(istockphoto)
There’s no prescriptive right or wrong way to spend money, although somebody smart once said “don’t spend it all in one place.” While big purchases like a house or car seem important, everyday decisions like mass transit vs. rideshare or eat out vs. eat leftovers are the ones that actually teach you how to spend (or save!) strategically when that next paycheck arrives.
That said, in a survey recently conducted by our friends at Capital One Bank, the numbers revealed that 28% of Washingtonians admit they have a little to no financial knowledge. Hmmm.
Sometimes it’s tough to talk about money, but DCist wanted to know more about finances on the ground-level: how do everyday Washingtonians spend and save money? So we asked a local writer to stretch $300 over a special four-day “hangout with friends” type of weekend, often choosing “free” over “fee” in order not to break the bank. Check out her experience below:
Disclaimer: The views and opinions expressed in this article are those of the author.
8 am I wake up and drink some coffee on the couch. Once I’m kind of awake, I go on the Ford’s Theater website and buy tickets for myself and two friends for a new show premiering in May. We’re all under 35, so tickets are only $20 each.
$60
9 am I have to reload my card before getting on the Metro. I always put $20 on it, which is enough to not run out immediately, but not so much that I’ll lose a lot of money if I lose the card.
$20
Noon For lunch, I decide to go to get empanadas in Dupont. I get three empanadas and chips for under $10, which is a steal.
$8.25
5:30 pm After work, I head to the grocery to get a few boxes of ice cream (chocolate, green tea, red bean, and mango) for a birthday party I’m going to later.
$18.20
6 pm I head over to a friend’s house for a class she’s hosting on different kinds of gin. We learn about all the different floral ingredients and taste several top-shelf gins. We each give the teacher $10 to offset her costs in buying all the ingredients. The class then morphs into a birthday party.
$10
Thursday Total: $116.45
I’m too exhausted to go anywhere, so I end up sitting at home, eating leftovers for lunch and watching television. For dinner, my neighbor across the hall is nice enough to share some salmon tacos he made.
Friday Total: $0
11:30 am I bike to Dupont to run some errands (the Metro is so unreliable on weekends), and I stop by my local hair salon for a haircut. As usual, I’m the only woman there, but they always do a great job, and I can be in and out in 30 minutes.
$42
1 pm I get a check in the mail from my grandmother for my upcoming birthday and use Capital One’s mobile deposit to deposit it. Cha-ching!
-$50
3 pm On my way back from running errands I stop by for a slice of pizza in Chinatown.
$4.39
5 pm I bike down to Diamond Teague Park where I board a pontoon for a free 2-hour historical and environmental tour of the Anacostia River.
$0
8 pm After the boat tour, I head down to the brewery with a few friends. I buy everyone the first round of beers while we wait for a table. For dinner, I get the falafel burger.
$67.10
Saturday Total: $63.49
11 am A friend who’s in from out of town calls me after she finishes running the Cherry Blossom 10 Mile Run, and we go to breakfast. I order a coffee and half portions of both challah French toast and chorizo scramble. Mmmm…
$19.88
1 pm We head to the Sackler Gallery to meet a friend who wants to see the new “Kung Fu Wildstyle” pop-up exhibition. We also wander around the rest of the museum and into the National Museum of African Art, which is an amazing world to explore.
$0
5:45 pm After sitting on the museum lawn and chatting for awhile, we grab a cab to take us to dinner to meet up with a fourth friend. (Like I said before, Metro on weekends is the worst.)
$14.41
6 pm We have dinner at my favorite vegan spot on Georgia Ave., where even non-vegans like to eat! I get enormous portions of three sides—macaroni salad, artichokes, and green beans. This place is famous for its vegan mac and cheese but I also recommend the artichokes.
$12.10
Sunday Total: $46.39
Grand Total: $226.33 – in under the budget!
Lesson learned? Sometimes it makes more financial sense to bike to where you’re going than to pay money for it, but other times, it’s nice to splurge and buy your friends that beer if you can afford it.
And be confident with your financial decisions! After all, according to Capital One Bank’s recent survey, 42% of Washingtonians feel that confidence in financial matters contributes to their success and well-being—so maybe it’s time to take a page from that book and feel empowered in your spending and saving habits. Ready for that new challenge? Let Capital One Bank lend a hand.
Capital One is proud to lead the charge on the future of finances and celebrate Financial Literacy Month. Their banking experience is built on digital tools like mobile check processing and Amazon Alexa integration, physical locations and human connection to provide enhanced security and convenience for you to bank digitally, but not digital only. They’re always listening to what you want because, after all, they have your back.
This post is a sponsored collaboration between Capital One Bank and Gothamist staff.
