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> If you can learn to reduce your expenses by $10k 1. This is crazy to me. I could maybe cut $3K by taking a huge hit to quality of life (that would probably n

> If you can learn to reduce your expenses by $10k 1. This is crazy to me. I could maybe cut $3K by taking a huge hit to quality of life (that would probably not be sustainable with a full time job anyways). Getting the other $7K would involve either homelessness or cutting back on eating and visiting family. How do salary earners manage to rack up $10K per year of purely unnecessary expenses? 2. That number is still way too small to be a better strategy than income maximization in tech. Of course "and" is always better, but given the choice between an extra >$100K/yr in savings or $10K less in life expenses the choice is pretty obvious.

Spoom 5y ago
> given the choice between an extra >$100K/yr in savings or $10K less in life expenses The first option often isn't available to folks.
- thwayunion 5y ago
  Right but this is an article about a situation where it is available.
ForHackernews 5y ago
> The philosopher Diogenes was eating bread and lentils for supper. He was seen by the philosopher Aristippus, who lived comfortably by flattering the king. Said Aristippus, ‘If you would learn to be subservient to the king, you would not have to live on lentils.’ > Said Diogenes, ‘Learn to live on lentils, and you will not have to be subservient to the king.’
- antisthenes 5y ago
  Also the businessman and fisherman story.
Sohcahtoa82 5y ago
Yeah...a lot of financial advice assumes you already make 6-figures when they talk about cutting expenses. 12 years ago, my food budget was $3/day, and the only reason it wasn't less than even that was because I worked at a Subway and could get 1, sometimes 2 meals a day free if I was working a long shift. Going to Taco Bell was considered splurging. I caught Mono and had to miss 3 days of work. I had to get an advance on my paycheck to pay the rent. At least my boss was cool about it.
brimble 5y ago
> 1. This is crazy to me. I could maybe cut $3K by taking a huge hit to quality of life (that would probably not be sustainable with a full time job anyways). Getting the other $7K would involve either homelessness or cutting back on eating and visiting family. How do salary earners manage to rack up $10K per year of purely unnecessary expenses? Cleaning services, vacations, picking the fancy and nice daycare using some trendy educational system (Montessori, unschooling, whatever) instead of the one run out of someone's house in a scary part of town, ordering food delivery, monthly subscription services for all kinds of crap, new car every 2 years instead of a used one every 5 years... the list goes on and on.
paulcole 5y ago
> How do salary earners manage to rack up $10K per year of purely unnecessary expenses? You learn to spend what’s in your pocket.
sanderjd 5y ago
$10k / yes is less than $30 a day. Not too hard to do with coffee shops, restaurants, and drinks. Add in fun stuff for two or three kids and it can add up quick. Agree with your second point though.
sokoloff 5y ago
Having multiple late model cars in the household, often via leases (meaning expensive comprehensive insurance is also required). Buying a $15 lunch and three $5 coffees per day is probably an extra $20/workday ($4800/yr) more than a viable alternative. Two extra nights of eating out rather than cooking food at home might add another $100/week. Paying someone $100/wk to come clean your house is more than half of that “impossible” $10K/yr (and $100/wk is cheap for a cleaner in many cities). No one’s saying it’s completely free from trade-offs , but a lot of people have leaks in their bucket that they mindlessly assume are “required” when, in fact, they’re small luxuries and should be considered that way. It doesn’t mean you can’t do them, but rather just means you should consciously determine if they’re actually worth the tradeoff to you.

Spoom 5y ago

> given the choice between an extra >$100K/yr in savings or $10K less in life expenses The first option often isn't available to folks.

thwayunion 5y ago
Right but this is an article about a situation where it is available.

ForHackernews 5y ago

> The philosopher Diogenes was eating bread and lentils for supper. He was seen by the philosopher Aristippus, who lived comfortably by flattering the king. Said Aristippus, ‘If you would learn to be subservient to the king, you would not have to live on lentils.’ > Said Diogenes, ‘Learn to live on lentils, and you will not have to be subservient to the king.’

antisthenes 5y ago
Also the businessman and fisherman story.

Sohcahtoa82 5y ago

Yeah...a lot of financial advice assumes you already make 6-figures when they talk about cutting expenses. 12 years ago, my food budget was $3/day, and the only reason it wasn't less than even that was because I worked at a Subway and could get 1, sometimes 2 meals a day free if I was working a long shift. Going to Taco Bell was considered splurging. I caught Mono and had to miss 3 days of work. I had to get an advance on my paycheck to pay the rent. At least my boss was cool about it.

brimble 5y ago

> 1. This is crazy to me. I could maybe cut $3K by taking a huge hit to quality of life (that would probably not be sustainable with a full time job anyways). Getting the other $7K would involve either homelessness or cutting back on eating and visiting family. How do salary earners manage to rack up $10K per year of purely unnecessary expenses? Cleaning services, vacations, picking the fancy and nice daycare using some trendy educational system (Montessori, unschooling, whatever) instead of the one run out of someone's house in a scary part of town, ordering food delivery, monthly subscription services for all kinds of crap, new car every 2 years instead of a used one every 5 years... the list goes on and on.

paulcole 5y ago

> How do salary earners manage to rack up $10K per year of purely unnecessary expenses? You learn to spend what’s in your pocket.

sanderjd 5y ago

$10k / yes is less than $30 a day. Not too hard to do with coffee shops, restaurants, and drinks. Add in fun stuff for two or three kids and it can add up quick. Agree with your second point though.

sokoloff 5y ago

Having multiple late model cars in the household, often via leases (meaning expensive comprehensive insurance is also required). Buying a $15 lunch and three $5 coffees per day is probably an extra $20/workday ($4800/yr) more than a viable alternative. Two extra nights of eating out rather than cooking food at home might add another $100/week. Paying someone $100/wk to come clean your house is more than half of that “impossible” $10K/yr (and $100/wk is cheap for a cleaner in many cities). No one’s saying it’s completely free from trade-offs , but a lot of people have leaks in their bucket that they mindlessly assume are “required” when, in fact, they’re small luxuries and should be considered that way. It doesn’t mean you can’t do them, but rather just means you should consciously determine if they’re actually worth the tradeoff to you.