Wisebread published an article this week which detailed in part the expenses incurred when taking on a second car:

According to the American Public Transportation Association, replacing one car with a combination of walking and public transportation saves a household $8059 per year in reduced spending on fuel, maintenance, insurance, registration, depreciation, finance charges, etc. (Even after adding back in the cost of public transit.)

I started to pat myself on the back for insisting we stick with having one car because we’re so used to coordinating our trips that we do it without really thinking about it. We also live within walking distance from the metro rail which makes it easier to get home if one of us is away with the car.

What are we saving?

I did some of my own calculations and we save upwards of $12,000 by opting out of purchasing a second car. Since my husband’s place of employment is on my way to class and my internship, we drive in together in the mornings. When I leave for the day, I swing by his place of employment if he’s ready to go and we drive home together. On my days off during the week, I drop him off and pick him up from the metro. This works out pretty well since it saves us the metro ride cost of $7 per day which amounts to $140 per month which in turn saves us $1680 a year.

Keep in mind, this doesn’t include the actual costs of owning a second car. If we did, our expenses would look something like this:

• Car payment: $4200
• Insurance: $3000
• Gas: $2880
• Maintenance: $650 (Tires, routine preventative maintenance, inspection, registration)

Total: $10,730

We can afford to do this because we dont have children and therefore don’t have runs to the babysitter, school, practice or anything else kid related. I’m certain this will change once we do have children but for now I enjoy the financial convenience of not having to purchase a second car.

Our friends who do have children with multiple commitments ask how we make it work and we usually answer something like this:

Don’t you ever have a situation where one of you has to go in a totally opposite direction than the other?

This rarely happens since we live and work all within the same general area. It’s rare that I am forced to take the bus home (hubby picks me up from the metro) or be left at home without a car. On the rare occasion that I was at home without a car this week, it was my day off and had no serious plans to leave the house. I had the option to stay home without the car or drive all the way to Fairfax to run errands so I opted to stay home and hubby took the car on his lunch break to run his errands.

Aside: Now I know some of you dedicated SAHWs will cuss me out over email for not running his errands on MY days off but understand that my days off are not for appointments or running errands. I do all of that on the days I actually leave the house. I try not to clutter my free days with appointments, errands, cleaning and the like because I like my ME time. And, in turn, I don’t harass him with “honey-dos” if he is off during the week or working from home. My house is run like a well oiled machine <insert evil laugh>

But don’t you like the freedom of just being able to get up and go without planning your trips?

It’s really second nature and not something we think about. Hubby is really a hermit unless he is hanging out with his frat brothers, family or I drag him to some event or dinner. What usually happens is, since I am MS Social I always have something planned for the weekend, I take the car and he’s usually home hanging with friends. If he needs something while Im gone, he’ll call and ask me to pick it up on my way back OR he’ll get it himself. We work well independently and collaboratively with each other so we rarely clash around who needs the car at any one time.

Now, when my FIL lived with us I was forced to rent a ZIP CAR a few times because of the trips back and forth to NJ that I did not accompany my husband. So I needed to rent the car to get back and forth to my internship because that location is actually off the beaten path.

What are your thoughts on car sharing?  Do you think it’s something you could get used to?

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Let’s face it, school starts in a few days, the summer is coming to a close and you need to get back into a routine for the fall and winter months. Why not make it easier by getting started on your menu planning now? Here are some tips to get you started with some recipes from a previous post on saving money by utilizing your kitchen pantry staples.

1. Start with the current year spreadsheet, just make sure that it has tabs for each month for easy navigation.
2. Decide how often you want to cook dinner during the week. Personally, I don’t cook everyday, even though I like cooking, I just don’t have the time as I’d like to at this point. So I cook every other day, leave leftovers so that we can have something for the in between days. IF you choose to cook everyday, great, if not that’s fine too.
3. Enter your meals in each day/cell of the spreadsheet based on your time schedule and level of difficulty. During the week I like to add meals that will take no more than 1 hour to completion because I truly hate slaving over a pot.
4. Research meals that take no more than 30 minutes from start to completion, these will be a life saver when you have those unexpected derailments and just need to whip something up quick and easy.
5. In the notes section, add your WEEKLY shopping list of the things you need to purchase. You can start by adding Week 1…Week 2…and what have you…this way you know exactly what you need to buy at the start of each week. You can also find print shopping list templates here.
6. Extra: Add recipes to your spreadsheet like this: Right click on your day/cell, click on insert comment, a text box should pop up, then copy and paste your recipe or make adjustments as needed. Hit enter and your done. Hover your mouse over the cell and VOILA you now have your recipes within the cell for easy reference
7. Email your spreadsheet to yourself or print it out to put in a folder for safe keeping. I like to email mine since that works best for me.

Now for the good stuff:

Click the easy button, pass go and collect ready made recipes!

I found a neat site where users can find recipes by entering an ingredient or keyword. This can be the main ingredient in your recipe or if you have a few items in your pantry and not sure what to do with them. The results give you the recipe and the fat calories, carbs and protein count for each serving. You may need one or two extra ingredients but overall the recipes are pretty basic.

Here are two of the recipes I came across:

Baked Garlic Lemon Chicken

Homemade Beef Stew

Check out a search I performed here for of all things “basil” and “tuna”, I got some pretty tasty results:

(Click to enlarge)

Why menu planning?

• Saves time and money
• You put more thought into creating healthy meals and not last minute fast food options
• You can buy in bulk knowing what you’ll be having for dinner two weeks from now
• Discover new recipes that are healthier and faster to prepare

Here’s the previous post where we shared the basic kitchen staples. Now it’s your turn, share your favorite recipe that you can whip up within 30 minutes to 1 hour.

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The Whole Foods gods must have been listening this week as we adjusted our food budget to only include organic foods.  This means only shopping at Whole Foods and after reading this article, it cinched the decision as the following statement blew us away because my husband and I really try to live a healthy lifestyle:

The FDA estimates that 20 pounds of pesticides are used per person per year in the U.S., and at least 50 of these are classified as carcinogenic.

This was a decision that took some thought given the rising grocery costs but we want to be more responsible in the area of what we put into our bodies.

So what’s a girl on a budget to do?  Well the Whole Food gods made it easier by creating Value Tours!

From the NY Daily News:

Faced with rising food prices and a national recession, Whole Foods has launched free value tours, leading groups of bargain hunters through the aisles of natural, sustainable and organically made goods.

Other Whole Foods’ deals include their house line of 365 shampoos and conditioners (16 ounces for $1.99; 32 ounces for $3.79). There’s their Whole Catch line of frozen prepared foods ($3.99 for a 10 ounce box of fish sticks) or their fresh, 6-ounce individually portioned filets of fish for roughly the same size per pound as bigger cuts, nice for one or two people.

For all proteins — like chicken, beef, pork or fish — there’s a case of family-sized “value packs” that are at least a $1 per pound less. And for literally any dry good item in the store — meaning everything from diapers to spaghetti sauce to bottled water to energy bars — you can get a 5% discount if you buy it by the case.

Beyond these specific deals, however, the tours are also designed to highlight overall strategies for cutting costs on your bill.

They got the message! What this means for the budding Bargain Mama is that Whole Foods is finally recognizing that even those who live on a budget want to eat healthy.

Value Tours are conducted by Whole Foods employees who guide budget conscious consumers through the aisles showin them how to shop at Whole Foods.  Honestly?  I didn’t think that Whole Foods had sales because they are a bit on the expensive side.  I’ve never seen a sale circular so when we shop there, we know to take the hit and keep on moving.

But now, we know that there are sales cards as I like to call them stationed throughout the store in for consumers to pick up as they go along.  Now, they aren’t as in depth as what you’re used to at your neighborhood grocery store, but it suffices in addition to the yellow signs that indicate sale items throughout the store.

Why Whole Foods?  Because Shoppers, Giant and Safeway have all increased in prices significantly in my neck of the woods.  What used to be a $100 grocery run is now $165.  If we’re going to spend that much then we might as well go to Whole Foods and get our main items there.  Non food items we can still get at the grocery or Dollar store.

Before our trip to NYC this weekend I stopped by to pick up some sushi, salmon and my favorite, fruit parfait straight from their bakery.  I did have a talk with the Store Manager on duty and she agreed that it’s important for shoppers to be on the lookout for their favorite and routine items on sale.

Here are some more tips from the article on how to shop frugally at Whole Foods:

USE WEEKLY SALES FLYERS: Like most other markets, says Whole Foods’ value tour guide Allison Smith, the store puts out its new yellow weekly sales sheet on Wednesdays, marking each sales item in the store with a large yellow sale sign. So once you learn what tags are used for sales at markets, you can easily scan the store for deals.

SHOP SEASONALLY: “In produce,” says Smith, “the really big thing to look for is seasonally and locally.” When you buy local food some of the transportation costs have been cut out, she says, and when you buy what’s in season, there’s more of it, meaning the price goes down.

BUY STORE BRANDS: Many house brand items are just as good as brand names, and some stores even contract with the same people who make brand name products to create their versions. They’re often much cheaper than sales items or even post-coupon prices.

BUY IN BULK: If you can buy just the amount you need from bulk bins, says Smith, food won’t go to waste and you’ll save on packaging costs. Or if you can buy in larger quantities, you’ll save on cost per pound or unit, too.

CONSIDER COUPONS: Many times store brands are cheaper than items bought with a coupon, but you should still check out weekly newspaper circulars and mailings for brands you buy regularly.

Great news right?  Do you shop at Whole Foods?  If yes, is it for health reasons?  Do you have any bargain mama tips to share?

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If you recently graduated from college then you’ve been hit with the task of managing your own finances.  You may now have a job with a decent paycheck and along with that comes bills, unplanned expenses and learning to balance your checking account.  During this time you may also be experiencing some confusion, doubt and you can’t shake the feeling that nothing is wrong, but something just doesn’t feel quite right.

Welcome to your Quarter Life Crisis.

It is often around this time that Quarter Lifers can let their finances lapse leaving a trail of bad credit and unpaid bills due to overwhelming feelings around student loans and disillusionment around maintaining a desired lifestyle.

So how does a Quarter Lifer get through this extremely confusing period of life without letting their finances lapse?

1.   Get Organized

This is indeed a difficult time but it is no reason to let you finances lapse in the midst of it all.  Take inventory of your financial obligations and set them on auto pay through your bank or other online bill pay systems.  This way you can let the bills take care of themselves so long as you keep the funds in your bank account.  This includes saving at least 10% of your take home pay as well.  Remember, above all, pay yourself first!

2.  Create a Budget

You may be asking how do I do that?  It’s pretty simple, For the next month, track your expenses down to the penny.  You can do this by using all cash, only your debit card or just tallying up all purchases, bill payments and receipts at the end of the month.   After reviewing your information, decide which areas need improvement and go on a trial run for the next 30-60 days.  This way you gain a better understanding around which areas need closer oversight.

In my case, when I first moved to DC after college, I really needed to watch how much I ate out each week.  Of course I wasn’t the Martha Stewart wannabe I am today and ate out for breakfast, lunch and dinner, which got really expensive after a while.  So take stock of what areas need closer watch then tally up the totals.  Once you have an idea, you set the limits and voila, you now have a monthly budget!

Here’s a copy of a budget spreadsheet you may find useful:

• Personal Budget Spreadsheet

3.  Communicate With Your Student Loan Lender

If you haven’t already done so, call your student loan lender and find out when you first payment is due.  Get information around due dates, grace periods, payment terms, forbearance and in school status.  Depending on your personal/financial sitution you may be eligible to ask your lender for a forbearance just in case you aren’t able to manage payments at this point in time.  Some of you (like yours truly) may owe over 100k in student loans which is like a mortgage payment for most.  Still, Sallie, Citi, AES, KeyBank etc etc want their money.  It is in your best interest to make sure you are on track with this debt.  Like death and taxes, student loan repayment is another certainty in life.

4.  Curb The Shopping!

This includes lattes, the cute empire dress you could get for the after work party on Friday, the heels you don’t need and anything else not deemed a necessity right now.  If you must, give yourself a monthly shopping allowance and make it your duty not to go above it.  This way you’re able to shop and not feel guitly about it.

5.  Talk to Mom and Dad About Your Finances

Quarter Lifers are often caught up in wanting to seem responsible that they forget that it is still OK to ask for help even if they are on their own.  I can admit to calling my mom 8 months after moving here and telling her that my CC debt was unmanageable and I needed help.  She promptly called the credit card company and paid the balance for me and made me promise not to run it back up again.  Sometimes we need help and mom and/or dad are more than willing to help us out.  Of course, not without a stern talking to but it may be the help you need to get you back on the right path and giving you a fresh start.

Of course I do not advocate parents enabling their adult children, however, I am of the mindset that if they can still help out while you’re still getting your feet wet in adulthood, why not?

This is just one aspect of learning how to manage a quarter life crisis, keep in mind that issues around career, identity and relationships  are best handled by a life coach or therapist depending on the severity of the issues.  Your first step is realizing there’s a problem but that it’s totally OK to feel the way you do.  Just try to maintain control in the area of your personal finance so that you’re not paying for it years down the line when you’ve moved past this period in your life.

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Plan Ahead

Granted airline tickets are on the rise but not if you plan ahead. I have several trips planned through the end of the year and we just got back from Florida this week. I found that the closer you get to your intended departure date, the higher your airline fare. However, if you plan at least 3 weeks out, then you’ll save major moolah! The only way you’ll save while closer to your departure date is to take advantage of those last minute trips on travel websites such as Expedia and Travelocity.

Compare Local Hotels and Ask for Ongoing Specials

Decide where you want to go, your preferred amenities and you’re set to go. Once you do that, call the hotels and ask about their ongoing specials, switch your dates if needed to get the specials. At the resort we were quoted $129 a night but we also qualified for the rate of $109 per night if we took a different room as they were on a special. And for goodness sakes USE YOUR AAA discounts and check to see if there is an employer based discount and/or discount based on your credit card company’s reward program.

Ask for Rental Car Specials

Enterprise has a wonderful weekend rate which gets you 50% off their regular rate if you rent from Friday to Monday on most cars. Hotwire also sends frequent email updates on rental rates in your chosen city so be sure to sign up to get the inside scoop. I’ve seen as low as $12.99 for rentals in Orlando,FL per Hotwire.

Ditch The Car Rental

If you’re like me, don’t even bother with the rental. Why? Unless there is a real need to rent a car I don’t bother with it because it’s just an additional unnecessary expense. Our resort had 4 restaurants, Red Door Spa, gym, 4 pools, and a shuttle to the mall, beach and airport.

There were a few times that we wished we’d rented a car but it didn’t take away from our vacation as our family members drove up to see us even thought they were about an hour away. I also make sure that wherever we stay that it has an abundance of amenities that keep me occupied such that I won’t need to get a rental car and explore the area. And, if you get cool with the shuttle drivers they’ll let you know when they are leaving the property and drop you off somewhere local and then pick you up on their way back as a favor to you.

Ask for a Small Fridge-Microwave Combination

In this situation we did two things. We went to the local supermarket and got lots of fruit, snacks and veggies so that the only meal we really paid for was dinner. Then the next day we were able to heat up leftovers put in the fridge from the night before using the microwave.

Now, we could have gotten a room decked out with a full kitchen and sink but the extra cost exceeded the savings we got by just asking for a small fridge-microwave combo (think the ones you got in college) to be brought up to the room. The hotel food was so frikkin good that I had to resist eating there every meal. This saved us quite a bit of money.

Check Your Final Bill

This is very important. We found quite a few charges we hadn’t made or agreed to on the final bill and requested for them to be removed. Much of how you save money on your trip revolves around your power and ability to ask for these discounts or to have unnecessary charges removed from your bill. This is also important when booking your reservations. If you know that you will not use the gym but there’s a charge for using the facility then ask that it be removed.

Again, the power of asking saves you money. They’d rather have you pay for the room than lose your business because of miscellaneous fees they know that most guests just pay anyway because they are too afraid to ask what they are and for them to be removed. This is your money, act like it!

Staycations are great, and I recommend them if your budget is tight but you can still travel at last year’s rates if you plan carefully, research your discounts and utilize your ability to save even more by asking!

What are your summer travel tips? How are you saving money on your vacations this summer?

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More than likely you know someone graduating high school and heading off to college this fall. After getting over the shock of the first year’s tuition bill, they’ll be in need of some frugal tips to get by while living on campus.

Tuition.

Reduce tuition costs by:
1. Attending a local state school

2. Getting a job at the university and let them foot the bill as most institutions do for full and part time employees

3. Applying for grants specific to your major, merit based, financial need and state based. For example, VA gives a grant for all graduate students in good standing at any accredited university.

Room and Board
1. Apply to be a resident assistant. This is one of the most rewarding positions you’ll have in your college career. Not to mention that it totally wipes out the room and board portion of your tuition bill. The position entails you being responsible for a certain floor or building on campus. You plan activities, programs and on some campuses police the dorm at night by being available should an emergency pop up such as a party getting too wild and residents become intoxicated to the point of alcohol poisoning.

2. Get roommates. If you can tolerate living with multiple people in one room or suite this greatly reduces your tuition bill than if you lived solo on a studio or only had one roommate. I lived with 7 other women before becoming an RA in my freshman year.

3. Get an apartment off-campus. This might require a cost benefit analysis but with the rising cost of room and board across the nation it might be worth it (if your campus lets you do this in your first year) to rent an apartment off campus. I’d probably recommend this to a second and not a first year student as I think freshmen need the guidance and structure of living on campus their first year away from home

Transportation
1. Don’t get a car. Why? You don’t need it. It doesn’t matter if mom and dad are footing the bill, wait until your junior year but in your first year, it’s really just for show unless you have a job that requires the use of a car.

2. Utilize the university transportation system. This includes the on campus shuttles and local buses. Transportation abounds in college towns so this shouldn’t be a huge problem, just familiarize yourself with the times and routes.

Money
1. Open a bank account.

2. Do not accept those silly credit card offers from reps offering you free pens in exchange for credit.

3. Get a part time job. Save 30% of your income unless you have major expenses. A work/study position would be ideal and wish I’d accepted one back in college.

4. Buy your books USED at least 6 weeks before classes begin from Amazon Marketplace, Ebay, Half.com and Abebooks.com

Moving on to this new stage in your life can be daunting at first, not to mention expensive. Save diligently and spend wisely but most of all have fun as you’re now in the bosom of self discovery. You are now beginning what will probably be the best times of your life.

Do you have any advice for students heading off to college for the first time?

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Have you been depressed around the impending recession or how we’re stuck in stagflation? What if there was a way to bulletproof you finances with lessons from the recession? Well, if you ever wanted to get tips on how to solidify your finances during this depressing time, this post is for you.

There have been numerous articles discussing the state of the US economy today and why we are closer to a recession more than ever. You can read more about why we are closer to a recession, here.

So how do we ensure our finances will be ok even with all this talk of economic doom and gloom? We go back to basics and put it in overdrive. Think of it was Personal Finance 2.0 if you will. Not only will we have to think about how to find cheaper alternatives for the things we love, but we have to make sure we increase our emergency funds, cut back on our favorite non necessity items, increase our income and re-evaluate our current job situation. All of which we will discuss here:

Find Cheaper Alternatives

I discussed Cheap Alternatives for the Must Haves in your Life previously which can be found here: Part One, Two, and Three. Some may consider tightening things up financially and decide if some must haves are necessary in the following areas:

• Cable/Internet/Phone
• Gym Membership
• Mobile phone plans
• Trim Grocery/Food Costs
• Cut Down on Eating Out
• Revamp Your Wardrobe with Minor updates, not the typical seasonal overhaul (I’m guilty of this!)

Increase Your Emergency Fund

If you haven’t already started an emergency fund then you need to start one ASAP! An emergency fund should be funded to cover at least 3 months expenses but I would recommend at least 6 months during these times. You’re probably saying how can I increase my emergency fund unless I get a part time job? Well you’re right. I do suggest that you can get a part time job that won’t be as taxing as you primary job may be. Some include:

• Dog Walking
  • There are many companies here in the DC area that are actively looking for dog walkers and pay on average $16/hour. You generally have to be available in the mornings, midday, evenings or weekends. Most companies are flexible because some of their walkers are people with full time jobs. Yours truly plans to take on a PT dog walking job to earn extra money and get in shape! So it’s a win-win situation.
• Get a Telecommuting Part Time Gig
  • Rat Race Rebellion and Work Place Like Home are EXCELLENT resources for jobs that don’t require you to commute into an office thereby saving you time, energy and gas. Some companies include VIP Desk and 1-800 Flowers.
  • Mystery shopping pays pretty well depending on the company you sign up with. Keep in mind you should never pay to become a mystery shopper unless it involves notarizing you paper work. Check out the Volition Forums for companies hiring right now.
• Work Overtime
  • Check with your employer to see if you’re eligible for overtime to able to take on some extra projects. This will increase your paycheck and gain points with your employer.
• Part time Evening and/or Retail
  
  • Some retailers tend to hire seasonally and some just need the extra help throughout the year. Check with your local malls to see who’s hiring and if the hours are a suitable fit for your current schedule
• Other ideas…
  • Have a garage stale
  • Sell old or unused items on Ebay
  • Set up a staging and/or de-cluttering business helping sellers get their homes together or a family to de-clutter their home, I’d certainly do this if I had the time

Reduce Consumption

• Especially in the areas of utilities and gas. Can you seal your windows and set your thermostat a bit lower during the day? What about planning your day so that you get everything one trip instead of just driving around every time you need something wasting more gas and time. Think about the different areas where you can cut back and put that money saved towards your emergency fund.

Pay Down Debt

• This goes without saying but warrants a mention. Single Ma posted a really great YouTube clip, Maxed Out which discusses the use of credit card debt as modern slavery. This means that you’re working just to pay off a debt, when we really want to be working to increase our wealth.

Re-evaluate Your Current Job Situation

• Pay attention to company news and any changes in your company policies which may be an indicator of their financial health.
• Start networking with others in your industry to get a sense of what jobs are available. Here in the DC metro many jobs are gained by who you know, not by what’s on your resume.
• Don’t Burn Bridges. Ever. Even if someone burned a bridge to you, always keep that door open. You never know when that person may come through for you in the clutch, they may be your saving graces during these times.
  

There are important lessons to be learned about the impending recession. It teaches us that we should always be on the ball regarding having an emergency fund, reducing areas of excess and remaining mindful of our job situations so as to mitigate any unforeseen events. After all we don’t have control over what happens but we can at least be prepared for it.

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I moved to DC in 2003 and I remember talking to my Uncle about all the things I’d need to take into consideration on my meager salary. He wanted to make sure that I was well informed about the realities of adulthood which meant being independent and paying for everything on my own. Now its my turn, for those of you that are graduating high school, college or even graduate school, here are 8 frugal and cost cutting tips to take into consideration when spreading your wings.

Apartment

Consider the cost of living wherever you are headed. After living in NYC for most of my life and then moving to DC, for some reason I thought apartments were dirt cheap since I was moving to the “south”. Ha! I told my uncle that I’d found an apartment for $580 per month in NE DC (not knowing a lick of information about the area mind you…) he just agreed to take me over to the area to judge for myself. While he got a hearty laugh, as I realized we were now in the not so great part of DC, I almost broke down when I realized that where I actually wanted to live, Alexandria/Arlington, VA was more like $1100 per month.

I knew that was out of my budget and regretted taking the position because I wasnt able to afford to live in one of the better parts of town. I didn’t want a roommate and settling for NE DC (no offense anyone) wasn’t in the cards. Looking back I should have considered a roommate in a better part of town. What did I do? I chose an apartment in an OK part of town for $750 per month and lived solo. I’d never live there again but it worked for the time being and I was able to save money.

Lessons Learned:

• Visit the new city before signing a lease or settling on a particular part of town.
• Consider having a roommate or two, as this greatly subsidizes the cost of living in a better part of town while meeting new people
• If you aren’t splitting utilities, find an apartment that includes utilities in the rent. With rising utility costs you’ll avoid paying the high heating/energy bills depending on the season.

Transportation

DC is very different from NY in that people who move here aim to live near their place of employment, while in NYC, its pretty normal to have a 90 minute commute to work getting from Queens to Manhattan. Imagine my excitement when I figured out that my commute would be 20 minutes max! Well that’s because my apartment was walking distance to the metro and I was also 5 minutes from the beltway. If I drove in then my commute increased to an hour because of the traffic getting into DC.

Lessons Learned

• Choose an apartment or house within walking distance of public transportation the metro
• Forgo purchasing a car if you live near a metro as this will save you money on a possible car note, parking, fees, gas, insurance and maintenance
• Before signing the lease, take public transporation around your neighborhood and to work as you would on a typical day. As you get settled in, you’ll be familiar with the area and hopefully not skip a beat as you make your way around your new neighborhood.

Set Up Automatic Bill Pay for all Bills

This includes student loans and credit cards. Don’t risk getting hit with a late fee because you’ll get so caught up in your move that financial obligations fall through the cracks. As I got settled into my new apartment a few bills didn’t get paid because I totally forgot. Why? the credit card company hadn’t sent the statement to my new address and it slipped my mind to call and pay the bill. Also keep in mind that when you pay over the phone, most credit card companies charge you a convenience fee and using checks opens yourself up to identity theft and possibly not mailing the payment to the correct address. If you must use snail mail, use the envelope that accompanies your statement.

Lessons Learned

• Set up automatic bill pay to ensure on time payment of all monthly financial obligations
• If you must use snail mail, use the enclosed envelope that accompanies your statement

Compare Cost of Living with New Salary

This was one of my biggest mistakes when moving to DC,not understanding what my salary would afford. I saw $23, 000 and thought, oh Im rich! I was sadly mistaken and in for the shock of my life when I realized I didnt have enough money to go shopping for new clothes or eat out for lunch with my colleagues. Had I known how to negotiate a better salary I might have been in a better position once I moved here. While I know some believe in paying your dues, I believe strongly in paying the bills. And, after spending 4 years and amassing thousands in student loans, college graduates should command salaries that will keep them just above the working poor, ie living paycheck to paycheck.

Command what you are worth and don’t settle for a salary that will limit you in terms of quality of life and being able to pay your bills, save and live comfortably.

Lessons Learned

• Master the art of negotiating your salary if the offer falls below your target goal
• Compare the cost of living with your salary offer and determine if you will be able to save and cover your monthly expenses without having to eat Ramen Noodles every night
• Use the Paycheckcity calculators to determine how much money you will actually take home every pay period

Sign up for a Local Food or Grocery Charity

The cost of groceries here in DC is higher than NYC. *shrug* Don’t ask me why as I thought the opposite would be true, I was quite surprised after leaving my local Giant supermarket one afternoon. Neighbors told me about Sharedc.org which allowed me to get groceries on the cheap at $18 a bag. This included fruits, veggies, meats and some snacks. It was enough to subsidize my grocery spending significantly. I still toy with the idea of doing the same thing now given the rise in food expenses.

Lessons Learned

• Compare prices of your food staples and create a price book to help you keep track of your favorite items
• Sign up with local food charities like ShareDC.org or Angel Food Ministries
• Cut coupons from the Sunday newspaper to save even more money
• Utilize sites like The Grocery Game to compare local sales in your area
• Buy in bulk in addition to utilizing food charities
• Plan your meals for the week and use leftovers for lunch

Decorating Your new Diggs

While I was on a Ms Independent kick, my mom did purchase my first bedroom set and my uncle purchased all of my kitchenware, bedroom and bathroom linens. I went for a while without real living room furniture because I refused to go into debt for furniture I wouldn’t take with me to the next apartment. I advise you to o the same. I scoured Craigslist for a futon frame and bought a cheap futon mattress from a retail store, bought a 20 inch TV for $30 and a coffee table set for $55. My living room was now complete! All courtesy of Craigslist.org. My futon doubled as a bed whenever friends stayed over and I had a working TV along with a semi new coffee table set. Had I gone out and purchased a new living room set it would have set me back over $1000.

Lessons Learned

• Check into semi used furniture to cut on the cost of furnishing your new space

More Lessons Learned….

• Spend Less than you Earn while Devising a Plan to Earn More
  • Create a budget and stick to it. Know how much you need for monthly bills and how much you have remaining for discretionary spending. While keeping this in mind, remain focused and purposed in devising your next step. Set career goals that will enable you to be promoted by learning new skills through graduate school or taking on extra responsibilities.
• Buy New Work Clothes on the Cheap and Recycle What You Already Have
  • Stores like Charlotte Rousse, Forever 21 and H&M are a godsend in helping a fab fashionista remain updated on the cheap

While this is a new and exciting time in your life, make a serious attempt to reign in your spending habits as this will be useful as you learn to make better decisions when it comes to money. What are some tips you have for the new graduate in a new town? How did you handle your finances in your first year after college?

photo credit: CarbonNYC

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I find that one of the greatest ways to save money is cooking at home. I have friends, male and female, who dine out for nearly every meal: breakfast, lunch, and dinner. They certainly have a good time eating out, and they do eat well! However, this is an expensive habit. What I think they fail to realize is that you really can prepare great tasting, restaurant-esque meals at home quickly and with minimal cost. I regularly make inexpensive meals that take less than half an hour of preparation time, with enough leftovers to eat for the next few days. When these same friends visit my home for a dinner party, they are enthralled with the menu. If only they knew how little I had spent! Further, when I prepare meals at home, I can create a variation of that meal and carry it for lunch the next day (i.e., baked chicken = chicken salad sandwich, chicken quesadilla, or a grilled chicken caesar salad).

There are many reasons people don’t cook at home, with fear/ignorance of the kitchen and limited cooking skills among those reasons. However, I believe that the biggest obstacle that prevents people from affordable home cooking is that they don’t have a kitchen that is stocked with basic staples. So they end up having to buy every single ingredient at once when they finally decide to try cooking something at home. The idea of this becomes so daunting for people that they ultimately throw in the towel and decide to order take-out. This is what I deem a “lose-lose” scenario. Not only does frequenting restaurants or ordering take-out daily add up, in terms of cost, but take-out food is usually higher in calories and loaded with a whole bunch of other “junk” that we really should be avoiding.

To prevent this “lose-lose” scenario, I suggest that you prepare in advance and begin to stock your pantry shelves today with the basic staples. By “staples” I mean ingredients that a lot of recipes call for, that will keep for a long time. We’re talking about making a very small investment that will ultimately allow you to create delicious meals with minimal fuss. The best part is that all you need spend is $150 and you may begin this process of stocking your kitchen with the basics! So, ladies, by sacrificing that one visit to the day spa for your monthly microdermabrasian you can cook at home for weeks on end.

Will this really save me money? It certainly will! It’s really quite simple. You see, when you already have certain basic staples stocked in the pantry, you are more likely to opt for home cooking rather than eating out. The reason: the ingredients are already on-hand and, thus, preparing your choice meal requires little to no effort (e.g., trips to the grocery store). With each trip to the grocery store you can add more to your repertoire of kitchen staples. I think you’ll discover that, not only are you saving money, but home-prepared food is much more delish than restaurant-food!

Here is my shopping list of staple ingredients for a well-stocked kitchen.

Baking
All-purpose flour
Baking powder
Brown sugar
Condensed Milk
Corn meal
Corn starch
Evaporated Milk
Vanilla
White Sugar
Yeast

Herbs & Spices
Black pepper
Chicken bouillon cubes
Cilantro
Cinnamon
Crushed garlic
Garlic powder
Green seasoning (found in the international aisle of grocery store)
Nutmeg
Oregano
Onion powder
Sea salt
Seasoned Chicken Breader by House Autry

Oils, Stocks, Condiments
Beef stock
Chicken broth
Lemon juice
Olive oil
Red wine
Soy sauce

Tomato sauce
Vegetable oil
Vinegar
White wine
Worcestershire sauce

Miscellaneous
Cream of mushroom/celery/chicken soup (canned)
Pasta
Rice/Couscous

Ladies, what are your kitchen staples? What are those “must have” ingredients that you keep stocked in the pantry at all times?

Ladies, what are your kitchen staples? What are those “must have” ingredients that you keep stocked in the pantry at all times?

Share your own “frugal” kitchen tips with us!

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Admit it. Being frugal isn’t something that you look forward to, after all it means that you’ll be giving up or cutting back on some or all of your favorite activities. What if you found a way to cut back without giving up those things completely? And best of all save money? I’ve compiled a list of cheap alternatives for the must haves in our lives and its pretty good if I do say so myself!

Retail Therapy Shopping

Gather a list of websites that put together the look for less, here are a few of my favorites:

• Fashion under $100
• Frugal Fashionista
• Frugalicious
• The Budget Fashionista

Also, try out this list from Fashion Under $100. These stores provide trendy options without breaking the bank:

• Go Jane!
• Goody’s
• Hot Couture
• In My Shoebox
• Kohl’s
• La Redoute
• Lady Language
• Love My Shoes
• Lulu’s Fashion Lounge
• Mandee
• Mango
• Metrostyle
• Newport News
• Old Navy
• Onatoko
• Rampage
• Reitman’s
• Shop Lush
• Smart Bargains

Tip: Check out annual and semi-annual sales and buy clothes at certain times of the year. For example, after Christmas/New Year’s and at the end of every season many department stores seek to unload their inventory so we benefit because of the deep discounts.

Cable TV

Apple/iTunes is your friend. If you’re always on the go and never at home to watch your favorite episode anyway, dump the Tivo and your cable company then plug in to iTunes. iTunes allows you to watch your favorite television shows online for a small fee, $1.99. For example, Lost, Greys Anatomy and Boston Legal can be bought per episode for $1.99 which equals $24 per month. A benefit for you is that you get to watch them sans commercials and on your own time. Apple also now offers movie rentals from $2.99-$3.99 and HD for a dollar more.

If that doesn’t work for you then hang out at a friend’s house, go to your local sports bar, or join a meetup.com group that gets together to hang out and watch popular network shows. This option really appeals to me as I am moving towards not scheduling my life around entertainment in an effort to become more productive.

Tip: Most major network shows can be watched FREE on their respective sites such as ABC, NBC and the like. You’re able to catch up on all the episodes you missed without paying hefty cable access fees.

Automobile

One thing I love about living in a major metropolitan area is that we have so many options for getting around town. Zip Car is an option for those of us who only need a car infrequently which doesn’t warrant taking on a car payment, insurance, gas and maintenance which can be costly. Makes sense right? Zip Car rates start at $50 per month for the extra value plan, 9/hr or $66/day for occasional driving.

Here’s a map with their current locations:

This way you’re able to have the convenience of a car without the monetary commitment. The access fees pay for gas, parking and insurance! You can’t beat that!

Other options include biking to work, using public transportation and carpooling. The latter brings to mind an awesome service facilitated by Erideshare.com. Just pull up your state and connect with others carpooling in your area. From the website: “you’ll find this service a good way to commute or travel inexpensively, and maybe even make a few friends.” I think it’s a neat idea, especially if you’re new to town and looking to save money, this is a great option.

Now if you must have a car, then buy it used or another kind of used car becoming popular amongst the frugal, Beater Cars. Why? According to Beater Review, buying new is for suckers! Love that! But with a new car depreciating 20-30% in the first year it makes perfect sense. Check out this review of the Mazda Miata, the ultimate chick car, or not. This saves you extra money on insurance and in most cases won’t have a car payment. Also, check out this article on MSN Money-20 ways you waste money on your car.

Tip: Make the best choice for you and your situation. Everyone doesn’t live hear a major metropolitan city with the benefits of a Zip Car but buying a car that won’t have much out of pocket expense or carpooling may be another option suitable for you.

Eating Out

We’re guilty of this especially with our favorite restaurant and when we hang out in a new part of town. Cutting back in this area takes discipline and maintaining your perspective: saving money. A few alternatives include:

• Potluck with friends
  • This is a great way to hang out with friends and try out new dishes. If there are leftovers you can bring on the Tupperware to pick up some leftovers for work or dinner the next day.
  • For the uber frugal-I know a couple who potlucks with friends every other weekend. They get together on Sunday and bring large portions of eat least 3 meals. Of course the larger the group the better the selection. They get together eat, laugh, get merry and help each other save money by cooking in bulk and using it for their lunch and dinners during the week. Some get even more creative by turning leftovers into “planned-overs”.
• Make your favorite restaurant meal at home
  • There was a time when I was obsessed with anything Jack Daniels at T.G.I Fridays. I would go for a long lunch at work and later during the week for happy hour. It got expensive until I got the recipe and made it from scratch at home. Bingo! Money saved

Tip: Check out J.D. over at Get Rich Slowly, he has great tips on how to save while eating out here.

What do you think of these alternatives?

Which ones do you employ in your own quest for frugality? Feel free to add yours in the comments section.

Most Commented Posts

• Cooking at Home with Basic Kitchen Staples Saves You Money
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