Welp, we have some plumbing work coming our way, estimated cost $16k (yay, homeownership). We currently have $23k in cash and opted for a financing option - $15k, interest-free for 18 months. Planning to make a big initial payment (maybe $5k? Haven’t decided yet) and then pay it down monthly - so that’s anything from $500-800/month for the next year and a half to pull together. 
With any luck, after it’s paid off we’ll be able to maintain that level of savings for a while!
I know for myself and my own situation, I’ve definitely had times where I will overspend if I know I have the money to do so, and going back to a scarcity mindset helps me to reframe my actual spending values.
Sure! So like with most things I don’t really use a recipe but arancini are deceptively easy.
Lmk if questions!
Maybe it’s like scarcity due to barely being able to meet basic needs(ie someone living at the poverty line) vs scarcity because you’re saving for something really expensive? Like there’s living paycheck to paycheck due to low income scarcity. Then there’s a “tight budget” due to saving for a home, vacation, second home, private school, etc. I think the latter are the types who may earnestly describe themselves as having to budget a lot and things being really tight while making like $100k a year or whatever. Just guessing tho not trying to answer for other ppl.
Without speaking for @darlingpants, I interpret this as putting yourself in a mental state where your saving goal is set in stone and for the purposes of discretionary spending, the money just Doesn’t Exist. So when a purchase decision comes up, you think about it as just “I can’t afford this” instead of “this would eat into Big Goal”. That can definitely be motivating, though it has risks (rebound binging).
I definitely respond to actual scarcity but I don’t think I can sustain artificial scarcity longer than a month or two, which is why my journey is more about dealing with underlying emotions and hopefully finding and embracing a sense of “enough” ie an abundance mindset I guess.
Artificial scarcity is why I opted to have a car payment when we got our second car rather than paying cash and dropping our reserves. (It was a good rate too) It makes me feel like any given month I’m spending a lot more than otherwise, and does add a sense of “less money to be flippant about”. Basically just a mental game I play with myself in Mint really. 
Homeownership can suck sometimes. I don’t mind spending money on fun things that I want, but who wants to spend 16k on plumbing?
That makes sense. I guess for me it’s like, “Okay, I made this budget so I could save for this other thing is important to me. Is that thing still important to me? Is it more important to get $200 worth of skincare products?” If I decide “Yeah, I’ll wait the extra time to get to that goal because I want these face products” then I spend it. But if I think, “Oh right, that is right, my brain is not really geared for long term so I made this reminder for myself, neat, I will not buy these skin care products” then the budget worked and it’s less scarcity and more conscious spending?
Cool to hear others perspectives tho!
Thank you! I appreciate both the instructions and the pun 
I knew you would. 
I’ve been thinking about this all afternoon and I think it’s because my goals don’t feel real to me right now, so it’s not like “here’s a set amount of money and I have to split it between these long and short term things,” it’s like “well I’m supposed to set aside more cash because lol who knows?!?!?” And so for me that second “goal” doesn’t feel like a real priority that I need to dedicate resources to, it feels extra, so anything I put in is “artificial.”
Thanks for asking the question, I’ve been thinking about it all afternoon and I think I did just discover something new about my mindset!
Awww I’m glad it was helpful and not just annoying. It was helpful for me to hear other people’s responses and see it from other POVs too!!
When I first read your comment about the utility of YNAB and it’s audience being paycheck to paycheck I was nodding and thought “ah yes dp is full of rightness,” but then thought about how I had been when I was in FIRE-saving mode and how useful it was for me to feel like I was making smaller progress every month toward a big goal by hitting that budget number (because the FI goal was so big). So the scarcity comment was a surprise because it was abundance that was actually driving my goal!!
Anyway now I’m just rambling, thanks for being cool talking about money, it brings up a lot of feelings.
So I joined the condo board and the first thing I learned is that I can insure for $10/year against special assessments up to 20k. I did that the next day after finding out. My budget is working out well and I know definitely what I can afford without spending my savings.
I really enjoyed the discussion on savings approaches. For August, I’ve budgeted my savings for the month first (“paid myself first”) as well as standard expenses, and know how much I have to spend on anything unplanned. Quite excited to see how this feels, whether it’s good or restrictive.
Money win! I used public transit for the first time since the pandemic and it was sooooo nice.
I’m happy to have this service again because of the increased independence (I don’t drive) and the huge savings. It costs like $40 one way to go where I need to go in a lyft, and it’s $2 on the train. This should eliminate the need for me to take cars except in a few circumstances, like late at night. Husband will still pick me up from PT, since I usually throw up quite a bit after, but I can at least take the train one way there so he doesn’t have to take off work every time. I’m so happy!
I spent $28.50 for my metro card, and put it on auto so once my account hits $10 it will auto load $20. I have to say, Philadelphia is a weird ass place because some stuff is like super behind other cities (like no trash cans in parks) but other stuff is way better. The digital stuff is fantastic here. You can pay for parking via app and the app is really good, and the public transit apps are outstanding. It is so easy to plan trips and then get info on the next available service. The method for loading money on cards, etc. is far better than any other city I’ve lived in.
The only thing I have to get used to is scheduling my trips more. Trains aren’t as frequent here, which makes sense because it’s a lot smaller. Basically I got spoiled in nyc and used to showing up at the subway and having a train arrive within 5-10 minutes. Here I have to plan more because it’ll be like, “next train is in 40 minutes but the one after that is in 1 hour 50 minutes”. Luckily, the city is so tiny it’s pretty quick to get to the train. I just have to make planning part of my routine and it hasn’t been before.
My initial response to realizing I have to plan more was “ugh” but then I sort of mentally said “come on! get with it, lady!”. It’s really no different than planning what I’m going to eat, so I can save money on groceries, or planning what I’ll need to buy over the next year, so I can shop sales. It’s just a habit I have to get into and once I do it’ll be like nothing!
That’s fantastic that you have this option! That seems like a great deal as far as preventing obscene assessment increases, I would have totally paid that when we had our condo. What a relief that would have been - we DID get hit with a $20k-ish assessment right as we were trying to decide whether to short-sale it.
Though I wonder how the work gets paid for, if everyone opts for that $10 payment? Do everyone else’s shares just go up then?
ETA: or, is it only board members who can do it?
At least where I am it’s just an optional add on to your condo insurance that anyone can get (they regularly recommend it to all members at our annual meetings since we’re in an area that gets a lot of hail).
Kenner, yes it works the same way here and everyone has been told annually that lives here that it’s a option.
$155 eating out in July
When I first saw the overall restaurant spend for the month I was slightly concerned, but looking at the breakdown I feel pleased with the spending for meals with friends and friendly former colleagues. The two meals with the shadowy one were fine, but overall I probably would have been happier spending that money on some nice ingredients and making my own things. Overall I think a weekly sociable meal out would be good on many levels (and having people over when it makes sense for convenient travel & comfort levels).
I think I’ve mentioned elsewhere that I don’t have the same amount of automated withdrawals coming out after each pay as I used to (complicated background around taxes reducing how much I can easily invest). Instead, I’m moving cash over to a high interest account once I feel like I know how much can be spared for the month. I don’t like this approach as much because I’ve lost my artificial scarcity and sense of money going cleanly into all the slots, but I haven’t changed it for a reason that I don’t yet understand.
I waited for the credit card turn over, but it has been a few weeks and I still have to get a new pair of sneakers. Maybe tomorrow or Thursday.
I use the budget as an excuse for why we don’t eat out, why we don’t have a car, why we don’t pay for a cleaner, etc. I create an atmosphere of artificial scarcity because our big goals have always been so far out, and need so much money, it’s easy to say, “this thing is worth me working 2 extra weeks 8 years from now.”
I’m generally pretty willing to screw over my future self for something my current self wants. So I need to put up fake guardrails, even though I know they’re fake, it’s a more official contract with my future self. I really wish I was as good at doing it for exercise, but my PT always seems more put-offable even though it is actually less.