Our rent is due to go up by $20 in June. I received a $.36 raise this year ($57/mo) and as a result, our food assistance dropped by $50/mo. Makes sense. But now rent is on the rise as well. The $20 won't break us, as I will still come out $80/mo ahead (before including ~$80/mo commission), but it is still a set-back.
Our expenses are almost as bare-minimum as it gets. Prepaid phones (actually, my phone is on a family plan with my parents, but only costs $2/mo more than prepaid), slowest Internet, no cable, only $40/mo in fuel (no commuting), etc. We even slashed our electric bill by about $15/mo by line-drying our clothes inside rather than using the dryer. We only contribute $80/mo of our own cash to groceries ($230/mo for two adults and one child after assistance).
The only unnecessary expense is $30/mo in coffee.
Water/Sewer/Garbage is through the roof at $80-110/mo. No idea how to avoid that, being on a rented boiler system, an having to pay for other residents leaving crap everywhere.
So, that brings me to car insurance. We recently paid off our car, and still carry full coverage at $140/mo. This is the cheapest. We have looked around. If we drop all but the necessary coverages, it goes down to about $65/mo. Our car cost $5,500 at the time. In order for a downgrade to pay for itself to fund another vehicle, it would take six years to save $5,500.
What to do...
Rent On the Rise - Where to Trim the Fat?
April 9th, 2013 at 04:48 pm
April 9th, 2013 at 05:59 pm 1365530342
Could you go without a car if something were to happen? Do you have ANY cash that you would be willing to use to purchase a new to you vehicle if this one was totaled? What are you willing to do IF something were to happen...AND is it worth it to save the money now. Only you know what makes sense to you.
Also, do you have any way to bring in any extra funds to make up the difference? You talked about donating plasma in the past.
April 9th, 2013 at 07:52 pm 1365537120
You've often mentioned curb-side items you've acquired with potential for future earnings. How are you moving that potential forward? Can you put some time and effort into fixing/painting/re-selling rescued/re-purposed items to sell on CraigsList or Buy 'n' Sell in your community? What skill sets can DW put to use to increase income? Do you have any potential to grow herbs, tomatoes or bush beans in containers? Are you signed on for any of the Angel Food Ministries or similar groups?
I hope DW has started researching no cost/low cost experience enrichment programs for baby/toddler. Some blogs can generate income and you both may have frugal life potential ideas.
April 9th, 2013 at 09:53 pm 1365544386
Between gas and insurance you'd be almost $200 a month better off. $2400 a year would cover a lot of taxis, rental cars, and care shares...
April 9th, 2013 at 10:23 pm 1365546220
April 10th, 2013 at 02:09 am 1365559790
April 10th, 2013 at 01:47 pm 1365601630
April 10th, 2013 at 08:13 pm 1365624782
Hate to say it but you may need to think about cutting back on the coffee if you want to reduce your expenses, unless you can find some other source of income.