Showing posts with label expenses. Show all posts
Showing posts with label expenses. Show all posts

Monday, December 27, 2010

Good Quality But Expensive Or Poor Quality But Dirt-Cheap? A Story About How You Get What You Pay For

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This last summer I had just bought a pair of gorgeous new high-heeled boots. They cost $73 brand-new. While that definitely is pricy by all means, I still thought of that as a bargain buy, since these kinds of boots often range in the $110-180 price spectrum. So happily, I bought these boots and took them home.

high-heeled boots

A week or so later I was going out to a party. I put on my brand new sexy boots, walked out the door and down the street to catch the bus.

night-bus-street

It wasn’t more than a few minutes of walking when suddenly one of the heels of my gorgeous new boots had fallen off(!) I was mortified. With broken heel in one hand and bruised pride in the other I had to wobble all the way back home to my apartment again to change my boots. I entered my apartment door, quickly changed my boots, swore a little (maybe, a lot), and made a mental note of taking the boots to the repair on Monday. I couldn’t return them because I bought them at a market, so the vendors where long gone by now. Maybe that should have been a warning sign to me to begin with, not to buy boots at a market. But I’m frugal, so I’ll do anything to save a buck or two. So off I went to get my boots repaired on Monday after work. The cost of this, you ask? It totalled at $27.

shoe-repair-sign

Ok, so there I was, newly repaired shoes and all. Happy as pie. So I had plans to go out again the next weekend…

night-lights-city-street

So the next weekend I got ready to go out. I put on my new boots and walked out the door. And sure enough a few minutes down the road – my other heel broke. Yet again I had to wobble home down the busy street, cursing and swearing, back to my apartment. The following Monday (you know the drill…) I went to get my boots repaired again. This time I had a lengthy argument with the shoe repair man, because he wanted to charge me $27 for the other heel. I thought that he was ripping me off, so I argued tooth and nail to get a discount. But no go, unfortunately. His prices (meaning price pr. heel) were fixed.

shoe-repair

So there I was forking out another $27 on top of the original $27 for the first heel and on top of the original $73 dollars that the boots cost originally.

100-dollar-bills

So all in all I ended up paying $127 for my pair of boots.

Yes, you heard me, $127, I could have bought myself a good pair of quality boots to begin with and spared myself all of the hassle. In this case, I really did get what I paid for. Poor quality boots. At a cheap price, sure, but what good are they if they have no heels. So in order to get “fully functional” boots, I had to fork out the extra $54. So sometimes it really does pay to buy good quality. I know the 3 dvd-players (the latest one is on the fritz by the way, so it’ll probably be 4 very soon) that I’ve owned during the last 8 years  are a solid testament to that. Making electronics that don’t last more than 2 years is very normal nowadays, as long as it’s priced at a bargain, then we accept it. But I guess, if I had bought good quality from the get-go (both in terms of the dvd-players and the boots) then they would probably last me longer.

What’s your take on all of this? Better to buy good quality products but that are more expensive or buy poor quality products at a cheaper rate? I’d like to hear your thoughts on this, so do leave a comment in the comments section. I’m interested in hearing other people’s experience with this.

By the way, if you knew me in real life, you’d know that I’m a very frugal person and that these boots were in fact the only pair of shoes I’ve bought in the past 2 years. So maybe that’s why it angered me so much, when they broke (twice!) So normally I would say that buying cheap and compromising on quality is okay with me. But after that experience, it made me wonder. In fact I was so pissed of that I talked to my dad on the phone complaining to him about boots, hahaha, can you imagine. :) What dad’s have to go through with their daughters.

 

Photo credits: 1, 2, 3, 4, 5, 6.

Wednesday, December 08, 2010

Spending Habits: How much money I have spent this week (November 29–December 5, 2010)

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This is a weekly review of my spending habits for the week of Nov.29 - Dec. 5, 2010.

Date Amount
Monday Nov. 29 330.30 kr. ($60)
Tuesday Nov. 30 233.95 + 193.20 + 44 = 471,15 kr. ($42.50 + $35.20 + $8 = $85.70)
Wednesday Dec. 1 342.45 kr. ($62.30)
Thursday Dec. 2 160.90 + 200 = 360.90 kr. ($29.25 + $36.40 = $65.60)
Friday Dec. 3 280.95 + 625 = 905.95 kr. ($51.10 + $113.70 = $164.80)
Saturday Dec. 4 0 kr. ($0)
Sunday Dec. 5 0 kr. ($0)

TOTAL: 2410.75 kr. ($438.40)

So there you have it. A tally of what I’ve spent during the course of the week. I’ve split things up with plus’es (+) because I wanted to differentiate between my actual spending habits and bills. So the first amount is my actual “spending habits” (this is mostly food and some toiletries) while everything after the first amount are bills.

So there you go. An overview of my spending habits for said week.

If you’re interested in reading my posts for the previous weeks, you can take a look at them here:

Spending Habits: How much money I have spent this week (November 8-14, 2010) 

Spending Habits: How much money I have spent this week (November 15-21, 2010)

Spending Habits: How much money I have spent this week (November 22-28, 2010)

This is week 4 of my expense tracking:

On Week 1 I spent $80.

On Week 2 I spent $189.

On Week 3 I spent $143.50.

On Week 4 I spent $438.40. (Because it’s the 1st of the month, and all my bills come in at this time.)

Friday, December 03, 2010

Pay Day

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So it was pay day on Tuesday. Hence I’m writing this post today to give myself a better overview of my money situation.

Happy-Money-Guy

Income after taxes: 10,768.46 kr. ($1,957.90)

Amount left after the fixed bills are paid (not including electricity, phone bill, public transportation, et.al.):  4,229.56 kr. ($769)

Snowflaking toward debt: 500 kr. ($90)

Snowflaking toward savings: 500 kr. ($90)

Budgeting for presents this Christmas: 850 kr. ($154.50)

Buffer: 300 kr. ($54.50)

Week 1: 400 kr. ($72)

Week 2: 400 kr. ($72)

Week 3: 400 kr. ($72)

Week 4: 400 kr. ($72)

Week 5: 400 kr. ($72)

This post probably makes more sense to me than to any of my readers. But I really needed to break it down in the above manner. For my own sake. This probably isn’t the most exciting post, so feel free to browse around my sidebar and my archives for more informative posts. This post was, admittedly, solely for me and my overview. And for my peace of mind.

Saturday, November 27, 2010

Spending Habits: How much money I have spent this week (November 22-28, 2010)

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This is a weekly review of my spending habits for the week of Nov.22-28, 2010.

Date Amount
Monday Nov. 22 $24.50
Tuesday Nov. 23 $24
Wednesday Nov. 24 $15
Thursday Nov. 25 $43
Friday Nov. 26 $37
Saturday Nov. 27 $0
Sunday Nov. 28 $0

TOTAL: $143.50

The last 2 weeks I’ve made similar posts:

Spending Habits: How much money I have spent this week (November 8-14, 2010) 

Spending Habits: How much money I have spent this week (November 15-21, 2010)

This is week 3 of my expense tracking:

On Week 1 I spent $80.

On Week 2 I spent $189.

On Week 3 I spent $143.50.

 

Final Thoughts

I started this rigorous expense tracking 3 weeks ago to take a closer, introspective look at how I was spending my money. Very honestly and very openly. I’ve already had a couple of those “aha” or “Eureka” moments during  these weeks. I normally pay attention to what I spend, but when you’re living on around $537 a month after all fixed expenses are paid (not including phone bills, electricity, or food) , you not only have to pay attention…you  really have to control every single coin and bill that goes out of your wallet. Keeping a close eye on every cent you spend. So this expense tracking has really helped me get a clear and concrete overview (one that I realize I needed) of how much money I spend daily and weekly.

I realize that I spend on average $75 a week. However, this average is misleading as I was sick on the first week. So the average should be based more on the last 2 weeks, which should be $166.25.

So I realize I spend on average around $166.25 a week.

I realize that I should budget for $181 on average a week - to give myself a realistic buffer.

However, $181 a week would be $724 a month, and as mentioned above, I only have around $537 a month to spend. So no wonder I’m in the hole right now and having difficulty beginning my paybacks to my Dad. I really needed to see this black-on-white. I’ll have to take a good look at my paycheck next month, take a look at the bills I need to pay (because I know that there’s a $124 annual bill that’s coming up very soon), and then budget weekly. What I mean by that is make a budget for each week. And take an overview every fortnight, as well as weekly & monthly. Just to really keep a close eye -and close hold- on my spendings.

 

Well, that’s all for now. Bye, again.

Sunday, November 21, 2010

Spending Habits: How much money I have spent this week (November 15-21, 2010)

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This is a weekly review of my spending habits for the week of Nov.15-21, 2010.

Date Amount
Monday Nov. 15 $43.50
Tuesday Nov. 16 $0
Wednesday Nov. 17 $33
Thursday Nov. 18 $33.50
Friday Nov. 19 $39
Saturday Nov. 20 $40
Sunday Nov. 21 $0

TOTAL: $189

Last weekend I made a similar post  named Spending Habits: How much money I have spent this week (November 8-14, 2010).

I began only just last week to rigorously track my expenses everyday. This is week 2 of my expense tracking.

Thursday, November 18, 2010

Annual Overview Of Incoming Bills

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I decided to do a post on here with an annual overview of the bills that I receive during the year listed by month. This is to give myself a greater and clearer perspective. So they no longer come “unexpectedly”. Because some of my bills are paid quarterly and annually as opposed to monthly. This list will be a work in progress because I will continue to add to the list as the months progress, adding the “unexpected” items as they arise. But right now these are the “known” items.

 

October:

Public Service TV License: 1140 kr. ($207.50) (quarterly)

Unemployment Insurance: 1173 kr.  ($213.50) (quarterly)

 

November:

Electric Bill: 1051 kr. ($191) (quarterly)

Industry Publishing Listing: 625 kr. ($124) (annually)

 

December:

Real Estate Waiting List: 305 kr. ($55.50) (annually)

 

January:

Public Service TV License: 1140 kr. ($207.50) (quarterly)

Unemployment Insurance: 1218 kr.  ($221.50) (quarterly)

DN: 247.50 kr. ($45) (annually)

Real Estate Internal Waiting List For My Apartment Complex: 200 kr. ($36.40) (annually)

 

April:

Public Service TV License: 1140 kr. ($207.50) (quarterly)

Unemployment Insurance: 1173 kr.  ($213.50) (quarterly)

 

July:

Public Service TV License: 1140 kr. ($207.50) (quarterly)

Unemployment Insurance: 1173 kr.  ($213.50) (quarterly)

Sunday, November 14, 2010

Spending Habits: How much money I have spent this week (November 8-14, 2010)

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This is a weekly review of my spending habits for the week of Nov.8-14, 2010.

Date Amount
Tuesday Nov. 10 $21
Wednesday Nov. 11 $15.50
Thursday Nov. 12 $8.5
Friday Nov. 13 $35
Saturday Nov. 14 $0
Sunday Nov. 15 $0

TOTAL: $80

As you can see in the post (right below) called Spending Habits: How much money I have spent today, Thursday 11/11/10 I began to keep track of my daily expenses here on the blog to keep myself accountable for my spending. However, I also kept a written record outside the blog, so I found that I was doing “double the work” because I was typing every single item AGAIN. So I decided to keep my daily expense trackings off the blog and just post weekly expense trackings instead.

Another reason for not posting daily expense trackings is because I want to keep the blog posts varied and fun to read – I realized that a daily expense tracking post like the one below would – in large numbers – begin to clutter up the blog with monotonous posts of just spreadsheets and dry numbers. But these are just my feelings right now. They may change someday. Maybe it’s just the way I present them. Perhaps with some cool graphics or design they’d be more fun to look at. Hmmm…I’ll have to give this more thought and keep this one open. But for now, weekly is the way to go.

A few notes about the past week in retrospect: I‘ve been sick since Friday and that explains why I haven’t spent any money this weekend. What a rotten time to get sick, but I guess that’s just the way the cookie crumbles. I spent a large amount on Friday for grocery shopping for the weekend.

That’s all.

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