Unwilling economies and motivation
Apr. 24th, 2010 03:21 am![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
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actyourwageI 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.
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.
(no subject)
Date: 2010-04-23 06:27 pm (UTC)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.