October 31, 2008

Well, this is interesting.  Ramit Sethi, blogger of iwillteachyoutoberich.com, proposes a November challenge: Save $1000 in 30 days.  Here is his promise:

I promise: No stupid frugality tips

I’m not trying to save $1 or even $10 per week, because it’s not worth changing your behavior for that kind of money. Guys, we’re aiming to save $1,000 in 30 days. That’s why this series will not include retarded suggestions like “Start a garden” or “Buy day-old food from bakeries.” I certainly won’t tell you to cut your rent or move to a cheaper place, because NOBODY WILL DO IT! Does anyone ever follow those stupid tips? No, but it sure makes other personal-finance authors feel good about themselves for coming up with a suggestion that theoretically, maybe, somehow could save money for the moron who would do it. Not here.

Here is his plan.  And yes, in the knowingly precocious flavor of its namesake, it is called the “C.E.O. plan:”

Save $1000 in 30 days challenge

C = Cut one habit cold-turkey
for example: Reduce eating out. Stop drinking 4 nights/wk.

E = Earn more
for example: Sell at least one thing on ebay. Babysitting. Freelancing.

O = Optimize spending
for example: Negotiate insurance rates. Optimize cell phone and cable bill.

While I can’t say I’ll commit, I will definitely check in on the tips, because this guy talks like he knows it all.  He probably doesn’t, but he knows enough to make what little I know, zero.


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