I started saving for retirement last October when I started a new position. I had a -$64,000 net worth at the time and like no cash in the bank; it was tight. The breakdown was -$50,000 in student loans and -$14,000 for a car (face punches, I know). I have been making between $63,000 and $68,000 throughout this time and am amazed I was able to increase my networth by nearly $40,000 in one year! I paid off over $9,000 on my student loans, nearly $5,000 on my car, have over $15,000 in my 401k, and have $11,000 to my IRA/taxable account. That blew my mind that I was doing that well.
I didn't spend a lot during this time but I bought some nice new clothes online when on sale. Some decent suits from JAB for $60-$80 a pop, nice dress shoes marked 50% off, and BB shirts for $15 a pop off ebay. I just look for deals when I'm looking for something and ill wait if its not a rush and I expect a better deal will come sooner rather than later.
I also took advantage of three credit card offers: Sallie Mae card for 5 points per dollar on groceries, gas, and amazon (I use a lot of gas due to my work); American Airlines card for free flights; and the American Express Rewards Gold Card for the points bonuses. These cards helped me save an additional $1500.00 (though I havent redeemed $700 worth of the AE card yet).
Refinancing my student loans helped save a pretty penny in interest as well. I went from paying $300+ a month in interest to $133.
Finally, a conscience attempt to cut back on eating out has surely helped (sometimes). I now set a goal of only spending $25 a week on eating out.
