A few years ago I took a huge cut in income, which has only recently started to improve. I'm still a long way from buying a new BMW, but I'm working on it.
I've learned a few tricks for reducing my living expenses in order to save money for the important things, and I thought I'd share a couple.
While I don't believe in government assistance, and don't qualify for any in the US, I have no problem using a local food bank. It's run based on donations, local supermarkets have bins to allow customers to donate food, and so no-one is forced to contribute. I visit the distribution center every month for a box of assorted goodies. Anything I don't like I redonate.
'Freeganism'. The art of visiting the back of a local supermarket to collect unspoiled, sealed food, that would otherwise be carted to a landfill. Again a little time invested can bring some great results, especially in a culture as wasteful as this one, where every slightly dented can is thrown out.
Aside from eating out, which I admit I do quite a lot when with company, my food bill is essentially zero. Combine that with cheap rent here, no debts and 40-50 mpg from my civic and my necessary expenses are less than 200GBP a month. The saving account for that BMW likes this.
In these harsh economic times, do you have any tips for saving money? Am I crazy for going to such extremes?