My boyfriend and I are trying to position ourselves so we can afford a house in a high COL city and not be house-poor. As a result, I've become obsessed with personal finance and living frugally, and while we were already simple people who don't need much, we have de-prioritized everything else in our lives so we can accomplish this goal. Because I've become so obsessed, I constantly feel like there's more we could be doing to save.
The numbers:
- Combined take-home income: $2100-$3100/mo.
- Rent: $975 (utilities included)
- Electricity: ~$26
- Internet: $30
- Freelance business expenses: ~$100
- Groceries: ~$400 ($100/week) [see note]
- Meals out: $25-50, 0-1 times/mo.
- Entertainment: Typically $0 (books from the library, free movies, etc.)
- Pet care: ~$25
- Household/personal care: ~$40/mo. [see note]
- Car loan: $300
-
CC debt: $4000, making minimum payment
-
Food is obviously our biggest weak point, and I've tried really hard to get this down to $50/week through meal planning, etc. But we just can't seem to do it. We each cheap meals that involve beans, rice, ground turkey, frozen veggies, etc. I bring leftovers to work every day and he eats lunch at home. I don't drink coffee, he makes his at home.
-
The personal care is mostly me, and I struggle with this because in comparison to most women I'm very low-maintenance. I don't wear makeup most of the time and use only one cheap product for every area (skin, body, hair, etc.).
More background:
In recent months we have had to make a few large, one-time purchases: moving into a new apartment ($2500, crazy move-in fees), avalanche debt payments, getting our second car shipped out, winter tires, etc.
Neither of us have any majorly expensive hobbies. We have fewer than ten dishes, a cheap futon from Target, no chairs, Goodwill coffee table, etc. We never travel. He buys a shirt from Goodwill every six months and I haven't bought new clothes in over a year.
My boyfriend thinks we are pretty frugal compared to most people, and I agree. But like I said, I can't help but think about how we could start saving $200 more a month or whatever. As you can see, I don't have health insurance (he qualifies for Medicaid) so that will be a cost we have to factor in soon.
Any thoughts? Thank you in advance.
Quick edit: the house goal is for 2-3 years out if not more. Adding a few more details later.
March 11, 2017 at 10:31AM
