When I transitioned to trading full-time I always suspected, but came to realize that you don’t need nearly the amount of money you think you do make a living.

Here are some things I’ve found:

• Airline tickets are half when you are flexible and particular dates don’t matter.
• When you work at home you don’t go out to restaurants as much – you can eat healthier, pay half, and save money on gas (without the stress of driving).
• Health insurance is a big cost, but the Affordable Care Act subsidizes the cost of health insurance – I have a comparable HMO plan to my previous employer subsidized plan for half the cost of the full PPO plan. You just need to be ok with using an HMO plan. In all honesty, even my best employer-subsidized plans didn’t pay for a lot and I still had to plan a lot out of my own pocket for the plan. As health care grows more expensive, employers are paying less.
• Do you need a car? If you work at home and live not too far from a downtown area you use Uber and public transportation and get rid of a car. Average car ownership costs are over $8,000/year. Even if you decide to keep your car, with gas rising quite a bit you will save a lot on commuting costs. Plus, you can lower your insurance premiums by reducing coverage. Personally, I much prefer taking an Uber or even public transportation compared to driving.
• Have you checked your mailbox? Quality restaurants are sending direct mail coupons. The deal? Usually 50% off. Say you save $40/month, compounded over 10 years is $5300.
• Costco! Buying in bulk from Costco lowers the cost for most household supplies. I would say you can save 50-70% off in most cases. Costco is great for single people too. I would estimate I save $2,000 -$3,000 buying from Costco. Get their credit card and join their higher-tier Executive membership.
• Do you like to use Amazon.com? Add essentials to your wishlist and check it throughout the day. Items will randomly go on sale for up to 50% off. You just need to be available to purchase at the right time.
• eBay – sell some items around the house. If you’re like me, you have a lot of items around the house you no longer use. eBay is a large marketplace where you can get fair prices for your items. Aside from the extra money you’ll make selling items, it feels great to clear your space. Also, you’ll feel good knowing your items will find a good home. Many people on eBay need discounted items and will be grateful to receive them.