8 Things I Learned Saving (More Than) 50% Of My Income

I can’t believe this year (and blog) is over…

As we round the bend on 2024, it’s wild to think that a year ago I was drafting my first blog post. Gosh - how time flies when you’re saving your butt off.

The energy I’m bringing into 2025.

Looking back, it’s been a year of highs, lows, and everything in-between. Saving a poop ton of money isn’t for everyone, but after making it through the year I can say that with a little gumption and perseverance anyone can do it.

But before I get into the meat and potatoes of if I actually achieved my goal (writing that made me hungry), I wanted to share a few lessons I learned along the way about saving and personal finances.

So here is a roundup of the good, the bad and the ugly of saving a bunch of money.

1. Budgeting is essential.

*The whole world groans.* Who likes budgeting? No one…except me, accountants, and other weirdos. Regardless of your feelings on the matter, I learned that budgeting is absolutely essential to achieving your financial goals.

What isn’t measured, can’t be managed. That’s right. Boring budgeting is a crucial component of, well, adulting. Simply put, having a sound understanding of the dollars that enter and leave your life’s orbit is key to living in a responsible manner (harsh, but if you think about it, true).

If you don’t know what’s flowing into and out of your accounts every month, you cannot gain awareness, you’re essentially stuck in a spending loop. And crucially, without this information, you can’t change your money habits to reach your financial goals. Period.

Budgeting is an enlightening exercise. I recommend it to everyone.

2. Make your money work for you - for the love of god, invest!

I get that not everyone is thrilled about putting their money in investments that might completely blow up their lives (I’m looking at you Bernie Madoff). But leaving your money in your bank account, to sit there like an old statue, slowly being eaten away by erosion and bird poop is not the way to go either.

Remember that your dollar-dollar-bills-y’all are units of your time and they can be put into action to help you make money while you sleep. Which means, moving your money to proper investment vehicles and putting your sweaty, meaty cash to work.

The great thing about putting your money in motion (aka investing) is that there are so many ways to do it. For me, I’m a huge fan of low cost index funds that are diversified and less risky than purchasing individual stocks. But there are so many other options out there, find one that suits your risk tolerance.

Invest to impress, I say.

3. If you don’t have the money to buy the thing, you cannot afford the thing.

We live in a world where credit is so incredibly accessible, we tend to forget that credit is debt. And debt steals money and time away from our future selves in the form of high interest rates, quickly compounding, reducing our ability to live the lives we want.

This last year, I prioritized living within my means. Which meant, debt - lines of credit, credit cards, etc. - were an absolute last resort, aka if I didn’t have the money in my account to purchase the thing, I wouldn't buy it.

As a result I saved up for small and medium sized purchases. And whatever I bought became much more meaningful because I needed to actually wait and save for it. I also found that I was far more judicious with my money.

I will certainly continue with this habit going forward. I strangely now find saving up for purchases kinda fun. How odd, right??

4. Wherever you can, borrow or buy second hand.

For whatever reason, we as hyper consuming humans seem to be obsessed with buying the next “new” thing. It doesn’t matter what that thing is, we only know we need it and we want it brand spanking new.

The funny thing is, odds are you can likely borrow that “new” thing or find it second hand for a reduced cost.

Yeah, that’s right. This year I learned that libraries (aka borrowing centres) have tons to discover. Beyond books, there are games, music, TV shows, movies, electronic devices and so much freaking more!

And when borrowing is a no-go, second hand markets will likely have what you’re looking for. So if you want to save a dollar or two…or five-hundred, search out used, slightly loved versions of what you’re looking for.

Yes, certain things need to be purchased new, but for everything else I will try my darndest to find it second hand.

5. Going car free…was a choice.

I went car free for the majority of this past year (I can’t believe it either). While I know cars and motorized transportation is very much a necessity in the poorly designed communities and cities we’ve built, I learned that it *is* possible to go without a car.

That said, will I be continuing to live car free? Heck no (I will be buying a car very shortly). And yet, will I be driving everywhere, forsaking all other forms of transportation? Also, heck no.

Here’s the truth - cars are deliciously convenient machines, poised in our driveways to take us anywhere our hearts desire. Cars are also flipping expensive and turn seemingly rational humans into irate maniacs when there is a wisp of traffic (don’t believe me, try driving to Toronto).

Though I plan to purchase a car, I also plan to keep walking, biking, carpooling, and taking alternative forms of transit where I can. My car will be well loved, but used more to complement my life rather than be the focal point.

Plus, biking is dope.

6. Discount grocery stores are a must.

Food is so flipping expensive (screamed every Canadian at some point this year)! That said, deals can be found and discount grocers are the lifeblood of saving money.

After reviewing my expenses for the year, groceries were the thing I spent the most money on after rent. I’m sure this information shocks no one. Here’s the thing though, had I purchased my food at regular grocery stores, I would have spent hundreds more. Hundreds!

Interestingly, your tastebuds will not know if you bought your bananas for $0.99/lb or $0.79/lb. And the same goes for most everything else. Seriously. You’re not a hero for paying $5.99 for broccoli, no one will build a statue in your honor.

I will forever purchase the majority of my groceries at discount stores. It makes literally zero sense not to.

7. Find your tribe of weirdos.

Community matters. Who you surround yourself with matters. Finding people going through similar things matters.

More than anything, I’d say finding a group of humans who are on a similar financial journey helped me tremendously this year. When you realize you aren’t alone, it changes how you take information in and, to an extent, how you operate. You begin to realize that people are there to talk through topics most of us have a difficult time with - like our personal finances, for example.

An important way to help achieve your goals is finding a group of likeminded humans who want you to succeed. You’re ultimately there for each other, and your collective community of support can help you all stay the course.

Find your people.

8. When it comes to saving money, f*ck what people think.

I know, this one is a tough one for a lot of people. But here’s the thing - it’s your life. If you want to do something truly wacky - like saving 50% of your income or buying a life size cardboard cutout of Ryan Gosling to keep in your basement - do it! We all get one crack at this thing called life, and we need to do what’s right for us, which means, if you want to get your financial poop in a group - do it, save your freaking butt off!

The odd thing is that we often spend so much time thinking about what others *might* think of our actions or choices, when really everyone is so self obsessed most people won’t even notice. And those who do have a word or two to say about your choices and if those words aren’t supportive, tell them to shape up or ship out.

In 2025, we only have time in our lives for people who want to celebrate us.

F*ck everyone else, go save that money or do whatever it is you want!

Surpassing Goals

Well, that about sums up the major lessons I learned this year. I mean, there are many smaller lessons and weird factoids I now know about personal finance in general, but I digress.

Now it’s time for the juicy, moist, slippery info you’ve all been waiting for - did I hit my 50% savings goal? Drumroll…

I did.

Woooooo!! Crowd goes wild! *Bows* Thank you, thank you.

The truth is, I actually did better than 50%. I, uh, managed to save significantly more than 50%... I use the utterance “uh” because thanks to a mathing error (remember, I don’t maths well), I miscalculated a wee bit.

In total I was able to save 61.1% of my next income.

I know! I’m as surprised as my cat is when I inadvertently spook her in the morning.

So I did the thing…and then some. Sheesh! Who would have thought? Not I. And yet, here I am all the same.

Thank You!

As I close out this year and this blog, I must say that I’m thrilled to have reached my goal. I’m now on a better financial path than I was a year ago. I’m more secure and closer to being financially independent. These realizations, reflections, and progress are truly priceless.

With this in mind, if you’re thinking about doing anything equally scary, crazy, or difficult I’m here to tell you that you can do it. You can do the big, scary thing. You can go after your goals, you can pursue your dreams (whether personal finance adjacent or otherwise), you CAN do it! I cannot stress this enough. All of us can do the thing we’re afraid of, I promise you, you can.

You can.

In closing, from the bottom of my heart, thank you for following along this last year. Your support has meant the world to me.

Whatever this next year brings, just remember, you’ve totally got this!

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Over the past many weeks of creating content and templates, I realize that to help sustain this passion project I would be grateful for your support!

For those with a dollar to spare, I’ve set up a Buy Me A Coffee account for folks to contribute to here and there. For those frugally focused, I would be incredibly grateful if you were to share my work with your networks and folks you think would enjoy my journey (via email, social media, or homing pigeon).

A special thank you to those who contributed to my Buy Me A Coffee or shared a post! Your support means the world to me - truly.

Whether you're able to contribute or not, I’m so glad you’ve joined me on this journey!

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