Things I could do to save money but don't:
- I buy nutritious, healthy food. This includes meats, vegetables, fats, spices, etc. I could buy cheap white bread, noodles, etc. But these are no good for my health. If I don't have my health, I can't get on my bike or go hiking which is what I enjoy. So it is not worth the savings.
- I use my car more than I have to. If it is raining or late at night, I'm not going to ride my bike due to safety concerns. Also if I'm turning up to someones house for dinner, I'm not going to turn up in my cycling gear and request I have a shower at their house. I've been hit by a car cycling and it was because it was dark and in the rain.
- I spent money on getting out in the weekend and doing things I enjoy. I enter cycling events out of town, I go hiking with a club, I travel to see friends and family, I often drive to these places or catch a train/bus/plane. I don't want to sit at home doing nothing just for the sake of not spending money.
- I buy quality. I used to buy the cheapest things I could find. I would never buy new. However, over the years I've learnt that buying quality is actually the better way to go. For example, I used to buy all my clothes 2nd hand. They were cheap, but they didn't really fit me, I looked scruffy and they didn't last very long. I would spend $10 on them and then have to replace them after a year. Now I buy $50 items, they fit me well, they look better and they last way longer.
- I spent money on improving myself. I could just research online and read books for free to advance my education. However, I often go to seminars, take people out for lunch, to go information evenings, etc to learn about my interests (personal finance, investing, health, sports, etc). I feel the investment is worthwhile.