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27 Small Sacrifices To Help You Win With Money

May 10th, 2011 at 10:17 pm



The original post can be found here: Debt Free

-Have you ever asked an Olympic athlete what it takes to win the gold?

-Have you ever asked an entrepreneur what it takes to grow a wildly successful business?

-Have you ever asked a sweet old couple that has been married for 50 years what it takes to stay together through all the ups and downs?

If you haven’t asked…you should. These are examples of people who have overcome the odds and accomplished something great. And when you ask how they did it, near the top of their list of answers will be the word “sacrifice.”

“I think that the good and the great are only separated by
the willingness to sacrifice.”
~ Kareem Abdul-Jabbar

So what are your great financial goals?
To save money for an emergency fund…to become debt free…to save for kids’ college…to start a business…to pursue your passions…to plan for retirement?

Whatever your goal, this truth remains…if you want to win with money it’s going to require you to make some sacrifices. Nobody wants to make sacrifices. Nobody wants to delay pleasure and gratification. But if your goal is truly important to you, the sacrifice is worth it! And keep in mind, these are short-term sacrifices that enable you to meet your long-term goals. This is doing the hard work now so that you can reap the benefits later. When you get to the finish line (meeting your goal), you can look back and know it was all worth it.

This list doesn’t cover everything, and these may not all apply to your situation. But in order to help you begin to consider specific sacrifices you could make, I present to you:

27 Small Sacrifices To Help You Win With Money

1. Cable/Satellite TV - I know…I know. It’s hard to think about. But maybe you could at least switch to a less expensive package.

2. Your Land Line Home Phone – More and more people are living without a land line.

3. Gym Membership – If you have a membership and aren’t going…cancel it. Even if you are using it, consider working out at home.

4. TV In Multiple Rooms – Do you really need satellite or cable TV in the bedroom? In the kids’ rooms? In the guest room?

5. Your Cell Phone Plan – Maybe you could cut down the number of phones in your household or drop to less expensive plan with lower minutes and text messages.

6. Your Car – Do you have a big car payment on a newer car? It may be time to sell and buy a less expensive, used vehicle. If your family has two cars, consider selling one of them.

7. Your Super High Speed Internet – Do you really need cable internet running at 20-60 Mbps? Chances are if you dropped to 3 Mbps DSL internet you wouldn’t even notice a difference. If you don’t know what Mbps is…you should definitely drop to a cheaper internet provider.

8. Restaurants – You already know that dining out at a restaurant is the most expensive way to eat a meal. Consider boycotting restaurants for a time…or at least limiting how often you dine out.

9. Lawn Service – How much would you be able to save each month if you cut your own grass?

10. Your ?????? Collection – How much money could you make by selling your collection of Beanie Babies, old records, tea pots or antique knitting needles?

11. Your Newspaper Subscription – Anything you can read in the paper is easily accessible online for free.

12. Hiring A Babysitter – Rather than hiring a babysitter when you go out, you could save that money by making an arrangement with another couple you know to swap babysitting. One week, they watch your kids. The next week, you watch theirs.

13. Climate Comfort – Can you cut down your electric/gas bill by setting the temperature in your home a few degrees higher or lower than your ideal?

14. Family Vacation – You may need to forego this year’s trip to the beach or grandma’s in order to accomplish your financial goals. Instead, plan a family “Stay-cation.”

15. Convenience Foods – Of course it’s easier to buy pre-packaged and pre-cooked foods. But you pay extra for that convenience.

16. Kids’ Extra-Curricular Activities – I know this one would be very tough. But kids’ sports and other activities can be very expensive. Your family’s goals may be worth having little Johnny sit this season out.

17. Your Magazine Subscriptions – If you aren’t reading them, cancel the subscriptions. Even if you do read them, would it be worth it to save the money and read free E-zines and blogs instead?

18. Movie Rentals – Instead of paying for your movie rentals, re-watch family favorites that you own or borrow movies for free from your local library.

19. Manicures/Pedicures – I want to tread lightly here and just say that it’s something to think about.

20. Adult Clothes Shopping – Being honest, most of us adults have plenty of clothes and could go without buying more for quite some time.

21. Auto Detailing – Instead of dropping off your car to be washed and detailed, do this work yourself at home.

22. Retirement Saving – This one may seem backward. But if your goal is to become debt free or save your emergency fund, it is in your best interest to hit “pause” on your retirement contributions so that all your income can go toward these more urgent goals.

23. Fancy Salon Hair Cuts – Just like with the mani/pedi’s I’ll be careful here. But both women and men can spend a lot of money at a fancy salon.

24. Kids’ Clothes Shopping – While kids undoubtedly need new clothes more often, you can save a bunch by shopping at thrift stores, consignment sales and discount stores.

25. Clip Coupons – I’m not saying you have to take up “Extreme Couponing.” But it may be worth the sacrifice of time to implement a couponing system for your household purchases.

26. Switch to Generics – Everything from medicine to groceries to laundry detergent comes in a generic version. Often you get the same quality with less fancy packaging.

27. Work Extra Hours or Get a 2nd Job – Is it fun? No. Will you be tired? Yes. But it may be worth the sacrifice to achieve financial greatness!


Yours In Freedom,

Clint



Join The Conversation…what are you willing to sacrifice in order to win with money?