I'm a fan of frugal living lifestyles and one thing that I'm interested in is budgeting. I have been thinking about a good entry point to get into budgeting and I think the easiest place to start for me is weekday lunches.
The Numbers:
By going out to eat everyday, I would be spending anywhere from $2,000 (50 weeks @ $8/day) to $2,500 (50 weeks @ $10/day) on lunch a year.
I am going to set the new lunch budget at $20/week. If I can manage this budget, I will be spending $1,250 on lunch per year, or savings of $750 to $1,250 a year.
I think that $1,000 saved in a year is not bad, we could all use an extra $1K right? An added benefit is not having to go out and wait in elevators or in line, which can really annoy me sometimes. Negatives include losing lunch as a nice break from the work-day and potentially reduced social interaction.
I intend to write a follow-up post in a few weeks.
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Awesome man. Should be doable. Do you have any other habits like Starbuckys or such?
ReplyDeleteJust started doing the same thing. Found out I was spending way too much on lunch. Plus I need to lose weight. Started using this guy's "blog" about spending $35/week http://erikaugust.com/thoughts/category/thirty-five-dollars-a-week/. It's a nice little guideline.
ReplyDeleteThe big recurring expenses I'd like to reduce are cable television, internet (lower bandwith maybe), and my cell phone plan.
ReplyDelete$35/week looks interesting
Cable is certainly a huge one. I've been without it for about a year now. Just recently picked up an antenna since football is starting up. Almost everything else I get online. Even with Netflix, Hulu, and Amazon Prime, it's much cheaper than a cable package.
ReplyDeleteI am on a family plan...three people same lower tier smartphone, 10GB shared data...my cost $90 per month or $1080 a year! Definitely looking to decrease my cell phone plan when I can.
ReplyDeleteI was talking with a service rep to drop my cable down to a basic cable package when he offered me a lowered introductory rate for 12 months, to waive my DVR fee, and a $100 prepaid card to keep the package I currently have. That probably saved me a $1,000 in itself. I will say I wasn't trying to get the offer, I was legitimately looking into getting basic cable. Once that contract is up, I think I'll defintely lower my internet speed or internet plan and possibly drop the cable plan, but that will be a bit of a sacrifice for me. Love my tv, love my sports.
ReplyDeleteI want to go to an off-brand cell phone service provider but I am afraid of really screwing up and getting Cricket and getting hit with hidden fees and getting zero reception when I'm at home or travelling for work. I will have to do a lot of research or get some personal testimonials before I switch.
We could probably make separate posts for this stuff.