Comments on: New Year’s Resolution Workshop #2: Spend Less Money

By: Nick

Nick — Wed, 31 Dec 2008 03:13:33 +0000

Just think realistically about your savings. If you are going to cut something out that drastically improves your life for $10 a month, think again. Will that really be helping you out for the sake of savings?

By: doctor S

doctor S — Tue, 30 Dec 2008 18:35:52 +0000

I think for the longest time people were telling me that I should be spending less and less money for my future. However, I never really defined a reason for myself, “WHY”? What do I need to put my money towards instead of spending less in one aspect. Sometimes it takes realizing such a thing to motivate you to doing so in the first place.

By: prodgod

prodgod — Sun, 28 Dec 2008 13:49:15 +0000

If you’re really determined and committed, I think you can make drastic changes all at once and be fine. In a personal financial crisis, you sometimes don’t have the luxury of time to ease into new habits. Same goes for health; if you’re diagnosed with some ailment, doesn’t it make better sense to make radical changes now, rather than later? You gotta “stop the bleeding,” so to speak.

Different approaches work for different people.

By: jana

jana — Sun, 28 Dec 2008 04:12:56 +0000

articles like this are the reason why i keep coming back here – simple words, no tipteing, yet nothing harsh. this will help me to be better off

By: Shevy

Shevy — Sun, 28 Dec 2008 02:29:29 +0000

This is one big half of the equation. If you want to get ahead you have to spend less or earn more. In many cases, due to taxation, spending less is more valuable than earning more!

Of course, the best situation is where you do both at once but take that one baby step at a time.

By: Michelle

Michelle — Sun, 28 Dec 2008 02:22:02 +0000

I love your suggestion of wrapping a picture around the credit cards! I’m going to put a picture of my children around my cards so that I’m forced to remember that creating more debt steals from their futures. That will give me the motivation to stay focused on not adding more to our debt. Thanks for the idea!!

By: gsb

gsb — Sun, 28 Dec 2008 01:01:55 +0000

I think that is so true, people tend to get discouraged when they try to do it all at once and fall back into comfortable habits very quickly. Like any lifestyle change a change in your spending habits is difficult and should be taken one step at a time in order to continue to be successful.

By: SS

SS — Sat, 27 Dec 2008 23:54:06 +0000

I have learned to really cut back. Less is More.
I am going to be better at it next year 2009.

By: pam munro

pam munro — Sat, 27 Dec 2008 22:54:58 +0000

Have to admit that much of my experience has been just making do with a very slim purse – but perhaps I have some tips to pass along – I try to think about how I can save on everything without sacrificing quality – in face, sometimes with MORE quality than I could otherwise afford – like the hand-dipped red candles I snagged at a thrift shop before Xmas – A real steal at $2 for 6 even tho they were3 a bit droopy on top – a condition which disappeared after some burning. So – need satisfied!

Learn to recognize quality in unexpected places at below-market prices. For Xmas we got a new oriental-style rug for the livingroom – and because it was an obscure inner city dollar store it was 1/2 what it would be at – say Home Depot or Ikea! (Same rug, remember…)

If you love coffee in the AM – make better java at home & bring it in your own travel cups – or at least economize on an Americano at Starbucks and add the bells and whistles of flavoring yourself from their flavoring bar – (saving 2 bucks or so in the process…)

It’s a great thrift pinball game – get a great deal and rack up those imaginary thrift points while keeping a comfortable quality of life!

See me at http://www.myfrugallife.com/blog_pamphyila.html for a chronicle of how I go about it myself….

By: Financial Fellow

Financial Fellow — Sat, 27 Dec 2008 19:50:10 +0000

Trent –

I have to admit that this is one of the better pieces of advice I’ve come across on how to keep your resolution on reducing spending. The inspirational thought is a good one. At its core all of these resolutions are tied to an emotional element – whether its losing weight, saving money, spending more time with friends, etc…

My thoughts: I’ve never really liked the idea of a New Year’s resolution. I tend to go with the saying “No point in putting off until tomorrow what you can do today.” I understand the idea of people that like a fresh start with the new year. That said, if you really want to do something you should just do it. Regardless if it’s January 1st or May 17th…

Nice work on this article and the series.

Financial Fellow

By: Sheila

Sheila — Sat, 27 Dec 2008 19:39:30 +0000

I really enjoyed reading about the ten second and thirty day rules, and I plan on putting them into practice. Getting my husband to get on board the spending less train is a bit harder.

By: Trevor - 14 Year Old Money Blogger

Trevor - 14 Year Old Money Blogger — Sat, 27 Dec 2008 17:59:38 +0000

Replacement spending is such a crucial point.

Too many times have I seen people cut down on luxuries and spend it on more food when they don’t need it.

The goal is to cut down overall. Certainly recommend people keep reading that point over and over again.