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Short blog posts, journal entries, and random thoughts. Topics include a mix of personal and the world at large. 

Mechanism for implementing austerity

I have found the best way for extremely frugality: have something impossibly expensive to save up for. 

My one New Year's resolution this year is heavy austerity in my finances. The past fews years have been a bit overboard on the travel expenses, even though I wouldn't trade away a second of the experiences. Nevertheless it was time to refresh the rainy day fund, in preparation to counter any ill events, should they arise. 

First half of the year the resolution was not going so great. I didn't travel anywhere so that was good, but I put some money down for travel later this year, which required a significant chunk (super counterintuitive, I know). Due to various circumstances my mother decided it was time to buy my brother a car, him of still in college and no real income. So towards that end I've fronted and still fronting (insurance is a bitch) some money.

I also bought a few expensive play things as well. Self control is difficult. 

Now the situation has changed. Looking backwards I realize the only times I was able to implement crazy austerity was when I needed to save for something big. Back in 2012 when I decided to buy a WRX STI and needed many thousands in down-payment dollar, every financial decision, big and small, was run through the filter of will it adversely affect my goal. Utilizing that mental mechanism I socked away nearly over 50% of a paycheck. 

So to force myself into frugality, I've pick another big item to save money for. It isn't a house because I have no interest in ever owning, so naturally it's another car. Not a normal-priced car obviously because I can go and buy one now. It needs to be quite expensive: six-figures at least. 

Won't say what the car is because that'll spoil the fun, but ever since I made the decision my austerity resolution is back on track.  

Do you want to save money effectively? Have a huge monetary goal to save towards. 

 The architect drew inspiration from the Death Star. 

The architect drew inspiration from the Death Star.