Woman decides not to buy anything unnecessary for a year: she saves $ 23,000
Everyone, in their own way, does everything possible to make small savings whenever they can. There are those who manage to do this without making excessive sacrifices. For example, they avoid buying two sweaters instead of one, and put the difference in a piggy bank.
In any case, there are numerous ways to save and a very unique method was tried by the subject of this story. Here is her story:
via The Times
Michelle McGagh is a finance journalist who has attracted a lot of attention for having tried out an economic experiment to increase her savings. The woman, who had been working for many years and is financially stable, wanted to test if it is possible or not to avoid unnecessary expenses while continuing to live normally.
The test lasted one year, took place in 2016 and was born from her past experiences: the year before, she had spent a lot buying things that were not really necessary.
"I had entered a vortex in which I only felt happy if I spent money. I bought everything I wanted, I treated myself to dining out frequently, I spent wildly on travel and all without worrying about the mortgage, bills and many more things," she said. So, she began a year of "no unnecessary expenses" which seems to have gone quite well.
Michelle said she managed to save $23,000 dollars. This is a considerable amount and allowed her to service her mortgage. "I admit that it was not easy. I gave up on dinners out, new clothes, the hairdresser, taking public transport, and, at times, I really missed these things, I have to confess," she said.
Michelle found inventive ways to get around her self-imposed restraints. To attend cultural events, she looked for free-entry ones, or; if she was traveling, she stayed in a tent or; she asked her husband to cut her hair. She made many other sacrifices, such only using a bicycle to get around. The important thing was to remain consistent and dedicated to the goal. The only thing she didn't skimp on were necessary expenses (like medicines).
"In the end, I learned that it takes very little to be happy," she said. These are words which Michelle has shared and has inspired others. Would you ever be able to try to live a full year without luxuries?