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 10:51 pm (UTC)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!