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Yes! We haven’t stayed in a hotel or eaten restaurant food since March, which for us = big savings.
Same here! I only eat restaurant food when travelling. Usually do 4 international leisure trips per year. So saved all that money since COVID slammed the door shut. Have no need for additional clothing and it's not my job to keep retail in business.
Absolutely. We spend much less on vacations, clothes/dry cleaning, going out to eat, commute (gas/tolls/car maintenance), kids sports activities, gym membership and haircuts.
We are spending more on heating/AC, home internet (faster connection) and electronic devices but these haven't outweighed our savings.
Yes! My credit card bill has not been this low in 30 years. Went three months without putting gas in the car. No live performances to spend money on. Not using the toll roads. Eating out is a rare treat.
My monthly spend has increased over the past few months. Groceries have been steadily increasing and as I generally cook at home it has increased spending.
Savings have remained steady for me. I always maintain "X" amount of cash until it is moved into the investment/trading accounts.
Seems to me the question is how much you have reduced spending which resulted in increased savings.
My monthly spend has increased over the past few months. Groceries have been steadily increasing and as I generally cook at home it has increased spending.
Savings have remained steady for me. I always maintain "X" amount of cash until it is moved into the investment/trading accounts.
Seems to me the question is how much you have reduced spending which resulted in increased savings.
In my case, that is part of the picture, and I think that's what most of us are thinking of.
But my earnings have also gone up. I've been offered practically unlimited overtime, and since I have no social life, my former volunteer obligations are all on hold, and so much of the other stuff I used to want my free time for, just isn't there...and I'm not commuting anymore, since I'm working from home? Yeah, you bet I've been taking advantage of that.
Oh, and I'm confused about why your spending would go up overall because of groceries, unless you ate for free where you work, before?
My grocery bill has not gone up. But I eat about like I always did, though my workplace did provide free food now and then, it wasn't significant. I ate out occasionally before, I order food delivered occasionally now. I cook and I eat leftovers like I always did, I just don't have to bag 'em up and take them to work with me now.
Yes as I am spending less so I have more left over at the end of the month. When I do, I stick it in an existing Vanguard Wellington account of which I do draw a monthly check from. Been very happy with my investments which are all Mutual Funds. At 78, other than mandatory MRD's I have yet to draw from my IRA's.
That said, I would rather be back to my pre-Covid life and spending like I did.......LOL
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