Australia along with most of western civilisation is driven by consumerism, but there are two individuals by the name of Jasmine and Aaron Boothey and their two kids who fight the urges of retail. The family earn a decent income and they do not struggle to pay monthly bills, but they choose to live well below their means as a result.
Saving money and living a savvy lifestyle enables the family to save up to $60,000 per year, which is nearly two thirds of their after-tax income. If you would like to adopt more of their lifestyle so you too can save extra money each year then learn about what habits help this family, so you can help yours.
The Bootheys’ are only one family out of millions who have become extreme budgeters across the country. Their code of conduct is to save as much money as possible whilst exchanging budgetary tips with other like-minded people online. The reason these people behave this way is because they all have the same general goal of reaching financial independence and early retirement.
Their joint income is $125,000 per year and each year they set themselves financial goals that are always a little out of reach. They break them down into smaller monthly targets to help them become more manageable. Jasmine for example only waits for clothes sales to buy new items and only ever upgrades when clothes need to go. No piece of clothing is replaced in the family until it literally breaks.
The family always avoid debt too, the only form of borrowed money they have accepted is a mortgage. They strongly believe that if somebody wants something in the family, then they must save up for it because a loan is cheating.
The Boothey family along with all other super-savers are very well adapted to living on lean budgets which are encouraged by their resourceful attitudes. The need for luxuries goes out the window and spending money simply for the sake of following the trend is separated from their priorities.
If you would like to know what other money saving activities these guys get up to then below is a brief list of what they do around the house and with their kids:
- Wash clothes in cold water
- Turn the thermostat down on water systems
- Buy a coffee machine rather than buying coffee out
- Efficient shower head can save over $100 per annum
- Always fill the dishwasher to full
- Plant water friendly plants in your garden
- Cheaper nappy brands could save over $700 per annum
- Join a toy library for less clutter and always new toys
- Search local government websites for free family fun in your area
- Nametag your child’s clothing
The Australian Bureau of Statistics revealed data about the unequal spread of wealth across Australia, with statistics showing that the average Australian household has weekly disposable income of $998. Low-income households have less than half of that amount at roughly $407, whilst a worrying 26% of household shave total debt three times more than their income. It’s these broad divides between wealth that have encouraged events such as Australia’s ‘Buy Nothing New’ month in October. This period is promoted as a detox from wasteful consumption and instead people are encouraged to swap, rent, share, borrow or recycle/upcycle.
If you have any tips or suggestions for the Buckscoop community then please feel free to share your thoughts in the comments section below.