A PERSONAL SECRET I SHOULD NOT DIVULGE
Categories: life, values, spending, saving
“I shall tell you a great secret, my friend. Do not wait for the last judgment, it takes place every day.” Albert Camus
OK, my secret is not as magnificent as that of Albert Camus. But in my quest for authenticity I will share something I normally would keep to myself.
MAIN TOPIC: The BarbaraFriedberg Way to Cut Spending
I am incredibly lucky in that most of my work is done away from a traditional office. That means, if I have a computer and internet, I can get my job(s) done. To up my productivity, once or twice a week I head out to Panera, the public library, or a beautiful hotel lobby. As long as there’s free internet, I can work!
Getting out of my home office is a productivity matter. If the environment doesn’t change once in a while, I get way too sidetracked and distracted and my productivity goes down.
Does that happen to you?
Here are the pros and cons of each location:
|PANERA||Free coffee refillsNear Lowe’s, $1 Store, & Goodwill drop off||NOT FREE|
|PUBLIC LIBRARY||FreeBooks & magazines to read during breaks||None|
|HOTEL LOBBY||Beautiful setting||My favorite hotel just dropped internet for anyone except guests|
Before moving on to the practical application, my decision making regarding spending is based on a VALUE for COST premise. If the cost is worth the pleasure or value I receive from the spending – GREAT. If the COST OUTWEIGHS THE VALUE – not so good.
Read more about this philosophy in The Secret to Saving without Sacrifice.
PRACTICAL APPLICATION: Here’s the Secret
When I go out during the day, I always pack my lunch. For a break, I take my sandwich, some carrots and go out to my car (or the lobby of the library) and eat. (I still can’t believe I divulged this.)
Why do I do this? Because …….. the $10 it costs for lunch out does not give me $10 worth of pleasure. Conversely, the $2 worth of coffee- yes, worth the money for me.
Here’s how it plays out:
Annual Savings from bringing lunch 1 time/week:
Save $8.00/week X 50 weeks = $400.00/Year
And now for secret number 2; my husband and I spend the extra $400.00 on something that we really value, such as:
2 Nights vacation in a hotel
2 tickets + dinner for a Broadway show
Several trips to a minor league baseball game
Now I realize there are those out there who probably think I’m overly frugal cheap. Or would rather eat lunch out than go to a hotel, show, or ball game; and I get that.
The reason I shared my secret is to open the door to discussion.
What are the ways you save and where do you splurge?
Get a notebook and label it: “(your name) Personal Finance” and keep it by the computer. Use it to keep all of your personal finance goals, thoughts, activities, and plans.
- Evaluate your spending for a week and cut out the lower value/higher cost activities.
- Look into flexible account spending changes for ways to get more money in your pocket for minimal effort.