Saturday, February 18, 2012

On Budgeting

Probably the part of this crazy let's-move-to-London-on-student-visas plan that gives me the most anxiety is just how we're going to pay for it. London is widely acknowledged as one of the most expensive cities in the world. (Even if it did slip from #17 to #18 between 2010 and 2011.) A cursory search of tiny, poorly-appointed flats online has lead me to believe we'll be lucky to get out for under $2000 in rent per month for a shoebox. And while my new job is better-paying than any teaching job I've ever had, I've had to amp up my commuting costs (despite my Prius) and have struggled to meet my savings goals each month. Joe and I both need to get realistic about this one, as it really could be the final say in whether or not we get to have this big adventure: how could we be saving more??

photo from www.dailymoneysaving.com

We cut out some of the obvious expenses from last year - no flights or big trips are planned. But we still eat out more than we should, both separately and together. I still buy clothes and have my eye on not one, but two pairs of $80+ flats at Nordstroms. I fear that we aren't being serious enough about stepping up our frugality, challenging ourselves to save not the minimum to meet our modest savings goals, but instead daring ourselves to put away every possible penny we can. It's something we have to dedicate ourselves to. If we don't, we'll still be living in SoCal next fall, wondering if that extra drink out with friends was really worth it...

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