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On the December 19 episode of the GTFOutcast, Beau and Taylor discuss the many ways to cut down on your monthly expenses — whether it is while you are traveling, or to save up more at home before setting off on your travels.
Watch GTFOutcast Episode 11:
0:15 – Taylor is finally ready to move out of his house after putting it up on the market.
1:24 – Taylor talks about how his RV risked being towed away
4:34 – Beau segues into the topic of geo-arbitrage — basically a concept of “3rd world budget; 1st world income,” which has worked out (unsurprisingly) really well for him. Taylor talks about how life on the road in an RV isn’t as cheap as people think it could be.
7:30 – Beau breaks down his monthly expenses living in Mexico City:
- $1200 /mo for all housing and utilities for a 2 bedroom house on a short-term lease
- $800-1000 /mo for food, drinks, coffee etc.
- $1000 /mo for travel
9:52 – Taylor guesstimates his expenses:
- $800/mo for RV slip+all utilities to park at nice RV camp
- food / drinks TBD as Taylor plans to cook a lot more to save money
- travel in the RV so far gives 8mi/g (!!!) and $.45/mi just in gas
14:00 – Taylor suggest many ways reduce food/drink costs, like, stop drinking coffee from Starbucks! Consuming less alcohol is also a no-brainer. Cut back on Coke/soda by buying your own fizzy water/soda maker, like a Sodastream machine. How about getting a filling meal from a sandwich shop versus eating at fine dining restaurant. Granted, these are some things one cannot always do when traveling.
18:43 – Beau talks about how he eliminated all his monthly auto-billed costs like cable subscriptions. Beau also cut back on discretionary expenses such as toys. As in, expensive ‘man toys’.
25:00 – Beau recommends thought exercises to be more aware of what you’re spending on. Like, $4 on a cup of coffee, or what else the same amount of money could buy at a beach in Costa Rica? Both Beau and Taylor highly recommend mint.com for financial planning.
28:29 – Beau wraps up the show.
Save $100 on your monthly cable bill TODAY and when you’re traveling. Find how in the next episode of the GTFOutcast.