Featured Grownups asks this month how we have been coping with an economy that has not exactly been in the best of shape for the past year or so. The topic is Getting Thrifty, and I have to say right up front that the economy has not really effected me personally too much. For the most part, life goes on pretty much as it did in prior years, with perhaps one or two exceptions.
The most notable exception was a conscious decision to delay my vacation plans last year until the cost of gasoline was below $2.50 per gallon. That was necessary because I planned to drive to my destination rather than take a plane. And the reason for that was because I would need a car when I arrived, and I wanted to avoid the cost of renting a car for two weeks.
The second thing I did was to take advantage of my employee discount by using only hotels in the same chain of operations as the hotel I work for. Getting a room for between $29 and $49 dollars per night instead of paying $100 or more per night saved me a bunch. The table below shows the actual costs for these essentials vs. what the costs would have been had I used other services at the lowest available rates.
Actual w/o Savings
Cost of Gasoline: $480.00
Cost of r/t Airfare: $600.00
Cost of Rental Car: $390.00
Cost of hotels: $350.00 $890.00
Total Costs: $830.00 $1880.00
Total Savings: $1050.00
I suppose that unconsciously I am also looking for sales in the supermarket. It's not that I avoid buying anything. It's more like buying a little extra when I find a sale. So while I might normally buy a bag of cookies for $3.00, if I see them on sale at 2 for $3.00, I'll pick up four bags. On that occasion, I would spend twice as much as I might otherwise spend, but I receive four times more than I would otherwise buy. Essentially, I am embracing what cost-free options are available to me, whereas I might not have done so before the economy turned bad.
Another thing I've done recently is stopped buying bottled water. Instead, I now filter my tap water. Filters are cheap, last long, and at the same time I help reduce the amount of plastic that ends up in the landfill.
I've noticed, too, that I am exercising a little more fiscal self-restraint than I used to, though honestly this could be influenced more by that fact that since retiring, I don't have the high salary I once had to work with.
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