Mr. Modern Tightwad and I have an apartment! The most stressful part of our move is now behind us. It was also an interesting adventure in budgeting and choices.
Our maximum budget for an apartment in Portland, Oregon was $600/month. As always, our goal was still to spend as little as we possibly could. In a small southeast suburb of Portland, in an area we are familiar with, we found a 500 sf. studio for $500. We could have gone to a different part of the area and spent closer to our limit for a larger studio or one bedroom. Instead, we sat down and examined what we need, what our goals are, and what we were willing to compromise to reach them.
We need a safe place to live with a full size kitchen that would accept large dogs.
Our goals are to be as close to my husband’s family (who live in a suburb of southeast Portland) as possible. We have had to suspend debt repayment and deplete some of our emergency fund for an apartment deposit. We would like to continue our debt repayment, even if it’s only $100 a month.
So what did we compromise? I compromised a bathtub and closet space. We compromised being able to have people stay with us, as an open 500 sf studio isn’t conducive to “stay-over company.” Since Mr. MT isn’t going to be home that much he’s not overly particular. His major concern is always safety, which is not something that we would ever consciously overlook.
Since this studio met our needs, and saving $100 from our budget will allow us to keep meeting our goals, this was an excellent decision with us. We are not just living within our means, but we are doing with as little as we can.
This philosophy has been extended to as many aspects as possible. We’re doing without cable TV, but keeping cable internet. We’re doing laundry at his parent’s house, but keeping the option of last minute loads at the complex. (It’s $1.50 for each wash AND dry. Gee whiz!)
According to many pf gurus, living within your means is a path to wealth, however, I firmly believe that managing with as little as you can is a great step to a simpler, happier life. Regardless, I’ll let you know how it turns out!
