[quote=Hobie]Nice job UCGal. Would sure like this kind of real world analysis and everyday living examples taught to our kids in school.[/quote]
I’m actually running a “money” course with my 13 year old, at his request.
I went over saving, trade offs in spending and savings, and compounding.
I think the problem that most people on a board like this have is that they consider “extras” as essentials. I know my eyes have been widened by my classmates at a class I’m taking at City college. The one girls rent is an example. She’s able to take a full load on 3 nights a week of waitressing. Her boyfriend has a part time gig, and they have another roommate. She and her boyfriend share a car. Most of my classmates take the trolley or ride the bus to school. They don’t buy food in the cafeteria – they have refillable water bottles and fruit stashed in their backpacks.
As for school supplies. I saw a huge mindshift when I put my kids in an inner city school vs a more suburban school in the same school district. (Roosevelt middle vs Standley middle). They are not required to provide ANY school supplies at Roosevelt outside of paper and pencils. Not the case at Standley. It’s because some of the kids at Roosevelt couldn’t possibly afford extra supplies.
As for internet – yeah… add $35/month. (That’s what I pay w/time warner after bitching them out. It’s not turbo… just standard… but it works.)
It’s definitely possible to live on less and plenty of people do. But we have to really drill down on what is an essential expense. Cars are often not essential. Rent and/or mortgage in a non-high end neighborhood is much more affordable. And as my classmate showed – there are pockets of affordability in some of the higher end neighborhoods (mission hills overall is not cheap – but there are pockets that are cheap.)
