Happy New Year everyone! I’m sure hoping 2016 turnaround for the better because the first couple weeks weren’t all that great.
As stated in a prior post, time for some numbers:
Income (after taxes): $4,463.90
Household expenses (gas, heat, electric, assessment): $260.41
Internet: $63.45
Car insurance: $63.05
Car fuel: $35.00 (expected)
Groceries: $400 (expected for two of us)
Misc. supplies (shampoo, soap, etc.): $120 (expected for two of us)
Savings: $1,090.00
Furniture fund: $250 ($1,000 more to go and I’m done with this, and the $250 will go right into savings.)
Travel fund: $250 ($500 more to go-not sure when I’ll travel but it will be there if I need it.)
Misc. spending (mainly going out to eat, occasional movie, clothing, doggie maintenance and supplies, etc.): $959.99
Extra one-time expenses this month came to: $1,007.00
So from this, it’s easy to tell what this month’s issues were:
1. Too much misc. spending
2. One-time purchases for my real estate business
3. Grocery cost is too high by $100-$150/per month (My husband and I talked about this and have come up with ways to reduce the grocery bill.)
I just finished up Jacob’s book this evening and must say I did enjoy much of it. I even got a few smiles out of it, particularly the CouchPotato 500 model. There is a lot of truth in that book, and it made me realize that really I’m the problem that I still have to have a JOB. I have to get serious about this.
Now one of the things I struggle with is should I continue working at my current place of employment for 13 more years. The reason for this is I will have a pension very close to my current salary. If SS is no longer around, this would be a nice crutch. Of course, we have no idea how the world is going to turn out, and if cash or anything else will be around the time I “retire”, unless it’s soon. My work is very stressful, and it also has a lot of odd hours that cut into my life, and since I’m salaried, I don’t have much of an option. I could go somewhere else, but I would lose the pension and I’m guessing most workplaces are pretty much the same, at least what I’m hearing from most people.
When my husband graduates from university in two years, that will add to our income, of course, and free up a lot of my money currently going to fund him. He has really been making some excellent dishes for dinner!
I am still amazed that when I get into a discussiom with someone, they say there is no way I can retire until I have at least $1M in the bank, and no one will get that, they say. Have we really been trained to think that this is it? That the salaried job is the lifetime aspiration? That we must work until we are 65, 67, or higher, and so sick from the stress? Do people really believe that there is no other option or are they just lazy? I’m not sure. I find though that the more I keep to myself, the better off I am. The “I’m going to work until I die” line has gotten old. There’s hardly any employer that is going to let someone do that.
Okay, that’s enough complaining for now.
My next task is to figure out my FI number.
Hope everyone’s year is off to a good start. (Probably not if you are in the stock market.)
inchicago's journal
Re: inchicago's journal
I forgot to include my current savings right now in the last posting:
home (paid off): $85,000
lending club account: $3,033.63
gold/silver: $7,000
cash (doesn't include my travel or furniture fund since that will be eventually spent): $2,712.46
401K: $79,209.36 (Fell from a high of about $93,000 a couple of months ago/I stopped contributing to this back in November 2015. I'm pretty much done with 401Ks.)
annuity: $2,500
Total: $91,742.99 (without house) and $176,742.99 (with house)
home (paid off): $85,000
lending club account: $3,033.63
gold/silver: $7,000
cash (doesn't include my travel or furniture fund since that will be eventually spent): $2,712.46
401K: $79,209.36 (Fell from a high of about $93,000 a couple of months ago/I stopped contributing to this back in November 2015. I'm pretty much done with 401Ks.)
annuity: $2,500
Total: $91,742.99 (without house) and $176,742.99 (with house)
Re: inchicago's journal
I found a handy little calculator at http://dqydj.net/an-ideal-savings-rate- ... -planning/ to calculate FI. At a 65% savings rate, it will take me another 9 years, but if I up that to 70%, I am FI in 7.5 years and with 75% savings, I've achieved FI in just under 6 years. That's with a 6% interest rate. Sounds very doable.
When I actually wrote my numbers in the journal in the last post, it really hit home. Too much wasteful spending. Really, it comes out of boredom and laziness. Sometimes I even bring my lunch to work, but I'm just bored with the job, so I go out somewhere. Now that's dumb!
This weekend, being a 3-day weekend, I've really taken a look at my budget and how I can keep on track. Back when I made in the $30s, I was very cautious with money, because I had very little to spare, and I was also paying for housing, something I don't have to worry about now since there is no more mortgage. I just get stuck with about $2k of property taxes/per year (expected to go up this year from 2015). I also pay $159/per month is assessment since I live in a condo and that includes water.
One thing I've been doing since November is really studying real estate investing. I'd like to make some additional income to sock away for investing and just to have, to say I have it, just in case. The other thing I'd like to do is learn to grown vegetables and repair things, like plumbing, even though I have no problem clearing out a clogged pipe (as long as it above ground
).
I'm also going to focus on making different meals, particularly ones I would buy at a restaurant at lunch, such as sushi, curry, things like that.
I also need to exercise more. I really hate it. However, I realize I am very wimpy. That is not a good thing. Plus, I've gotten sick the last two years, and that means that my immune system needs some help. I used to never get sick. My guess is it's partly my job, but that can be all to blame.
Now that I'm putting my plan in place, I believe I really can make my goal of 5-7 years to be early retired, if that is what I choose, although I will probably work on the real estate business if I find that this is truly the right investment for me.
When I actually wrote my numbers in the journal in the last post, it really hit home. Too much wasteful spending. Really, it comes out of boredom and laziness. Sometimes I even bring my lunch to work, but I'm just bored with the job, so I go out somewhere. Now that's dumb!
This weekend, being a 3-day weekend, I've really taken a look at my budget and how I can keep on track. Back when I made in the $30s, I was very cautious with money, because I had very little to spare, and I was also paying for housing, something I don't have to worry about now since there is no more mortgage. I just get stuck with about $2k of property taxes/per year (expected to go up this year from 2015). I also pay $159/per month is assessment since I live in a condo and that includes water.
One thing I've been doing since November is really studying real estate investing. I'd like to make some additional income to sock away for investing and just to have, to say I have it, just in case. The other thing I'd like to do is learn to grown vegetables and repair things, like plumbing, even though I have no problem clearing out a clogged pipe (as long as it above ground
).I'm also going to focus on making different meals, particularly ones I would buy at a restaurant at lunch, such as sushi, curry, things like that.
I also need to exercise more. I really hate it. However, I realize I am very wimpy. That is not a good thing. Plus, I've gotten sick the last two years, and that means that my immune system needs some help. I used to never get sick. My guess is it's partly my job, but that can be all to blame.
Now that I'm putting my plan in place, I believe I really can make my goal of 5-7 years to be early retired, if that is what I choose, although I will probably work on the real estate business if I find that this is truly the right investment for me.
Re: inchicago's journal
Here’s what the expenses for January 2016 finished at:
Income (after taxes): $4,463.90
Household expenses (gas, heat, electric, assessment): $260.41
Internet: $63.45
Entertainment (Hulu, movies, theatre tickets, etc.): $75.05 (I tend not to ever spend much in this area as I have very little time to go out to movies and the theatre. I hardly ever use Hulu, either. I’m not really sure why I bother keeping it.)
Eating out: $477.51 (OUCH!!!!! I know I was bad on this one, since I was sick the first two weeks of January, but now I really see this is a problem. The last two weeks I’ve been sticking more to my plans for eating and making things myself. I also feel much healthier when I make my own things which consist of mainly fruits and vegetables. I even make my own candies.) My goal for February is to get this under $200. Maybe by a month or two I could even get it down to under $100. Now that would be a serious accomplishment!
Gifts: $66.75
Car insurance: $63.05 (The nice thing is my policy has me pay 4 months and then nothing for the next month so I won’t have this expense in March.)
Car fuel: $21.15 (didn’t go much of anywhere this month due to the weather)
Groceries: $312.18 (lower by about $80 this month!)
Misc. supplies (shampoo, soap, etc.): $155.63 (This was $35 higher this month due to the fact that I bought homemade soap from a small company for the next 6 months. It saves quite a bit on shipping costs to buy that much since it’s just a flat rate for shipping regardless of how much you buy.)
Doggie care: $162.21
Savings: $1,090.00 (due to the costs of starting up my real estate business)
Furniture fund: $250 ($1,000 more to go and I’m done with this, and the $250 will go right into savings.)
Travel fund: $250 ($500 more to go-not sure when I’ll travel but it will be there if I need it.)
Misc. spending (stuff-books, clothes, magazine subscriptions for 2016, charity):$256 (I bought 6 months’ worth of books on Amazon to keep up with the book club I’m in.)
Total living expenses: $1,843.73
Total business expenses: $447.00
Total savings: $1,090
Furniture/travel savings: $1,000
Carryover $ to emergency account: $83.17
I looked at my bills for the next month and saw that my Comcast bill was $30 more! So I call and the entire call takes a little over 48 minutes but the summary that call is as follows:
1. Billing department: Yes, we see you are being charged more because your one year promo ran out. I’ll transfer you to customer service so you can see if they have any promo offers for you.
2. Customer service: Yes, your one year promo rate expired. (Then comes the sales pitch.) No, I don’t watch TV, no time. No, I don’t want cable. No, I don’t want lighting fast Internet speed so I can download who knows what. I just want my $63 rate back with what I had before. If not, I really don’t plan on continuing with Comcast.
3. Verdict: Success! Got my $63 rate back with what I had before and no worthless cable channels. YES!
Real estate business goals:
1. Company name applied for
2. Lead web page for sellers completed
3. Completed several educational lessons online
4. Read wholesaling book
5. Went to wholesaling meeting
6. Looking at bidding on our first small property for a quick sale
Personal:
1. Read “The Autobiography of Mrs. Tom Thumb”. I’m in a book club. I joined so I could expand myself being the nonfiction business book. I’ve always felt fiction books were a waste of time so I thought I’d expand my mind a bit through joining a book club. I also read some travel magazines.
2. Set-up two financial reviews with FREE financial planners (courtesy of my work) for the month of January & February.
3. My husband and I went through the cabinets and starting finding recipes online to get rid of stuff. That has/saved me 1.5 weeks of grocery expenses.
4. Started lifting small weights and doing 15 minutes of stretching each evening. (Hopefully, I can get back to the work gym 2-3 times/per week.) My work has a free gym that can be used as it’s part of the hotel they rent to.
Big expenses for the month of February:
1. Dentist-estimate $125
2. 1st installment of property tax bill-$1,037
3. Silver-$500 (this completes the investing portion of silver in my plan)
Yikes moments:
1. I went out to lunch with co-workers a week ago and a half ago and yowsers! $23 for lunch! Okay, so glad I’m only doing this 1-2 times/per month. I can’t believe how much the prices have gone up where I work. (My work is in a more upscale area.)
2. Went to Starbucks one day last week while I was at work. $4.52 for a chai latte with soy milk! When did the price go so far up? Just a year or so ago it was still in the high $3 range. Glad I’ve been cutting out Starbucks. That’s ludicrous!
Future:
1. I’m still debating if it’s worth it to stay for 12.75 years at my job to get the full pension. That would be a nice cushion but it is going to be very difficult. Especially because I spent anywhere from 2-7 hours/per week on evening calls, which means I have no chance to make any plans during Monday-Thursday.
2. I might like to purchase some farmland to rent out. My father does this with some land he inherited and it brings in a decent, reliable income every month.
3. I’ll reassess things like annuities, etc., once I meet/review the two different financial planners’ recommendations.
4. I’m getting my eyes checked out. Nothing wrong with them but since eye insurance is part of my insurance, why not get the test done? This is the icky test where they put the drops in your eyes. I’ve only done that one other time in my life.
Thoughts:
1. The property taxes went up in Chicago (yet again). Illinois is so corrupt that it’s an embarrassment. I had a co-worker argue with me that it was important for the teachers. Okay, my argument was first, the money doesn’t go to the teachers, it goes to administration who keeps “borrowing” from their pension fund. Second, what about the guy who is going to lose his house since he can’t afford the extra $300+ a year to pay his property taxes? Is that fair? So again, just another example of robbing Peter to pay Paul.
2. Keeping this journal has really been opening my eyes to where my money goes. I think this will be a very good habit for me to get into, to post every month. Hopefully, I’ll continue to get better and better as time goes on. I am almost a little embarrassed at posting my spending numbers. I know they are higher because there are two of us, but still…hopefully, that will motivate me to do better since others are reading this.
Income (after taxes): $4,463.90
Household expenses (gas, heat, electric, assessment): $260.41
Internet: $63.45
Entertainment (Hulu, movies, theatre tickets, etc.): $75.05 (I tend not to ever spend much in this area as I have very little time to go out to movies and the theatre. I hardly ever use Hulu, either. I’m not really sure why I bother keeping it.)
Eating out: $477.51 (OUCH!!!!! I know I was bad on this one, since I was sick the first two weeks of January, but now I really see this is a problem. The last two weeks I’ve been sticking more to my plans for eating and making things myself. I also feel much healthier when I make my own things which consist of mainly fruits and vegetables. I even make my own candies.) My goal for February is to get this under $200. Maybe by a month or two I could even get it down to under $100. Now that would be a serious accomplishment!
Gifts: $66.75
Car insurance: $63.05 (The nice thing is my policy has me pay 4 months and then nothing for the next month so I won’t have this expense in March.)
Car fuel: $21.15 (didn’t go much of anywhere this month due to the weather)
Groceries: $312.18 (lower by about $80 this month!)
Misc. supplies (shampoo, soap, etc.): $155.63 (This was $35 higher this month due to the fact that I bought homemade soap from a small company for the next 6 months. It saves quite a bit on shipping costs to buy that much since it’s just a flat rate for shipping regardless of how much you buy.)
Doggie care: $162.21
Savings: $1,090.00 (due to the costs of starting up my real estate business)
Furniture fund: $250 ($1,000 more to go and I’m done with this, and the $250 will go right into savings.)
Travel fund: $250 ($500 more to go-not sure when I’ll travel but it will be there if I need it.)
Misc. spending (stuff-books, clothes, magazine subscriptions for 2016, charity):$256 (I bought 6 months’ worth of books on Amazon to keep up with the book club I’m in.)
Total living expenses: $1,843.73
Total business expenses: $447.00
Total savings: $1,090
Furniture/travel savings: $1,000
Carryover $ to emergency account: $83.17
I looked at my bills for the next month and saw that my Comcast bill was $30 more! So I call and the entire call takes a little over 48 minutes but the summary that call is as follows:
1. Billing department: Yes, we see you are being charged more because your one year promo ran out. I’ll transfer you to customer service so you can see if they have any promo offers for you.
2. Customer service: Yes, your one year promo rate expired. (Then comes the sales pitch.) No, I don’t watch TV, no time. No, I don’t want cable. No, I don’t want lighting fast Internet speed so I can download who knows what. I just want my $63 rate back with what I had before. If not, I really don’t plan on continuing with Comcast.
3. Verdict: Success! Got my $63 rate back with what I had before and no worthless cable channels. YES!
Real estate business goals:
1. Company name applied for
2. Lead web page for sellers completed
3. Completed several educational lessons online
4. Read wholesaling book
5. Went to wholesaling meeting
6. Looking at bidding on our first small property for a quick sale
Personal:
1. Read “The Autobiography of Mrs. Tom Thumb”. I’m in a book club. I joined so I could expand myself being the nonfiction business book. I’ve always felt fiction books were a waste of time so I thought I’d expand my mind a bit through joining a book club. I also read some travel magazines.
2. Set-up two financial reviews with FREE financial planners (courtesy of my work) for the month of January & February.
3. My husband and I went through the cabinets and starting finding recipes online to get rid of stuff. That has/saved me 1.5 weeks of grocery expenses.
4. Started lifting small weights and doing 15 minutes of stretching each evening. (Hopefully, I can get back to the work gym 2-3 times/per week.) My work has a free gym that can be used as it’s part of the hotel they rent to.
Big expenses for the month of February:
1. Dentist-estimate $125
2. 1st installment of property tax bill-$1,037
3. Silver-$500 (this completes the investing portion of silver in my plan)
Yikes moments:
1. I went out to lunch with co-workers a week ago and a half ago and yowsers! $23 for lunch! Okay, so glad I’m only doing this 1-2 times/per month. I can’t believe how much the prices have gone up where I work. (My work is in a more upscale area.)
2. Went to Starbucks one day last week while I was at work. $4.52 for a chai latte with soy milk! When did the price go so far up? Just a year or so ago it was still in the high $3 range. Glad I’ve been cutting out Starbucks. That’s ludicrous!
Future:
1. I’m still debating if it’s worth it to stay for 12.75 years at my job to get the full pension. That would be a nice cushion but it is going to be very difficult. Especially because I spent anywhere from 2-7 hours/per week on evening calls, which means I have no chance to make any plans during Monday-Thursday.
2. I might like to purchase some farmland to rent out. My father does this with some land he inherited and it brings in a decent, reliable income every month.
3. I’ll reassess things like annuities, etc., once I meet/review the two different financial planners’ recommendations.
4. I’m getting my eyes checked out. Nothing wrong with them but since eye insurance is part of my insurance, why not get the test done? This is the icky test where they put the drops in your eyes. I’ve only done that one other time in my life.
Thoughts:
1. The property taxes went up in Chicago (yet again). Illinois is so corrupt that it’s an embarrassment. I had a co-worker argue with me that it was important for the teachers. Okay, my argument was first, the money doesn’t go to the teachers, it goes to administration who keeps “borrowing” from their pension fund. Second, what about the guy who is going to lose his house since he can’t afford the extra $300+ a year to pay his property taxes? Is that fair? So again, just another example of robbing Peter to pay Paul.
2. Keeping this journal has really been opening my eyes to where my money goes. I think this will be a very good habit for me to get into, to post every month. Hopefully, I’ll continue to get better and better as time goes on. I am almost a little embarrassed at posting my spending numbers. I know they are higher because there are two of us, but still…hopefully, that will motivate me to do better since others are reading this.
Re: inchicago's journal
My god are you sure your apartment is only worth $85k?! Chicago must be such a cheap city. I am surprised it is so cheap for such a large vibrant city. Jealous, wish I could live there. Where I am you are looking at a minimum of $400k and for that price you get a horrible tiny cheaply constructed little box with possible leaky building problems. Good thing is being a 100% owner surely the value of your condo has lots of room to go up!
Re: inchicago's journal
Thrifty++: Yes, the average of my condo is about $85,000. I bought it just before the big crash at $82,000. I happen to live in a pocket that hasn't really since any significant investment so I think that is what has kept the real estate prices down. However, I have noticed lately that lots of places have been bought and are being remodeled by investors so perhaps that is going to change soon. There are still condos close to me with this price but they need some work. I'm sure there are other pockets throughout Chicago like this, but not many. Most condos are far most expensive.
Re: inchicago's journal
Wow I just cant imagine aparments being that cheap here. I wish there was a crash here. Surely I cant imagine your apartment remaining at that value for a lot longer with how much money people earn in a city like Chicago.
Re: inchicago's journal
First of all, it would be helpful if I would post the correct numbers so here is the final January income expenses:
Income (after taxes): $4,463.90
Expenses:
ComEd $48.41
Peoples Gas $53.00
condo assessment $159.00
Geico (car insurance) $63.05
Children International (charity) $25.00
Comcast (Internet) $63.45
Hulu (Internet TV) $8.71
gifts $66.75
car fuel $21.15
eating out $477.51
groceries $312.18
misc. supplies (shampoo) $155.63
doggie $162.21
misc. spending (books, clothing, etc.) $551.85
travel fund $250.00
furniture $250.00
carryover to emergency account $100.00
silver $90.00
savings $1,000.00
business expenses $606.00
Total $4,463.90
savings rate 24%
My goal for February is to get a savings rate of 35% or more. I just had an eye exam which cost me $70 after insurance but the nice thing is that I have a HSA so I can get that money back pre-tax.
Work is getting more and more difficult. I just don't know if I can continue that much longer physically with all the hours. I really, really, really want to just get up and go teach English in some other low cost country right now and hang out at the beach on the weekends.
Income (after taxes): $4,463.90
Expenses:
ComEd $48.41
Peoples Gas $53.00
condo assessment $159.00
Geico (car insurance) $63.05
Children International (charity) $25.00
Comcast (Internet) $63.45
Hulu (Internet TV) $8.71
gifts $66.75
car fuel $21.15
eating out $477.51
groceries $312.18
misc. supplies (shampoo) $155.63
doggie $162.21
misc. spending (books, clothing, etc.) $551.85
travel fund $250.00
furniture $250.00
carryover to emergency account $100.00
silver $90.00
savings $1,000.00
business expenses $606.00
Total $4,463.90
savings rate 24%
My goal for February is to get a savings rate of 35% or more. I just had an eye exam which cost me $70 after insurance but the nice thing is that I have a HSA so I can get that money back pre-tax.
Work is getting more and more difficult. I just don't know if I can continue that much longer physically with all the hours. I really, really, really want to just get up and go teach English in some other low cost country right now and hang out at the beach on the weekends.
Re: inchicago's journal
Interestingly enough, I really thought long and hard about the reason why I keep eating out. It's mainly caused by two things: boredom and avoidance.
Every morning I stop and buy a chai latte before I get to work. I realized I am doing this to delay myself getting into work by a few minutes. Hmmm....now tomorrow starts no more doing that (pray for me!)...not only because of needing to deal with this issue and the wasted money, but also I have noticed my health is nowhere near what it should be. Putting over 75g of sugar in me per day is most likely the issue here with my health. I'm sure the next few days are going to be unpleasant, but I don't feel well at all so a few days discomfort will be worth it. Not only will I feel better but so will my bank account. Win-win.
I've been bringing my lunch to work, not only to save money, but also to get more vegetables in me. Now another interesting thing happened today, and maybe this is because I've been filling myself up with delicious vegetables for the past week and a half, but I did not bring my lunch today. As I was walking around (in the cold, might I add), nothing, and I mean nothing, interested me at all. All unhealthy and overpriced. It doesn't help that I work in such an expensive area, either. It was easier when I worked in the Loop to find something with a halfway decent price...
Anyway, I'm looking forward to getting rid of this awful habit once and for all. It's too bad I even started it 3 or 4 years ago...
Every morning I stop and buy a chai latte before I get to work. I realized I am doing this to delay myself getting into work by a few minutes. Hmmm....now tomorrow starts no more doing that (pray for me!)...not only because of needing to deal with this issue and the wasted money, but also I have noticed my health is nowhere near what it should be. Putting over 75g of sugar in me per day is most likely the issue here with my health. I'm sure the next few days are going to be unpleasant, but I don't feel well at all so a few days discomfort will be worth it. Not only will I feel better but so will my bank account. Win-win.
I've been bringing my lunch to work, not only to save money, but also to get more vegetables in me. Now another interesting thing happened today, and maybe this is because I've been filling myself up with delicious vegetables for the past week and a half, but I did not bring my lunch today. As I was walking around (in the cold, might I add), nothing, and I mean nothing, interested me at all. All unhealthy and overpriced. It doesn't help that I work in such an expensive area, either. It was easier when I worked in the Loop to find something with a halfway decent price...
Anyway, I'm looking forward to getting rid of this awful habit once and for all. It's too bad I even started it 3 or 4 years ago...
Re: inchicago's journal
So February 2016 has about come and gone. Here is how the month went and my expenses/savings. Not so great. 
Expenses/savings
Income (after taxes): $4,463.90
Expenses:
ComEd (electricity) $49.07
Peoples Gas $53.00
condo assessment $159.00
Geico (car insurance) $-
Children International & charity $285.00
Comcast (Internet) $64.51
Hulu (Internet TV) $8.71
gifts
car fuel $16.11
eating out $388.41
groceries $488.07
misc. supplies (shampoo) $58.96
doggie $132.25
misc. spending (books, etc.) $360.04
clothing $20.00
alternative medicine $180.00
medical (eye & dentist) $190.00
travel fund $328.00
furniture $0
carryover to emergency account $0
silver $590.00
savings $0
business expenses $55.23
taxes $1,037.54
Total $4,463.90
savings rate 13% (silver only)
My main goal was to stop drinking chai lattes. So…how did I do? Oh yeah, baby! I kicked that one right in the tush! What I had to do was substitute it with tea and soy/almond milk. This costs less than buying a chai latte (at most places). As the sugar/caffeine addiction kept wearing off, I realized I didn’t so much need the tea latte every day (usually twice a day). One of the big reasons I decided to stop drinking the chais was because of the sugar load and the fact that I keep having gum problems which is very painful. I read that it is usually caused by bacteria trapped in the pockets of the gums. I bought some red clay which you can brush with and is supposed to help bind the bacteria. I’m sure hoping it works. Drinking just two small chai lattes a day was about 75g of sugar per day. So I’m sure I was close to 100g. I’ve also cut out all chocolate. Those were my two sugar addictions. The weekend that I implemented this, I was beyond exhausted. Thank goodness it was a 3-day weekend! Anyway, I realize my substitutions for the sugary drink haven’t helped my bank account but I have high hopes that after the addiction has worn off, I will drink less and less and save quite a bit of money in the process.
I used to get several monthly packages of vegan body care products. I cancelled all these but have just one left which comes quarterly. I’m finally going to cancel this last one which frees up $33, which is $132/per year. I mean seriously, how many sugar scrubs and body balms can you have? I’ve been trying to use up the ones I have for over a year, and I have also given several of them away, but I still have a ton. I doubt I would need any for the next 5 years, but maybe I just don’t use them as often as the average person.
I used to love traveling and thinking of all the places I wanted to go, and I still get like that at times, but the hassle of going through the airports and the time and expense seems too overwhelming. I’m thinking more and more just to visit the states I haven’t gone yet, but also use my vacations to actually rest.
Maybe I don’t want to travel so much because of my work. I’ve been there a little over two years and if I had known I was going to be expected to do as much as I do but mainly that my evenings no longer belong to me, I would have NEVER, EVER said yes to this job. My time is far more valuable to be than money. So I can look for a new job, but I don’t have a ton of hope for that one. Mainly this is because it seems more and more JOBS want you to be at their beck and call 24-7. How did it get this bad?
I had the meeting with the financial “education company” planner who is paid for employees by where I work. Same tired advice. I have decided to go ahead and continue to invest in the 401k, but only up to the match. I tell him I’m planning on retiring no later than my late 40s. He says he doesn’t know how. He will work until 67. So I asked him why work until 67 if you don’t have to? He wanted to hear none of my thoughts on why you didn’t have to wait until 67. I suppressed a few chuckles there, I have to admit.
On to some accomplishments…
Books I’ve read this month (lots of time to read on the CTA):
1. The Tax & Legal Playbook (for the business)
2. Deep South (love reading about travel)
3. Three Men in a Boat (based off a recommendation I read on this board-I may recommend this as one of my book clubs selections)
4. The Bible as History (always interested in archaeology)
5. The Life Changing Magic of Tidying Up (read more from the angle of getting rid of mental clutter versus stuff, since I am very neat and clean and don’t have much clutter/stuff (by American standards)
6. The World is a Carpet (travel)
7. You are Your Own Gym (This one was bought so I can get a serious workout right in my own home.)
I also finished up the Scandinavian TV & Film course on Coursera. I am planning on taking the course on the Ancient Greeks next.
Successes this past month:
• Cooked at home more and used up even more stuff that was just sitting in the cabinets (flour, oats, lentils, pecans)
• Real estate business paperwork set-up
• Taxes done and getting a decent refund
• Completed real estate lessons with coach
• Started back with daily evening yoga (in my home, not paying for lessons)
• Ate out at lunch at work only 8 days out 20 (March I’m aiming for 5 days or less.)
• Completed the silver investing portion of my silver/gold investing plan
• Sold two end tables (now they were nowhere what I paid for them back in 1998, but I was just go to give them to charity so at least I got a little something ($150))
• The last two weeks I managed to keep my grocery spending at $75 per week. I obviously spent way to much during the first three weeks. Getting there…
New recipes (I tried to get rid of all the different flours I had in the cabinets. Still lots more to go.):
• Orange almond cake
• Spelt bread
• Cornbread
• Oat cookies with walnuts & cocoa powder
• Salad with chayote squash (that was a new vegetable I had never tried before)
• Tomato & herb couscous
The nice thing is that I’m started to see some space in the cabinets. Now, I don’t think I have a ton of cabinet space, although some think my kitchen is a pretty nice size for a condo of my size. I have no idea why they make the storage space so small in these condos. Perhaps they have a hidden deal with the self-storage rentals.
Short-term goals:
• Cut grocery bill & eating out (starting slowly I’m going for 15% reductions on both)
• Complete my first wholesaling property deal
• Lose 5 pounds and lift more weights
• Eliminate daily tea latte (no sugar!) purchases (even though I’ve gotten rid of the 2-3 chairs per day. I’ve been substituting with the no sugar latte substitutes with 1-2 per day)
Thoughts:
1. I have a co-worker who proudly one day told me that she doesn’t cook. Now, she has several health problems and eats mainly microwave meals and trail mix. Why would anyone be proud that they don’t cook? It’s not like she can afford a private cook. Seems to be if she wanted better health then she would at least attempt to learn to cook something healthy.
2. The stock market: I’m pretty much done with the stock market and 401ks. I’ve never gotten the returns that one would think. I could have done better with buying a condo here and there and then selling them. And speaking of real estate, I love all I’m learning about this field and all the ways to make money. I always wondered how investors were making a killing in a down market. Now I know. Knowledge certainly leads to empowerment. I feel once I get this started, that I will always be able to bring cash in the door.
3. I have been thinking more and more about how sad it is that all of our companies have gone overseas and entire towns have been decimated. Yet, nothing is done to these companies. All ERE people are providing a valuable service by not buying the junk from these people. It’s kind of dumb that we buy this garbage and the company has no stake here and offers absolutely no benefits. It’s like I tell people. If you shop at Wal-Mart, you are part of the problem. And people sure don’t like to hear that.
4. The presidential election: I have no idea why anyone in their right mind would vote for a Clinton or a Bush. Am I missing something?
5. I sure hope there isn’t another crash. It seems that all signs are pointing that way. If the big boys would stop manipulating the market, (of course they do that because it makes them $ in the short term), then we wouldn’t have all these problems. Sick the way the whole economic thing works.
6. I would love to have a house with my own backyard but Chicago is way too expensive and taxes are ridiculous. We are thinking in the next few years to move somewhere else. Probably somewhere in the Midwest. I hope to pay cash when that time comes for the house. I just can’t even think of ever taking another mortgage on a personal residence ever again. Now, for investment property, no problem, since someone else is paying the interest. When I think how much money I wasted on renting and homes I no longer own, it almost makes me cry. Almost.
7. “It’s not how much you make. It’s how much you spend.”-I read this on a comment to an article. 100% truth.
Expenses/savings
Income (after taxes): $4,463.90
Expenses:
ComEd (electricity) $49.07
Peoples Gas $53.00
condo assessment $159.00
Geico (car insurance) $-
Children International & charity $285.00
Comcast (Internet) $64.51
Hulu (Internet TV) $8.71
gifts
car fuel $16.11
eating out $388.41
groceries $488.07
misc. supplies (shampoo) $58.96
doggie $132.25
misc. spending (books, etc.) $360.04
clothing $20.00
alternative medicine $180.00
medical (eye & dentist) $190.00
travel fund $328.00
furniture $0
carryover to emergency account $0
silver $590.00
savings $0
business expenses $55.23
taxes $1,037.54
Total $4,463.90
savings rate 13% (silver only)
My main goal was to stop drinking chai lattes. So…how did I do? Oh yeah, baby! I kicked that one right in the tush! What I had to do was substitute it with tea and soy/almond milk. This costs less than buying a chai latte (at most places). As the sugar/caffeine addiction kept wearing off, I realized I didn’t so much need the tea latte every day (usually twice a day). One of the big reasons I decided to stop drinking the chais was because of the sugar load and the fact that I keep having gum problems which is very painful. I read that it is usually caused by bacteria trapped in the pockets of the gums. I bought some red clay which you can brush with and is supposed to help bind the bacteria. I’m sure hoping it works. Drinking just two small chai lattes a day was about 75g of sugar per day. So I’m sure I was close to 100g. I’ve also cut out all chocolate. Those were my two sugar addictions. The weekend that I implemented this, I was beyond exhausted. Thank goodness it was a 3-day weekend! Anyway, I realize my substitutions for the sugary drink haven’t helped my bank account but I have high hopes that after the addiction has worn off, I will drink less and less and save quite a bit of money in the process.
I used to get several monthly packages of vegan body care products. I cancelled all these but have just one left which comes quarterly. I’m finally going to cancel this last one which frees up $33, which is $132/per year. I mean seriously, how many sugar scrubs and body balms can you have? I’ve been trying to use up the ones I have for over a year, and I have also given several of them away, but I still have a ton. I doubt I would need any for the next 5 years, but maybe I just don’t use them as often as the average person.
I used to love traveling and thinking of all the places I wanted to go, and I still get like that at times, but the hassle of going through the airports and the time and expense seems too overwhelming. I’m thinking more and more just to visit the states I haven’t gone yet, but also use my vacations to actually rest.
Maybe I don’t want to travel so much because of my work. I’ve been there a little over two years and if I had known I was going to be expected to do as much as I do but mainly that my evenings no longer belong to me, I would have NEVER, EVER said yes to this job. My time is far more valuable to be than money. So I can look for a new job, but I don’t have a ton of hope for that one. Mainly this is because it seems more and more JOBS want you to be at their beck and call 24-7. How did it get this bad?
I had the meeting with the financial “education company” planner who is paid for employees by where I work. Same tired advice. I have decided to go ahead and continue to invest in the 401k, but only up to the match. I tell him I’m planning on retiring no later than my late 40s. He says he doesn’t know how. He will work until 67. So I asked him why work until 67 if you don’t have to? He wanted to hear none of my thoughts on why you didn’t have to wait until 67. I suppressed a few chuckles there, I have to admit.
On to some accomplishments…
Books I’ve read this month (lots of time to read on the CTA):
1. The Tax & Legal Playbook (for the business)
2. Deep South (love reading about travel)
3. Three Men in a Boat (based off a recommendation I read on this board-I may recommend this as one of my book clubs selections)
4. The Bible as History (always interested in archaeology)
5. The Life Changing Magic of Tidying Up (read more from the angle of getting rid of mental clutter versus stuff, since I am very neat and clean and don’t have much clutter/stuff (by American standards)
6. The World is a Carpet (travel)
7. You are Your Own Gym (This one was bought so I can get a serious workout right in my own home.)
I also finished up the Scandinavian TV & Film course on Coursera. I am planning on taking the course on the Ancient Greeks next.
Successes this past month:
• Cooked at home more and used up even more stuff that was just sitting in the cabinets (flour, oats, lentils, pecans)
• Real estate business paperwork set-up
• Taxes done and getting a decent refund
• Completed real estate lessons with coach
• Started back with daily evening yoga (in my home, not paying for lessons)
• Ate out at lunch at work only 8 days out 20 (March I’m aiming for 5 days or less.)
• Completed the silver investing portion of my silver/gold investing plan
• Sold two end tables (now they were nowhere what I paid for them back in 1998, but I was just go to give them to charity so at least I got a little something ($150))
• The last two weeks I managed to keep my grocery spending at $75 per week. I obviously spent way to much during the first three weeks. Getting there…
New recipes (I tried to get rid of all the different flours I had in the cabinets. Still lots more to go.):
• Orange almond cake
• Spelt bread
• Cornbread
• Oat cookies with walnuts & cocoa powder
• Salad with chayote squash (that was a new vegetable I had never tried before)
• Tomato & herb couscous
The nice thing is that I’m started to see some space in the cabinets. Now, I don’t think I have a ton of cabinet space, although some think my kitchen is a pretty nice size for a condo of my size. I have no idea why they make the storage space so small in these condos. Perhaps they have a hidden deal with the self-storage rentals.
Short-term goals:
• Cut grocery bill & eating out (starting slowly I’m going for 15% reductions on both)
• Complete my first wholesaling property deal
• Lose 5 pounds and lift more weights
• Eliminate daily tea latte (no sugar!) purchases (even though I’ve gotten rid of the 2-3 chairs per day. I’ve been substituting with the no sugar latte substitutes with 1-2 per day)
Thoughts:
1. I have a co-worker who proudly one day told me that she doesn’t cook. Now, she has several health problems and eats mainly microwave meals and trail mix. Why would anyone be proud that they don’t cook? It’s not like she can afford a private cook. Seems to be if she wanted better health then she would at least attempt to learn to cook something healthy.
2. The stock market: I’m pretty much done with the stock market and 401ks. I’ve never gotten the returns that one would think. I could have done better with buying a condo here and there and then selling them. And speaking of real estate, I love all I’m learning about this field and all the ways to make money. I always wondered how investors were making a killing in a down market. Now I know. Knowledge certainly leads to empowerment. I feel once I get this started, that I will always be able to bring cash in the door.
3. I have been thinking more and more about how sad it is that all of our companies have gone overseas and entire towns have been decimated. Yet, nothing is done to these companies. All ERE people are providing a valuable service by not buying the junk from these people. It’s kind of dumb that we buy this garbage and the company has no stake here and offers absolutely no benefits. It’s like I tell people. If you shop at Wal-Mart, you are part of the problem. And people sure don’t like to hear that.
4. The presidential election: I have no idea why anyone in their right mind would vote for a Clinton or a Bush. Am I missing something?
5. I sure hope there isn’t another crash. It seems that all signs are pointing that way. If the big boys would stop manipulating the market, (of course they do that because it makes them $ in the short term), then we wouldn’t have all these problems. Sick the way the whole economic thing works.
6. I would love to have a house with my own backyard but Chicago is way too expensive and taxes are ridiculous. We are thinking in the next few years to move somewhere else. Probably somewhere in the Midwest. I hope to pay cash when that time comes for the house. I just can’t even think of ever taking another mortgage on a personal residence ever again. Now, for investment property, no problem, since someone else is paying the interest. When I think how much money I wasted on renting and homes I no longer own, it almost makes me cry. Almost.
7. “It’s not how much you make. It’s how much you spend.”-I read this on a comment to an article. 100% truth.
Re: inchicago's journal
Okay, can I get a drum roll please?
My savings rate for March? 65%! YES!
So I still managed to spend $350 on groceries and $400 eating out in March and that is where April's focus is going to be on. Now that the weather is getting warmer, I will be able to buy more fruits and vegetables at the roadside sellers, which is usually dirt cheap. My goal for this month is $500 for both us. That's a huge drop, but only a couple of years ago I was spending around $300/per month. Obviously, I picked up some very, very bad habits. Yes, my current job has a lot to do with it, but after some things that have happened there in the last 3 weeks, I've decided to approach it a bit different. I won't be working all those hours. That's just the way it's going to have to be. I will of course continue to look for a different job, and would even be willing to take a bit less money, depending on the hours and workload. I realize more and more, my time is more important to me than anything else.
Due to a break-in in broad daylight in our condo building, I will now need to invest in a decent alarm monitoring service. I've been researching several and have found one with good reviews that will be under $20/per month with no upfront costs. Another expense, but I don't need someone breaking in here and destroying my stuff or doing something to my dog.
Major goals for the next month:
1. Find new, less stressful and demanding job
2. Get grocery/eating out spending to $500/per month or less
One of my co-workers was complaining that she couldn't retire for another 10 years and I asked her why. Well, it turns out that she has bought a place that was almost $300k that comes with a high assessment because of a FT doorman. No comment.
Anyway, I'm greatly encouraged by the 65% savings rate from last month. It really wasn't even that hard to achieve. I just monitored my spending a little more than usual and really asked myself if I needed what I was buying.
My savings rate for March? 65%! YES!
So I still managed to spend $350 on groceries and $400 eating out in March and that is where April's focus is going to be on. Now that the weather is getting warmer, I will be able to buy more fruits and vegetables at the roadside sellers, which is usually dirt cheap. My goal for this month is $500 for both us. That's a huge drop, but only a couple of years ago I was spending around $300/per month. Obviously, I picked up some very, very bad habits. Yes, my current job has a lot to do with it, but after some things that have happened there in the last 3 weeks, I've decided to approach it a bit different. I won't be working all those hours. That's just the way it's going to have to be. I will of course continue to look for a different job, and would even be willing to take a bit less money, depending on the hours and workload. I realize more and more, my time is more important to me than anything else.
Due to a break-in in broad daylight in our condo building, I will now need to invest in a decent alarm monitoring service. I've been researching several and have found one with good reviews that will be under $20/per month with no upfront costs. Another expense, but I don't need someone breaking in here and destroying my stuff or doing something to my dog.
Major goals for the next month:
1. Find new, less stressful and demanding job
2. Get grocery/eating out spending to $500/per month or less
One of my co-workers was complaining that she couldn't retire for another 10 years and I asked her why. Well, it turns out that she has bought a place that was almost $300k that comes with a high assessment because of a FT doorman. No comment.
Anyway, I'm greatly encouraged by the 65% savings rate from last month. It really wasn't even that hard to achieve. I just monitored my spending a little more than usual and really asked myself if I needed what I was buying.
-
IlliniDave
- Posts: 3870
- Joined: Wed Apr 02, 2014 7:46 pm
Re: inchicago's journal
That's a very important question, and an excellent result. Congrats.inchicago wrote:
Anyway, I'm greatly encouraged by the 65% savings rate from last month. It really wasn't even that hard to achieve. I just monitored my spending a little more than usual and really asked myself if I needed what I was buying.
Re: inchicago's journal
Thanks! This month had a lot of expenses, but I'm getting the hang of this thing.
Re: inchicago's journal
April 2016 Update
This month I became a year older.
Lots of expenses this month. The vet was $320. I got an alarm system installed this month, due to the break-in of the building I’m in which happened a few weeks ago. That was also over $300. I also splurged on a fancy Scandinavian lunch which was $70 for two people.
Well, the era of cheap property in my neighborhood has ended. The investors have figured it out. I paid $82k back in 2009, which was actually a little on the high side then. The same type of place I have is going for around $160k. For investing purposes, I will soon buy another condo to rent out. Finding something under $100k isn’t easy so it’s not going to be in my neighborhood. I actually have a suburb picked out with good schools so finding something for sale is the challenge. However, being that interest rates are rising and properties are getting more expensive, I may just sit and wait out the potential bubble. It seems we are getting right back to where we were back in 2005/2006. This time I’m prepared.
I’ve also been moving ahead with the business. We were close in getting a property, and we still hope for the owner to call us back. It would be a great deal for resale. We’ve also joined a real estate mentoring group to learn as much as we can and make contacts.
I’m still working on my health and trying to get as much energy as I can. I had to spend about $160 on vitamins and supplements this past month. I continue to get 10,000 steps per day.
Books I read this month:
• The Fortress of Solitude
• To Kill a Mockingbird
I still ended the month with a 25% savings rate. Not even close to as good as last month, but I’ve definitely figured out how I can cut the expenses down and I will continue working on that every month; a little bit here, a little bit there.
Expenses to seriously cut down still are groceries and eating out. My husband has suggested since it’s best for my health, we should go to a raw vegan diet. Ha! Like he will ever stick with that. The way I did it before was to eat raw vegan all week and on the weekends could have what I wanted. It worked out well, and I hardly ever went out to eat. Plus, I felt 90% better than I do now. I had to go to the doctor again because I have a recurring pain in my side. I’ve also been told “no more sugar” so now that has been a direct order, and probably contributing to a lot of my health problems, I am going to have to watch a lot more what I buy and make, which in the end means I will save money because I can really only purchase items to make my own recipes. So I’m shooting for under $500 on food/drink expenses this month.
According to this site https://www.16personalities.com/infj-personality, my personality type is Advocate (INFJ-T). I’ve also considered myself more on the introvert side, but can be an extrovert if the situation or environment requires it.
I’m seriously considering trying to attend law school in 2017. Now, I don’t really want to do back to school and deal with all that, but I feel like I need a real skill. The other reason is I may have significant help paying for it. I would really like to do real estate closings and use a lot of the knowledge for myself in my own business. Maybe I could even have a small firm or just do it myself. I would have to attend school part-time since I have to keep a job. Anyone out there have any thoughts on this?
Oh, and the story I told about the lady at my work who drained her retirement account and is almost 60. Sadly, she was let go last week. Which strengthens my resolve to continue to remain as debt-free as humanly possible. In fact, I’m going to challenge myself this month on the eating out/grocery spending.
This month I became a year older.
Lots of expenses this month. The vet was $320. I got an alarm system installed this month, due to the break-in of the building I’m in which happened a few weeks ago. That was also over $300. I also splurged on a fancy Scandinavian lunch which was $70 for two people.
Well, the era of cheap property in my neighborhood has ended. The investors have figured it out. I paid $82k back in 2009, which was actually a little on the high side then. The same type of place I have is going for around $160k. For investing purposes, I will soon buy another condo to rent out. Finding something under $100k isn’t easy so it’s not going to be in my neighborhood. I actually have a suburb picked out with good schools so finding something for sale is the challenge. However, being that interest rates are rising and properties are getting more expensive, I may just sit and wait out the potential bubble. It seems we are getting right back to where we were back in 2005/2006. This time I’m prepared.
I’ve also been moving ahead with the business. We were close in getting a property, and we still hope for the owner to call us back. It would be a great deal for resale. We’ve also joined a real estate mentoring group to learn as much as we can and make contacts.
I’m still working on my health and trying to get as much energy as I can. I had to spend about $160 on vitamins and supplements this past month. I continue to get 10,000 steps per day.
Books I read this month:
• The Fortress of Solitude
• To Kill a Mockingbird
I still ended the month with a 25% savings rate. Not even close to as good as last month, but I’ve definitely figured out how I can cut the expenses down and I will continue working on that every month; a little bit here, a little bit there.
Expenses to seriously cut down still are groceries and eating out. My husband has suggested since it’s best for my health, we should go to a raw vegan diet. Ha! Like he will ever stick with that. The way I did it before was to eat raw vegan all week and on the weekends could have what I wanted. It worked out well, and I hardly ever went out to eat. Plus, I felt 90% better than I do now. I had to go to the doctor again because I have a recurring pain in my side. I’ve also been told “no more sugar” so now that has been a direct order, and probably contributing to a lot of my health problems, I am going to have to watch a lot more what I buy and make, which in the end means I will save money because I can really only purchase items to make my own recipes. So I’m shooting for under $500 on food/drink expenses this month.
According to this site https://www.16personalities.com/infj-personality, my personality type is Advocate (INFJ-T). I’ve also considered myself more on the introvert side, but can be an extrovert if the situation or environment requires it.
I’m seriously considering trying to attend law school in 2017. Now, I don’t really want to do back to school and deal with all that, but I feel like I need a real skill. The other reason is I may have significant help paying for it. I would really like to do real estate closings and use a lot of the knowledge for myself in my own business. Maybe I could even have a small firm or just do it myself. I would have to attend school part-time since I have to keep a job. Anyone out there have any thoughts on this?
Oh, and the story I told about the lady at my work who drained her retirement account and is almost 60. Sadly, she was let go last week. Which strengthens my resolve to continue to remain as debt-free as humanly possible. In fact, I’m going to challenge myself this month on the eating out/grocery spending.
Re: inchicago's journal
My savings rate for the month of May was 34%. I still have some work to do, but hey, it gets better and better. (I’m not counting my 401k of 9% in my calculation.)
I had to buy several gifts this month which raised the budget, but I was careful and spent less than I would have a year ago. There were two graduation gifts, Mother’s Day, Father’s Day and two birthdays. I should be done with the majority of gifts until the holidays. The advantages of having a very small family and no children….
My biggest cost savings came at watching the grocery spending and cutting out eating on the weekends. I have drastically reduced my tea drinking. Come on warm weather so I can cut that out completely! I’ve started making myself wraps with quinoa or rice and vegetables for lunch, along with some homemade vegetable soup. I have been making spelt flour biscuits for breakfast. Dinner is usually potatoes and rice or just vegetables, like salads, and we have tried several new recipes. I need to get back to a few years ago when my bill for two of us was under $200; not $800-$900, which is ludicrous. I’m down to $600/per month between groceries and eating out. Making slow progress. We have thrown very little out this past month, too.
Another interesting thing happened this month. My husband, who LOVES to spend money, particularly on Starbucks, candies, sodas, you name it, has decided his lifestyle is too unhealthy. (Like I haven’t been telling him that for 9 years now…) However, he has been following Jacob’s posts on Facebook. Jacob must have posted an article or two about a potential recession and that seems to have woken him up a bit. (Yes, I had mentioned the recession thing almost a million times now, but I suppose it’s because Jacob is a fellow Dane.) He has decided we eat out too much and need to focus on eating better and working out. He is always telling me about the articles. We will see if this lasts.
Weird thing, at about the first of the month, I started to feel a bit panicked. Maybe because I’m almost 40. I don’t know. I keep thinking how unstable the world of work is right now. How it’s so demanding of one’s time for so little reward. Then I do the stupid thing and spend too much money, this month it happened to be on salon services, which I rarely do. However, for June, I’ve got a plan and will keep track of every penny.
My plan going forward is as follows:
• No tea drinking on the weekends: $40 (for two people)-under control!
• No tea drinking while at work: 20 days x $8/per day=$160-this still needs work!
• No eating out on the weekends: $120 (for two people)-accomplished!
• Less lunches while at work: $200-about 60% of the way there this month!
• Grocery spending cut to: $50/per week average (mainly vegetables)=$200 savings-so close!
• The total savings altogether per month on groceries and eating out would be: $720!!!! (I'm down quite a bit but the savings are really going to be measurable. This will give me the extra money I need to put into dividend stocks.)
=NICE! (At this rate I can afford two extra international vacations. LOL)
I keep seeing articles about how if Americans would just spend more money (on worthless garbage), then the economy would grow and etc., etc., etc. I for one am not going to spend more money just so bankers and business owners and their shareholders can get even more money. I don’t think the benefits are enough to justify sacrificing someone’s financial freedom or retirement.
Skills I want to work on in the future:
• Cutting hair (I used to do my own when I was a teenager and everyone thought I went to the salon!)
• Learning to groom my little dog. $75/per month is expensive! Next time, I need to get a groom-free dog, although I really do like the dog breed I have.
Books I read this month:
• The Cities that the Bible Built (getting ready for my trip to Israel this summer)
• Smoke Gets in Your Eyes: And Other Lessons from the Crematory (book club selection)
• The Soup Cleanse
• A Beginner’s Guide to Paradise
• The Mechanical Bicycle
I’ve been thinking a lot of what I want after FI is reached. Here are some ideas I’ve been throwing around:
• Living somewhere internationally where it’s cheaper.
• Moving to a much smaller city and living outside of it and spending 2-3 months in another country for part of the year.
• I really want a place which is close to a halfway clean source of water to go swimming in.
• I really, really want a place to park my car, unless I don’t need a car, which would be even better.
I want to continue to challenge myself to save somewhere between 50-60% of my income every month. More if possible, but for now, I need to be realistic. Some big bills are coming up in a month or two: property taxes, a plumber for the bathtub which sounds like a water hammer issue and the trip I’m taking this summer.
One thing I’ve thought about lately, or should I say missing, is life before all this worthless technology, like social media. It was nice to sit on the train and read a book without some moron shouting in their phone about how their man knocked some other lady up. Does everyone really need to hear your personal business? When has that become acceptable? I miss the quiet of the “old days”. I also miss the days where I could walk down the street and not have to dodge multiple morons who are texting and playing games on their cell phones. I’ve started not moving for them, because it’s truly getting to be a public nuisance! Maybe I have “cell phone rage”? Is that’s what’s wrong with me? The other thing that irritates me in American society is that everything, and I mean everything , has to have a label. I wonder if this has to do with the marketing of every little thing in consumer culture. Okay, rant over…
I’m still debating my options:
1. I found out, though I need to confirm this with HR, that after 5 years, one is vested in the retirement plan, and will get the full pension averaged over the pay over years of service when one hits 65. If that is the case, I have a little over 2 years left. The pension would be worth about $38k/per year.
2. Do I look for a new job, with about the same pay, which may or may not have a pension, but would be less stressful and would give me more of my time back? While the new place may have a pension, I would be starting from the bottom up again. (I have had an interview and it looks promising.)
3. I’m wondering if I just hate working in general and that’s the main issue here. I think to go to a new job, but it’s the same issue for me. I have to get up too early, sit at a tiny desk for hours on end, be told when I can leave and eat lunch on someone else’s schedule. Not to mention boring, unchallenging work which usually ends in the end leads to absolutely nothing.
4. I would eventually hit $100k by the 2020s based on an increase averaging 3%/per year. My guess is that they would cap my salary, give me an extra week of vacation or force me to become a supervisor at that rate.
I would love to hear thoughts on this and what everyone thinks about them.
Other thoughts:
1. I also believe I will take my father’s offer to take his old car once mine goes kaput. If I have to stay here in my condo for a little while longer and park my car on the street, there is no reason to get anything fancy.
2. I really want to write at least one book in my lifetime.
3. While thinking about law school this past month, I decided to learn a bit on the side and went to a law library and learned to look up cases for reference in the various books. It’s nice that the law libraries are open for the public’s use.
My goals for the next couple of months are:
• Identify a rental property to purchase before the end of the year.
• Buy a few over-the-counter tax sell land plots and resell them.
What’s really helped as I soon approach my one year here, is tracking all my expenses and putting them in categories. I know exactly what to look for now and where I’m “out of control”. I can feel I’m going to get better and better with every passing month. Sure, it’s taking me some time to get a grip on spending, but it’s better late than never, or so they say.
I know this has certainly turned into a long post. I actually write this post all month long as different thoughts about ERE, FI, my finances/plans and the economy in general come to me.
I had to buy several gifts this month which raised the budget, but I was careful and spent less than I would have a year ago. There were two graduation gifts, Mother’s Day, Father’s Day and two birthdays. I should be done with the majority of gifts until the holidays. The advantages of having a very small family and no children….
My biggest cost savings came at watching the grocery spending and cutting out eating on the weekends. I have drastically reduced my tea drinking. Come on warm weather so I can cut that out completely! I’ve started making myself wraps with quinoa or rice and vegetables for lunch, along with some homemade vegetable soup. I have been making spelt flour biscuits for breakfast. Dinner is usually potatoes and rice or just vegetables, like salads, and we have tried several new recipes. I need to get back to a few years ago when my bill for two of us was under $200; not $800-$900, which is ludicrous. I’m down to $600/per month between groceries and eating out. Making slow progress. We have thrown very little out this past month, too.
Another interesting thing happened this month. My husband, who LOVES to spend money, particularly on Starbucks, candies, sodas, you name it, has decided his lifestyle is too unhealthy. (Like I haven’t been telling him that for 9 years now…) However, he has been following Jacob’s posts on Facebook. Jacob must have posted an article or two about a potential recession and that seems to have woken him up a bit. (Yes, I had mentioned the recession thing almost a million times now, but I suppose it’s because Jacob is a fellow Dane.) He has decided we eat out too much and need to focus on eating better and working out. He is always telling me about the articles. We will see if this lasts.
Weird thing, at about the first of the month, I started to feel a bit panicked. Maybe because I’m almost 40. I don’t know. I keep thinking how unstable the world of work is right now. How it’s so demanding of one’s time for so little reward. Then I do the stupid thing and spend too much money, this month it happened to be on salon services, which I rarely do. However, for June, I’ve got a plan and will keep track of every penny.
My plan going forward is as follows:
• No tea drinking on the weekends: $40 (for two people)-under control!
• No tea drinking while at work: 20 days x $8/per day=$160-this still needs work!
• No eating out on the weekends: $120 (for two people)-accomplished!
• Less lunches while at work: $200-about 60% of the way there this month!
• Grocery spending cut to: $50/per week average (mainly vegetables)=$200 savings-so close!
• The total savings altogether per month on groceries and eating out would be: $720!!!! (I'm down quite a bit but the savings are really going to be measurable. This will give me the extra money I need to put into dividend stocks.)
=NICE! (At this rate I can afford two extra international vacations. LOL)
I keep seeing articles about how if Americans would just spend more money (on worthless garbage), then the economy would grow and etc., etc., etc. I for one am not going to spend more money just so bankers and business owners and their shareholders can get even more money. I don’t think the benefits are enough to justify sacrificing someone’s financial freedom or retirement.
Skills I want to work on in the future:
• Cutting hair (I used to do my own when I was a teenager and everyone thought I went to the salon!)
• Learning to groom my little dog. $75/per month is expensive! Next time, I need to get a groom-free dog, although I really do like the dog breed I have.
Books I read this month:
• The Cities that the Bible Built (getting ready for my trip to Israel this summer)
• Smoke Gets in Your Eyes: And Other Lessons from the Crematory (book club selection)
• The Soup Cleanse
• A Beginner’s Guide to Paradise
• The Mechanical Bicycle
I’ve been thinking a lot of what I want after FI is reached. Here are some ideas I’ve been throwing around:
• Living somewhere internationally where it’s cheaper.
• Moving to a much smaller city and living outside of it and spending 2-3 months in another country for part of the year.
• I really want a place which is close to a halfway clean source of water to go swimming in.
• I really, really want a place to park my car, unless I don’t need a car, which would be even better.
I want to continue to challenge myself to save somewhere between 50-60% of my income every month. More if possible, but for now, I need to be realistic. Some big bills are coming up in a month or two: property taxes, a plumber for the bathtub which sounds like a water hammer issue and the trip I’m taking this summer.
One thing I’ve thought about lately, or should I say missing, is life before all this worthless technology, like social media. It was nice to sit on the train and read a book without some moron shouting in their phone about how their man knocked some other lady up. Does everyone really need to hear your personal business? When has that become acceptable? I miss the quiet of the “old days”. I also miss the days where I could walk down the street and not have to dodge multiple morons who are texting and playing games on their cell phones. I’ve started not moving for them, because it’s truly getting to be a public nuisance! Maybe I have “cell phone rage”? Is that’s what’s wrong with me? The other thing that irritates me in American society is that everything, and I mean everything , has to have a label. I wonder if this has to do with the marketing of every little thing in consumer culture. Okay, rant over…
I’m still debating my options:
1. I found out, though I need to confirm this with HR, that after 5 years, one is vested in the retirement plan, and will get the full pension averaged over the pay over years of service when one hits 65. If that is the case, I have a little over 2 years left. The pension would be worth about $38k/per year.
2. Do I look for a new job, with about the same pay, which may or may not have a pension, but would be less stressful and would give me more of my time back? While the new place may have a pension, I would be starting from the bottom up again. (I have had an interview and it looks promising.)
3. I’m wondering if I just hate working in general and that’s the main issue here. I think to go to a new job, but it’s the same issue for me. I have to get up too early, sit at a tiny desk for hours on end, be told when I can leave and eat lunch on someone else’s schedule. Not to mention boring, unchallenging work which usually ends in the end leads to absolutely nothing.
4. I would eventually hit $100k by the 2020s based on an increase averaging 3%/per year. My guess is that they would cap my salary, give me an extra week of vacation or force me to become a supervisor at that rate.
I would love to hear thoughts on this and what everyone thinks about them.
Other thoughts:
1. I also believe I will take my father’s offer to take his old car once mine goes kaput. If I have to stay here in my condo for a little while longer and park my car on the street, there is no reason to get anything fancy.
2. I really want to write at least one book in my lifetime.
3. While thinking about law school this past month, I decided to learn a bit on the side and went to a law library and learned to look up cases for reference in the various books. It’s nice that the law libraries are open for the public’s use.
My goals for the next couple of months are:
• Identify a rental property to purchase before the end of the year.
• Buy a few over-the-counter tax sell land plots and resell them.
What’s really helped as I soon approach my one year here, is tracking all my expenses and putting them in categories. I know exactly what to look for now and where I’m “out of control”. I can feel I’m going to get better and better with every passing month. Sure, it’s taking me some time to get a grip on spending, but it’s better late than never, or so they say.
I know this has certainly turned into a long post. I actually write this post all month long as different thoughts about ERE, FI, my finances/plans and the economy in general come to me.
Re: inchicago's journal
For those that attended the last Chicago meetup, most of this update you already know, although I threw in a couple of new things for your reading pleasure.
My savings rate for the month of June was 36%. I still have some work to do, but hey, it gets better and better. (I’m not counting my 401k of 9% in my calculation.)
One thing we did this month was starting making our own homemade pizza. We only order pizza maybe every couple of months. This will be a nice treat for the weekends. We can always watch a movie at home, too. I’m unfortunately still struggling with the eating out thing, but I’m getting more and more in the right mindset and figuring out how I can bring things to work. One thing I just started a little over a week ago was cutting out all tea lattes. Yes, I know I said I was going to do it before, but I realized all that sugar was causing me to be tired all the time, and in general just feel terrible. Since it’s the summer, I can get tons of fresh fruits and vegetables must cheaper that out of season and have been making my own juices at home which has helped with cutting down on the tea lattes. Once I’m out of the habit, I won’t need to go back to it.
I read an article earlier this month which broke down Americans biggest spending waste: http://www.cheatsheet.com/money-career/ ... yptr=yahoo
Guilty as charged! However, my really sticking to my meal plan and only buying groceries on the plan, we have cut the waste almost down to 0. I can remember only a year ago throwing at least 30% of groceries out every week. (I know that is really horrible.)
Another thing I did this month was make my own deodorant with baking soda and lavender essential oil. I’ve done this in the past, and made a huge batch. Considering the place I usually buy it from charge $14/plus tax, over a year, I should save almost $60. Not a ton of money, but every little bit helps. Remember: baby steps first.
Here are the skills that I am learning in the very near future:
• Homemade pizza (accomplished)
• How to put air in my tires
• How to change the oil in my car
• How to unclog a sink
Baby steps first.
Additional kills to learn in the near future:
• Make my own kombucha.
• Soapmaking
• For fun, experiment with making some perfumes and colognes. (I’m not big on buying this item, but am curious on how to make it. It doesn’t seem too hard according to a magazine that I have.)
I made myself a list of all the items I’d like to be doing and yes, they were all items I could do at home for no cost. I’ve made a list and hung it where it can be seen to remind me.
One of the really big things I did this month was delete my Instagram account. I have been wasting way too much time on it. Plus, Instagram has changed its lame rules to even more lame rules and not allowing the sites to show you who unfollowed you. I don’t have the time to manually do that, so good-bye and good riddance!
I also cancelled my overseas trip which would have cost us together a total of $7,500 for two weeks. This was the hardest thing I did, but I’ve contemplated on one of Jacob’s posts about just collecting trips. Is that what I’m really doing vs. collecting things? I’d like to think not, but I have a whole list of things I want to see. But I can see those things on YouTube, in magazines, through books. I won’t stop traveling, but I need to be a more mindful traveler, not just traveling to mark it off a list and say I’ve been there.
I calculated my FI age to be 53 and $350,000 at that age. That will not include any sort of retirement assets such as 401ks, my primary residence, etc. This will be purely in cash and investing accounts. If I get some real estate investments, etc., I can raise the $350k substantially. Right now, I’m at 6% of the way there. That’s okay. That’s going to keep growing. Just look at my mindset changes recently! If thing progress how I would like them to, I will be way over the $750k mark at the age of 53, but I’ve got to get moving in terms of sticking to my savings plan and coming up with additional ways of earning money (real estate, side business(es), etc.) I I’ve decided to stop wasting time searching for a new job. After three interviews, and being in to the top 2 or 3 each time, with no offer, I feel that I should just stick to what I know. I don’t like what I know but I feel like this is going to force me to stick to my plans and put extra effort into them because I know that I don’t like my current situation. I also know that I’m going to be able to collect a very nice pension when I’m official retirement age if I stick it out. (At age 53, I qualify for the full pension.)
Other thoughts:
1. The three most important things in life for me right now are: eating right, exercising and saving money.
2. I’ve decided not to go to law school. At almost 40, what’s the point? Plus, I make a ton more than most lawyers starting out.
3. I really, really want out of Chicago. The crime, the high taxes, the cramped living quarters and no parking space. I’m ready to be out of it. However, since I need to stay at my current job for 12.5 more years, I will be stuck here for a while.
4. After early retirement, we are considering moving overseas for part of the year (during the spring, summer and early fall) during retirement for the healthcare and a change of scenery and living in the south of the U.S. where it’s warmer during the winter months.
5. I’ve been searching for a rental property but have come to the conclusion that everything in my area is way overpriced so I’ll wait this out and will have much more cash on hand when the opportunity to buy is right.
6. Since beginning “Jacob’s program”, I feel so much better about my life. Like there is some hope for the 9-5. (Ha! Don’t I wish it were 9-5!) It’s one of the first times I hadn’t had to “borrow” from my savings account to pay for my property taxes or household maintenance. And I even have a little left over. Simply amazing…
7. I’m really looking forward to my husband graduating college in the next year and a half. It will be nice to finally share the bills. Think of all the money I can save then!
8. When I first starting looking into this ERE stuff, I thought that everyone would be big cheapskates and boring, etc., but when I met them in real life, it was the total opposite. They have all been full of interesting stories and generous with their time, knowledge and goods.
My goals for the next couple of months are:
1. Continue working on implementing my plan for additional income through real estate.
2. Begin reading investment books.
3. Explore additional ways to invest in paper assets, real estate, start a mini business or two and up my savings.
4. Begin writing a book.
5. Finish my ancestry research project.
6. Exercise more.
7. My biggest goal is to get my eating out spending down, down, down…I realize that when I eat out, I usually don’t feel that great-too much salt, too much sugar, etc. in those things so to make myself feel healthier, this will be a good incentive to stop eating out. I’m looking at cutting down $100-$200 next month with cutting out the tea lattes. Plus, the juices I have been drinking make me feel so much better and energetic. I once went on a 7-day juice fast and I have never felt better. I’d love to be able to make it to 90 days sometime in the near future.
8. I also want to get my grocery bill down to $200/per month. Without eating out, I’m guessing this will be closer to $300/per month, but considering with groceries and eating out together, I’ve been spending close to $800/per month. Yes, I know. That has got to stop. I’m getting there, however slowly.
I’m looking forward to a few days off in July that I don’t need to worry about going into work. July and August are always months filled with expenses, like property taxes, house insurance, car sticker, etc. Plus there is some home maintenance I need to get done.
Until next month.
My savings rate for the month of June was 36%. I still have some work to do, but hey, it gets better and better. (I’m not counting my 401k of 9% in my calculation.)
One thing we did this month was starting making our own homemade pizza. We only order pizza maybe every couple of months. This will be a nice treat for the weekends. We can always watch a movie at home, too. I’m unfortunately still struggling with the eating out thing, but I’m getting more and more in the right mindset and figuring out how I can bring things to work. One thing I just started a little over a week ago was cutting out all tea lattes. Yes, I know I said I was going to do it before, but I realized all that sugar was causing me to be tired all the time, and in general just feel terrible. Since it’s the summer, I can get tons of fresh fruits and vegetables must cheaper that out of season and have been making my own juices at home which has helped with cutting down on the tea lattes. Once I’m out of the habit, I won’t need to go back to it.
I read an article earlier this month which broke down Americans biggest spending waste: http://www.cheatsheet.com/money-career/ ... yptr=yahoo
Guilty as charged! However, my really sticking to my meal plan and only buying groceries on the plan, we have cut the waste almost down to 0. I can remember only a year ago throwing at least 30% of groceries out every week. (I know that is really horrible.)
Another thing I did this month was make my own deodorant with baking soda and lavender essential oil. I’ve done this in the past, and made a huge batch. Considering the place I usually buy it from charge $14/plus tax, over a year, I should save almost $60. Not a ton of money, but every little bit helps. Remember: baby steps first.
Here are the skills that I am learning in the very near future:
• Homemade pizza (accomplished)
• How to put air in my tires
• How to change the oil in my car
• How to unclog a sink
Baby steps first.
Additional kills to learn in the near future:
• Make my own kombucha.
• Soapmaking
• For fun, experiment with making some perfumes and colognes. (I’m not big on buying this item, but am curious on how to make it. It doesn’t seem too hard according to a magazine that I have.)
I made myself a list of all the items I’d like to be doing and yes, they were all items I could do at home for no cost. I’ve made a list and hung it where it can be seen to remind me.
One of the really big things I did this month was delete my Instagram account. I have been wasting way too much time on it. Plus, Instagram has changed its lame rules to even more lame rules and not allowing the sites to show you who unfollowed you. I don’t have the time to manually do that, so good-bye and good riddance!
I also cancelled my overseas trip which would have cost us together a total of $7,500 for two weeks. This was the hardest thing I did, but I’ve contemplated on one of Jacob’s posts about just collecting trips. Is that what I’m really doing vs. collecting things? I’d like to think not, but I have a whole list of things I want to see. But I can see those things on YouTube, in magazines, through books. I won’t stop traveling, but I need to be a more mindful traveler, not just traveling to mark it off a list and say I’ve been there.
I calculated my FI age to be 53 and $350,000 at that age. That will not include any sort of retirement assets such as 401ks, my primary residence, etc. This will be purely in cash and investing accounts. If I get some real estate investments, etc., I can raise the $350k substantially. Right now, I’m at 6% of the way there. That’s okay. That’s going to keep growing. Just look at my mindset changes recently! If thing progress how I would like them to, I will be way over the $750k mark at the age of 53, but I’ve got to get moving in terms of sticking to my savings plan and coming up with additional ways of earning money (real estate, side business(es), etc.) I I’ve decided to stop wasting time searching for a new job. After three interviews, and being in to the top 2 or 3 each time, with no offer, I feel that I should just stick to what I know. I don’t like what I know but I feel like this is going to force me to stick to my plans and put extra effort into them because I know that I don’t like my current situation. I also know that I’m going to be able to collect a very nice pension when I’m official retirement age if I stick it out. (At age 53, I qualify for the full pension.)
Other thoughts:
1. The three most important things in life for me right now are: eating right, exercising and saving money.
2. I’ve decided not to go to law school. At almost 40, what’s the point? Plus, I make a ton more than most lawyers starting out.
3. I really, really want out of Chicago. The crime, the high taxes, the cramped living quarters and no parking space. I’m ready to be out of it. However, since I need to stay at my current job for 12.5 more years, I will be stuck here for a while.
4. After early retirement, we are considering moving overseas for part of the year (during the spring, summer and early fall) during retirement for the healthcare and a change of scenery and living in the south of the U.S. where it’s warmer during the winter months.
5. I’ve been searching for a rental property but have come to the conclusion that everything in my area is way overpriced so I’ll wait this out and will have much more cash on hand when the opportunity to buy is right.
6. Since beginning “Jacob’s program”, I feel so much better about my life. Like there is some hope for the 9-5. (Ha! Don’t I wish it were 9-5!) It’s one of the first times I hadn’t had to “borrow” from my savings account to pay for my property taxes or household maintenance. And I even have a little left over. Simply amazing…
7. I’m really looking forward to my husband graduating college in the next year and a half. It will be nice to finally share the bills. Think of all the money I can save then!
8. When I first starting looking into this ERE stuff, I thought that everyone would be big cheapskates and boring, etc., but when I met them in real life, it was the total opposite. They have all been full of interesting stories and generous with their time, knowledge and goods.
My goals for the next couple of months are:
1. Continue working on implementing my plan for additional income through real estate.
2. Begin reading investment books.
3. Explore additional ways to invest in paper assets, real estate, start a mini business or two and up my savings.
4. Begin writing a book.
5. Finish my ancestry research project.
6. Exercise more.
7. My biggest goal is to get my eating out spending down, down, down…I realize that when I eat out, I usually don’t feel that great-too much salt, too much sugar, etc. in those things so to make myself feel healthier, this will be a good incentive to stop eating out. I’m looking at cutting down $100-$200 next month with cutting out the tea lattes. Plus, the juices I have been drinking make me feel so much better and energetic. I once went on a 7-day juice fast and I have never felt better. I’d love to be able to make it to 90 days sometime in the near future.
8. I also want to get my grocery bill down to $200/per month. Without eating out, I’m guessing this will be closer to $300/per month, but considering with groceries and eating out together, I’ve been spending close to $800/per month. Yes, I know. That has got to stop. I’m getting there, however slowly.
I’m looking forward to a few days off in July that I don’t need to worry about going into work. July and August are always months filled with expenses, like property taxes, house insurance, car sticker, etc. Plus there is some home maintenance I need to get done.
Until next month.
Re: inchicago's journal
Interesting journal. Some thoughts:
Have you tried making your own tea from a high quality loose leaf? There's a little art to getting the brewing temp and time just right, but it opens a broad world of options to you. They are inexpensive compared to buying a drink somewhere, healthy, offer a broad range of options to entertain the palate (with no calories) and still offer the caffeine to help manage energy swings. Most "regular" tea becomes a sacrifice, something to suffer through, once you've had the good stuff.
I went down the pizza making path a few years ago. I found a pizza stone makes all the difference. My wife now prefers something we make at home to delivery. We've gotten pretty lazy about this - dough ball from trader joes, jarred sauce from Meijer, parchment paper to make it easy to work with the dough. I do still shred a combination of mozzarella and parmesan from blocks though, because the cellulose in the bagged cheese seemed to mess with browning. It's a great option, and with the Trader Joes dough ball, takes about the same time as frozen. I've found the ability to vary cheese combinations a lot of fun. It's also a good, cheap "couples" event, especially with a peel and the stone. Everyone feels fancy and has something to brag about at work. Oh, and hey - you could make a vegan pizza.
I've been grooming my cat for 5 years. This didn't start to save money, but instead because she came home from the groomer with bloody nipples. That made me realize what a terrifying experience it must be for her. I ordered a pair of professional clippers (required for fur, IMO) from Amazon the next day. They were about $130, but I've easily saved at least $600 in grooming fees. The cat is also happier - we had to pay the extra fee for a second person to hold her down... that should have been the only clue I needed.
The point I really wanted to make - as you transition from a consumer to a producer, you'll find it isn't just about saving money. As you develop skills, you end up with superior experiences. The changes persist, not because they are cheaper, but because going back to the consumer lifestyle just isn't as good. Buying other people's inferior result at inflated prices feels like a sacrifice. Saving the money becomes secondary. It's cool to see that happening in your journal.
Have you tried making your own tea from a high quality loose leaf? There's a little art to getting the brewing temp and time just right, but it opens a broad world of options to you. They are inexpensive compared to buying a drink somewhere, healthy, offer a broad range of options to entertain the palate (with no calories) and still offer the caffeine to help manage energy swings. Most "regular" tea becomes a sacrifice, something to suffer through, once you've had the good stuff.
I went down the pizza making path a few years ago. I found a pizza stone makes all the difference. My wife now prefers something we make at home to delivery. We've gotten pretty lazy about this - dough ball from trader joes, jarred sauce from Meijer, parchment paper to make it easy to work with the dough. I do still shred a combination of mozzarella and parmesan from blocks though, because the cellulose in the bagged cheese seemed to mess with browning. It's a great option, and with the Trader Joes dough ball, takes about the same time as frozen. I've found the ability to vary cheese combinations a lot of fun. It's also a good, cheap "couples" event, especially with a peel and the stone. Everyone feels fancy and has something to brag about at work. Oh, and hey - you could make a vegan pizza.
I've been grooming my cat for 5 years. This didn't start to save money, but instead because she came home from the groomer with bloody nipples. That made me realize what a terrifying experience it must be for her. I ordered a pair of professional clippers (required for fur, IMO) from Amazon the next day. They were about $130, but I've easily saved at least $600 in grooming fees. The cat is also happier - we had to pay the extra fee for a second person to hold her down... that should have been the only clue I needed.
The point I really wanted to make - as you transition from a consumer to a producer, you'll find it isn't just about saving money. As you develop skills, you end up with superior experiences. The changes persist, not because they are cheaper, but because going back to the consumer lifestyle just isn't as good. Buying other people's inferior result at inflated prices feels like a sacrifice. Saving the money becomes secondary. It's cool to see that happening in your journal.
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Miss Lonelyhearts
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Re: inchicago's journal
Interesting update! It sounds like you're making a great deal of progress, so if I were to recommend anything it would be to be a bit easier on yourself. Your spending/savings rates are diverging and would form a nice "X" on a graph, so if tea lattes are currently necessary to your overall happiness, I'd pay the money. Alternatively, Scott's advice seems quite good. And I have a couple friends who've had success brewing kombucha, so that could be a great substitute as well.
I've also spent a lot of money on going out to eat, some of which I regret, and some of which I enjoyed. My general philosophy has been to try to reduce the former and increase the latter. Sometimes, when trying to get myself to eat at home more, my philosophy has been to give myself carte blanche at the grocery store and buy whatever appeals on the theory that groceries are invariably cheaper than restaurants (the only store where this probably won't work is Whole Foods!). Once I'm shopping the abundance of potential good deals and wholesome eating seems to trigger a reflex that prevents sheer depravity while also allowing for enough indulgence-type items that I'm satisifed. E.g., I would never or very rarely order cheese at a restaurant, but often get a block at the store and always enjoy it.
I can definitely relate to your weariness over the violence, crowds, expense, traffic, parking hassles, urban alienation, etc etc. of living in Chicago. On the flip side I take for granted for the diversity of interesting people, good restaurants, cultural resources, natural beauty, and reliable public transit, which collectively seem difficult to find/afford elsewhere in the US. And of course the job opportunities while working are quite good. Earlier you mentioned moving to the suburbs--is that still a possibility? That or a new neighborhood might help if you can make it work w/r/t the condo. Exploring new areas of the city is the main part of my plan for shaking off civic malaise.
Sorry to hear about your trip, although saving $7500 is pretty sweet! If this was the trip to Israel, is there anyway of doing it cheaper via kibbutz or something? Or taking a cheaper trip within the US or Mexico? Historically I'm kind of anti-travel along the lines of Jacob's post you mentioned, but in the past year I've taken some really good trips and enjoyed them, all domestic though. Perhaps it's something that changes.
I've also spent a lot of money on going out to eat, some of which I regret, and some of which I enjoyed. My general philosophy has been to try to reduce the former and increase the latter. Sometimes, when trying to get myself to eat at home more, my philosophy has been to give myself carte blanche at the grocery store and buy whatever appeals on the theory that groceries are invariably cheaper than restaurants (the only store where this probably won't work is Whole Foods!). Once I'm shopping the abundance of potential good deals and wholesome eating seems to trigger a reflex that prevents sheer depravity while also allowing for enough indulgence-type items that I'm satisifed. E.g., I would never or very rarely order cheese at a restaurant, but often get a block at the store and always enjoy it.
I can definitely relate to your weariness over the violence, crowds, expense, traffic, parking hassles, urban alienation, etc etc. of living in Chicago. On the flip side I take for granted for the diversity of interesting people, good restaurants, cultural resources, natural beauty, and reliable public transit, which collectively seem difficult to find/afford elsewhere in the US. And of course the job opportunities while working are quite good. Earlier you mentioned moving to the suburbs--is that still a possibility? That or a new neighborhood might help if you can make it work w/r/t the condo. Exploring new areas of the city is the main part of my plan for shaking off civic malaise.
Sorry to hear about your trip, although saving $7500 is pretty sweet! If this was the trip to Israel, is there anyway of doing it cheaper via kibbutz or something? Or taking a cheaper trip within the US or Mexico? Historically I'm kind of anti-travel along the lines of Jacob's post you mentioned, but in the past year I've taken some really good trips and enjoyed them, all domestic though. Perhaps it's something that changes.
Indeed, I still have to read the books you gave away at the winter meetup!They have all been full of interesting stories and generous with their time, knowledge and goods.
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jacob
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Re: inchicago's journal
* You can put air in your tires with a bicycle pump (auto-valve). It's not a killer workout but it does take 10-20 mins. I got a pump. Come on over, you get to pump. The rest of us get to point and laugh ... Okay, I'll take turns too, and then the SOs can point and laugh.
* You can come visit us and have my neighbour change your oil in the mean time---that's what we do. He'll charge you a bit more, but I think the $5 extra over the DIY option is worth it to establish a good relationship with a trusty mechanic. I suspect he's saved us at least 25-50% compared to going elsewhere and getting ripped off for other things. E.g. our car sounded like an "unlubricated sewing machine" to the point when people were shouting "get your oil changed" at us on the street. Turned out it was a spark plug and a new catalysator. Cost about $250 total. A random garage was happy to remove the engine for $1500 to "take a look at it" (Outbacks have some weird unserviceable engine configuration which requires extra labor. ARGH!) OTOH, changing oil is not that hard. However, you do need equipment (jack, jack stands, oil pan) which will take a few years to amortize if you're not doing any other kind of car work. If so desired, I got those in my garage ... not using them anymore, because of the above. If you want them, maybe we can trade?
... PS: FWIW, I've decided to punt on car skills, because I hate cars. And my justification is that I use ignorance to build social capital, so there. Of course, THAT is a very very slippery slope.
* In terms of DIY soap do you mean rendering your own lard and making lye out of woodash or just reforming existing soap into scented soap? Industrial soap is so cheap that the former is so not worth it. It's pretty exciting though. But only do it for badass points. Incidentally, should you be interested in badass points ... I once again extend a personal invitation. Bring some fat (freeze the cut offs from whatever steaks, chicken, and when you got a couple of pounds, in the freezer, we're in business)... I'll supply the wood ashes or toilet cleaner (NaOH). If you're interested in the second option, talk to DW, but leave me out of it. I need to preserve my image ... which is about to get destroyed considering the following:
* In terms of deodorant, this might be TMI, but taking an applied lesson from the ancient Egyptians, I've solved the stink problem by shaving my armpits and using bar soap to kill the bacteria while showering. Smells come from bacteria eating "sweat or whatever" that doesn't stink on its own, so remove/kill the bacteria and there's no smell. Science wins again. The bacteria mainly live on the hairs. The soap kills the rest. So remove most of the hair and use soap daily. Problem thus solved with engineering. PS: In case any guys feel that their manly manliness is threatened by shaving beyond the face, realize that you only need to do it once a month; you only need to do a half-assed job (think S-curve); and you can use a straight razor for extra danger because you just might kill yourself cutting a major artery... although I suppose the coronary report will make for bizarre reading. In any case, the stink is proportional to the amount of hair divided by your use of soap, so, I leave this optimization as an exercise for the reader.
... Okay, I'll take turns too, and then the SOs can point and laugh. * You can come visit us and have my neighbour change your oil in the mean time---that's what we do. He'll charge you a bit more, but I think the $5 extra over the DIY option is worth it to establish a good relationship with a trusty mechanic. I suspect he's saved us at least 25-50% compared to going elsewhere and getting ripped off for other things. E.g. our car sounded like an "unlubricated sewing machine" to the point when people were shouting "get your oil changed" at us on the street. Turned out it was a spark plug and a new catalysator. Cost about $250 total. A random garage was happy to remove the engine for $1500 to "take a look at it" (Outbacks have some weird unserviceable engine configuration which requires extra labor. ARGH!) OTOH, changing oil is not that hard. However, you do need equipment (jack, jack stands, oil pan) which will take a few years to amortize if you're not doing any other kind of car work. If so desired, I got those in my garage ... not using them anymore, because of the above. If you want them, maybe we can trade?
... PS: FWIW, I've decided to punt on car skills, because I hate cars. And my justification is that I use ignorance to build social capital, so there. Of course, THAT is a very very slippery slope. * In terms of DIY soap do you mean rendering your own lard and making lye out of woodash or just reforming existing soap into scented soap? Industrial soap is so cheap that the former is so not worth it. It's pretty exciting though. But only do it for badass points. Incidentally, should you be interested in badass points ... I once again extend a personal invitation. Bring some fat (freeze the cut offs from whatever steaks, chicken, and when you got a couple of pounds, in the freezer, we're in business)... I'll supply the wood ashes or toilet cleaner (NaOH). If you're interested in the second option, talk to DW, but leave me out of it. I need to preserve my image ... which is about to get destroyed considering the following:
* In terms of deodorant, this might be TMI, but taking an applied lesson from the ancient Egyptians, I've solved the stink problem by shaving my armpits and using bar soap to kill the bacteria while showering. Smells come from bacteria eating "sweat or whatever" that doesn't stink on its own, so remove/kill the bacteria and there's no smell. Science wins again. The bacteria mainly live on the hairs. The soap kills the rest. So remove most of the hair and use soap daily. Problem thus solved with engineering. PS: In case any guys feel that their manly manliness is threatened by shaving beyond the face, realize that you only need to do it once a month; you only need to do a half-assed job (think S-curve); and you can use a straight razor for extra danger because you just might kill yourself cutting a major artery... although I suppose the coronary report will make for bizarre reading. In any case, the stink is proportional to the amount of hair divided by your use of soap, so, I leave this optimization as an exercise for the reader.
Re: inchicago's journal
Thanks scott2 for all the good ideas. I used to have a pizza stone, which was a gift, but when I needed to move, I only had room for so much so the pizza stone didn’t make it. I’m looking at a nice cast iron one which I will request as a Christmas gift. I feel very sorry for your cat! Although, I’m glad you were able to take over and make it work. Cats hate being outside their environment (usually) and so it’s far better for the cat and you if you can take over grooming. My dog doesn’t like the groomer because there are so many big dogs and it scares her. When I was younger, I always made my own stuff. I lived in a small town and my father was not a big spender so I made do with what I had. I was fine when I moved to Chicago, but I guess my (first) SGO’s habits rubbed off on me and I’m slowly trying to get back to where I was. It is true that there are many things I’d rather make myself. And there are some things that I cannot, like if I want a wood-fired pizza, I’d need to go somewhere to get that. A regular pizza, I could definitely just make at home. I do have a lot of fancy teas here and should experiment with them more. I bought a tea sampler when I was in Belgium a couple of years ago so I should start there.
Thanks for the encouragement MissLonelyhearts! It’s slow going, but I’m definitely feeling the difference especially when I didn’t even need to tap into my savings to pay the property taxes this month. (Of course, that will make my savings rate a bit lower this month.) I really like having less stuff. I am a shopper at Whole Foods, but that is because I need to get specific items to make things gluten-free. The majority of my fruits and vegetables are bought at the neighborhood grocery store, which are a fraction of the price at the big chain stores. So I do treat myself at Whole Foods sometimes and this contributes to a higher grocery bill, but I’m a bit picky at times and want to watch my health and be sure I’m getting the best (and tastiest) I can. I like the cheese basket that Whole Foods has that contains the last of a block of cheese. These are cheap and contain just the right amount for a dish or two and we get to try lots of different cheeses that we would never pay full price for. I’m sure I’ll have some more books by next meetup. I’m big on non-fiction and travel books. The fiction books were my attempt to join a book club to expand my mind. Some things happened with my husband’s grant for school which made the $7500 impossible when I looked at my budget. As compensation, we are looking at 4-5 days in New Mexico which will be under $1000 for both of us. While I would love to travel internationally, it’s expensive and I’m not a big fan of everything that has been going on around the world so for now, its fine to explore America. My grandmother always said that there are several beautiful and wonderful places to see in the U.S. and so that is where my grandparents traveled. New Mexico is certainly something I can’t see in my backyard. The trip to Israel was structured and would include working on an archaeological dig for two weeks, staying in a kibbutz and tours on the weekend. The dig is something I have always wanted to do but my co-workers told me about several in the U.S. that I may check out in the future. And I know I promised some graphs. I’ll try and get those done for the August update for a mid-year review. 
Jacob your post really made me laugh. I’m going to run your idea for non-stinking to my husband and see if he will adopt it.
He has a lot of “great ideas” for those extreme, extreme savers so if you would like a guest blog post (that’s more humorous than realistic, although these ideas can be done) you just let me know. My friend bought one of those do-it-yourself air pumps and oh my, the neighbors were laughing! I however didn’t find it that funny since I was helping him and felt kind of dumb but after 30 minutes or so we managed to get the tire up-to-speed. An interesting little story about the soap: When I had to rent for a couple of years, I got an idea to make soap and apparently so did my landlord, although neither of knew about the other’s interest in making soap. When we found out, I should have taken her offer to practicing making soap as she started a business and now spends half her time in Jamaica and the other half in Chicago. Sigh. 
I’d like to start out with cold-process soap. Right now, I’m paying between $6-$8 a bar from a small producer which I purchase online. I’m allergic to most of the soaps at the store. Each bar I buy from them lasts me about a month between the two of us. I am willing to make the soap from scratch the old-fashioned way because that’s kind of cool so if you set up a get together for this, I’m in. Making candles the old-fashioned way is also a want. Yesterday, I had to take the emissions test for my car and I told myself it fails, I will replace the car (it’s 18 years old). However, it did not fail! Will it make it to 20? Probably not, but never say never. I like that your neighbor can help you out. I guess it helps him out, too, since it’s a little extra money on the side. I may take you up on this offer. The changing the oil thing is something to learn, but in the future. Right now, I have to start with the basics and build up over time.
An idea that came to me this weekend was making a small arts/crafts business out of old maps. That fulfills three needs for me: old maps, traveling, and creativity. I’m going to ask my parents to pick up the old maps they find at thrift stores and see what I can make out of it. More for fun, but great if I make a few sales. My job is really getting to me, and I need some outlet.
Thanks for the encouragement MissLonelyhearts!
It’s slow going, but I’m definitely feeling the difference especially when I didn’t even need to tap into my savings to pay the property taxes this month. (Of course, that will make my savings rate a bit lower this month.) I really like having less stuff. I am a shopper at Whole Foods, but that is because I need to get specific items to make things gluten-free. The majority of my fruits and vegetables are bought at the neighborhood grocery store, which are a fraction of the price at the big chain stores. So I do treat myself at Whole Foods sometimes and this contributes to a higher grocery bill, but I’m a bit picky at times and want to watch my health and be sure I’m getting the best (and tastiest) I can. I like the cheese basket that Whole Foods has that contains the last of a block of cheese. These are cheap and contain just the right amount for a dish or two and we get to try lots of different cheeses that we would never pay full price for. I’m sure I’ll have some more books by next meetup. I’m big on non-fiction and travel books. The fiction books were my attempt to join a book club to expand my mind. Some things happened with my husband’s grant for school which made the $7500 impossible when I looked at my budget. As compensation, we are looking at 4-5 days in New Mexico which will be under $1000 for both of us. While I would love to travel internationally, it’s expensive and I’m not a big fan of everything that has been going on around the world so for now, its fine to explore America. My grandmother always said that there are several beautiful and wonderful places to see in the U.S. and so that is where my grandparents traveled. New Mexico is certainly something I can’t see in my backyard. The trip to Israel was structured and would include working on an archaeological dig for two weeks, staying in a kibbutz and tours on the weekend. The dig is something I have always wanted to do but my co-workers told me about several in the U.S. that I may check out in the future. And I know I promised some graphs. I’ll try and get those done for the August update for a mid-year review. Jacob your post really made me laugh. I’m going to run your idea for non-stinking to my husband and see if he will adopt it.
He has a lot of “great ideas” for those extreme, extreme savers so if you would like a guest blog post (that’s more humorous than realistic, although these ideas can be done) you just let me know. My friend bought one of those do-it-yourself air pumps and oh my, the neighbors were laughing! I however didn’t find it that funny since I was helping him and felt kind of dumb but after 30 minutes or so we managed to get the tire up-to-speed. An interesting little story about the soap: When I had to rent for a couple of years, I got an idea to make soap and apparently so did my landlord, although neither of knew about the other’s interest in making soap. When we found out, I should have taken her offer to practicing making soap as she started a business and now spends half her time in Jamaica and the other half in Chicago. Sigh. I’d like to start out with cold-process soap. Right now, I’m paying between $6-$8 a bar from a small producer which I purchase online. I’m allergic to most of the soaps at the store. Each bar I buy from them lasts me about a month between the two of us. I am willing to make the soap from scratch the old-fashioned way because that’s kind of cool so if you set up a get together for this, I’m in. Making candles the old-fashioned way is also a want. Yesterday, I had to take the emissions test for my car and I told myself it fails, I will replace the car (it’s 18 years old). However, it did not fail! Will it make it to 20? Probably not, but never say never. I like that your neighbor can help you out. I guess it helps him out, too, since it’s a little extra money on the side. I may take you up on this offer. The changing the oil thing is something to learn, but in the future. Right now, I have to start with the basics and build up over time.An idea that came to me this weekend was making a small arts/crafts business out of old maps. That fulfills three needs for me: old maps, traveling, and creativity. I’m going to ask my parents to pick up the old maps they find at thrift stores and see what I can make out of it. More for fun, but great if I make a few sales. My job is really getting to me, and I need some outlet.