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People have to eat, and in almost all cases that takes money. Balancing nutritional and financial needs can pose a serious problem, especially when you're just starting out on your own.
The Frugal $ense contest winner for the month of June, Sean Bixler, advises young people to budget and pay attention to sales. He should know, it's how he's feeding himself in the expensive city of New York.
Bankrate: When you think of young guys, coupons and grocery shopping don't spring to mind. But obviously it should since you're doing so well with it. How did you start doing this?
Sean: Well, I have gotten
into budgeting in the last six months because I moved into my own
place and I had more expenses, so I started watching my spending
very carefully. One thing I noticed was that food spending was the
biggest thing on my list.
I try not to eat out either, but what I found was that making a list is important and sticking to it is more important. You can save a good amount of money if you look at the deals and coupons and try and plan around that sometimes.
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| May's Frugal $ense winner: Sean Bixler |
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Sean Bixler of New
York, N.Y., won $100 for submitting the following
tip:
Time well spent on
lists and fliers
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Bankrate: Do you consider yourself frugal in general?
Sean: I didn't used to be but when I moved, I really had to become more frugal.
Bankrate: What's usually in your shopping cart? What do you like to cook?
Sean: Just the basic things, chicken and cheeseburgers -- really basic things. I generally go with things that are easy to make and affordable. You can do a lot of different things with chicken. And a lot of what I get is healthy, salads and fruit shakes. The more complex things you try to make get very expensive.
Bankrate: Do you have any advice for someone else who's starting out?
Sean: Coming up with a monthly budget is the most important thing. You really have to know where your money is going to make any corrections.
Bankrate: Did your parents teach you about budgeting or did you have to learn that on your own?
Sean: No, my parents were horrible at budgeting. I think if anything I learned from them what not to do. I think my advice to anyone starting out is to learn to live within your means and then you can start thinking about saving for the future.
Bankrate: What are your plans for the $100?
Sean: Buy some food! No,
probably just ... yeah, buy some food and go out drinking.
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