Yahoo Finance is producing an ongoing series of videos for their Financially Fit column. Each video focuses on an individual’s story. For example, they follow a New York City resident who saved $14,000 throughout the past year by downsizing his apartment and by choosing staycations rather than traveling.
Personally, I don’t really consider “not spending” money as saving money, which would be the case with the vacations, but it allowed this particular individual come up with the calculation. The series is hosted by Farnoosh Torabi, who has been a guest on the Consumerism Commentary Podcast.
Watch one of the videos in the series here:
Have you saved thousands of dollars and are you willing to share the story? I bet most Consumerism Commentary readers will be able to come up with a creative calculation to showcase savings.
The Yahoo Finance producers are looking to feature someone living within a day’s driving distance of New York City, and they will drive to you to film the feature. If you have an excellent story, though, and you don’t live in the states surrounding this particular metropolitan area, they will fly to your location.
There’s one catch: As the series is underwritten by a credit card company, the savings tactics including in your story can’t include cutting up credit cards or switching to a cash-only philosophy for your expenses. It shouldn’t be too difficult to get around that limitation, and as I said, if the sample video included above is any indication, your calculation can be somewhat creative. As part of his $14,000 savings, Anshey Bhatia saved $6,000 by not taking large vacations. Using the same logic, I saved $70,000 this year by not buying a BMW 335is Convertible.
Then again, I suppose that since I haven’t been in the habit of buying BMWs in the past, there wasn’t really a change in my approach that resulted in that savings. Perhaps you will be more creative than I.
If you have a story about your own saving accomplishments and are willing to go on camera to tell it to an audience, let me know — either in the comments or by contacting me. I’ll pass your information to the producers. While they are looking for people available in the next few days, this is an ongoing series, so the opportunity won’t be going away.