True Cost of Living
Jenny sent Jason and I an email of houses that cost under $300k. Her suggestion was that Jason and I could buy a house and rent out one of the rooms. Although all the reasons are in place for me to believe that this is a great idea, I don't think the time is appropriate. But even though it doesn't have to happen right now doesn't mean I can't think about and plan for it. Whether, it's with a friend or by myself I'll have to buy a place eventually.
One of the things I've been thinking about is my budget. I haven't been really good with my money and the $68 dollars I had in my bank account on Wednesday is a pretty good example of that. I've been trying to estimate what I would have to save in order to achieve a sizable down payment in three years. I've come to the conclusion that I need to put ~$2100 away every month. That leaves me about ~$700 for me to spend on my day-to-day expenses.
Although, it sounds like a fair amount to live on each month, it really isn't with the way I live. I opened up Google Docs and started a spreadsheet to calculate how much it costs to live the way I do. I've included things like my $3.53 I spend every morning at Tim Hortons for my coffee and bagel. I've also included the monthly car insurance payments I'll have to make once I get my car and the gas expenses I incur driving around. The total with every expense I can come up with so far is about $614.
I probably left out a lot of stuff so the ~$100 remaining isn't really feasible for my lifestyle. But this provides a perfect opportunity to change the way I live. Right now, I feel as if I'm living outside my means. I spend too freely. I use too many resources. I'm too materialistic. And here is the chance for me to change all that. So, for the next little while I'll be trying my best to cut back and form a lifestyle that makes me more comfortable with my living situation.
What's everyone else's true cost of living? Does anyone have any hints about how to live a more responsible lifestyle?
One of the things I've been thinking about is my budget. I haven't been really good with my money and the $68 dollars I had in my bank account on Wednesday is a pretty good example of that. I've been trying to estimate what I would have to save in order to achieve a sizable down payment in three years. I've come to the conclusion that I need to put ~$2100 away every month. That leaves me about ~$700 for me to spend on my day-to-day expenses.
Although, it sounds like a fair amount to live on each month, it really isn't with the way I live. I opened up Google Docs and started a spreadsheet to calculate how much it costs to live the way I do. I've included things like my $3.53 I spend every morning at Tim Hortons for my coffee and bagel. I've also included the monthly car insurance payments I'll have to make once I get my car and the gas expenses I incur driving around. The total with every expense I can come up with so far is about $614.
I probably left out a lot of stuff so the ~$100 remaining isn't really feasible for my lifestyle. But this provides a perfect opportunity to change the way I live. Right now, I feel as if I'm living outside my means. I spend too freely. I use too many resources. I'm too materialistic. And here is the chance for me to change all that. So, for the next little while I'll be trying my best to cut back and form a lifestyle that makes me more comfortable with my living situation.
What's everyone else's true cost of living? Does anyone have any hints about how to live a more responsible lifestyle?