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"Thrifty Spender Experiment"
It is Easter weekend and the middle of Passover. The overarching themes of each holiday has to do with remembering and honoring the past and preparing for the future (I apologize for the simplification, but this is a blog not an essay). Whatever your tradition, Spring is a time of reflection and rebirth; what better [...]
Continue Reading →The Rule: Only buy items that have a per unit price of less than $1 per pound.
First, let me give credit; this rule comes from Jeff Yeager and his book, The Ultimate Cheapskate’s Road Map to True Riches. The rule is fairly self explanatory, if the food item cost more than $1 [...]
Continue Reading →When I started the Thrifty Spender Experiment, I knew there would be challenges, but I underestimated the difficulty. I especially underestimated the power of temptation when it comes to day to day spending. Day to day spending can be and is a real budget killer. See if these sound familiar: the Starbuck’s coffee in the [...]
Continue Reading →Just a quick tip; http://www.fueleconomy.gov/ allows you to search and research vehicles by fuel economy. The website provides robust and easy searching to find cars and evaluate their fuel economy, Carbon Footprint rating, and Air Pollution score. So, you can find the greenest of green car like the 2011 Nissan Leaf or an affordable [...]
Continue Reading →Whenever possible (when times are good) you should pay more than your minimum monthly payment toward any car loans and student loans. So few people take this action, but it has benefits beyond the obvious and can provide a short term safety net if times go bad.
The obvious benefits are that you pay down [...]
Continue Reading →Here at the Thrifty Spender Experiment, we are always looking for ways to save money. From a pure money saving perspective, can you really save money with an electric vehicle?
Believe me, I am tempted by the prospect of not having to buy gasoline, but electric cars require recharging and are significantly more expensive than [...]
Continue Reading →On January 5th, I received my first assignment from the Thrifty Spender Experiment; the assignment is to spend no more than $348 per month on food (for a 2 person household) and spend nothing on alcohol. That food budget effectively amounts to $5.72 per day, per person. Our personal goal is [...]
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Thrifty Spender Experiment – Assignment 1, Food and Wine
Dear Matt and Nicole Berkus
Peace and grace be with you at the start of the New Year. I, your T.S.E. Handler, have your first spending assignment. You are to stop purchasing any alcoholic beverages: beer, wine, liquor, etc. Second, you are to [...]
Continue Reading →Abstract:
Can a bankruptcy attorney, by choice, make lifestyle changes which that bankruptcy attorney often must advise his middle class and formerly wealthy clients to make in order to survive financial setbacks? What are the real struggles and challenges in making those changes? What changes really are necessary? The goal of T.S.E. is to have [...]
Continue Reading →There is one limitation to the Thrifty Spender Experiment. For practical reasons (stay married), the experiment will not include actual modification of non-discretionary spending; which really means the experiment will not include major down-sizing. What do I mean?
For most families facing financial distress there are expenses that must be incurred in some way such [...]
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