I’m back in SF after an adventurous vacation. I was originally planning on spending 4 days in Canada visiting friends (with a budget of $400 for hotel, $150 for food and $75 for gas plus another $100 for spending money for a total of roughly $725) and a week with my family but a major snow storm changed all that. I was stranded in Canada for 3 extra days due to all of the flight delays, and had to rearrange my return flight so that I was still able to spend a week with my family.
While I enjoyed the extra time in Canada with my friends, it caused me to go over budget. The hotel came to $673, food was $135, gas was $122 and misc spending money was $100 (which was mostly spent on food) for a total of roughly $1,030. Most of the extra was due to the hotel, so I don’t think I did that bad and I was able to get a few Christmas gifts while I was in Canada.
The trip was a lot of fun and I’m glad I was able to go. We went to a hockey game (junior hokey league, not NHL), saw some light houses, lots of Bay’s and Coves, and ate their local lobster. I also got to finally eat a donair which isn’t readily available in the US for some strange reason. I might have gone $300 over budget, but it was worth it. I’ll just have to make up for it in January.
Showing posts with label budget. Show all posts
Showing posts with label budget. Show all posts
Monday, January 4, 2010
Monday, December 14, 2009
Less car, More savings
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.
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.
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...
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