Cost Effective Living Tips (Mr. Money Mustache & other how to save money tipsC)

[Tiduwho]

After doing a ton of reading, I thought this deserved its own thread. After being skeptical at first, I am almost ready to become a vocal advocate for the way this guy espouses life:

Save, save, stop spending like an idiot, and adjust your thinking out of the "consumer spend spend" mode.

It wasn't until this guy and website were recently featured on Marketwatch.com (How to retire early...35 years early) that I started pouring through the site.


So in addition to The Credit Thread and the Investments Thread, I'm starting a Cost Effective Living Thread. Basically, a place where we can talk about real actual ways to save money, without sacrificing enjoyable living.

[JRS1386]

Get internet only don't buy cable. You can watch everything online nowadays and with the addition of Netflix, you aren't missing out much at all.

[Tiduwho]

As for the actual site, for anyone that hasn't heard of it, the selling point gist is that the guy and his wife retired at age 30. They both previously made $100k+, and during their 20s saved like crazy to the point where they hit 25x their annual spending...and retired. Now they live freely on freelance work, running this website, and spend the rest of their time with friends and family. Whatever your thoughts on all that, who knows, but what I can tell you is that I'm already learning about cost effective life tips in areas that I've just never taken the time to research.

So take the time to research. You can save yourself a lot of $$ and hassle.

[Tiduwho]

Two useful things I've already picked up on:

1.) Phone plans - Sprint is now costing me $90/mo. Why? Because BS and things. This article introduced me to Republic Wireless and more importantly, Ting. With Ting, I will be able to switch over fairly easily from Sprint and drop my phone bill to around $40/mo. The way they price your monthly monthly bill ENTIRELY on your phone usage is a Godsend. And being a Sprint user, it uses the exact same network as Sprint, and you can bring your phone right over and convert, keep your same number, and you're all good. They support Galaxy S4 and most every phone available other than iphone and blackberry (again, not perfect because they don't support everything, but if you are a Sprint and Samsung user like me, it is a perfect switch).

For some people (with frequent Wi-Fi access), Republic Wireless offers a $5/mo phone plan for sole wi-fi usage, and $20/mo for 3g, and more for 4g. The drawback with RW is that they don't have the wide ranging phone selection.

[Tiduwho]

And second:

2.) Groceries - We all spend way too damn much, but why? Because of WHAT we're eating. I've done a fair share of food buying diet plans in the past when working out. However, there are tons of very cost effective, high calorie foods that are inexpensive, natural, and will fill you up. But at the fraction of the cost of "brand foods". And I don't simply mean save money by buying generic, everyone says that already. I mean look at what you're actually eating, and start eating inexpensive foods that fill you up. There are tons of $$ to be saved. Like rice, black beans, natural peanut butter, potatoes, and especially canola or if you're a high roller, olive oil.

The key is to NOT think about the price tag. Organic natural peanut butter costs more than Skippy. Think about how it FILLS YOU UP. It's about cost per calorie.

[Tiduwho]

Originally Posted by JRS1386

Get internet only don't buy cable. You can watch everything online nowadays and with the addition of Netflix, you aren't missing out much at all.

This x1000. Cable is getting more and more comical in their prices, and the concept of buying entire packages is becoming dated.

I understand the reason they do it. But there are so many channels on cable that you never watch yet have to pay for.


Stop wasting your time clicking. Just go to the internet and hook your computer up to the big screen via USB. Use Hulu or the other wide range of options and watch the shows you actually WANT to watch, most for free!

[JRS1386]

Groceries is a great point. Also, eat out less and eat each meal. When you eat right you spend less on junk food because you have less cravings for other things. When you cook at home your cost per meal is exponentially less and you get a lot more out of your food.

[Tiduwho]

Exactly JRS.


Here's a site I've been preaching in the Credit thread for some time: www.mint.com


This is a site that allows you to link all of your savings accounts, loans, credit cards, investment account, all in one place. It's a great one stop shop to get all of your balances at once. However, I've never taken full advantage of it until reading an MMM article on it. While the budget thing is great and all, the real helpful tool is the "Trends". With it, you can track your spending in every area, across every account and card.

So for example, during 2012 I knew that I was going out to eat with coworkers almost every day for lunch. In 2013, I started bringing lunch to work. I never knew the full benefit until now.

2012: I spent $3,894 on Food and Dining.
2013: I spent $1,872 on Food and Dining.

Now I can drill down further, and compare restaurants vs groceries and things too. But just LOOK at that. I saved $2000 mostly by bringing my lunch to work every day. This is just one of MANY spending comparisons you can track using Mint. I highly recommend it.

[JRS1386]

Also, don't sign up for a gym membership unless you plan on going (I've personally wasted probably $500+ on gym memberships that I didn't fully use). This also rings true for any subscription based product.

Something I've been doing recently is that the day before I get paid I take whatever I have in my checking and put it in savings. I only get paid once a month so this helps me try my best to spend my money more wisely.

[ExistenceNow]

I might would ditch cable (DirecTV) if not for sports.

You can torrent everything after the fact, but there's no great way to watch sports live.

[ExistenceNow]

Originally Posted by JRS1386

Also, don't sign up for a gym membership unless you plan on going (I've personally wasted probably $500+ on gym memberships that I didn't fully use). This also rings true for any subscription based product.

Something I've been doing recently is that the day before I get paid I take whatever I have in my checking and put it in savings. I only get paid once a month so this helps me try my best to spend my money more wisely.

Don't sign up for a gym membership, period. You don't need a gym to get in shape.


Running is free. Pushups are free. Diet planning is free.

[JRS1386]

Originally Posted by ExistenceNow

Don't sign up for a gym membership, period. You don't need a gym to get in shape.


Running is free. Pushups are free. Diet planning is free.

True I was going to mention this, but for some who lift routinely it's not as much of a waste. Also with sports you can get bunny ears and pick up the basic channels and stream the rest on first row sports

[mcwyffe]

I feel like I am in an infomercial

[Tiduwho]

Originally Posted by mcwyffe

I feel like I am in an infomercial

I was trying not to go that way

I don't care about the site in here as much as discussing ways to save money.

[JRS1386]

Drink more water, whether it be at restaurants or at home. Buy powder mixes if you want flavor, much cheaper than the already mixed crap thats no better.

[cruscott35]

Originally Posted by ExistenceNow

I might would ditch cable (DirecTV) if not for sports.

You can torrent everything after the fact, but there's no great way to watch sports live.

Plenty of sites out there to watch on.

[Proudest_Raider]

Give me a site where I can watch HD college football and other major sports events and I'll drop my cable package. It's the only thing keeping me holding on to the insane prices. Firstrow is subpar quality at best.

[chadizzy1]

Groceries is a big one. The more you cook and the less you eat out, the more you can save.

Also, remembering to turn lights off is a big one, most people don't pay attention to that.

Living by a budget is crucial. Every penny I spend is budgeted into different areas of finance. For example, I budget 500$ a month for groceries for our family. Once we hit 500$, we do not go a penny over. Knowing your limits and living within those limits is crucial.

[Kevaroo]

Originally Posted by ExistenceNow

Don't sign up for a gym membership, period. You don't need a gym to get in shape.


Running is free. Pushups are free. Diet planning is free.

Great thread, I am happy to say I have started practicing many of these things.

To add to this statement YouTube has tons of workout videos as well.

I got rid of cable as well. Split streaming Netflix with a friend (you can use 3 devices at a tine), and Amazon Prime with my parents. Firstrowsports.eu gives me ESPN and every sporting event live, including UFC and the package (you have to X out a few pop ups but pretty much hassle free.

In addition to groceries, buy in bulk and from multiple stores. We get most of our stuff at Costco (gas is cheaper there as well) but check Publix and Winn-Dixie for great buy 1 get ones.

Looking forward to hearing some of everyone's ideas and strategies.

[Kevaroo]

Originally Posted by Proudest_Raider

Give me a site where I can watch HD college football and other major sports events and I'll drop my cable package. It's the only thing keeping me holding on to the insane prices. Firstrow is subpar quality at best.

It may be my laptop and or Internet but I get some really solid streams on there. I don't maximize the screen but plug it into the tv, crystal clear.

[Jake]

Originally Posted by Kevaroo

Great thread, I am happy to say I have started practicing many of these things.

To add to this statement YouTube has tons of workout videos as well.

I got rid of cable as well. Split streaming Netflix with a friend (you can use 3 devices at a tine), and Amazon Prime with my parents. Firstrowsports.eu gives me ESPN and every sporting event live, including UFC and the package (you have to X out a few pop ups but pretty much hassle free.

In addition to groceries, buy in bulk and from multiple stores. We get most of our stuff at Costco (gas is cheaper there as well) but check Publix and Winn-Dixie for great buy 1 get ones.

Looking forward to hearing some of everyone's ideas and strategies.

BOGO is the way to go.


I'm on a big get out of debt completely kick, and our biggest savings is food; I can cook pretty much anything and make practically everything from scratch. Only eating out expense is Chick Fil A because... well, it's Chick Fil A. Everything we eat is with a coupon or BOGO.

[comeandsee41]

great thread.

i might be a bit late, but hitting the age now where im starting to think about finances, savings, investing, etc... so this is good stuff.

while passing on cable is ideal, and something i debate every day as im moving into a new apartment next week, most cable providers make it much more cost efficient to bundle cable and internet (hell, even phone). so buying internet alone isnt always the smartest move financially speaking.

like most, sports is the ONLY thing keeping me from getting cable. still havent found the best options online to supplement that.

and btw...its easy to retire at 30 when you made $100k/year...but how many people do??

[justinandimcool]

Originally Posted by ExistenceNow

Don't sign up for a gym membership, period. You don't need a gym to get in shape.


Running is free. Pushups are free. Diet planning is free.

Depends on your goals. Absolutely nothing happened to me in the year I was without a membership. Finally decided to join up, am now able to lift heavy stuff again for isolation (nothing replaces squats or a good back workout tbh), practice 500 jumpshots every time I go, and the weight is falling off.

[Balor3012]

The first part of the thread title showed up on the forum homepage and I thought this was a jdmsu thread

[justinandimcool]

My contribution to this thread is driving. I commute every day so it's tough on the wallet. However, try to drive as smoothly as possible. Don't accelerate right way, brake as little as possible when cruising, keep your average RPM down, speed less. I now fill up once every 17-20 days rather than once every 9-12 days. By the end of the year that saves me a good $200-300 with our gas prices in California.

Living at home has helped a lot for me. I noticed not a lot of my Caucasian friends do that though.

Oh it also helps being a cheap fuck when it comes to eating and going out. This is also why I'm single, but oh well. More money for me

[aclark0622]

I'm a big mmm fan. The biggest takeaway is get out of debt (now) and never go back in

[AlpineValley804]

Great thread idea. There's nothing more I want right now than getting out of student loan debt.

[Tiduwho]

Originally Posted by justinandimcool

My contribution to this thread is driving. I commute every day so it's tough on the wallet. However, try to drive as smoothly as possible. Don't accelerate right way, brake as little as possible when cruising, keep your average RPM down, speed less. I now fill up once every 17-20 days rather than once every 9-12 days. By the end of the year that saves me a good $200-300 with our gas prices in California.

Living at home has helped a lot for me. I noticed not a lot of my Caucasian friends do that though.

Oh it also helps being a cheap fuck when it comes to eating and going out. This is also why I'm single, but oh well. More money for me

I second the motion on driving. You can save a GOOD chunk of money simply by accelerating very little. Don't waste gas by speeding into the onramp and blowing by people. Or any of the other major ways people waste gas.

[Tiduwho]

Originally Posted by AlpineValley804

Great thread idea. There's nothing more I want right now than getting out of student loan debt.

That is what I am attempting to do right now as well.


Need to get it paid off....before I can hope to look at houses.

[neumdogg]

Make a lot of money.