be a hole around 2 cm diameter)
3. Put this small piece in a safe place for later.
4. Do your business.
5. Place forefinger through the hole in the paper. Clean as you would with your digit
6. Pull paper gently over finger and wipe.
7. With the small piece (saved from earlier and still in a folded triangle), clean under your finger nail.

 

I think I would struggle to be more frugal!

- car cost about $3k.. I do the basic servicing myself. Save $2-3k/year + maybe $5k+ depreciation if I had a newer car. I don't use it much anyhow, would be a waste. If it blows up I drive it to the wrecker and still come out ahead.

- I shop at Aldi.. cost is under $60 most weeks. Coles/Woolies is about $30/more, tried that a few times.

- work provides lunch every day and good bean coffee.. saves a few $k per year.

- Gym, pft! I cycle for my fitness, as well as commuting most days to work. Cost = free. Save maybe a few $k on public transport and petrol. Consumables on the bicycle can add up over the year (do over 8000km a year), but still works out favourably.

- phone is prepaid - $30/wk. I buy a ~$300 phone and have it for 2-3 years. Plans would cost me much more.

- I don't go out much as most of my friends are married with youngish kids so I just spend time at their place rather than big nights (too old for that anyhow now). I don't get much satisfaction from dining at every restaurant in town, etc. However when I do it feels quite satisfying as its not a weekly thing.

- buy beer or wine by the case, works out cheaper.

- I pay myself $250/wk for "disposable fun money" , rest is calculated in a spreadsheet to the dollar for bills and real savings. Doesn't mean I can't lash out and spend another $500 on something fun, but that comes out of savings and is less common. That way I never feel guilty that I spent the money on something I shouldn't have.

I hate stress, and I live a very stress-free life. By having everything calculated well there are no surprises. And I have various funds for things such as my yearly overseas travel fund, so its not like I don't live occasionally.

I used to live in la-la land in terms of money/spending in my 20's, and I really just learned the unplanned nature made me unhappy. (my personality at least)

 

lol, can I watch...should be fun.

 

Another tip is:

Don't buy & read books.

Write & sell them instead (preferably as ebooks)

 

I'm the same I ditched the barber for $35 a month and got the good set of clippers, just the shaved head now .

I changed my phone network from telstra to woolworths and they still use the telstra network which is a win for half the price and double the data. its fine in 90% of areas but I believe they have 2nd priority and doesn't work as well in remote areas of northern Wa where I'm working but still does the job.

Always using compare the market on insurances to find the best deals or using insurance brokers I have saved so much money this way and each year double check don't just keep suing the same insurers.

I'm thankful that my food is all payed for at work (FIFO) but I now hate going home to pay $20+ for bacon and eggs etc

replaced buying coffee to buying a coffee machine

Im also a fan of buying emagazines and kindles to save a few bucks here and there there all about wealth creation, property or money so its tax deductible also

but when it comes to toilet paper that's a must , especially been a plumber I believe human waste should go down the toilet .

 

TC, two things:-

1. Stop drinking the toilet cleaner, and

2. Be careful you don't bump your head whilst you're drinking...

 

TMI and the probable reaction of the next person who uses the shower after your gym session:-

 

If your an RACV member you can buy cheap movie tix about $13 and popcorn drink combos are only $6.80
Sometimes tickets can be cheaper on the Monday/tues and vmc member movies etc.
I only take my kids each school holidays anyway