You may remember me mentioning Mr. Money Mustache here before. I like his writing style and approach to money and life.
This post captures many of the things I feel and have found to be true. For me, his post was a valuable reminder. That said, I can only share what’s worked for me. Other things may work better for you.
So go ahead and read his post if you want, or read through my favorite quotes below.
“If you’re going to become rich, you need to either earn way more money than you spend, or spend way less money than you earn.
This is the basic math of it, which even the worst complainypants cannot dispute.”
“When people encounter this site for the first time, they usually see my family’s $25,000 annual spending number and assume that we have an extremely frugal lifestyle. “My family could never be as radical as those guys – Mustache’s ways are extreme!”, they say, “but we’ll implement a few small changes in our own way.”
…I’ve recently come to realize there is one way that we are extreme when compared to other families of similar background: we schedule a lot less stuff into our lives.
While others will buy an unlimited annual ski pass and ride the mountains every weekend, I’ll get a four-pack and make a single weeklong trip with my friends. Others will buy a cottage and split their time between two houses, I’m happy with one…
None of this is done with money in mind – it is done out of a desire for balance, free time, and a safety margin in life. By keeping our non-negotiable commitments to only 50% of our time, we leave the other 50% open for growth, self-development, and an ability to work much harder to deal with the black swan events that life inevitably serves up…And of course, the side effect this has on the money side has been very large as well.”
He recommends we ask ourselves:
“Will my future self appreciate having that much time taken away from him, when he might have other plans?
Of course, you can take future fixation too far and end up with a boring life today, but I correct for this by imagining a future me regretting a boring youth, and do my best to strategically misbehave at optimal levels today.”
Here are some of his tips for freeing up more time:
- Say NO to optional plans you can’t easily walk or bike to (and I would add – say NO to optional plans you don’t really want to do in the first place)
- Try having a weekend with nothing planned (maybe you focus on catching up around the house or doing what feels most enjoyable in the moment)
- Institute a “Purchase Procrastination Program” (delay purchases until you’ve had some time to really think about them and/or until after a big trip you’re really looking forward to)
- Declutter (freeing up your physical space frees up your mental energy)
- Cancel your cable subscription
Would scheduling less help you live more fully (and save some money at the same time)? What do you think?