Got a reality check this week

[Klunick]

Klunick, that is amazing! Can you tell me some of your successful strategies for identifying the money sucks and reducing them? Going from 7000+ to 3900/month is amazing!!

Husband took one of our bank statements and did an Excel spreadsheet itemizing each category. That showed what things were items that were non-negotiable like water, electric, auto insurance, etc. Then there were the things we had control over like Amazon, eating out, groceries, etc. Once we saw what items were unnecessarily sucking money each month, we were able to correct it. Nothing too drastic like buying store brand instead of name brand, packing lunches instead of buying lunch, and even changing the brand of cat food we were feeding our cats. Simple changes that didn't cause too much of a disturbance in our lives so we barely noticed the difference.

[iris lilies]

Husband took one of our bank statements and did an Excel spreadsheet itemizing each category. That showed what things were items that were non-negotiable like water, electric, auto insurance, etc. Then there were the things we had control over like Amazon, eating out, groceries, etc. Once we saw what items were unnecessarily sucking money each month, we were able to correct it. Nothing too drastic like buying store brand instead of name brand, packing lunches instead of buying lunch, and even changing the brand of cat food we were feeding our cats. Simple changes that didn't cause too much of a disturbance in our lives so we barely noticed the difference.

i’m glad to revisit the theme of this forum, simple living. Buy the things that you need but not the endless crap that you want or THINK you need.

Your success is a refreshing reminder of why we all gathered here to begin with.

[happystuff]

I agree with il. You are motivating me to take a closer look at our expenditures. I, personally, think I've gotten a bit frivolous the last month or so. Time to rein it in. Thanks for sharing, Klunick.

[catherine]

I agree with il. You are motivating me to take a closer look at our expenditures. I, personally, think I've gotten a bit frivolous the last month or so. Time to rein it in. Thanks for sharing, Klunick.

I also agree with IL. It's great to be reminded with real-life success stories.

[happystuff]

I also agree with IL. It's great to be reminded with real-life success stories.

Absolutely! I find it very motivating to hear of other people's successing... and even failures!

[Klunick]

Seeing the improvement in our bank account was slow going at first and then really took off. We have a nice cushion now which is good because we will need to spend $18000 getting a new septic system in the next few months. We don't use credit cards usually so we don't make a big purchase until we have enough in the bank to cover it without causing too much of a strain. I am just glad my husband isn't accusing me of stealing money like he was two years ago. He swore that the "missing money" was in some secret bank account set up by me because our joint bank account kept staying around the same amount each month.

[happystuff]

So far we are able to do the same, Klunick - to something when we actually have the money to pay for it. Right now, it is updating the Radon system. Current system was in the house at the time of purchase - 35+ years ago! Always something... sigh.

[Klunick]

Getting our finances in order has provided us the opportunity to start buying silver as an investment as well as planning to create a $100,000 investment portfolio for each of our sons when they turn 30. Hopefully if the market cooperates, it will net over $1M by the time it's time for them to retire. "Experts" say by then, it would take $2M in retirement to live comfortably so they will be halfway there and also be able to create generational wealth for their kids as well.

[iris lilies]

Getting our finances in order has provided us the opportunity to start buying silver as an investment as well as planning to create a $100,000 investment portfolio for each of our sons when they turn 30. Hopefully if the market cooperates, it will net over $1M by the time it's time for them to retire. "Experts" say by then, it would take $2M in retirement to live comfortably so they will be halfway there and also be able to create generational wealth for their kids as well.

This is a good goal. Are you going to tell your sons about the money before they are 30?

[Klunick]

This is a good goal. Are you going to tell your sons about the money before they are 30?

Yes. It won't be a secret.