A while back, I wrote about saving money on break time coffee and snacks. I haven't done very well putting it into practice. But a post by James Clear today got me thinking about it again: Warren Buffett uses a two-list system to prioritize things. Check it out--and follow the instructions.
Using Buffett's two-list system, two of the goals I ended up with were taking care of myself and saving $400 more per month than I already am. As I said, I've been wanting to save money, and the system made me really focus on this. I came up with 11 money-saving ideas, six of which had to do with food.
What surprised me is that most of these measures will be less work: one trip to buy 20 pounds of meat, no trips to the coffee shop (unless I want to take my tea down there--it's an open, lobby-type area), no lugging bottles of water home. All that should more than make up for making protein bars.
Now for the savings (click for larger image):
That adds up to $1,788.72 per year. Putting that in a savings account for 10 years at 1% interest, you'd have $18,805.01 in 2024. Invest it in stocks, assuming 10% returns, and you'd have $30,536.90. (See this calculator.) Not bad for taking some steps that are, overall, time and effort savers.
Using Buffett's two-list system, two of the goals I ended up with were taking care of myself and saving $400 more per month than I already am. As I said, I've been wanting to save money, and the system made me really focus on this. I came up with 11 money-saving ideas, six of which had to do with food.
- Buying hamburger in bulk. Ranch Foods Direct sells one-pound packages of 80% lean pastured ground beef in bundles of 20 for a lot less than Whole Foods. Sprouts only carries super-lean beef that's grass-fed, and it's more expensive, too.
- Not driving to Whole Foods. Whole Foods is out of my way, and saving a weekly trip saves gas.
- Coffee at home, tea at work. Tea is free at work; so is the coffee, but it isn't very good. No more coffee shops unless it's a social situation.
- Filtered water instead of mineral water. Bye-bye, San Pellegrino.
- Buying cases of diet soda instead of going to convenience stores. Yes, filtered water would be cheaper, but I don't want to give up soda. Hey, even Warren Buffett drinks them.
- Homemade protein bars instead of Atkins. My biggest savings--those things are expensive!
What surprised me is that most of these measures will be less work: one trip to buy 20 pounds of meat, no trips to the coffee shop (unless I want to take my tea down there--it's an open, lobby-type area), no lugging bottles of water home. All that should more than make up for making protein bars.
Now for the savings (click for larger image):
That adds up to $1,788.72 per year. Putting that in a savings account for 10 years at 1% interest, you'd have $18,805.01 in 2024. Invest it in stocks, assuming 10% returns, and you'd have $30,536.90. (See this calculator.) Not bad for taking some steps that are, overall, time and effort savers.
Comments
I think our biggest money waste is living in a much bigger house than we need, but we like it.
I went many times to mineral water resorts in a North Caucasus region. Most mineral water smells like a sulfur,so I guess there is nothing wrong with it - and it is great for your skin and hair. We moved around in the direction of the decreasing the quality of water - in Vancouver it was amazing, in Edmonton we bought our first water filter, in Florida water filter barely helps, in Tampa where my son goes to University, regular Brita filter is no help, it is either bought water or a very advanced filter required. May be water in Nebraska is quite decent.
A problem with hard (mineral) water out of the tap is that laundry doesn't get very clean using cold water. Biz won't even dissolve in cool water here.
I've got to sit down REAL SOON & get a better handle on my budget; the problem here recently has been uncertainty factor of child support! We'd almost be better off if we'd never gotten it bcz when it's good, I get too used to having that extra space in my budget which makes for hard times when I'm NOT getting it. (Oh yeah I have sicced Attorney General on ex but when he's unemployed, ya can't get blood from a turnip! ;-)
I just replaced a very old dryer with a good used one--the dry, sunny climate here is so good for drying clothes that the dryer didn't see much use over the 18 years I had it. (It came with the house.) I also had to have three plumbers come out to fix a different problem. Homeowners need savings if they don't want to end up in credit card debt.
I am sorry you feel pinched. May be you will find helpful some tips which helped me when money was very tight. When I was very short in income, I was buying only essentials,preferably in bulk, like meat, eggs, butter,sour-cream, vegetables, rice, potatoes and no fun foods like sauces,sliced fancy deli items, nuts, snacks, drinks. Sliced baked pork and meal loaf make great substitutes for a meat deli.It is very convenient to always have a soup in your refrigerator, even couple types of soup in your freezer, and in a soup you can put nearly everything, like chip chicken hearts, leftovers of roast meat or chicken besides different vegetables, even chopped hard-boiled egg before eating. It is very easy and doesn't take much time to make own salad dressing, ketchup (tomato paste mixed with vinegar, salt, spices), mustard. Oven roasted chicken is very affordable, you can make salad and great soup from leftovers. It sounds like too much work, but in reality, if you make a big amount of something and freeze most of it, it is like you always have a choice in foods and don't need a snack bar. It is also convenient to put a boiling soup or a stew into a sterilized mason jar, close it tight and take it with you at the place where you may need a snack.
I admit that I often have dirty dishes in the sink. That doesn't bother me, but running the dishwasher without a full load would.
I go to a fairly expensive hair stylist, too. I have thick hair and the employees at cheap chain salons almost always chop it into a mess. I thought about giving up yoga at $10 a week (I save $2 a class by buying them in a 20-pack), but realistically, I got so tired of lifting weights that I'm not going to do it at home anymore. And I need to exercise.
On a blog Animal Farm the blog author Dr.BG mentioned she removed her implants. I hope it will not happen with me and you.
Implant crowns are actually stronger than real teeth, but I'm sorry Dr. BG had to have her implant replaced. Hopefully, it was just the crown--that surgery is no picnic.
I also had a good purchase - we have an Earth Fare nearby, they have on sale a gressfed ground beef for 3.97, I bought 5 lb. It is ridiculously lean, so I plan to add ground fat to it before freezing in butches.
Sorry if the remarks are slightly off topic .....
All the best Jan