Living well on less. It can be done. I don’t think you actually have to be a cheapskate to do it though. Jeff Yeager, The ultimate cheapskate has tips for living on less that will save you $20,000 a year. Sounds great but some things you may not want to give up. A cell phone, dining out and sending your kid to college are things Yeager says people should give up.
And they are — let me say in advance — these are some fairly radical changes.
But, again, it’s probably not about sacrifice.
It’s about changing your life and maybe in the end being happier.
Does everyone want to make these radical changes? While it may be necessary to make some radical changes as Yeager advises, going cold turkey may not be the way. Slowly but surely or prioritizing what you really need or want in your life works just as well.
Sure you can save money by not eating out and always cooking at home, but going on for a special occasion is always fun and make the occasion really special. A cell phone is a necessity for many people for work, so cutting that out may not work for everyone. Dining out once a month at a nice place for book club is a social event and I have a great time, I don’t want to cut that from my budget but I have been cooking at home more often, which does save me a lot of money.
Priorities differ depending on your marital and familial status. Do what is right for you – when I make a decision to go to dinner and my other bills (including savings) are paid, then I can splurge a bit. I would make different choices if I had people depending on my salary.
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