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1990Domer
Guest
I forgot to ask this…
What do people find to be their biggest money drain? Food, gas, entertainment, clothes?
What do people find to be their biggest money drain? Food, gas, entertainment, clothes?
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Xantippe
Guest
Also, beware subscriptions with auto-renewals.
I keep seeing good deals on magazines (say, $12 for a year) but then when you read the fine print, it auto-renews unless you cancel it.
I had a somewhat embarrassing experience with this in the past year. I signed up for an introductory three months with Weight Watchers for $70. I went maybe twice (I had overestimated the amount of time the mom of a 3-year-old has for this stuff). Somewhat later, my husband discovered by looking at our credit card bill that they’d been billing us for 8+ months at $44.95 a month.
I had had NO idea that it just started billing like that after the 3 months–as far as I was concerned, I was only signing up for 3 months.We got them to cough up 5 months of that, but it was a sobering experience. It’s made me much more wary of any subscription type service. It’s especially bad for something where you might not realize you’re signed up.
I’m signed up to Hulu (in order to watch Fixer Upper while I use an indoor bike) and that’s somewhat risky in terms of forgetting that I’m signed up with it, but I’ve marked in my calendar to cancel in a month. We’ll cancel if I’m not actually exercising but keep it if I’m biking. (I did 43 minutes of bike last night, which is a whole lotta recumbent bike.)
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Bonnie
Guest
Cars - that includes gas, maintenance, repairs, tires, & insurance. We have 2 & I’d like to get rid of one, but at the moment it’s not practical.
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Xantippe
Guest
Our biggest expenses are (in order of magnitude):
- school tuition for three kids
- mortgage/home insurance/property taxes (Texas property taxes are 2% and we have our home on a 20 year loan)
- grocery (I’m not an especially frugal grocery shopper and Baby Girl is still in pullups)
A peculiarity of our family budget is that those three items are all in the low four digits, whereas all other budget categories are three, two, or even one digit.
This is somewhat misleading because there are two months in the summer with much higher income, so things aren’t that tight on a yearly basis, but it is that high in a typical month. During the high pay months, we save for college and do some home projects–this year it’s mostly replacing a window, painting a room, and getting some IKEA furniture.
I wouldn’t recommend this kind of budget as a plan for normal families (as the fixed costs are too high), but we do have the possibility of cheap college for the kids, so it’s mostly just a question of getting through the next several years. There is a good chance that our school costs will actually drop during the college years if the kids go to Hometown U and are able to work a little. fingers crossed I’ve promised the kids that if they go to Hometown U, we’re going to Disneyland, and I’m not kidding.
The other peculiarity of our budget is that while the mortgage/insurance/tax payment is really big, the mortgage is on a 20 year term, it’s paying off briskly, and the mortgage balance is relatively small (we are approaching 50% equity). So, in the short term, it’s a pain, but long-term, I’m very optimistic.
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DarkLight
Guest
For my moving out budget:
Rent is the top expense, closely followed by medical.
Rent is the top expense, closely followed by medical.
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pensmama87
Guest
Ours is mortgage (which includes our property taxes). It used to be half our take home pay (which is a huge no-no, by the way.) It’s now about a quarter. We actually set aside about a third every month for non-routine expenses (Christmas, bulk food purchases, home improvements, car registration and insurance, etc). But that just gets moved to a separate account.
Groceries are really low for us, just because I haven’t lost the tightwad habits I picked up. But it has been creeping higher, because man, boys can eat.
(which is a huge no-no, by the way.) It’s now about a quarter. We actually set aside about a third every month for non-routine expenses (Christmas, bulk food purchases, home improvements, car registration and insurance, etc). But that just gets moved to a separate account.Groceries are really low for us, just because I haven’t lost the tightwad habits I picked up. But it has been creeping higher, because man, boys can eat.
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bitterhope
Guest
Just wait until your boys hit puberty…Ours is mortgage (which includes our property taxes). It used to be half our take home pay
Groceries are really low for us, just because I haven’t lost the tightwad habits I picked up. But it has been creeping higher, because man, boys can eat.
Ours change depending on where we happen to be living. I haven’t been here long enough to really know for sure what they will be over the next 3 or so years. Most places it seems to be housing and then food–in that order–but occasionally transportation has taken the top spot.
Most of our entertainment is free. We don’t pay for tv or movies, no Netflix or anything like that. We have a free TV we got from somebody that upgraded, use an antenna, and that’s it. We rent movies from the library. We hit the free family events and look for other free things to do with the kids. There are always tons of them.
We do hand me down clothes so we might end up spending $50-100 dollars a year replacing shoes or other worn out items each year, but some years our clothing costs are literally $0.00. If helps that I sew and crochet.
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DarkLight
Guest
Ugh, that’s the cost of losing weight. I can’t get my pants to stay up. Why don’t women’s dress pants come with belt loops?
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Xantippe
Guest
Woohoo!Ours is mortgage (which includes our property taxes).** It used to be half our take home pay
Groceries are really low for us, just because I haven’t lost the tightwad habits I picked up. But it has been creeping higher, because man, boys can eat.
We also even things out by treating yearly expenses as if they were monthly expenses and saving for expected emergencies (your car is going to have a $700 repair–it just is).
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Xantippe
Guest
Here’s another sadder-but-wiser story.
Years ago, we were doing a local move (from suburban MD to actual DC). The head moving guy asked if I wanted this or that wrapped in a blanket for the move.
Dear readers, it turned out that the blanket “rental” for each moving blanket was $20, and many of the pieces he was asking about were probably worth no more than $40 themselves.
It’s a little embarrassing, but try to ask, “is this extra?” in that sort of situation.
(Adding insult to injury, I see that it costs $12.99 to buy a similar moving blanket on Amazon. Wow!)
Years ago, we were doing a local move (from suburban MD to actual DC). The head moving guy asked if I wanted this or that wrapped in a blanket for the move.
Dear readers, it turned out that the blanket “rental” for each moving blanket was $20, and many of the pieces he was asking about were probably worth no more than $40 themselves.
It’s a little embarrassing, but try to ask, “is this extra?” in that sort of situation.
(Adding insult to injury, I see that it costs $12.99 to buy a similar moving blanket on Amazon. Wow!)
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bitterhope
Guest
One of the reasons we always move ourselves. Those hidden costs are outrageous. The Army sort of pays for a move with movers but they have a limit on what they can and can’t move, the amount they will move, and sometimes the movers aren’t trustworthy. Anything beyond what they will or can move, you have to pay for yourself, and many items get broken or “lost” along the way as well. Lots of hidden costs come up and to us it isn’t worth it so we always do a dity move (do it yourself move). That way the Army gives you a set amount of money depending on rank, distance of the move, and weight. We can pack ourselves, rent a truck, and return the truck at the new location and actually make a little money in the process instead of losing money and property on the move. It works out as long as it’s a stateside move. Overseas is a lot more complicated.Here’s another sadder-but-wiser story.
Years ago, we were doing a local move (from suburban MD to actual DC). The head moving guy asked if I wanted this or that wrapped in a blanket for the move.
Dear readers, it turned out that the blanket “rental” for each moving blanket was $20, and many of the pieces he was asking about were probably worth no more than $40 themselves.
It’s a little embarrassing, but try to ask, “is this extra?” in that sort of situation.
(Adding insult to injury, I see that it costs $12.99 to buy a similar moving blanket on Amazon. Wow!)
If we decide to move between homes while still stationed at the same post, we have to pay for the move ourselves so normally we just take the seats out of the van and make multiple trips. Borrowing a pick up truck if you don’t have one is even better. We also tend to “hire” friends and pay them with lunch and dinner.
Just buying moving supplies adds up but most of the supplies needed can be found for free. Newspapers or bedding can be used to pad belongings. Boxes are often given away at grocery and other stores. Often you can find actual moving boxes on Craigslist or similar sites for free or greatly reduced because someone else has just finished unpacking.
We’ve gotten pretty good at moving on the cheap. In the last 20 years we have moved 18 times–6 of those were international moves. Not every move has been Army related and several have been local moves, so it’s been essential to find ways to cut the costs.
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Xantippe
Guest
Speaking of moving and frugality, you’ll often hear that IKEA furniture can’t be moved.
I think that’s true of certain IKEA pieces, but we’ve had stuff hold together over 19 years and half a dozen moves (not all the stuff is that old or has done all the moves, of course).
In my experience, IKEA stuff often lasts longer than you want it to last.
theonion.com/article/ikea-claims-another-10000-lifestyles-1162
I think that’s true of certain IKEA pieces, but we’ve had stuff hold together over 19 years and half a dozen moves (not all the stuff is that old or has done all the moves, of course).
In my experience, IKEA stuff often lasts longer than you want it to last.
theonion.com/article/ikea-claims-another-10000-lifestyles-1162
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Allegra
Guest
zulily and eating out.
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1990Domer
Guest
I guess our biggest would be medical, then housing. We have retirement, health saving account and contributions to 529 plan before we see any of my husband’s pay. Then, the church donations get direct debited as does credit cards. We have a bailout account which we move money to on a regular basis.
Oh, Xantippe, I hate instant renewals too! Those offers are always “opt in” only, I swear.
Oh, Xantippe, I hate instant renewals too! Those offers are always “opt in” only, I swear.
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Zzyzx_Road
Guest
Most Ikea is poor quality. None of mine survived more than 3 moves. I’ve since spent more on better furniture and also picked up some nice pieces on the cheap from an estate of a friend’s in-law. Good stuff that lasts is better in the long run.
About moving, at a minimum, do all your own boxing and wrapping. It’s okay to hire movers to get the heavy stuff (fridge, sofas, credenzas, etc.), but try to handle the smaller stuff among yourself and family, friends, etc. Helps to have not so much stuff to begin with. I used to be a real squirrel, but I’ve reformed considerably in this regard.
Twice I’ve put stuff in storage while taking a job assignment away from home. Try to get rid of at least a few bigger items. If living in a large metro, it pays to check storage prices in different areas within 30 minutes drive or so. Also many, many expenses are deductible in association with assignments less than 12 months in duration.
About moving, at a minimum, do all your own boxing and wrapping. It’s okay to hire movers to get the heavy stuff (fridge, sofas, credenzas, etc.), but try to handle the smaller stuff among yourself and family, friends, etc. Helps to have not so much stuff to begin with. I used to be a real squirrel, but I’ve reformed considerably in this regard.
Twice I’ve put stuff in storage while taking a job assignment away from home. Try to get rid of at least a few bigger items. If living in a large metro, it pays to check storage prices in different areas within 30 minutes drive or so. Also many, many expenses are deductible in association with assignments less than 12 months in duration.
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CradleJourney
Guest
My experience exactly. I’ve learned that because of (or despite) my personal situation, things that “save” money for someone else often are much more expensive for me. So my best frugalty hack is simply getting to know my (and my family’s) strengths, weaknesses, and abilities.
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ThePCWife
Guest
Using money when time isn’t really an option has been the best frugal hack for our household. Trying to DIY when we didn’t have the time to learn the skills from nothing cost more money over and over again than seemingly more expensive approaches.
If you have more time than money, then using your time more often is more frugal. But if you do have more money than time, it’s often cheaper for you to just delegate and outsource as needed.
If you have more time than money, then using your time more often is more frugal. But if you do have more money than time, it’s often cheaper for you to just delegate and outsource as needed.
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Xantippe
Guest
Ours just won’t die. I believe I’m sitting in a 21-year-old Poang chair right now.
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CatholicSheila
Guest
Also watch where you buy boxes from. A lot of people here just go to the storage places and pay $5-10 a box.
The same size boxes can be had for $1-3 at a packaging store.
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DarkLight
Guest
The same size boxes can probably be had for free by walking into your nearest 24h big box store late at night and inquiring if they have spare ones.
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