Frugality thead:work less, spend less

[Emergent]

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!

[nursel56]

You can live without cable TV! I live in a major west coast metropolitan area, so I'm not sure about availability everywhere, but good content on over-the-air TV is growing by leaps and bounds plus it seemed like certain cable channels were passing lots of re-runs around instead of creating new shows. A few of my fave broadcast channels.

Decades TV hosted by Bill Kurtis runs history programming interspersed with movies/shows from the era.

Escape TV has Snapped, Forensic Files and other crime fare plus cheesy, yet entertaining crime movies.

Get TV sort of like TCM with lots of commercials

GRIT like the above but with Westerns and War Movies

Works like above with lots of movies produced in the UK

Buzzr retro game shows

Also all your shopping channels but stay away or you'll spend as much as you were for HD cable and premium channels

[Anna S, RN]

I'm 60 years old and have never had a manicure, pedicure or any of that other stuff that sucks your $$ away. Mr. MaryJean and I have paid cash for two associates, four bachelors, a masters and a doctorate degree (between us and the little MaryJeans). We have a small mortgage left, and ZERO other debt. Enough in our retirement accounts to live comfortably until we croak.

Hard work and doing without stupid crap got us there.

You go, nurse!

[Anna S, RN]

I am watching this thread!

Due to a major life change, my income is down to less that 1/4 of what is was a few years ago, and I'm having to cut back and budget for the first time in decades. I still work full time, but want to retire @ 65.

I'm over 50.

I have zero debt, and have a good chunk in the bank.

I no longer buy the pricey gourmet groceries that I used to.

I bring coffee and food from home to work. I've cut way back on eating out. I really miss it, though.

I shop at thrift stores, Ross, and Walmart. My car is old.

I'm looking forward to reading all of the responses to this thread!

[RNperdiem, RN]

I think frugality starts with the big expenses. If those are under control, then manicures and fancy coffees are fine; extras can be dropped anytime and are not a fixed expense.

For me it was a community college nursing education that allowed me to work my way through school and graduate without any debt. My siblings carry a lot of student debt and that does impact your life.

I married a husband who is frugal- you can save all you want, but a spendthrift spouse will undo all of your hard work.

We still live in the same house we bought many years ago when we were first married, no need to upgrade when you are happy enough with the house. Our frugal habits that we learned early continue even though we are affluent. The house feels like summer in the summer and like winter in the winter. Cold? Go put on a sweater.

[Emergent, RN]

I was considering investing in a cheaper heating system. I currently have an electric furnace, not the most economical even with our relatively less expensive Pacific NW electricity.

What do you think? Heat pump vs geothermal heat pump, vs propane?

[TriciaJ, RN]

I think frugality starts with the big expenses. If those are under control, then manicures and fancy coffees are fine; extras can be dropped anytime and are not a fixed expense.

For me it was a community college nursing education that allowed me to work my way through school and graduate without any debt. My siblings carry a lot of student debt and that does impact your life.

I married a husband who is frugal- you can save all you want, but a spendthrift spouse will undo all of your hard work.

We still live in the same house we bought many years ago when we were first married, no need to upgrade when you are happy enough with the house. Our frugal habits that we learned early continue even though we are affluent. The house feels like summer in the summer and like winter in the winter. Cold? Go put on a sweater.

I can relate to the spendthrift spouse. I had one of those. Life was a nightmare. As soon as I was on my own again I made up for lost financial time. Now I have a nest egg, a supportive and frugal partner, and no debt. And amazing peace of mind.

I've known a lot of people who live cheque to cheque to pay for all their nice stuff. I think it's a self-imposed form of slavery.

[joanna73, BSN, RN]

I'm also of the mindset work less, spend less. I am currently working full time and saving 45 percent of my monthly earnings.

How?

I can walk to where I work.

I shop at the dollar store.

I don't have cable or internet, except the data on my phone.

I don't buy clothes, makeup or useless odds and ends. I buy items when I need them, and wear minimal makeup that lasts 4-5 months.

The key is writing out a budget and sticking to it. All the little things add up. My downfall is eating out, which has diminished significantly over the last few months because I do enjoy cooking.

Always ask yourself: is this a need? Or a want? Couldn't agree more Tricia. The nice stuff is self imposed slavery. No thanks! I'd rather have my savings and some options in life.

Also, when I bought my house, I spent much less than the amount I could have borrowed. I'm not willing to throw away hundreds of thousands on mortgage interest.

What else?

Never had a manicure or pedicure. Waste of money.

Electricity? Shut the lights off except for a small lamp. I have huge windows, so lots of natural light.

[NurseIndependa]

Newlywed & new nurse here. My spouse is active duty military so he does not make much but makes up for it in benefits & basic housing allowance. I did take a Dave Ramsey class before getting married. Although I did not agree with his view of not needing credit cards, I liked most of what he said. I am maxing out my 401k and trying to save as much as possible. We are trying to buy a house next year for much lower than what we are approved for & I am looking at cheaper grad schools (in state or offering discounted online tuition).

My biggest every day save is bringing my own food for work. My preceptor mentioned how she can't afford to pay for her daughter's community college classes, yet buys lunch every day at work. Spending $15-20/week for food can cost upward of $750/year... that's one class right there! And for coffee: I buy cheap bottled coffee at the commissary and bring that with me to work. It does the trick.

[BuckyBadgerRN, ASN, RN]

I wish public transportation was an option for me. I don't have to pay to park, but I hate buying gas!

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).

[NurseGirl525, ASN, RN]

My house has been paid off since 2010. I paid cash for my car about a year and a half ago. There are many places I do cut, a few that I could do better on. I eat at home as much as I possibly can. I cooked out on the grill all summer. Probably about 3-4 nights a week. It's way healthier to do that. One of my favorite meals is sloppy joes and homemade french fries. It is so super cheap to make. My son likes it when I make pasta at home, also super cheap to make. I also make these homemade pizzas that I buy for a $1.69. They are so good. Plus, I get to make the pizza the exact way I like it. That's huge for me. My son absolutely loves them too. So, it's a win-win all around. I make a mean pot of chili in the winter. Not expensive at all and I make a huge batch that will last me a few days. The only time I ever eat out is when I go down to my boyfriend's house. He's your typical bachelor and does not really have the cooking utensils I need. He eats out every night. I could never do that because I honestly get sick of fast food and restaurant food. I really just like to eat in and cook everything the way I want it.

My boyfriend and I do like to drink wine. But we like the cheap wine so we are lucky. There's a local winery that we absolutely love and buy their wine for about $5 a bottle. It works for us.

I do not buy anything that I cannot pay cash for. I have one credit card that I pay the balance off every month. My ex destroyed my credit and the only reason I have one is to bring up my credit score so I can get a job next year and I know many places check your credit. But my schooling and everything is paid for with cash. I go to a local community college so it's not expensive at all. The total cost of my degree is going to be around $10k which is pretty darn good. But if I am at the mall and I want something, I don't buy it if I can't pay for it out of my checking account. I don't need anything so bad I have to put it on a card. It's more important to me that I pay all of my bills on time.

I make all of my decorations for my house. I use my empty wine bottles and corks recently to make some cute things. I'm very crafty. I was in JoAnn Fabrics the other day and they wanted $30 for these decorated pumpkins!! They were super cute but come on, $30, no way!!! I bought items to make the exact same thing for around $13. Less than half. I make all of my own wreaths for fall and winter. The prices they want at Hobby Lobby and JoAnn are $75-$150 for a wreath. I won't pay that. I can make a much cuter one myself for a quarter of the price. People have told me my house looks like it is decorated from a magazine and cannot believe I make it all myself. I have had several people request that I make them my upcycled wine bottles. I'm making a set for my friend as a birthday present. It's cheaper than gift cards. I make most of my presents I give away for Christmas also. My family loves them.

I have a friend who is a hair stylist do my hair. She gives me a good discount and I do stuff for her, like maybe babysit her kids or something like that. I do get my hair done every 6-8 weeks. It keeps it healthy and shiny which is important to me. I also take care of my skin, especially my face. I only get one, so I had better take care of it!!!

Target. Don't we all love Target? Download the cartwheel app. Scan every item to see if there are additional discounts. I also have a Target Red Card. It comes directly out of my checking account but by using it, I save 5% everytime I am there. I also look to see if I buy multiple of an item, is there a gift card? Certain weeks with dog food and beauty care products if you buy say 2 of the dog food, you get a $10 gift card to use the next time, if I buy 4 of my body wash, I get a $5 or $10 gift card. I use them next time I go in. So between cartwheel, my Red Card, and the gift cards, I can some weeks save over $50 on my purchases. It adds up, I promise.

Cupcakes and such. I bake everything at home. I do not buy cupcakes or deserts in the store. I bake it all for a fraction of the cost. My son's school still allows home baked goods, so I bake everything from cupcakes to sugar cookies for parties. I also make my own fruit salads. The grocery stores sell already made fruit salads for an unbelievable cost. I make my own. Sometimes, the meat counter is cheaper than the shelf. Always check the prices at the meat counter. Better meat and a smaller price.

Those are a few of my tips. I'm not perfect by a long shot, but doing these little things every week allows me to screw up once in a while or go and splurge on that Coach Purse I want. I was at the outlets a few weeks ago and got a killer deal. And I paid cash for it. The biggest piece of advice I can give is do not get sucked into credit cards and live beyond your means.

[Jules A, MSN]

I'm not to the work less phase yet, but do plan to retire by 62. In addition to the things others have posted like bringing my lunch which is cheaper and less calories there are two things I have done that I feel made a major difference in my financial state. I have always bought ugly, rundown houses in great neighborhoods and paid them off early. When I move out I either rent them out or have sold at a nice profit. For cars I buy new but we keep them until they absolutely die and if I finance them I pay them off in a year or two. I loved the point made about finding a spouse who has a similar philosophy. It has been an immense comfort over the years in my marriage knowing that we are on the same page financially.

Now that I'm older and making considerable more money I am taking nice vacations but other than that don't do too much differently. My regular splurges continue to be caring for my animals and my hair highlights which I have always done.

[imintrouble, BSN, RN]

I live a very simple life. My husband and I rarely go out. We have family that visits frequently, and they're like us.

I never buy take out at work. Coffee's free at the hospital. I buy my scrubs at WalMart. We ad match at WalMart. We shop sales.

We stock up when things are on sale. We use electric when propane is expensive. We use propane when it's the cheaper choice.

We wait to turn on the AC and the furnace. My husband can fix almost anything, and that saves tons.

We drive our cars til they die. I think it's pretty cool that I can count on one hand the cars that my husband and I have bought together.

We're closing in on 40 years of marriage.

We spent the first 20 years of our marriage living beyond our means, drowning in debt. We've spent the rest of our married lives paying it off. We won't have much beyond SS, and a small pension when we retire. I think that'll do just fine.

As I've aged, my need for THINGS has diminished.

I remember days when I'd cry because we couldn't pay the bills. Even though we both worked full time.

Never again.