#b90x - DAY 6 - Eliminate Financial Waste Experiment!

b90x

#201

It’s crazy how the small things really add up!
My husband and I started a monthly budget last month, and it opened our eyes to how much money was slipping through our fingers! Between morning Dunkin Donuts runs, energy drinks, and fast food, that’s some serious change that can go into investing in crypto. We can buy a coffee machine and just make our own, and we can meal prep on Sundays so we don’t have to turn to grabbing a bite from fast food.


#202

Great advice Peter. I personally don’t keep a tight record of my finances like I should. I check my online banking once a week maybe, twice tops. About a year ago, I started recording my daily expenses but it only lasted about a month and after that I just stopped because it was so tedious to write everything down but as I am getting more and more into cryptocurrency, I am starting to realize that if you don’t keep track of your investments, you are just blindly throwing money and in the long run, it’s not gonna be pretty.
Well, I’ll give it another try and hope I can stick with it this time!


#203

I spend far to much on take away foods, normally Friday & Saturday nights, I figure I can save about £120 per month by reducing the fast foods.
I have cut back on a lot of other things already due to try and keep my head above water, I am now hoping to put my saving to good use & by some more moon juice with it.


#204

My wife and I went through this process about two weeks ago. What a difference it had made. We budget weekly and hold each other accountable and have come up with an extra $200 a month to invest in crypto. I have to buy two tickets, so I need every penny I save to invest.


#205

Moon juice ahahahaha I’m getting me some of that


#206

I literally just updated my finances excel sheet before watching this lol. I am more than willing to give up luxuries for the year to DCA more aggressively to prosper by the end of the year. My only fear is the regret of not investing enough.


#207

Well, my wife handles the books at my house and we try to invest in crypto at least 10% of my earnings a month. Though we don’t spend much on going out as we’re vegan and there isn’t many restaurants in our area we do spend a significant part of our wages on groceries. Those organic strawberries cost a kidney!! But my kids and I can’t live without strawberry shakes! or ice cream, home made, which sometimes cost more than store bought?!! She doesn’t really do the shopping and I don’t have expenses like car payments. So today after listening to your Financial Waste Video we downloaded Spending App, lets trim the far a little more… fyi home brewing is cheaper than buying, IPA! I just have to stay away from the nitrous brew :wink:


#208

In my opinion the worst things are the monthly bills. Cut them out !


#209

Yes! totally agree, combining phone plans and killing our land line helped us. Aside from utilities were pretty streamlined. Any other suggestions?


#210

Way in debt from medical issues and lost wages. But I see a light at the end of the tunnel.


#211

Time consuming and necessary exercise here.
Just when you think you’ve been a tightass… put it on paper and the results say otherwise.
The most shocking piece of my expenditure analysis are my credit cards. Surprise, surprise. I worked my ass off paying these off and then discovered BTC. Yes, I used my credit cards to purchase BTC. Yes, I maxxed out my cards purchasing BTC and now Chase are coming after me with every transaction fee, cash advance fee and all the interest they can throw at me. I am totally under siege.

I’ve quit drinking and smoking in the last 3 years… So, no more of these ugly expenses. Yay! (even though, I always had a policy of never paying for intoxicants :wink:

Current problem areas and action that I am taking;
Reducing meals out to one per week, with no beverages, appertizers or desserts. Keeping them under $50 for a family of 3 is my goal. Save $300 per mth.
Unsubscribed to Coinigy as I’m not using that account. Save $20 per mth.
I lierally just cut up all my credit cards and threw them away in disgust.
Joined the public library to save money on Audible, Kindle and hardcopy books. A savings of $75 per mth
Will endeavour to pay bills on time, as to avoid late fees. Save $10 per mth
Cutting down on my vitamins. A savings of $300 per mth.
Avoid using the biz credit card for personal use. Yikes!!! What a mess!

Aside from tightening the screws on the budget, I’ve started taking action selling unused items around the house; from shoes to books to music equipment to cars. I’m liquidating the lot.

I do feel like I need to go deeper psychologically and have a look at some personal weaknesses around impulsive shopping and spending. I have been working hard over the years and have improved a lot. But, one single outburst can undo months of hard work, discipline and budgeting… and will put me on a corrective course for months. It’s like a deprevation/gluttony cycle. Self-sabotage and rebellion perhaps? A poverty consciousness? Maybe my subconscious feels I am unworthy of wealth? Maybe I just need to find a healthy middle ground where I feel less deprived on a daily basis. Am I compensating for some lack? Whatever it is, I will continue to meditate and study prosperity and work hard towards creating the paradigm shift that is necessary to break these destructive habits.

Overall though, I am saying goodbye to consumerism and hello to liberation. I don’t need “things” to make me happy. I just need my family, a nice camper, the open road and a nice beach somewhere in The South Pacific.


#212

currently maximizing what i can into cryptos and will try to use DCA moving forward


#213

This is something I’ve been doing since the 2008 meltdown, and man have I recovered well… first from the edge of the financial abyss, and now allowing me to invest into multiple areas of my life. I sometimes slip, but with my monthly financial review I ask myself, “how is this expense getting me closer to my goal?” And if I cannot answer the question correctly… I nip it in the bud. This is great advice!


#214

With 3 teenage boys its close to impossible to cut expenses. LOL!! I wonder how they would react if I cut netflix :exploding_head:


#215

i think im getting better with age at budgeting and wasteful spending on items i want but not need

a few things i can cut out of my life would be take out food and would be healthier for me as well
cancel a few subscriptions i don’t use

not so much on wasteful spending but im going to sell off assets i no longer use and just been hording in the garage ie dirt bike getting rid of waste i no longer use around the house and use that towards investments


#216

Yes, i am tracking my finance. And i found i was buying something that might be handy and useful for me, and it turns out did not work like what i had thought about. Next time, i will allocating those funds to buying cryptos… Maybe i shall post in this room when i done buying cryptos with those kinda funds that i used before, really it will be much more worthed… but atm, let the gone be by gone…


#217

I’m living pretty lean. I go by “pay myself first”. When I get my paycheck I’ll “pay myself first”. It doesn’t have to be big, but just as long as I’m doing it. “Pay myself first” doesn’t mean to go out and buy a toy. I’ve always looked at every dollar that I invest as an “employee”. If you want to accumulate wealth then you have to have a lot of “employees” working for you. I’m fairly new to the crypto game, but I’ve been “paying myself first” for years in the stock market and real estate.


#218

Day 6 – Eliminate Financial Waste

I track my finances each month on an Xcel spread sheet because my bills have due dates throughout the month. Plus, I’m a visual type of guy, I have to see it in writing.

Some things I could do without: my fast food munchies, my second vehicle, internet guru trainings (I could save some $$$ in this area). Everything else is pretty much required living expenses. I could cut the eating out but my wife wouldn’t go along with that…. Oh no, no, and no.

Checkbook is balanced and I know what’s left to spend. Blowing through Day 6.


#219

I make good money but I still had my income filled with careless expenses, so I tracked my expenses about a year ago ( majority was eating out). Last week I started in cryptocurrency and i have now budgeted 250$ a week that will be invested into cryptocurrency. I could still remove some eating out expenses but when your on the road working it’s sometimes difficult.


#220

I can cut out eating out. Buying unnecessary herbal treats and social gatherings.