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Early Retirement SG

How to easily reduce your expense by doing nothing

27/6/2018

1 Comment

 
It's really quite easy to reduce expense. I'm surprised no one really talks about it. 

The easiest way to reduce expense is by doing nothing...
No... literally. Just do nothing. 

And it'd be fun if I just ended my post here. And readers would be like all up in arms. 

But that's really how our expenses have been reduced. 

Our weekly routine is... 
She goes to work, I stay at home.
She works so it's normal for her to spend some money on food. 
I eat some simple bites for lunch and cook dinner.
Food at home is free cos one day of the week I go out and collect/find free food. 
We don't go out on Friday nights. We're getting old and boring. Just hanging at home watching Youtube is good enough. 
Saturdays we visit both our parents starting at 9am. Our parents provide all our meals for the day.
Sunday we are usually lazy to go out and eat and rest at home. 
Saturday or Sunday we go to Cold Storage to buy some additional groceries using the AIA Vitality app.

And very rarely do we deviate from this routine. 
Unless we are overseas on her biz trip or on vacation. 
Or sometimes we go out for nice meals. 
And usually we don't buy other stuff. 

And so the question becomes... what so hard about doing nothing?
In fact it now makes even MORE sense to subscribe to Netflix. 
If Netflix will keep you home on weekends to prevent you from spending even MORE. 
Like if you usually go out to eat an expensive meal costing $100 for 2 pax per week, $400 per month.
But if you subscribe to Netflix, it may be a cheaper alternative than going out on weekends. 
Unless, of course, you subscribe to Netflix AND still go out... Then double whammy!

And I wonder... what to other people spend on ? Or what do they do on weekends? 
How do they spend so much? What do they do to spend so much?

To save money, just do nothing. 

The thing about this is that a lot of people will misunderstand this statement. 
The point I'm trying to make is to understand that there is a lot of clutter in our lives. 
We all add on bits and pieces here and there, parts we never even knew we added. 
Oh I have to do this, oh I have to do that, so and so did this, that's so cool I also want to do it. 
When actually, there is really not very much that's needed. 
And it's so easy to get caught up with all our daily activities that we don't realize that all we really need is just a few necessities. 
And everyone is always so busy. Filling up their lives with activities, things, it's like a whirlwind of activities. I see my friend's Facebook, they are always out, eating at different places, traveling, cooking new things, baking, etc. And that's all cool. 

But if one day you wonder. How do I spend so much, where does all my money go to? 
Or you suddenly want to reduce expenses and don't know how? 
The simplest solution is really... just don't do anything.
Just stay at home over a weekend and eat instant noodles or chicken rice or wonton mee for Saturday and Sunday. 
I'm quite sure that for a lot of people. Just staying home over the weekend would easily cut their expenses by a couple of hundred dollars for that month. 
That's assuming they don't reallocate the funds to the following weekend. 

By the way, staying at home and baking over the weekend is NOT considered doing nothing. 


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1 Comment
Sinkie
27/6/2018 01:25:29 pm

Do nothing ...... duhh yeah.

Problem is people don't want to be activity-less (& look like losers) or be stuck in the same old place like penniless old folks in 1-rm rental flats who don't go out becoz no $$$ to spend. LOL

It's a mindset & societal norm thing.

Actually there are parallels with investing. Many of those who achieved multi-baggers are those who buy a bunch of blue chips, re-invest the dividends, sit on them & do nothing for 30-50 years.

There's a famous story about Fidelity doing an analysis of customer accounts in 2016 to see which group of investors did the best. Turns out it was those customers who totally forgot about their accounts & simply let their stocks & mutual funds sit there & compound for decades.

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    Graduated with a degree majoring in Banking & Finance, Financial Adviser for a period of time resulting in in-depth knowledge of insurance products and marketing techniques of the industry.

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    Decided to embark on a mission to retire early in Singapore, a place where such an idea is considered impossible. As I believe that life has a lot more to offer instead of just a working career. I've decided to start a blog to note down my journey to achieve this mission and help others along the way who are willing to listen and try doing things differently from everyone else.

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