Job Discussion Forums

dixie · Joined: 23 Apr 2006 Posts: 644 Location: D.F

I have a good job but I do not make good money. Sadly though, the amount I make is normal and I am not likely going to be increasing my take-home any time soon. I desperately want to save money yet it seems like the more I try, the less I have each month!! Shocked

Anyone out there have any suggestions or tips?

Guy Courchesne · Joined: 10 Mar 2003 Posts: 9650 Location: Mexico City

Gotta learn to be frugal if you want to save, but without an increase in income. Changing little habits goes a long way. Use a bus instead of a taxi, or eating out less.

One could also open an investment account, such as with Lloyd's. Low, mid, and high risk funds can be opened for as little as 10,000 pesos. Making it habit to throw 1,000 pesos a month into it gives you some cushion.

http://www.lloyd.com.mx/en/

TheLongWayHome · Joined: 07 Jun 2006 Posts: 1016 Location: San Luis Piojosi

Here are a few tips:

Steal toilet paper from your school.
Eat flautas more than once a week.
Always make chilaquiles from left-over tortillas whether you have a hangover or not.
Get rid of your cable/internet connection.
Keep all those coins less than 50 centavos.
Make enough cheap food so that you always have left-overs.
Drink the tap water.
Don't buy medication if you're sick. (If you really must buy it go to Doctor Simi)

MELEE · Posted: Mon Nov 05, 2007 6:36 pm Post subject:

Move to a small town where there is virtually nothing to spend you money on!

leslie · Joined: 08 Feb 2003 Posts: 235

MO39 · Posted: Mon Nov 05, 2007 7:42 pm Post subject:

Dixie, living in Mexico City as you do, I find I go over my weekly budget (always theoretical at best) when I eat out, and it's not comida corrida time - breakfast, a late-afternoon cappuccino, an evening snack and dessert (any time!).

dixie · Joined: 23 Apr 2006 Posts: 644 Location: D.F

Anyone here invested money (in something more substantial than a regular bank savings account)?

I really don�t understand how families survive. I mean, Mexican teachers often make less than their foreign counterpart, yet they have the kids, the house, the car and whatever else. I only have two dogs! Do they go into debt that bad to sustain such an existance?

Guy Courchesne · Joined: 10 Mar 2003 Posts: 9650 Location: Mexico City

thelmadatter · Posted: Mon Nov 05, 2007 8:14 pm Post subject: damn canucks!

yeah... ive been spending a lot of money on the weekends too... (Blame Canada! ji ji ji ji ) but fortunately not so much that it has really hurt my finances too much. Plus Ive been happier this year than I have for a very long time.

My big problem coming back to reality on Mondays.... I think this "old lady" has her partying limits as well.

That being said, Im hoping not to spend too too much in Veracruz (MexTESOL conference) this weekend!

dixie · Joined: 23 Apr 2006 Posts: 644 Location: D.F

FreddyM · Joined: 05 Jan 2006 Posts: 180 Location: Mexico

Guy Courchesne · Joined: 10 Mar 2003 Posts: 9650 Location: Mexico City

It takes a long time for a single foreigner to establish themselves in Mexico...or any foreign country, if you're planning to stay, buy a home, start a different life.. If you're not coming in as a retired person with a pension, then you've got all sorts of costs above and beyond what locals have.

I'm afraid it's part of the immigrant or traveling teacher's life. Only frugality will help you save more, or a better job and/or upgrading your skills along the way.

I've been finding it harder to save lately, but my personal costs shot up after separating from my wife. It's hard to find equilibrium after an upheaval, but poco a poco, alli vamos.

MELEE · Posted: Mon Nov 05, 2007 9:45 pm Post subject:

Speaking of rent,

I had enough credit with INFONAVIT to buy a house for about two years before I realized it. You may have enough points after about 5 years depending on your age and if you've changed jobs (they give you more points for not jumping from job to job) Just go to their webpage and put in your IMSS afficiation number and it will tell you how many points you have, then you choose a city and see if you have enough points to buy in that city.

Another hidden money saver, eat a home, but eat vegitarian, it's a heck of a lot cheaper than buying meat![/url]

corporatehuman · Joined: 09 Jan 2006 Posts: 198 Location: Mexico City

Money is depressing isn't it?

I can relate. I currently have no money at all but am making things work. What helps is that I never go out. I go to the grocery store and buy as many groceries as I can hold and then haul them back on a collectivo. I don't use taxis almost ever and I walk everywhere.

I also never buy things like soda or snacks. I also am sure I will save no money at all here. What helps me most of all is having a combined income. So even though I do not make enough, and my girlfriend does not make enough, together we make sort of enough.

If it comes down to it you might have to kill your dogs. That should save you around a 500 pesos a month, 6000 a year. Over the lifetime of the dog, maybe 50,000 or more pesos; who knows. Anyway you have to make sacrifices. That's how you save money...

And making sacrifices sucks. But they are good in the end.

Chris

Phil_K · Joined: 25 Jan 2007 Posts: 2041 Location: A World of my Own