Use Your Things Until They Break And Save Money

2 mo
LeoFinance
2 Min Read
315 words

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Being financially independent is supposedly awesome. I wouldn't know exactly, because I'm not quite there yet, but I strive to get to that platform eventually. There are different ways to achieve this, and different tactics to use. One of the most popular and straight-forward ways is saving money. Of course, what else could it have been. From the point of money saved you can then do other things with those personal financial backings.

There are many ways to save. Putting aside a percentage of your income is one of them. But also trying to be smart with your purchases is another way. One route you can take is buying things that you need on sale, or at a certain discount. Or maybe buying in bulk, which I wrote about recently.

Another way of saving money is to not purchase things you don't really need immediately. What I mean by this is that using the items you own for a while is a better idea than switching them out for the newest model frequently. This can apply to expensive items like a car, phone, laptop. maybe a couch. In fact, I like to use these items almost until they stop functioning completely. I had my last phone for almost 6 years, until the lock and volume buttons stopped working and the phone became significantly slower.

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In this way you can identify different objects at home that can grant you profit if you invest in their longevity. This doesn't that can't spoil yourself every now and then though. But it is arguably better to lean more towards the saving and investing at a younger age, so you can reap the benefits at a more mature stage in your life.

So, how do you save?

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I prefer to use things until their lifespan is up but sometimes that can be an inconvenience because having a period where an item is not available hurts. For example, if your computer goes down and you have to wait for a new one, then it's going to hurt the work you can accomplish.

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1
2 mo

It helps to have a partner you can fall back on. When my previous laptop died, I used my partner's laptop for a few weeks. But I can understand that it may be a major inconvenience if you don't have that option.

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We can spoil ourselves when the time comes but its proper to invest at a young age than later in the future.

My phone is going to be a year plus next month and I don't think I'll be getting a new on soon as its doing a good job atm.

We are prone to buying things we don't need all the time but having the right mindset towards saving for a better future will help curb such act. Just like I always tell myself, you should never spend because you can instead, spend only when its necessary.

Nice read!PIZZA

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2
2 mo

I think the main take-away from all of this is that awareness is really important. If you are aware of what you are spending and why and whether its needed or if you are just spoiling yourself, doesn't matter, as long as you are aware and have control.

!LUV
!PIZZA
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2 mo (edited)

PIZZA! PIZZA! PIZZA! PIZZA!

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1

I have had four cars in my life and paid cash for every one of them. The car I am driving now is 25 years old. It still runs just fine and when it doesn't run any more we will share one car between my husband and myself. He has a newer car and has a reasonable payment on it. Which means it will be paid for long before it wears out.
Because of some mistakes earlier in our lives we don't have any real savings but we don't have any debt either other than the car.
Even after some things break you can fix them and they last even longer. :-)
!CTP

1
2 mo

Whoa, 25 years is awesome. Have you owned it for 25 or is it 25 from the build year?

I'm still on my first car, which I've been driving for 13 years now. It still hasn't given me any real problems. Even though I don't always take care of it on time.

I like the idea of trying to fix something as well. Why go for the new option immediately if some glue and duct tape can give you another functional years. !LOL

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The trailers

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0

Thanks, @rarej! It is a 1998 Nissan Sentra. We bought it when it was about 4 years old. So it's 25 from the model year and we have owned it for about 21 years. The longer you can keep a car and maintain it well the better off you'll be. One thing that really didn't exist as much when I was growing up was planned obsolescence. Making things that didn't last as long because they figured out they couldn't make as much money if stuff lasted forever.
I guess it depends on how badly something is broken though too.
Have a great day! 😀
!CTP

1
2 mo

planned obsolescence

True. This is probably a major factor why that car lasted as long. My parents also have the same refrigerator since 1999 and it still does what it needs to do. Nowadays everything is built differently.

!BEER

1

Yeah, because they can't make money if people don't keep replacing things every few years. Have a great weekend, @rarej!! 😀
!CTP
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Good Morning and Thank you, @youarealive! Enjoy your day.😀

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Good Morning and Thank you, @beerlover! Enjoy your day.😀

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Great post with good advice we all would be wise to follow. Thanks for sharing.

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2 mo

Thanks Bob! Have some !WINE and !PIZZA

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As someone who is on the path to FIRE, I approve this message!

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1
2 mo

Thanks! But what is the path of FIRE though?

!BEER

0

The FIRE movement is quite big as pioneered by Mr Money Moustache.

Financial Independence Retire Early

2
2 mo

Financial Independence Retire Early

Ah yes, I am a big subscriber of this. Hello fellow FIRE enthusiast!

!LUV !PIZZA !LOL

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Why are vacuums always so tough?
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@mypathtofire, @rarej(2/3) sent you LUV. wallet | market | tools | discord | community | daily

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Hello there!
!CTP

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You forgot to tell people what to do when they break.

Learn to fix it yourself.

2
2 mo

Ah yes, also a good point. Things that can be salvaged should always be salvaged first before considering the newer option, which is probably why I've been driving the same car for the past 13 years. !LOL

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All of them.

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