$50 for vitamins, supplements, water filters, coffee, and green tea
$20 for non-food groceries and clothing
$5 pet supplies
$35 for public transport and everything else
Keep it simple! I have no car, no mobile phone, no iPod, no TV service. I never eat fast food or restaurant food. I only drink water, or water flavoured with coffee & tea that I brew at home. When my most recent airbed collapsed, I decided not to buy the third new one in less than 2 years. It is free to sleep on the carpet.
Ive helped out a bunch of people by telling them they should do something Ive been doing for almost 10 years now. I get direct deposit for my pachecks. I get $150 deposited into a savings account and the rest into my checking. Thats $7,800 a year for me. You can do less or more depnding... After just a few weeks, you dont even miss that extra money, cause you dont really see it. Ya get? I also, refuse to use any of the money I get deposited into my savings unless its for vacations. Or if its an absolute emergency, which fortunately I havent had to yet. Should give it a try...
auto-saving is such a great, fairly painless idea. when it gets deducted automatically/immediately, you don't even miss it. my husband and i both contribute 15% of our gross pay to our 401Ks thru auto-payment direct from our paychecks. so, don't really even 'see' it thus, don't miss it. paychecks get direct deposited so that they earn interest immediately. we use credit for almost all purchases so that is like getting an interest-free loan every month, while our money sits in our account earning interest until we pay our bill, in full, each month. i now keep very accurate records of our expenditures, our monthly outlays...to see exactly where our $$$ is going and where we can conserve or splurge. we recently went over our budget fully, made some significant changes to save more and will go over the budget say ever 6 months or so to track if we are on target for our goals. and sure, we've cut back considerably on many luxuries, and others...simply scaled back a bit. as with anything, it's all about balance.
And auto-saving can be increased easily... We started this with $50 a week. Not a ton, but basically $200 a month into savings. In a few months, I upped it to $60 (you're not going to miss $10 right?), then just gradually increased it. I'd skip times around the holidays or whatever when money is tight, but now we are up to $90 a week.
This money goes into an online savings account that takes a few days to get money transferred from, so it's not easy to splurge on stuff with.
We also do $100 extra every two weeks (I get paid every two weeks, wife weekly) into our bank savings account. This money covers any out of the ordinary expenses or splurges that we decide to make instead of putting it on a credit card.
I do need to increase my 401k contribution though...
My whole life
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
brown bag lunch for work, make coffee at home. cook meals at home, only eating out if with friends/family. i changed my cable plan since i wasn't watching most the channels i had, so i saved $40 a month on that alone!
coupons, LOVE coupons! always look for discount codes online if you are buying anything online and clip 'em for groceries. add as much to your savings as you can for an emergency. and i don't have any credit cards, cut them all up when i was done with them. if i can't buy something with cash outright, it doesn't happen (exception being my car but for everything else it applies!)
and i don't have any credit cards, cut them all up when i was done with them. if i can't buy something with cash outright, it doesn't happen (exception being my car but for everything else it applies!)
and i don't have any credit cards, cut them all up when i was done with them. if i can't buy something with cash outright, it doesn't happen (exception being my car but for everything else it applies!)
and Pearl Jam Tickets
haha well i do buy those outright....i have an emergency PJ fund
pay down debt faster. all i have any more is my house mortage. i increase my monthly payment so that in essence, i've doubled by principal portion. i don't have the numbers in front of me, but it will save a ton over the life of the loan as well as pay off the house some 10 years or so faster. that's the current plan at least
the nice thing about being poor, you don't seem to worry about money as much.
pay down debt faster. all i have any more is my house mortage. i increase my monthly payment so that in essence, i've doubled by principal portion. i don't have the numbers in front of me, but it will save a ton over the life of the loan as well as pay off the house some 10 years or so faster. that's the current plan at least
the nice thing about being poor, you don't seem to worry about money as much.
it is great only having a mortgage debt, isn't it?
idk how people can handle the big debt loads....would make me mad with anxiety. what you're doing with your mortgage payments IS a great thing! i'd eventually like to do that, but right now, we want to build up a bigger cash nest egg/emergency fund. that's my/our big goal for 2010. and just to build even better financial habits.
i find cutting back does make me happier.
i always watched certain expenses so we could splurge elsewhere....but i have found even cutting back on many of the splurges makes them that much more enjoyable.
:thumbup:
I'm gonna save you fucker, not gonna SPEND youuuu!
well done!
and everyone speaking of brown-bagging.....hell yes!
when i was teaching, really didn't have much choice; not a lot of time for lunch, and very few food options close-by. now in my current line of work and location, plenty of options...but i still prefer bringing my little lunch box in daily. i eat soooo well for so little. i cannot imagine throwing away money on lunch. same thing with coffee, etc. everything is from home, or on the firm. IF i am going to splurge on a meal or coffeee out, i far rather do it on MY time, outside of the workday, with friends, my husband or family...
I signed up about a month ago with a website that if you click through them to other sites to make purchases they give you the commission/cash back earned for the click through on your purchases (they take the first £5 (about $7.50) each year as a membership fee) and as long as you use it only to purchase things you would have otherwise is a good way to save some cash. It can take a couple of months for the cash to come through but so far been good for me.
So are we strangers now? Like rock and roll and the radio?
You should check out Ny times best seller "Financial Peace" by Dave Ramsey
It's a simple yet life changing guide that will show you how to:
1.Get out of debt and stay out
2.Use the principle of contentment guide to finacial
decision making
3.Build your own emergrncy fund
4.Communicate about money with your spouse
5.Instill good money habits in your children
6.How to deal with debt after a divorce or the death of a spouse
7.Manage your money as a single or a single parent
8.Get on a budget and stay on it ( The envelope method works great)
All in all it's a really good book and it's an easy read. He also has a sydicated talk show. He was also at one time in his 20's and 1.2 million in debt and got out of it by using the principals he teaches. you can catch him on the Fox business network also.
all my uncle talks to me about is this guy.....especially for someone in "my situation" (just married, renter, both with solid jobs)
it is great only having a mortgage debt, isn't it?
idk how people can handle the big debt loads....would make me mad with anxiety. what you're doing with your mortgage payments IS a great thing! i'd eventually like to do that, but right now, we want to build up a bigger cash nest egg/emergency fund. that's my/our big goal for 2010. and just to build even better financial habits.
.
just dug up the numbers in my magical net worth excel file with loan amortization calculations....if i contine paying the amount i'm paying now, it will knock 100 months off the back end of the loan and reduce intrest by 30.6% over the life of the loan. i guess i should up the payment a little more. anouther $100 per month would knock off 122 months, thus reduing to the loan term to just udner 20 years and the resulting intrest savings would increase to 36.7%.
i just need to start a car fund account someplace.
it is great only having a mortgage debt, isn't it?
idk how people can handle the big debt loads....would make me mad with anxiety. what you're doing with your mortgage payments IS a great thing! i'd eventually like to do that, but right now, we want to build up a bigger cash nest egg/emergency fund. that's my/our big goal for 2010. and just to build even better financial habits.
.
just dug up the numbers in my magical net worth excel file with loan amortization calculations....if i contine paying the amount i'm paying now, it will knock 100 months off the back end of the loan and reduce intrest by 30.6% over the life of the loan. i guess i should up the payment a little more. anouther $100 per month would knock off 122 months, thus reduing to the loan term to just udner 20 years and the resulting intrest savings would increase to 36.7%.
i just need to start a car fund account someplace.
yea, well i am not that handy with the numbers as you. :P i use excel but at a much more novice level. however, i read a lot about personal finance, and have read/heard of the massive savings by doing just this. also, got a couple of accountants in the family. it definitely is AMAZING how MUCH you can save...in both money and pay-off time, but following such a practice. hubby and i have discussed it a few times over. right now, it just doesn't fit with our budget, we have other goals to meet first, but it is definitely on the agenda.
and everyone speaking of brown-bagging.....hell yes!
when i was teaching, really didn't have much choice; not a lot of time for lunch, and very few food options close-by. now in my current line of work and location, plenty of options...but i still prefer bringing my little lunch box in daily. i eat soooo well for so little. i cannot imagine throwing away money on lunch. same thing with coffee, etc. everything is from home, or on the firm. IF i am going to splurge on a meal or coffeee out, i far rather do it on MY time, outside of the workday, with friends, my husband or family...
I want to smack people that I work with... most of them are younger (early-mid 20's), and they all complain about money. But, most of them eat out every day... and not just a couple slices of pizza, it's like a $8-$10 meal. And they come in every morning with coffee that they bought. It's gotta be an easy $250 a month on lunch and coffee for them.
I usually bring lunch, once a week maybe go get soup or pizza or something cheap (under $5), and maybe once a month actually go out for a sit down lunch or splurge on something.
My whole life
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
I signed up about a month ago with a website that if you click through them to other sites to make purchases they give you the commission/cash back earned for the click through on your purchases (they take the first £5 (about $7.50) each year as a membership fee) and as long as you use it only to purchase things you would have otherwise is a good way to save some cash. It can take a couple of months for the cash to come through but so far been good for me.
ebates? if anybody does go on there, pm me and I'll send you a invite, and we both get $5
Comments
$850 for rent with all utilities
$39 for my internet service
$1.66 almost-free phone service
$150 organic food
$50 for vitamins, supplements, water filters, coffee, and green tea
$20 for non-food groceries and clothing
$5 pet supplies
$35 for public transport and everything else
Keep it simple! I have no car, no mobile phone, no iPod, no TV service. I never eat fast food or restaurant food. I only drink water, or water flavoured with coffee & tea that I brew at home. When my most recent airbed collapsed, I decided not to buy the third new one in less than 2 years. It is free to sleep on the carpet.
And auto-saving can be increased easily... We started this with $50 a week. Not a ton, but basically $200 a month into savings. In a few months, I upped it to $60 (you're not going to miss $10 right?), then just gradually increased it. I'd skip times around the holidays or whatever when money is tight, but now we are up to $90 a week.
This money goes into an online savings account that takes a few days to get money transferred from, so it's not easy to splurge on stuff with.
We also do $100 extra every two weeks (I get paid every two weeks, wife weekly) into our bank savings account. This money covers any out of the ordinary expenses or splurges that we decide to make instead of putting it on a credit card.
I do need to increase my 401k contribution though...
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
coupons, LOVE coupons! always look for discount codes online if you are buying anything online and clip 'em for groceries. add as much to your savings as you can for an emergency. and i don't have any credit cards, cut them all up when i was done with them. if i can't buy something with cash outright, it doesn't happen (exception being my car but for everything else it applies!)
and Pearl Jam Tickets
pay down debt faster. all i have any more is my house mortage. i increase my monthly payment so that in essence, i've doubled by principal portion. i don't have the numbers in front of me, but it will save a ton over the life of the loan as well as pay off the house some 10 years or so faster. that's the current plan at least
the nice thing about being poor, you don't seem to worry about money as much.
Bring your own lunch prepared at home!
local grocery store, you can get a bowl of soup and a bag of chips for 2.57, drink water. pretty cheap.
today is turkey and swiss from home.
i'm loaded now...well not really but it seems like it in comparison
it is great only having a mortgage debt, isn't it?
idk how people can handle the big debt loads....would make me mad with anxiety. what you're doing with your mortgage payments IS a great thing! i'd eventually like to do that, but right now, we want to build up a bigger cash nest egg/emergency fund. that's my/our big goal for 2010. and just to build even better financial habits.
i find cutting back does make me happier.
i always watched certain expenses so we could splurge elsewhere....but i have found even cutting back on many of the splurges makes them that much more enjoyable.
:thumbup:
well done!
and everyone speaking of brown-bagging.....hell yes!
when i was teaching, really didn't have much choice; not a lot of time for lunch, and very few food options close-by. now in my current line of work and location, plenty of options...but i still prefer bringing my little lunch box in daily.
Let's just breathe...
I am myself like you somehow
ps- havent started following anything yet
-Greg Dulli
just dug up the numbers in my magical net worth excel file with loan amortization calculations....if i contine paying the amount i'm paying now, it will knock 100 months off the back end of the loan and reduce intrest by 30.6% over the life of the loan. i guess i should up the payment a little more. anouther $100 per month would knock off 122 months, thus reduing to the loan term to just udner 20 years and the resulting intrest savings would increase to 36.7%.
i just need to start a car fund account someplace.
then ask him to help out when needed
yea, well i am not that handy with the numbers as you. :P i use excel but at a much more novice level. however, i read a lot about personal finance, and have read/heard of the massive savings by doing just this. also, got a couple of accountants in the family.
kudos to you!
Let's just breathe...
I am myself like you somehow
I want to smack people that I work with... most of them are younger (early-mid 20's), and they all complain about money. But, most of them eat out every day... and not just a couple slices of pizza, it's like a $8-$10 meal. And they come in every morning with coffee that they bought. It's gotta be an easy $250 a month on lunch and coffee for them.
I usually bring lunch, once a week maybe go get soup or pizza or something cheap (under $5), and maybe once a month actually go out for a sit down lunch or splurge on something.
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
ebates? if anybody does go on there, pm me and I'll send you a invite, and we both get $5
that sounds dirty