Anonymous wrote:… and still have QOL? I am not interested in cutting my TV services , gym membership or other small things that don’t make a huge dent but reduce my QOL. However, I am looking for ways to analyze my spending and reducing it in ways that make a bigger impact. I don’t buy Starbucks coffees. I eat out occasionally (but don’t spend that much as I am don’t eat that much). Where can I save more?

We are not natural spenders and have found that the usual advice doesn’t apply to us because we are already doing most of what is typically suggested. If you are like us, you can move to smaller less costly housing and live close to jobs. Or move to a lower coat area.

I know you don’t want to know about these but All these little luxuries add up real fast. Streaming Netflix and Disney+ and etc. get one not all. Cut back on Starbucks, impulse buys, reducing going out to eat. Family of 4 out for a not fancy dinner is running at least $100. That $400/month. Don’t drink alcohol out. Use that money towards travel. That’s the one thing we do not cut. We save so we can travel.

Stop driving. Walk or take public transportation. You will save $, get thinner, and not hurt the planet.

Look at car and homeowners insurance. You can always save hundreds if you just shop around.

Pay yourself first, direct deposit every payday into a dedicated account in a separate hard to access bank account

Anonymous wrote:Get a cheaper house
Send kids to public school
Cut back on kid spending till they are 13

Um, why 13?

Take out a fixed amount of money each month. Pay cash.

I'm pretty frugal and the reality is the only way to save significant money is to adjust to a lower QOL. You already say you aren't extravagant and don't have daily Starbucks habit or dine out often.

This is how you save money: give up all your memberships, read books instead of watching Prime or Netflix, don't travel, walk instead of driving, get rid of your car, move to a cheaper house/cheaper apartment. That's where savings are. Not switching from Whole Foods to the Giant.

Don't save, invest instead. Anything left over at the end of the month?

Get a cheaper house
Send kids to public school
Cut back on kid spending till they are 13

Make a budget. Write down all the absolutely must pays, like mortgage, utilities, car payments. Then look at how much is left over. Decide how much you want to save vs spend on maintaining quality of life. Slow savings is a thing if you don’t have something you need to save for, just take X amount off the top and put it away. Don’t wait until everything else comes out or you won’t do it.

I think it's about spending less/not let your increased income = increased spending. We drive old cars (only replace when they die), travel but fly economy and stay in AirBnBs (and cook most meals), and don't redo the house every 10 years.

Don't buy anything you don't need. Learn what are wants and needs. Live below you means. Use what you have at your house already even if it's not that great, that adds up.

I like YNAB.

There are way you can reduce some costs by buyer cheaper versions of what you currently buy.

For example, I switched from a coffee and wine subscription service to buying that at costco for less - not giving up coffee and wine completely.

Ramit Sethi also says there is a limit to how much you can cut but limit to how much you can earn so you could also consider a side hustle, etc.

… and still have QOL? I am not interested in cutting my TV services , gym membership or other small things that don’t make a huge dent but reduce my QOL. However, I am looking for ways to analyze my spending and reducing it in ways that make a bigger impact. I don’t buy Starbucks coffees. I eat out occasionally (but don’t spend that much as I am don’t eat that much). Where can I save more?