Posted by Mike Smith :: October 2, 2008 @ 9:11 am

When trying to cut back on spending, we often eliminate activities that bring us joy. The frustration that ensues can cause us to give up and revert to our old ways. A better method is to try to separate our leisure from our spending. That will allow us to still do some of the things we enjoy while eliminating the negative aspect of the activity.

I love going to the bookstore. Spending a few hours at a Barnes and Noble on a Sunday afternoon, sipping a coffee, and immersing myself in a wide array of topics (ok, so I generally wind up in the business and finance section) is my idea of bliss. I love to read, so most trips end with a stack of books that I’d like to buy. Rather than eliminating these enjoyable trips to the store when I wanted to cut my book spending, I simply replaced the final step. Instead of buying the books, I make a note of them (and their prices) and leave without buying any of them.

When I return home, I login to my library account and see which books they have available. Usually they have at least half, if not all, of them. I search for the remainder on Amazon.com and purchase any that are significantly reduced. I occasionally allow myself to purchase a book I am really interested in even if it is only slightly reduced. By using this technique, I still get to do the activity I enjoy and read most of the books I would have purchased. I just spend about 75% less to accomplish it. With the amount I had been spending on books, this was a significant savings. I was able to slash my book budget from about $400 a year to a mere $100.

Any time you can get the same enjoyment from a product or service while spending less money, you’ve found a good deal. By separating the activities you enjoy from the money you spend on them, you may be able to do just that. Before you give up a favorite activity just to save money, or avoid cutting an expense because you enjoy it too much, see if you can separate the part you enjoy from the part that costs you money.