#b90x - DAY 6 - Eliminate Financial Waste Experiment!

b90x

#181

lol i just added up the stuff i buy while at work. 2 mountain due amps a day. 7 dollar lunches, when I’ve got food at home. pop at work. and Hawaiian punch at home. then all the food i order at home instead of cooking what I’ve got. that is around $260 at work and another $250 at home per month. My god I’ve got more to invest after this week. I never thought about this like that ever wow. thanks Peter.


#182

Good good. Every bit helps. Plus that shit isn’t worth putting in your body!


#183

thank you for this. I’ve been watching your you tube channel for 2 months now. I’ve used a lot of ideas you have shared there. I’m very grateful for all you and your crew have done. i dove in about 3 weeks ago, after 4 months of research. you and a few others helped me understand all of this and how it can change the world with innovative tech. I’m a mechanic and i have very little knowledge about this world. you have changed my life by opening my eyes to this. and that everything mines monero lol. thank you for your time and i look forward to learning more with you.


#184

Glad you’re here! Did you introduce yourself in the Pub?


#185

Ok,

Day 6 - successfully rented out my flat. So this is all good. Its been a bit of a headache to get it sorted and my wife has been fantastic. All good news.

Started a new job too. Means I have less time to trade however, looking at more steady investments and building up a crypto portfolio.

I have also collected all of my other assets which are some. Looking at what to do with them.

I will work out a small spreadsheet in what I am able to save further.

Cheers.

Crash101


#186

I have cut out most wasteful things by this point but it is time to stop relying on buying lunch out of convince and stop being lazy. Bringing back meal prep Sundays to save me from spending about 8$ on lunches and save 4-6$ a day packing. That means an extra $20-30 a week to DCA into ADA!


#187

I feel like my entire life has been spent economizing and living frugally, and I am still in the same boat. I must be doing something wrong. I suspect the trick is to actually take the money that you would have spent and stop yourself from spending it on other things. There are so many financial costs that spring up and need to be covered, so my little pot of money normally gets eaten into. Then all the economizing comes with zero benefits. From now on I plan to put better ringfences around the money i am saving to prevent me from using it for other things.


#188

I spend a decent amount on eating out. I blame it on not having time, or simply just not wanting to cook. If I took this expenditure out, I could save 10-20 dollars per day, 70-140 per week, 280-560 per month, and 3,360-6,720 per year.

Tons of gains to be made if I used that money in crypto instead.


#189

I’m going to quit smoking and I sold the car for years :smile:


#190

Holy freakin cow! I just checked out your DCA on Litecoin peter. cutting out starbucks. Putting it down on a chart and actually seeing what could happen by cutting out waste. blows my mind! I have many things I can do to eliminate waste and on my way to financial freedom. So Simple, but yet were so programmed to spend on things we dont really need. What an eye opener. thanks bro!


#191

Day 6,
First let me start off with a Thank You to Peta, John and the team for being there for us.

HABITS NEED TO CHANGE WITHIN SO FINANCIAL CHANGES CAN GROW.

Here’s what I mean, every day we have a pattern, what Peter is asking is to to take a conscious inventory of your spending patterns.

My wife is great with “Couponing”, I used to think it was beneath me, last year my wife calculated how much she saved in the year, $11,383.29 saved.

Couponing is now part of my daily life, I coupon at fast foods, restaurants, car washes, groceries etc… everything and everywhere a coupon is excepted.

When I go to work, I take my own lunch, no more eating out, but when I do eat out, it’s a midweek date night for me and the wife and yes, we coupon.

Peter, I still do Starbucks, but for me it’s FREE, my wife gains point by binging on Bing.

There’s many ways to still enjoy life on a budget, COUPONING.

Hope this helps
Much respect to the crypto nation


#192

After doing the math, it has come to my attention that I need to stop eating out. When I eat out for lunch, I end up throwing the food I bring from home, meaning that I spend money on a restaurant and throw money in the trash. This week I will be changing that. I will be using the money that I would have spent during the week and use it for crypto.


#193

I was sad to not renew my Disneyland annual pass, but that’s $75 a month I’ll be saving! Also, Starbucks will have to hold off and I’ll just deal with the coffee provided at my work.

You are right, though… each of these pennies, dollars and $X will make a world of a difference. My finances drive me nuts and I still need to do my taxes, so this could be interesting… LOL

Let’s put our best step forward and scrape those cents and invest to go to the MOON!


#194

Financial Waste:

  • Fast Food
  • ‘Fast’ Coffee :expressionless:
  • Useless membership cards

Financial Re-Usable Waste:

  • Selling unnecessary stuff
  • Automatize routines to eliminate dead time

What really saves me a lot of time (and in the long run money) is listening to podcasts. You can listen to them while doing housework or commuting. The best part is: You learn something new everyday, so it’s like an investment in your human capital.


#195

I’ve gone from fancy take away coffees to instant coffee. It saves time and money.
I’ll be shopping around to find cheaper insurers for the house, car, etc.
When the mobile phone contract comes to expiry, i’ll shop around for a cheaper phone. I always wanted the best and most flashy phone out there, but i’ve realised, i really only use my phone for internet, messaging and phone calls and really, any phone can do that well enough.
There’s definitely a lot of money that you throw around without realising it.
Its crazy to think that its the little spends that get you the most gains. Happens in crypto with DCA as well as in life in general where businesses hook you in with little spends that you don’t notice but really rack up over time.
Will definitely keep thinking about cost cutting.


#196

Eating out is the activity that sucks a ton of money out of my wallet. That and cable. I intend on eliminating cable and reducing my meals out of house to maybe once a week or twice. Time to focus on GOALS. :raised_hands:t3:


#197

So we are already working on this for the purposes of getting dept free as well. What we have cut out:

  • Going out to eat
  • Starbucks or (5 bucks as we call it)
  • we started meal planning
  • eliminated Netflix/Cable

We have also employed and app called Digit that connects to your bank account and runs an algorithm that monitors your balance/intake/spending and then takes a little here and there out of your account and saves it in your digit account. We have been able to have an extra $300 - $500 a month.

I am a strong proponent in budgeting every dollar and telling it what to do on paper so sometimes using digit can seem counter intuitive to that. What I have found is that we usually have about $500 in our budget that would go toward one of our categories and we don’t end up spending all of it or any of it that month and what happens psychologically when you have extra in one pile is that you become a little lax about the other categories and you start to over spend in those categories because you know you have a catiegory you can freely pull from. So digit has helped my wife and I not be tempted to do that because we know digit is pulling that extra money aside for us and we have an intentional purpose for it.

Most people will feel like they have received a raise when they do a good budget.

Cheers y’all,
Luke


#198

On it! Ery dolla! Tracking monthly budget and annual budget! Eliminated alcohol, nights out, 95% of restaurants, buuut I’m gonna have to keep that budget line for TheBitcoin.Pub


#199

Ok, there will be some stuff to write down…


#200

My splurge is BOA’s cafe and the vending machine getting monsters. :slight_smile: I believe I can eliminate by bringing a lunch. It was interesting looking at your DCA Litecoin sheet again. Notice the ramp up the end of April/Early May — HODL :slight_smile: