How do you manage with so little left?

neilwoods

The whole world is an economic crisis. Your single and have $600 (£340 ) to spend on food and you sometimes starve. $150 (£85) a week. I could eat out every day for that kind of money, and the cost of living in USA is a lot better than the UK

Enterprise_1701C

Why don't you come over here for a while and try to live to the same standard for the same price - you would soon change your tune. We are a small island and picked on by large corporations, often American, who charge us substantially more as they consider us a captive market.

We are all in "tough situations", but I would think I was living in luxury if I had the sort of money to live on that you obviously do.

taldor83

Ok, before this turns into an rant about how the UK is over-priced and we are picked on, or whether Obama is doing anything or not (Which would take time...it took years for this crisis to show itself, so it'll take a while to get back out!) everyone can budget.

Economan, have you read any of the stuff about brand shifting? Obviously it's different brands in the States but I'm sure the same kinda of rules would apply. Write down your meals etc then go with a shopping list. Be pro-active about what you want for the month ahead, only carry a certain amount of cash so you can only spend a certain amount.

That's all the things I've started doing in the last 2 months and I've found I can live off MUCH less than I had previously imagined...and my social life hasn't changed at all either:T

Hope that helps!

andrewmp

taldor83 wrote: »

Ok, before this turns into an rant about how the UK is over-priced and we are picked on, or whether Obama is doing anything or not (Which would take time...it took years for this crisis to show itself, so it'll take a while to get back out!) everyone can budget.

Economan, have you read any of the stuff about brand shifting? Obviously it's different brands in the States but I'm sure the same kinda of rules would apply. Write down your meals etc then go with a shopping list. Be pro-active about what you want for the month ahead, only carry a certain amount of cash so you can only spend a certain amount.

That's all the things I've started doing in the last 2 months and I've found I can live off MUCH less than I had previously imagined...and my social life hasn't changed at all either:T

Hope that helps!

I brand shifted in USA, I bought Dr Thunder instead of Dr Pepper.

PasturesNew

Economan wrote: »

The cost of living is pretty high in the US now. The US is in a economic crisis and President Obama isn't doing anything about it. I live by myself and barely eke out with $600 and sometimes I starve because of this.
I have to eat spaghetti for 3 days straight to save money.

Sincerely,
Daniel

When people have more money, they increase theier spending and forget they never used to be able to afford some things. Then when it's time for a cut back they go all whiney and "oh, but I MUST have that ... I can't POSSIBLY give up ..."

So the start has to be a really critical look at what you are spending your money on at the moment. Keep a count of every penny/cent for a week, a month, then look at everything and think:
- is this a basic need? (e.g. potatoes, eggs)
- is this a little indulgence? (e.g. one beer or a small bar of chocolate)
- is this just greedy (e.g. shop bought cakes weekly and fizzy drinks and a case of beer)
- is this just nuts (e.g. Cable TV, pricey car on installments, hotel holiday)

Break it all down. Imagine your list and what you'd say to somebody who was trying to live on 2/3rds what you do ... what advice would you give them? Use that advice for yourself.

[Deleted User]

Economan wrote: »

I have to eat spaghetti for 3 days straight to save money.

Learn to make sauce.

BRYSER

andrewmp wrote: »

I brand shifted in USA, I bought Dr Thunder instead of Dr Pepper.

:rotfl::rotfl::rotfl:God I love the name of this cheap Dr Pepper :rotfl::rotfl:Why is it cheaper brands have such wacky names??

cakeordeath_2

cooking for one can work out quite expensive in comparison, so if you've got one of those lovely big US larder fridge freezers, I'd suggest cooking in batches and make sure you freeze the majority and just use one portion at a time, don't over eat just because you've got a little more than one portion left, save that little extra and eat it with something else the next day who cares if they don't really 'go' together, no-one's going to know. ...buying ready made meals for one is very expensive on both sides of the pond and will soon make a huge hole in your budget. I'm just trying to get away from the convenience food myself and have cobbled together a few meals from almost nothing recently, it may not be particularly pretty, but no-one in the house is going hungry, and with practice I reckon I'll soon be pretty handy in the kitchen.

babyshoes

I assume that living in America you have a car - if you owe money on it, you could consider downsizing. A more fuel efficient car would also save money. There are ways you can maximise fuel efficiency, such as learning to accelerate more gently and plan ahead so you can take your foot off the accelerator a little earlier when you will need to slow down. (saves your brake pads too) Don't try 'coasting' down hills, which some people recommend - it doesn't actually save any fuel in modern engines and is pretty dangerous. Remove a roof rack if it isn't in use and take extra weight out of your car (it is amazing how much junk people carry around). Make sure your tyres are correctly inflated as even slightly underinflated tyres increase drag, and over inflated tyres are an accident risk. Don't use aircon unless you have to - try opening a window first. Plan your trips over the next few days so you just make one longer trip with multiple stops rather than popping out a few times to get stuff. Do you have a bicycle? Consider using it for short trips whenever possible, and maybe try to car share for work.

In terms of other expenses, you really need to find out where it is all going - keep every receipt for a month or longer, and write down cash spends where you don't get a receipt such as coffee shops and vending machines. At the end of the month write it all down in a spreadsheet along with your incomings. That way you can see where you can make savings, such as taking coffee in a thermos or a packed lunch - leftovers make a good packed lunch if you have somewhere to warm them up.

I find that having cash in my pocket makes money evaporate, as I can impulse buy little things like a bakery treat at lunch time or something nice but not essential, and my partner doesn't see the evidence to tell me off! I would be far better off baking similar treats at home and taking them in with a packed lunch, but we are both too lazy at the end of a long day at work, however we also earn enough between us that a few small impulse buys are ok in our budget - it sounds like they are not ok in yours!

Clothing can also be a big expense, if you let it. I have one student who won't wear ANYTHING without a brand name on it! I suspect he will get a big fright when he has to buy it himself with his own money... Consider shopping in second hand shops and cheaper clothing stores for your basics. As you said, you live alone, so who is to know if your day-to-day underwear or socks are the cheapest you can get? (Make sure you have some decent ones for dates etc!) I also sometimes find decent quality clothes in charity shops - no one needs to know it is second hand! The trick with second hand or charity shops is to pop in regularly for a quick glance to see if anything catches your eye, as the stock can change quite rapidly.

If you regularly go out to places where you will drink, why not see if you can find cheaper alternatives? At uni we used to have a few drinks at home before going out, so we could spend less on alcohol once we got to the club or pub. Is your regular drink expensive? Why not try a few cheaper versions - once you have had one or two of your usual drinks, you won't really care about the taste of a cheaper brand, or alternate alcoholic drinks with a soft drink. Maybe start staying in one weekend a month, and invite some friends over for a movie and popcorn, or whatever equivalent you prefer. (sport and beer perhaps? Card game and whiskey? Whatever.) You could also investigate cheaper things to do - we went fruit picking the other weekend, and it was surprisingly pleasant. We took a gentle drive out along pretty country roads, walked around the farm for a couple of hours tasting and picking loads of fruit, then went home and made jam. The fruit worked out a lot cheaper than the shops and tasted better too. Fun, cheap AND healthy! A picnic is almost free. Some museums, galleries, exhibitions etc have free entry and can be a fun thing to do at the weekend, despite the reputation of being boring places.

In terms of health, do you have a gym subscription? Perhaps you could find a cheaper way to exercise like running or cycling? Also, fresh fruit and veg is often very cheap, especially if you find the reduced price stuff that needs using straight away.We always buy the reduced price meat too, and freeze it. Also, when buying medicine (which I know is expensive there) always try to find a generic version and ask your doctor to prescribe a generic when you need a prescription. They are exactly the same drug but without the expensive branding - they work the same for less cost!

Fire_Fox

Economan wrote: »

The cost of living is pretty high in the US now. The US is in a economic crisis and President Obama isn't doing anything about it. I live by myself and barely eke out with $600 and sometimes I starve because of this.
I have to eat spaghetti for 3 days straight to save money.

Sincerely,
Daniel

My parents are in North America, the economic situation is no worse there than it is here in the UK. The cost of living is not high, it's high compared to what we are all used to. It's easy to blame politicians. Start distinguishing between essentials and luxuries and count yourself lucky you don't live in the third world.