#frugaltip #frugalism #frugal #minimalism #minimal #grownostr #nostr #coffee #plebchain #fire #financialindependence #lifestyle #savemoney #moneysaving
#frugaltip #frugalism #frugal #minimalism #minimal #grownostr #nostr #coffee #plebchain #fire #financialindependence #lifestyle #savemoney #moneysaving
(Testing NIP95)
#frugaltip #frugalism #frugal #minimalism #minimal #grownostr #nostr #coffee #plebchain #fire #financialindependence #lifestyle #savemoney #moneysaving
#frugaltip #frugalism #frugal #minimalism #minimal #grownostr #nostr #coffee #plebchain #fire #financialindependence #lifestyle #savemoney #moneysaving
The Difference Between FIRE and FILE (and Which Is Right for You)
#financial #fire
https://lifehacker.com/money/difference-between-fire-and-file-which-is-right-for-you
Also there is another one advocated by #TimFerris :
Mini Retirements
https://tim.blog/2008/06/04/how-to-take-a-mini-retirement-tips-and-tricks/
"Define your fixed savings rate"
If you define your fixed savings rate (how much money you can save per month), you can calculate how much time you need for almost complete financial freedom.
Financial freedom means, your life is not dictated by money anymore. You can basically choose to do anything you want, because money is not a problem anymore.
Of course, depending on you, and your wishes, you can reach certain degree of freedom that is already enough.
#frugaltip #frugalism #frugal #minimalism #minimal #grownostr #nostr #coffee #plebchain #fire #financialindependence #lifestyle #savemoney #moneysaving
I hope it meat your expectations 🥩
"Justify your costs"
We can have costs that seems reasonable for the first time, but if we think about it, we realize that they make no sense, or we can out-smart it.
E.g.: Having 2-3 streaming services at the same time (netflix, amazon prime, hulu, disney+, etc):
We could justify having all of them by, yeah they have different series and movies on it, and I want to see from all of them.
Okay, understood.
But how about, having only 1 streaming service for each month, and changing between them for different months. This way you would group the things you want to watch for the month you have it paid.
Or speak with a friend, that she/he buys one service, you buy the other, and you kind of share it. So this way both of you pay only 1, but could have access to the other.
Try to apply this idea on other costs/payments you have.
#frugaltip #frugalism #frugal #minimalism #minimal #grownostr #nostr #coffee #plebchain #fire #financialindependence #lifestyle #savemoney #moneysaving
"Meet with friends not in bar/pub/restaurant setting"
Meeting with friends and socializing is usually a really important part of our life. We migh feel, that if we meet with friends frequently it is not a budget friendly option.
But, you can solve this!
Just do board games night, picnic party, grill party, mulled wine party, hot chocolate party, coctail party, hiking, etc.
Usually it is cheaper alternative to do the coctails, drinking, etc from a grocery store, than in a bar/pub/restaurant.
Take turns doing such with your friends. Always someone new organizes. You can also do it as a walk, like you visit 2-3-4 homes a night, so it is not a big pressure for anyone.
#frugaltip #frugalism #frugal #minimalism #grownostr #nostr #coffee #plebchain #fire #financialindependence
"Find you REAL needs"
Usually, we do things out of desire, need or want. Or at least we THINK we desire, need or want it.
But, what if we don't really want that thing, but something it gives, or we think it gives.
E.g.: you think you are hungry all the time, but maybe you are just bored at what you do, so you just perk yourself up with eating.
Or you believe that you need to live next to a beach or something, because you like to sunbath, bath, etc. But you only in rare occasions go out. Do you really need then to live next to a beach?
So in this point, I mean we need to really look internally, find out WHAT we value in life, and WHY, so we can uncover our REAL DEEPEST needs.
If you do that, it will be so much easier to save money, because you can concentrate on paying/having the things you REALLY need, and CUT OFF everything else.
#psychology #frugaltip #frugalism #frugality #minimalism #fire #financialindependence #grownostr #nostr #plebchain #savemoney #moneysaving #desire
"Happiness is not having more things."
When you buy a new thing, you can feel you are happy of course. But this will wear off quickly.
Why?
The feeling you feel when you buy a new thing is not happiness, but joy. Joy is when something external causes you good feelings. On the other hand, happiness is an inside job. Happiness is something, that you do for yourself.
Both happiness and joy can feel similar, but the greatest difference is that joy wears off quickly, but happiness stays.
Unfortunately we are bombarded from the media each day that this will make you happy, that will make you happy. But they can only cause you joy, as that one is from external influences. Therefore they often try to blur the lines between them, so they can say buy this something and you will be happy.
#frugaltip #frugalism #frugality #minimalism #happiness #grownostr #nostr #Nostr #plebchain
"Only buy discounted products when you need them"
Why ❓️
If you buy a not needed product, you are not saving, you are wasting.
So if you don't need it, instead of saving the discount, save the whole price.
#frugaltip #frugal #frugalism #minimalism #savemoney #moneysaving #nostr #grownostr #Nostr #plebchain
"Wait a few days before bigger buys"
Why?
▶️ As we are emotional beings, we can get caught up in wanting things we don't really need.
▶️ A branch of marketing even plays on this human flaw.
▶️ If you wait a few days, this impulsive feeling of need might go away, and will be replaced by a more conscious thinking.
#frugaltip #frugal #frugalism #fire #financialindependence #savemoney #moneysaving #plebchain #nostr #grownostr #Nostr
"Learn to cook"
Why?
▶️ Cheaper to cook then to eat out.
▶️ You more or less control better what goes into your food.
▶️ Kids usually like the food that is made by their parents.
▶️ It can be a fun program/date to do that.
#frugaltip #frugal #frugalism #fire #financialindependence #savemoney #moneysaving #Nostr #plebchain #nostr #grownostr
"Don't increase your living standards too often and too young"
Why?
▶️ Usually if you increase your living standards, you don't want to go back. But increased living standards have increased costs, so you force yourself to have jobs that pay above a certain amount. This reduces your flexibility. Also more savings are needed when you have no job.
▶️ If you are young, odds are that you can bear more nomadic environment/living standards, then you will at older ages. So better to use this flexibility now. You can do it smart! 😉
▶️ Increased living standards, mean increased costs, which mean you will have to have more investments to sustain your life without working.
▶️ As it is hard to go back to lower living standards, it might make sense to evaluate if you really need that upgrade you plan to have.
#frugaltip #fire #financialindependence #frugal #frugalism #minimalism #moneysaving #savingmoney #money #Nostr #nostr #grownostr
"Measure your expenses"
Why?
▶️ You can only improve it, if you measure it.
▶️ You can find out your non-necessary or waste costy. E.g.: Having disney+, prime, netflix, or multiple service for the same purpose.
▶️ You will know your monthly costs, that can help you plan ahead.
#frugaltip #frugal #frugalism #minimalism #savemoney #moneysaving #Nostr #nostr #grownostr
"Earn through investments instead of a salary"
Why?
Usually you have to pay less taxes on your earned capital gains or dividends then you woudl have to if you earned the same via salary.
This can be true when capital gains or dividends taxes are smaller then income tax.
Pro tip: Check how it works in your own country!
#frugaltip #frugal #frugalism #minimalism #investing #tax #nostr #grownostr #plebchain #fire #financialfreedom #(l)earn
Cool! 🤙
Somehow these things interdepend a bit.
Financially free: you shall not fully depend on 1 high income.
1️⃣ Have enough savings to be able to quit any time.
2️⃣ Don't have any or too much financial burdens that expects a high salary from you that makes you unable to move to a new job.
3️⃣ Having multiple source of income. (Side hustle, investments)
4️⃣ Have low expenses.
5️⃣ Don't immediately increase your living expenses when your salary increases.
Establishing your future: you shall plan a head money-wise.
1️⃣ Be prepared for bad times:
Usually we have bad times and good times. In good times we shall think about the bad times in front of us, and make excess savings if situation allows.
2️⃣ Be prepared for job change/career change (even for lower paying career)
3️⃣ Don't immediately increase your living expenses when your salary increases.
4️⃣ Invest in continuous improvement/learning.
One thing is constant, and that is change. So be prepared that your job might be replaced with others.
"Save to invest"
Why?
▶️ Not to lose your hard earned money:
Because of inflation, your money can buy you less and less as time passes.
▶️ Not to lose your retirement money:
If you save for your retirement, then you will lose significant amount due to inflation.
▶️ To earn more money:
By investing, your money works for you.
Attention: Be aware of scams!
#investing #invest #frugaltip #frugal #grownostr #nostr #plebchain