One key to making more money
December 22, 2011 4:50pm CST
I am a big believer in working at a job that you love. Otherwise just quit. The problem is that what you love to do may not pay very well. There are many ideas for making extra money, but one of the most effective ways is to reduce your expenses. I go to the extreme. I chose to live in poverty. That way I can work at a job I love. I no longer have to work. I am free. I learned this from a friend, a guy with a master's degree, who chose to live in poverty in order to save gobs of money and retire early. Way early. By the time he retired he had learned how to live on practically nothing. He was, and is, self-sufficient and self-sustaining. He lived on a restored boat. No taxes. He had five ways to make his own electricity, stored in batteries. He had 12 volt appliances. He grew a garden near his mooring. He preserved veggies and had all the fish he could eat. He rode a bike. He bought a friend a pickup so his friend could maintain it but he would borrow it once a week. He had creative ways to get meals. He knew everyone in town, so he went to every wedding, party and funeral (equates to receptions and meals). He went to all the public picnics and church socials. He wrote a self-published book "Be a millionaire on minimum wage" which sold on the internet: 16,000 copies for $5 each. He really was a millionaire. He really did work for minimum wage. He found the most fascinating things in the dumpsters in town. He drove through town early on garbage day to get all the great, usable, fixable stuff people throw away. He resold it on ebay, craigslist, and his yard sales. I could go on and on. You get the point. The point is this... you can make a lot more money by reducing expenses than earning a few extra bucks on the side. OK, is this too extreme for you? ...or for your family?
22 Dec 11
I think it is almost impossible to do that here....we must pay gasses, tax, water, electricity, goods, holidays, health, insurance, pulses, internet, and many more....almost all need must pay. I guess, it's too extreme for me
• United States
6 Jan 12
I feel pretty stuck in the system, too. Yet I am reading a lot on how to reduce that. My grandmother used to tell me that in order to get to that point of self-sufficiency it would take a lot of hard work all day. She should know. She raised her children without electricity, sewage, water from a pipe or cars. I have this crazy dream that living more simply will somehow make me more authentic as a human.
3 Jan 12
I like your post i rarely read that kind of post here. For me, I will just live once in this planet so I will make myself happy by being glamorous and with that I will continue pampering myself with what will make me happy. As long as I will not hurt anyone I am free to do things I want. Your friend has his way of living and I think he is happy in what he is doing, it is his preferences so I therefore conclude he is happy for that, So be it!
23 Dec 11
Wow, your friend really did the extreme! :) He should be the ambassador of Greenpeas or other earth-friendly organizations for his effective way of recycling and re-purposing stuffs. I like your point there about reducing the expenses. This is the part that we have total control compared to having a salary increase or additional source of income. Like it :)
• United States
23 Dec 11
If that is the ways he wished to live his life, more power to him. Here on my home front, we have downsized too. We no longer have tv and we save 60.00 per month by doing so. We don't miss tv either. When a person really thinks about it, there is allot of stuff they can do without. We recycle and re-purpose every thing we can. The economy has effected allot of people but not us because we know how to do more with less. Being self sufficient is actually kind of fun.
23 Dec 11
i also try to save more money for the future specially now a days the electrical bills become more and more expensive and also the food expenses. My husband is working so hard to earn money but its not enough because of so many monthly bills thats why i try to be working student and even it so exhausting i also enjoy it because i can help my husband in our expenses and i can buy a gifts for him without asking money on him.
23 Dec 11
i think this is an extreme way of building wealth. for me, the best use of saved money is not for future use but in the present use. life is here not to deprive ourselves of its refinements and grandeur, but to enjoy them while we can. so for me, i prefer to look for extra income to be able to earn more and spend those money to enjoy more of life instead of restricting my life. this is aside from my regular job.
23 Dec 11
Oh I tried to reduce my family monthly (basic) expenses before... but it cannot be to my family of 5. We're just an average earning that decently living. I just limit my things to buy in groceries stuffs like junk foods. We just reduced sort of expenses by fully paying our mortgage when we had a money from job recession pay... and strictly "no loans and credit" policy. We don't want to suffer additional burdens if we can't pay off our bills monthly so we opted to live in a worry-free bebts. Thanks we had a change to make it happen! Reducing expenses by transferring my kids to public schools is not either our plan. We can still provide good schools for them for a better future. I'm not into public schools, As a parents, I just want my kids to get what we think best for them. No, we can't give-up the car. We find it necessity to our family. We bought it in full so, there's no problem for additional burden of paying. Just the gas we'll have for consumable and it's quite listed in my monthly expenses. We're using the car/gas perfectly with a limit. Once in a while, we go out. We don't want to deprive my kids longing for family pleasures. But I'm not on buying things for them just to make them happy. I have a smart parenting view towards them. Overall, yes I can say it's quite extreme! My hubby works hard and we save for our future too. We invested some money in insurance and mutual funds for retirements. It's really tough living in this world!