Saving money
I like to think I’m pretty good at saving money. In fact for the last few months its all I really have been doing.
The blog Early Retirement Extreme reckons that its possible for you to save around 80% of your wage and I have probably been doing that.
Here is how:
I stopped the nights out: its been almost 3 weeks since I hit the clubs (previously a weekly occurance) and its incredible how much alcohol costs you (Especially in Aust where the taxes on it are incredible). For entertainment (In the little time I have where I don’t work) I program on my computer, chill with mates, read. write (been doing electronics kits of recent). In general things that are free or very cheap so my weekly expesnses for entertainment is usually <$20. The only downside is that it is mostly solo activities and I haven’t been incredibly social.
Rent I have paid all in advance, there is no real advantage to this except possibly the mindset of being a saver (Saving to pay rent) rather than rent being a cost.
Food is really cheap, my brother and I cook up a heap of containers for food (Which turn out to be $3 a container) which gets taken to work. Breakfast is Oats which cost nothing, and the occasional cook for people coming around. I eat like a king and it costs very little.
Phone/Internet, I previously had been paying $30 a month for a prepaid mobile but recently I upgraded it to $50 a month so that I could have a heap of internet to tether.
Petrol: really the only big cost I face and there is nothing I can do about it. I have to drive to work so petrol is a cost associated with being able to work.
What ends up happening is that after petrol I usually spend 50-100 dollars a week. The rest gets saved.
Its a pretty boring lifestyle I’ll admit, but there will be plenty of time for excitement and fun when I get into travelling mode (less than 5 months away)
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The mindset that every dollar I save will be a dollar I get to spend in the US/Europe helps a lot
Strikee 