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Buying less stuff #financefriday

If you can’t make enough money then saving money is the next best option. Being thrifty and shopping around is a good habit to get into. Being frugal and doing your own DIY and your own cooking will save you cash too. I’ve got a sausage casserole for dinner and cooking it was easy. It has been snowing here and casseroles and stews are great with this weather. On my next grocery order, I have red lentils to add to my soups and stews. They are high in vitamins and protein and cheaper than meat protein. I’m going to use them for the vitamins. I also have rice noodles on my order because they are gluten-free and will be a great addition to my stir-fries next week. I do stir-fries with bacon and mushrooms and next week I’ll add the rice noodles and bean sprouts. I’ve finally figured out how to cook rice properly and that’s a cheap ingredient. I’ve also bought some gluten-free soy sauce that tastes great.

Thrifty

I don’t shop around as much as I used to. I do look for value for money. I’ve been buying ham at the supermarket but they have changed it. It doesn’t taste the same and doesn’t smell the same. I did buy a kilo of ham at Christmas by mistake but it turned out to be a thrifty buy and tasted nice. a kilo is a bit much for me but last week I split it in half and put half in the freezer in the fast freeze section. I often take advantage of offers and buy several packs of one product. Stocking up can save money!

Discretionary income

I also invest a little to increase my discretionary income. Discretionary income is that income you have left after you have paid your taxes and paid for all the essentials. Discretionary income is that money you spend on luxuries and enjoying yourself. Inflation is cutting our discretionary income so we need to be smart and choose good investments. We’re still recovering from the pandemic and so some stocks and some commodities are still reasonably priced. We will be worse off with inflation eating into our income and assets but we can limit the damage. Obviously, when you’re investing always keep enough money for emergencies, etc.

Companies to watch

I’m always looking to trade but I don’t see anything to get excited about at the moment. We just have to watch and wait. Many companies are struggling and so we just have to wait and hope they make it through the tough times. My portfolio looks quite good. I did make one mistake, I let my judgement be swayed by investing in a company with local connections again. Emotions have no place in investing. I don’t invest in companies that sell cigarettes and I try to avoid the big polluters. Generally speaking, I try to be unemotional about investing.

Standard Chartered is doing better now as China opens up and Associated British Foods are opening up their Primark stores. They are the bright spots and Marstons is the one I’m concerned about. If we are to do anything about climate change we need to buy less “stuff” and cut manufacturing. Buying less “stuff” and investing more means you’re less affected by inflation and you’re helping the climate.

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