I started out so well. Took so many lunches to work. Made my own coffee. Got many free meals... And was doing much better than last months, I though.
I did not go shopping...
If I was not tracking, I would have sworn that we had a very frugal month. But in reality, it was worse than the previous month. Almost 2K over the budget. I can't believe it!
It was only due to large amount of extra income from DH's overtime and side job that we did not spend more than we brought in this month.
Seems now matter what we try, we end up in the same place.
February results - if I did not track, I would not believe it!
March 3rd, 2014 at 08:31 pm
March 3rd, 2014 at 08:44 pm 1393879464
There is a lot of room to make changes. Try AGAIN for March. The key is saying no to some of your spending ( I would start with eating out) as well as being on the same page as your spouse.
March 3rd, 2014 at 08:58 pm 1393880293
I did not go shopping, I did need an eyeliner, as previous one was finished, so I went to pick one up. The other clothing purchases is a very good promotion for DH (nice shirt and tie for $50), he hasn't had a new one in ages (ordered online) and extremely rare deal that my mom got for me through a friend who works in a boutique - extremely well made fall shoes that I needed - I had to through out last season's pair because they were so worn out. And these were super light, comfy, stylish, and $560. And a store manager for who my mom did a favor let me have it for $100.
Eating out was due to restaurant week and few outings with friends. Less going out, but higher tab, we only went out maybe 6 or 7 times this month.
March 3rd, 2014 at 09:03 pm 1393880638
March 3rd, 2014 at 10:37 pm 1393886231
Eating out was just for 6 or 7 times? That comes to about $136 per outing. I know NYC is expensive, but wow. Your car costs are also incredible, even with the metro north tickets. Do you have to have a car? It's soooooo expensive. In fact, your car costs for the month of February are just about what I pay for ALL my monthly expenses in a given month. Suburban CT is cheaper, I know.
I know you were saving on small stuff like not shopping and bringing your lunch, but your frugal habits there would have more impact if you applied them to the big stuff, like transportation costs, if at all possible.
Groceries....egad! I am just one person, but I spend about $250, for comparison purposes.
March 3rd, 2014 at 11:04 pm 1393887876
March 3rd, 2014 at 11:05 pm 1393887922
March 3rd, 2014 at 11:44 pm 1393890242
It seems like the place to cut expenses is food. I know NYC is expensive, but maybe set a lower target for your grocery budget and meal-plan to get there. If lunch costs include eating out or picking up pre-prepared items, you might consider limiting lunches out to once or twice a month. The dining out budget could be reduced, too. If you like nice restaurants, maybe just one meal out a month? Some of our friends go out a lot (and we have a lot of amazing restaurants here), but we stick to the pot lucks with friends.
Expense tracking can be really eye-opening. Our monthly grocery expenditure has gone down by $100 since 2012 (even though prices aren't going down!) and it's made a big difference. It's more careful meal planning (less meat, more vegetarian).
March 4th, 2014 at 04:42 am 1393908166
March 4th, 2014 at 05:30 am 1393911013
March 6th, 2014 at 02:44 am 1394073898
March 6th, 2014 at 04:40 pm 1394124026
March 11th, 2014 at 08:18 pm 1394569093
After many, many helpful suggestions from the SA community here over the years, most of which have been rebuffed, I've come to accept that you really don't appear to be that interested in amending your lifestyle in any way, so I guess the bottom line is if you and your husband are saving 15% or more of your income, you are in fine shape for the long run.
In the meantime, continue to enjoy your life as you choose to live it. If there ever comes a time when you decide it's in your best interest to save more and spend less, I'm confident you'll take the appropriate actions and do so.
March 11th, 2014 at 09:48 pm 1394574505
I do want to save more. People may see my numbers and apply them to their situation, not realizing how freaking expensive this city is, and how here money only buys a fraction of what they think it buys.
I want to look for easier changes, but not to compromise on quality of my food or being able to go out to a cafe after a hectic, always busy, never enough time to get everything done week.
March 12th, 2014 at 03:10 am 1394593857
March 12th, 2014 at 01:25 pm 1394630728
I would imagine it depends what the purpose is of the tracking. Are you having trying to formulate a budget? Are you seeing how your expenditures fit into budgeted allotments, and are over/under?
Your expenses are high, and I think that some of that is based on living in a HCOLA, but some of that is also based on your choices. And from reading what you've written, it seems that you feel shocked at how much you are spending.
Are you having goals for yourself to spend less? You can probably still eat a quality diet (and go out) for less than $2K per month.
March 12th, 2014 at 04:33 pm 1394641997
March 12th, 2014 at 06:56 pm 1394650595
It's like the saying, "You can have *anything* you want, you just can't have *everything* you want."
You can have $30/lb fish OR you can go out every week for brunch and crepe cake for $100 OR you can go out with your friends 6 times for $900 OR you can buy a pair of great shoes because they're on a killer sale OR you can do this OR you can do that. You just can't keep doing all of it. And when anyone suggests something, there's an immediate response of, "No, I can't stop doing THAT," or, "You just don't understand how EXPENSIVE New York City is."
Case in point - you say you did not go shopping, yet you bought an eyeliner, a shirt and tie, and a pair of $100 shoes. That's shopping. You didn't have to buy those things. Are you barefoot? Is your husband naked? It's all about choices.
You need to pick a few of those things that are the most important to you and then cut back on the rest. Or you need to accept that you'll save 15%, spend the rest, and come to peace with that.
March 14th, 2014 at 12:58 am 1394758686
March 14th, 2014 at 01:50 am 1394761802
If you really wanted to save more money you would just not go out for dinner. At all. Millions of Americans eat at home every night of the week. It may not seem like it in NY or your circle of friends. The fact that many people do this means it is possible. Eating in means yes you can still have the quality food you prefer.
I'm only mentioning these things because I agree AND I do want you to do better. I think we all do. We want to help, but there is a little frustration from our point of view that you aren't really wanting to help yourself. We only hear excuses. No one NEEDS $300 shoes, or $900 shoes on sale for $300. Just think what that $300 if saved could buy in the future! That is what helps me when I want to buy something expensive...well in the beginning. Now I just don't like to shop or buy.
March 14th, 2014 at 02:03 pm 1394805817
March 15th, 2014 at 04:24 pm 1394900669
March 16th, 2014 at 04:59 pm 1394989164
Suzanne
March 17th, 2014 at 12:54 am 1395017674
Creditcardfree, I'm definitely not keeping up with the Jonses when it comes to baby clothing. I just get something comfy, super soft, and cute. I am not even in any mommy group and have no one to impress there. But a toddler grows and needs new stuff all the time.
I don't want to not go out for dinner. We like it. Sure, if we really had to, we would. When we made less, we ate out less. What I'm looking for is a good balance for us, which would be just spending less than last month. BTW, a little observation about not going out for dinner suggestion - I traveled to many places in the US. Not just few smaller towns, but big cities and I have to say in most places it is easy and not a sacrifice to not go out for dinner. I dreaded finding a place to eat dinner. The food sucks. Just not worth the calories, bland, or greasy... If I lived in those places I would eat at home 100% of the time too. One of the reasons I like NYC is for its food. And if we are already paying for the privilege of living here, we might as well take advantage of this access. It is not like we are in credit card debt.
Scfr, why do you assume that we don't pursue more income? Between DH's overtime, and teaching a course in the evening, a promotion, extra money from business trips there is a lot of extra income that takes extra work. Or assuming that we are not planning for retirement and intend to work till we drop?
Susanne, I think a gallon of milk (org) is 6.99. No idea about ground beef, I never buy it. Once in a while I will buy some meat and grind it at home, for hygene/quality control reasons.
March 17th, 2014 at 02:24 am 1395023088
Growing toddlers don't need new clothes. They need clothes from Goodwill or garage sales or relatives.
You don't need organic milk or to eschew ground beef and grind your own meat. Billions of people in the US survive and thrive without those things. Eating that way is an expensive choice that you make. It's a want not a need and it is a place you could save money if you choose to.
You're unwilling to eat out less or change commuting habits.
You are completely unwilling to change ANY of your behaviors yet you ask about how to save more money.
Scfr is correct - if you won't spend less money than the only thing you can do is make more money. If you won't make more money than you have to accept your current savings rate.
Since you don't like any of our ideas, perhaps you could come up with one single example of something your ARE willing to cut back on?
March 17th, 2014 at 12:58 pm 1395061097
March 17th, 2014 at 01:01 pm 1395061307
@Suzanne - that is for organic milk, not regular. In Chicagoland suburbia, a gallon of organic milk is $7.99.
March 17th, 2014 at 01:41 pm 1395063665
March 17th, 2014 at 02:14 pm 1395065693
@Suzanne - Ah, Dairyland, full of Cheese Heads!
March 17th, 2014 at 05:19 pm 1395076742
March 17th, 2014 at 06:40 pm 1395081644
@Suzanne - Ah, I like "cheddarhead" better than "cheese head"! My FIL likes the Packers and it is very dangerous for him here in Chicago!
March 18th, 2014 at 01:57 am 1395107856
March 19th, 2014 at 09:25 pm 1395264333
Do you know anyone who has a child a little older than yours that you can perhaps get gently used hand me downs from? I was fortunate in that my niece was a year older than my daughter so we got to take advantage of a lot of cute, barely worn clothing. We saved an awful lot of money on baby, toddler, and young child aged clothes, and nothing ever looked dated or used or ugly. SIL had good taste. What about consignment shops? I'd think you'd have a ton of those in NYC. You could trade your child's gently used clothing for store credit and then turn around and use that credit to buy some cute outfits in bigger sizes.