How we can save money, to have more time-reserve? (1.0)
This article is from the book “Meditation and the book of Time and Life Management (version 1.0) -by Norbert Szentkereszti (2015)” (To read the whole book online visit book1.vr2b1.org or subscribe here and get the pdf edition for free.)
In the followings you can read my list about ideas that can help you see the areas where you can reduce your expenses to be able to get out of debt and/or to have more time-reserve and with that more peace of mind. So I’m not telling you that you should not buy anything that I listed in the followings, and additionally that you have to follow this list no matter what (although in that way you would surely save the most possible amount of money and time), in fact you can continue your life the way you live now, but if sometimes you wonder why is it that you don’t have money although you work hard and you earn a lot, you might want to consider taking a look again on this list. So the list goes like this:
- Regularly (daily) eating chips, Chocolate bars, Sweeties, Pralines, Ice-creams, yoghurts, Cola like products, Beers, Newly advertised tastes, especially with famous names, even if they are relatively inexpensive (when we buy them one at a time and only sometimes) they could costs us large amount of money on a monthly basis (especially if we allow more from the different categories a day). Usually famous foods are expensive because we have to pay for advertising costs, and not because there’s much value in them. (Sometimes they are even made in the same factory using the same technology that is used by the cheaper ones…)
- Don’t smoke, don’t drink alcohol, don’t drug yourself and reduce your coffee and tea consumption if they contain caffeine. Those substances are not good for your body, and since all of them can create addictions (which will costs you money) it is not recommended to get dependent on them. (On the other hand since Caffeine has the side effect of increasing blood pressure, it might be used as a medication if you have too low blood pressure (but before you consider this idea please consult with your doctors about the topic since I’m not a medical expert and I’m not using these substances…)
- Go shopping only once (and occasionally twice) a week -it might be not about saving more money, but rather saving time. You save on travelling time, you save on standing in lines and if you would use your car you also save on fuel… (You can buy even bread that will last for a week, but you can cook rice or potato as a substitute) so going more shopping just to by bread is also not a good excuse). Additionally if you tend to spoil yourself with buying something sweet or interesting while you are shopping, that you will also do less, thus you can increase your savings more…
- Buy quality but not expensive foods and cleaning substances (and if possible choose the environment-friendly ones -which are sometimes more expensive, but in that case the question how much do you value an environment (if you can afford it naturally)…). There are many not well advertised foods that have great quality, and they are usually cheaper because they don’t have to include advertising costs in the price. Look for and select rather those products and increase the amount you can put aside in every single month.
- Sometimes some of your favorite products are always cheaper in one particular shop. If it is important for you to get those favorite products of yours and you know where you can get them cheaper go there -however visiting different shops will cost you time (if you don’t view the journey as a walking exercise…) (and it can cost you money if you travel with a car). Usually buying products by petrol stations and from food automates are more expensive than in regular shops, therefore doing it habitually is not recommended. Rather take some water and food with you, and use the money you saved for something useful.
- Eat out less and reduce your junk consumption. You save some times, and eating out sometimes is good for socializing, but if you do it regularly you can reduce your money significantly. When eating out don’t select the most expensive foods (especially when you do that habitually and buy an average product.)
- If you use less ready made food products you might save money, but you pay with your time. On the other hand if you like to cook you will save money while having fun (and that’s a worthy experience). Additionally you can save time by cooking for more days or if you eat more cold food. (When possible use less microwave because it destroys water molecules in the process -and those damaged crystal molecules looks pretty ugly.)
- Don’t buy famous drinks that are water, sugar and flavors -rather buy 100% fruit juices and give some water to it while drinking, or simply drink tap water with syrup -it will be cheaper.
- Leave bottled mineral waters alone: Usually the tap water is almost always drinkable (and probably you use it to make your tea and to prepare and cook your food anyway.) -If you have concerns with the quality of your tap water buy a filter. On the long run it will cost less -and you also do better to the environment (because it is made by using less material and requires less transportation, which would pour only more toxins in the air).
- Probably the least expensive way of covering your calorie intake would be eating bread all the time, but it is not recommended. Even if you could save lots of money by doing so, you should never forget that you cannot cover all your vitamin and mineral intakes only from that food source -which can lead to health issues on the long run. The same goes for covering your calorie intake from chips and Cola -even though you could cover your calorie intake -that would be unhealthy…
- Rather less buy than best buy: Many people spend their free time looking for best buys offers, and they sometimes manage to find good offers, but they only waste their time in the process. The problem is that usually those offers are for overly priced products, and featuring the “buy more pay less” offers. So with these offers you might get a beer for half a price on the other hand you might drink more from it because it was cheap, and you have 20 box full of beer in your kitchen, so what can you do (if you need a place in the kitchen)? If you usually drink one beer maybe you will drink 2 or more (in some of your weakest moment 10-20) thanks for the offer, so in reality you did not save anything, or you rather lost if you drink more and especially if you start buying that product because you found it better. Additionally you should rather buy quality cheap products than products that even in best buy costs more. With this method you will save the time looking for those best-buy offers, and if you stop looking for those papers you will never know about additional offers for additional expensive products (especially for products that you would never think of buying), thus you can save again by missing those offers.
- Don’t be overweighed – If you are overweighed your chances for different illnesses increase, which means more expense. You might also have some confidence issues while dealing with people and if you cannot maintain your weigh you need to buy more clothes, which means extra costs.
- Don’t buy pointless entertainment productsg.: TV or DVD player like products, HI-FI equipments -a good computer with a matte (! healthier) screen is always a better choice. If you use your computer only for word processing even a 10 years old machine would do (if it is not connected to the net) -so you don’t need the most expensive ones.
- If you have already many clothes and shoes consider not buying that additional one. You will save a lot.
- Prefer darker colored clothes and devices (but especially devices) -they better stand the color change in fashion (The problem with dark clothes that they need special care otherwise they get easily pale). I’m not saying never buy a funny colored cloth but buy more darker ones (which is not necessarily black).
- Don’t pay an extra cost for a tick on a T-shirt, on the other hand buy quality t-shirts and especially quality and comfortable shoes. (High healed and tipped shoes can damage and deform your feet on the long run…)
- Buy less or no jewellery (even if you could afford a $ 300.000 worth ring or necklace, you rather buy a $ 300 worth and give the rest to organizations that help humans and animals… -usually no-one would notice the difference… (Not even you and the person who get the present (except if he/she checks the quality by an expert. On the other hand if they get angry because it was not expensive you should rather considering leaving those people out of your life, because they are usually there with you because of your money.)…
- Never take up a loan to buy luxurious items (e.g.: an expensive mobile phone, laptop, rings…) and have a small wedding, if wedding is important for you. The only acceptable reason for loan is to buy devices that you need for your work and which reduce your work and the other acceptable reason is to buy a house (and sometimes a car). You might take up a loan to get a degree, but if you don’t really know what to study you better work something till you figure it out what you really want to do -and reduce your need for loans later.
- Don’t be a gambler –You might win sometimes but if you are in an unlucky period you might even loose your house and/or ruin your relationships. Sometimes playing with Lotto is acceptable, but I think it is pointless to buy more than 1 at a time…
- Having positive balance enables you to invest in products (with long expiration dates) that you use and you can get them half a price with certain special offers -(you can catch such best buy offers even if not studying throwaways, just by simply doing your regular shopping…) -and the positive balance gives you the highest return of your investment.
- Don’t travel to exotic places and especially if you’ve been many times abroad maybe it’s time to have a break and remain home -If you plan a family holiday abroad rather do some of the activities that you would do in abroad where you live (so go to a restaurant, go playing darts or go-karts… whatever…). If you’ve never been abroad give it a try, but if you travel with people who are not sympathetic you might not enjoy the whole trip. Rather be with someone who you love, (and he/she can be your pet), and enjoy your time together while not wasting your money on expensive hotels and bars, just to be able to tell to not-important people that you were somewhere far away (which you didn’t even enjoy).
- Give back your newspaper and TV subscription and pay for the least amount for net usage. Usually on the net you can get all those stupid news about wars, accidents, and politic, so if you have access to the net, don’t waste your money on those papers…
- Reduce the days when you wear makeup, and by accepting your hair color you will save on dye.
- By shaving less you will save on the blades and on the aftershave and also you save time on a daily basis -and if you shave less your hair grow slower.
- If car is not necessary in your life use public transport and don’t buy a car. Car costs you money, and to be able to afford a car you pay with your time. Initially you used your time-reserve to get the car, and you work to be able to pay for maintenance, fuel, parking, garage and insurance. Yes you might gain a few minutes a day and you might be able to spend more time at home, but if you use that time to watch TV it was not a good investment. Without a car you might be able to save a 100-200 dollar a months and you also saved your initial purchasing costs. Additionally you can spend hours in the traffic so your goal to save time with a car might not be that realistic.
- If you are healthier you will have to pay later less on medicines. Additionally if you clean your teeth regularly, you will have smaller dental expenses, and you will not need to buy expensive prosthesis in later years -But in reality now that I think about it if we don’t have teeth we can save on cleaning products… -but still even if it is logical might not be the best idea for most of us… especially if we don’t get a job because our smile is breezy without whiteness…)
- Have a smaller car, if car is really a necessity -e.g.: because of your job (You would also reduce your impact on the environment by switching to a smaller car since usually bigger and faster cars have more fuel consumption thus in reality it would costs you more, and additionally probably you have to pay more for insurance… -And don’t forget that you can always rent a car, use a taxi or if you lucky one of your friends can also help you out (naturally covering their expenses and time) if you have something big you want to transport and also if you don’t have a car…)
- Have a smaller house (especially if you could reduce the loan you have to take). Naturally while buying or renting a house you have to think about distances to your working place and thus a cheaper house 20 miles away, where you need to have a car could cost you more than a more expensive one which is in the town…
- Always consider that if you rent a house it will be never yours. Sometimes you would pay the same interest rate or a little bit more on your house that you are indebted for compared to what renting would cost. In that case indebting yourself for a house might be actually a good option (especially if you don’t have to move from one house to an other, because of your job constantly changing job assignments). (On the other hand please also consider that monthly installments are not equal to the interest rate! Monthly installments also contains amount that will reduce your overall debt (and if you sell your house on the same amount you purchased that money that you paid to reduce your overall debt will be actually yours). So the question is whether you can pay the monthly installments or only the interest rate without financial difficulties. (So if you have a loan for 100.000 and the installment on that amount on 3.6% interest rate is 3.600/year -in a month you would pay 300 on installments, but that would not reduce the initial 100.000. You have to pay 5.000 a year (or 416.6/month) to reduce 100.000 to zero in 20 years (20×5.000=100.000). Your overall monthly expenditure is 300+416.6=716.6. Paying 716.6 for 20 years ensures that you will have a house worth 100.000. But if you pay 600/month for renting a house you will never have a house. Additionally if you decide to sell your house after 10 years and you get 100.000, since in 10 years you reduced your debt for 50.000 you will have 50.000 own money.)
- If you have a garden plant some fruit tree -that’s also a great investment -although you have to work in your garden sometimes. (Bio production will require more of your time…) But this is actually a great exercise especially if you’re doing it with friends, while saving on buying fruits.
Naturally dependent on the people we are surrounded with, we could have some quality expensive products (especially that will last and serve us for at least a few years) and we could even follow somewhat expensive customs just to avoid being ostracized, but on the other hand, have rather friends who don’t waste their money on luxury…
We might want to consider that if we are more dependent on different products, if our confidence is based on the products we use, we are more dependent on the system, and if the system collapse or if our favorite product is not available or becomes too expensive our inner confidence will shatter. Being more dependent on products and trademarks also means that we can save less, thus we have less time reserve, which can lead to serious problems if we loose our job.
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