A Redditor Who Bikes To Work Both Ways Wants To Reduce Their Spending Even More: 'What Else Can I Cut Out?'

It's good to cut expenses, but at what point does it go too far? A Redditor bikes to work both ways. It's a 15-minute commute by bicycle, but when the sidewalks are slushy, he walks an hour one way to his job. 

On some winter days, he's freezing cold when he walks. He bought a car for himself for about $18,000, but he then immediately initiated a return after thinking about how much money it cost. Walking in the cold isn't enough for the Redditor, as he wants to reduce expenses even more.

"What else can I cut out?" he asked the Personal Finance Reddit community.

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It's good to cut costs, and the community gave him some great ideas. However, once you get a closer look at his finances, you may start to think that he's spending too little.

Cheap vs. Frugal

Frugal living means you reduce expenses in a conscious way without making big hits to your quality of life. You focus on things that matter instead of the non-essentials. However, there's also cheap living, which includes cutting so many expenses that you have a lower quality of life, even when it isn't necessary.

Walking in freezing weather when you can afford a car doesn't make much sense. Yes, the original poster can afford a car. He makes about $10,000 per month after taxes and listed the following monthly expenses:

• Rent: $1,150
• Food: $500
• "Fun": $300
• Wife's car payment: $174
• Wife's car insurance: $89
• Streaming: $60

It still comes to about $7,725 per month in post-tax money that he typically invests. He has enough money to buy a car, and if he really doesn't want to buy a car, he can afford Uber and Lyft for the freezing days.

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Cutting On Streaming

The Redditor doesn't have many expenses that you can trim. Rent and car payments are essential, and he invests most of his money. The only caveat is that the Redditor can trim their streaming bill. You can find great movies at the library or use fewer streaming platforms.

He currently spends $60 per month on streaming, which comes to $1,200 per year. That's $24,000 over the next 20 years, and that doesn't even include inevitable price hikes that come along the way. 

However, the Redditor seems to be at a point where it's very hard to cut any additional expenses without meaningfully reducing his quality of life. You have to spend some money to maintain a good lifestyle.

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The Redditor Is In A Great Position

Based on the Redditor's income and expenses, he is in a great position. Normally, people endure cold walks to work if finances are tight. However, it's okay for the Redditor to spend some extra money each month.

Cutting expenses can help if you've never looked at a budget. However, there's only so much you can cut. The best way to grow your wealth is to focus on increasing your income. There's no ceiling to how high your income can go if you learn the right skills. However, there is a firm limit on how much you can reduce your spending. 

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