Dumb money saving ideas that don't work

So in my last blog, many of my readers came back saying they loved how much I bagged out the money saving ideas that everyone tries but no-one ever seems to become rich off of.

So due to popular demand, here are some money saving ideas with all the best intentions in the world that will never work.

 

Cutting out your café coffee

Yep, this will actually work. It is common sense that if you stop buying a $5 coffee from the shops 3 times a week then after a year you will save $780.

You could even replace with home brewed coffee at roughly 50c per shot and after upfront costs of say $200 to buy the machine you end up ahead $500 for the year.

 

Why doesn’t this work in the long run?

Ok so let’s go with daily life shall we, and see how many you can tick before you go and get a proper coffee:

 

  • husband has a few too many at a work meeting and comes home late

  • kids wake up 6 times in the night (and husband too drunk to get up)

  • work

  • mother rings during Bold and the Beautiful

  • kids draw all over the wall or you up it

  • driving on way to work past the Muzz Buzz with a special on caramel lattes

  • dog craps on the carpet

  • cat craps on the carpet

  • insert animal or family member here craps on the carpet

Moral of this story…. Coffee makes us feel better and for $5 that’s a pretty cheap way to do it.

 

Cutting back on Internet

Ha ha ha ha ha ha. Really? There are actually sites out there that say if you reduce your plan to only $30 per month and restrict your usage then you can save some serious money each year.

 

Why this doesn’t work?

Seriously in this day and age with every device from your phone, car, fridge, tablet, computer and any other electronic device linking to the net, we will only need it all the more, not less.

What happens if we cut out the net?

You get limited time, my bet it approx. 3 days into the month, then it slows down or worse stops completely, then:

 

  • No Facebook

  • Kids annoy you 24 hours a day and you can’t say “go have a rest and watch youtube”

  • No Facebook

  • That movie you just saw and can’t remember what else the actor was in, well try sleeping without ever knowing, I dare you

  • No Facebook

  • No Game of Thrones

  • No Facebook

You get the picture.

 

The cheapskate factor

I would like to bunch a whole group together. I will leave these shockingly stupid ideas up to yourselves but would love to hear any other crazy ones out there, just leave a comment on my facebook page:

 

  • Drying out and reusing paper towel

  • Separating the ply on toilet paper

  • Collecting your own drinking water (in WA people)

  • Taking the kids to the shopping centre to eat food samples for dinner

  • Unplugging every powerpoint before you leave each day

  • Flushing the toilet once a week (if it’s yellow let it mellow)

  • Returning all your Christmas gifts for money

  • Making all your own clothes

  • Saving fast food drink cups and returning a different day

  • Turning underwear inside out to get extra days use

  • Only bath once a week

 

The reality of all of these items is that it goes against our human nature. Even if you were to start saving that $5 on a café coffee 3 times a week, do you see the extra $780 at the end of the year? Of course not. Unless you put it aside into a savings account or money box of sorts, then it will just disappear in with all the other bills you pay.

The true way to start saving properly for the future is through automation and time. You can read my blog on this here.

If you want to save money there are many better ways out there to do it. Please have a read of some of my other blogs if you are interested.

 

About the Blogger

Brad Dunn has been a property investor and working in the finance industry for over 15 years.

He is currently one of the franchise managers of the multi-award winning South Perth Mortgage Choice office but what’s really important to him is that 9 out of 10 of their clients would recommend them to a friend.

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