Last year I wrote a post about trying to come up with an extra $1000/month and not being very successful at it. I figured out why I wasn't successful. It's because there was no urgency to it. It was a "could I do this if I had to?" Not a "oh my god, I have to come up with more money this very minute!"
Now, a year later, I really need to come up with more money. For reals, guys. For reals. And guess what? I did it. I made a new budget and not only did I come up with an extra $1000, I came up with an extra $2500! $30,000 A YEAR. And there will be very little suffering involved. Some sacrifices, yes. But at most, I might end up with few white people problems.
Let's look back at what I wrote in last year's post and the current situation:
"I can't just take the bus and be o-okay with the commute time and the hobo smell."
Taking the Bus. Actually, I really don't mind the bus so much. I've had to ride it a lot more this year and it's decent. It gives me the opportunity to have some downtime where I can listen to podcasts and zone out while I people watch. My life isn't that hectic anymore so I can't complain that it eats up valuable time and walking 13 blocks to my stop is a nice healthy walk. I just can't find anything to complain about when it comes to commuting by bus (but this doesn't mean I'm going to start taking the bus daily; the plan is to instead park off campus and walk or bike in on most days --I'll get as much or more exercise as walking to/from the bus stop-- and park on campus for $5 on days when I need my car (rarely)).
"I like wine a lot more now."
The Drinking of Wine. There's a big difference between enjoying a glass of wine and drinking ALL THE WINE. I no longer drink wine at home unless I'm having someone over. That Black Box cabernet on the shelf isn't super wonderful and by the 2nd glass it's just a bad, boring habit. Done. (Also, I lost 3 pounds.)
"I love having my hair professionally colored."
Stubborn Grays. I haz them. I won't give up getting my hair colored. I'll just let it go longer. Learn to love it. Embrace the gray.
"I love our gas guzzling car."
I love my car. Yes. Love. And it's almost paid off! No regrets.
"Our children have become accustomed to Odwalla drinks, Mexican coke and beach vacations."
Spoiled kids. Funny, we quit buying Odwalla drinks and Mexi-coke at Costco months ago and there's been very little complaining. Beach vacations? I don't think they really care. And at this point, they're just grateful when we leave them alone.
"Our cats stick their noses up at anything but stuff that comes in a can and costs more than my lunch."
Picky cats. We discovered that our younger cats really like kibble better than the expensive wet food. I tried for months to find wet food brands/flavors that they'd consistently eat because wet food is supposed to be better for cats but in the end I gave up. They now eat Before Grain chicken kibble (well, actually, Gus is temporarily on a special diet to prevent urine crystals but I don't even want to talk about it). Gumby still eats wet food but he will die soon, wont' he? He just turned 19. He will die soon, right?
So here's where the latest savings are happening:
- $600/month. House refi. Yes, it was meant to be a principal reduction loan but extra payments will mostly be put off until after the kids finish college.
- $140/month. Parking off campus. I'm not even going to get a UW U-Pass. I'll pick up an Orca card and just put $20 on it; see how long it lasts.
- $400/month. Less booze. Yes, that's huge. But we were kind of out of control. We'd go out for drinks sometimes 3 times a week in addition to buying specialty beer and the occasional $13 bottle of wine. That all added up. Now I think I can get away with 1 Black Box/month plus 3 or 4 outings w/ friends. And Robert, well, he likes his beer. But he's doing a fine job of spacing things out.
- $200/month. Less dining out. We rarely dine out as it is so how are we even saving on this? Well, when we don't go out for drinks we automatically don't go out for burgers. Our dining budget also includes lattes and Robert gave up his latte card. His work provides coffee from a fancy coffee machine so it was a mostly easy thing to give up (except I think he enjoyed fetching it from his favorite shop and walking with it to his 2nd office).
- $50/month. Gas. Less road-tripping and weekend scenic drives = less gas. We live in a beautiful city and there are so many things we can do and see on foot or a 10 minute drive away. Enjoy Seattle. (We are going to Portland in May and might be going to Bend in September. It's in the budget.)
- $200/month. Groceries. I have time to compare prices and shop around for better deals. I quit Amazon Fresh (it was too convenient! Crazy things just ended up in my cart!) and started doing most of my shopping at Trader Joe's and Fred Meyer. I now shop very rarely at my favorite store, Ballard Market (just too expensive when compared side-by-side to products at the other stores; I still go there in a pinch or when I need something special). I do several no-meat dinners. I buy some mediocre stuff. Cheaper olive oil is okay. So is cheaper salt. I went to buy some corn chips the other day. I like the round chips but the triangles were $2 cheaper so I bought the triangles. Is that a tragedy? No. The kids are becoming pretty frugal as well; mindful of what things cost. Recently we've been sending Zoe on solo shopping trips with cash in hand. It turns out she loves to compare prices and get stuff on sale. Yay! We still spend about $700/month on groceries but I think I can get it down to $600. That's $5/person/day.
- ~$1000/month. Less other stuff. We won't do any big home improvement projects or go all out in our garden. Our gifts may be less generous (but hopefully still as thoughtful and memorable). We're already way down on entertainment spending (less than $100/month for tv/movies/cable/derby/festivals), and have made up for it big time by spending our free time running, walking, and reading. No more extravagant clothing purchases (glad I bought those $60 CEP socks BEFORE I went all budget crazy).
I'm holding my breath, hoping we don't have any crazy emergencies. We are all currently healthy. The car runs great and she has new tires. The side sewer is practically new. The roof has at least 5-10 more years. The house siding could use a paint job but no one's going to complain if we wait another decade. The water heater is fairly new. The furnace could blow...
Funny how urgency changes things (which proves that I can't really be a frugal person just for fun...apparently I work better under pressure; had I had this attitude from the beginning I could have saved enough for my kids to go to college 3 times). Granted I've only been working on this for 6+ months and only really seriously budgeting for 13 days. Can I stick with it? Can I afford to keep my kids in college without them taking out a ton of debt? One can hope. I think it's worth it.
I also hope we won't be a huge bore to all our friends.