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Geek Culture / New pad, new job, less cashmonay

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Megaton Cat
21
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Joined: 24th Aug 2003
Location: Toronto, Canada
Posted: 3rd Nov 2007 06:16 Edited at: 3rd Nov 2007 06:17
Hello homies

I've finally made the move from my suburban creep hole to the downtown area close to my school. I switched jobs to a big retail store here in the Eaton Centre.

Seeing as I spent this entire time getting free rent under my folks, I've been throwing money around like nobody's business. (Steady paychecks and next to no bills really makes it seem like you got all the money in the world to blow) I spent ungodly amounts a month on eating out and various other "expenses" that happened to come up.

Basically looking for tips/advice on how to budget so I won't starve. I've mostly budgeted everything out so far, rent/food/internet/cellphone etc but was interested in how folks went about getting good groceries without getting evicted in the process? How much did people find they were spending on "entertainment" a month, even though they didn't think they would spend that much?

I don't drink much anymore (with the occasional few beers once a month), and I don't smoke cigarettes or pot, or even drink any coffee, so I'm pretty much set in terms of money saving and staying healthy. (Combined with martial arts training and weight lifting)

General tips and funny first-time-moving stories would be good.

Jess T
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Location: Over There... Kablam!
Posted: 3rd Nov 2007 07:54 Edited at: 3rd Nov 2007 07:58
Living at Uni, and having barely any money teaches saving skills.

Basically, if you plan to spend money on something, allocate so much (eg, $50 for a night out, even though you don't drink), and do not go over it.

As for food, shop at the supermarket that is the cheapest without sacrificing quality. Find a couple of dishes you know how to make, then look for differing ingredients that can make it cheaper.
Don't buy already prepared food, it is usually more expensive in smaller packs. Learn how to cook, even if it's only simple things.

It's good to learn when the specials are on at the supermarket too, like when the meat's about to go off, so they reduce it, you buy it cheap, then freeze it.

"Entertainment" doesn't fit into my budget (don't play/buy games, go to the movies, or any of that). Instead, I do free things. Like playing frolf every day, or being a member of the Uni's Ultimate Frisby team.
Simply kicking back with mates in their dorm room (or apartment) is enough. Chat, watch TV, tell some jokes, etc. You don't need to spend money to have fun

Internet here is charged by the MB, so I have to watch what I d/l.
Phone charges are never too high as I have gotten onto a pre-paid deal where I can call other phones on the same network for free. Talk for as long as I want to almost all my mates, and my parents.

Basically, just think about it.

You'll hit times where your fridge will be empty, and you can barely afford rent, but don't worry - as long as you can just scrape by, whatever it was that put you out of pocket can be taken as a lesson to avoid next time.

Oh, and if you can, build up a contingency reserve, so things like sudden car costs, or a doctors visit, etc, don't set you back too much.
That reserve level should be part of your normal savings money (so it's easy to get at), but always set yourself a limit of how much you want to have in your account, like for me, I have a $1000 set that I try not to go under (actually sitting at $2000 now, which I'm really happy about!).

[EDIT]
Oh, and extra money that you have/get is not spending money. It is money that goes toward expenses, regardless of how 'under control' you have everything!

Nintendo DS & Dominos :: DS Dominos
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Osiris
20
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Joined: 6th Aug 2004
Location: Robbinsdale, MN
Posted: 3rd Nov 2007 08:22
One word.

Ramen.

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Hobgoblin Lord
19
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Joined: 29th Oct 2005
Location: Fall River, MA USA
Posted: 3rd Nov 2007 08:40
A few things that can save cash and time.

Pre prep: example if you like french toast. Get a loaf or two of bread and cook it all, eat a few store the rest in the freezer. cooking in large batches can save time and money, just pop them in the toaster later and you have what someone like Eggo will charge you 10 times the price for the same amount. It also lets you have a more solid meal when you have 10 minutes to eat before you leave for class and only have to wash the pan once.

Prepare for the worst: if after you budget out your cash you have $100 left for the week for whatever, put half aside for the week you get sick and miss work, have an unexpected bill etc.

Find someone to split stuff with: Often you can save cash by buying bulk or large packs but do you really need all 48 rolls of toilet paper? find another person or two at Uni and split larger packages, you get the same deal without shelling out as much.

Kill uneeded expenses: Caller ID on the phone, 500 cable stations when you only watch 6 channels etc. the 1.95 a month you save in twenty or 30 places really add up.

Live below your means: even if you can afford the $400 stereo system (or whatever) if you can get something that does something close to the job for less do it. Avoid living paycheck to paycheck. Unless it is an absolute emergency or dire necessity avoid purchasing anything you can not pay for on the spot.

Know you bank: so many banks have little fees that add up, if you use an ATM alot choose a bank with machines near you to avoid extra charges. In the US the average person spends something like $26 per month in extra bank fees.

Hope these help if you are looking for more I can share other tips.

Osiris
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Location: Robbinsdale, MN
Posted: 3rd Nov 2007 08:45
Ugh stupid ATM fees. There needs to be a law or something that prevents those stupid things, also, more ATMs need to put out 10$ and 5$ bills. I hate it when I have like 19.99$ left in the bank before more money is added to my account and there is a 1.50$ "transaction fee" and suddenly thats a 35$ "1.50$" transaction fee. Its all bull.

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Hobgoblin Lord
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Posted: 3rd Nov 2007 08:47
^^^^^^^^

POint remembered, Know your bank balance.

Megaton Cat
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Location: Toronto, Canada
Posted: 3rd Nov 2007 17:49 Edited at: 3rd Nov 2007 17:57
Thanks for the suggestions thrown out. I believe I'm actually pretty good with teh cashmonay, because I planned out excessively prior to moving. (In comparison to some of my classmates, who have only moved out and are already 2k in debt)

I managed to graduate high school half a year yearly, which allowed me to work full-time and save up a good several k's. I work a steady 25-30 hours a week, so I don't usually worry if the next cheque will cover me. I don't own a car, and simply bought a student discounted metro pass for subway/buses. Please note that I don't live on campus as my school is so downtown that there's literally no room for a campus.

I think I got my meal planned pretty much settled now. I've got pretty good knowledge of athlete nutrition and basic cooking from 2 years of Food/Nutrition courses in high school, so I'll be buying stuff in bulk and mixing it up every week. I had to shuffle a lot of expenses aside to cover my $85/month gym membership, which 95% of students living on their own don't bother with. I'm not gonna be one of those people who quits because he doesn't have the money or time.

Basically I'm doing all of this to avoid taking out student loans. I don't quite know how long I'll be in school, or if it'll all even pay off in the end, so I'm not taking chances. (In 4 years, the graphic design industry might change sharply, and I might just be screwed)

I'm not really one who needs a lot...no cable, as I hardly watch TV, or just download episodes of decent shows. As cheesy as it sounds, but training is my entertainment...the drinking/party scene isn't really for me. As Jess said, I'd get together with close friends from time to time where alcohol is involved, but spending craploads of money on booze with classmates who often turn out into dicks anyway isn't the greatest thing out there. There rest of my time I just spend seeing my gf. I also have some uber highspeed internet where I don't have to watch my bandwidth, because I split the cost with other student roommates. (Which comes out to something dirt cheap for something so fast)

Jeku
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Joined: 4th Jul 2003
Location: Vancouver, British Columbia, Canada
Posted: 3rd Nov 2007 21:26
Interesting, I thought Eatons went out of business years ago

For budgeting I wrote a PHP/MySQL budgeting solution back in 2001 and I still use it every week for managing all my bills. I also use Google Calendar to track when all my bills come out, and I pay off half the bill every paycheque (paid twice a month).

CattleRustler
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Location: case modding at overclock.net
Posted: 3rd Nov 2007 21:57
the worst thing to have is any debt. School loans is one thing, Im not talking about those, but for f sake dont rack up stuff on credit cards. hopefully you moved out of mama's with zero balances on any and all cc's. take all them cards except one with a low fixed rate, and melt the rest with a blow torch.

and I like the Ramen advice too, watch the sodium tho



My DBP plugins page is now hosted [href]here[/href]
Agent Dink
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Posted: 3rd Nov 2007 22:06
Ramen FTW... but yeah, lots of salt... limit yourself to one or 2 servings a day and stay away from anything heavily salted thereafter ^_^

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Osiris
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Joined: 6th Aug 2004
Location: Robbinsdale, MN
Posted: 3rd Nov 2007 22:45
I recommend Chicken flavored Ramen. Its so delicious and cheap, cant beat four packets for a dollar! Also it's like pure fiber, with some spices.

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Megaton Cat
21
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Joined: 24th Aug 2003
Location: Toronto, Canada
Posted: 4th Nov 2007 01:26
Quote: "I thought Eatons went out of business years ago"


Quote: "Wikipedia:
"In terms of the number of visitors, the shopping mall is Toronto's top tourist attraction""


Pft...you out of sync west coast monkeys.

Keo C
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Location: Somewhere between here and there.
Posted: 6th Nov 2007 05:04
Quote: "I recommend Chicken flavored Ramen. Its so delicious and cheap, cant beat four packets for a dollar! Also it's like pure fiber, with some spices."

4 for a $1! I can get 10 for a $1, you got ripped off.


Osiris
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Location: Robbinsdale, MN
Posted: 6th Nov 2007 05:06
4 for a dollar at Super Valu. Im not sure he could get to sams club but its like 5$ for a create of it there!

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Nack
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Posted: 6th Nov 2007 05:30
oh cool, you work at eatons center too? i work there too, one of the store there anyway lo

if you want cheap food, i recommand the place beside that mall, the underground food court beside it. =]

all the best
nack


Nream is DONE! 3D Adventure Maker
tha_rami
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Posted: 6th Nov 2007 05:43
In my opinion, Jess really nailed it here.


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Megaton Cat
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Location: Toronto, Canada
Posted: 7th Nov 2007 05:29
Nack, that's pretty sweet. I've done down there actually...the food is crazy expensive though.

I've been living on my own for aprox 3 days now...and I've already gassed a ton of money on star up costs. I just bought a new fridge, and will be working it off for months to come.

Jess T
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Posted: 7th Nov 2007 10:46
Quote: "just bought a new fridge"


There's your very first mistake.

Go around garage sales, boot sales, markets, anywhere, and find second-hand stuff.

Do not expect to live in luxury.
Sit on cushions on the floor with a blanket.

Prop the TV up on milk crates.

Make a Bean-bag (very cheap, and a great peice of furniture).

Ask everyone one you know if they have an old microwave you can have for $20, or a kettle, etc, etc.

Buying new is just silly unless you already have a large saving just for that very specific purpose!

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Megaton Cat
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Location: Toronto, Canada
Posted: 8th Nov 2007 15:55
I have no problem buy used stuff. But for something like a fridge, I didn't want to take any chances. It was an extreme pain in the ass getting it to my place as I have no car, and I'd rather buy a new fridge that would guarantee to work for several years then buy a used one that might screw on me, screw up my food plan, and put me off a bunch of dollars and time.

Zombie 20
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Location: Etters, PA
Posted: 8th Nov 2007 16:13
Jess really smacked it on the head there so I'll just paraphrase a bit.

Having lived on my own for about five years now I know that it can be difficult, but it is not impossible and you will do fine if you just stick to that budget. I saw you mentinoed you were burning through your money like no tomorrow, don't know if you're an impulse buyer like me but I have to work very hard sometimes to not go buy that shiny new console or spend 300$ for a super DBP package.

Cooking, please please learn how to do it, and do it good . Ingredients are cheaper, healthier, and its an invalubable skill.

Nothing bad about used furniture.

Ah..you'll be fine, and as jess said, if at times you just scrape by, be prepared with a fallback account, perhaps take that "fun" money and instead of using it save it. I'm not sayind do an all work no play but you gotta be ready even if nothing happens its really good to know you could be. I myself have two accounts, one for my bills and one for a complete savings, in three years I'll have over 10,000 in my savings. Being secure was never something I thougth I could appreciate until I was older.

Good luck and we'll be here if you need us. Seriously.

Zombie

Dr. Mannete- OMG It's Zombie's voice, it's so Suave!

Jess T
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Posted: 9th Nov 2007 01:34
My fall-back money just saved me!

I got hit with a $1600 accommodation bill I wasn't expecting at Uni.

Paid it off without a worry since I had the money sitting there.



Nintendo DS & Dominos :: DS Dominos
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