ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

How to Save Money and Become Rich(er)

Updated on October 22, 2015
€3.85 - what can we buy from this? Can someone send me nice (own) pictures of Dollar coins?
€3.85 - what can we buy from this? Can someone send me nice (own) pictures of Dollar coins? | Source

Would You Be a Miser

If you would become RICH from it?

See results

Many a Little Makes a Mickle

During my professional career I learned that many a little makes a mickle (or muckle). The brain has the tendency to scan a list of numbers, pick out the big picture and overlook the many small numbers.

But the many small expenses result in much larger total amounts than we're initially aware of.

Managing personal finance properly is not easy, since paying with a cash card has become common practice. Paying with only cash money is much easier to limit. Especially when you put cash in several jars.

I am Dutch. Dutch have the name to be the most stingy and frugal people in the world. We have in Holland even special misers clubs - called De Vrekkenclub.

I guess everyone knows the proverb Going Dutch.

Compare These Two Bills

(click column header to sort results)
Bill 1  
Bill 2  
0.04
0.79
10.99
0.69
0.05
0.59
0.08
0.89
0.05
0.69
0.03
0.89
0.01
0.69
0.02
0.69
0.04
0.99
0.07
0.89
0.03
0.69
0.01
0.99
0.07
0.89
0.04
0.69
0.02
0.49
11.55
11.55

Which number caught directly your attention? The total sum of both lists is equal, but they look different, hey?

It's fully human that you only try to save money on the one number that caught your attention. We all know which one it is.

Saving money on bill 2 is not so easy - where to start? Therefore you must use budgets in your household. No matter how cheap it looks - if you haven't budgeted it, don't buy it. And buy only what you need on the short term.

He that can not keep a penny shall never have many

5 Cents - What Can We Do With This?

This penny looks like nothing, but many of these can make you poor and/or rich. They come and go unseen.
This penny looks like nothing, but many of these can make you poor and/or rich. They come and go unseen. | Source

If You Haven't Budgeted It

Don't buy it then. No matter how cheap it looks. Look again at the two tables above, in some way your brain doesn't seem to digest the small numbers in the right column. Therefore is the main rule - if you haven't budgeted it - don't buy it, no matter how small.

Will your life turn into a counting hell? No, sure not. I will show you were the fun starts.

Two Ways - Earn More or Spend Less

Which one do you prefer? Most people are trying to earn more, which in most cases won't solve the problem of the negative cash flow. Higher earnings result in most cases in higher spendings.

Your time is the most valuable you have, so you can also try to spend less and cut costs.

Source

Major Cost Items

The list of the most common expenses:

  1. Mortgage or Rent
  2. Car (loans) and Fuel
  3. Food and Household
  4. Clothing
  5. Energy bills
  6. Health Care
  7. Recreation

#1 - How to Save on Food

  1. Determine your week food budget and withdraw this cash once a week from your bank account.
  2. Safe this cash in for example a jam jar.
  3. Scan advertising brochures of groceries in your neighbourhood,
  4. Make always a shopping list before you go to a grocery store and stick to the shopping list.
  5. Estimate the total amount of your shopping list and take only this amount with you.
  6. Don't buy discount products you don't really need on a short term.
  7. Limit your supermarket visits to two times per week.

The average weekly spending of an American household on food is $151. We spend only $85 per week, while we live in abundance.

Savings: approximately $3,300 per year.

This is what we bought this afternoon at the market for around $9.50: 8 limes, 9 oranges, 2 melons, 10 apples, 2 leeks, 5 beetroot’s, 2 eggplants and one pound green beans.
This is what we bought this afternoon at the market for around $9.50: 8 limes, 9 oranges, 2 melons, 10 apples, 2 leeks, 5 beetroot’s, 2 eggplants and one pound green beans. | Source

#2 - How to Save on Clothing

Second Hand stores have often very nice new or nearly new clothing and shoes for a fraction of the new price. We regularly perambulate three to four Second Hand stores in one round looking for the clothes and things we really need.

What you can do is make a list of Second Hand stores in your surrounding and make regularly a round trip along these stores - on bike. You'll have a nice healthy time, while you’re spending nearly nothing.

Our wardrobe is abundant, while we don't spent more than $200 per year on clothing and shoes. We always try to make bargains with the sales person, even on items of a few Dollars.

The average American household spends approximately $3000 per year on clothing and shoes.

Savings: approximately $2,800 per year.

Your Own Vegetable Garden

Your own vegetable garden doesn't have to be large. Just between 400 to 1000 ft2 is already large enough to eat vegetables during three months.

Growing your own vegetables is much healthier and tastier.

Savings: Up to $150 per year.

#3 - How to Become a Miser

Here are a few tips from the Dutch Misers Club, called De Vrekkenclub. The basic rule of the Vrekkenclub is that a real miser is never ashamed for his/her behaviour.

  • Take all leftovers with you: milk cups, sugar bags and food.
  • Never throw away food. You can make from a few little leftovers a whole meal again.
  • Stoop for every penny you see on the street.
  • Reuse paper for making shopping lists.
  • Cut the tubes of toothpaste open when they're almost empty. There's still for a few days left.
  • Never buy something that's not on sale. If you really need something on a short term, go to look for it in Second Hand stores.
  • Never buy something you don't really need.
  • Go at the end of the day to the market for fruits and vegetables. Most market vendors want to get rid of their merchandise. You can buy for less than $10 fruit and vegetable for the whole week. Be critical on the quality!
  • Take used envelopes to send your post. Write on the front your own address on the back the address of the person to whom you want to send the letter. Paste no postage stamp! Strike through your own address and write refused return to sender. Put your letter in the envelope, close it and put it in the mailbox.
  • Never give rounds in taverns. In the worst case - go Dutch :)
  • Unpack presents very carefully, so you can reuse the packing paper. If the paper is wrinkled, you can iron it. Don't forget to put a towel between paper an iron.
  • Read books you've got as a present very careful so you don't damage them. You can give them as a present. If you've by your stinginess no friends left - you can still sell the book.
  • Give as much presents away you've gotten yourself.
  • Never give tips.
  • Take a shower only every two or three days.
  • If you wash your hands, use as little water as possible.
  • wear your clothes for at least two or three consecutive days. This saves many expensive washes.
  • Stipulate always discounts, regardless the size of the amount. Don't feel sympathy for the seller. If you don't get your bargain - just leave the place.

Savings: approximately $ 2250 per year.

* source: Dutch Misers Club

Savings in One Year

Savings with this behaviour approximately $8,500 per year.

Conclusion - What Could be the Fun of All This?

Well, if you're married, have kids and your family isn't the same as you - this misers behaviour of you won't be stimulating for your family life.

But if in your family you're all in principle the same and like to live a little bit economical, you can have great fun during the misers practice.

After one year you've saved thousands of dollars that you can spend on things you want - like a holiday together once a year from the money you saved.

But you can also try to travel like Michael Wigge did!

If you have more tips from your own miser practice - you can mention this below. Thanks!


© 2014 by Buildreps

Comments

    0 of 8192 characters used
    Post Comment

    • Buildreps profile imageAUTHOR

      Buildreps 

      3 years ago from Europe

      Thanks for your comment Colleen. I guess that women and shoes were always a good combination, but not for the wallet:)

    • Colleen Swan profile image

      Colleen Swan 

      3 years ago from County Durham

      Some great tips here. I wish I had the willpower to save, things are usually OK until I go into the shoe shop. Nice article.

    • Buildreps profile imageAUTHOR

      Buildreps 

      3 years ago from Europe

      @Hendrika, thanks for your comment. Perhaps you've some new tips to add to the list?

    • Hendrika profile image

      Hendrika 

      3 years ago from Pretoria, South Africa

      A few very good ideas here, only, for some of us we have already made those changes to save money because of the bad economy and with them we are barely making ends meet!

    • Buildreps profile imageAUTHOR

      Buildreps 

      3 years ago from Europe

      Thanks for your comment, AliciaC! Hope you enjoyed reading this Hub. Thanks to your comment I reread this Hub and discovered a few misspellings :)

    • AliciaC profile image

      Linda Crampton 

      3 years ago from British Columbia, Canada

      There are some interesting and very useful suggestions for saving money in this hub, as well as some amusing ideas!

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)