My worst habit is that I fly out of the house in the morning without getting breakfast- and end up buying a bagel and coffee more frequently than I'd care to admit.
I can get my act together to pack lunches- somehow I think each morning will magically allow time for me to eat at home before my bus to work each day.
ALso- to ANthony Marrone- I live in Syracuse. The market for housing is way inexpensive- but the issue is- where are the jobs? If you work at all, you can afford a great house here. However, sometimes when people come from out of state, they end up having to buy McMansions to avoid too much tax burden from the sale of the prior home. Then the taxes and upkeep of the huge house become killer--- I have seen this happen way too many times.
She logged on to read your piece while we were on the phone and we brainstormed for a while. She says thank you for giving her some strategies on a day she thought she had none.
We haven't done car payments as a couple. Ever. That being said, I can certainly see where life circumstances might force us into that if everything came crashing down at once.
Even without the car loans though, I hear you on the additional costs. We do the remote car starter thing too, when the temperature dips below a certain number at night. Because we are now writing and studying at home, our monthly gas budget has decreased some, as has our insurance since our mileage on both vehicles is now minimal.
Again though, it's still freaking expensive. Partly because we live so far from things. Part of the tradeoff we made for affordable lakefront property, but some days it's hard to remember that when the gas costs here are so far above what everyone else in the country is paying. Ditto with groceries and such.
Since I haven't had my coffee yet, I realize I've likely reached the point of rambling. I'd be interested in anyone else's take on vehicle expenses.
I would have never thought that you could fit a whole chicken in a bike's saddle bag — when I biked to school, I relied on mine for my books and what not, but they never seemed that big. Congrats on fitting the chicken, struggle though it may have been. :)
We live in Upstate New York; the housing market in this area is a far cry from that in the SF bay area. My law school buddy from SF marvels when I tell him you can buy a really nice 2,500 sq. ft. house for under $150,000 easily in some of the best neighborhoods.
That being said, prices in my area are on the rise, assuring that this buyer's market will not last forever. While we aren't thinking of buying until after school is over, we do want to take advantage of the market before it starts to readjust to national averages.
Be forewarned about using a standard woodburning fireplace as a heat source. Fireplaces burn by drawing air from the house (that you've spent money to heat with your furnace) across the logs and up the chimney. They produce a lot of radiant heat in the immediate area when burning strongly will actually make the rest of your house colder--especially as they die down to the point that they're not putting out much heat but not yet cold enough to close the flue damper.
I'll try to keep this short:
(1) two FT students and a mortgage and 2 car loans--are you nuts?
(2) the average divorce is actually cheaper than the average wedding, and the amount you spend on the nuptials has no bearing on that likelihood. The necessary ingredients for a memorable wedding are all about the people--right people, right place, right time. If you're going to splurge on anything, splurge on the setting. Everyone will remember where you got married, but no one will remember which cocktail napkins you picked.
Your personal grooming stuff is small potatoes. The problem is you're trying to live a lifestyle that's ahead of your life progress. Adjust that "vision thing" of what you need/deserve to be happy right now.
And...more time cooking quality food, less time reading finance blogs :-)
Folks, I apologize for noting the post numbers--I realized after my posts were published that the numerical sequence was different (so posts 23 and 26, for example, were directed at Guests, NOT Beth). Beth I do apologize for seemingly calling you out--not intended at all!!!
What I was attempting to address was the somewhat cold-hearted nature of the posts that pulled out the "Welfare Queen" cliche (and thanks to the poster who cited that as a Reagan quote--I should have figured as much, since my "Reagan-Republican" colleagues are the ones who I've heard use that term the most) as evidence that all entitlement programs are being abused. I hope I managed to soften it somewhat by saying that we could all be in that boat at some point (and some of us HAVE, from this thread), so maybe we shouldn't heap scorn. Words have a funny way of coming back to you, one way or another.
Again, my apologies for misidentifying the post numbers.
Breakfast time--look, humble pie AND crow! Mmm, mmm good :)
Eating out and grooming are my 2 financial leeches.
When I read your bit on food, I felt like they were my words - I am self employed, have a 9 year old son who lives with me half the week and am juggling a busy schedule with home life, trying to get some balance.
I have had even more reason to cut back recently, I just split with my girlfriend, so my house has gone from 2 incomes to one.
Eating out and grooming are my 2 financial leeches.
When I read your bit on food, I felt like they were my words - I am self employed, have a 9 year old son who lives with me half the week and am juggling a busy schedule with home life, trying to get some balance.
I have had even more reason to cut back recently, I just split with my girlfriend, so my house has gone from 2 incomes to one.
I live in the SF Bay Area. I earn over $80k, have zero debt, a healthy 401(k), a healthy-ish Roth IRA and a healthy savings account. I cannot afford to buy a house. Not even a shitty one.
Granted, "cannot" is relative. I could raid my retirement savings and come up with $100k for a down payment, but even so, the mortgage calculators I've played with still say that if I want to put 20% down, the most I could afford would be a $350k property. That might buy me a studio condo or tenancy in common in a less than desirable neighborhood with a $2,500 mortgage payment, but in the process I'd be giving up the security I currently have. If I lost my job tomorrow I'd be able to go a year at my current burn rate before I had to start worrying. If I wiped out my savings and took on $2,500 mortgage payments I could kiss that security goodbye.
Some might say I should give up on the idea of a 20% down payment, but the idea of that much debt just seems ludicrous to me. The amount of stress that would put me under on a day to day basis would not be worth it. As much as I want a piece of dirt to call my own, to do with what I will, I'd rather sleep well at night.
I realize not every area has this expensive of a housing market; I am often blown away by the low prices in other areas. But are they really so low that a newly married couple, both still in grad school with student, auto AND consumer debt can really afford to take on a mortgage too? Perhaps the rent-vs-buy debate plays out so differently in cheaper areas that that actually makes sense.
Oh, I hate to admit this, but cleaning the house will warm you up in no time! I'm the only one in my house that feels the cold, but mopping the kitchen floor, sweeping the living room, or scrubbing a bath tub has me peeling off one or two of my three or four layers of clothes.
On nights I don't clean, I am in that bath tub, with a stack of books, magazines and notebooks for a few hours. A hot bath at 7 can keep me warm until I crawl under my electric blanket, which I only use to preheat the bed.
And I certainly don't think you're a wimp, but I live in San Diego, so my opinion probably doesn't hold much weight:)
I have no animosity towards those who seem less deserve, nor do I presume to judge who is deserving. Some people, whether deserving or not, will always appear undeserving. I'm willing to support those that might be undeserving to help those that truly need assistance. I clearly state that I support continued government assistance and encourage everyone to voice their opinion. Can the programs be improved upon - certainly. But that hold true for most things.
I read your article and thought 'boarders don't really count as being part of the household' but then I realized they did. I am a one-person household in that I am totally responsible for all my expenses and living costs, and I do have a completely self-contained apartment with my own living space etc. But I do benefit from having this apartment as a portion of someone's home (i.e. I am a boarder) in numerous ways. For example, we have a barter arrangement where she shares the laundry, cable and internet with me in exchange for my tutoring her son once a week. And there have been times where I bring her some cake from a part I had, or she brings me fruit from going fruit-picking with her son. Also, she has a car and I do not and there have been times she will offer to take me shopping for something in her car. Meanwhile, my rent helps her afford the house, she is happy with the tutoring arrangement, and she cuts me a break on the rent because I give her the peace of mind of being a tidy, reliable tenant. So we do benefit from each other's presence in the same house even if my life and household is very separate from hers.
I wanted to clarify from comment #37, we are a military family, but with the state militia - the National Guard. We only have health insurance during deployment. We had problems with Tricare in terms of finding providers who would accept it. Even those who did weren't that happy about it. But we weren't perceived as leeches, though Tricare is gov't provided too.
This sounds really minor, but you'd be surprised what a difference it makes: Granny house shoes, the kind that are like little fuzzy boots. I have found that when my ankles and shoulders are warm, the rest of me is a whole lot more comfortable. I keep my heat set at 64, wear a sweater and those house shoes, and I'm fine. (Other people complain that it's freezing in my house, but they're not wearing my house shoes)
Right on!!! I live in Maine, a state in which 25% of the population is on some sort of government assistance and where only 25% of adults have a high school education or higher (compared with a national average of 80%). I am so tired of seeing young mothers walking around with their illegitimate children all day long, with no jobs, feeding off the government. We have become a country of entitlement. No one want to take responsibility for anything they do anymore.
I grew up in a military family where we and all other families were assisted with just about everything (housing, medical, moving allowances). My mother often resisted these allowances so that we could have better than bottom of the barrel housing, air flights, etc.
My son was born right when both my husband and I were out of work! ( Dotcom crash era). We used WIC and I used Medi-Cal for our second child since no one would quote us insurance under $600 a month.
And I've never felt bad as an instructor, taking unemployment for the few times classes were canceled for a semester. To me, those little patches were my unofficial NEA grants.
Thanks y'all -- and hope this helps your friend Myscha. Thinkertoys discusses assumption-questioning and that is a big part of the Odyssey of the Mind process; it is interesting to see those ideas applied to real-life situations and how some ideas that we take for granted now were innovative at the time.
My left over balances get put other debts or next month's budget. For example; if I overspent by $10 on Entertainment, then I knock $10 off my Clothes budget to balance things out and make sure I'm not getting a free ride. If I have a good month and have $20 left over in my Clothes budget which doesn't go towards another expense, I leave it in my budget so next month I have $20 more to spend!
This way, if I overspend I punish myself and the money is coming from somewhere. If I underspend I can enjoy the money more next month!
Thanks!
This collection provides many opportunities for teachers, history buffs, and the simply curious. Another small step forward.
Thanks!
This collection provides many opportunities for teachers, history buffs, and the simply curious. Another small step forward.
Thanks!
This collection provides many opportunities for teachers, history buffs, and the simply curious. Another small step forward.
My worst habit is that I fly out of the house in the morning without getting breakfast- and end up buying a bagel and coffee more frequently than I'd care to admit.
I can get my act together to pack lunches- somehow I think each morning will magically allow time for me to eat at home before my bus to work each day.
ALso- to ANthony Marrone- I live in Syracuse. The market for housing is way inexpensive- but the issue is- where are the jobs? If you work at all, you can afford a great house here. However, sometimes when people come from out of state, they end up having to buy McMansions to avoid too much tax burden from the sale of the prior home. Then the taxes and upkeep of the huge house become killer--- I have seen this happen way too many times.
She logged on to read your piece while we were on the phone and we brainstormed for a while. She says thank you for giving her some strategies on a day she thought she had none.
You clearly scored a diverse collection of concise articles for a great price.
But what's the quality?
Thanks for the tip.
We haven't done car payments as a couple. Ever. That being said, I can certainly see where life circumstances might force us into that if everything came crashing down at once.
Even without the car loans though, I hear you on the additional costs. We do the remote car starter thing too, when the temperature dips below a certain number at night. Because we are now writing and studying at home, our monthly gas budget has decreased some, as has our insurance since our mileage on both vehicles is now minimal.
Again though, it's still freaking expensive. Partly because we live so far from things. Part of the tradeoff we made for affordable lakefront property, but some days it's hard to remember that when the gas costs here are so far above what everyone else in the country is paying. Ditto with groceries and such.
Since I haven't had my coffee yet, I realize I've likely reached the point of rambling. I'd be interested in anyone else's take on vehicle expenses.
I would have never thought that you could fit a whole chicken in a bike's saddle bag — when I biked to school, I relied on mine for my books and what not, but they never seemed that big. Congrats on fitting the chicken, struggle though it may have been. :)
We live in Upstate New York; the housing market in this area is a far cry from that in the SF bay area. My law school buddy from SF marvels when I tell him you can buy a really nice 2,500 sq. ft. house for under $150,000 easily in some of the best neighborhoods.
That being said, prices in my area are on the rise, assuring that this buyer's market will not last forever. While we aren't thinking of buying until after school is over, we do want to take advantage of the market before it starts to readjust to national averages.
Be forewarned about using a standard woodburning fireplace as a heat source. Fireplaces burn by drawing air from the house (that you've spent money to heat with your furnace) across the logs and up the chimney. They produce a lot of radiant heat in the immediate area when burning strongly will actually make the rest of your house colder--especially as they die down to the point that they're not putting out much heat but not yet cold enough to close the flue damper.
I'll try to keep this short:
(1) two FT students and a mortgage and 2 car loans--are you nuts?
(2) the average divorce is actually cheaper than the average wedding, and the amount you spend on the nuptials has no bearing on that likelihood. The necessary ingredients for a memorable wedding are all about the people--right people, right place, right time. If you're going to splurge on anything, splurge on the setting. Everyone will remember where you got married, but no one will remember which cocktail napkins you picked.
Your personal grooming stuff is small potatoes. The problem is you're trying to live a lifestyle that's ahead of your life progress. Adjust that "vision thing" of what you need/deserve to be happy right now.
And...more time cooking quality food, less time reading finance blogs :-)
Folks, I apologize for noting the post numbers--I realized after my posts were published that the numerical sequence was different (so posts 23 and 26, for example, were directed at Guests, NOT Beth). Beth I do apologize for seemingly calling you out--not intended at all!!!
What I was attempting to address was the somewhat cold-hearted nature of the posts that pulled out the "Welfare Queen" cliche (and thanks to the poster who cited that as a Reagan quote--I should have figured as much, since my "Reagan-Republican" colleagues are the ones who I've heard use that term the most) as evidence that all entitlement programs are being abused. I hope I managed to soften it somewhat by saying that we could all be in that boat at some point (and some of us HAVE, from this thread), so maybe we shouldn't heap scorn. Words have a funny way of coming back to you, one way or another.
Again, my apologies for misidentifying the post numbers.
Breakfast time--look, humble pie AND crow! Mmm, mmm good :)
Eating out and grooming are my 2 financial leeches.
When I read your bit on food, I felt like they were my words - I am self employed, have a 9 year old son who lives with me half the week and am juggling a busy schedule with home life, trying to get some balance.
I have had even more reason to cut back recently, I just split with my girlfriend, so my house has gone from 2 incomes to one.
You got any tips for single life living?
Thanks, and love your blog.
Eating out and grooming are my 2 financial leeches.
When I read your bit on food, I felt like they were my words - I am self employed, have a 9 year old son who lives with me half the week and am juggling a busy schedule with home life, trying to get some balance.
I have had even more reason to cut back recently, I just split with my girlfriend, so my house has gone from 2 incomes to one.
You got any tips for single life living?
Thanks, and love your blog.
Might I ask where you live?
I live in the SF Bay Area. I earn over $80k, have zero debt, a healthy 401(k), a healthy-ish Roth IRA and a healthy savings account. I cannot afford to buy a house. Not even a shitty one.
Granted, "cannot" is relative. I could raid my retirement savings and come up with $100k for a down payment, but even so, the mortgage calculators I've played with still say that if I want to put 20% down, the most I could afford would be a $350k property. That might buy me a studio condo or tenancy in common in a less than desirable neighborhood with a $2,500 mortgage payment, but in the process I'd be giving up the security I currently have. If I lost my job tomorrow I'd be able to go a year at my current burn rate before I had to start worrying. If I wiped out my savings and took on $2,500 mortgage payments I could kiss that security goodbye.
Some might say I should give up on the idea of a 20% down payment, but the idea of that much debt just seems ludicrous to me. The amount of stress that would put me under on a day to day basis would not be worth it. As much as I want a piece of dirt to call my own, to do with what I will, I'd rather sleep well at night.
I realize not every area has this expensive of a housing market; I am often blown away by the low prices in other areas. But are they really so low that a newly married couple, both still in grad school with student, auto AND consumer debt can really afford to take on a mortgage too? Perhaps the rent-vs-buy debate plays out so differently in cheaper areas that that actually makes sense.
Oh, I hate to admit this, but cleaning the house will warm you up in no time! I'm the only one in my house that feels the cold, but mopping the kitchen floor, sweeping the living room, or scrubbing a bath tub has me peeling off one or two of my three or four layers of clothes.
On nights I don't clean, I am in that bath tub, with a stack of books, magazines and notebooks for a few hours. A hot bath at 7 can keep me warm until I crawl under my electric blanket, which I only use to preheat the bed.
And I certainly don't think you're a wimp, but I live in San Diego, so my opinion probably doesn't hold much weight:)
@Bigred
I have no animosity towards those who seem less deserve, nor do I presume to judge who is deserving. Some people, whether deserving or not, will always appear undeserving. I'm willing to support those that might be undeserving to help those that truly need assistance. I clearly state that I support continued government assistance and encourage everyone to voice their opinion. Can the programs be improved upon - certainly. But that hold true for most things.
I read your article and thought 'boarders don't really count as being part of the household' but then I realized they did. I am a one-person household in that I am totally responsible for all my expenses and living costs, and I do have a completely self-contained apartment with my own living space etc. But I do benefit from having this apartment as a portion of someone's home (i.e. I am a boarder) in numerous ways. For example, we have a barter arrangement where she shares the laundry, cable and internet with me in exchange for my tutoring her son once a week. And there have been times where I bring her some cake from a part I had, or she brings me fruit from going fruit-picking with her son. Also, she has a car and I do not and there have been times she will offer to take me shopping for something in her car. Meanwhile, my rent helps her afford the house, she is happy with the tutoring arrangement, and she cuts me a break on the rent because I give her the peace of mind of being a tidy, reliable tenant. So we do benefit from each other's presence in the same house even if my life and household is very separate from hers.
I wanted to clarify from comment #37, we are a military family, but with the state militia - the National Guard. We only have health insurance during deployment. We had problems with Tricare in terms of finding providers who would accept it. Even those who did weren't that happy about it. But we weren't perceived as leeches, though Tricare is gov't provided too.
This sounds really minor, but you'd be surprised what a difference it makes: Granny house shoes, the kind that are like little fuzzy boots. I have found that when my ankles and shoulders are warm, the rest of me is a whole lot more comfortable. I keep my heat set at 64, wear a sweater and those house shoes, and I'm fine. (Other people complain that it's freezing in my house, but they're not wearing my house shoes)
Right on!!! I live in Maine, a state in which 25% of the population is on some sort of government assistance and where only 25% of adults have a high school education or higher (compared with a national average of 80%). I am so tired of seeing young mothers walking around with their illegitimate children all day long, with no jobs, feeding off the government. We have become a country of entitlement. No one want to take responsibility for anything they do anymore.
I grew up in a military family where we and all other families were assisted with just about everything (housing, medical, moving allowances). My mother often resisted these allowances so that we could have better than bottom of the barrel housing, air flights, etc.
My son was born right when both my husband and I were out of work! ( Dotcom crash era). We used WIC and I used Medi-Cal for our second child since no one would quote us insurance under $600 a month.
And I've never felt bad as an instructor, taking unemployment for the few times classes were canceled for a semester. To me, those little patches were my unofficial NEA grants.
Margaret Garcia-Couoh
Thanks y'all -- and hope this helps your friend Myscha. Thinkertoys discusses assumption-questioning and that is a big part of the Odyssey of the Mind process; it is interesting to see those ideas applied to real-life situations and how some ideas that we take for granted now were innovative at the time.
My left over balances get put other debts or next month's budget. For example; if I overspent by $10 on Entertainment, then I knock $10 off my Clothes budget to balance things out and make sure I'm not getting a free ride. If I have a good month and have $20 left over in my Clothes budget which doesn't go towards another expense, I leave it in my budget so next month I have $20 more to spend!
This way, if I overspend I punish myself and the money is coming from somewhere. If I underspend I can enjoy the money more next month!
lol
You certainly know how to make an appearance. Any chance of sharing those recipes in the future on wisebread?