Tips from Mr. Money Mustache

2013-04-28T00:00:00Z 2014-06-17T16:50:42Z Tips from Mr. Money MustacheCompiled by the Arizona Daily Star Arizona Daily Star
April 28, 2013 12:00 am  • 

Words of wisdom from Mr. Money Mustache's blog, plus other frugalistas.

Tip No. 1

Sell your Mercedes and buy a junker.

"Well, here’s the good news: Car Clown Disease is not an unavoidable thing. It’s simply the product of bad habits. If you can reprogram the bad habits you’ve built around cars, you can slide into the cool camp of Conscious Car Users instead. It’s a land where traffic is sparse, the view out your window is breathtaking, and cost is negligible."

Tip No. 2

Get a bike!

"Bikes are virtually free, and require no insurance, registration, license, parking spaces, or any other hassle. They are so easy to own, and so incredibly useful and beneficial, with absolutely no drawbacks whatsoever to ownership. And yet somehow, there are adults out there – millions of them, a majority of them in the U.S. – who don’t even have a bike."

"My neighbor is paying thousands of dollars a year to idle around town in a 300 horsepower truck that gets 12 miles per gallon in the city, even while her body is crying out for extra exercise that it is clearly not getting enough of." 

Tip No. 3

Protect your Money Mustache from your spendy friends

"One of the key differences between being Frugal (good) and being Cheap (bad) in how you handle special occasions. A frugal person may have no problem dropping $50 or $100 on a good time with friends."

"A cheap person will feel uncomfortable and start looking at his or her feet with even the slightest and rarest of expenditures. The key is in understanding the effect of any spending over the course of a full year, then over 10 years."

Tip No. 4

Your time is worth $500 an hour?

"Learning to spend money more efficiently can allow you to cut your living expenses in half for life. Learning to eliminate prolonged mental stress can actually save your life. Far from being unpaid time, the free time you get outside of work is the most valuable time you have."

Tip No. 5

A peak life is lived off peak

"It’s all a bunch of nonsense. As explained in last summer’s post about reaching the top 5%, most people spend most of their time doing what everyone else does, without giving it much thought. And thus, it is usually very profitable to avoid doing what everyone else is doing."

Tip No. 6

Change your mental state

"Solid tips are valuable resources, but they work a lot better if they are combined with changes to your mind that make the tips turn into real improvements in your lifestyle, rather than temporary deprivations which are simply means to the end of getting more money in the bank."

Other interesting websites:

The Star's own Centsible Mom, Angela Pittenger. From finding great deals on produce to enjoying cheap outings with the kids, she'll tell you how it's done. 

Go to Frugally Sustainable, "a resource for all things frugal and sustainable." And lots of great, simple recipes for making your own soap, body lotion and herbal teas.

Bills got you down? Save money on your utilities. It's not a sexy website, but Chose to Save has some good solid advice, with ideas for saving for emergencies, putting kids through college and saving money for retirement.

City-Data: Post a question on this forum or browse some threads to see how others have managed to save money. 

And feel free to leave your own tips in the Comments section.

Copyright 2014 Arizona Daily Star. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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