About Me

Thursday, October 20, 2011

Living On Less

Got this from Serendipity

Do you avoid a lot of the expenses that many of your peers spend money on, such as technology and meals out?
Sometimes. While in school I was quite frugal. This sort of just continued once I graduated and owed a lot of money. I have slowly allowed myself to spend some of my money though. I have bought some technology (DVD player, ipod touch, smartphone, laptop). I have also spent money on a vacation. However I do not have a house, a new car (mine is going on 13 years old) like many friends do. I have bought all of my items with cash though, and I know several friends have bought their luxury items on credit. 

What's your typical meal?
Sandwiches are typical. I do like to make a nice meal once a week but this is going to change soon when I move in with D. I expect more nice meals, however they will need to still be relatively low budget. 

What about clothes? 
Love clothes. I do not live close to any malls though which is probably a good thing so I don't get to go shopping very often. We have few stores I would actually buy clothing at in my town. I go clothes shopping about two times a year.

What about going on dates?
D likes the more expensive dates. I am all about a home cooked meal and a movie online. He prefers things like scuba diving. We are going to be living together shortly though so we will have to come up with more ways to spend time together without spending a lot of money. 

Do you indulge in any luxuries?
I was never this way before. But since my debt has been paid off I have allowed myself more luxuries. I do tend to purchase my lunch more than I should, I hope to stop this when we move in together. I generally spend under $7 but that definitely adds up if I'm going out 2-3 times a week.

Do you have health insurance?
Yep. I live in Canada so it's free. I do not have additional work benefits though so I end up paying out of pocket for any prescriptions and dental appointments which are costly over the course of a year.

Do you have any savings for emergencies?
Yes, I have about $2000 saved for an emergency. It's not a lot but it's a start for now. I do have a planned savings account as well that has $15,000 in it that if needed I could access. Once we move into the new apartment I will see what a typical month would be and try to work my way up to 6 months for an emergency fund.

Do you anticipate or look forward to having a higher salary one day?
Yes! And can hardly wait. I went to school for 5 years and received two degrees and I really hope all that work was worth it. I want to teach but don't know if I can last another 3-4 years just supply teaching. The money is not great, it's hard to plan on an inconsistent income. I have earned more every year since graduating though so small steps.

What about retirement--do you plan on ever saving enough to retire?
I sure do! I have started which is something right? I have $1000 in regular RRSPs, $1500 in RRSP GICs, and $500 in a Mutual Fund. I should be saving more and will continue to tuck away when I can. Less than 40 years left!

1 comment: