Saturday, January 05, 2008

LBYM in 2008

LBYM - Living Below Your Means
I recently ran across a blog on about this topic. It looks like people have been sharing their ideas and suggestions since 2000 - which is pretty cool. Definitely check it out
So, I thought it would be worth sharing some of my own tips fwiw:
  1. Last year I learned about the "Locks of Love" - available in most areas - you receive a free haircut, if you donate your hair (at least 10") to the charity. It's a win-win.
  2. Michael "found" quite a loot in the dumpster behind his work. There were purses, Trader Joe spices, oils & mixes, several shampoos, body wash, etc. We sold some of the purses to friends, gave some to Friends of Paint Lick and have enjoyed the spices. It looked like someone had to dispose of things last minute.
  3. Living close to a college campus provides good opportunities at the end of the semester. As you walk/drive around campus, there are always tables, sofas, chairs, bookshelves, etc - sitting out - left behind as students leave for the summer.
  4. Over two years ago we went cellular - no more LAN lines. We have a family plan and have added phones as needed. It's great - no regrets.
  5. Most of our lunches are either brown-bagged or skipped. We may order pizza every few weeks and Chinese take-out once a month. I save eating out for special dates:).
I was incredibly impressed by Judi's cooking, when we saw her last Spring Break,and have tried some new recipes. Most of our meals involve ground beef or chicken. Nothing too complicated.

In terms of purchases here's my two-cents:
Is it for the right reason? In other words, will it add value to your life and fit your goals.
Is it the right time? Timing is everything. Are all your ducks in a row or should you wait a few more days, weeks, months. Don't start a project you can't finish in a timely manner - adding unnecessary stress and don't purchase a gadget you don't have time to learn or use for it's maximum value.
Is it the right purchase? Research, research, and more research. Make sure what you get is what you thought you were getting.

OK - that's my thought for the day. Feel free to add comments or share your LBYM stories.