Tuesday, January 10, 2012

New Savings Plan

Okay, so I just announced I'm going to Europe for Spring Break. And I just tapped my E-fund to buy my plane tickets. Ideally, I'd like to fund this trip without derailing my other goals. If I were still a single gal, living alone I would go frugal-crazy and find ways to slice my budget all over the place. But, I live with BF. And since it's not his trip, I don't feel right making him suffer for my vacation. Also, he has a lower threshold for frugal living than I do in general, so that's something to keep in mind.

That's not to say we'll be eating out every meal and spending like crazy. We cook a lot, and he's trying to save to pay off his credit cards too. But, I've decided to cut in areas that only affect ME and not US.

So, the following things are banned until the end of the school year (which is after the trip, but my savings will need some recovery time afterward too).
1. BANNED: Clothes shopping. I have enough clothing, and I did some shopping over Christmas for myself, so I am all set. (The only exception would be that if I lose the ten pounds I'd like to, I can buy a new pair of jeans from Old Navy).
2. BANNED: Spending money on food at work. No cafeteria breakfasts or lunches, no $2 mini-Jamba Juices on Wednesdays. No vending machine sodas. I just need to allow five extra minutes in the morning to make breakfast, and be ready with easy lunches.
3. BANNED: Eating out alone. Basically this means no stopping for fast food when I'm out running errands. If I'm socializing, that's fine, but on my own I need to be prepared and eat at home. I'd also like to make an effort to spend less when I eat out with friends (kids meals, eating first and meeting for just a drink or snack, etc.)

BF and I will still hit up a happy hour about once a week. We'll still go out to our favorite bar about once a month. I'll still buy groceries for real dinners and buy beverages other than water (though I'll look for deals at the grocery store, of course).

I think these three choices will make a difference in my budget, and my goal is to be able to filter extra money from my budget toward my trip in each of the next three months (January, February, March). I'm also trying to hustle up some stuff to sell on Amazon and Ebay, though my apartment is pretty cleaned out, so that will be a little tricky.

Stay tuned for the actual budget in another post.


  1. All excellent sacrifices to make, in order to let your wonderful Europe trip come true.

  2. Sounds awesome!
    my b/f and I recently started a food budget because we would eat out or get take out all the time.. being lazy and all..
    So we made a budget for $500 a month which includes eating out and groceries. Last month we came in under $100, even with eating out so we will try for $400 next month.

    I came across this book and thought you'd might like it. If you have a kindle device its free for prime members, or its $2.99.

    "From Ramen to Riches: Building Wealth in Your 20s: Or Spending, Saving, Investing and Managing Your Money to Get Rich Slowly, but Surely"