Teaching you to embrace today while making yourself a millionaire!

I wish I would have understood how easy it is to become a millionaire by starting to save small amounts of money when I was younger...

I feel compelled to share the simple concepts you can apply today....


08 July 2010

Fun vs. Financial Freedom Part 2

On Tuesday, we explored some scenarios that would enable one to save money while simultaneously allowing one to have fun and to "have a life."

The scenarios included:

  • Going out with cocktails with the girls.
  • Double date night with your best friend and his / her significant other.
  • Formal dinner party with the boss and his wife.
  • Planning a bridal shower for your sister.
  • Going to a ballgame with the guys.

So - how'd you do? Did you think of any options to keep these events a minimal cost?

Here are our thoughts:

Going out for cocktails / going to a game

This can get pricey with cocktails averaging $7+ a drink plus tip. Before going out - consider these money saving (and safety-conscious) ideas:

  • Designate a driver so that cab money isn't necessary. It's cheaper to pool together for a tank of gas than to pay a driver to drive everyone home.
  • Limit yourself to one or two drinks and then switch to water or soda.
  • Eat before you go out...this will save money on appetizers and junk food.

Double Date Night

Consider low-price alternatives to the traditional double date of dinner and a movie. How about the following:

  • Research local events. Is there a cool art exhibition that everyone would enjoy? Or perhaps movie night in the park?
  • Potluck! One couple provides salad and dessert, the other the main course.
  • Start a couples book club. Meet up at a local bookstore for coffee and discussion.

Formal Dinner Party

Who wants to spend a bunch of money on a fancy-schmancy event with people you work with! Consider these ideas:

  • Borrow or rent formal wear instead of buying. How often are you going to wear a $300 cocktail dress??
  • Mom says you never go to a party empty-handed. But, don't feel like you have to break the bank on an expensive bottle of wine. Ask the store clerk for a nice bottle within your budget.
  • Minimize the drinking so you can drive yourself home and not incur cab fares.

Bridal Shower

  • Go potluck. Ask guests to bring a dish to help with the food.
  • Go minimal on the decorations. No one is going to remember them.
  • Make the cake yourself.

What other ideas do you have?

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