Budgeting is something that, for me, is a constant struggle. Even as a single 20-something who's climbing the corporate ladder, saving is still nearly impossible. What can I say, I'm an impulsive spender.
Last year one of my friends went on an all cash diet, spending little and paying off his debts in lump sums with every pay check that rolled around. It seemed to be working for him, but I just don't think I have the will power to do that.
Let's be honest here, I'm a girl who loves to travel, experience good food, and spend a night on the town with friends from time to time - none of which are inexpensive.
There are a couple lengthy trips coming up that I desperately need to save for, so I've been doing my best to cook at home and be as frugal as possible. This weekend I even managed to go to the mall and not buy a thing! I know, right?
So tell me dear readers, what are your saving strategies? Do you develop a full out budget or just hope that you have enough will power not to spend?
Cheers!
-A
12 comments:
The cash thing helps. I notice I spend less when I can visibly see the decline. I hate using cash, though, so its rare I do it.
I hate budgeting and saving as well, but it's a necessary evil. And that pisses me off even more.
All my money is going out the window on groceries, which seem to have increased in cost--or I'm eating more and better. I don't spend a lot, regardless. I would say my spending is the same now as it was a year ago. Besides normal costs throughout the month, I pay $45 for a gym membership, $38 for basic cable and broadband. And that's it!
The biggest purchases I've made in the last four years are...
Bike: 2004. New. $800.
Laptop: 2005. Refurbished. ~$600.
Car: 2005. Used. $15,000.
To entertain myself, I do free stuff, like the library or a museum. In the summer I'd take the train to Little Italy with a magazine and got lunch. I'd go to the beach and hang out. Ride my bike.
I'm easily amused!
perfectlycursedlife - ack, I hate using cash too. going to the atm is always a pain.
jamie - summer always seems a little easier, I'm usually out and about with my camera. I'm definitely tagging along to Little Italy the next time!
ugh, budgeting is such a struggle for me too! even now that i'm unemployed and my cash is quickly dwindling, it's still hard! i've recently taken to not using credit cards at all. ever. and to help me be more accountable for my money, i've set up an excel spreadsheet with my monthly expenses and a budgeted amount for things like food, entertainment, toiletries, etc. and fill in the budgeted amount and actual spent amount and compare the two to track where my money is going.
i also use mint.com which is amazing! and free!
Ugh! The B word. I've been struggling with this myself. I started using Quicken to help manage my expenses and watch where my money is going.
invite your friends over for dinner instead of going out from time to time, have them bring wine.
what are saving strategies??! ; )
first thing i did to cut back was stop my monthly pedicures and bi weekly manis.
i saved a shit ton of money - oh and i quit smoking so much
Whenever I need to save money...I stay out of the bars for like a week.
that saves me like, $500.
I limit myself to eating out. I find planning weekly meals helps and if I'm going to the gym right after work, there's no way I'm going out to eat. I'd rather stay at home.
I also find it helpful to transfer whatever is left in my checking before each paycheck into my savings.
I usually write out an estimate of what I will need money for and use that as a guidepoint. I try to put a little bit away every paycheck , but honestly I'm not very good at it.
You're like me.
You only live once!
But I always make my lunches and party hard/dine out on weekends.
I seem to do alright
miss merry - i've heard about mint.com. when i've got some time i may have to check that out.
anna - when I was in the big D I did set up Quicken...not sure what happened with that.
susan - dinner in with friends...great idea!
alexa - i was hoping you had some.
matt - $500 a week at the bars, yikes!
allison - bringing my lunch has seemed to help quite a bit.
maxie - that seems like a lot of work.
so@24 - money is for spending, right?
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