#b90x - DAY 6 - Eliminate Financial Waste Experiment!

b90x

#101

Holy crap…My wife and I spend $200 a month on coffee. That needs to stop. Going to rebrand “budget” as a “spending plan” and see if that gets me further with here. :joy:


#102

Although I don’t spend much, but I can control the weekly spending on outings and eatings.
The above expense for a month can save me a weekly dollar cost averaging amount.

I am not tracking my expenses. And I think it is the high time I should do that. Will start today only. I will use mobile app to track all my expenses and see after this week, what more can I cut from them.


#103

Good Day everyone I just finished watching the stream you did on the Cost Avg LTC! nice job!
There were at few nuggets in there. I was thinking about investing $400-500 a month starting at the end of this month. Bitcoin, ETCUSD, Cardano, ICON

Are there any other coins I am missing? I know there is no perfect way to approach this. But for a beginner. Should I HODL these coins only? If i only have $500 a month should I just invest in one? I know a lot of questions. Any help would be appreciated. Thanks and this site is BOMB!!! Going to the moon in 2018!

Oh and by the way I cut out quite a few things just to note…one being my gym membership so I can workout from home.


#104

Sounds good to me! Stay on top of it! Remember 2017… strong hands.


#105

I spend a lot of money on alcohol. At least $3-500 a month. That’s 4-6,000 a year. It’s stupid. If I put half of that into my cryptos I’d make…a decent chunk of change.


#106

So I actually did this last year as a new years resolution and have saved so much. It has led to a much healthier life style as well.

Eliminated:
Cigarettes
Starbucks/Dunkin Donuts
Eating out and actually cooking own meals ( can’t completely cut this as date night with the wife is important)
Video games ( I still play games to de-stress my self here and there.) But haven’t bought any games in prolly well over a year.

Wish I could eliminate my credit card debt, student loans, and mortgage lol.


#107

Our biggest expense is resale (arbitrage) items and groceries, so i really have to sit down with it and see what can go. i’m sure some of those $5 boxes of cereal and $15 jars of honey and $20 bottles of maple syrup may free up some coin. Eating out gets a little pricey too im sure if i looked at all the numbers. Definitely willing to sit down and lay out the numbers.


#108

Oh yeah, I definitely stay on top of my finances, and know my input/output. This isn’t my first time investing but it is as an independent decision. I’ve been saving money for the last few months for Pilot lessons, which is about a 10k endeavor, and I’m well on my way of reaching that goal, but I’m debating on taking a little out to invest more, but I haven’t decided yet if if going to/waiting for the right time to do so if I do decide. I don’t waste money on unnecessary items for sure. I hardly ever pay full price for anything. I like nice things that maintain value and I like to travel when I can afford to but I have been holding back on that lately as well and just focusing on getting ahead, finishing college, perhaps working on getting my Private Pilots License soon, and living simply today for a better tomorrow. To The Moon! 6/90 :rocket:


#109

I would say eating out at lunch time is the first one that comes to mind. I know money could be saved here. I’ll add some more items to my spreadsheet as I come up with them. Also thinking other monthly expenses… like the house phone… I’m not sure why we even have a home phone, we never use it and all we get are sales calls. I’m sure there are other things that will reveal themselves over time too. Thanks!


#110

I have set aside $500 a month from cutting some recurring payments for services I was not using, such as LinkedIn, cable packages, tablet cellular (I just tether my cell now), etc. I had it redirected to a separate account for Crypto investing. So far I am up 20x from the initial $500 I started with on November 2017 (thanks in part to IOTA, TRX & ADA). I created a google sheet with a tab that allows me to import (copy/paste trade history) directly from the exchange it then pulls in current rates off of coinmarketcap. It then calculates (by coin) holdings, performance against DCA rates, distribution, current value and recommended stop-loss levels for each. It also totals portfolio value and total profit.
I will post it here as soon as I can fix a couple bugs in the DCA calculation. If anyone has a DCA calculator I can integrate, I would really appriciate it!


#111

Starbucks definitely! Making my own coffee now:grinning: Also gym membership… there are lot of alternative workout info available.

Also looking for ways to save on utilities as well.

Peter thanks for the challenge!


#112

well right off the bat I know i spend way too much eating out. Also paying to talk to women online, and car debt.

If i could eliminate those two things, I would be laughing.


#113

I don’t want to keep the minimum balance in my Bank of America checking account because I would rather have the money in crypto, and I am trying to avoid the $17 monthly fee for having my business checking account there. Does anybody else have a bank recommendation with less fees? I would rather have all of my money in crypto via localbitcoins.com purchase and see it grow at least 20% each month than pay fees to have my fiat chill in a checking account and then pay for that service of having checking account/debit card when I could just operate with a Bitpay debit card. Any thoughts or recommendations are appreciated. I also gave up alcohol gradually last year, no more this year :smiley:


#114

need to get back on the home lunch grind


#115

My main expenses: House, Car and credit card.

House, we just purchased a new house last year. I Love it. Unfortunately that payment may not be going away for awhile…

Car, double payments every month since we purchased it brand new. I am $2000 away from paying off. Once that is done, that could free up $400 a month for crypto. But i highly doubt I will put that in there. Maybe half.

Credit card, I was tought at an early age. Never carry a CC balance. So i pay my bill off in full every month. It usually averages $700-$1,000 a month. Between feeding 3 growing kids and 2 hungry dogs, things add… I am sure we can peel back in some areas and get that down a little. But in all honesty, we aren’t the flashy type. We start Xmas shopping in January and hide it all year. We don’t travel. Just the occasional trip to fun n stuff, Chuck E. Cheese or bowling with the kids. And kids sporting events. God as I write this and reflect, I’m getting bored with myself…lol :man_facepalming:t3: We need to start doing more and going places… hahah

In closing, car payment is where it is at… get the car paid off and that will free up a little extra to invest and hopefully :rocket: :new_moon_with_face:.


#116

#1 Wine & beer, not gonna be 100% dry January but want to cut down from drinking wine pretty much every night, to once or twice a week. Will save loads not to mention health benefits!


#117

Food and alcohol - that’s where money goes when there isn’t much self control. I’m tired when I get home from work and it’s too easy to go out to eat instead of cooking and of course I’ll want a $6 craft beer or 2 to go with my overpriced meal. That’s where my focus is now.


#118

Been doing that for quite some time now. No fat left to cut.
Great video. Soooo many people don’t get this. Lots of guys I know making more bank than me but never have $ at the end of the year…


#119

We started down this path about 4 years ago. Each month we can still find places that we can improve… last year we picked up a new car payment… I need to get it paid off this year and back to zero car payments.


#120

I’ve bought so much dumb stuff over the years, but one thing I could definitely try to cut out is diet soda. I drink so much of it. Also I eat out a lot, and I could think ahead and just make stuff at home. But it’s good to think about these little things, now I have a goal and to just put extra money in crypto, hopefully that’ll be okay in the end.