"small" is a matter of scale relative to income and lifestyle, of course. However, when my peers ask me how it is that I afford to travel from country to country despite a meager income, I tell them the following. I dont have a trust fund or any sort of inheritence. I simply know how to save on over the course of a month:
1 pack of cigarettes per day: $150 1 night out at the bar on a weekend: $100 Casual use of beer during the week: $20 1 starbucks latte each work day: $100 Dining out a few days weekly as opposed to cooking at hom (the differnece in cost): $100
Total amount saved each month by not doing/buying any of these things: $470. After 6 months of this lifestyle I have a enough to travel a couple of months around the world, as well as money to fund my roth IRA and other investments.
I am posting this under the investing subreddit because I have found it all too often forgotten by even some of my most agressively investing peers. Cut out anything you can that is disposable and you have already done half of the work as becoming a successful investor. And by the way, I do realize that world travel can be considered a disposable expense, but I used it to mark a large cost example of what can be obtained by saving from smaller expenses.
Submitted January 17, 2018 at 07:09AM by masonsantorn http://ift.tt/2DdLXzi
