"[Don't] buy a new couch until you have become used to the new television." Holy crud, how about "don't buy a new couch until the old one breaks, AND you've paid off the television"?
Janzoof CA8:30PM November 25, 2011
Given that most Americans are heavily in debt and almost no one saves enough (especially for those of us who retire after Social Security goes bankrupt), what about lifestyle deflation?
Here's how I recommend that we get our lifestyles in check with our income:
- Don't replace until broken. Sure it would be nice to have the shiny new thing, but make due.
- When broken, try repairing. Many things can actually be fixed.
- Trade down 10%. Whenever possible try to make your next purchase less costly. For example, instead of spending $20,000 for your next car, spend $18,000 - you won't notice the difference, except the saving add up.
- If you have to shop, shop to save. Buy your coffee each morning ... shop for a coffee maker. Want a new look to your house ... buy energy efficient windows. Eat out to save time ... buy some kitchen gadgets to save time.
- Finally - if you like shopping on Ebay or Amazon, try Craigs list ... it usually less expense and you are recycling.
Reader Comments
Back to blog
Janzo of CA 8:30PM November 25, 2011
Daniel of MD 12:53PM July 21, 2010