VIDEO ON MSN MONEY
This article's title is misleading and the article itself is unrealistic. Most people these days are fortunate to have 90$ left at the end of the pay or the month let alone to spend per day. I think that this magazine or whatever needs to get real and give some practical tips from people who are struggling and make what they can out of the situation. Regarding Dave Ramsey, I really like him too. The only thing is that when you have hardly any income to work with and have pared down to the expenses you absolutely have to meet, it can be hard to save. Right now I am unemployed and my PT job is hardly giving me any hours. I am also trying to plan a wedding on a very tight budget for September, which is Very difficult as even the most basic things are more expensive than I would like. I am very glad that I started to plan that ahead while I still had a job. I am struggling to keep gas in my car for work purposes only and groceries on my table right now. The relatively small amt of debt that I did acrue over the past 6 years does not help. I wish I had been more wise on that part 6 years ago b/c I would not have that credit card payoff bill I do now. Best of success to everyone out there that is truly trying to make it work and do not make 90,000 or whatever.
What catches my attention, however, is how completely out of touch she still is with the rest of the country. I would love to have her daily discretionary income as my weekly discretionary income - I might even have trouble finding things to spend it on, even at that much of a difference!
You did not save 10K! Saving is the actual putting of savings into a savings account, the fact that you spent less than before on some stuff does not mean you "saved" the difference. You obviously spent it somewhere else, otherwise you would have $10,000 in your savings account! She still has the idiotic "it is on sale, so I am saving" mentality. She saved a bit ($100 a month is BARELY $1,200 a year), but she did not save 10K! This whole article is a freaking lie!
Geez. I put together a budget as suggested in this article, and found myself with just less than $20 / day for groceries and miscellaneous. I have "only" $600 in discretionary money each month??? Ten years ago I was living in a dry shack in a friend's back yard, with the heat turned off and eating peanut butter and Top Ramen noodles. I worked hard to make it to where I am, and I jumped for joy when I saw how much extra I have now! What a wonderful blessing!!!!!! I am SO lucky and I know it!
But this is why I quit reading your magazine, Good Housekeeping. I recognize that the idea of having to cut back is tough no matter who you are, but most of us can't relate to an author who dithers about spending $3 / gallon more for organic milk. The question for most people right now is whether or not they have enough to buy one or two gallons of the cheapest milk in the case, and how much water they might be able to get away with adding to make it stretch. And did you know that you can cook those noodle and rice pouch dinners in old yogurt containers? And you don't have to add butter? Tips like that, GH, not things like "Don't buy a $4 latte every day." Yeesh!
And who says you have to spend money EVERY day?!? You don't need gas EVERY day, clothes shopping EVERY DAY. If she brought her lunch to work EVERY DAY from the $1,000.00 food budget she allotted her family, she wouldn't have to buy lunch EVERY DAY either. If they would just go to work, come home and have a home-cooked meal they wouldn't spend ANY money. Quite frankly, I could see them saving even more money by the end of the year. This is crazy.
Trevor - I think the point that you're missing is that these article are always the same. They promise ways to "save" money and the only advise they can give you is to not buy lattes every day.
We're angry because for the grand majority of Americans the reality over the last 4-5 years has been that we cannot afford to buy wants any more. You know it's bad when you're in the gracery store staring at papertowls and trying to figure out if it's a "need" or a "want" because technically you could use a cloth towel to wipe up spills, but then you'd nee dto buy more laundry detergent because you'd have 2 more loads of towels to wash each week. Do I need to get the inside handle on my car door fixed that hasn't opened for a year, or is it a want because I only drive with a passenger infrequently? There's no debate about whether or not the TV that fritzes out is a need or a want, it's a want because I can't even afford to keep the cable on to watch it anymore.
People like this author piss me off. She's clearly up there income wise and writes an article like she's one of the struggling middle class who can't figure out how they are going to pay the rent.
Give me a break- "While driving to a wekeend ski vacation in our Escalade, my husband turned to me and said Biffy, we need to stop spending so much money and I grew pale knowing that meant my hot stone massage I had scheduled later that afternoon with pedro would have to be cancelled..."
Here are 4 was to save money you've never thought of before...(new article I'm writing for MSN)
1. When purchasing a Yacht it pays to haggle over the price. Threatening to walk away before finalizing the deal could net big savings. Total saved $5K.
2. Instead of dining in 5 star restaurants 5 nights a week, hire an immigrant to cook dinner for you at home. You'll gain all of the ethnic flavor and save a load of cash! Total saved $700 per week.
3. Instead of paying a limosene company to provide you with on-call drivers, hire a private chafeur to drive you in your own vehicle. The annual salary is much less than per diem services. Total saved $2,000 per year.
4. Instead of spending $2400 a year on Botox injections, spend for a face lift once for $6000 that lasts forever. Savings after 5 years $6,000.
For the last two years, I have used my credit cards for practically everything, but I pay them off monthly. Then when christmas time came around, I had enough cash back bonus money to get my 15 neices and nephews all $20 gift cards and it didn't cost me anything else. This might sound tacky but it's the only way I can afford to get everyone something. I look at it as a sort of christmas savings account. Silly huh, but you have to pay off the credit cards and not pay interest to the credit card companies for the whole "cash back" programs they offer to be worth it.
90 bucks a day amounts to almost 33 thousand dollars a year of discretionary spending.
reducing that to save ten thousand in a year still leaves this cry baby of an author 62 a day or 438 dollars a week for groceries, clothes, lattes and such. My husband makes about this much gross BEFORE we pay our rent, car insurance, daycare, etc.
This is not middle class people. These are upper class people who make far more than the average american. And these are the biggest whiners and complainers.
STFU lady. You have NO idea what living on a budget really means and have absolutely no authority to tell ANYONE how to save money.
This article made me rediculously angry. I wish I could slap the computer.
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