Living like a rock star on a has-been budget
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http://shine.yahoo.com/channel/money/living-like-a-rock-star-on-a-has-been-budget-153027I am a total cheapskate. I admit it. Friends have laughed behind my back (as well as to my face) about my fiscally frugal ways. But with the economy taking an overtly ominous turn, those same friends are starting to inquire about my thrifty compulsions – especially since my lifestyle is still pretty luxe. The things I do aren’t belt-tightening measures I’ve imposed upon myself to get through dire times; they’re really just habits that have developed over time. And these little gems aren’t brown-bag-it-and-save-a-couple-bucks-no-brainers. If you pick up these habits, you can save thousands.
Cheap Habit #1 I stay out of stores.
Seriously. I don’t shop. And no browsing, window shopping or scoping the sales, either. If I did, I would buy things I “need” that I can easily do without. For example, a couple of my every day dishes have a few chips in them. My hand towels in the bathroom are fading. My Cuisinart is circa 1980 and a crack in the container forces me to hold the lid down to make it work. But you know what? I get by every day without purchasing shiny new versions of items I already own. Replacing those items would cost $300 to $600. Before giving up shopping, I could walk through the kitchenware department at Macy’s and find no less than half a dozen gadgets that I would definitely use – but could live without. And I do. I even stay out of Target. Yes, they have great deals on cleaners and toilet paper, but if I was buying a couple cute tops, seasonal welcome mats and outdoor tumblers every time I walked through the door, the savings would be out the door, too. When’s the last time you saw Jon Bon Jovi at Target? See? Staying out of Target = living just like a rock star.
Cheap Habit #2 When I absolutely must buy something for the house, I go to Craigslist first.
This is the best tool for living great for less. I buy everything, absolutely everything on Craigslist whenever possible. My house is filled with fabulous CL finds. When we needed a sofa for the living room, I found a Room and Board classic. It sold retail for nearly $2000 with the fabric upgrade, Scotchguard and taxes. My CL price? $500. It was very gently used, professionally sealed in plastic and held in storage by a woman who bought the couch and decided a few months later to redecorate! When I needed a new vacuum, I read reviews and was dying for a Dyson. But $500 for an Animal? Don’t think so. I scoured Craigslist for a few days and lo and behold, a newlywed couple got one for a gift and didn’t need it. I got it new and in the box for $200. When a margarita-infused evening caused the early demise of my blender pitcher and a replacement wasn’t available, I turned to Craig. The find? A kick-butt Kitchen Aid blender for a quarter of the price of a new one! I bought the same seller’s Kitchen Aid mixer too, since mine had just died. The seller was a chef who got the appliances as gifts for his culinary school graduation. Since he spends all day in the kitchen, the last thing he wanted to do at home was cook. Score! A-list livin’ for B-list prices. This is how I see it: anything I want to buy from any major retailer is produced by the hundreds of thousands. Hundreds to thousands of people have already purchased the exact item I’m looking for and several of those people are bound to get married, relocate, downsize or change their minds and place the item on Craigslist.
Cheap Habit #3-Cars.com.
For grins, I did a little research on Cars.com. In less than sixty seconds I looked up a new, 2008 Honda Accord EX; they go for over $30,000, not including taxes. I also found a 2005 Honda Accord EX with only 30,000 miles for $15,000. Can you imagine an extra $15,000 in your checking account right now? How about adding a couple thousand more when you figure in interest on the loan? My personal car is a little more funky than most people are willing to get: it's a 1996 Subaru Outback with 130,000-plus miles on it. I’ve had it for nine years and it costs only $500 to $1200 per year to maintain. That’s it! I will cry when this car dies. Spending tens of thousands of dollars on a new car won’t get me there any faster or better. Would I look better in a new car? Maybe. But not as good as I look with a nice, fat bank account and fewer gray hairs from worrying about car payments during a recession.
Cheap Habit #4 I love Platos Closet and clothing consignment shops. (oh yeah!-ed.comment)
Can you say Chip and Peppers for $45? True Religions for $50? I know, I know, it’s gross to buy used clothes, right? Not from my perspective: Would you rather get that pair of Rock & Republics from: a consignment shop that thoroughly inspects clothes for cleanliness and wear? Or, that $250 brand new pair that was tried on by Paris and her skivvy-less posse and not washed between fittings? Yeah, me too. Consignment stores only take clothes that are clean. And if I occasionally want to round out my wardrobe with a brand-new item, I feel absolutely zero guilt because of all the money I’ve saved on staples.
Cheap Habit #5 I live in a nice, safe but less-hip neighborhood.
Every once in a while, when walking through the “cool” neighborhood that’s a whopping 15-minute drive away, I think how nice it would be to walk out the door and stroll into Starbucks, the book store or any of the other quaint little boutiques. Then I think that my house would be twice – literally twice – the price if we bought in that zip code. And if I had all those shops right out my door, it would be way too easy to buy more stuff I would justify as “needed” that I could do just as well without. Same for renting. Apartments in my neighborhood are much less expensive than those in more trendy areas. Okay, so maybe the paparazzi aren’t staking out my ‘hood. But then again, you want to live like a rock star – not next to one. None of these habits has a negative impact on my quality of life. If anything, they improve it tremendously. I wear nice clothes. My home is beautifully furnished. I don’t drive a gorgeous car, but mine works great and gets me to where I need to go. My husband and I have never had a fight about money. Never! How’s that for quality of life? Am I cheap with everything? Absolutely not. I will spend extravagantly if I am getting something for my money. Six burner stove with a grill and full-size double oven? You bet. Designer $10,000 refrigerator? Is it making my ice any icier? No? Then forget it. If I need to spend to get performance then fine, but I better get something tangible for the extra money I’ve worked hard to earn. And that just doesn’t happen with hand towels. With the economy looking so gloomy, the less I have to worry about paying bills for what truly are discretionary items, the better my quality of life will be.
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