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I don’t need to tell you that things are tough all over. Banks closing, financial institutions declaring Chapter 11, people losing their homes by the minute, and it’s going to get worse before it gets better. The economists are using the "r" word with trepidation -- shh, we're in a recession -- but you don't need an MBA from Wharton to know that if it walks like a duck and talks like a duck, then a duck it is. With the economy tanking and prices on gas, food, and other goods and services on the rise, many guys are looking for ways to save money. Instead of making drastic changes, Be Better Guys suggests how to be a better guy, on a budget.
I don’t need to tell you that things are tough all over. Banks closing, financial institutions declaring Chapter 11, people losing their homes by the minute, and it’s going to get worse before it gets better. The economists are using the "r" word with trepidation -- shh, we're in a recession -- but you don't need an MBA from Wharton to know that if it walks like a duck and talks like a duck, then a duck it is. With the economy tanking and prices on gas, food, and other goods and services on the rise, many guys are looking for ways to save money. Instead of making drastic changes, Be Better Guys suggests how to be a better guy, on a budget. Right now, you probably have a job making a decent living, with more than a few years to go before retirement. No one’s on a breadline, unemployment’s at a relatively low 6.1%, and the rate of inflation is at 4.9%, according to the Bureau of Labor Statistics for the last month. So for the time being you’re OK, but that’s not helping you sleep at night. You feel like you should do something to shore up your situation, become fiscally responsible, and that’s smart. We’re going to suggest some ways to stretch a dollar without cramping your lifestyle too much.
Be Your Own Gourmet
 Want to save money? Stop paying others to make your lunch every day. Make your own coffee instead of going to the corner barista. It costs roughly $2,500 a year for lunch and coffee (250 works days, see numbers below). This is a conservative estimate, if you live in urban areas. Places like Panera, Au Bon Pain, or Cosi charge a king’s ransom for a turkey sandwich. And don’t get me started with the “food by the pound” places. Damn near go broke if you get anything with a sauce – this comes from personal experience, and I think they add weight to the Styrofoam plates, too. There is no reason to pay someone more than 3x the cost of a sandwich, particularly if your pockets aren’t straight (that is, filled with money). You can have virtually the same turkey sandwich with a bag of chips for $2.21.
Total cost $2.21
You save over $1,200 by making your own lunch. Eating a sandwich every day not appealing? OK, how about a compromise: bring your leftovers from dinner for lunch the next day. Make slightly larger portions, bring some for lunch and freeze the rest. If you don’t cook, now’s great time to learn—check out our Cooking In section for easy and tasty recipes, just for this sort of thing. For the nearly $800 it costs buying out, you can buy coffee from your favorite place and make it at the office whenever you want. Let’s estimate you drink 2-8oz. cups/day for coffee @ $3, if you go to the local café and chat with the cute barista with the pierced nose, who will talk you into a tall cappuccino with a squirt of caramel. At $11 a pound, which is very good coffee, you get 32 cups of coffee per bag, nearly 3 weeks of coffee. Do the math:
- Brewed in office $ .34/cup or $204 a year
- From café 1.50/cup or $750 a year
Savings: $546/year
No, this doesn’t account for cream and sugar, but tack on another $25/year and the cost still doesn’t come close. If your office is like mine, there are several people who need their daily java, so create a coffee club. Save the money and ask the barista out. Now you can afford to go on a date.
Do Your Own Shirts
 If you take shirts to the dry cleaners like so many guys do, myself included, you’re spending over $400 a year on laundering shirts (5 shirts @ $1.25/shirt, once a week x 50 weeks). You could clean and iron your own shirts instead of always having them laundered, but is that the best use of your time? Probably not, but how about this: wash and iron your own shirts one time out of four. Assuming you have at least a week’s worth of shirts, it saves you over $100 a year in dry cleaning costs. That’s enough for a date or a night out with the boys. Go Down-scale on Your Shopping HabitsIn all fairness to the Johnnies-come-bailout, it shouldn’t take a major meltdown of the global economy to recognize the need for frugality in formulating your sartorial manifesto. BBG has been preaching the benefits of discount stores, vintage clothing shops, and extreme sale shopping from the get-go. Why? Because it forces guys to think about what they want and allows them to get more of what they’re funking for by paying less. However, buying a lot of cheap clothes instead of fewer quality items just ensures you’ll be buying more clothes sooner.
Try down-scale retailers like Target, Sears, or JC Penny’s for wardrobe basics like socks and underwear. Brands like Ralph Lauren or Mossimo design lines for these retailers, so you can find good-looking stuff from names you trust at a cheaper price. Use discount stores, like Kohl’s, Ross, etc, to get fashionable pieces at a discount, anywhere from 25% to 75%. The Ben Sherman sweater that hit the stores in August at $90 will still keep you warm if you buy it in February for $45. Take advantage of bulk retailers. Places like Costco, BJ’s, Sam’s Club are now carrying premium denim brands like 7 For All Mankind now, and fashion stalwarts like Tommy Hilfiger. So you can get some of stylish stuff at bulk shopping prices. Also a good place to stock up on basics. Buy on sale. Everything goes on sale at some point. If you know you need a new Fall jacket and have an idea what you want, stalk it at a few department stores or other shops. Get on an email list for the store or stores that notify you. Try vintage or consignment clothing shops. They are great for things like overcoats, suits, and ties. Many take good-looking pieces, usually in good condition: worn, but not ripped, threadbare, stained, or moth eaten. Great place for one-of-a-kind items at well below retail. I have a tweed overcoat from the 60s that I found at a vintage shop years ago for less than $100 that I still wear. Assess if you really need or want it. Need is relative, but be sure you really want it before you plop dough down. A good habit is to leave the item and come back for it another day. If you come back, then you know it wasn't just an impulse buy. Buy quality. Paying for better quality things, particularly suits, shoes, and regularly worn garmets, means you don't have to replace them as often, which saves money in the long run.
Try Recession-Proof Dating
Let’s face it, dating’s not cheap. People conflate having a good time to spending a bunch of money, which isn’t always the case. However, we’re not suggesting you take your date around on public transportation instead of taking a cab or only hitting the early bird special at the local food emporium — that’s extreme and looks really bad. But here are some suggestions that can take away some of the pinch and still be fun. - Do lunch instead of dinner. Lunch is almost half the price of dinner and it’s nice to see someone in the light of day. Plus, it can build anticipation for the night to come.
- Take advantage of museums and seasonal events. Most cities have a plethora of free or cheap events going on. Concerts in the park or at museums; open houses at galleries for new shows. Check online or in the local papers for events in town and plan accordingly.
- There’s always a movie. Not exactly cheap, but entertaining.
- Take advantage of cheap and exotic eats in town. One of the benefits of the urbanization of America is that even small towns have a variety of ethnic cuisines. In DC, for example, a list of cheap eats comes out annually and the places that make it can’t keep seats open. They’re cheaper and quite honestly, tastier than Friday’s or some other chain restaurant. Plus, you look like a worldly guy.
- Take a day trip (hiking, beaches, national parks). Yes, gas is expensive, but you can drive a park and have a picnic, a hike, explore, hey, even stay the night at someplace affordable. It’s a lot cheaper than paying $400 for bottle service at an exclusive club.
- Cook for her at home. Finally, we believe in cooking for your woman – women think it’s sexy that you even tried. Then, hit a spot for dancing, drinks, whatever. Or, just stay in. We can help you with the Cooking In part.
All these suggestions aim to let you continue living your life, doing your thing, and looking good in the process. Nothing is going to replace setting a budget and sticking to it, foregoing some of the extras or doing without the frills. That's for you and bank account to decide. But you can make better choices on where and how you spend your money.
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