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The $300 Everyday Spending Plan

May 3rd, 2012 at 01:20 pm

I've tried this before, but didn't have it all thought out. I want to limit my everyday spending to $300 a month, which will probably be what I will have to work with in retirement. I failed before because I counted bigger-ticket unexpected items -- but that's not what I want to track. I will have savings for bigger items and unusual expenses. I just want to keep the everyday, nitty-gritty stuff under $300. That includes, for me, groceries, gas, eating out, Goodwill/sale shopping, haircuts, entertainment, pet and household supplies.

Not only will I get a sense of how I need to live, this experiment should allow me to sock away some savings.

Yesterday I started it off with a $9 expenditure at Goodwill. I bought four small gifts and, for myself, a new meat thermometer. I would estimate the retail value of what I bought to be at least $35.

$291 left!

The day before yesterday I stopped at the bank just to inquire about what I would need to do to pre-qualify for a loan, if I should decide to buy a condo in the near future. They took some basic information and promised that a loan officer would get in touch, but I've heard nothing yet. Really, I just wanted to talk it over with someone knowledgeable, but I think they're treating it like an application. Either that, or they're just not going to bother with me.

2 Responses to “The $300 Everyday Spending Plan”

  1. creditcardfree Says:

    I would bet eliminating some of your Goodwill shopping would help keep you in line with your goal.

  2. CB in the City Says:

    LOL. Yes, I do plan to cut down on the Goodwill shopping, though it is as much a strategy as an indulgence. Most of my wardrobe and gifts come from GW and I do very little retail shopping.

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