68 ways to save a buck
Last week, I told you about the $20,000 mistake we made and how this year we are committing to reviewing our expenses on a weekly basis. Well, we're doing much better this year already. We've reached the end of January, and as a couple, we have officially spent $2,560 this month. Multiply this by 12, we get about $31,000 in spend for the year. Of course, this doesn't include some big ticket items we will need to pay annually like our property taxes (<$3,000), property + car insurance ($1,050 for both), and state taxes (we estimate $1,500, but TBD). We are also likely to spend a bit more given our health and continued home improvement projects...and I wouldn't be surprised if I ended up getting a new pair of skis. But I already feel MUCH better about our forecasted expenditure in 2023. We've been more intentional and much more connected as a couple on this subject. I am excited to see how the next few months go.
So since last month I shared our spending mistakes with you, this month I'm sharing some budgeting ideas.
Introducing the "68 ways to save a buck" resource, helping you find savings in everyday activities
Joe and I implement most of these ideas to help reduce our spend, and many others listed here are tactics used by our savvy, frugal friends.
68 ways to save a buck
Head to our Free Resources page to download your copy
Not every idea in this list will be applicable to you. Not every idea is right for you. But it’s a great place to start. You might be excited by one idea and balk at the next. It’s all good. What matters most is that you know your own situation and what makes you happiest, but be open to challenging yourself as you read through each idea.
Some additional thoughts on budgeting
Joe and I don't sit down each month and create buckets for different expenses. We're more focused on designing a meaningful life, and that means spending with intention. I believe that different people have different goals, and that means spending will look different for all of us. For some of you, you'd be more than happy to live a shoe box. For others, creating a beautiful home brings you the utmost joy. Keeping in mind that we can't have everything, we can focus on say, the top 5 things that bring us happiness, then lean into spending on those things and reduce our spending on the rest.
For example, I care about the following, all of which cost me money:
Experiences with friends and family
Renovating our home in a thoughtful way
Being vegetarian and buying dairy in a humane way
Staying fit and healthy
Donating to effective charities
I care less for:
Having a new car (I'd rather have a reliable one)
High-end skin care (however, I do like sunscreen)
Name brands (Price does not always mean quality)
Having a nice bike (I'd rather have nice skis!)
A large wardrobe (to me, less is more)
So focus on what matters to YOU MOST. With all that said, we can all use some tips and tricks to help us save money. I love the ideas where I get big savings but don't have to change my life style very much. This typically looks like lowering a recurring cost, say car insurance, that you otherwise would barely notice. There's a whole bunch of these ideas and more in this tool.
Have a good savings idea that isn't on the list? Reach out and let us know!
Boost your Wallet. Wellbeing. World.
Disclaimer: The information contained in the Yield & Spread website, course materials and all other related content is provided for informational and educational purposes only. It is not intended to substitute for obtaining accounting, tax, or financial advice, and may not be suitable for every individual. Yield & Spread is not a registered investment, legal or tax advisor or a broker/dealer.