... sorry, couldn't think of a better headline :D
Since I've started reading MMM, I made a lot of changes that help me save around 40-50% of my income (actually 55% if you count the money that goes into retirement accounts as savings. But I just see the money going out for now).
I thought I could share some of the stuff I changed to accomplish that, because I hear from many people in my income bracket (quite low as a PhD student obviously) that it's not possible to save, especially (?!) as a lady. So, here is what I'm doing:
- I'm cutting and coloring my hair. As I'm unnaturally ;) blonde, this alone saves me around 100€ every 6-7 weeks. I buy the color for 7€, have cutting scissors and just do it on my own with the help of youtube videos. So far, people were really surprised when I told them. Apparently I don't to a bad job :)
- No paid sports classes / fitness studio etc. I go running and once a week meet with a friend for a DVD workout class. I'm also known to travel with a laptop and workout DVDs.
- I have a freezer full of homemade burritos. I take either one of them, a salad or leftovers to university every day. No paid lunches.
- I bought a used juicer on ebay and buy cheap vegetables and fruit at Aldi. The fresh juice is taken to university in a stainless steel bottle. I just realized how much money that is saving me when I took a recent walk around the university area and saw juices offered for 4,50-8,50€ (!!) per serving. Those guys are crazy.
- For beauty, I buy cheap healing earth (about 4€ for 15 masks) for facial masks and use coconut oil afterwards for moisture.
- I make a meal plan every week so I have nearly no food waste. I spend around 35-50€ per week on groceries, eating really well.
- I take full advantage of my university library for books.
- For this year I made a resolution only to buy 2nd hand clothing, with the exception of underwear and jeans if something needs to be replaced. There are so many people selling beautiful clothes online for next to nothing because it's "last season".
- I'm always in for a nice side hustle, like selling some books or helping someone with problems in my field (I'm a lawyer, so there are many^^)
With those lifestyle choices, my living expenses are around 950€ per month, the rest goes into retirement accounts, savings accounts and is invested. I thought, maybe I can show to other people that don't earn that much that saving is possible and you can really progress in your financial goals.
I've come a long way, and I'm quite proud of those changes. Have a nice day :)