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Lets Talk About Daily Spending

The Grind

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I find myself spending 5-15 bucks every single day.

I cant focus where I live, just way too depressing, so I go to coffee shops to work. Get a coffee, 2-3 dollars right there. Sometimes I go to 2 places in the same day, 2 coffees.

I also buy food to last me 2-3 days. So I go to the grocery store often.

I wonder how much money other people spend on a daily basis.

What do you spend money on eveyday or frequently that you probably shouldnt?

If your trying to build a business, or work on a side project to change your financial future, step #1 is to minimize your expenses as much as possible.

Mine are quite low, but even a 2 dollar coffee every day is 700 a year just for a coffee a day. Thats a lot.

Not including business expenses, because some of you are spending thousands a day on media buying, etc. Not including business expenses.

And if you havent "made it" yet.

What do you spend money on freqently? And how much are you spending?

Also lets talk about how you rationalize spending said money to yourself.

My rationalization: When and If I "make it" 2 dollars a day will be nothing, and its nothing to worry about. However because my income is so low, it is a big deal.
 
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voltron

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as someone in a similar situation i think the answer is easy. You need to budget and live within your means. For most people at my level that doesnt include $700 in coffee a year. Of course thats way easier said than done. Im still working on myself and my spending habits too.

I downloaded an App called "Mint" which is good for tracking your spending/deposits. Gives you a guilty reminder when you go over your food/travel/ATM budgets for the month.

The answer is simple - budget & spend less. Doing it is hard :(
 

Ravens_Shadow

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I use mint as well, www.mint.com. Really helps you budget everything you do, and you can set budgets for yourself. Like fast food for me is bugeted at $7.00 a month.
 

Kingmaker

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Places to get free wi-fi:
- Library
- Starbucks with an outside patio (never been asked to buy a coffee)
- Shopping malls and plazas (park your car and work in passenger seat - signal is strong in those places)

How to spend less on food:
- Buy in bulk to last you a week
- Cook and take meals with you
- Never eat out
- Intermittent Fasting (you're only eating within 8 or less hours a day, while losing fat and having more mental clarity)

+1 for Mint and budgeting
 
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theag

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Too much lately, since I almost always ordered food due to lack of time and smoked a big pack a day until just a few days ago when I decided to quit. So that was about 50/day in total. Want to get back to ~15-25/day with precooked high quality diet food. I drink a lot of coffee but the company pays for it :>

You should rent a seat in a coworking space or shared office. They have wifi + coffee + good working atmosphere.

Also, like my fellow German above points out, you should focus on getting your income UP instead of minimizing expenses.
 
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Gsuz

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Spot on in regards to the frugality. It has a hidden cost coming with it which is: Becoming averse to risk and not seeing value in things. Have said it before: if you just need a mattress and a place to sleep, there is a chance you'll get exactly that.

Food: 30/day
I order waaaaaay too much food, also not always the healthiest kind of food, because there is no meal prep service in my area that delivers cooked meals and not bags of groceries that you have to cook on your own. I try to keep it healthy by ordering Chinese food with chicken or duck and some veggies. But then I also have some ice cream with it, so there goes that. I wish there was a service where you could just tell them your total calories, macros and have them deliver hot food 2 times a day.
Rationalization: I hate cooking, tastes like the most bland shit imaginable, ordering saves time and nerves
 
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FeaRxUnLeAsHeD

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So i'll talk in terms of 2 benefits: Time AND money savings.

I shop at the supermarket once every two weeks and buy enough for 2 weeks to save myself time running every few days. I spend about $110 every 2 weeks.
I spend money on gas, which is about $30 a month
Rent for the summer is $500 a month, sleeping in a little shitty room with a mattress on the floor, a crappy desk, a chair, and all of my clothes in briefcases.
During the school year I do a payment plan and divide up my school tuition into like 8 monthly payments of $1000 a month or something.
Cell phone is $37 a month for unlimited data, text, and 300 calling minutes (Virgin Mobile)

That's pretty much all i spend. An occasional few meals out once and a while.
 

Bila

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I find that people who are over rationalizing about spending and money are the most miserable ( my observation )


Ok, budgeting and spending wisely ( wealth preservation ) is great and all the blabla but ....$2 cooffe ?? ...Come on !! focus your energy on ways to make $ 2000 a day.



Enjoy life while you can!!
 

Digamma

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I find that people who are over rationalizing about spending and money are the most miserable ( my observation )
I agree. Frugality is horrible.

I come from a pretty poor family, so I never got the habit of spending much money. I cook and eat simple, dress simple, and I don't like to own much stuff.
What I do buy, though, I buy of the best quality. When I do go out, I don't worry about how much I'm spending.

As long as you spend less than you make, you're golden. The way I do it: I know how much I need for fixed expenses (I do a generous estimate) and how much I want to save. Take that out and keep the rest as pocket money. That's the money I can spend.
I've been penniless most of my life, if I run out of money and have to not spend for a week it's not a problem at all. It even helps - keeps you grounded.
 
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theag

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FeaRxUnLeAsHeD

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I find that people who are over rationalizing about spending and money are the most miserable ( my observation )


Ok, budgeting and spending wisely ( wealth preservation ) is great and all the blabla but ....$2 cooffe ?? ...Come on !! focus your energy on ways to make $ 2000 a day.



Enjoy life while you can!!

Depends on what it s you're cutting out and why.

I'd cut out coffee. The cost benefit is only a perk. I'd cut out coffee because its a stimulant and no good for your health. Its a drug.

Then I'd enjoy my $700 a year.

I wouldn't cut down on shit you need like bars of soap, but things that are cheap and no good for you are a double benefit to cut out. $ and health, for instance
 

DaRK9

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Before I had my own space I booked student rooms at my library. Wifi, books and quiet work area.

But as far as a few bucks, meh. I enjoy nice coffee.
 
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The Grind

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You guys are going a bit too extreme with your saving IMO. Focus on the goals more, leave the 7 bucks a day coffee calculations aside.
I disagree, heres why.

Im asking to get other people perspectives on daily spending in general. This thread has nothing to do with "set more goals and dont worry about it".

I have no clue what other human beings spend on a daily basis. I made this thread to find out. I know what I spend daily, and it negatively impacts my life.

But if I spend 5 a day and "normal people" spend 35 a day. I'm on the right path.

7 a day is a lot of money if you dont make much with a j o b.
 

The Grind

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Depends on what it s you're cutting out and why.

I'd cut out coffee. The cost benefit is only a perk. I'd cut out coffee because its a stimulant and no good for your health. Its a drug.

Then I'd enjoy my $700 a year.

I wouldn't cut down on shit you need like bars of soap, but things that are cheap and no good for you are a double benefit to cut out. $ and health, for instance
Yeah thats BS lol.

Coffee is excellent for your health. It's very healthy. Period.

Let me ask you, how many articles and research have you done on the benefits of coffee before typing your opinion?

Let me guess: None. Because if you did any, you would know that coffee is good for you. So what does your opinion mean? Nothing.

Tough Love.

Also, if you want to go the "its a drug" route. Dude everything is a drug. All food are drugs. Its irrelevant, if its a drug...
 

FeaRxUnLeAsHeD

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Yeah thats BS lol.

Coffee is excellent for your health. It's very healthy. Period.

Let me ask you, how many articles and research have you done on the benefits of coffee before typing your opinion?

Let me guess: None. Because if you did any, you would know that coffee is good for you. So what does your opinion mean? Nothing.

Tough Love.

Also, if you want to go the "its a drug" route. Dude everything is a drug. All food are drugs. Its irrelevant, if its a drug...

Caffeine, dude.

Strong assumption, but I've been studying nutrition, bodybuilding, and fitness for 5 years.
 
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D

DeletedUser394

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Yeah thats BS lol.

Coffee is excellent for your health. It's very healthy. Period.

Let me ask you, how many articles and research have you done on the benefits of coffee before typing your opinion?

Let me guess: None. Because if you did any, you would know that coffee is good for you. So what does your opinion mean? Nothing.

Tough Love.

Also, if you want to go the "its a drug" route. Dude everything is a drug. All food are drugs. Its irrelevant, if its a drug...

I was taking your side in this thread until this.

No reason at all to be a jerk, he didn't write anything that warranted that kind of response. It isn't tough love - it's just you lashing out and being a jerk.

Sounds like you're being overly defensive for no reason.

As for coffee, which seems to have started this, I've got no opinion on whether it is good or bad for you, but if you are in peak physical and mental condition with adequate sleep there is no need for caffeine of any form.

If you drink it or if you don't drink it doesn't matter, but you started a thread with the premise of keeping expenses low, then mention coffee as one of your spending vices, so naturally it would make sense to eliminate or lessen that expense from an outsider's perspective.

Anyway, as to your original question. I spend 50% of my income. The other 50% goes to my F*ck You funds towards further financial independence.

What do I spend money on? Travel and rent are my top two expenses. I don't buy much 'stuff' because I prefer travelling over having a shiny new gadget that will be obsolete within a year. So I don't really have day to day expenses.
 

Digamma

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Yeah thats BS lol.
That's an attitude for someone who is about to write horseshit.
Coffee is excellent for your health. It's very healthy. Period.
We can put a period there if you want, it doesn't make it true.
Let me ask you, how many articles and research have you done on the benefits of coffee before typing your opinion?

Let me guess: None. Because if you did any, you would know that coffee is good for you. So what does your opinion mean? Nothing.
What research did you do? I did go to med school, and I cannot remember one book or article that said anything like that. Caffeine is a drug with toxic properties and adverse effects. The fact that moderate consumption doesn't kill you doesn't make it healthy. It makes it not toxic enough. Heroine doesn't kill you in small doses. Nor does carbon monoxide. Nor cyanide. Take little enough of anything and it won't kill you, that doesn't make it good.
Tough Love.
Did you scream it while batting your chest?
Also, if you want to go the "its a drug" route. Dude everything is a drug. All food are drugs. Its irrelevant, if its a drug...
If you want to define drug as anything which has biological effects, yes. But, if you were willing to lower yourself to the level of normal people, you would understand he meant "drug" as "psychoactive substance with addictive qualities and withdrawal symptoms", like the rest of the world does, the same way you know that when I say that your post is horseshit I don't mean, literally, that it is equine feces.
 

Charnell

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That's an attitude for someone who is about to write horseshit.
We can put a period there if you want, it doesn't make it true.
What research did you do? I did go to med school, and I cannot remember one book or article that said anything like that. Caffeine is a drug with toxic properties and adverse effects. The fact that moderate consumption doesn't kill you doesn't make it healthy. It makes it not toxic enough. Heroine doesn't kill you in small doses. Nor does carbon monoxide. Nor cyanide. Take little enough of anything and it won't kill you, that doesn't make it good.
Did you scream it while batting your chest?
If you want to define drug as anything which has biological effects, yes. But, if you were willing to lower yourself to the level of normal people, you would understand he meant "drug" as "psychoactive substance with addictive qualities and withdrawal symptoms", like the rest of the world does, the same way you know that when I say that your post is horseshit I don't mean, literally, that it is equine feces.
Im-not-a-rapper-gif-loop.gif
 
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Leo Hendrix

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Spend below your means.

Focus on creating & increasing income NOT saving.
 

jockinbox

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I spend like 80-100 a day on average

Last week someone stole my wallet at the gym and I had to wait to get issued new credit/debit cards

Oddly enough I spent $0 for about a week and didn't notice a huge change. I just ate steak, eggs, and ramen for a week. Drank folgers coffee with Walmart creamer. No productivity difference at all.

I think it's important to not have any feelings towards money. If you think man if I made 500 a day I would have X lifestyle then you would be frustrated all the way there, if you make it.

Money is just a tool at the end of the day, if you worry too much about protecting it you'll end up losing it
 

RazorCut

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Mine are quite low, but even a 2 dollar coffee every day is 700 a year just for a coffee a day. Thats a lot.

IMHO this is the wrong mentality. If you cannot do something in the next few weeks that will increase your worth by $13.50 a week to cover your coffee bill then there is something seriously wrong and you need to re-examine your situation.

Remember the average mindset is to focus on saving while rich mindest is to focus on earning.

http://www.rsvlts.com/2012/09/06/21-ways-rich-people-think-differently-than-average-people/
 
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The Grind

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IMHO this is the wrong mentality. If you cannot do something in the next few weeks that will increase your worth by $13.50 a week to cover your coffee bill then there is something seriously wrong and you need to re-examine your situation.

Remember the average mindset is to focus on saving while rich mindest is to focus on earning.

http://www.rsvlts.com/2012/09/06/21-ways-rich-people-think-differently-than-average-people/
I understand what your saying, but im not talking about rich vs poor, the fastlane, or any of that.

Im literally just curious how much money people spend on a daily basis.
 

RazorCut

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I understand what your saying, but im not talking about rich vs poor, the fastlane, or any of that.

Im literally just curious how much money people spend on a daily basis.

Surely that is just like asking how long is a piece of string? It lacks relevance.

If I say I spend less than $20 a week on coffee's and entertainments how meaningful is that? Not very as it is relative to my position alone and could easily be out of context. If I also say I spend $850 a week covering family, mortgage and other costs or that yesterday I spent over $10 on 2 coffee's alone how does that relate? People tend to spend in relation to their disposable income.

Maybe a better question would be what percentage of your disposable income do you spend on consumer niceties like coffee, lunch, alcohol etc.?

Not trying to have a dig so please don't take it the wrong way. Just looking at how to turn meaningless data into something more meaningful.
 

The Grind

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Surely that is just like asking how long is a piece of string? It lacks relevance.

If I say I spend less than $20 a week on coffee's and entertainments how meaningful is that? Not very as it is relative to my position alone and could easily be out of context. If I also say I spend $850 a week covering family, mortgage and other costs or that yesterday I spent over $10 on 2 coffee's alone how does that relate? People tend to spend in relation to their disposable income.

Maybe a better question would be what percentage of your disposable income do you spend on consumer niceties like coffee, lunch, alcohol etc.?

Not trying to have a dig so please don't take it the wrong way. Just looking at how to turn meaningless data into something more meaningful.
The question was meaningful to me.

Was literally just curious, and am still curious about daily spending. Especially here.

People tend to spend in relation to their disposable income. EXACTLY.

Thats why im curious. Am curious for lots of reasons.
 
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RazorCut

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Was literally just curious, and am still curious about daily spending. Especially here.

Be careful. You know what they say.....;)


2015-07-12_16-28-23.jpg
 

JAJT

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Easiest test to see how far off you are from your spending intentions:

Take out a sum of cash equal to what you consider to be on the higher end of reasonable monthly spending. Put it in your wallet and take your credit cards out. See far far into the month it gets you.

I've never seen this test result in anything less than a "holy shit, that can't be right" result. In some cases people find they are out of cash in DAYS when they thought that amount was reasonable for an entire month. When that happens, alarm bells should ring.

I'm not a big advocate of penny pinching but I am a HUGE advocate of understanding your personal cashflow. It doesn't matter how much you spend or what you spend it on - as long as you understand and acknowledge where the cash is going. If you don't track this stuff, nobody else will.
 

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I think I spend about $30 a day. But I have no idea what you will get out of this. Do I include my amazon purchases each day?

I go to the gym but it's paid for yearly, so it's $.66 a day. Do I include this?

If you think you are spending too much per day, then you are.
 
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The-J

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OP, are you trying to see if anyone's lifestyle spending changed with their income increase?

Because it probably did.

But around here, most of us are smart enough to live within our means and focus our energy in expanding our means.

Don't worry about what other people spend. It really doesn't matter.

If you make $100/day, spend less than that. If you make $1000/day, spend less than that. Stick to those rules and you will be fine.

P.S. I've never seen a $7 coffee. Most I've ever paid was $6 for an irish coffee.
 

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As James Altchur says

"Don't try to save money by not buying expensive coffee or taking subways instead of cabs. That's a myth. The best way to save money is to make more"
 

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