Smart Splurges and Saves

Forego the fashionable neighborhood

When I bought my own home four years ago, I decided to forego the "in" neighborhood for a two-unit home in a depressed neighborhood (what neighborhood isn't depressed nowadays?) I don't have children, so schools were not an issue. In trade for a prestigious neighborhood, I got a spacious solid brick home in perfect condition and an income-producing apartment. My neighbors are friendly, my commute to work is less than fifteen minutes, and now I have a ton of money to spend on the luxuries that mean the most to me.

Estate sales for furnishings and housewares and outlet malls for clothing are another way to save a bundle. I am a clothes freak and I always find amazing bargains at the Off Fifth, Saks Fifth Avenue outlet. Granted, I still spend a lot on shoes and clothes I don't really need, but I don't feel guilty about it, either.....I can also be assured that I am always getting luxury-level quality.

By the way, when I factor in the income from my rental unit into my monthly mortgage payment, I am only paying out $180.00 per month (including taxes) to live in a 1000 square foot, two bedroom apartment with full finished basement and two-car garage. I own a new car (I always have...another splurge) and I live like a rich man on less than $50,000 per year. All my friends are green with envy.....

....and speaking of green, buying vintage furnishings and housewares is a wonderful way to recycle and help the environment.

I live in Western New York, which is renowned for it's low cost of living and high level of big-city amenities. What more could I ask for?

Pmezhir of NY @ Dec 25, 2008 12:11:18 PM

I Agree with Kim

You have to choose what is important to you and like Tony and Ben. I love to travel as well. so Kudo's guys.

Shaquilia of TX @ Sep 27, 2008 13:49:27 PM

saving money

I have read that one should never spend one's change .Instead save it and use only paper to buy stuff. I have tried it and it is true that it begins to add up. As yet I haven't counted it and will let you know if it is truly enough to get excited about.

annonymous of MA @ Jul 06, 2008 17:35:44 PM

Saving Money on Coffee

I recently started saving money on coffee too. Instead on buying coffee at a cafe, an expense of $2.50 (inc.tip), I'm drinking coffee made here at the office for free. Sometimes I would purchase 2 coffees. In a week I would average about $17.50 per week on coffee. This translates to a savings of $70 per month!

Some times I splurge by going to a cafe on the weekends ordering a fancy $5 coffee drink while reading the sunday San Francisco Chronicle. I enjoy my fancy drink relaxing and knowing that I'm saving a lot of money

jonathan of CA @ Jul 03, 2008 15:52:53 PM

Avoid impulse spending

Hey Kim, it's Susan V. When I go out for a walk during the day here in the office, I do not take my wallet with me unless I am running a specific errand. It keeps me from spending money I shouldn't.

(It also allows me to truthfully tell all the homeless guys I can't help them. Remind me sometime to tell you a funny story about that.)

Susan Vavrick of @ Apr 09, 2008 14:34:27 PM

Saving money to splurge later

My money saver at the grocery store has been making a list and sticking to it. It's surprising how much those buy x for y dollars add to the grocery bill when they're impulse buys.

My money saver when my boyfriend and I are between paydays and financially challenged but still want to go out to eat has been to order appetizers and split them. Just tonight, he ordered nachos and I ordered quesadillas, and the margaritas were 5 dollars because it was happy hour, total bill came to about 40 bucks.

Veronica of NY @ Apr 03, 2008 21:16:40 PM

Thanks for sharing Tony - I love hearing about techniques that make it possible to live large, in whatever way you define it. It's proof that we can have what we want, we just have to decide what that is and be prepared to give up other, less important things.

Kimberly Palmer of @ Apr 03, 2008 16:50:36 PM