I already wrote about why is it so important to increase your saving rate in order to speed up your journey towards financial independence. In the followings I will present some specific examples that can help you to achieve this goal. Follow the below recommendations are so easy that soon they will become nice habits, rather than saving ideas that you should pay attention to.
1. Stay Home at Your Patents
Rent or buy is a dilemma that everyone is facing with. Well, you shouldn’t. Why would you spend a single cent on accommodation while the warmth of the family nest is still available?
Mom and dad won’t even notice those few extra years you stick around. As an extra bonus you can also save a lot of money on the non existing utility bills that your parents should still pay for themselves anyway.
Accommodation is the highest expense of most households, therefore you can already bring early retirement forward by many years.
2. Pee During Showering
No matter you’re reckless enough by not following the first saving idea, or you’re simply nice enough and want to reduce your parent’s water bill, this is an excellent saving opportunity.
Many people underestimate the importance of water. Meanwhile, according to many researches, the wars of the future will be fought over water. It would be irresponsible to waste a single drop of this natural resource.
Unfortunately due to the way our body works, we pee more often than we shower. The solution for this is correctly summarized in the following poem: “If it’s yellow, let it mellow; if it’s brown, flush it down!”
3. Don’t Shave!
Water, shaving foam, lotion, blades… The list of things we are using (wasting) during shaving is endless. And all this for meeting some social standards and beauty ideas, while fighting against the way how mother nature has created us. Screw that, I say!
For the less hard-core people, partial shaving might be acceptable. In fact many FIRE bloggers follow this method. Does Mr. Money Mustache ring a bell? I can guarantee that he would still be years away from financial independence if he didn’t follow this simple cost saving idea!
4. Don’t Spend on Food
If accommodation is the biggest expense of an average family household, grocery is probably the second one. But not anymore! You can definitely boost saving rate by totally eliminating this expense.
I already wrote about gathering and farming. That analogy can be perfectly used for investing. Nevertheless it seems like we forgot about basic survival methods that were so obvious for our ancestors.
I don’t know about you, but if I look around I see free food everywhere. And due to the changing seasons your menu will never be boring. In our neighborhood at this time of the year the area is full of wild leek. As the weather gets warmer, insects will begin their short lives. Many research don’t only encourage insect eating, but even say that they will be the most important protein source of the future. Summer and early autumn are the season of wild fruits. And depending on the climate of your region you have at least 6-7 months to pile up some stock for the winter.
Depending on how much of the above ideas follow at the same time, I can guarantee that your attractiveness will be significantly reduced. No more dates, wasted money on flowers, dinners and taxi rides (you don’t even dream about having a car, right?).
It’s only you, your investment account, and the overwhelming thought that financial independence is right around the corner!
I hope this article helped you to significantly increase your saving rate. Please when you’re already on the beach and your biggest worry is which cocktail to choose from the menu, think of me and these valuable advises.
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