Browsing through old notes on my laptop, I stumbled upon an old tally of rent from 2015. Between the two of us, Barron and I were paying over $1000 each month in rent and utilities. This did not include groceries, vehicle repairs, gas, clothing, going out with friends, etc. The basics.
$500 is the average cost for Barron and I to live now. We have no rent or utilities. Groceries and gas are our biggest money sucks. We don't buy new clothes because we don't have room. We invite our friends to us rather than going out. It's that simple.
In not spending the extra $500-$1000 every month, I'm effectively "making" that money as though I were working a full time job. Fun fact: I've never worked a full time job in my life (but have had my fair share of part times).
Aside from ice cream, I almost never pay money for things I don't absolutely need. Every month I'm able to grow my savings account with the money I've saved or made from my businesses in my savings account, and my checking account stays relatively the same, fluxing only a few hundred dollars a week given the circumstances of that period.
Occasionally I do spend money on big ticket items. I look at these items as investments. If I will not make money or gain life experience from the big ticket item, I will not buy it. I sometimes sit with the thought of purchasing a big ticket item for several weeks before taking action.
BIG TICKET ITEMS I'VE BOUGHT IN THE LAST 12 MONTHS
- Goal Zero 400wh Battery - $400
- Goal Zero 1000wh Battery - $900
- Goal Zero 30w Solar Panel - $80
- Goal Zero 100w Solar Panel - $250
- Subaru Forester XT - $4000 ($8000 total including the trade of the mini cooper)
- Canon g7x camera - $600
- Canon m50 camera -$800
- iPad Pro - $1000
- Yeti Cooler - $200
A little goes a long way. Living with less has allowed us the freedoms to purchase tools that further our passions, lifestyle and "careers", if you will. The easiest way for us to make money has been to rid ourselves of the addiction to it. We don't live for money and prefer to think about it as little as possible. It's working out very well.