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• The bridesmaid's curse: Ugly gowns and lots of spending

  Posted Feb 09 2008, 01:06 PM by Karen Datko
  Filed under: Spending, Saving, Clothing, McDonald's
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  DogAteMyFinances is trying to pay off her credit card debt and, in fact, has stopped buying clothes as part of her frugality. But now she has to cough up $275 for a hideous "rich chocolate" bridesmaid gown. "Second, I will have to pay for the bachelorette party/bridal shower/kitchen-gadgets shower/home-repair shower/chick-flick shower," she writes, adding, "Weddings are out of control."

  The last time she was a bridesmaid, it cost her $1,250. Other personal-finance bloggers have experienced the same budget drain. Ms. M&P at My Money and Politics last month paid $240 for a bridesmaid dress (plus made a $265 deposit on a hotel room for another wedding she's attending, and spent $468 for plane tickets to go to yet another wedding). Mrs. Micah says that if she were asked to be in a wedding, she'd have to pass because of the cost. "This is crazy, folks. We need a solution," she writes.   Read More...

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• Does cooking at home beat a $1 cheeseburger?

  Posted Oct 05 2007, 03:53 PM by Karen Datko
  Filed under: Saving, Dining, McDonald's
  Rating:
  This post comes from partner blog The Simple Dollar . This is a question I had from a reader (we’ll get to the cheeseburger in a minute): "My question is about budgeting for food. I’ll be starting my first real job soon so I’m setting up a list of monthly expenses. I haven’t yet lived on my own, so I don’t have a good basis for estimating monthly food expenses. Could you shed some light on the matter?" My rule of thumb is this: For one month, save the receipts for every food item that you buy, whether it’s at the grocery store, eating out, or anywhere else. Then add 10 percent to that. That should be your food budget for a month. Why add 10 percent? I find that almost every budget works better with a bit of breathing room in it. Most months, you’re better off coming in under budget so that you can put the excess away for debt repayment or savings. Also, this allows you to easily handle small emergencies within your monthly budget. You already have the slack in place to handle a blown tire   Read More...
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