Several thoughtful comments here suggested that personal economy would make a good diary topic. So here goes.
In 2005 I got a handle on living within my means. For 2006 my big New Year's resolution was to move beyond that and start living well below my means: cutting month-to-month expenses and accelerating my savings program. 12 months later, it strikes me as an even better resolution for 2007. To start things off, here are a few steps I took over the last 12 months:
- Replaced incandescent bulbs as they burned out with compact fluorescents
- Bought a stainless-steel insulated mug and started brewing coffee at home to take to work, rather than stopping at the coffeehouse
- Switched from soft drinks to water
- Quit eating out during the week
- Cooked meals in large batches and froze them in individual portions for lunch or supper
- Changed to a cheaper cell plan that better reflects actual use
These and other steps cut basic monthly expenses by several hundred dollars. That means thousands in savings that I simply wouldn't have had otherwise. Not to mention the peace of mind that goes with it. And I know there's more where that came from.
What are your best tips for living below--or at least within--your means?