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  1. #1
    Ground Level Lurker
    Join Date
    Feb 2010

    Default Newbie, Living the dream on a budget!

    Hi everyone,

    I'm living the dream, I really am. I don't have 10 fancy cars, I don't have a mountain home (but hope to, one day!), and I don't have my own cook and maid (again, one day...!). But, I am living on a budget, I have a firm grasp on my finances, and because of that, I feel free. I don't worry about whether I'll have enough money to pay the phone bills because I have already budgeted for that. Same goes for electricity, mortgage, etc. And I've got "fun funds" (in addition to my emergency savings, which equals roughly 6 months' worth of expenses) that I add a little to each month, so I still have the ability to splurge sometimes

    Five months ago, my husband and I decided to move to China for a year. We both use credit to our advantage in the States, and rarely carry cash. But China is a cash-based country; only large merchants/restaurants will accept credit cards. So now, we're learning how to manage our finances using a cash only system! I have to admit, for us, it's definitely very different than we're used to! We used our credit card statement as a way to know how we spent our money. But with cash, we now have to remember how every single penny (or, in our case, miao or jiao) is spent.

    Life is interesting here in China, and I look forward to sharing my experiences here with you on budget101!

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