Comments for Cool Financial http://www.coolfinancial.com Finance Tips and Money Management Strategies Mon, 01 Dec 2008 18:26:31 +0000 http://wordpress.org/?v=2.2.3 Comment on Top 10 Ways To Cut Spending by bob smith http://www.coolfinancial.com/personal-finance/top-10-ways-to-cut-spending/#comment-4 bob smith Tue, 10 Apr 2007 03:45:39 +0000 http://www.coolfinancial.com/personal-finance/top-10-ways-to-cut-spending/#comment-4 "Your cell phone is probably all you really need... You could save $30 or more per month by dropping your “land line.” Actually you could save a great deal more by dropping your cell phone and keeping your land line. ------- "Use the “envelope system” for groceries, dining out, entertainment, and other discretionary spending categories." Last time I checked, food isn't "discretionary". ------- I'm sorry, but most of the strategies described above are nickel/dime and won't amount to squat over the long haul. There's nothing really wrong with them... they just won't change anyone's life in a significant way. How do I know? Because I retired early with well over a million dollars in assets three years ago - at age 51. And I never earned a big salary. Nixing lattes had absolutely nothing to do with it. If anything, it might be better to keep the lattes so you're more psychologically inclined to hold the line on big ticket items - that's where the real money is. There is far too much to cover here, but suffice it to say that achieving truly life-changing financial goals is not a game for sissies. And if you're going to be chained to a corporate desk until you die, you may as well spend every dime you make along the way on things you enjoy... because ultimately, that's the choice you're making. “Your cell phone is probably all you really need… You could save $30 or more per month by dropping your “land line.”

Actually you could save a great deal more by dropping your cell phone and keeping your land line.

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“Use the “envelope system” for groceries, dining out, entertainment, and other discretionary spending categories.”

Last time I checked, food isn’t “discretionary”.

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I’m sorry, but most of the strategies described above are nickel/dime and won’t amount to squat over the long haul. There’s nothing really wrong with them… they just won’t change anyone’s life in a significant way.

How do I know? Because I retired early with well over a million dollars in assets three years ago - at age 51. And I never earned a big salary. Nixing lattes had absolutely nothing to do with it. If anything, it might be better to keep the lattes so you’re more psychologically inclined to hold the line on big ticket items - that’s where the real money is.

There is far too much to cover here, but suffice it to say that achieving truly life-changing financial goals is not a game for sissies. And if you’re going to be chained to a corporate desk until you die, you may as well spend every dime you make along the way on things you enjoy… because ultimately, that’s the choice you’re making.

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