Everyone knows the classics. Only use cash (eh). Wait 30 days before making a purchase to see if the impulse wears off. Track your expenses. Save X% of your paycheque. But what are some more interesting ones?
The best thing I’ve ever done is make a chart in excel comparing a few different strategies of retiring early. The end date of all of the plans is much longer than I wanted it to be at my then savings rate.
I stopped buying stuff I didn’t need. Slowed down my research phase of things I did need. Learned some higher standards for things I need/want.
I also was bad about hopping hobbies every few months. That was tough to break.
After some time it broke the cycle of wanting the new thing because it was new. And once you don’t buy things you don’t need, saving is easy. Not sexy but easy.
Here is a good one. Consider affiliated costs. Say you buy a printer. The printer needs ink and paper. Research maintenance and operating costs.
Consider unconventional alternatives. You don’t need an air compressor for a car tire. Bike tires operate at higher pressures than car tires. A nice $25 bike pump with a built-in pressure gauge will surprise you at well it works on car tires.
You don’t need to buy a pickup for a boat trailer if you only use it a few times a year. Compare rental to purchase costs of big ticket items. Even if you use them more than most, renting is likely cheaper.
That’s actually really interesting, I like it. I’m trying to brainstorm areas where I’ve neglected to consider associated costs. Probably cooking for me? I have a strong tendency to get culinary inspiration and drop way more cash than I intended on all the things I didn’t realize I would need.