“Do not save what is left after spending; instead spend what is left after saving.”
Warren Buffett
How Can You Save Money and Balance Your Budget Without Living Like a Pauper?
The purpose of modern capitalism is to drive profits for the elite class, which are driven by sales to the middle/lower class, which are driven by marketing, which is driven by influencing buying decisions, which is driven by the consumer’s (your) brain. We’ve been conditioned to believe that the market bears solutions to our needs and wants in the here and now.
In reality, we succeeded in spite of capitalist and commercial interests for decades before the unions and lobbyists forced their way into our mindscape and wallets. For fathers, we need to constantly manage our money, time and resources. Money is made to be transferred (after all, does anyone actually own money?). But, we can tap into our prudent, handyman tendencies to save money while managing time and enhancing our resources. Plus, you won’t need to serve your kids ramen noodles (they can do plenty of that in college), make your own soap, or go without your favorite things.
Offer Time Instead
Many partners would much rather have our time than our money. It’s true. Leave work early, go home and spend the afternoon or evening with them watching their favorite show or movie. This type of date (not every day) is romantic and costs pretty much nothing. Even donating time instead of money to neighbors or charitable causes could help you live longer, per a 2019 study.
Buy Pre-Owned
Not just for cars and far from going to a thrift shop. You can find what you need at Craigslist, Nextdoor, as well as Poshmark. You can find close to brand new pallets, lumber, clothes, sports equipment, and even cars on these sites. Remember, while this can save you time and money, you have to be sure to look out for scams that are more typical on these sites then when buying full retail.
Grocery Shop Intelligently
If you’re like me, you’ve noticed an increasing abundance of your groceries and leftovers going straight to the trash at some point. Take an audit as you clean out your fridge and before your next trip to the grocery store. Pull back on the items going straight into the trash. If you pull back too hard and don’t have what you need, guess what? Those items are at the store and you can swing by and pick them up. Part of the reason grocery stores charge higher prices is because they’re storing items for you. I estimated a weekly savings of $20, at $80 per month, and nearly $1,000 per year just by paring down on our grocery list.
Also, don’t buy an extra refrigerator to put in the garage unless you’re really going to use it. Growing teenagers and hunters who store their own meats are probably the only people who need an extra fridge.
Avoid Spending Traps
If you pass places where you always spend money (like a bar or the mall) when commuting to work, find another route. If you recognize you can’t go on Amazon without buying something, then add items to your cart, sleep on it and revisit your cart before hitting purchase the next day. This will delay gratification and tamper buyer’s remorse. You can implement these steps in increments to lessen the blow. Change your route every Monday and Wednesday until it becomes normal. Set a timer on your web shopping experiences and stick to getting up and walking away when it goes off.
Double Check and Question your Billers
We’ve all got bills, but how many of us look at our monthly statement from the gas, power or cable/internet company? Make sure to look at those bills, because they can be out of whack and phantom fees, especially by cable/internet companies can pop up regularly. Speaking of, there are a number of ways to decrease your internet bill from buying your own hardware to decreasing your usage based on a usage audit. You can do many of these changes online yourself or find a bill negotiator to do it for you.
