Frugality thead:work less, spend less

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Specializes in ER.

I want to gear down now, work less, live on less. My dear departed Mom used to say "A penny saved is a penny earned ". That came from Poor Richard's Almanac she told me, Ben Franklin's collection of wisdom.

Many nurses are caught on the hamster wheel, working a lot and living high on the hog. They buy expensive cars, houses, boats, RVS on credit, go on pricy trips, and work like dogs to pay for it, one illness or accident away from financial distress.

You read on this site how many of us are burnt out. In real life I see that as well, and know more about my coworker's lives. I see a lot of expensive and wasteful habits out there.

This thread is for those interested in a simpler, less consumerist lifestyle. How can we enjoy life more, with more free time but less money? Spending less time at the nursing grindstone might relieve stress too!

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Cooking meals vs. eating out is a huge money saver. If a meal costs $10, and you go out to eat 3x/week, that's $120/month or $1440/yr.

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Specializes in ER.

Buying drinks at a coffee bar is a budget breaker. A lot of people do it every work day. $3.50 x 20 times a month is $70 a month.

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Buying drinks at a coffee bar is a budget breaker. A lot of people do it every work day. $3.50 x 20 times a month is $70 a month.

I only do it because I feel guilty for studying at Starbucks without purchasing anything. No guilt now, though. It's owned by Martin's, and I'm their avid customer.

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I take public transport ($7 round-trip) to save on parking ($12-14 per shift). That'll be at least $780/year saved, and considering how long it takes to find parking and walk from a parking space, the time difference is negligible. Plus, I can read on the commute. I don't like coffee, so the in-hospital Starbucks has almost zero appeal when I can bring tea from home and use the hot water in the kitchen. I can't cook small, so I always have leftovers to bring with me. All the money I'll be saving will surely buy me a post-shift beer once in a while before I hop on the bus (hey, I need to break a twenty somehow).

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I make coffee at home... Then I buy more. Kind of defeats the purpose.

I try to make lunch and dinner at home as much as possible.

I pay cash for alcohol. :)

I am pretty much a homebody unless I go to my friend's house for drinks.

I haven't bought a new Coach bag this year.

I wear scrubs to work.

I splurge on mani pedis and my hair...?

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I get a lot of clothes at goodwill. They have amazing sales!! I got a brand new pair of nikes for $5.99!!

I get my kiddos clothes there too.

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I get a lot of clothes at goodwill. They have amazing sales!! I got a brand new pair of nikes for $5.99!!

I get my kiddos clothes there too.

Shoes are one thing I will pay for. I love a sale, but I'll spend on shoes as well.

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Oh, I stopped buying books. I'll ask for amazon gift cards for my kindle or I will borrow or go to the library.

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Oh, and I shop at Goodwill. I live in a wealthier part of town, so it's actually easy to find fashionable clothes. Plus, every other Saturday is 50% off!!

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Specializes in L&D.

This is a great thread! Im 23 years old and I"m doing pretty damn good compared to others my age. A few financial tips I've picked up as a result of growing up poor and being an avid consumer of Dave Ramsey and Suzie Orman are the following:

1. Never charge something to a credit card if you don't have the cash in the bank to pay for right then and there.

2. Work towards at least 6-8 months of monthly expenses saved. Until you have that, convince yourself that you are poor.

3. BUDGET!!!

4. Never finance a car for more than 36 months OR allow your monthly care expense to exceed 15% of your TAKE HOME pay. (Any more than that and you can't afford it)

5. Stop keeping yourself poor because you are trying to convince others that you are rich.

6. Living like the Jonse's is overrated.

7. Never charge more than 10-15% on credit cards and pay the balance in full every month.

8. (To my fellow young professionals, try to fully fund your 401k &/or Roth IRA now in your 20's. Compound interest is a friendly BEAST. You will be thankful when you are able to retire comfortably.)

9. Live WELL below your means. Try to live on 50-70% on your income. Save/Invest the rest.

10. SAVE SAVE SAVE.

11. Treat your self OCCASIONALLY. All work and no play makes for a very boring life.

That's all I have:)

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Specializes in L&D.

I also know my weaknesses, so I budget in my guilty pleasure. I am a FIEND for Chipotle. so I always set aside a little $$$ to cover that expense. If I use all of that, then TOO BAD! LOL

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