Comments on: How To Save Money Like A Madman

By: Financial Samurai

Financial Samurai — Thu, 01 Jan 1970 00:00:00 +0000

I have a Freedom Fund bar on my site, with a $1 million cash goal. Seeing that bar move to the right is what keeps me going.

I haven’t spent anything on junk in the past 40 days, and it feels great.

By: Save Money Hound

Save Money Hound — Thu, 01 Jan 1970 00:00:00 +0000

Go money madman. I wouldn’t get in his or her way!

By: Peter

Peter — Thu, 01 Jan 1970 00:00:00 +0000

love it! (insert evil laugh here)

By: Gerald Weber

Gerald Weber — Thu, 01 Jan 1970 00:00:00 +0000

Great article. I love the madman analogy!

By: Abigail

Abigail — Thu, 01 Jan 1970 00:00:00 +0000

I completely agree about the paranoia. My husband and I are living on very limited income at the moment. He’s on unemployment, I’m on disability. We both have health problems. So while we make plans, we also accept that there will very probably be unforeseen costs that will crop up.

The only real way to keep your sanity, especially when you’re low income, is to be an optimistic pessimist. You expect the worst while hoping for the best.

It seems to be working for us. We just finished paying down the last $2000 of his student loans since June. And now we can tackle the credit cards.

By: SavingDiva

SavingDiva — Thu, 01 Jan 1970 00:00:00 +0000

I like setting monthly goals…creating a budget…and trying to save even small amounts

By: Jack

Jack — Thu, 01 Jan 1970 00:00:00 +0000

Another madman-esque type tactic is to cut out things that you like but can go without. Do you like your TV? Do you need it? Do you like coffee? Do you need it? Do you like snack/junk foods? Do you need it?

Costs will fall dramatically for most people, increasing your savings dramatically.

By: PT

PT — Thu, 01 Jan 1970 00:00:00 +0000

@ Doctor S – Thanks! Yeah, I agree that a “paranoid” approach has it’s limits. That’s why you should (a) have an end goal in mind; and (b) try and set up your savings automatically, right? I see the paranoid part as the motivator to get you headed in the right direction initially, or to help you rebalance when life throws you changes (move to one income).

By: Doctor S

Doctor S — Thu, 01 Jan 1970 00:00:00 +0000

HAHA Great post man. Gene Wilder reference is great, I really like the approach you take, but do we really want to become paranoid with it? I do it alot too but sometimes it can take its toll on you and become stressful? Are you still enjoying your life if you are constantly stressing over trying to save? I am not taking sides, just asking more questions b/c your post really made me think!!!!

By: Jennifer

Jennifer — Thu, 01 Jan 1970 00:00:00 +0000

Loved your post! Getting a little paranoid these days is easy with the economy like it is. Great time to pump up the emergency fund!