Avoid vending machines and avoid keeping change in your pocket

If you're like me, I tend to spend money that is clinking around in my pocket. (Not anymore of course)

It reminds me of a big lifestyle change that I made about 5 years ago. I stopped using vending machines and hospital cafeterias. If you pour your money into vending machines, buying lunches, etc, it can be a huge cost. A lunch can cost around $5/day --> 25/week --> $1300/year (give or take a bit). If you multiply that by a coffee, newspaper, etc, then you are looking at around $10/day - around $2.5K/year.

Think of what you could do with another $2500/year - after taxes (if you are in the 50% income tax bracket, you probably had to earn 50% more to be able to spend $2500, given a tax rate of 50%)

Pay attention to leakage, financial leakage

Financial leakage happens, and it's up to you to find it.

Look for pocket change that is lying around. Look for excess bank fees or insurance premiums. Interest charges. Fees for services you don't need or use (internet, cellphone).

Look for ways to decrease those fees (phone the company and see if things can be waived).

You will find that things add up, especially if you look over an entire year. It might not add up to much on a daily basis, but over the year can have significant consequences.

Do you need a green lawn?

Do you really need to water your lawn? In Halifax, we are very accustomed to seeing rainstorms or rain showers after days of dryness. We often see people running outside to water their lawns during these dry days only to see that the rains come several days later. It's a waste of water and it uses up a precious resource.

We just water are flowers (using baby bath water) and wait for the rain to come water the lawn. We don't really mind a yellow lawn because it never stays yellow for long.

Of course, you can xeriscape and avoid all of this!

The Half Rule

This is something that is very interesting and could potentially alter your habits.

The Half Rule is essentially a rule were a mental game - depending on how you see it- whereby you try to cut back to 1/2 of what you just consumed or did.

That is....

- Could I have washed clothes on half that amount of detergent?
- Could I've only eaten half of that?
- Can I shower for half as long?
- Can I use half as much hairspray?

Try to challenge yourself on that.