Marc Serafino
When we think of “downsizing,” we imagine factories in the midst of a change when they’re laying of excess workforce. I don’t find this an appealing image, quite the contrary.
But the word has a wider meaning, and it can also relate to our habits. We Americans are used to big portions, big cars… everything big. And in most cases, we can perfectly live with smaller things.
This article is about that, to help you downsize some things so you could live a more frugal life. And ultimately be able to save more. Let’s get started…
1. Car
The truth is — if you’re not a professional driver and are not spending more than 2 hours in your car everyday — you need an affordable, fuel-efficient, pre-owned vehicle. The exception could be if you have a big family and need to frequently move them from one place to the other. Then, you may want to get something bigger which also tends to require more fuel.
Let’s not forget that the car is meant to transfer you from point A to point B. That’s it. No need to overspend on this “tool” — cause that’s what it is, a tool to help you move around.
2. Clothing
People in the West are notorious for their shopping sprees. Just before the Christmas season, wardrobe makers are spending huge amounts of money to convince us our old wardrobe is no longer fancy. This prompts many of us to yet again buy new boots, shoes and many other items we already have and have worn for just a few times.
If you do need something new, consider donating your items you no longer wear to a local charity. There are people around the world that need all that extra stuff that just sits in your (our) closet.
3. Cable TV
Internet is everywhere. And I mean – everywhere. On your computer, on your phone and even on your wrist if you own one of those fancy smart watches like the Apple Watch. Why on Earth are some people still paying for cable TV is beyond me.
Most of them don’t watch it at all, yet they keep paying for the service every single month. Instead, you need internet access and, say, Netflix. Or HBO if that’s your thing. Heck, most of us can live perfectly with free content from YouTube.
4. Subscription services
Here I need to add that I’m a big fan of some subscription services. Simply put, they provide me with convenience I am willing to pay for.
Then again, today I’m mostly about food-related subscription services, but I used to pay for all kinds of things, many of which I haven’t used at all.
In that sense, I advise everyone to go on a “subscription services diet.” If you don’t want to straight out cancel your subscription to some service, try putting it on pause. This exercise will tell you whether you can live without it. Chances are – you can!
5. Spending & Debt
Finally, we talk about spending and debt. I find these two to go hand in hand. If you can downsize your spending, you can downsize your debt and bring it to the manageable level.
Good things seldom happen if you spend and keep doing it like there is no tomorrow. Sooner or later, you will have to pay for all the things you bought. Swiping credit cards is easy, actually paying for stuff is hard. And it’s getting harder the more debt you have.
You know what you gotta do. To take it easy with your spending habits. You really don’t need all those things. And when I say “you,” I mean “we.” Cause spending and debt is a (inter)national problem…
