It’s always been the plan to live in our two-bedroom condo for five years and then upgrade to something bigger with a yard and more space. Good thing, too, as the walls are closing in on us with toys, toys and more toys. My son has grandparents who like to spoil their only grandchild and we are living in what seems to be an FAO Schwartz these days. Our little guy is very active and loves to spend hours upon hours outside exploring the “wilderness”, riding his bike up and down the sidewalk or splashing around in his pool – we need that yard pronto. So, now that it is time to start looking for that next place we will call home for the next 10 years or so, we have been taking a close look at our finances. We have been saving for five years to get a good start on a new mortgage, but now that we are actually at that point, it feels as though we could have tried harder and gotten even more if we really buckled down. Part of that challenge is taking a look at all of the unnecessary spending. Unfortunately for me, 99% of that superfluous spending comes from me, not my super couponing, deal-getting, freebie fiend of a husband.
I spend a lot of time at Target, a lot. I find myself aimlessly perusing the aisles there three or so times a week. I will go in for milk and end up with a $100 total. I always seem to find things I “need” or “have to have” but realize it wasn’t really necessary. It’s always a new toy for my son (grandparents aren’t the only ones who spoil), a new shampoo that smelled too good to pass up, or more clothes for my toddler.
I’m a Starbucks snob. I have been since high school. My girlfriends and I would drive 30 minutes to the nearest location and it was our “night out.” We all would get frilly drinks like a frapachino and gossip about school and boys. Nowadays, my daily chai tea latte habit of $5+ a day costs me more than $2,000 a year, double that if I get a breakfast sandwich, which is the case more times than not. So, say $3,000 a year just at Starbucks. Over the past five years I could have saved $15,000 or even more! Okay – that is the fist time I ever thought about it in the five-year term and I am blown away.
I often go out to lunch, too. And in the suburbs of Chicago you can’t even get fast food for less than $10. Say I go out four times a week. Over a five-year period that totals to about $10,000! So, if I would have just gone without my chai or lunch for five years I could have saved more than $25,000. Yikes.
Since reevaluating my spending, I now ask myself “do I really need this?” and “is there a cheaper option?” I have traded in some of those chai tea lattes for a hot tea at home and some of those lunches out for leftovers or a cheap way to eat – a peanut butter sandwich.
Now that we are well on our way to COVID-19, year two, airlines are focused on cash management and MRO planning is getting strict. One company who is helping customers reach their maintenance goals while also being smart spenders, is MTU Aero Engines.
Martin Friis-Petersen, SVP, MRO programs, MTU Aero Engines, says the company is supporting its customers and partners with scenarios and engine MRO strategies to maximize the use of existing assets, but also to avoid unnecessary spending. (Sounds like a strategy I need to adopt, as well.)
“During such an uncertain market environment, airline fleet planning must be built on accurate and timely recommendations as to the most economic MRO strategy for their fleet,” he explains in our exclusive MRO profile feature this month. See what else MTU Aero Engines is doing to help customers during this uncertain time, starting on page 30.
