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Accidentally Frugal

When I think of my apartment, a number of things come to mind: gulag, cinderblock castle, bat cave, and my favorite, rectangular ode to communistic utilitarianism. Yes, my home is something special. One of the perks is insulation that never seems sufficient for either hot or cold extremes. In the winter, the bare linoleum floors chill bones — forcing occupants to wear sandals or shoes indoors. The summer brings a respite from the cold, and makes my apartment heat up like a sweat lodge — only, without the nice cedar wood smell.

The summer months bring some wacky weather through the Midwest. This being my third summer in the land of flat, I know that I’m in for hot, sticky days that border on 100 degrees — even overnight. Torrential rainfalls will produce floods and muddied areas, while you get baked throughout the other days. Pretty good if you’re a 4-year-old making mud pies; beyond that, not really quite sure who enjoys it.

I’ve lived in a few areas of the country that don’t really need air conditioning. People may have them attached to the home or in a window, but for the most part, these white boxes stand as decoration to a humble abode. But here in Iowa, air conditioning is a must have.

In August, I’m moving into an apartment complex that is supposed to have built-in, central air conditioning. To prepare for this, I decided to list my air conditioner on Craigslist two days ago. I hastily placed it online — without a picture or many details. It can take a little while to sell things in my city. There aren’t many people here; especially, over the summer.

I fully expected it to take a month to actually sell the unit. I was dead wrong.

Well, Frugaling fans, I’m in for one hellish summer. I just got back from selling my window air conditioning unit in one day. The family I sold it to were incredibly appreciative and kind — even paid me to drive to their place. The man who lifted the AC out from my trunk said, “Boy are we happy to have this right now. It’s only going to get worse and worse this summer.” All I could do was politely smile and nod. Inside, my stomach churned with the anticipatory anxiety of an entire season without it.

Naively, I didn’t think I’d spend an entire summer without air conditioning, but in a way this is all accidentally frugal. Letting go of the air conditioner this early in the summer season feels like trouble, but there are some tremendous benefits.

Reduced utility bill. The summer months can wreak havoc with my careful budget. Oftentimes, the budget is precariously balanced and if there are extended periods of heat, I can see my bill skyrocket. Most of those costs are associated with increased air conditioning use. Without this appliance, I’ll be struggling, but saving every minute that it’s not running.
A family in need is helped. AC units can be expensive and a family (with a pregnant mother) will enjoy the benefits of a cooler house. I’m really happy they were able to use this and save a pretty penny from buying new.
My wallet is padded. I didn’t just do it for purely altruistic reasons, though. I’ll be able to pay off another chunk of debt with this extra cash. Even more than paying off another portion of student loans is the psychological benefit of knowing I’m moving in the right direction — saving and earning. This has been my major goal since starting Frugaling.
Saving the environment. Air conditioners are a drain on energy resources, tax aging infrastructures, and push coal-fired power plants to go into overdrive. Removing the AC will reduce the amount of greenhouse gases I contribute. One of the most frugal things I can recommend is opening windows at night, and then closing them immediately in the morning. Also, put down your blinds. This small step will effectively insulate you from changing temperatures outside. Your apartment will be a nice ice box in comparison to the outside temperature.

Minimalism: Nothing In My Pockets

By Frugaling 9 Comments

I quite fondly remember the days when I didn’t carry anything but a house key (on occasion). As a child, I didn’t have savings, cash to carry, pens, credit cards, IDs, etc. The world was no more dangerous than today, and my pockets were empty. I remember childhood adventures in the suburbs of Pittsburgh, finding trails and paths less wandered. Friends would tag along and we’d discover and explore, all without a single thing in our pockets. As I age, I can’t help but wonder why my pockets have grown heavier with stuff.

Nowadays, I feel like I’m unfurling and unloading a mass of “necessities.” My brain tells me that all of these things I carry will come in handy throughout the day. Like a good boy scout, always “be prepared.” I regularly carry headphones, a cell phone, multiple cards and ID’s, chapstick, keys, pens, and notes. My pockets are frequently burgeoning with stuff — strange shapes created.

I know I’m not the only one. My grandmother always said, “You should carry a little cash, just in case something happens.” Even in elementary school, she imparted this standard of living. She’d suggest, “What if you need a taxi because you got lost? Or, what if you needed food and hadn’t eaten?” Cash was an out — just in case an emergency occurred.

My professors will reach into their pockets to grab larger key chains, wallets, and cash sums. The jingle is louder and they seem to have amassed more. My peers carry their clutches, purses, wallets, and bags, too. Men and women of the working world carry their packs, bags, and briefcases for a long day’s work. I’m struck by how little we had to carry as children. We could instantly step out of the house; being “prepared” was a mental state, not physical.

Frequently, I fancy the minimalist life, and try to carry less, but I can’t help but notice a discrepancy. Here I am trying to become more frugal and minimalist, but I’m carrying more than ever before. Where does need become want? What do I really need with me every day? Should I follow my grandmother’s words and carry money everywhere I go, as if I’m waiting to be attacked?! Why could I get away with nothing more than a house key as a child?

It’s easy to justify the mass grab: I have more responsibilities as an adult. The decider and chief within me argues for the stuff. It says, “You’ll need your credit card in case you get hungry, need to pay for something randomly, or anything strange happens.” Even if I take the free bus into school, I’m invariably carrying my driver’s licence, school ID, and more. Will I need to hand over my ID? Probably not. What is it about becoming an adult that becomes the justification for my outsize growth in pocket dimensions?

There’s only one conclusion in my mind: We grasp for these crutches as adults, as the fear of death seems to grow. The world is no less safe, and yet I hold onto these safety measures (especially my phone). If I leave the house without this stuff, I feel more than naked — heck, I’d rather be naked!

But every now and then, there’s an intense pleasure, joy in leaving the house with nothing but a house key (sometimes without that, even). All the “adult” responsibilities that I carry seem to be left behind — just me and the world. It’s then that I realize how splendidly simple life can be, and that those childhood adventures are always waiting. After all, feeling prepared is an internal state, not a physical one.

Should You Buy Renter’s Insurance?

By Frugaling 7 Comments

Walk into my apartment, and you’ll notice something: There’s hardly anything in it. It’s sparse, austere, and minimalistic; most of all, purposeful. A table, chairs, my bed – not many extras.

I’ve rented for years now, and I’m not sure I ever want to purchase a house. In a previously written article for PTMoney.com, I cataloged the many reasons why I hesitate to buy. Home insurance may never be applicable to me, but what about renter’s insurance?

Multi-Line Discounts

Every time I call Geico to ask for discounts or check my car insurance premiums, a representative suggests a particular “discount” for also having renter’s insurance. Invariably, I ask what that costs. Would having a multi-line discount make my overall bill cheaper? No.

Unfortunately, this multi-line “discount” is simply a marketing ploy to attract non-critical consumers. Do yourself a favor and ignore these enticements.

Fear Factor

…what if your apartment gets burglarized? Or, worse yet, suffers smoke damage in a fire? Some renters may think that everything they have inside their apartments is insured under the landlord’s policy, but that only covers the building itself. (Source)

Renter’s insurance is often motivated by fear of the unknown. A fire, flood, burglar, or any other risk may enter your apartment and destroy what’s rightfully yours. This destruction is not covered by landlords.

If you have a wealth of materials in your house, renter’s insurance may be for you. It’s a hedge against negative events. The insurance company lets you pay a small fraction of the total worth on the actuarial assumption that you won’t need the money.

Minimalism

There’s a way to avoid renter’s insurance, feel safe, and live a comfortable life. The secret is minimalism. This term represents a movement towards the essential; basically, eschewing all that’s superfluous for what really matters.

Minimalism can be a powerful tool to feeling free from worry. If there’s nothing to burn or steal, why do you need renter’s insurance? When I go on vacation or leave my home, I’m comforted by my bare apartment. What could anybody want? What’s the worst that could happen?

Yes, my table, chairs, pictures, and electronics could morph into charcoal and dust if a fire occurred. But I place no value in these inexpensive things that are easily replaceable. They’re not worth a monthly hedge that drains my budget even further.

And if you choose to plaster the walls with pictures of loved ones and heirlooms, there’s a priceless nature to these things. Geico doesn’t care about priceless – nor could they actually replace them.

What Should You Do?

When it comes time to consider renter’s insurance, take a critical eye to this apparent money saver. Potentially, it may drain your budget, while making you feel safe.

The decision is yours.

Just know that safety doesn’t always need to be purchased. Sometimes, it takes a philosophical change, instead. That’s where minimalism can help.

Accidentally Frugal

Minimalism: Nothing In My Pockets