Scott,
I read your latest column and wasn’t that impressed with your ‘forget about it’ number of $100. Even though I earn $175,000 a year, I’m the type who hunts for bargains even if it’s just saving a few bucks. Sure, I won’t fund a house deposit by filling up on cheap petrol or buying half-price snacks, but that mindset has kept me from wasting money on non-essentials – and it’s worked. If I want to buy something unnecessary (like an omelette maker), I wait two weeks to make sure it’s not just FOMO, marketing hype, or a passing obsession with the perfect omelette. It would be good to hear about what non-negotiable rules might be more relevant to everyone else who reads your newsletter.
Sarah
Hi Sarah,
My idea is to create your own money rules that become habits … and that the best way to build habits that stick is to make them part of your core identity.
So I’m guessing part of your identity is that you’re smart with money (though your friends may refer to it as being a total ‘tight-arse’. After all, you’re in the top tax bracket but you’re out there bartering with the checkout lady over dented canned goods.)
But hey, you do you!
Frugality is great if it’s intentional and not just a lifelong habit of financial paranoia. My point isn’t to waste money – it’s to not waste mental energy on small purchases that don’t matter in the long run.
Scott.