Does anyone have any good tips on how to "penny-pinch"? I'm hoping to increase the amount of money I put towards loans per month. I'm currently paying $1,500/month, and if I continue at this pace, I will pay off all my loans in 7 years. That's not too terrible, as I will only be in my mid 30s at that point.
But I'd like to pay them off faster, if at all possible. I'd like to cut back on needless spending, which I am fully aware I do. Starting about 8 months ago, I stopped going out for lunch every day (cut it down to once a week, if at all). That has had a significant impact. I also stopped drinking espresso drinks everyday (again, significant impact).
My sister (financial advisor) recommended that I delete my saved payment method off Amazon, as I believe that is the main culprit of my needless spending. To be blunt, I probably drop $400/month buying dumb stuff off Amazon. Feel free to chastise me there, as I probably deserve it. As of this morning, however, I no longer have any saved payment method.
There are few things I'd still like to spend money on (dates with SO, happy hour, events with friends). I can cut back on those things, but I do not want to excise them completely.
Are there any other things I could do? Ideally, it'd be something that quickly becomes a habit, and would save me money and somehow go unnoticed that I am doing (if that makes sense). As in, I'd be penny-pinching without realizing that I'm penny-pinching.
My sister also recommended that I treat every paycheck as 20% less than it actually is. As in, I budget as if I could live off my paychecks being 20% less, which in turn, produces more money. That money then can get pumped into student loans. But, I'm not sure if this will work for me.
Any candid advice is welcomed