Most bloggers warn against the dangers of lifestyle inflation as twenty-somethings go from broke college students to young professionals. Before I started working, I’ve also wondered if the thrill of the first paycheck would make me throw caution to the wind and just spend, spend, spend.
Instead, I’ve discovered that stepping out into the “real world” has turned me into a total cheapskate. Why? Well, let’s just say that after working 9 to 5 (that’s 9 AM to 5 AM. The next day.), I’ve truly learned the value of dollar.
Now, instead of going out for lunch, I usually eat leftovers from dinner or make instant noodles. Instead of running to Starbucks for soy vanilla lattes, I make hot chocolate in the office. Instead of buying a $30 lamp at Target, I spent $6 at a thrift store. I don’t browse at Banana Republic’s sales section anymore. I refuse to look at shoes. I might’ve even gotten over my love of handbags. My 4-year old laptop with an overheating problem and non-functioning Excel? It’s staying.
I still spend quite a bit of “weekend” money, but during the week I spend very, very little. And that is why I’m putting away $2,500+ a month: if I am working my tail off, then the very least I can do is to save enough money so that I have something to show for it.
I’m glad you’re back to blogging, I’ve missed your posts!! Congrats on stashing away $2,500/month but I have one question (at the risk of sounding nosy) and that is — roughly how much money are you making as a recent grad?? Sounds like a lot more than the $60K I make annually. I bring home $3,400 month after taxes but then I have to pay rent, bills, etc. Sorry, I’m just intrigued….
Wow, congrats on putting away so much every month. I too spend less than I did in college now that I’m earning my own dollars. But that’s really only because a) I spent a LOT in college, and b) I just don’t have as much free time to go out to eat or for coffee multiple times a day!
OUCH, 20 hours?! I hope that’s not too regular.
You go girl! I assume you’re in a field like I-banking where these hours are, indeed, common. That’s too bad for now, but a great entry on a resume or b-school application, and when I’m able to save large amounts, this always helps me to stay motivated: “This month I saved more than I will spend in the whole next month. I am one month closer to working for myself/telling off my boss/retirement/Hawaii/whatever your end goal is.”
Keep your spirits up and keep posting!
Congrats on being such a great saver!
Are you factoring in retirement account savings into the $2,500 or is that number simply your “spendable” take home?
Congratulations on your self-restraints!
Thanks so much for your wonderful blog.
I’ve been writing books about women and money for a decade. Even though women know they need to protect themselves financially, they are still not saving enough.
You’re a terrific role, Wanda. By blogging about your savings, you’re going to inspire a lot of other women to to do the same.
Barbara Stanny, author: “Prince Charming Isn’t Coming: How Women Get Smart About MOney.”
http://www.barbarastanny.com
Means No Cents – the $2,500 savings includes EVERYTHING I’m saving – retirement, emergency fund, etc. etc.
Your savings goals are amazing and inspiring especially because I’ve been feeling very uninspired. Hope you’re finding a way to enjoy yourself even when you’re working so hard.
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