Budget Optimization

There are a million and one talking points on budget optimization, but I found a metric that works really well for me. When you’re travelling, you often look at what day-to-day costs are for your trip, because it is typically measured in days. When you live somewhere, you usually look at it in months, because that’s how bills are paid.

I’m challenging you to look at what your current life costs you per day, it should give you a unique perspective. Until recently, living in Toronto costs me about $48/day. I think that’s pretty high, so I found ways to get that down to $45, and hopefully I’ll have it below $40 in the next 6 months by moving.

Look at all of your required expenses, and determine if you can reduce or eliminate any of them WITHOUT giving up anything you love. Myself, I dropped a couple domain names I haven’t used in over a year, got rid of my gym membership, reduced my meat and cheese consumption, and stopped buying lotto tickets. This got me to my goal. $3/day seems trivial, but that’s over $1000/year!

Try slimming down, you’ll feel better!

-Mike