Unwilling economies and motivation

[vass]

I have come to the conclusion that the most frugal thing I could do is to stop drinking diet Coke and put all the money I spend per month on soft drinks into a savings account. I really, really love diet Coke. But I want a savings cushion, and the money has to come from somewhere.

If I give up diet Coke and icecream except for special occasions, I'll save about AUD$120 per month. I have enough tea, both loose leaf and in bags, to last me a long time, because I simply like the diet Coke better, for the caffeine; and for the hydration I can simply drink water.

If I substitute chickpeas (51c for 100g dry even if I don't buy them in bulk, then cooked in the crockpot and then refrigerated or frozen) for my beloved vegetarian hot dogs (on which I spend about $25 a week) I'll save nearly $70 a month.

If I made just these changes and no others, I could have a $1000 cushion in less than half a year.

Or I could be less frugal and just buy soda water instead of Coke, and save $45.30 per month. I'd still get my cushion in less than 7 months. And maybe at the end of that time, I won't want Coke or icecream or vegie hot dogs any more. (It seems unlikely, but people's tastes do change.) Or I could just be happy with my cushion, and go back to my old wasteful ways. Or I could do it half a year every year, and in five years I'd have enough for a term deposit.

I would like some encouragement, please, because I'm very scared.

Comments

[white_aster]

go you! You should try it! If nothing else so you'll know what you really do require and what is just a 'want' (and believe me, I understand how certain foods can be a requirement).

But, if you think it might up your chances of keeping to your plan, maybe you could just cut back on one thing at a time? Cut back on the easiest thing first, to build momentum, then the next month cut back on the next, etc? Sometimes it's easier to do one thing at a time rather than a whole bunch of things that collectively triggers your "privation! starvation! going to die without!" buttons.

[rydra_wong]

*encourages*

If you don't like plain water, it's worth trying things like adding lemon juice. And chickpeas with the right spices can be lovely.

OTOH -- you should also be compassionate to yourself. Giving up two things you really really love that provide you with comfort may not be smart or sustainable; if that's the case, it may be more effective to look for ways to get similar savings by giving up other things which are less essential to you.

[coraa]

Encouragement! I'm trying to do the same, cutting down the number of books I purchase by going to the library twice a month, and whenever I put a book on the reserve list at the library instead of ordering it, I put the money into a savings account.

But I'll echo rydra_wong and say, do remain kind to yourself. You can cut out a lot of indulgences and keep a good quality of life, but it's nice to have one or two things that you treat yourself to. (It's also helpful because being able to say, "This is my treat," can make it easier to stick to your guns about the other stuff you're cutting out.)

[merrily]

Yay, making steps towards savings!

First, and most importantly, having an emergency fund will help you sleep easier at night -- I say take whatever steps you need to help you get it done as quickly as possible. (My life got exponentially easier when I had managed to sock away a few thou in a rainy day fund.)

It'll probably be easiest to make the savings automatic, rather than wait until you've managed to hold off on buying coke & veggie dogs for a week. If you get paid biweekly, and you want to have $1000 in an account in 6 months, set up an automatic $85 deposit per paycheck, figure out what you've got left for food, and work from there.

Re: the very workable places you felt you could save -- remember you don't necessarily need to go cold turkey, particularly if there's a chance that doing so will make you resent your saving plan. I'm not saying this to encourage you to keep drinking Diet Coke -- that shit's bad for you -- but I've got my own vices (*cough*Starbucks Peppermint Mochas*cough) and trying to cut them out completely never works for me. I scale them down, which you could do, too, obv -- if you're currently buying your Diet Coke in single serving sizes, you could switch to litre bottles; you could try the generic versions; you could stock up when it goes on sale.

If you're stronger-willed than I (and jeez, most people are), than go for the cold-turkey move!

In any case, putting together an emergency fund is an excellent idea, and you can absolutely do it. Six months will fly by.

[everysecondtuesday]

It sounds like something awesome to try! When I give up Diet Coke (I do yearly rotations), at first it's really hard, but after a while I really do stop missing it. I'm going to echo everyone else in saying to be kind to yourself and allow yourself at least one thing that you know is your treat, and rydra_wong about adding lemon or lime (I use a couple drops of sweetened lime juice) to add flavor to your water.

[jenett]

Go, you!

I agree with the idea of one thing at a time. Some things that might help, since they helped me when I was getting rid of Diet Coke as my main drink (though not for financial reasons)

- I went through a stage where I bought fizzy water instead - which might not be cheaper, but was better for me (which is why I was trying to get off the diet Coke)

- Water with a little something for flavor helped hugely: a tablespoon of lemon juice, lime juice, or a teaspoon of fruit or apple cider vinegar in 16 ounces of water is a good starting place, and adds a little flavor (also, if you're used to the acidity in soda, it'll help your body adjust.)

- Think about not buying any for home, but allowing yourself to (occasionally) buy a can at work, or when you're out somewhere or whatever else makes sense with your life. This helped me not feel so deprived, but meant I wasn't buying cartons for home, either.

These days I'm down to a can or two a week, when I want the caffeine. (I'm not a coffee or black tea drinker, and sugared soda tastes way too sweet for me.)

[sarasvati]

Think about not buying any for home, but allowing yourself to (occasionally) buy a can at work, or when you're out somewhere or whatever else makes sense with your life. This helped me not feel so deprived, but meant I wasn't buying cartons for home, either.

I did this when I stopped drinking so much cola (mostly for health reasons). I like it, so giving it up cold turkey was difficult, but I decided that I just wouldn't buy any to have around the apartment unless it was some dire emergency, like needing to pull an all-nighter or something. I'll still treat myself to a Coke or Pepsi if I'm eating out, and that's helped a lot, because I'm satisfying a craving without going overboard, and it's helped me to look at colas as treats instead of necessities of life.

[finch]

Thirding the comment about not buying cola for your home. I'll get a soda when I'm out at a movie (discount cup) or certain restaurants, but I almost never have it in the house.. It definitely helped with cutting back.

[sarasvati]

You can do it! It'll be tough at first, and there'll be times you'll backslide, but don't let that discourage you.

If you're into experimentation, I learnt about a neat way to make your own sodas. Takes a little investment at first, but from what I hear, it's a great saving in the long-run and if you find a recipe that tastes similar enough to Coke, you don't even really have to give up the taste you love. Not for everybody, but you may be interested.

[jamethiel]

Go you! I agree with everyone else, flavoured water or tea is the way to go. And you will miss it fiercely at first, but once a week or so has gone by you won't notice it. GO FOR IT!

Do you have a savings account set up? I can recommend Ubank as they give the highest interest currently, but ING are pretty good. Just make sure you can't get at it easily. And take your reactions into account--I do better when I transfer the money out at the beginning of the paycycle, so I can't spend it but that makes other people really anxious and they find it harder to refrain if they can't do something, so try both ways and see what works for you.

Also, you can open a term deposit with $1000. it's pretty awesome!

[beatrice_otter]

The thing people don't understand about willpower is that it's kind of like a muscle. You have to exercise it. I think you've got a great idea, but you may have trouble putting it into practice. If you find yourself having trouble, give yourself permission to be slightly indulgent--say, one coke and hot dog a week.

[red_trillium]

How about instead of a complete cut off, reduce it? Instead of not buying diet Coke & veggie hotdogs at all, allocate yourself say 1/2 your usual budget to wean yourself off. Put the other 1/2 immediately into a savings account so you can't be tempted to spend it on anything else.

Once your savings starts to grow that might be the encouragement you need to give them up completely. Or to cut it back to 1/4 what you eat/drink now. You need to be kind to yourself, to realise your mind will rebel and you'll have down days where you just want a Coke or veggiedog. That's ok and that's why I'd say try to cut back instead of completely cutting out.

Good luck!

[exhausted_pigeon]

I don't think I could do that cold turkey so instead, I have a coin purse that I put $20 in at the start of the week. And that's it - when I want to buy snacks and coffee, it comes out of that.

[juliet]

And maybe at the end of that time, I won't want Coke or icecream or vegie hot dogs any more. (It seems unlikely, but people's tastes do change.)

FWIW, I used to drink a lot of apple juice throughout my childhood and early adulthood. I had to stop drinking it as "normal beverage" in my early 20s due to being broke, and instead allowed myself a bottle a week, and eked it out by diluting it. Within reasonably short order I stopped liking it neat pretty much at all (I'll drink it neat once in a blue moon when I want the sugar). I was *very* surprised. So, yeah, your tastes can change.

Could you investigate making your own veggie-burgers/sausages to replace the veggie hot dogs? What space are they filling in your culinary life, as it were? (As a vegan I am used to the idea of finding things to replace the *feeling* of a particular food, e.g. Marmite for blue cheese :) ).

Seconding others' advice to be kind to yourself and maybe take this a bit at a time.