Comments on: Smithee’s First Week With Only $100 http://www.consumerismcommentary.com/smithees-first-week-with-only-100/ A premier personal finance blog, established 2003. Within, Flexo discusses his own experiences with money, and he and other authors comment on a wide range of personal finance topics. Sun, 12 Feb 2012 20:01:44 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Eric http://www.consumerismcommentary.com/smithees-first-week-with-only-100/comment-page-1/#comment-203389 Eric Mon, 08 Feb 2010 05:01:26 +0000 http://www.consumerismcommentary.com/?p=8381#comment-203389 No problem! It always help to have some reassurance. :) No problem! It always help to have some reassurance. :)

]]> By: Smithee http://www.consumerismcommentary.com/smithees-first-week-with-only-100/comment-page-1/#comment-203377 Smithee Sun, 07 Feb 2010 15:21:44 +0000 http://www.consumerismcommentary.com/?p=8381#comment-203377 Thanks, Eric. I appreciate the support. Thanks, Eric. I appreciate the support.

]]> By: Eric http://www.consumerismcommentary.com/smithees-first-week-with-only-100/comment-page-1/#comment-203363 Eric Sun, 07 Feb 2010 00:47:56 +0000 http://www.consumerismcommentary.com/?p=8381#comment-203363 just keep working harder buddy! i seriously can't wait until the day i see no debt next to your name haha just keep working harder buddy! i seriously can’t wait until the day i see no debt next to your name haha

]]> By: H Lee D http://www.consumerismcommentary.com/smithees-first-week-with-only-100/comment-page-1/#comment-203353 H Lee D Sat, 06 Feb 2010 15:00:14 +0000 http://www.consumerismcommentary.com/?p=8381#comment-203353 My husband and I started something similar in December. We get $250 for the week for all non-bills and anything that pops up under $50. (So, for example, my doc's copay of $35 was paid out of the weekly cash. His procedure of $168 was not. $20 oil change - yes; $400 other car crappiness - no.) We still log all purchases in a spreadsheet with two columns: one for cash purchases, one for bills and credit card purchases. This ensures we're within the monthly budget in high-expense months (i.e. January had an out-of-state family wedding, a professional conference, $400 routine maintenance on my car, car insurance renewal ... but we didn't spend more than we made). We take money out on Sunday, the day we go grocery shopping and typically when we both need to fill our cars. This way, if we're good spenders during the week, we don't need to worry about saving money through the weekend — we can go out and splurge. If not, we have cards and board games and movies at home. We also decided that on weeks when we have a lot left over at the end of Saturday, we could roll it into the next week (which is what we've been doing) or go to a restaurant that we like to eat at and buy a gift card large enough to cover us for a dinner. This way, when we're having a bad week, we can still go out for dinner on Saturday if we want. All of our bill-paying is still being done the way that it was before — either I'm paying it online or it's auto-charged to our credit card. We keep $20-40 on us and the rest is in an inconspicuous but easy-to access place so that when we need more, we can take more (and we're not carrying over $100 around all week). We've saved just over the equivalent of one paycheck since Dec. 1 doing this. My husband and I started something similar in December. We get $250 for the week for all non-bills and anything that pops up under $50. (So, for example, my doc’s copay of $35 was paid out of the weekly cash. His procedure of $168 was not. $20 oil change – yes; $400 other car crappiness – no.) We still log all purchases in a spreadsheet with two columns: one for cash purchases, one for bills and credit card purchases. This ensures we’re within the monthly budget in high-expense months (i.e. January had an out-of-state family wedding, a professional conference, $400 routine maintenance on my car, car insurance renewal … but we didn’t spend more than we made).

We take money out on Sunday, the day we go grocery shopping and typically when we both need to fill our cars. This way, if we’re good spenders during the week, we don’t need to worry about saving money through the weekend — we can go out and splurge. If not, we have cards and board games and movies at home.

We also decided that on weeks when we have a lot left over at the end of Saturday, we could roll it into the next week (which is what we’ve been doing) or go to a restaurant that we like to eat at and buy a gift card large enough to cover us for a dinner. This way, when we’re having a bad week, we can still go out for dinner on Saturday if we want.

All of our bill-paying is still being done the way that it was before — either I’m paying it online or it’s auto-charged to our credit card.

We keep $20-40 on us and the rest is in an inconspicuous but easy-to access place so that when we need more, we can take more (and we’re not carrying over $100 around all week).

We’ve saved just over the equivalent of one paycheck since Dec. 1 doing this.

]]> By: Terry http://www.consumerismcommentary.com/smithees-first-week-with-only-100/comment-page-1/#comment-203335 Terry Sat, 06 Feb 2010 02:32:10 +0000 http://www.consumerismcommentary.com/?p=8381#comment-203335 Wow, I gotta read Erica's post. THIS ought to be good. For transparency,m I will note that I live on less than $250 per week, and I would be amazed to have $100 per week of discretionary spending. With $50K, I think I'd just sock it away somewhere. Wow, I gotta read Erica’s post. THIS ought to be good.

For transparency,m I will note that I live on less than $250 per week, and I would be amazed to have $100 per week of discretionary spending.

With $50K, I think I’d just sock it away somewhere.

]]> By: Terry http://www.consumerismcommentary.com/smithees-first-week-with-only-100/comment-page-1/#comment-203323 Terry Fri, 05 Feb 2010 22:26:32 +0000 http://www.consumerismcommentary.com/?p=8381#comment-203323 I go for the $3.99 (half-price) shirts at thrift stores. I go for the $3.99 (half-price) shirts at thrift stores.

]]> By: Smithee http://www.consumerismcommentary.com/smithees-first-week-with-only-100/comment-page-1/#comment-203321 Smithee Fri, 05 Feb 2010 22:01:43 +0000 http://www.consumerismcommentary.com/?p=8381#comment-203321 Addendum: I wasn't sure what I was going to do for lunch today, then a co-worker offered to buy mine if I walked to a restaurant and brought her back something. Win! Addendum:

I wasn’t sure what I was going to do for lunch today, then a co-worker offered to buy mine if I walked to a restaurant and brought her back something. Win!

]]> By: Smithee http://www.consumerismcommentary.com/smithees-first-week-with-only-100/comment-page-1/#comment-203313 Smithee Fri, 05 Feb 2010 19:33:39 +0000 http://www.consumerismcommentary.com/?p=8381#comment-203313 Flexo managed to convince me that it'd be smarter to stay anonymous, otherwise I'd be self-promoting plenty on here. (I have, on occasion, linked to places where you could find some of my work, but it's always been indirect.) I got an account with Kickstarter.com, so I'm going to keep throwing ideas out there and see which ones stick. I already tried one that only a few people seemed interested in. Flexo managed to convince me that it’d be smarter to stay anonymous, otherwise I’d be self-promoting plenty on here. (I have, on occasion, linked to places where you could find some of my work, but it’s always been indirect.)

I got an account with Kickstarter.com, so I’m going to keep throwing ideas out there and see which ones stick. I already tried one that only a few people seemed interested in.

]]> By: Erica Douglass http://www.consumerismcommentary.com/smithees-first-week-with-only-100/comment-page-1/#comment-203312 Erica Douglass Fri, 05 Feb 2010 19:29:09 +0000 http://www.consumerismcommentary.com/?p=8381#comment-203312 "I don’t want to stop making this donation, because I want to think that someday I can also make a living that way." I think: Why haven't you already started? (Or maybe you have, in which case...why not link it? ;) Podcasts+transcriptions in a certain area that provide benefit for people is a great way to do a monthly subscription website. It's very straightforward to set up a podcast and only somewhat complicated to do a subscription site. Get 'r done! Oh, by the way, since I do tend to beat up on you in the comments...I have a post on Get Rich Slowly next Weds. where I talk about how I blew over $50,000 on discretionary items, and then I justify it. So feel free to come nag at me. ;) -Erica P.S. I only beat up on people I like and want to see succeed! “I don’t want to stop making this donation, because I want to think that someday I can also make a living that way.”

I think: Why haven’t you already started? (Or maybe you have, in which case…why not link it? ;)

Podcasts+transcriptions in a certain area that provide benefit for people is a great way to do a monthly subscription website. It’s very straightforward to set up a podcast and only somewhat complicated to do a subscription site. Get ‘r done!

Oh, by the way, since I do tend to beat up on you in the comments…I have a post on Get Rich Slowly next Weds. where I talk about how I blew over $50,000 on discretionary items, and then I justify it. So feel free to come nag at me. ;)

-Erica

P.S. I only beat up on people I like and want to see succeed!

]]> By: RJ Weiss http://www.consumerismcommentary.com/smithees-first-week-with-only-100/comment-page-1/#comment-203309 RJ Weiss Fri, 05 Feb 2010 18:47:53 +0000 http://www.consumerismcommentary.com/?p=8381#comment-203309 Interesting. I think going back to cash has some benefits. I'm actually trying to go back to cash for the month of February with grocery budget. It's amazing the little things you notice once you go back to cash like Chik-Fil-A purchase. Keep us updated. I'm interesting to see how this experiment works out. Interesting. I think going back to cash has some benefits. I’m actually trying to go back to cash for the month of February with grocery budget.

It’s amazing the little things you notice once you go back to cash like Chik-Fil-A purchase.

Keep us updated. I’m interesting to see how this experiment works out.

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