Financially Offsetting The Past

I was thinking over my life (before minimalism and of course addiction to cigarettes, etc.) I have wasted a lot of money. How could I make up for this loss by dropping averages and playing a little catch up?

Off to Google I went to compare statistics from several websites.

First, I looked at transportation, because I have no car now and so far, I rarely take a bus (which is a hell of a lot cheaper than getting gasoline, not to mention car insurance) I must be saving money in that department.

It is stated that on average, families spend $754 per month on transportation. This includes car payments, gas, and car maintenance. A family in this case appears to be a family of 4. So, that breaks down to 188.50 per month per person. Thinking on my gas usage before, cost of car insurance per month and repairs, this figure sits about right for me. Maybe it is slightly lower, but over all it is correct.

That would mean so far for May, June and now July I have not spent $565.50 that I would have (on average anyway because of course repairs are not monthly).

What about food? They had numbers for families, couples and single people. I am single and it states, on average, it costs one person on a moderate budget $244 per month to eat. So, about $8.02 a day. This is where I can save money if I get really good at it. If some days I can spend $2.00 for example (rice and beans etc.) I can offset past misbehaving with money over time, till I am right back to where I am suppose to be.

I think soon I will get a notebook out, or just do it online, to keep track of my daily cost of food intake. This way I can keep track of my “savings” and offset some of the past.

On a side note and this only half applies to me, but it is stated that according to the Federal Reserve Bureau, Americans spend an average $1,088 per month on housing payments. This takes into account the average $758 mortgage payment along with homeowner’s insurance and real estate taxes.

What that doesn’t take into account is cost of full cable, wi-fi and all utilities (and my free motel soap and toilet paper). So, for that average I am sitting pretty good overall. Granted, at the end of payments these people own a home. I will not. However, when I looked up apartments in my area I found this.

As of June 2018, average rent for an apartment in Albany, NY is $1100 which is a 5.09% decrease from last year when the average rent was $1156 , and a 0.55% decrease from last month when the average rent was $1106.

One bedroom apartments in Albany rent for $1056 a month on average (a 3.41% increase from last year) and two bedroom apartment rents average $1193 (a 8.3% decrease from last year).

So, that is just the average rent, so in that case I am doing well, though I have more of a studio than a one bedroom (since a motel room is pretty much a studio) only I have everything included in that price.

Overall I have discovered I am “saving” a decent amount of money on not having a car, I am about average on housing and I can play around with the food to “save” more money on some days.