We have a financial emergency plan- a Plan B budget, based on my possible loss of job (hubby has a 3 year contract). We have exactly enough to last 6 months, so the plan is to move within 2 months if necessary, so we do not deplete our savings.
We also have a "real" emergency plan- it involves 4 money belts- one for each member of the family- complete with some 20 dollar bills, and xeroxes of things like birth certificate, license, and passport. Why? In a real emergency, like fire or flood, trying to prove who you are to have access to your money, or records, can be extremely arduous, and waste weeks.
We are currently working on a "bug out" plan- in case of societal distress. Far less likely, but I've always planned to retire to a home in the woods anyway!
Deruitter is not much of a small business person, especially when he/she does not know the law. Not only bad advice, but untrue and not enforceable by judges and/or any other imagineable characters.
This would be impossible for many people living with arthritis or other ailments. If you get cold your joint become very painful and achy. I think there is a big difference between walking around your house in a t-shirt in the dead of winter and having it warm enough to be comfortable with a sweater on. I will not freeze just to save some money. There are many other areas to cut back on but heat is not one of them!
These are some great (and interesting) ideas! I started rock climbing about a year and half ago and I absolutely love it. It's quite popular here in the SF Bay Area. Yes, gym membership can be expensive but because a lot of times gyms are trying to recruit new ppl to participate in the sport, you can easily negotiate with them. I got a family membership that reduced the monthly fee by $20.
Also, you can view this as a social activity. I use my bi-monthly pass on friends so it saves me money by not doing more expensive activities. It's a good time and most people are eager to try it.
My dad did this with travel, and it was a huge pain in the ass the other 345 days a year ("How can you say I'm cheap when we took a vacation to Europe?") A terrible choice, in my opinion, because I would have preferred a little more moderation in everyday life and half as many trips.
We have an emergency plan in place, but it goes beyond just money and how to respond to a job loss. There are many places you can access cash, including HELOC, Roth's, either 401k or IRA, with 5 yr investment and reselling stuff. However, I think any plan should include figuring out how to feed yourself or your family in the event of any emergency. I've been watching the events in Egypt and that is the classic example of when you need to have a plan, put it into action quickly, and that plan might include evacuation, too. Fortunately, US is somewhat stable politically, but I'm sure the Egyptians thought the same thing before the rioting began, given that Mubarak was there for 30 years.
For me its sports and fitness, mostly running and soccer, with the latter costing more due to league fees. Other than that though, I am pretty good about living well within my means in a relatively minimalistic manner. Of course there are exceptions here and there, but not regular and repeated.
I can't believe you mentioned LARPing as a suggestion. I laughed out loud. I don't do it myself but can totally see the copious amounts of walking and hiking done. That was such an unexpected and great suggestion (along with the other great suggestions). Keep it up Andrea!
I have to say, I do two (and a half) things on this list.
I play Roller Derby: Two to four times a week I strap on my skates and gear. Practices are anywhere from 2-3 hours. Sometimes there is an hour scrimmage in there. Sometimes an hour of plyometrics as well. It gets pretty rough before you can start playing. Eventually, you forget it is exercise, though. We do a lot of core, and leg strength training in the off season as well.
Another con: The gear can be expensive. Sure, when you first start out you get he $100 skates, and $30 pads, the next season you upgrade your pads to the $40 nice/pro gear, and then up to the nicer skates (250 and up). Also, kiss your SO, and tell them to come along... less they become another Derby Widow(er).
Oh hey, I also LARP!
Yes, I am a nerd! I wear 20lb chain mail and run through the woods with my fake sword. I save the world twice a month on the weekends ;-)
Within the LARP, I can say I do another thing on this list. Several times a year, a group of us gets together informally as a Dance Troupe... we Belly Dance.
All of these things have helped me stay at a decent weight, though, I admit I am not losing (I blame genetics right now, because I cannot think of anything else).
Anything on this list is worth trying.
Thanks for an awesome article!
I splurge on my commute to work. Instead of taking a regular subway $2.50 each way, I spend $5.50 each way. Having a comfortable seat in the morning and avoiding the rush hour on the subway and thus starting my day right (stress free) - more than make up for the extra $3.00 i pay. Same thing goes when I'm dead tired at the end of the day and have no energy to be standing in the subway.
I could easily save $6.00 /day ($30/week) but I save on lunch instead by cutting down on eating out. Or I could start taking the subway in the evening at least twice a week.
I spend a good deal on my groceries--for my budget, at least. This means probably $50 a week. But, I have to say that I eat really well--mostly organic with lots of fruits and veggies and no processed food. (And about 2 bottles of wine a week...) I do it by shopping at discount grocery stores. I live in Oregon and I'm moderately obsessed with the Grocery Outlet. If you know how to shop there and what to look for you can find some amazing buys.
Oh, and hair products. I love my Frederic Fekkai glossing cream. It's $27 a bottle, but I can make one bottle last 3 months.
A "con" of martial arts isn't "wearing pajamas"; it's getting seriously injured, especially if you're already out of shape. A "con" of roller derby isn't being social; it's receiving broken legs, sprained ankles, and black eyes.
Comparing plastic to plastic? Yeah ok, sorry to bust your experiment but your comparing plastic to plastic. How about experimenting with real cash and leave out the monthly expenses that must be paid, thanks.
Proof I picked the right guy... while watching tv tonight an ad for the Superbowl flashed for a moment - he looked confused for a moment and said - verbatim - "Oh. Right. The Superbowl is this weekend. Huh." and went back our normal conversation.
Well... that's proof, along with the whole "I married a guy who made custom combat capable lightsabors for our wedding party" thing that helps me know I got the right geek to my nerd.
I had a dream to make my own organization, nevertheless I didn't have got enough of cash to do it. Thank heaven my dude told to use the home loans. Thus I used the car loan and made real my dream.
Debit card is not cash. It is plastic just like your credit card. This entices article, your experiment is unsound. Get back o us when you compare plastic with green cash.
I agree w/ Matt. Unless you do a month w/ cash (or even a year) and then a month (or year) w/ credit cards, you can't really compare. (As as side note - I lived for the first six years of my married life using credit cards. I was broke, in debt, and didn't have any financial stability. Now, I've lived for nearly six years w/ out them, and I'm debt free, buying home, am investing, and am on solid ground. The two major changes? I started living on a budget - and I stopped using credit cards.)
I'm obsessed (Okay maybe just a bit concerned) with dust. I hate it. Especially on baseboards. Couple that with my disdain for cleaning, and I definitely have a problem. I like your approach! :) Good article.
Hi Darwin, Thanks for the summary. Although I'm glad the Bush tax cuts rolled over, I'm also worried about the increasing national debt. I think we are headed for some inflation. Nice article
Investment in a house is just another investment. Would you not dump bad investmets in the market that looked hopeless? A home is just another investment.
Dump it !!!! Buy another while it is low cost. That simple. You have no moral obligation to keep looseing investments of any kind. Do what is best for you and your family. Don't ride a dead horse....
We have a financial emergency plan- a Plan B budget, based on my possible loss of job (hubby has a 3 year contract). We have exactly enough to last 6 months, so the plan is to move within 2 months if necessary, so we do not deplete our savings.
We also have a "real" emergency plan- it involves 4 money belts- one for each member of the family- complete with some 20 dollar bills, and xeroxes of things like birth certificate, license, and passport. Why? In a real emergency, like fire or flood, trying to prove who you are to have access to your money, or records, can be extremely arduous, and waste weeks.
We are currently working on a "bug out" plan- in case of societal distress. Far less likely, but I've always planned to retire to a home in the woods anyway!
Deruitter is not much of a small business person, especially when he/she does not know the law. Not only bad advice, but untrue and not enforceable by judges and/or any other imagineable characters.
This would be impossible for many people living with arthritis or other ailments. If you get cold your joint become very painful and achy. I think there is a big difference between walking around your house in a t-shirt in the dead of winter and having it warm enough to be comfortable with a sweater on. I will not freeze just to save some money. There are many other areas to cut back on but heat is not one of them!
Awesome! Thank you for sharing with us!
Snow shoveling!
These are some great (and interesting) ideas! I started rock climbing about a year and half ago and I absolutely love it. It's quite popular here in the SF Bay Area. Yes, gym membership can be expensive but because a lot of times gyms are trying to recruit new ppl to participate in the sport, you can easily negotiate with them. I got a family membership that reduced the monthly fee by $20.
Also, you can view this as a social activity. I use my bi-monthly pass on friends so it saves me money by not doing more expensive activities. It's a good time and most people are eager to try it.
Your question inspired a blog post! I wrote about it on my personal finance blog: http://savvyyoungmoney.blogspot.com/2011/02/go-ahead-live-little-and-spl...
My dad did this with travel, and it was a huge pain in the ass the other 345 days a year ("How can you say I'm cheap when we took a vacation to Europe?") A terrible choice, in my opinion, because I would have preferred a little more moderation in everyday life and half as many trips.
I find Super Bowl Sunday to be a great time to get in my Home Depot run.
We have an emergency plan in place, but it goes beyond just money and how to respond to a job loss. There are many places you can access cash, including HELOC, Roth's, either 401k or IRA, with 5 yr investment and reselling stuff. However, I think any plan should include figuring out how to feed yourself or your family in the event of any emergency. I've been watching the events in Egypt and that is the classic example of when you need to have a plan, put it into action quickly, and that plan might include evacuation, too. Fortunately, US is somewhat stable politically, but I'm sure the Egyptians thought the same thing before the rioting began, given that Mubarak was there for 30 years.
For me its sports and fitness, mostly running and soccer, with the latter costing more due to league fees. Other than that though, I am pretty good about living well within my means in a relatively minimalistic manner. Of course there are exceptions here and there, but not regular and repeated.
I can't believe you mentioned LARPing as a suggestion. I laughed out loud. I don't do it myself but can totally see the copious amounts of walking and hiking done. That was such an unexpected and great suggestion (along with the other great suggestions). Keep it up Andrea!
I have to say, I do two (and a half) things on this list.
I play Roller Derby: Two to four times a week I strap on my skates and gear. Practices are anywhere from 2-3 hours. Sometimes there is an hour scrimmage in there. Sometimes an hour of plyometrics as well. It gets pretty rough before you can start playing. Eventually, you forget it is exercise, though. We do a lot of core, and leg strength training in the off season as well.
Another con: The gear can be expensive. Sure, when you first start out you get he $100 skates, and $30 pads, the next season you upgrade your pads to the $40 nice/pro gear, and then up to the nicer skates (250 and up). Also, kiss your SO, and tell them to come along... less they become another Derby Widow(er).
Oh hey, I also LARP!
Yes, I am a nerd! I wear 20lb chain mail and run through the woods with my fake sword. I save the world twice a month on the weekends ;-)
Within the LARP, I can say I do another thing on this list. Several times a year, a group of us gets together informally as a Dance Troupe... we Belly Dance.
All of these things have helped me stay at a decent weight, though, I admit I am not losing (I blame genetics right now, because I cannot think of anything else).
Anything on this list is worth trying.
Thanks for an awesome article!
I splurge on my commute to work. Instead of taking a regular subway $2.50 each way, I spend $5.50 each way. Having a comfortable seat in the morning and avoiding the rush hour on the subway and thus starting my day right (stress free) - more than make up for the extra $3.00 i pay. Same thing goes when I'm dead tired at the end of the day and have no energy to be standing in the subway.
I could easily save $6.00 /day ($30/week) but I save on lunch instead by cutting down on eating out. Or I could start taking the subway in the evening at least twice a week.
I spend a good deal on my groceries--for my budget, at least. This means probably $50 a week. But, I have to say that I eat really well--mostly organic with lots of fruits and veggies and no processed food. (And about 2 bottles of wine a week...) I do it by shopping at discount grocery stores. I live in Oregon and I'm moderately obsessed with the Grocery Outlet. If you know how to shop there and what to look for you can find some amazing buys.
Oh, and hair products. I love my Frederic Fekkai glossing cream. It's $27 a bottle, but I can make one bottle last 3 months.
A "con" of martial arts isn't "wearing pajamas"; it's getting seriously injured, especially if you're already out of shape. A "con" of roller derby isn't being social; it's receiving broken legs, sprained ankles, and black eyes.
Comparing plastic to plastic? Yeah ok, sorry to bust your experiment but your comparing plastic to plastic. How about experimenting with real cash and leave out the monthly expenses that must be paid, thanks.
Proof I picked the right guy... while watching tv tonight an ad for the Superbowl flashed for a moment - he looked confused for a moment and said - verbatim - "Oh. Right. The Superbowl is this weekend. Huh." and went back our normal conversation.
Well... that's proof, along with the whole "I married a guy who made custom combat capable lightsabors for our wedding party" thing that helps me know I got the right geek to my nerd.
I had a dream to make my own organization, nevertheless I didn't have got enough of cash to do it. Thank heaven my dude told to use the home loans. Thus I used the car loan and made real my dream.
Debit card is not cash. It is plastic just like your credit card. This entices article, your experiment is unsound. Get back o us when you compare plastic with green cash.
I agree w/ Matt. Unless you do a month w/ cash (or even a year) and then a month (or year) w/ credit cards, you can't really compare. (As as side note - I lived for the first six years of my married life using credit cards. I was broke, in debt, and didn't have any financial stability. Now, I've lived for nearly six years w/ out them, and I'm debt free, buying home, am investing, and am on solid ground. The two major changes? I started living on a budget - and I stopped using credit cards.)
Lately I've been splurging on trips to the chiropractor. Trying to get a handle on these darn headaches.
I'm obsessed (Okay maybe just a bit concerned) with dust. I hate it. Especially on baseboards. Couple that with my disdain for cleaning, and I definitely have a problem. I like your approach! :) Good article.
Hi Darwin, Thanks for the summary. Although I'm glad the Bush tax cuts rolled over, I'm also worried about the increasing national debt. I think we are headed for some inflation. Nice article
Investment in a house is just another investment. Would you not dump bad investmets in the market that looked hopeless? A home is just another investment.
Dump it !!!! Buy another while it is low cost. That simple. You have no moral obligation to keep looseing investments of any kind. Do what is best for you and your family. Don't ride a dead horse....