Search Smart Spending:

The best advice for living below your means

Posted Oct 30 2008, 06:14 PM by Karen Datko
Rating:

Sara at On Simplicity simply states what she calls the "cold, hard truth": "Advertising sucks. ... It's engineered to make you feel like you're incomplete, that you have an unfulfilled need, that you're not good enough."

Eluding ubiquitous advertising is one of the "18 means for living below your means" at Marc and Angel Hack Life, a blog that features compilations of valuable tips to deal with life's vexing problems. This particular post draws on some of the blogging world's best thinking on the keystone of financial health.

Once again, Marc and Angel do not disappoint.

For all 18, read the post, which includes:

    • From Frugal Dad: Redefine "rich." "Frugal Dad" remembers keeping a photo of the SUV he wanted to buy in his cubicle at his first job. It was long ago replaced with pictures of his children. He says that "my definition of being rich is having enough money to meet my family's basic needs, a few of our wants, and to be able to give some away to others."

    • From Billionaire Woman: Maybe it's time to find our inner child -- the one who had more fun playing with an empty box than the fancy toy that came with the box. "How is it that children can enjoy themselves without a lot of stuff, but we as adults feel the need to reward ourselves by buying more stuff?"

    • From Simple Mom: Cash is best. "Many bank accounts provide overdraft protection, so even with a debit card, it's easier to go over your account balance than you think."

    Comments

     

    Wise advice!  Great blogs!  I live by #18... NEVER EVER pay retail.

    My best advice is to pack your lunch and take it work.  It feels good to realize that you save $5 per day when you pack your lunch.  Making coffee at home is another way to save a few bucks.  

    When you actually sit down and itemize the money you spend, it's kind of surprising.  A lot of us nickel/dime ourselves to death.

    That's a great list of frugal points.

    "Limit your intake of advertisements':  This is so true! Advertisements try to manipulate us into wanting new stuff, whether we need it or not.  Be strong.  Avoid those glossy magazines especially, because they are really just vehicles to carry advertisements. You can't even find the index of articles in some of them... it's buried in all the ads!

    I agree with Hannah regarding the magazines - there were so many ads in the last magazine that I had bought, I felt that they should be paying me to read it!

    The simplest, and I feel the best way to save, is to simply know what you're spending your money on. Most people don't have any idea. Get a copy of Quicken, Money, or just keep a written log of everything you spend. That's the hardest part. Once you know where your money goes, cutting costs, and saving money is easy.

    I save money by not buying these magazines!!

    Buy a smaller house.  I get sick of reading about retired couple's building a "green" home of 5,600 sq. feet.. Thats not green thats waste of natural resources. Our last home was 520 sq. feet, 2 bedroom for 3 of us (2 parents and a teen).  We often had our daughters friends over for weekends and weeks during the summer. Our "new" home, built in 1946, is 1100 sq. feet and after insulating well and a few more cost effective improvement, we heat with a 35,000 BTU furnace..about 1/3 of the size of a normal furnace for this size home. We have 3 bedrooms, bathroom, big kitchen, big dining room, big living room and a laundry room..isn't that enough?

    Next step, is to keep track of spending on every little thing-they add up quickly. Discuss wants vs needs with your mate and/or your kids.  Buy needs and splurge sometimes with popcorn and a movie. Take walks, visit zoos, visit museums, visit farms, learn a new hobby/ board game or start a small garden. Buy good shoes and forget about clothing fads.

    Then save and save more.  You wll retire someday and you will depend on yourself or government to take care of you, and you can do better than they will.

    The problem many people have is distinguishing between needs and wants.

    You can live quite comfortably satisfying needs, but wants will cost you dearly.

    Interest never sleeps.  Buy only what you have saved for and can pay for including cars.  I've spent over 50 years buying on sale, driving cars until nearly dead (I spend money on maintenance), brown bagging, buying only dollar meals at fast food, using only generic drugs, taking care of things so they will last, and teaching my kids to do the same.  

    BUY A JAPANESE CAR AND A JAPANESE MOTOR CYLCLE TO SAVE FUEL COST

    BURN WOOD FOR HEAT IN THE WINTER, IT'S CHEAP

    Send a Comment

    Comments must be directly related to the blog entry. Comments with offensive language will be deleted. Your e-mail address won't be displayed.

    (please, no HTML tags. Web addresses will be hyperlinked):