#b90x - DAY 6 - Eliminate Financial Waste Experiment!



When I moved back to the UK last year I started living more frugally because I had all I needed in 1 suitcase and I was fine with that! I started living being a lot of conscious of my buying habits and constantly asking myself if I REALLY needed the thing in the shop (put it down, walk away, give it some time and decide later). I’ve ALWAYS worked out my monthly budget as soon as I’ve been paid. I think this has allowed me to live debt free (not counting student loans :confused:) and create a good habit of saving.

My non essential outgoings are my gym membership and trainer (217GBP a month…kind of a lot but something I feel comfortable investing in), protein powder (about 20GBP a month which is a cheaper alternative when you’re eating certain macros) and a phone bill (10GBP per month)…The phone bill I know I don’t need because I only use it for the mobile data which I don’t need because everywhere has wifi and I can message people on there.
The only other thing I know that takes a bit of money is travel which I have been doing every few months to see some of my closest friends. No plans to go away until December now so I’ll have a few months of solid crypto money.

I’m sure there will be more ways for me to save money. I’ve begun keeping all receipts from my food shopping to see where I can make some swaps…I know my favourite peanut butter is a bit expensive but…it’s peanut butter!


I’ve heard this is the best way to stop smoking!


I use a free app call Mint to track all of my finances. It allows you to set up budgets and see where you are throughout the month as you spend. Check it out! It’s been helpful to me.


Saw this one coming and had a big party last saturday spending waaaaaay too much :joy::joy:
I had a lot of fun but also could have put it in crypto during the monday bloodbath.

So I’m gonna live much more frugally until I have reached my goals and there will be plenty of time to live the good life after. It is like the marshmellow experiment where they give children the choice to eat one now or wait 15 minutes and get two. I’m planning to do this for about 3,5 years and on that timeframe I think money not spend today but invested in crypto will have grown by a factor 10x -100x. So yeah this is a biggie for me and I must do it now!


Main expenses- Food, Rent, Coffee (I’m an addict), Electronics, gym membership.

Elimations: Recently eliminated waste in car insurance and car. With the ability of living so close to work no need for those extra expenses.


  • Long term- be financial stable and to be able to out right buy things without needing to take out any debt. Yes, this includes home and auto.

  • Short Term- making more meals from home and brewing more coffee from home.


This is a great topic! One thing I love is budgeting… A few years ago I started using a program called YNAB (You Need A Budget), right now I can tell you how much I spent on groceries in March of 2016 if you want! I have about 40 categories…I break down every receipt to the penny. Every penny is accounted for. Every investment is recorded, including my crypto, rrsps, resps etc…In December of each year I print a report showing category spending and I can tell where we spend our money and adjust the budget as needed. It sounds like a lot of work, and at first it was. My wife and I have a “budget meeting” every week were we spend an hour and break down all our receipts.

I know right now, that fast food is the worst for me…I have cut it back significantly, but need to cut more, I am down to once a week now (Every Friday we go out for a work lunch, not quitting that haha).

The biggest waste of money to me is interest. Don’t waste money on interest!!! I save for trips and will not go until it is paid for as an example, don’t put it on credit.


This is a much needed assignment folks. Seen some great posts and interactions, and some true words of wisdom and advice from all angles. Keep it up!

So guys, I have real difficulty in doing this assignment. I have always lived life by this motto ‘Run towards your problems as fast as you can, for the inevitable will catch up with you’.

Now to put it simple guys, I have wasted my money for so long, I really have. I have fluctuated in being responsible and budgeting, and keeping excel charts of expenditure, but this is where I have failed. When an abundance of stress has arisen (and i mean a huge amount of stress and expectations upon me) I have neglected myself, finances and consequently others to compensate as a coping mechanism but knowingly that I am just literally WASTING my finances.

I have periodically consolidated my finances, and then periodically undone all the good work and sacrifice to rectify it. I have been fortunate enough to gain an earning which pays me well each month, as well as receiving monetary gain from vested interests.

However, and I can not be any more honest, I really have just flushed it down the toilet. I have always helped my family financially, and always been soft with a few closed loved ones, but only I can blame myself.

In life there is one problem, and solution; and that is me.

Specifically speaking as to where my money has been wasted, really is difficult to say, but it has been of self-indulgent spending, buying things that are not needed, buying items ‘to keep up with the Jones’.

Put honestly, this is such a fundamental factor I am truly amending now, and it is with pain to see where money could have better gone. But most recently, my earnings and profit have mainly gone to my family and the house we live in. So the change is in the making :slight_smile:

But guys, I have been a TOOL with money. I have learnt


On my timeline, my first crypto investment was July 19th. When I saw what could happen, by the last week of July, I was making absolutely serious lifestyle changes in order to maximize money going into investing. At first, my focus was on options trading, which I had started seriously doing the first week of July and I was still learning and practicing and making some of my first trades into the first week of August. By mid-August all focus was on cryptos and I was basically taking lessons learned from options trading and stock trading in general and applying it to cryptos. So mentally, I’m still pivoting somewhat away from stocks and into crypto. Actively watching to see how current stakes perform while learning more about other coins.

  • Point is, lifestyle change #1: incredible focus on learning. No monetary change in that activity, but extremely important change nevertheless.
  • Lifestyle change #2: both my wife and I stopped daily alcohol consumption and eating out 5 or 6 times a week (lunches and dinners throughout the week). Now we eat out just two dinners a week and order alcohol only on Fridays and we’re walking and talking cryptos and daily life every morning for an hour. That’s approximately $700, maybe $800 no longer spent monthly.
  • Lifestyle change #3: paid off the balances of two credit cards with large business contract finally concluded. That’s a little over $600 in interest a month now gone and 18 months in the making. The biggest sense of accomplishment of the year!

To put #2 into better perspective, for 5 years, I had been working very hard at growing my company so with the idea of driving to a 4 hour workweek by 10x’ing my output (Tim Ferris anyone?) to drive down hours a week worked from 50 ~ 60 to 30 or less while pushing my income upwards. Frankly, I spent the spare time just hanging with my wife and daughter and not really doing anything “new” business-wise. Now the trend is keeping the same 30/wk workload for contract work, but adding 20 to 30 hours a week into crypto learning and investing. This is necessarily an aggressive and short-term haul, but oh, so worth it and I firmly believe we’ll be handsomely rewarded for the blood and sweat of today in 3 to 5 year’s time if not less!.


Man. So glad you’re here @mwlang - it’s never too late to learn or pivot!


Guess what brotha? Tomorrow is a new day. Time to begin building your gear. Getting serious and getting that ticket to the big show! :rocket:


Man I admire your brutal dedication brother. It’s really inspiring to see!


Today informs tomorrow, yesterday defines today. Brother, i am grinding for that ticket to the big show. Big changes = access to a bigger picture, a bigger show! Its on!


Well, when you see something that is just about the most guaranteed thing you’ve encountered in life, you gotta seize it with everything you got and pull it in. I’ve let enough golden opportunities slide by without completely grabbing on and taking the ride. Sidelines are so passé. B-D


I totally relate. When I fully grasped what the future was going to look like, it literally blew my mind. I couldn’t sleep for a couple of days after I realized the full potential of this space!


I totally do not agree 100% with Dave Ramsey’s views but I have to admit his program got my finances in order. I now follow a hybrid version of his program and keep a complete spreadsheet along with my envelopes of cash. I am willing to share my spreadsheet if anyone is interested. It funny this came up as I DM’d Peter a few days ago to see if this topic was included because we always talk about only invest what you can afford to lose but until now no one really addressed how to figure out how much you can afford to lose.

Prop’s to you Peter for actually including this critical step when getting into Crypto.


I did sit down and track my finances earlier this year. Once my bills are paid I have a minimum 50% of my income for savings and investments. I’m 50/50 into silver and cryptos. No Doge!


bellow are my goals:

  • I just stopped an online service ($15/m)
  • Destroyed a VM on DigitalOcean not in use ($10/m)
  • Coffee (~ $100/m)
  • Ganja (~ $400/m) - I am not going to buy any to save all this money.
  • restaurants (Try to reduce in half going to restaurants ot taking out food ~ 200)

I am using Mint.com and I wiull try to identify where I save more.

My Wife and family will make me accountable.


There are a bunch of programs out there to quit smoking. Plenty of them cost money too. I’ve done it three times. Each one because of a different woman. Heh. Long story.

I’ll give you my way free on the off chance it could work for you or anyone else reading this. What I found out was that I could never quit in the middle of the day, but what I COULD do was not to have the first cigarette of the day. And if I failed and had one at any time during that day, then go ahead and smoke the rest of that day. Then do it again tomorrow. Don’t have that first one. Only a couple of failures into it and whatdya know, I didn’t have that first one all day today. Wash, rinse, repeat. Worked for me. YMMV


hmmm…I am thinking. I cook all our food…I don’t drink coffee except at home. I don’t go to food marts. I rarely shop (except for food) but when I do I spend at least 50 bucks. Of a truth, though, I would really rather buy cryptos. I have been wanting to keep a tally of my spendings. I can do this! I am curious about what I come up with, too!


Before finding crypto i had already eliminated 95% of my wasteful spending to become debt free which my wife and i accomplished. Aside from mortgage, which isnt much now and i am currently making some moves to eliminate that. My wife and i have already set up a monthly allowance for investing into crypto.

However still a few expenses i need to cut:
I quit smoking cigarettes year and half ago but switched to Ecig so thats $30 a week or $1,560 a year
Pop is another wasteful thing i spend on and thats about $9 a week or $468 a year
Grand total of $2028 a year i could be putting into crypto.

Other than that im looking at liquidating some physical assets to invest and i have been seriously considering that lol.