Saving $5000 by Jan 15 2011

[nick__45]

I like to be able to save $5000 by January 15, 2011. Currently, I can save about $1000-1500 a month but I think I should strive for me. For 2.5 months and the goal of $5k would means $1000 every paycheck. This will be tough and will take some creativity because he had a several big CC bills coming up from last statement car repairs as well as school fee. But from Nov 15 to Jan 15, there should be no excuse for not being able to save.

[nick__45]

That 4 bucks frappe was a need item this morning. Of course, I charged it because it is actually cheaper that way. I think it cost $3.69 and will be $3.69 minus a few cents I get in cash back. Had I use cash, it will be at least 4 dollars because I would get a bunch of coins back that will not be account for and accumulate in the car. Heaven forbid if I have to break a $20 bill, then we are talking about opportunity to use the rest of it since all of extra $1 and $5 will be burning a hole in my pocket screaming "spend us, spend us, spend us BIG MAN." For small items, I have more discipline with CC.

[jpg7n16]

Originally Posted by nick__45

That 4 bucks frappe was a need item this morning.

... For small items, I have more discipline with CC.

If you're truly claiming more discipline, and truly trying to save as much as possible, then it would be a good place to start at defining wants and needs.

McDonalds has coffee for $1. You can buy coffee in bulk and make for yourself at home much cheaper.

And even still - caffeine is a want. People all over the globe survive without coffee - and def survive without $4 frappes.

How honest will you be with yourself on which spending is truly a need or just a want?



If you absolutely think you NEED coffee, maybe you should go without any for your experiment. By the time 3 months passes, you'll be free of your caffeine addiction.

[nick__45]

I think that was my first frappe in 4 months and I really needed that to wake up this morning. I don't drink coffee but do have a coffee maker at home because I thought I would drink coffee. I used it a few times and still have some filter left over. Normally, we share a smoothie once or twice a month but don't really think about it. My situation is strange because I am not wasteful per say but I am not exactly thrifty either by non-American standard. We do share a same drink when going out to eat at buffet so that 1.99 or 2.99 soda is good for 2 people and since refill is free, I don't see a reason to buy 2. Well, the baby share that same soda too so it's one soda for 2.25 people. And fast food places are only visit with mad coupons. We look at price of things and buy when they are cheap but we are not going to starve. We tried that a few years ago, it makes outing less enjoyable.

[nick__45]

Time to eat my lunch, packed from home filled with delicious ingredient and only cost 3 dollars to make versus an 10 dollars of getting something equivalent at the restaurant.

[jpg7n16]

Originally Posted by nick__45

I think that was my first frappe in 4 months and I really needed that to wake up this morning.

wanted it to have extra pep - didn't need it to wake up, or you'd still be asleep

I guarantee you would have been fine without it. (or if you still disagree, why didn't you choose the $1 black coffee?)

And fast food places are only visit with mad coupons. We look at price of things and buy when they are cheap but we are not going to starve. We tried that a few years ago, it makes outing less enjoyable.

You should also cut out eating out to save the most. $2.99 can buy a couple 2 liters on sale - and I doubt your 2.25 people drink more than 4 liters at one sitting.

Plus, water is free at all buffets. So why didn't you order 3 waters?


I think you've got a lot of "I'm saving a little here, so it's a good decision" thoughts as justification of your spending habits. On further review, these things aren't actually that good of a deal for you.

Your mind is tricking you.

[jpg7n16]

Originally Posted by nick__45

Time to eat my lunch, packed from home filled with delicious ingredient and only cost 3 dollars to make versus an 10 dollars of getting something equivalent at the restaurant.

Now that's a very good decision

[nick__45]

Originally Posted by jpg7n16

wanted it to have extra pep - didn't need it to wake up, or you'd still be asleep

I guarantee you would have been fine without it. (or if you still disagree, why didn't you choose the $1 black coffee?)



You should also cut out eating out to save the most. $2.99 can buy a couple 2 liters on sale - and I doubt your 2.25 people drink more than 4 liters at one sitting.

Plus, water is free at all buffets. So why didn't you order 3 waters?


I think you've got a lot of "I'm saving a little here, so it's a good decision" thoughts as justification of your spending habits. On further review, these things aren't actually that good of a deal for you.

Your mind is tricking you.

You're smart. Thanks for the advice.

But I am actually not falling asleep today at work like usual. But since I don't work for myself, going half bake or full throttle gained me the same income. Maybe I should ask for more challenging tasks.

[disneysteve]

Originally Posted by nick__45

I really needed that to wake up this morning.

No you didnt.

We do share a same drink when going out to eat at buffet so that 1.99 or 2.99 soda is good for 2 people and since refill is free, I don't see a reason to buy 2. Well, the baby share that same soda too

Water is free which beats $1.99 or $2.99 every time. And I don't know how old the baby is but at any age he doesn't need to be drinking soda.

Originally Posted by nick__45

Time to eat my lunch, packed from home filled with delicious ingredient and only cost 3 dollars to make versus an 10 dollars of getting something equivalent at the restaurant.

That's a good start but you should be able to pack a good lunch for even less than that. Heck, I can buy lunch for less than $3.00.

[tulog]

Agree, water is the best drink.

I sense diabetes in that baby's future.

[nick__45]

I am a very picky eater. My lunch was a nice omelet packed with veggie, ham, cheese. I ate it with good bread for one portion, rice on the next. And that is part of my issue. I make sure I get good price on things but I want the good stuffs. I don't buy into organic fad but I don't eat hot dogs either.

I do eat a lot though so it probably only cost $1.5 if the portion was for an average person. I care more about my healthy diet more than the instant saving from junk food. If I want something tasty and cheap, I could eat 3 Ramen noodles bag and 5 eggs for lunch. But I can't fry the eggs or boil water at work. I do that at home sometime though and that usually run about 1.25 for a fat mean that should last me until 9 p.m.

Here is my typical eating out. We go to CiCi pizza where it costs $5.99 for all you can eat pizza. I get one soda for 1.29 but upgrade to a to-go big cup for another 50 cents. The tax is about 9.5 percent where this CiCi is. We would sit there talk and eat for about 2-3 hrs. Then I refill that big cup and hit the bookstore or the mall, whichever one we didn't go yet. Since we both work and work a lot, it is better than driving home 3 miles away, spend 2-3 hrs to prepare meal and be dead tire by the time we finish eating. I work on Saturday too, from 7-130 so the day is already cut by half.

I do prefer the coupon option from a fancy restaurant for buy one get one free (no drink needed) and just get water. However, there is the 15-20 tips involved on top of the 9.5 tax. So for a 10 dollar entry we have to pay for, we have about 6 dollars of added fee in tax and tip. Tax is still there for the free dish. So it's 12 dollars for the food and tax and an additional 4 dollars for tip. But it saves us an evening and we are really busy all the time. Like super busy with a baby and jobs and school, and just life.

But I do pack lunch almost every day or just not eat when we don't have left over. Normally, my lunch is separately prepared instead of left over because our dinner can't be repackaged for carry-on.

[nick__45]

Originally Posted by tulog

Agree, water is the best drink.

I sense diabetes in that baby's future.

Don't say things like that.

[Tree0164]

Nick we will be cheering you on!

Being prepared to have your coffee made at home! Treat yourself to a nice portable coffee mug will make the experience better. I need my caffiene in the morning but I do it myself!!

Do some meal planning it is much cheaper than going out! We use a crockpot alot when we know life is going to be crazy. You can do some simple recipes or go all out. Plus there are probably some leftovers for the next day for lunch!

Good luck!

[briandownie]

Would you really feel bad if you only saved $4900? Buy a coffee for heaven sake. LOL

[nick__45]

Originally Posted by jpg7n16

wanted it to have extra pep - didn't need it to wake up, or you'd still be asleep

I guarantee you would have been fine without it. (or if you still disagree, why didn't you choose the $1 black coffee?)



You should also cut out eating out to save the most. $2.99 can buy a couple 2 liters on sale - and I doubt your 2.25 people drink more than 4 liters at one sitting.

Plus, water is free at all buffets. So why didn't you order 3 waters?


I think you've got a lot of "I'm saving a little here, so it's a good decision" thoughts as justification of your spending habits. On further review, these things aren't actually that good of a deal for you.

Your mind is tricking you.

I can't drink black coffee straight. The only ways I could take in caffeine is via soda or frappe/fruity drinks. I prefer the one my wife makes but that takes about 40 mins and I have to be out of the house rather early and she is out even earlier. That was a much needed item because I would fall asleep at work without it. I have sleeping disorder. I haven't had one since the thread was started. Normally, I just wash my face or drink soda but frappe is more convenient and less time consuming and healthier as it normally takes 3 sodas to do the same thing as one frappe.

I haven't and never buy bottle water through vending machine. That's just plain dumb. I bring water from home, filtered and boiled. I am good at distinguishing between needs and wants. If I buy something food related, chances are I really need it. I skip eating out of lunch when I don't bring left over often so I know if I go out for lunch, it is a need as I need energy to do work. Yesterday and today, I didn't bring lunch because there is no left over. Unlike most household, we rarely have left over because we need everything we cook and don't waste food.

I agree with Disney Steve, it is easier to keep track and manage money with CC. If I have cash, it drive me crazy because I would spend all day figuring out where I spent the last 20-60 dollars. For big items $100+ CC makes purchases easier and that is where cash is king as far of control. However, I don't buy $100+ because I want it, I don't even buy it even when I need it.

[Homebody]

Originally Posted by nick__45

Don't say things like that.

Really that was totally uncalled for.

Ivany89; Go cash only!

[jpg7n16]

Originally Posted by ivany89

You are very lucky to be able to save that much. I can't afford it. Is there anyway you guys can give me a tip to stop handing over the plastic?

Cut up the cards (use scissors).

It's very hard to run the plastic through the machines when it's in a bunch of tiny little pieces.

[nick__45]

Just checked my account, the balance is actually a little over $5000 more today than it was on Oct 15. However, there is a $1250 auto-deduction tomorrow to pay CC and mortgage notes/bills. I only count my SA as a anchor of financial saving, everything else is cash flow or retirement that matter little now and won't be touchable until retirement.

[ThePennyHoarder]

I'm crossing my fingers for you. I've always liked the concept of "No-Spend Days." My partner and I try to do that once or twice a week where we see if we can go the whole day without spending any money. It takes a bit of planning and creativity, but it helps...

[MaxPowers]

I enjoy the challenge of finding cheap good meals. I am single, so it is easy.
Currently for breakfast I eat eggo waffles, toaster strudels, or cereal. Most of the time, I don't eat breakfast. So the cost of my breakfast when I eat it is less than 50c.
Lunch is either skipped or some kind of canned soup or healthy choice meal. $1-$2.50
Dinner has been the healthy choice meals or something similar. They are only $2.50, are delicious, and the portions are just right. I used to eat skillet meals, or some of these other 2-3 portion meals. They were not only more expensive, but I found I was eating the whole thing, which isn't good.
So I spend like $6 on food a day. I try to keep the eating out, or getting takeout to once a week so I don't blow my budget.