Living Cheap in Chicago Recap
Posted by Christine Talley at 7/25/2009 2:50 PM 
Categories: All Things Food, Communications, Personal Finance, Real Estate, Entertainment, Transportation, Beauty
Categories: All Things Food, Communications, Personal Finance, Real Estate, Entertainment, Transportation, Beauty
Chicago: cheap! has officially passed its first anniversary. Let's review seven of the areas we've learned about this year that can save you the most:
Seek out cheap rent. Living with a roommate or roommates gets you the most savings, but downgrading your location and/or your space also saves big. After freelancing on the road for 2 years, living in hotel rooms, I had inadvertently trained to live in a studio, so that's what I got when I moved back to Chicago. My rent is high for a studio, since I wanted a nice apartment, building amenities, and location; but it's still cheaper than a one-bedroom.
Ditch your car and travel on the CTA.
Grocery shop at a chain store. Aldi's is cheapest. If there's not one near you, shop at your local Dominick's or Jewel with your club card.
Find the best deals on cellphone, landline, and internet.
Netflix, not cable. At $17 per month, Netflix saves me at least $13/mo over the cheapest cable I could find. That's AT&T's cable, and who knows how much more it saves me in taxes and fees? I get 3 DVDs at a time through the mail, and unlimited streaming, and they have a TON of titles available online! Netflix absolutely works as a cable alternative.
Careful with the beauty products and services! Do your manicures and pedicures yourself, or find the cheapest salon. Get cheap haircuts with my stylist on Fullerton. Buy products on sale at Ulta, and get their free club card for points and coupons. Don't forget your eyebrows!
Make your money work for you. I just combined my checking & savings account by opening Kasasa Checking at County Bank, and am earning 4.65% right now! This replaces my ING Direct account (1.55%) and my iGoBanking.com account (1.71%). I'm also about to switch my reward credit card from American Express Blue Cash ($194 cash back in '09 & $188 (est) in '09) to Charles Schwab 2% Cash Back credit card, and expect to make around $260 per year. For retirement planning, get the cheapest IRA. That's the retirement plan that gets you a company match, or, if your company doesn't match, a ROTH.
Following just these tips saves me, personally, $555 in per month in tangible dollars, and a lot in future tax savings as well.
Seek out cheap rent. Living with a roommate or roommates gets you the most savings, but downgrading your location and/or your space also saves big. After freelancing on the road for 2 years, living in hotel rooms, I had inadvertently trained to live in a studio, so that's what I got when I moved back to Chicago. My rent is high for a studio, since I wanted a nice apartment, building amenities, and location; but it's still cheaper than a one-bedroom.
Ditch your car and travel on the CTA.
Grocery shop at a chain store. Aldi's is cheapest. If there's not one near you, shop at your local Dominick's or Jewel with your club card.
Find the best deals on cellphone, landline, and internet.
Netflix, not cable. At $17 per month, Netflix saves me at least $13/mo over the cheapest cable I could find. That's AT&T's cable, and who knows how much more it saves me in taxes and fees? I get 3 DVDs at a time through the mail, and unlimited streaming, and they have a TON of titles available online! Netflix absolutely works as a cable alternative.
Careful with the beauty products and services! Do your manicures and pedicures yourself, or find the cheapest salon. Get cheap haircuts with my stylist on Fullerton. Buy products on sale at Ulta, and get their free club card for points and coupons. Don't forget your eyebrows!
Make your money work for you. I just combined my checking & savings account by opening Kasasa Checking at County Bank, and am earning 4.65% right now! This replaces my ING Direct account (1.55%) and my iGoBanking.com account (1.71%). I'm also about to switch my reward credit card from American Express Blue Cash ($194 cash back in '09 & $188 (est) in '09) to Charles Schwab 2% Cash Back credit card, and expect to make around $260 per year. For retirement planning, get the cheapest IRA. That's the retirement plan that gets you a company match, or, if your company doesn't match, a ROTH.
Following just these tips saves me, personally, $555 in per month in tangible dollars, and a lot in future tax savings as well.
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