Author Topic: Reduced my spending by 1% painlessly  (Read 6152 times)

Melody

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Reduced my spending by 1% painlessly
« on: October 30, 2014, 09:59:37 PM »
So amped I had to share this with someone. I went to set up a direct debit  on my bus pass today. Interestingly l, to do this I had to set up an online account and this showed me all the "transactions" on my pass. Yesterday's ticket home was cheaper than all the other days because I had gotten off one stop earlier (it's an express bus so doesn't stop at my usual stop). So getting off one stop early will save me $340 a year, or 1% of my current spending, leading to nearly half a percent increase in my savings rate. The stops are at most a two minute walk apart.
In addition, this discovery was motivating as it reminded me how killer small regular amounts are. my twice weekly takeout coffee habit is costing me about this amount, so I now have a real motivation to quit it (or at least return to drinking the bitter work coffee). If I can do that its a whole 1% increase in savings rate just for two minor changes.

2ndTimer

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Re: Reduced my spending by 1% painlessly
« Reply #1 on: October 30, 2014, 10:38:08 PM »
Brilliant! And a great way to burn a few calories if like so many of us you suffer from the butt broadening effects of modern life.

HappierAtHome

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Re: Reduced my spending by 1% painlessly
« Reply #2 on: October 30, 2014, 11:48:43 PM »
This is a cool way to think about your spending. I might use it as a goal - 1% is enough to make a difference, but not a huge amount to have to cut from an already fairly mustachian budget.

BPA

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Re: Reduced my spending by 1% painlessly
« Reply #3 on: October 31, 2014, 04:35:49 AM »
This is a cool way to think about your spending. I might use it as a goal - 1% is enough to make a difference, but not a huge amount to have to cut from an already fairly mustachian budget.

I agree.  Way to go!  And thanks for the inspiration.  :)

Melody

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Re: Reduced my spending by 1% painlessly
« Reply #4 on: October 31, 2014, 05:43:17 AM »
Yeah... If I could just find another 8 of these that would be awesome... Now I am focused to try and find these :)

Melody

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Re: Reduced my spending by 1% painlessly
« Reply #5 on: October 31, 2014, 05:46:18 AM »
I am also considering reducing my phone data as the company has released a new plan which is $5 less a month than the old plan, but has less data. I don't do anything important with my phone data (mostly bus entertainment) and I could totally go back to the more useful hobby of reading library books instead.

happy

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Re: Reduced my spending by 1% painlessly
« Reply #6 on: October 31, 2014, 05:53:48 AM »
Nice move Melody! These tweaks get harder to find, but it all adds up.

Kansas Beachbum

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Re: Reduced my spending by 1% painlessly
« Reply #7 on: October 31, 2014, 12:37:31 PM »
Awesome!  Small amount do indeed add up to large amounts.  And as someone else mentioned, you get a couple of block walk in both directions.  Research continues to show that, like dollars, even small increases in physical activity have benefit.  Win/Win.  Regarding coffee, maybe consider finding a brand you really like that you can brew at home (try Community Coffee based in NOLA, I order from them on line and it just shows up 1X a month on my doorstep)?  Just brew a big pot at home and get a really good, large travel cup and enjoy on the train. 

falcondisruptor

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Re: Reduced my spending by 1% painlessly
« Reply #8 on: October 31, 2014, 03:25:18 PM »
Nice work, is your transit system based on zones, or is a distance thing?

Gone Fishing

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Re: Reduced my spending by 1% painlessly
« Reply #9 on: October 31, 2014, 03:45:53 PM »
Not to nit pick too much, but isn't 1% down in your spending a 1% increase in your savings rate if the percentages are a fraction of your total income? 

marty998

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Re: Reduced my spending by 1% painlessly
« Reply #10 on: November 01, 2014, 06:46:25 AM »
Nah she was saying 1% of her spending, which is probably around half her income.

Maths is fun :)


fartface

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Re: Reduced my spending by 1% painlessly
« Reply #11 on: November 01, 2014, 08:05:55 AM »
So amped I had to share this with someone. I went to set up a direct debit  on my bus pass today. Interestingly l, to do this I had to set up an online account and this showed me all the "transactions" on my pass. Yesterday's ticket home was cheaper than all the other days because I had gotten off one stop earlier (it's an express bus so doesn't stop at my usual stop). So getting off one stop early will save me $340 a year, or 1% of my current spending, leading to nearly half a percent increase in my savings rate. The stops are at most a two minute walk apart.
In addition, this discovery was motivating as it reminded me how killer small regular amounts are. my twice weekly takeout coffee habit is costing me about this amount, so I now have a real motivation to quit it (or at least return to drinking the bitter work coffee). If I can do that its a whole 1% increase in savings rate just for two minor changes.

Great post. This, in its simplest form, is how FI is achieved. What you're doing here is developing powerful "habits of mind". I brew my own coffee at home and then fill up a thermos to take to work and enjoy...laughing at the clowns in the starbucks drive - through on my way. I know you take the bus, but even when I rode my bike to work in warm weather, I had enough room in my basket for a large water bottle, coffee thermos, my purse, laptop and lunch!

Thanks for sharing one stop along the way on your voyage to badassity!

Melody

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Re: Reduced my spending by 1% painlessly
« Reply #12 on: November 01, 2014, 05:02:49 PM »
Nah she was saying 1% of her spending, which is probably around half her income.

Maths is fun :)
Yep, what Marty said.

Thanks. Our public transport works on a combination of zones and distance, I think it was distance that got me over the line.
We do have a totally 100% free coffee machine at work but it's pretty bad coffee. I normally have a coffee with breakfast anyway so work coffees tend to be if I need a pick me up in the afternoon. I might go with coffee bags which I have used for camping and aren't too bad.

Gerard

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Re: Reduced my spending by 1% painlessly
« Reply #13 on: November 05, 2014, 06:46:04 PM »
Would you come out ahead by bringing some good coffee to work and making a whole fresh pot for you and your colleagues out of your own stash? Still cheaper than buying over-the-counter coffee...

Happy Little Chipmunk

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Re: Reduced my spending by 1% painlessly
« Reply #14 on: November 06, 2014, 10:53:54 AM »
We travel with an Aeropress brewer. It's cheaper and yummier than coffee packets. It would also be great for work: http://www.amazon.com/Aeropress-Coffee-and-Espresso-Maker/dp/B0047BIWSK

Or extra-frugal is a simple cone...You'll find them cheaper than this if you look: http://www.amazon.com/Plastic-Filter-Medium-Coffee-Maker/dp/B001S353EQ/ref=sr_1_3?s=home-garden&ie=UTF8&qid=1415296120&sr=1-3&keywords=coffee+filter+cone

Sometimes it's nice to have an excuse to wander to the office kitchen and futz around. Brain breaks are good. Plus it makes you more intentional about your coffee consumption.

fireferrets

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Re: Reduced my spending by 1% painlessly
« Reply #15 on: November 06, 2014, 04:59:38 PM »
holey moley, Melody - you are a badass! That is the best travel hack I have heard in a long time.