(I thought that Thoreau said that word three times in a row in Walden but it was only twice. Oh well.)
Simplify, simplify, simplify. As in make things simpler. As in get rid of the minutiae that weigh you down. Here are some suggestions for freeing up money and freeing up time by freeing up your finances:
- Simplify your clothing. This may not work in every situation but can you get by without dry-clean-only or gentle-cycle-only garments? Or what about buying clothes that match more of the rest of your wardrobe? Or one brand of tube socks so that a lost sock doesn't render the unpaired sock useless?
- Simplify your hair. Again this is a matter or choice but a low-maintenance hairstyle costs less money and time than a really good looking style that needs attention.
- Simplify your meals. Cooking a bunch of servings of rice and varying the stuff you put on the rice means only needing to cook rice a quarter of the time.
- Simplify your bill-paying. Getting as many bills on automatic payment means fewer stamps, fewer envelopes, and fewer finance charges. Having fewer billable services accomplishes this, too; are there any that can be dropped? Can you bundle services with one provider and possibly save money in the process?
- Simplify your accounts. There are some advantages to having multiple checking accounts, multiple savings accounts, and multiple credit card accounts (as I found out this past weekend when my wife lost her wallet). If you have more than you really need to cover the bases, then canceling the unnecessary ones makes your life easier, and avoids possible expense in keeping the extra accounts open.
- Simplify your grocery shopping. Buying more groceries less often saves time and gas. (Just make sure you can use what you buy before it goes bad.)
- Simplify your family's activities. (This is one thing I'm finding I need to do.) What are the most important activities your family does? Have some of them become more trouble than they're worth in terms of time and cost? Dropping commitments can be very liberating, and money-saving.
- Simplify your career or business. (I'm working on this one, too.) There's something to be said for keeping options open with career choices but how many can you maintain? Just like pruning a bush helps the healthy parts to grow, cutting the losers in your career or business frees up resources to allow the others to flourish.
- Simplify your gifts. (This may be up for debate but hey, that's what the comments section is for!) Aside from your close family and friends, if you feel the need to give gifts, why not get a bunch of the same thing? This saves a ton of time and could save money. I usually don't feel such a need but I know that's not everyone.
- Simplify your landscaping and decorations. Fewer things to take care of, fewer things to break, fewer things to clean and dust.
- Simplify your stuff. (I'm a pack rat in a long line of pack rats, so this is tough for me.) Stuff needs attention, commands attention. Stuff takes up space. The self-storage industry is booming, and it's printing money as far as I can tell. Pass your unwanted stuff on, and liberate that part of your attention to more important matters.
Any other things that can be simplified?
Simplify your phone services. Dump the long distance plan and other bundled features. Use a cheap phone card instead.
Wow, I just wrote a post similar to this, entitled 5 Ways to de-Clutter and Simplify Your Life.
I'm going through this process right now, removing things I no longer want. Other areas of my life are already okay, it's just those pesky possessions which seem to linger.
Otherwise, I've mostly done well. My wardrobe is fairly plain and I have no need to worry about what I'm going to wear. I have cut my own hair for 12 years. My meals are fairly straightforward and all my bills are automatic.
It feels great!
We are currently renting movies instead of going to the theater. Yeah, we aren't up to date on the most recent movies, but we are saving money in the process. We also have been spending more time recording movies with Tivo, and not going out so much. Now we just gotta start cooking at home more often.
Great list! It is amazing how stuff requires attention. One way I've simplified my shopping is by going to the library. Borrowing rather than buying books has really helped out my budget.
Good list. I think one of the biggest money savers – especially for women – is simplifying your grroming rituals. Most women spend hundreds of dollars a month on professional hair cuts and colouring their hair, getting their eyebrows and nails professionally done, and tanning, not to mention the ridiculously marked up beauty products, like cellulite creams and wrinkle creams, that just don't work. It's just a huge waste of money in my opinion. A low-maintenance approach still looks great and will save you thousands each year.
I'm real big on saving this time of year (Holiday shopping season, that is), so I have to cut a few corners on my end to make sure that the present list is not only fulfilled, but I'm putting thought into it to make sure that these are the type of gifts that don't go into the "return" pile. As far as simplifying my clothing, I'm a big proponent on this. There is absolutely nothing wrong with having a set of 10 blouses, 10 pants, 10 skirts, and 10 sets of accessories (shoes, jewelry, etc.) for work. For personal time, nothing wrong with having a few sets of PJs, a numerous amount of t-shirts (that you can easily get @ your local Good Will), cheap sweatshirts, and a set of slippers to keep you cozy at home. For black-tie events, make sure to purchase dresses that not only look decent for the occasion, but double-up as what one would wear @ a typical semi-formal event afterwords (like a yearly banquet or what not). As far as meals, because I'm so busy I usually make them all on the weekend. This way during the week, my husband and kids are fed by the time I get home from work so I'm happy. As far as bill-paying and account-usage, I consolidated my bills a few years ago and literally live on debit, cash, and 1 credit card which was marriage of 4 different credit cards. Combine that with my mortgage and pre-conditioning out utilities such as electric and water, and I have a set budget for everything that's almost to the exact cent monthly. This way I can budget more disposable income (for gift-giving or going out 2x a month: One with the family and one for "date night"). Family activities are pretty easy since we are all involved in a family bowling league every Saturday afternoon between 2PM – 6PM (it's a 4-game league and the teams comprise of children and their parents). As far as my career, I live 2 blocks away from my office. Since I'm a co-owner of a small business, I have the flexibility to go home when I need to or go on appointments. This way I can re-schedule my work day to accommodate that without having to answer to anyone.