Get a roommate

Anonymous wrote:A written out google sheets or other tool budget. It’s like going on a diet, unless you write down everything you eat and can see it on (digital) paper, you won’t know where your money is going. 200/mo for cable/internet is steep - do you need to have cable? Could you get just internet for 50-60/ mo then tack on Netflix or something. That would cut that cost in half

+100. We pay $55 for internet only (Fios), and then Netflix (most basic plan, like $12/month). And we already have a Prime membership so we also have access to Prime video. I find that's enough for us (family of 4, 2 kids)

We limit the frequency of takeout and always pick it up ourselves. I would never pay for DoorDash or UberEats. If I won’t go get it, I obviously don’t want it that badly.

We also don’t pay for cable at all and share streaming with family. We also use Xfinity for cell phones and share 3G of data for $30/month. We don’t use data much and try to stick just to Wifi. We keep our phones until the literally don’t work any more. We replace the battery as needed to extend the life of the phone. The cell phone bills some families are paying seem insane to me. I know families that have $300-400/month bills between unlimited data for every family member and phone payments for new phones every year or two.

Anonymous wrote:

Anonymous wrote:That's great you're saving a few bucks here and there on petty things, but try looking at the bigger picture - cell phone bill, car payments, insurance bills (shop around for cheaper rates), etc.

Are you a rente or homeowner?

Homeowner. And good idea to shop around for lower rates. I may start with my cable/internet bill, which is currently $200 a month.

Interest rates are too high to refinance right now, but definitely shop around (don't forget credit unions) when things hopefully level out.

A written out google sheets or other tool budget. It’s like going on a diet, unless you write down everything you eat and can see it on (digital) paper, you won’t know where your money is going. 200/mo for cable/internet is steep - do you need to have cable? Could you get just internet for 50-60/ mo then tack on Netflix or something. That would cut that cost in half

OP, the best way to do this is to download an app like Personal Capital. It literally tracks all of your expenses in real time and to the penny and categorizes them, so you can see with the click of a button exactly what you're spending. You can also assign yourself a budget (whether you need one or not). It also tracks your net worth, so you can see how you're progressing.

Anonymous wrote:For our family, eating out was the big "hidden" expense. It's just so convenient to pull up Door Dash and order what everyone wants, but then I have to stop and think about how that quick delivery from Noodles and Company of lunch for a family of 5 ended up being a hundred bucks.

yes, there are a lot of hidden fees at Door Dash/Uber Eats etc. delivery charge + service charge + tipping. Once I realized how much it adds (I'd say 20%), I started just calling and doing takeout. Less convenient, but if you stick to restaurants relatively close to you, it will be cheaper.

For our family, eating out was the big "hidden" expense. It's just so convenient to pull up Door Dash and order what everyone wants, but then I have to stop and think about how that quick delivery from Noodles and Company of lunch for a family of 5 ended up being a hundred bucks.

Anonymous wrote:That's great you're saving a few bucks here and there on petty things, but try looking at the bigger picture - cell phone bill, car payments, insurance bills (shop around for cheaper rates), etc.

Are you a rente or homeowner?

Homeowner. And good idea to shop around for lower rates. I may start with my cable/internet bill, which is currently $200 a month.

Starbucks?
Eating out, coffee outside are money drainers,

I only buy a new clothing item if I am replacing, and if it looks better than anything else I have in my closet. That helped me stop buying clothing items even if it was a really good deal. It doesn’t matter if it’s 50% off if it doesn’t look amazing. I also ask if I would buy it at full price, if the answer is no, I don’t buy it.

What about walking or cycling whenever possible instead of driving? Esp with gas prices.

That's great you're saving a few bucks here and there on petty things, but try looking at the bigger picture - cell phone bill, car payments, insurance bills (shop around for cheaper rates), etc.

Are you a rente or homeowner?

Anonymous wrote:All of these sound less fun and more work than just earning a few hundred extra each month. I earn about an extra $2500 / year by doing website testing, product testing and focus groups. I'd say I do this about 3-5 hours per month for fun. I think most people could find extra income somewhere if they put in a little effort.

Interesting perspective. Should the goal be to find improved ways to earn money or to be more resourceful with what you already have? Being conscious of where your resources are going feels more responsible.

All of these sound less fun and more work than just earning a few hundred extra each month. I earn about an extra $2500 / year by doing website testing, product testing and focus groups. I'd say I do this about 3-5 hours per month for fun. I think most people could find extra income somewhere if they put in a little effort.

The best way is just to go through your credit card/bank statements line by line and see where you are spending and what could be cut. You can also do a deep dive into your grocery and other shopping receipts.
If you are spending enough on paper towels per month that its worth reusing them 2-3 times, you might want to cut up some old t-shirts into rags and use those instead.

How are you cutting back on costs? I have a solid income/job and a decent savings. However, I am single and have no one to fall back on should times become more challenging. I am becoming more recession conscious by implementing the following:

Eating out less;
Delaying purchases completely or comparison shopping for bargains;
Discontinuing dry cleaning and handwashing or gentle-cycling my clothes in the washing machine;
Raising the thermometer;
Delaying travel;
I got invited to two parties back-to-back weekends at the end of June. Both are on the other side of town so to conserve gas and gift purchases, I only committed to attend one event;
I drive to work because Metro is unclean/unsafe. To cut costs, I increased my tw days to prevent excess expense for parking/gas. I am also shopping around for cheaper garages.
I am shopping generic brands more when possible;
I am using every last drop of products (e.g., squeezing out toothpaste, bodywash etc.)
I am reusing paper towels. Most can last two or three times before needing to be trashed.

What are other ideas?