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Home > Living cash poor -- trial run.

Living cash poor -- trial run.

May 17th, 2007 at 05:28 pm

Previously, after paying all our obligations(rent, utilities, studen loan, insurances, transportation, etc) we had about $3100 left monthly for discretionary funds - food, eating out, saving, clubing, clothing, weekend trips...

If we buy this co-op, after fixed expences, we will have only $1000 to live on the entire month!

I don't know if this is possible, but I will try. I will record every cent I spend from now on, get cheapest lunches, try to minimize waste, and try to figure out if this is worth it, after all.

So, to start, here are todays figures:

0.5 donut from a street cart guy in the morning, had it with coffee at work
3.37 lunch - buffet salad bar
From the grocery store:
3.49 butter 8.8 oz
3.99 organic milk
4.49 angel wings

15.84 Total

Posted in Uncategorized | 7 Comments »

7 Responses to “Living cash poor -- trial run.”

  1. moi aussi Says:
    May 17th, 2007 at 05:38 pm 1179423493
    1179423493

    Yes of course it's possible. There are a lot of people out there who live on way lower amount than $1K to play with. 1K a month just to play with? It's almost offensive. sorry. LOL

  2. madhaus90 Says:
    May 17th, 2007 at 05:40 pm 1179423640
    1179423640


    My only advice: it is far easier to do without things hen you are building equity in property. And give yourself "$x" per period (biweekly or monthly) for a splurge. I found having the extra money (even if it was only $15 to spend on whatever, I was free of guilt and sometimes even made decisions to not spend - ) I'm all for homeownership ...

  3. Brooklyn girl Says:
    May 17th, 2007 at 06:02 pm 1179424955
    1179424955

    It is not just to play with - it has to include some savings and food -- (we never had a budget for food before, so I really don't know how much it would be -- but in NYC it is expensive.)

    And as for savings -- how can we give up on maxing out our ROTH? But if we did not, it would eat up $666 a month from this 1K, making it impossible.
    Pension fund and 401K are included in the "obligations" category, but ROTH is not. But we both are having hard time with decreasing retirement contributions.

  4. PauletteGoddard Says:
    May 17th, 2007 at 08:26 pm 1179433602
    1179433602

    Good luck, and please share any new strategies you come across.

  5. monkeymama Says:
    May 17th, 2007 at 09:31 pm 1179437492
    1179437492

    I think a trial run is a great way to go. Let us know how it works. Better to find out now if it doesn't work, than too late...

  6. Amber Says:
    May 18th, 2007 at 03:16 am 1179458182
    1179458182

    Well I think you should cut out the dining out, this will save you a ton. Now I am no saint when it comes to this but when I cut out eating out I save a lot of money. I agree also with moneymama in regards to a trial run, I think that is a great idea

  7. Aleta Says:
    May 18th, 2007 at 04:00 pm 1179504001
    1179504001

    Something that my husband and I did was to take the money he was spending on lunches every day and buy for the week everything he would need daily for his lunches. That included drinks although he drinks mostly water unless he ends up in a fast food place. He also takes raisins, earth chips, and various cut-up veggies. You can't imagine how much money you would save yourself on lunches alone. Also, find out how many times a week you eat out on the average and try to cut one of them out.

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