Living on a Budget

Eltargrim · 09-02-2010, 12:32 AM

So, for the first time in a long time, I'm unemployed and living off of savings. This is not a problem. The problem is that I haven't not had a steady income in a very long time, and I've never really had to watch how much I spent.

I'm basically looking for some advice as to how to stick to a budget. I've already made a spreadsheet for keeping track of where I'm at, and I spend most of my money using debit and credit, so that helps keep track of what I've spent money on.

And don't worry, I'm not going to starve/be homeless. Just need to adjust to a different financial reality.

tl;dr version: how do you stick to a budget?

**McTahr** · 09-02-2010, 01:17 AM

Not so much a budget guy myself, but I am horribly, horribly poor. (Not making rent this month poor!)

One trick I've heard good things about is not using cards. Seriously just draw out how much you should need for the week in cash, and don't let yourself spend any more than that. It's easy to get a soda or a snack or some fast food or something at the swipe of a card, but when you know you've gotta make it through the week on X amount of cash, you suddenly fuck around a lot less.

Small cost-cutting randomness:
Energy saving is a big thing. There's quite a few incorrect myths floating around about various electrical things that can cost you quite a bit. (e.g. Leaving your A/C on all day on low is not cheaper than just running it every once in a while(Actually math this one out to find idea usage, preferably. (wattage of A/C unit*hours ran/1000)*cost per kWh.) There is no notable "start-up surge" cost to light bulbs, computers, A/C units, or anything else that people say there are for. Turn it off when you aren't using it.)

Bargain shop for food. Only pretty prissy princesses need name brand cheese. (And vegans, for rice cheese! God fucking damn are my grocery bills stupid.)

Lukewarm/room temperature showers. Heating water costs money, and it's better than not showering. (Also, at lower temperatures you bust ass to get back out of the shower due to the cold, and save on water!)

Specterbane · 09-02-2010, 06:35 AM

McTahr's put some great advice up. I'll second living on cash only, keep all of your receipts and track those on your spreadsheet.

Same with buying the store brand. Also plan what you need before you go to the grocery store and only bring as much as you need for that. It saves to money and time cause you don't screw around thinking "Do I need this?" NO! Make a list, stick to it, always remember toilet paper.

I'll add a few things since your unemployed and I've been here for over a year after college now. When doing the job search, if a cover letter is something you'd generally do for a job you'd want then do it for every perspective job. Also try not to get discouraged if it takes a while, like I said I've been out for a year.

Another thing, take a break from working for a few weeks but keep up with the job search. After that get a part time job doing something that pays fairly well and is a regular pay check. It'll help keep you from draining your saving as quickly and keep you from getting bored out of your mind.

Final thing I've learned so far, find things that are free or VERY low cost to spend your free time on. I'm usually a lurker on here, but I've been a lot more active cause I'm not working all day and doing other stuff with my evening. I'd forgotten how much fun it was to get back on these forums, and it's FREE (aside from the cost of internet). But yeah, replay old games, reread old books, get a library card, learn the basics of a new language from a $20 book from Barns & Nobel. The key is to spend your time well and to enjoy it while you can, cause you'll probably have a lot of it soon.

I kinda rambled a bit, but I hope that helps.

Nikose Tyris · 09-02-2010, 06:36 AM

It is possible to live in a dollar a day (or better) for food. It's also an effective time to lose weight.

I reccommend both.

LordBalmung18 · 09-02-2010, 08:43 AM

Quote:

Originally Posted by Nikose Tyris

It is possible to live in a dollar a day (or better) for food. It's also an effective time to lose weight.

I reccommend both.

This is true, I'm doing that right now! 2 packs of ramen per day = 77 cents!

And ive dropped 30 pounds in the last month alone.

My advice as far as budgets go in addition to what has already been mentioned: Forgo pets until you have a steady income. Same goes for children but you might have less of a choice there <.<. Both are income eatting monsters that have some sort of goo constantly dripping from one end or the other.

Basically what im saying is as long as your single and unattached to any other object on the planet its entirely possible to live paying merely rent water and ramen bills. And maybe internet unless you feel like borrowing some wireless.

Magic_Marker · 09-02-2010, 08:47 AM

mint.com <====Look at that shit!

It's got bar graphs, pie graphs, and you can track how you spent you money for all of time!

Shit is real, man.

Krylo · 09-02-2010, 08:49 AM

'Borrowing' wifi.

Also, I've noticed the opposite with the money thing, personally. Vending machines are the bane of my pocket book if I have cash, 'cause it's so easy to justify a dollar or two here or there, and then you're spending twenty dollars a week.

But I've also heard using an envelope system with cash can be helpful and it makes sense to me. Basically put aside all your money for the month in envelopes marked Groceries, Rent, etc. and only touch that money for those things. And carry only a small amount of money with you at any given time. Enough to get a half tank of gas or whatever you figure is best for emergencies.

Also: Mooch. Mooching is the unemployed man's best friend.

Wigmund · 09-02-2010, 03:17 PM

I live off the guvmint.

Seriously, I'm currently living off of excess student loans during the school year and plan on applying for food stamps once summer rolls around.

And I also mooch off my folks for food. Stealing leftovers from your parents is an excellent way to live.

**McTahr** · 09-02-2010, 04:36 PM

Quote:

Originally Posted by Wigmund

And I also mooch off my folks for food. Stealing leftovers from your parents is an excellent way to live.

This. But for a lot of things. If you have to use coin-ops for laundry, and live near your folks, abuse their laundry facilities, even if you have your own set. (Saves on electric bills if nothing else.)

Of course this becomes less effective with greater drive times.

Other randoms:
Make friends with people who grow their own produce. I have a friend who practically throws fresh fruits and vegetables at me and my family because his family's garden just makes too much for them to use.

If you're schooling at all, attend the campus get-togethers. Free food is money in your pocket. Free entertainment venues are a night of not spending money.

Don't be afraid to dumpster dive if you're near a campus. Come mid-May, thousands of college students are trashing anything from appliances to bedding to furniture. (Just please please clean it before use, and no food, hobos gotta eat too.)

Nikose Tyris · 09-02-2010, 04:42 PM

dumpster-diving and sidewalk steals are how I furnished most of my apartment. Only rule is to never take a mattress or a bed. Too gross.

09-02-2010, 12:32 AM	#1
Eltargrim Fifty-Talents Haversham Join Date: Mar 2006 Location: FABULOUS Posts: 1,904	Living on a Budget So, for the first time in a long time, I'm unemployed and living off of savings. This is not a problem. The problem is that I haven't not had a steady income in a very long time, and I've never really had to watch how much I spent. I'm basically looking for some advice as to how to stick to a budget. I've already made a spreadsheet for keeping track of where I'm at, and I spend most of my money using debit and credit, so that helps keep track of what I've spent money on. And don't worry, I'm not going to starve/be homeless. Just need to adjust to a different financial reality. tl;dr version: how do you stick to a budget? __________________ <Insert witticism here; get credit; ???; profit!>

09-02-2010, 01:17 AM	#2
McTahr For the right price... Join Date: Sep 2006 Posts: 1,268	Not so much a budget guy myself, but I am horribly, horribly poor. (Not making rent this month poor!) One trick I've heard good things about is not using cards. Seriously just draw out how much you should need for the week in cash, and don't let yourself spend any more than that. It's easy to get a soda or a snack or some fast food or something at the swipe of a card, but when you know you've gotta make it through the week on X amount of cash, you suddenly fuck around a lot less. Small cost-cutting randomness: Energy saving is a big thing. There's quite a few incorrect myths floating around about various electrical things that can cost you quite a bit. (e.g. Leaving your A/C on all day on low is not cheaper than just running it every once in a while(Actually math this one out to find idea usage, preferably. (wattage of A/C unithours ran/1000)cost per kWh.) There is no notable "start-up surge" cost to light bulbs, computers, A/C units, or anything else that people say there are for. Turn it off when you aren't using it.) Bargain shop for food. Only pretty prissy princesses need name brand cheese. (And vegans, for rice cheese! God fucking damn are my grocery bills stupid.) Lukewarm/room temperature showers. Heating water costs money, and it's better than not showering. (Also, at lower temperatures you bust ass to get back out of the shower due to the cold, and save on water!) __________________ Gone.

09-02-2010, 08:49 AM	#7
Krylo The Straightest Shota Join Date: Nov 2003 Location: It's a secret to everybody. Posts: 17,789	'Borrowing' wifi. Also, I've noticed the opposite with the money thing, personally. Vending machines are the bane of my pocket book if I have cash, 'cause it's so easy to justify a dollar or two here or there, and then you're spending twenty dollars a week. But I've also heard using an envelope system with cash can be helpful and it makes sense to me. Basically put aside all your money for the month in envelopes marked Groceries, Rent, etc. and only touch that money for those things. And carry only a small amount of money with you at any given time. Enough to get a half tank of gas or whatever you figure is best for emergencies. Also: Mooch. Mooching is the unemployed man's best friend. __________________ I am very tired.

09-02-2010, 03:17 PM	#8
Wigmund Lakitu Join Date: Jul 2008 Location: Northwest Arkansas Posts: 2,139	I live off the guvmint. Seriously, I'm currently living off of excess student loans during the school year and plan on applying for food stamps once summer rolls around. And I also mooch off my folks for food. Stealing leftovers from your parents is an excellent way to live. __________________ Slightly off-kilter

Thread Tools
Show Printable Version Email this Page
Display Modes
Linear Mode Switch to Hybrid Mode Switch to Threaded Mode

09-02-2010, 06:35 AM	#3
Specterbane Safety First Join Date: Jul 2005 Location: Land of Gumdrops and Ice-cream Posts: 746	McTahr's put some great advice up. I'll second living on cash only, keep all of your receipts and track those on your spreadsheet. Same with buying the store brand. Also plan what you need before you go to the grocery store and only bring as much as you need for that. It saves to money and time cause you don't screw around thinking "Do I need this?" NO! Make a list, stick to it, always remember toilet paper. I'll add a few things since your unemployed and I've been here for over a year after college now. When doing the job search, if a cover letter is something you'd generally do for a job you'd want then do it for every perspective job. Also try not to get discouraged if it takes a while, like I said I've been out for a year. Another thing, take a break from working for a few weeks but keep up with the job search. After that get a part time job doing something that pays fairly well and is a regular pay check. It'll help keep you from draining your saving as quickly and keep you from getting bored out of your mind. Final thing I've learned so far, find things that are free or VERY low cost to spend your free time on. I'm usually a lurker on here, but I've been a lot more active cause I'm not working all day and doing other stuff with my evening. I'd forgotten how much fun it was to get back on these forums, and it's FREE (aside from the cost of internet). But yeah, replay old games, reread old books, get a library card, learn the basics of a new language from a $20 book from Barns & Nobel. The key is to spend your time well and to enjoy it while you can, cause you'll probably have a lot of it soon. I kinda rambled a bit, but I hope that helps.

09-02-2010, 08:47 AM	#6
Magic_Marker Moonwalk Away. Join Date: Nov 2007 Location: Dumbfucklahoma. Posts: 1,573	mint.com <====Look at that shit! It's got bar graphs, pie graphs, and you can track how you spent you money for all of time! Shit is real, man.