c/budgeting-wins

The 50/30/20 rule is great until rent eats 45% of your take home

Moved to Austin last year and my rent is 45% of my income. No way around it. How do you guys handle the budgeting rules when the numbers just don't fit?

3 comments

oliviagrant•3d ago

My coworker swore by the 50/30/20 rule and I finally tried it

Jenny from accounting kept pushing the 50/30/20 budget on me for like 6 months. I figured it was too simple to actually work since I had all these spreadsheets with 15 categories. Finally gave it a shot back in March and I'm actually saving $150 more per month now. The big change was realizing my "needs" category was way too broad before. Has anyone else had a simple system beat their complicated one?

4 comments

amy_foster79•18d ago

Swapped out daily coffee shop runs for a french press last month

I was spending like $60 a week at the local roaster downtown, and now I'm at like $18 for a bag of beans that lasts two weeks. The press was $25 on sale and honestly the coffee tastes better. Has anyone else had success switching up one daily habit like that?

2 comments

wilson.sam•20d ago

My fridge died and I saved $200 by fixing the condenser coil myself

So last Tuesday my fridge started making this weird clicking noise and then just stopped cooling. I was about to call a repair guy who quoted me $350 just to look at it. Instead I watched a 10 minute YouTube video and found out the condenser coils were completely caked with dust and dog hair. Took a vacuum and a coil brush from Amazon for $12 and spent 20 minutes cleaning them out. Fridge kicked right back on and has been running fine ever since. Anyone else had a simple fix save them from a huge repair bill?

3 comments

annas87•20d ago

My grocery budget dropped $80 a month after one change

I switched from buying name-brand cereal to the store brand for about six months back. Turns out the store brand tastes the same and I’m saving nearly 20 bucks a month just on that one swap. Anyone else notice a big difference from one small switch like that?

3 comments

taylor.amy•23d ago

Hit $50k in savings last month... but my coworker says I'm missing out on life

I overheard my coworker Jenna at lunch yesterday telling someone I'm 'hoarding cash' and should travel more. She said I'd regret not spending in my 30s. But I'm sitting here with a paid off 2018 Civic, no credit card debt, and a 6 month emergency fund. Meanwhile she's complaining about her $400 a month car payment. I get her point about experiences. But seeing that $50k number in my account gave me a peace I never had before. Can you really put a price on that security? What do you all think, is there a middle ground I'm missing?

2 comments

jenniferw82•24d ago

Stumbled on a stat that says average American throws away $150 a month on unused subscriptions

Saw that number on a NerdWallet article last night and it made me go through my bank statements from 2023 to find $45 still going to a gym membership I haven't used since February where do you folks usually check for these things?

2 comments

masonm70•25d ago

Crossed $50k in emergency savings this year and never thought I'd get there in my 30s

Started with just $500 a month after rent back in 2019 and finally hit that number last Tuesday, but now I'm wondering if I should shift some into a higher yield account since CD rates are actually decent again - what are you guys doing with your savings right now?

3 comments

seanlee•26d ago

That coworker who told me to save 50% of every paycheck

My buddy Mike at the warehouse told me to put away half of each check no matter what. I tried it for 3 months and ended up eating instant noodles for dinner 4 nights a week. Has anyone else gotten advice that sounds good on paper but just doesn't work with a regular income?

2 comments

kevin_harris78•27d ago

I actually regret skipping the emergency fund for a higher savings rate

Last year I was so focused on maxing out my retirement contributions that I let my emergency fund drop to just $500. I was working from a coffee shop in downtown Portland when my laptop died and I needed $900 for a replacement on the spot. Had to put it on a credit card and carried that balance for three months, paying $45 in interest. The extra retirement savings I earned during that time was completely wiped out by the interest and stress. Now I keep six months of expenses in a high yield account before I invest a single extra dollar. Has anyone else had a similar moment where being too aggressive with savings actually set you back?

2 comments

tara_jones94•28d ago

Unpopular opinion: The 50/30/20 rule is way too loose for most people

I tried the 50/30/20 budget for 6 months last year and ended up broke every month before payday. My rent alone in Austin is $1200, which is already 40% of my take home. So I switched to a zero-based budget where every dollar has a job, even if it's just $5 going to coffee. It took 3 months to really get the hang of it but now I actually save $200 a month instead of hoping I have leftovers. The 50/30/20 works if your rent is cheap but for most of us in expensive cities it's just wishful thinking. Has anyone else had better luck with a different method?

3 comments

felix_lane99•1mo ago

I compared cash envelope system vs. a budgeting app for 3 months

Tried the cash envelope method back in March after my credit card bill hit $800 one month. Switched to a free budgeting app in June and my spending dropped by $150 the first month. Having to physically hand over cash made me think twice, but the app's alerts were way more annoying and effective for me. Anyone else find that old school methods just work better for impulsive spenders like me?

3 comments

casey_harris•1mo ago

TIL turning down the AC at night saves $40 a month

My electric bill jumped $60 in July, so I set the thermostat to 78 at night instead of 72. After two months it dropped by $40, and I barely noticed the difference.

2 comments

finley729•1mo ago

Visited a food co-op in Portland and changed my mind about bulk bins

I always thought bulk buying was just for rich hippies, but after seeing how much cheaper oatmeal and rice are per pound there, I saved $12 on my first trip alone. Has anyone else found a weird spot that changed their budget mindset?

3 comments

jesse994•1mo ago

Debate: did my credit card balance transfer actually save me money or just drag things out?

I had this $4,200 balance on a card with 22% APR. So I moved it to a 0% balance transfer card thinking I'd knock it out in 6 months. Figured the 3% fee was worth it, came to $126. Well here I am 11 months later and I still owe $1,100 on it. I paid $104 a month but kept telling myself I had time. Now the 0% is about to expire and I'm wondering if I just fooled myself into taking longer than if I'd just gritted my teeth on the high interest. Did any of you actually come out ahead with these transfer deals or is it mostly a mental trick?

2 comments

paige86•1mo ago

Spent $200 on a meal kit service to save on groceries. Ate takeout all month anyway.

I signed up for one of those meal kit boxes thinking I'd finally stop wasting food and money. First week was fine, but by week two I was too tired after work to cook the stuff. Ended up ordering pizza while the ingredients sat in my fridge going bad. After a month I had spent $200 on the kit plus another $150 on takeout. Has anyone else fallen for the "this will save you money" trap with these things?

3 comments

elizabethhayes•1mo ago

My brother in law swore by the 50/30/20 rule for years, I finally tried it

He kept telling me to split my paycheck into needs, wants, and savings. I figured it was too simple and wouldn't work with my irregular hours as a hygienist. Last January I finally gave it a shot after missing a credit card payment. Six months in, I paid off $800 on a dental supply store card I'd been dragging around. The trick was tracking each dollar before I spent it, not after. Has anyone else found that a basic percentage system actually sticks better than complicated spreadsheets?

2 comments

claire_ramirez•1mo ago

I stopped buying coffee out and it saved me $680 in 3 months

I was dropping $5-6 almost every morning at this cafe near my office. I bought a $20 thermos and started making my own pour-over at home, and even with the bag of beans every 2 weeks I'm still way ahead. Anybody else shocked at what they actually spend on little daily habits?

3 comments

avery_smith22•1mo ago

Stopped buying avocados for 3 weeks and saved $42 for a simple reason

I noticed I was tossing out half avocados every week because they went bad too fast. So I started buying frozen avocado chunks from the grocery store instead, a $4 bag lasts me two weeks. They thaw out fine for toast or smoothies and I dont waste any. Now I put that $42 toward my emergency fund every month. Anybody else swap fresh produce for frozen to cut down on food waste?

3 comments

gavin_hill27•1mo ago

Overheard at Starbucks that changed my whole budget approach

I was grabbing coffee last Tuesday morning and overheard a guy on his phone say 'I saved $2,000 a year just by switching to a safety razor.' I sat there thinking about how I spend $18 a month on those fancy 5-blade cartridges. That's like $216 a year right there, and I've been doing it for 10 years. I bought a $35 safety razor kit online that night, and after a few nicks I actually love the shave way better. Has anyone else made a switch like that that surprised you with the savings?

3 comments

robin_roberts84•1mo ago

Can we talk about how a simple envelope system saved my vacation fund?

Last month, I started putting $75 cash in a labeled envelope every Friday. I kept it in my kitchen drawer instead of my wallet so I wouldn't spend it. By the end of the month, I had $300 saved for a weekend trip to the coast, which felt way more real than seeing a number in an app. Has anyone else had a win with the physical cash method?

3 comments

felix_lane99•1mo ago

Looking back at my grocery receipts from 2019 is a real eye-opener

I used to spend about $180 a week for my family, but now I'm down to $120 just by planning meals and sticking to a list. Anyone else cut their food bill by a big chunk lately?

3 comments

riveradams•1mo ago

My sister told me to track every single coffee shop visit for a month

She pointed out that my 'small' daily latte habit was costing over $120 a month. I started making coffee at home with a French press and put that money into a separate savings jar. Has anyone else had a simple tip that cut a surprising amount from their spending?

3 comments

lisaf38•1mo ago

My brother insisted I track every single coffee purchase for a month, and seeing that $87 total is what finally got me to start using a French press at home.

Has anyone else had a small, specific piece of advice completely shift how you see a regular expense?

3 comments

finleyh89•1mo ago

My grocery bill in Phoenix dropped by $40 last month after I stopped buying pre-cut fruit

I was at the store and saw the price for a small container of watermelon cubes, it was almost $7. I bought a whole watermelon for $5 instead and spent 10 minutes cutting it up at home. Did the same with pineapple and cantaloupe. It felt silly at first, but the savings added up fast. Anyone else find a simple switch like this that cut their weekly costs?

3 comments