Context: mid-twenties single female, trying to go "frugal under the radar", that is, attempting to fit in with my (non-frugal) peers/profession on the surface, but managing that with less money. Thought I would share some tips. Some are common, but hopefully it can help!
- Rent: consider full cost of renting plus utilities and any transport cost and time. Not all leases include the same utilities, and not all buildings are equally energy efficient. Consider the effect of a roommate on your productivity and wellbeing. WiFi can be costly. Similarly, your time is also worth money, so commutes can be expensive. Decide on the overall picture. The total package of housing and utilities comes down to $1900 for me.
- Transport: I live close enough to work to walk or bike. This saves dollars and the environment, and the exercise improves my health. CitiBike offers a discounted annual membership around December. This takes care of most of my transport at around $10/month. I will only occasionally take the MTA and cabs only for emergencies.
- Phone: used iPhone 7 (bought for $350 in 2018) and prepaid contract for $300/yr. Assuming the phone lasts for another year, the total cost is $32 per month. I am considering switching to a cheaper contract.
- Food: meal-rep most nights, or have ingredients for simple dishes at home. There will be days when you are too tired to shop and cook, so have some ready meals in the freezer. I save the ordering and eating out for special occasions, or as an occasion to meet friends. I keep this to once a week, which also makes it a lot more special when I do it. Going out for lunch or coffee can be fun too, and costs a lot less than dinner. Find the cheap stores in your area. Try not to skimp on fresh produce and healthy protein sources, in stead save by buying in bulk during sales and checking out discount stores. Lot-Less has a cheap selection of breads which can be stored for a long time, and Duane Reade has $1 bags of cookies. Try to buy off-brand as much as possible. Always have snacks in your bag and a water bottle. Keep alcohol to special occasions. My food bill comes down to $300 groceries (including household items) + $70 eating out = $370.
- Entertainment: cheap hobbies include listening to music, watching documentaries and movies, and reading. We know the subscriptions - YouTube is also a free option. Get books from the library, or from open source e-book websites such as the Gutenberg project. Explore the city with friends, take walks together. Drawing, crocheting, origami and embroidery can be cheap hobbies too. My entertainment costs are occasional museum tickets, games, and DIY materials, at $20 per month.
- Beauty and hygiene: My strategy is to save on the essentials. Toothpaste can be found at discounters for $2. I use a Dove bar soap in the shower which was $2 and lasts three months. My hair is a bit difficult, so I will buy in bulk when brands that work for me are on sale. $4 per bottle of shampoo/conditioner is my absolute limit - more than that is not better for my hair. I find that a good diet, exercise, sleep and careful washing/brushing /styling makes my hair look better than expensive products. Serum can be an exception if needed, which can be found under $7. Nivea moisturizer is time-tested and very cheap. Blistex for lip balm at $2 or less. I don't own shaving foam as the bar soap can handle it. Name-brand cosmetics can be found for $2-5 per product at Lot-Less, which is usually less than half price. You might need to do a bit of research to find affordable skincare products that work for you. My weakness is perfumes, which is a passion that brings me joy every day, despite being a frivolous expense. I limit my perfume spending to $80 per year from discount websites or EBay. Total: $20/month.
- Clothing: if possible, stick to a style that works for you. I try to buy plain items in minimalistic, classic cuts. Buying used gives you an idea of the quality of a product. Thrift stores can be good for this, or EBay. Thrift shopping does not require a lot of time if I buy good pieces that work well for me, because I only rarely need to replace something or look for a "refreshment" to my wardrobe. Try to buy the best quality you can find for a reasonable price, and avoid overly trendy items. You can dress well on $20 per month. Occasional fun accessories can be thrifted easily and can make an outfit look great.
Total cost: $2400 / month. I rounded up to account for miscellaneous small expenses and gifts.
Living like this means I can save around one-third of my take home pay. I realized that I am privileged in ways, and that my budget is not bare bones: my rent could be halved by moving further from work and splitting, and I could cut frivolous spending on perfumes. However, this is a setup that balances my short-term comfort with long-term saving goals. Not everyone is the same, and I realize that this lifestyle will not work for everybody. I just wanted to share it in case it helps anybody. End of the rant!
February 06, 2021 at 11:26PM
