The Budget Gudget: Day 1
- Monday May 10,2010 01:52 PM
- By Iris
- In China, how to do stuff, shanghai, things that are fabulous, word power
AKA: Can I live my Shanghai life on RMB 32 (USD 4.70) a day?
We’ll see. And here are more answers to questions you aren’t even thinking of asking.
What’s a “gudget”? A word that rhymes with “budget”. Obviously.
Why RMB 32 (USD 4.70)? Two reasons:
- Because that will keep my monthly spend under RMB 1000 (USD 146).
- Because I tried RMB 25 (USD 3.60) a day once and I really, really struggled (jacked it in on Day 3). I also did RMB 50 (USD 7.30) a day the year before last and it was far too easy.
I like to set myself these challenges because, since becoming a freelancer and having to deliver my very best for every single penny I earn, I am evangelically evangelical about VFM (value for money). This is not to say that I always go cheap, but I do expect there to be a very direct correlation between the kerching! I spend and the satisfaction I derive from it. (Which is code for: When we are talking shoes, all bets are off.)
The Rules:
- This RMB 32 (USD 4.70)-a-day spend does not apply to weekly grocery shopping or any necessary recurring expenses e.g. rent / bills etc. I am not doing a penance so I will still eat full meals and do what it takes to make sure our lights aren’t turned off. I’m simply cutting back on the untrackable amounts I spend on things like cabs, lunch, post-work drinks etc. to see what’s possible if I take a more disciplined approach to me spending.
- The challenge doesn’t apply to my health. I will not try to find a doctor to treat me for 20RMB if I have already blown 13RMB on the day I get sick.
- To make it a little harder I have to keep on living my Shanghai life, as I know it i.e. go out at least two or three times a week.
- If I come in under budget one day, I can carry the surplus over to the next day. I cannot, however, go over-budget one day and the try to make up the difference on subsequent days.
Strategy Part I: Find a LOT of two for one deals, latch onto a friend and hold on for dear life.
Strategy Part II: Hope that said friend is not a reader of this blog.
The Point:
- I have just come back from a 4-week spend-a-thon vacation
- I’m paying 4 months of rent to activate my new lease on Friday so May is definitely be-smart-with-your-money month (I have one each year).
Start Date: Monday 10 May
End Date: When I get bored When I get paid When I spot a bottle of wine with my name on it June 9
So, here we are…Day 1.
The story so far…
- Breakfast – didn’t fancy oatmeal at home, just had free office coffee
- Bus(es) to work – 3RMB
- Lunch – 4 包子 (steamed buns) @ 1.2RMB. That’s right, lunch for under 5RMB!
- Bus(es) from work – 3RMB
- Dinner – 8RMB (from vendors on the street – not off the street surface itself – in case that wasn’t clear)
Daily Spend: 19RMB
Surplus: 12RMB
Is this going to be be ridiculously easy?
To be continued…










