Not every money win has to a huge one to matter.
Last month, I focused a sizable win. We have enough in savings to wipe out our mortgage. That’s H-U-G-E.
But this month? I’m actually equally excited by something that only adds up to maybe $20 or $30 a month.
I am officially Diet Coke free (again). Why I continue to do this to myself, I’m not totally sure. But I talked about cutting back, and I actually kicked it entirely (again). If you’ve never dealt with caffeine withdrawal, I envy you. It is nasty. It coincided with a nasty stomach flu, so it’s even hard to say which symptom was caused by what this go round.
I haven’t had a sip of Diet Coke in over a month. More importantly, I haven’t had to buy any pop. While it doesn’t seem significant, a look at last month’s budget proved otherwise.
I had over $20 more dollars left in our fun money spending category. Plus, I’m not shoving $1.50 in the vending machine at work every time I have a stressful day. (Spoiler: It’s the end of the school year so that would be Everyday.) Even in those two instances, soda isn’t terribly expensive. But going out to eat and ordering a soda can easily add an extra $2-$4 to my meal. It’s a little change that’s definitely adding up across the board.
(Yes, I believe in the latte factor. Deal with it.)
And if you’re looking for some bigger money wins, I’ve got you covered. It’s time to celebrate budgets, real estate, and FI. But this time, I’m not cracking open a can of Diet Coke. I’ll raise my mug of tea to you instead.
Saving4XtraRice
What is your money win?
I finally leased my property abroad (brand new construction).
Why are you pumped?
It would lower my monthly mortgage.
What can others learn from it?
Real estate can be a good investment.
[Penny’s note: I must confess that real estate scares me. But it’s so helpful for me to hear money wins like this from real people. It’s definitely food for thought!]
Perpetual Money Machine
What is your money win?
Just 18 years into my career ranging from $48K to $98K, I achieved financial independence, having accumulated over $2m. In fact, this nest egg is more than all of the money I have ever earned at work.
Why are you pumped?
I am pumped about this, because I now have total freedom. All the options in the world are laid before me.
What can others learn from it?
I’m not a high-earner. I have a wife and 3 kids, and live a pretty normal life in a not-cheap city. But, I was able to achieve financial independence before my youth was spent by living within my means and investing in the broad market for the long term.
[Penny’s note: I love that fact that PMM wasn’t always a high-income earner and that PMM mentions 18 years. This is a huge accomplishment to reach early on in life, but the fact that PMM references a timeline is a good reminder that it doesn’t have to happen over night for any of us!]
Zandile (aka Za Knows)
What is your money win?
For the first time since I started tracking my spending and budgeting, I have broken even at the end of this past month!
Why are you pumped?
I’m so tired of flirting with zero! Seeing my budget work for me is and not against me is motivating.
What can others learn from it?
Have patience and persistence, and you will see results!
[Penny’s note: Is there a better feeling in the world than when a financial plan comes together?!]
Final Thoughts on Money Wins
The math behind money is fairly simple. Most of us understand the ideas behind earning more, spending less, and growing the gap.
But the psychology behind it and all of the individuals decisions that we make every day matter. That’s why I think it’s so fun and so important to celebrate money wins of all kinds.
Will I become a millionaire by giving up Diet Coke? Of course not. But it’s fun to have a bit more wiggle room in my budget, and I’m pretty sure I’m going to get a high-five from my dental hygienist at my next cleaning. (Or maybe not. Ditching Diet Coke is a money win for my teeth but bad for their billing. WINK.)
Whether it’s building a budget that works, finding other ways to earn income, hitting FI, or anything in between, let’s celebrate more money wins this year.
If you’d like to join the money win party, fill out this survey. Whether you are a blogger or a reader or both, you are welcome to party here!
Also, don’t miss any of our past money wins:
Volume 1 – Kate, Revanche, Melody
Volume 2 – Jody, Aitza, Little Miss Fire
Volume 4 – Zero, Kat, Mystery Money Man
Volume 5 – Anna, Debra, Claudia
Volume 6 – Kate, Are We Adults Yet, Money Saved is Money Earned
Volume 7 – Leigh, $76K Project, Josh
Volume 8 – Jill, Verokina, Mr. Green
Volume 9 – Budget Epicurean, Felicity, Erin
Volume 10 – Kris, Revanche, Aaron
Volume 11 – My Plutus Nod & Jo-Anne
Volume 12 – Amanda, Kudy, Laura
Volume 14 – Cait, Margot, Mr. Flexcents
Volume 15 – Kate, Salty Old Lady, Dave
So Tell Me…How are you winning with money lately?
Hooray for money wins on a Monday morning! Turns out, they’re both a good way to end the week (when they used to be Friday mornings) and a great way to start one!
Congrats on kicking Diet Coke to the curb. Do you have any tricks for squashing the diet coke addiction? I drink one regular Coke every morning. This started after my second was born (I was just so darn tired) and despite trying I cannot kick the habit. Sometimes I drink it after I get home from the gym, which feels so awful after working so hard to maintain my strength and weight!
I guess I got lucky by never liking soda all that much. Still, I can appreciate just how tough it must have been (having watched friends go through caffeine withdrawal). So kudos!
These money wins are excellent. It’s especially inspiring that a non-high income earner was able to accrue that much wealth.
A small win carries us a long way toward the next win. I wish I would have recorded all the wins I had that kept me going over the years. I’ll bet most of us could find one very small win every day if we took the time to notice and appreciate.
I think that’s the perfect way of looking at it! They’re momentum builders!