In February my discretionary spending priorities shifted. Instead of thriftlessly spending on immediate wants, of which bring short-lived joy, I have focused on the pricier items on my wish list. The first goal was to save enough money to buy a high definition TV. I saved, I researched the product, and two months later I bought a 37″ Vizio flat screen TV. Thrilled with my purchase and armed with a newfound confidence that I can save money, I now embark on a second savings goal: a new desktop computer (I really like the Hewlett-Packard model with a built in TV tuner).
Is there a point to this story? I’m getting there. Not only did I save enough money to purchase an item that (at one time) was too expensive for my wallet, I also found out that being a saver means adopting a different lifestyle. The funny thing is that I didn’t realize this transformation had occurred until I overheard my mom tell someone that I was “frugal like my father.” Me, frugal? Since when? Then it hit me. I have been spending a lot of time at home, cutting coupons, only spending money when it was a complete deal or totally necessary. Face it. Mom is right, painful to admit, but true.
The lifestyle changes are different for every saver. You may find yourself haggling with sales people and being thrown out of stores for taking advantage of a good deal, like Josh from Wallet Pop. I have more closet space since I’m not bringing home new clothes from shopping trips. Instead I am organized and appreciate what I have. The best part about saving is the quality of my purchases. Systematically saving money every paycheck means I will have more money to spend on bigger items. I appreciate the power of my dollar and spend it a little wiser. When I do make a purchase I have done my homework so I find the best deal. Who needs 50 pairs of shoes when you can buy bigger electronics? The best lifestyle change is my attitude towards spending. Quality over quantity!
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This blog asks a simple question: "What are you saving for?" Its goal is to help people set savings goals, develop a disciplined and/or systematic savings habit, and build a corresponding community of like-minded people as a support network. By laughing, crying, and discussing how we each approach this topic together, we should find it much easier to save together. So what are you saving for?
What’s always amazed me is how big of an impact even small changes in spending can make. At the beginning of 2007, I competed in a “Biggest Loser” weight loss competition. I stopped drinking soda and stopped eating out at lunch. During those two months, I estimate that I saved almost $260 from those small changes alone. Annualized, that’s $1,560!
I lost the competition and regained the 20 pounds I had lost…but who’s counting?