Transportation is the second largest expense after housing for the average person, costing $8,344 a year or $695 a month according to the 2005 Consumer Expenditure Survey.
Three years ago I sold my car. I calculated that I was spending roughly $550 (roughly $400 in cash expenses such as parking, gas etc and an estimated $150 in depreciation) a month when I owned a car. The problem was, that living in the middle of a city, I hardly ever drove. On average I only used my car three or four times a month. Yes, I was spending nearly $150 a trip, and to make things even worse my car was in a garage 8 blocks from my apartment!
I eventually came to my senses when I kept seeing the signs for car sharing services. At first I resisted the idea - what it I needed a car and there wasn't one available? Are there cars close to me? What if I hate the selection? What if there is a major natural disaster and I need a car? Yes, I actually thought of that.
After looking into the services, I signed up for a trial run with Zipcar. They had cars close to me, seemed to have a good selection of cars and the web interface was pretty easy to navigate. I parked my car at a friends house and gave her the keys to hold for a month to see if car sharing would work for me.
At first it took a little getting used to, the idea of consciously planning a trip and everything I was going to do was foreign to me - and I think most Americans. We're so used to hopping in a car and going shopping or whatever for as long as we want. Now, I had to plan my shopping trips. Weird. How long does it take to go grocery shopping, or to Target or to the mall? What do I do for day trips or extended road trips?
It turns out planning was pretty easy. Grocery shopping is a hour and half, add another hour and an half if I want to also go to Target. For trips it depends on how far away it is. Within a range of roughly $225 miles and it's cheaper to use Zipcar, beyond that and I usually rent a car from a traditional car rental company.
Financially it has been a great move. I no longer have to worry about the daily price of gas, insurance, or maintenance issues - all of that is included in the price. my current average car cost is roughly $100 a month which includes an average of one longish day trip a month. I was able to sell my car and use the money to fully fund my cash reserve and the extra monthly cash flow is being used to fund other saving goals and also invest for the future.
Using a car sharing service isn't for everyone. If you don't live in an urban environment or even if you do but you happen to drive a lot then it probably wouldn't be cost effective. But for a myself and a lot of other people in a similar situation using a car sharing service is a way to simplify your life and save a lot of money.
Monday, December 14, 2009
Wednesday, December 9, 2009
Breaking into the 10c's and the importance of being patient
Today I went climbing and completed a 5.10c, and almost had another one. I would have completed the climb but with only 3 or 4 moves to go I suddenly rushed myself, miss-stepped and fell. I quickly got back on the wall and finished the climb but it's not a completed climb until I get to the top without falling. I sometimes fall into the bad habit of losing my patients trying to rush a climb as I get close to the top, this isn't the first time I've fallen because I rushed, I need to remember to stay within myself and to move slowly and deliberately rather then go as fast as I can.
The 10c I completed was a great climb. I did make deliberate movements, I took the opportunity to rest and re-chalk my hands when the course allowed me to and I made it to the top. It was challenging but a very fun climb. Unlike some routes that you climb once and never go back to, I can see myself climbing this one several times and enjoying it each time.
Of course climbing isn't the only place you should stop yourself from rushing. When it comes to spending, rushing is often your worst enemy and being patient can be your greatest ally. When you're making a purchase ask yourself if it's a want or a need. if you truly need something then you should buy it, but if it is a want you would probably be better served to wait. You may be able to find the exact same thing cheaper on-line, find a coupon to the store, find a substitute item that is less expensive or you may decide that you don't even want it anymore. You may not get the instant gratification of making the purchase but the cost savings will be well worth it.
The 10c I completed was a great climb. I did make deliberate movements, I took the opportunity to rest and re-chalk my hands when the course allowed me to and I made it to the top. It was challenging but a very fun climb. Unlike some routes that you climb once and never go back to, I can see myself climbing this one several times and enjoying it each time.
Of course climbing isn't the only place you should stop yourself from rushing. When it comes to spending, rushing is often your worst enemy and being patient can be your greatest ally. When you're making a purchase ask yourself if it's a want or a need. if you truly need something then you should buy it, but if it is a want you would probably be better served to wait. You may be able to find the exact same thing cheaper on-line, find a coupon to the store, find a substitute item that is less expensive or you may decide that you don't even want it anymore. You may not get the instant gratification of making the purchase but the cost savings will be well worth it.
Tuesday, December 8, 2009
Let Automation Help You
One of the best and easiest things you can do to help you pay down debt, save or invest is to automate the process.
Many people already do this in some form, probably without knowing that they have already taken the first step in automating their financial lives. I'm talking about their 401(k), where money is automatically taken out of your paycheck and put into the investments of your choice. But this is only the first step. By using an on-line bank it is very easy to open sub accounts for various savings goals and use automatic bill pay to automate your investments.
Here is an over view of how I automate my finances:
Every two weeks my pay gets direct deposited (after my 401(k) contribution is automatically taken out) into a checking account at a traditional bank (I use a traditional bank here for easy cash withdrawals), two days after the direct deposit money is wired to my checking account at INGdirect.
From my checking account I have money that is automatically transferred into savings sub accounts for git giving, travel, savings, and taxes as well as $416 sent into my ROTH IRA to make sure it is maxed out and money sent into my regular brokerage account. Without me actively doing anything all of my savings and investing will automatically happen. And that is powerful. Why? Because the less that I have to actively do, the less chance there is that I'll forget to do and the more I'll save and invest.
This can be taken a step further so you automate your bill paying as well. For example my cell phone bill is automatically charged to my credit card as are various other bills. The only bills I have to actively pay are cable/internet, rent, utilities and my credit card.
Not only do I save and invest more money but there are also less things I have to worry about each month - a true win/win situation.
Many people already do this in some form, probably without knowing that they have already taken the first step in automating their financial lives. I'm talking about their 401(k), where money is automatically taken out of your paycheck and put into the investments of your choice. But this is only the first step. By using an on-line bank it is very easy to open sub accounts for various savings goals and use automatic bill pay to automate your investments.
Here is an over view of how I automate my finances:
Every two weeks my pay gets direct deposited (after my 401(k) contribution is automatically taken out) into a checking account at a traditional bank (I use a traditional bank here for easy cash withdrawals), two days after the direct deposit money is wired to my checking account at INGdirect.
From my checking account I have money that is automatically transferred into savings sub accounts for git giving, travel, savings, and taxes as well as $416 sent into my ROTH IRA to make sure it is maxed out and money sent into my regular brokerage account. Without me actively doing anything all of my savings and investing will automatically happen. And that is powerful. Why? Because the less that I have to actively do, the less chance there is that I'll forget to do and the more I'll save and invest.
This can be taken a step further so you automate your bill paying as well. For example my cell phone bill is automatically charged to my credit card as are various other bills. The only bills I have to actively pay are cable/internet, rent, utilities and my credit card.
Not only do I save and invest more money but there are also less things I have to worry about each month - a true win/win situation.
Monday, December 7, 2009
Weekend Recap
I did ok this weekend spending wise.
Saturday I watched the Alabama Florida game and then went climbing. Zero dollars spent!
Sunday I made home made muffins for R ($5 for milk and eggs), took her to Red Robin to get her a birthday burger ($23) and then we went food shopping ($105, $60 on prepaid Vista's I had from a wireless router refund and $45 out of pocket). When we got home we watched GI Joe: Rise of Cobra and were both pleasantly surprised as to how well done it was.
Total out of pocket spend for the weekend was about $75.
Saturday I watched the Alabama Florida game and then went climbing. Zero dollars spent!
Sunday I made home made muffins for R ($5 for milk and eggs), took her to Red Robin to get her a birthday burger ($23) and then we went food shopping ($105, $60 on prepaid Vista's I had from a wireless router refund and $45 out of pocket). When we got home we watched GI Joe: Rise of Cobra and were both pleasantly surprised as to how well done it was.
Total out of pocket spend for the weekend was about $75.
Friday, December 4, 2009
Food Stamps
According to the New York Times article food stamp usage is not only increasing but also becoming more socially acceptable.
Currently 1 out of 8 adults and 1 out of 4 children use food stamps. Looking at the accompanying map shows that most of the usage of food stamps is concentrated in the South East, but also parts of Texas, California, Oregon and Main are heavy users. It was also reported that half of all Americans used food stamps before they turned 20.
I'm conflicted when it comes to programs such as food stamps. I believe that we absolutely need a basic social safety net because everyone should at least be able to have something to eat but at the same time the program needs to be structured so that it doesn't encourage people to stay on the program indefinitely and thus create a long term burden on the workers who pay taxes to fund the program.
Currently 1 out of 8 adults and 1 out of 4 children use food stamps. Looking at the accompanying map shows that most of the usage of food stamps is concentrated in the South East, but also parts of Texas, California, Oregon and Main are heavy users. It was also reported that half of all Americans used food stamps before they turned 20.
I'm conflicted when it comes to programs such as food stamps. I believe that we absolutely need a basic social safety net because everyone should at least be able to have something to eat but at the same time the program needs to be structured so that it doesn't encourage people to stay on the program indefinitely and thus create a long term burden on the workers who pay taxes to fund the program.
Holiday Travel
I’m going back to the east coast for the holidays, including spending a weekend with friends in Nova Scotia and a week with family on the US East Coast.
I’m using frequent flier miles for the flights (flying American) which will save me a lot of money. The airfare in the summer was really cheap – round trip on a non-stop flight for about $220 (flying Virgin American). For the holidays the cheapest I could find was around $500 just to the east coast and another $500 to go to Nova Scotia! The airline did charge $100 for booking the flight though, $50 for booking within 21 days of departure and $50 in foreign taxes, which didn’t really make me very happy.
I have basically stopped flying American on paid flights and have been “spending” down my frequent flier mile balance. Despite flying for nearly free using the miles, I won’t be very sad if I never fly American again. There are so many better, and often cheaper, options available today. Depending on where I’m flying, I would much rather fly Southwest, Jet Blue or Virgin American.
I tried to find a deal on hotels but the best I could find was $90 a night for 4 nights, plus tax brings the total to $400 Canadian or roughly $375 American. I’m also estimating that food will be about $100-150 since I’ll probably be eating out a lot. The total cost should be roughly $600. It’s not bad for a 10 day vacation but my frugal side wishes I could have gotten the hotel cheaper and I’m still a little miffed that American charged $50 for booking within 21 days of departure.
I’m using frequent flier miles for the flights (flying American) which will save me a lot of money. The airfare in the summer was really cheap – round trip on a non-stop flight for about $220 (flying Virgin American). For the holidays the cheapest I could find was around $500 just to the east coast and another $500 to go to Nova Scotia! The airline did charge $100 for booking the flight though, $50 for booking within 21 days of departure and $50 in foreign taxes, which didn’t really make me very happy.
I have basically stopped flying American on paid flights and have been “spending” down my frequent flier mile balance. Despite flying for nearly free using the miles, I won’t be very sad if I never fly American again. There are so many better, and often cheaper, options available today. Depending on where I’m flying, I would much rather fly Southwest, Jet Blue or Virgin American.
I tried to find a deal on hotels but the best I could find was $90 a night for 4 nights, plus tax brings the total to $400 Canadian or roughly $375 American. I’m also estimating that food will be about $100-150 since I’ll probably be eating out a lot. The total cost should be roughly $600. It’s not bad for a 10 day vacation but my frugal side wishes I could have gotten the hotel cheaper and I’m still a little miffed that American charged $50 for booking within 21 days of departure.
Wednesday, December 2, 2009
Bike repairs
The repairs on my bike came in almost exactly on budget. The front and rear shifters were $27, and labor was $22.50 but they had to cut off and replace my old hand grips which were $9.90 to replace.
Estimated budget: $60
Total cost: $59.40 (not counting the $5 in tax)
I'm glad I get a 10% discount, which saved my about $6 but what really struck me was that they only charged $25 ($22.50 after discount) for a job they said would take them about 2 hours. I have no idea how long it actually took them but that seems very cheap to me.
It is so nice to have a bike that will actually change gears easily and reliably! It was so worth the $60.
I also got R a supper soft and fuzzy (not to mention warm) jacket for her birthday. The jacket is also her favorite color, so she should love it. It was $95 less 10% for a total of $85.50.
I consider this a success on all fronts and I'm very happy with how things turned out.
Estimated budget: $60
Total cost: $59.40 (not counting the $5 in tax)
I'm glad I get a 10% discount, which saved my about $6 but what really struck me was that they only charged $25 ($22.50 after discount) for a job they said would take them about 2 hours. I have no idea how long it actually took them but that seems very cheap to me.
It is so nice to have a bike that will actually change gears easily and reliably! It was so worth the $60.
I also got R a supper soft and fuzzy (not to mention warm) jacket for her birthday. The jacket is also her favorite color, so she should love it. It was $95 less 10% for a total of $85.50.
I consider this a success on all fronts and I'm very happy with how things turned out.
Tuesday, December 1, 2009
Balancing Life's Passions and Your Budget
Sometimes the things we love in life can be expensive. Several months ago I started rock climbing and I'm hooked. I love it. I try to climb 2 to 3 times a week but if I'm feeling sore I might take a yoga class instead. This got me thinking about how much I was spending on my new passion in life.
I did a trial membership at the gym to see if I liked it. I decided that while I loved the gym and climbing, taking SF Muni to get there was a huge waste of my time. It would take at least an hour each way to make the three mile trip, which I found to be incredibly aggravating. After trying four different bus lines to get there, each worse then the last, I decided that if I was going to keep climbing I would need to stop renting and buy climbing equipment and also a bike. I loved climbing, so it was an easy decision.
My harness and chalk bag were $85. My beginner shoes which would have cost $65 were a gift, but my next pair will likely cost around $125 and I also got power putty ($10) for hand exercises. My out of pocket expenses for equipment was $95, with another $125 expected sometime next year when my shoes wear out. Then there is the cost of the gym membership - $70 a month.
After a few weeks of looking I bought a bike for $50 (it was by far the best deal on craigslist) and spent another $80 on a helmet, a lock, lights and water bottle for a total of $130 in bike expenses. However, I need to have the shifters replaced which I'm expected to cost another $60 including labor which will bring my bike expenses to $190.
My total costs so far: $95+ $130 = $225 for bike and equipment plus $70 per month and I'm anticipating spending another $60 tonight on bike parts. If I go through a pair of shoes a year, my on going expenses would be $840 +125 = $965 a year with one time equipment costs of roughly $285.
Climbing might be expensive, but it's a conscious expense on something i love and is balanced by being frugal in other areas of my life. I take my lunch to work most days, I use zipcar instead of owning a car in SF, I don't have a fancy new internet phone with an expensive data plan (though I do have unlimited texting) and I spend very little on unnecessary items.
So am I any good at climbing? I'm not great but I'm getting much better. I started climbing about two months ago on routes that were 5.6-5.7 and I'm now climbing 5.10B routes. Now, I just need to build up the skill, strength and stamina to get past the C's...
I did a trial membership at the gym to see if I liked it. I decided that while I loved the gym and climbing, taking SF Muni to get there was a huge waste of my time. It would take at least an hour each way to make the three mile trip, which I found to be incredibly aggravating. After trying four different bus lines to get there, each worse then the last, I decided that if I was going to keep climbing I would need to stop renting and buy climbing equipment and also a bike. I loved climbing, so it was an easy decision.
My harness and chalk bag were $85. My beginner shoes which would have cost $65 were a gift, but my next pair will likely cost around $125 and I also got power putty ($10) for hand exercises. My out of pocket expenses for equipment was $95, with another $125 expected sometime next year when my shoes wear out. Then there is the cost of the gym membership - $70 a month.
After a few weeks of looking I bought a bike for $50 (it was by far the best deal on craigslist) and spent another $80 on a helmet, a lock, lights and water bottle for a total of $130 in bike expenses. However, I need to have the shifters replaced which I'm expected to cost another $60 including labor which will bring my bike expenses to $190.
My total costs so far: $95+ $130 = $225 for bike and equipment plus $70 per month and I'm anticipating spending another $60 tonight on bike parts. If I go through a pair of shoes a year, my on going expenses would be $840 +125 = $965 a year with one time equipment costs of roughly $285.
Climbing might be expensive, but it's a conscious expense on something i love and is balanced by being frugal in other areas of my life. I take my lunch to work most days, I use zipcar instead of owning a car in SF, I don't have a fancy new internet phone with an expensive data plan (though I do have unlimited texting) and I spend very little on unnecessary items.
So am I any good at climbing? I'm not great but I'm getting much better. I started climbing about two months ago on routes that were 5.6-5.7 and I'm now climbing 5.10B routes. Now, I just need to build up the skill, strength and stamina to get past the C's...
Monday, November 30, 2009
Final Thanksgiving Tally
The last of the leftovers are gone. So very sad...
Just looking at the main meal and counting desserts and drinks, we got 8 plates of food for roughly $25 or about $4 a plate, which I'm pretty happy with. Other than making the stuffing from scratch, I'm not sure how we would get the price any lower unless we could buy the turkey breasts on more of a sale.
Still, there is no way we could ever eat out at a restaurant and get the same meal for $4 a plate. It would probably cost us at least $25 just for one meal for the two of us.
Just looking at the main meal and counting desserts and drinks, we got 8 plates of food for roughly $25 or about $4 a plate, which I'm pretty happy with. Other than making the stuffing from scratch, I'm not sure how we would get the price any lower unless we could buy the turkey breasts on more of a sale.
Still, there is no way we could ever eat out at a restaurant and get the same meal for $4 a plate. It would probably cost us at least $25 just for one meal for the two of us.
80% of Restaurant.com
Restaurant.com is having an 80% off sale, you can get a $25 certificate for $2 or $50 for $4 with the code: SAVE the code is good until the end of the day today.
I've used these before and they are more like coupons than gift certificates in that there are restrictions on ordering a minimum amount and automatically charging you 18% gratuity on the full price. With that said, if they offer a restaurant that you like to go to anyway this is an easy way to save some money. I usually find that I can save 25-35% off the bill by using one of these coupons. Which is nice if it's a restaurant that you go to often or you find a restaurant that you want to try.
In San Francisco they offer certificates to everything from North Beach restaurants for Italian, places in the mission for Mexican, cafe's and bistros in most neighborhoods so there's a good chance you have a place close to you that you might want to try. Personally, I love that Helmond and Mercedes are on the site.
I've used these before and they are more like coupons than gift certificates in that there are restrictions on ordering a minimum amount and automatically charging you 18% gratuity on the full price. With that said, if they offer a restaurant that you like to go to anyway this is an easy way to save some money. I usually find that I can save 25-35% off the bill by using one of these coupons. Which is nice if it's a restaurant that you go to often or you find a restaurant that you want to try.
In San Francisco they offer certificates to everything from North Beach restaurants for Italian, places in the mission for Mexican, cafe's and bistros in most neighborhoods so there's a good chance you have a place close to you that you might want to try. Personally, I love that Helmond and Mercedes are on the site.
Friday, November 27, 2009
Cost of Thanksgiving
Here is the final tally for our Thanksgiving diner (which includes leftovers for at least one and possible two more meals for us)
Turkey Breast $9
Squash $1
Sweet Potatoes $1
Cranberry Sauce $3
Dressing $4
Broccoli $1
Gravy $1.50
Vanilla Ice Cream $4
Pecan Pie (6 inch) $8
Pumpkin Pie (9 inch)$10
Sparkling Cranberry $3
Wine $7
Total $52.50
The real killer was buying the desserts at $22 for the pies and ice cream, which was nearly half of the overall cost. If that's taken out and you skip the wine so that you're just making the food, I think $25 is a very reasonable cost for one of the best meals of the year and getting another day or two worth of leftovers.
Instead of having turkey sandwiches, you can use the leftover turkey to make turkey chili or a soup with the turkey meat. Of course, a hot turkey sandwich with gravy does sound good...
Turkey Breast $9
Squash $1
Sweet Potatoes $1
Cranberry Sauce $3
Dressing $4
Broccoli $1
Gravy $1.50
Vanilla Ice Cream $4
Pecan Pie (6 inch) $8
Pumpkin Pie (9 inch)$10
Sparkling Cranberry $3
Wine $7
Total $52.50
The real killer was buying the desserts at $22 for the pies and ice cream, which was nearly half of the overall cost. If that's taken out and you skip the wine so that you're just making the food, I think $25 is a very reasonable cost for one of the best meals of the year and getting another day or two worth of leftovers.
Instead of having turkey sandwiches, you can use the leftover turkey to make turkey chili or a soup with the turkey meat. Of course, a hot turkey sandwich with gravy does sound good...
Wednesday, November 25, 2009
Thanksgiving
R and I will be making a huge Thanksgiving even though it's just the two of us. We each think it is by far the best meal of the year, and we try to get extra turkey when it's on sale and freeze it so we can enjoy a second Thanksgiving in April or May.
This year we'll be having:
Turkey breasts (brined of course)
Dressing
Cranberry Sauce
Sweet Potatoes
Broccoli
Beet relish (basically roasted beets and horseradish)
Banana Nut Bread
Persimmon Bread
A Small Pumpkin Pie and a small Pecan Pie
For drinks we'll have sparkling cranberry juice, sparkling pomegranate juice and wine.
Everything but the pies and drinks will be home made. Our kitchen just isn't big enough to roll out dough, which is rather sad. But aside from the small kitchen, we have a lot to be thankful for, and hope that you do to.
This year we'll be having:
Turkey breasts (brined of course)
Dressing
Cranberry Sauce
Sweet Potatoes
Broccoli
Beet relish (basically roasted beets and horseradish)
Banana Nut Bread
Persimmon Bread
A Small Pumpkin Pie and a small Pecan Pie
For drinks we'll have sparkling cranberry juice, sparkling pomegranate juice and wine.
Everything but the pies and drinks will be home made. Our kitchen just isn't big enough to roll out dough, which is rather sad. But aside from the small kitchen, we have a lot to be thankful for, and hope that you do to.
Tuesday, November 24, 2009
Real Estate
It was reported today that nearly 1 in 4 people, or roughly 10.7 Million people, with a mortgage are underwater and that 7.5 Million people were 30 days or more behind on their mortgage payments.
I’m sure there are some tragic stories in this crowd - probably involving unforeseen medical expenses, but for the most part I think it’s mostly the result of people being greedy and trying to buy too much home or getting refinancing and using their home as an ATM machine. Lets get real, if the average person makes $50k a year they can’t afford a $500,000 house – no matter what the agent might tell them.
When I first got to San Francisco the real estate party was in full swing and I had no job and few assets to buy property so I was priced out of the market. After getting a job I still had no assets for a down payment so I went into super saver mode trying to build up enough to perhaps make a purchase. While I was building up my down payment I watched as prices went higher and higher and higher still. Eventually I started to think that there was just no way I’d ever be able to buy a home in or around SF.
Then came the great unraveling and prices started their slow decline. I patiently watched prices decline and waited, reminding myself not to get a mortgage more than 3x my income. I can now afford a home in the exurbs – if I’m willing to deal with an hour long bart ride and uncertain water rights, or I could buy a small condo in SF and be stuck paying HOA fees. Neither are options I like very much. Prices are still high for real estate in San Francisco and haven’t dropped as much as they have in other parts of the country and perhaps they never will, but with the unemployment in the city around 10% I’m guessing prices will continue to decline for at least a little while longer. This gives me hope that maybe one day I’ll be able to be a homeowner in the Bay Area.
I’m sure there are some tragic stories in this crowd - probably involving unforeseen medical expenses, but for the most part I think it’s mostly the result of people being greedy and trying to buy too much home or getting refinancing and using their home as an ATM machine. Lets get real, if the average person makes $50k a year they can’t afford a $500,000 house – no matter what the agent might tell them.
When I first got to San Francisco the real estate party was in full swing and I had no job and few assets to buy property so I was priced out of the market. After getting a job I still had no assets for a down payment so I went into super saver mode trying to build up enough to perhaps make a purchase. While I was building up my down payment I watched as prices went higher and higher and higher still. Eventually I started to think that there was just no way I’d ever be able to buy a home in or around SF.
Then came the great unraveling and prices started their slow decline. I patiently watched prices decline and waited, reminding myself not to get a mortgage more than 3x my income. I can now afford a home in the exurbs – if I’m willing to deal with an hour long bart ride and uncertain water rights, or I could buy a small condo in SF and be stuck paying HOA fees. Neither are options I like very much. Prices are still high for real estate in San Francisco and haven’t dropped as much as they have in other parts of the country and perhaps they never will, but with the unemployment in the city around 10% I’m guessing prices will continue to decline for at least a little while longer. This gives me hope that maybe one day I’ll be able to be a homeowner in the Bay Area.
Monday, November 23, 2009
Weekend recap
Saturday my girlfriend R and I decided to go bike riding along the Bay at Crissy Field. I have a bike, which I bought used off of craigslist, but she doesn’t so we had to rent a bike for her. So we do what every good San Franciscan should do and went to Sports Basement rather than one of the high priced tourist ripe-off bike rental shops like Blazing Saddles. Why Sports Basement? Because the staff is super nice, knowledgeable and the prices are cheap - $10 for 3 hours or $20 for the day, kids pay half.
The staff was great in helping R deal with her fear of riding a bike. Knowing that this was her first time riding in years and if she liked it we would be back to rent a bike often they not only gave us an old fashion cruiser bike – the kind without gears and peddle breaks, for our Bay side ride (don’t ever get a cruiser if you’re going to be riding up any of San Francisco’s many, many hills) but they also gave it to us at the kids price. That is fantastic customer service!
I helped R ride around the parking lot a few times to remember how to ride a bike and get used to this particular bike and then we ventured across the street to the Crissy Field paths. Soon we were riding from the Yacht club to the Warming Hut and back with the sun on our faces and the wind in our hair.
Returning the bike, we picked up a few energy bars from their huge selection and played a game of pink pong for free on the table they have set up for their customers to use. Total cost: about $7. Which got us the joy or riding along the Bay, time spent together, fresh air, helping to over come one of R’s fears and a post ride snack. Well worth it. Oh, and you can be sure we’ll be back to Sports Basement again.
I spent Sunday indoor rock climbing and watching football, neither of which cost any money – I have a monthly membership to the climbing gym so essentially once the fee is paid each visit is free. Alternatively I go to the gym on average of 10-12 times per month making each visit cost an average of roughly $6 to $7 if you wanted to calculate it that way.
The staff was great in helping R deal with her fear of riding a bike. Knowing that this was her first time riding in years and if she liked it we would be back to rent a bike often they not only gave us an old fashion cruiser bike – the kind without gears and peddle breaks, for our Bay side ride (don’t ever get a cruiser if you’re going to be riding up any of San Francisco’s many, many hills) but they also gave it to us at the kids price. That is fantastic customer service!
I helped R ride around the parking lot a few times to remember how to ride a bike and get used to this particular bike and then we ventured across the street to the Crissy Field paths. Soon we were riding from the Yacht club to the Warming Hut and back with the sun on our faces and the wind in our hair.
Returning the bike, we picked up a few energy bars from their huge selection and played a game of pink pong for free on the table they have set up for their customers to use. Total cost: about $7. Which got us the joy or riding along the Bay, time spent together, fresh air, helping to over come one of R’s fears and a post ride snack. Well worth it. Oh, and you can be sure we’ll be back to Sports Basement again.
I spent Sunday indoor rock climbing and watching football, neither of which cost any money – I have a monthly membership to the climbing gym so essentially once the fee is paid each visit is free. Alternatively I go to the gym on average of 10-12 times per month making each visit cost an average of roughly $6 to $7 if you wanted to calculate it that way.
Friday, November 20, 2009
How I got to where I am
After graduating from college I was in a position a lot of graduating seniors are in. I had no idea what I wanted to with my life. With some credit card debt hanging over my head (with interest running at 19%) I took the first job I was offered and even worse I didn’t even negotiate from the low ball salary they offered me. And I was living with my parents. Which all sounds rather sad and depressing looking back on it.
I quickly learned that the only way things were going to get better was for me to take matters into my own hands and start working toward a better future. I began saving and paying down my debt aggressively. Then the next fall I took what felt like a big step and enrolled in a part time MBA program from one of the leading schools in the area. Three years latter I graduated with my MBA, was free of my credit card debt had built up a cash reserve and saved enough to pay for a car. Though a series of promotions I had managed to get my income up over $40,000, but that doesn’t go far living in an expensive East Cost city. Unfortunately going back to school caused me to rack up $45,000 in student loans, and I was STILL living with my parents.
At the time interest rates were at record lows and I was able to consolidate all of my student loans at a low rate and by using their automatic payment option and paying consistently on time I have gotten the interest rate reduced to a mere 1.625%. Obviously I’m in no rush to pay off this debt. During this time I realized that the only way I was going to really increase my income was to change my employer, so I began my job search. I developed a list of companies that I wanted to work for and began contacting each of them.
I soon received an interesting offer from a company in San Francisco that I really admired. It wasn’t the job I was hoping for, but rather an internship. I’ve learned in life to never automatically dismiss an opportunity simply because it doesn’t fit the preconceived notion we may have for what we want. In other words, always keep an open mind! Weighing my options I decided that it was worth taking the chance of resigning from my job (which I didn’t really like anyway), driving across the country to take a low paying internship at an awesome company where I could gain very valuable experience and make industry contacts. Six months later I finished a very enjoyable internship and had landed a job with nearly double the income of the job I gave up on the East Coast. This is similar to what Ramit at Iwillteachyoutoberich.com talks about when he says sometimes you need to work for free so that you can get the job you want.
Along the way I started reading personal finance blogs and articles and received an inordinate amount of help, tips, advice, encouragement and entertainment. This blog is a way for me to contribute and possibly help someone else and also a way to keep myself accountable and motivated to continue saving and financially thriving while living in one of the most beautiful, fun and expensive cities in the country.
I quickly learned that the only way things were going to get better was for me to take matters into my own hands and start working toward a better future. I began saving and paying down my debt aggressively. Then the next fall I took what felt like a big step and enrolled in a part time MBA program from one of the leading schools in the area. Three years latter I graduated with my MBA, was free of my credit card debt had built up a cash reserve and saved enough to pay for a car. Though a series of promotions I had managed to get my income up over $40,000, but that doesn’t go far living in an expensive East Cost city. Unfortunately going back to school caused me to rack up $45,000 in student loans, and I was STILL living with my parents.
At the time interest rates were at record lows and I was able to consolidate all of my student loans at a low rate and by using their automatic payment option and paying consistently on time I have gotten the interest rate reduced to a mere 1.625%. Obviously I’m in no rush to pay off this debt. During this time I realized that the only way I was going to really increase my income was to change my employer, so I began my job search. I developed a list of companies that I wanted to work for and began contacting each of them.
I soon received an interesting offer from a company in San Francisco that I really admired. It wasn’t the job I was hoping for, but rather an internship. I’ve learned in life to never automatically dismiss an opportunity simply because it doesn’t fit the preconceived notion we may have for what we want. In other words, always keep an open mind! Weighing my options I decided that it was worth taking the chance of resigning from my job (which I didn’t really like anyway), driving across the country to take a low paying internship at an awesome company where I could gain very valuable experience and make industry contacts. Six months later I finished a very enjoyable internship and had landed a job with nearly double the income of the job I gave up on the East Coast. This is similar to what Ramit at Iwillteachyoutoberich.com talks about when he says sometimes you need to work for free so that you can get the job you want.
Along the way I started reading personal finance blogs and articles and received an inordinate amount of help, tips, advice, encouragement and entertainment. This blog is a way for me to contribute and possibly help someone else and also a way to keep myself accountable and motivated to continue saving and financially thriving while living in one of the most beautiful, fun and expensive cities in the country.
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