Saving Money- This Vs That


I’ve been a penny pincher for quite some time. But now that I’m back in school I am a super penny pincher. Like I should wear a cape and some shiny boots. Here’s what I do to save, and the difference it makes. I also use Mint.com to track my spending and set budgets. It tells me when I’ve gone over my spending so I can be careful.

1. Coffee! I love my coffee. Especially now that I’m in school again. I got a coffee maker back in March for about $35 and buy a $11 bag of coffee about once every two months. Organic, twice the size of the regular stuff. About 5 days a week I make coffee for boyfriend and I. Filters run me about $2 every 6 months. I get Soy Creamer once a month or so ($24 a year) and sweeten with honey ($12 a year).

Yearly cost of coffee at home for 2 people: $141

Coffee for 2 people, 5 days a week, 52 weeks a year at $1.65 a cup: $1,112.10

Savings: $1043.10

IMAG0479

I love a morning coffee. Just one. Then maybe I will switch to tea.

2. I also ride my bike home at lunch to eat at home. I allow myself to eat in the cafeteria once a month if I’m on a time crunch. If I eat in the cafeteria 5 days a week (when my classes are) I would spend an average of $6 a meal.

Eating at home: The cost of groceries, divided in 3. I budget $150 a month on groceries. Divided by 3 for a year: $600.

Eating at the cafeteria for a school year (8 months) $1032

Savings: $432

3. I try to save on dinner when I can. I buy groceries to make myself a complete meal that’s simple and healthy. We have a lush garden right now that is producing a ton of veggies so we don’t need to buy those. And when I get done with work sometimes (I waitress to supplement income while in school) I will get a discounted meal and a free glass of wine. I spend maybe $20 a month eating and tipping the bartender where I work and dining out with friends once a month $20.

Cost of my dinner spending monthly: $40 Yearly: $480

Dinner dining out 3 x a week: $10 each time $120 a month. Yearly :$1440

Savings: $960

June 30 Garden 7

The garden! Still going strong after a long summer!

4. I sold my car to save money and I now ride my bike to school and to work. Do I need to calculate the cost of the car? No. How about the savings though?

Cost of Bike + helmet + accessories (Basket, crate, crate holder) : $500

Cost of car payment + gas + insurance: $400. Yearly? $4800.

Savings: $4300 

5. Ok, I’m a girl. I get these cravings some of us refer to as “Retail Therapy.” To save money (and my sanity) I go to Goodwill. If I need something NEW, like necessary items, I get them NEW. I’m not that thrifty.

Thrifting once every few months for me is t-shirts, dresses, jeans, and sweaters, sometimes coats. I spend about $20 every 2 or 3 months. Let’s call that $120 a year. I also make clothes like dresses and alter clothes I have to make them awesome again.

What I spend on thrifting and alterations: $120 a year.

The cost of buying new? $480

Savings: $360

painting party 7

I did this post earlier about a dyed sweater I DIY’ed.

6. Decor is never cheap. I was looking around my apartment and realized that over the last 5 years or so I have barely gotten anything new. I got my sofa sleeper at a rummage sale, but it was at an apartment complex sale, and the sofa was in a show unit- never even slept on. New-ish for $40. I made my drapes for my bedroom, I made my duvet covers for my pillows in the living room and painted almost all of the art in the apartment. The chairs at the kitchen table were found in the alley and the table was a hand-me-down. Boyfriend found his desk on the curb during College move out season.

Savings of about $500 a year. 

The amount of money I save a year by being frugal is $7595.10. Can you imagine that!!?? What do I do with that extra money, you say?! I usually just use it to pay bills. But someday I will use it to travel more. Here I did this post after telling myself that I wouldn’t do any more math today after homework was finished!

What are some ways you use to save money? Happy saving!

 

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5 thoughts on “Saving Money- This Vs That

  1. Very impressive. I like to think I’m ‘frugal’ and good at ‘saving’. But to be honest, I have a ton of bad habits that eat up a lot of my money. I feel like I’m back at church..”Forgive me, for I have sinned…” I am guilty for going out for coffee at least 4 times a week but the reasoning behind this is that I don’t have an office and really enjoying sitting at a Starbucks to do my blogging. And, although I hardly buy new items, I go thrifting A LOT and it does add up. I am conscious, though, of every dollar I spend and at least I am aware of where my money goes and can see the pattern of my spending. I do make sure I put away a portion of my paycheque every week and only allow myself access to minimal funds. I also don’t eat out often and stay away from the mall!

    Definitely an inspirational post, thanks for sharing.

  2. Ways to save money. You mention going home for lunch, if you are time squeezed you could take a sandwich/pack up with you. I personally get my caffeine fix at work for FREE. As one of the bonuses of working in a cafe is indeed free tea, coffee, mocha, all freshly ground and yummy. Saying this I usually just have tea. I think by re-purposing things I save money, like a pair of jeans with a rip might turn into a new pair of shorts. I also tend to gift things that might be unwanted / not fit me to friends and family members who as a result in turn gift me their unwanted stuff that I might want. (It’s a nice circle of swaps).

  3. Great. I could benefit from simple methods possibly. Although this thinking process seems takes too much mental processing every single day. Best of success to you, Roxann.

    Victoria E.

    >

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