It’s as pervasive as the wind, and it’s as old as the hills… Make a ton of money and retire early! Become Financially Independent and Retire Early. Master the market and become a day-trader. Invest in real estate and become a tycoon. More money, more sex, more parties, more… More… MORE!
Words are powerful. Quoth Edward Bulwer-Lytton, “The pen is mightier than the sword.” And these three words have more power than you might realize. When you utter them, chances are you are rushing headlong into an experience guaranteed to launch dollars out of your wallet like a T-Shirt cannon. You turn to your special someone and utter these magic words of spending commitment …
“Go… Out… For…“
Hey, would you like to:
When you “go out for“ an experience, you’re easily spending four times what you would at home for the products you are consuming. In some cases, it’s as much as ten times. How much does a cocktail cost when you mix it at home vs. paying $15 (before tip) to experience it “on the town” (three more magic words), at a smoke-filled bar where you can barely hear one another. “THIS IS GREAT, ISN’T IT?!” “NO, I THINK IT’S APPLE!!”
I realize there’s something special about going to certain places one can’t possibly, and shouldn’t try to, simulate oneself. “Let’s go out for a drag race”, probably shouldn’t ever be in the comfort of one’s own home. Seeing your favorite band on tour or a Mixed Martial Arts fight… not in my living room! But, do you really need to do those expensive things every morning/night/weekend?
And I’m not suggesting you never leave the house. Have a picnic. Get outside. Do Stuff! But the markup on experience services is so ludicrous, it’s a habit that’s worth breaking — even if you just start cutting back a little. Instead of “going out for a movie”, pop a bag of popcorn, watch some Netflix and chill. Instead of going out to eat, get the same meal “take out” in the park and save on the expensive appetizer, bottle of wine, dessert, and tip.
A small start by cutting back on just one type of frivolous expense a week can ramp up into sensible habits that stick with you and turn into serious savings over time. Who knows? Maybe by cutting back on lattes for while, you’ll be able to pick up a cappuccino in Milan and have a truly memorable experience with your savings.
What’s one “go out” experience you know you can cut back on this month that you’re probably better off doing without forever?