You need 10-12 cloth diapers ($180) just to get through a regular Monday — and that assumes you are then going to wash and dry the whole load to get it ready for Tuesday, and you will never do that, that’s insane. So really you need more like 25 ($250) at least, plus the liners, which are still necessary to keep the diapers from turning into a swamp.
In 2012, Consumer Reports estimated that new parents will spend $2,500+ dealing with the aftereffects of one baby’s digestion. Because everything made by Proctor and Gamble is an environmental scourge, you can instead, if you like, spend $3,500+ on eco-friendly alternatives. (It’s not easy being green.)
As it turns out, you can’t merely wave your hand in a languorous way and say, “Be a dear and invest it in low-cost index funds won’t you, Philip? There’s a good chap.” I mean, for one thing, who is Philip, is he the butler? And if so how does he have access to the accounts?
It’s time to check in on our debt payments and savings goals again. If you’re joining us for the first time, you can read about our decision to publicly keep track of our debt here.
Everyone knows that secrets to living frugally include 1) cooking as much as possible, and 2) more cooking. But cooking, man! It’s time consuming, exhausting, stressful, and then, even after all that effort, unreliable.
When I finally went to bed after hours of cooking and cleaning up, having achieved absolutely nothing — having impressed no one, including myself, with the food I made — I said to my boyfriend, “Cooking is really stupid.” He said that he agreed. I said that I was never cooking again. He said he thought that was a great idea. I said, “I have to make homemade tomato sauce with C on Saturday. And I have to make some more galettes because the last ones sucked.”
“That sounds like a lot of cooking,” he said.
“I know,” I said. “I’m going to make the galettes and the sauce and then, I am never cooking again.”
Is cooking really that much of a money-saver, asks Get Rich Slowly? The answer is yes, mostly (and the site offers some hacks). But that still doesn’t answer the question of whether for you, individual reader, it’s worth it.
I personally think The Billfold should take full credit for this. Or Logan should.
Anyway, please list your net worth in the comments.
(I keep typing ‘net worth’ as ‘net work’, omg.)
After a summer of sharing our “the year we saved $10K” stories, we are reaching the end. Here are two more stories to share: one from Emma, who has a finance blog of her own called Let’s Talk About Money, and one from Irene, who saved money by fighting fires.
Emma: I save $12,000 every year, and have since I got my first job out of college. I do this by:
- living with roommates in a not-so-great neighborhood – rarely eating out or buying new clothes – rarely traveling (I go on yearly vacations but never anything over $1000 for two people) – driving a used car that I paid cash for
Right now, in my current job, after I put my $1000 into savings, that leaves me $800 to pay rent, food, bills, insurance, etc. I have a liberal arts degree and work in marketing/content creation.
This Business Insider video (via Slate) points out that since cheap liquor is marked up more than pricier liquor at bars, it makes more sense to buy the expensive stuff. You’re spending more money but you’re getting a better value for your dollar.
It is true that knowing how much a draft is marked up (456%!?!) could really affect your ability to enjoy that glass of swill. (Sorry, beer.) But will you appreciate an expensive bottle of wine more because you feel like a savvy spender as well as a fancy-pants connoisseur? It probably depends on whether you enjoy expensive wine more than the regular stuff to begin with, and can afford it.
Beer is not only cheaper than a glass of wine, usually, it’s also less of a rip-off. Now if only it tasted better.
Bottom-shelf mixed drinks are as much of a rip off as draft beers. Good to know.
The first time I saved over $10,000 in a year I was 26, and I moved to Seoul to teach English. I had previous experience teaching English, so I easily got a job at one of the more respected schools that mostly taught business people, with the occasional rich kid thrown in. My school was in an office building less than 100 yards from the Gangnam subway station, and I worked a split shift, which meant arriving at 6:30 am and leaving at 9 pm. In theory, you get the middle of the day off, but in practice, there were so many private lessons, most teachers worked throughout the day.