Savings Come From The Little Things.
So with his blog, I am trying to share with teachers how to make and save money and help them live a more joyful life and to help them build wealth. A fun moment happened tonight when we did what we always do every three weeks. A time where I get to just sit there and she moves all around me. It's a time I and she really enjoy. |
Photo taken from the Shamrock Barber Shop Facebook page.
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Get Your Mind Out Of The Gutter
No, it's not that. It's my haircut. You see, I've been getting a haircut every three weeks almost my entire life. Ever since my dad and I started visiting the Shamrock Barber Shop. This is a great little shop where the locals love to go. It's one of the two main barbershops in our small downtown. It was fun because I shared it with many of my own teachers and coaches. All of whom still go there and of course, so does my dad.My Dad Is Old School
I remember as a high schooler asking my dad if I could grow out my hair. His response was "Chad, you can do whatever you want with your hair. As long as you get it cut every three weeks." So I kept getting it cut with him at the shop every three weeks. This continued until I went to college.
A Life-Changing Roommate
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That stretch in college when I chose to not cut
my hair... what was I thinking? And that little
scruff on the chin?
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Practice Makes Perfect
So now my wife and I have been married for almost 10 years. In that time I have maybe gotten my hair cut professionally 10 times. I know once was before our wedding and others are times when we've been busy or she just didn't feel like cutting it. There was that time when she white-walled me and I had to tuck a pen behind my ear for a week so my students didn't notice. This was early in her hair cutting days. She has watched many youtube videos to help perfect her craft. She does really well now and even gets compliments from our friend whos dad owns his own barbershop and who went to beauty school herself. I will say I am pretty easy going with what it looks like. As long as I don't have to do anything I am happy. But she really does a great job.
A Little Adds Up
So during tonight's haircut, my wife says "think of how much money this has saved us." So I did. And I was AMAZED. Let's set up our situation and do the math. Remember I'm a physics teacher so I love this part.
Assumptions
- Average haircut plus tip = $20
- (this I would assume would be on the low end but I don't really know since I don't pay for it)
- Haircuts a year = 17
- (52 weeks / 3)
- Years we've been together = 10
- (She started cutting it before we were married)
Math
$20 * 17 cuts * 10 year = $3,400
So I know everyone's lifestyle is different and more than likely everyone will not start cutting their own hair. But I hope we can use this to understand that a little change can make a big impact. After 35 years of teaching, these savings can add up.
Savings Per Moth
$28
Savings Per Year
$340
Savings After 35 Years of Teaching
$11,900
If That Money Was Invested Each Year With 8% Return
Sure $58,000 isn't going to allow you to retire early. But that is one small change of investing only $28 dollars a month. Imagine if you moved up the pay scale each year and doubled that to $56 each month. Your results would improve drastically.
It is small steps that will grow to big results.
What You Should Do
See if there is an area in your life that you can stop paying someone else for. Maybe it's cutting your own hair. Maybe it's washing your own car. I don't care what it is, but see if you can take that something away without drastically changing your happiness. If you can, then great. You are saving money. If you can't without impacting your happiness, then DON'T. It must be worth the $20. But find something that isn't. If you then invest that money, then you are investing in yourself. And when you do that, you will absolutely become wealthy.
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