dcsimg The Get Rich Slowly Forums • View topic - George's Success Story

  GRS Home  Forum Home
Bank Rates Center
   Savings Account Rates
   Money Market Rates
   Highest CD Rates
Insurance Rates Center
  Auto           Health
   Life              Home
Mortgage Rates Center
  Mortgage Rates
  Mortgage Quotes

Last visit was:
A place for Get Rich Slowly readers to ask questions
and exchange ideas
It is currently Thu Nov 26, 2015 2:28 pm

Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: George's Success Story
PostPosted: Thu Oct 18, 2007 12:11 pm 

Joined: Wed Apr 04, 2007 9:09 pm
Posts: 13
Rather than go into a huge amount of detail about the "big picture" of financial success, I thought I'd share a bit of the "little picture" - simple things that I've done that have helped me along the way.

One occurred this past weekend - while grocery shopping I noticed that our infant's formula was about $1.50 less than usual, but that there were multiple price tags on the shelf - one said it was $9.99 a can, the others said $11.49. I double-checked that the barcodes all matched up, and was able to compare the price to the "usual" price in my price book. When we checked out, the formula came up at $11.49, and I pointed out the pricing error to the cashier. A few minutes and a check of the shelf later, and the price was corrected. Why is this a "little picture" success? Simple - it's a policy of the store that if the price at the till doesn't match the lowest price on the shelf sticker, they'll give you the item for FREE (up to $10). Since we were buying two cans, we got one for $9.99 and the second one for free - a net cost of $5/can, or a 65% discount! This is an especially big success since we figured out that the generic brand we buy has exactly the same ingredients and composition as the brand name formula, which costs $24.99 a can.

A second thing that has become part of my financial success is one of the tasks in Your Money or Your Life - I've tracked every penny that I've spent over the past five years. While this might sound like an onerous task, it's pretty easy using Quicken and downloading transaction information from my bank. As a result, I know how much I've spent on, well, everything. It's really hard to achieve financial success until you know where your money is coming from, and where it is going. One of the "little picture" successes we've had is that we've trimmed down our budget for "eating out" enormously. Rather than spend money on eating at Applebee's (where the food is good, but nothing we couldn't make at home), we've focused on making dining out a real treat by going to high-end restaurants. We spend less money (because we eat out less), but we appreciate it more, because it really does feel like a treat.

A third "small success" has been that I've discovered the magic of goal setting. When we bought our house, we committed to having it paid off in 15 years. We're not there yet, but we'll definitely be meeting the goal. I set a goal of maxing out my retirement accounts, and with some diligent saving, it happened. There's something magical about making a goal and writing it down that seems to make it far more likely to happen. One of my "little goals" for the next year is to save up and buy a Wii, but perhaps chance will favour me and I'll be selected in the GRS contest. :D

Offline Profile   
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ]  Moderators: kombat, bpgui, JerichoHill, Fiscal Fitness Moderator

Who is online

Users browsing this forum: No registered users and 2 guests

You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Theme created StylerBB.net & kodeki