I'm not good at everything
(as if you thought I was).
We recently got the bill for that little hospital stay a few weeks ago. Let's just say, we need to start pinching pennies, STAT! I'm so impressed and in aw of all you bloggers and real life friends out there who save like it's your job and don't really think much of it. Seriously, I applaud you.
I'm one of those frivolous spenders...sure I need another sweater from the LOFT, heck yes let's throw another few random groceries in the cart, dinner out? (I know we shouldn't, but okay!).
One of these days, I keep telling myself, I'll make enough $ to start saving because right now I only make enough to live. The truth is, "one of these days" IS NOT SOON ENOUGH. And the frivolous spending happens because I feel bad for myself that we can't afford bigger things (trip to Hawaii, a newish car, etc). Basically, it's a vicious cycle.
I mean, what the hell am I waiting for?
And because it's really been weighing on my mind this week, clearly it's an issue I've got to start working on.
So, here's the thing. By the end of February, I will ...
1. have set up a mint.com account for myself (and the manfriend if he so wishes) and will begin funneling all my finance info into that thing and begin understanding the tool.
2. have completed and filed my taxes (seriously, there's no reason for me to wait every year. I have no kids or properties to make things tricky.)
3. have created a budget for the manfriend and I (ex. 30% to mortgage, 30% to bills, 10% to groceries, 20% to savings, 10% fun). Our budgets don't have to follow the same amounts or areas, but will be focused on what each of us needs to put $ toward.
Sound like a good plan?
Jess at Makeunder My Life posted the process that her friend Cathy at Fiscally Chic took (from Jess's four step makeunder process) in getting her finances in order so that she and her husband could save for a down payment on a home. Reading their four step process combined with seeing a few thousand dollar medical bill really lit a fire under my rear.
Are you currently saving for anything big (or just to pay off some debt)? What is your strategy?
We recently got the bill for that little hospital stay a few weeks ago. Let's just say, we need to start pinching pennies, STAT! I'm so impressed and in aw of all you bloggers and real life friends out there who save like it's your job and don't really think much of it. Seriously, I applaud you.
I'm one of those frivolous spenders...sure I need another sweater from the LOFT, heck yes let's throw another few random groceries in the cart, dinner out? (I know we shouldn't, but okay!).
One of these days, I keep telling myself, I'll make enough $ to start saving because right now I only make enough to live. The truth is, "one of these days" IS NOT SOON ENOUGH. And the frivolous spending happens because I feel bad for myself that we can't afford bigger things (trip to Hawaii, a newish car, etc). Basically, it's a vicious cycle.
I mean, what the hell am I waiting for?
And because it's really been weighing on my mind this week, clearly it's an issue I've got to start working on.
So, here's the thing. By the end of February, I will ...
1. have set up a mint.com account for myself (and the manfriend if he so wishes) and will begin funneling all my finance info into that thing and begin understanding the tool.
2. have completed and filed my taxes (seriously, there's no reason for me to wait every year. I have no kids or properties to make things tricky.)
3. have created a budget for the manfriend and I (ex. 30% to mortgage, 30% to bills, 10% to groceries, 20% to savings, 10% fun). Our budgets don't have to follow the same amounts or areas, but will be focused on what each of us needs to put $ toward.
Sound like a good plan?
Jess at Makeunder My Life posted the process that her friend Cathy at Fiscally Chic took (from Jess's four step makeunder process) in getting her finances in order so that she and her husband could save for a down payment on a home. Reading their four step process combined with seeing a few thousand dollar medical bill really lit a fire under my rear.
Are you currently saving for anything big (or just to pay off some debt)? What is your strategy?
Comments
I highly recommend ING Direct for saving. THE SECOND I get paid, I immediately transfer a big chunk of my funds into my ING account for savings. I also have my ING account split into four mini accounts "fun and trips" "car expenses" "house savings" "misc", which helps a lot too because if I have an unexpected car expense, I know there is a bit of money in my car expenses account to dip into!
I also ALWAYS try to keep my credit card balance below $200 (I know the paying it every month rule is better but that doesn't work for me so I just keep it under $200 which means minimum interest!)
Finally, EVERY time I get paid I take out $60 cash. That is my "allowance" for those little expenses - coffees, dinners out with friends etc. etc. If I'm not careful that $60 runs out fast and then I'm SOL for the rest of the time until my next paycheque :)
Good luck!
I have gotten to be a much better spender in the last couple of years. For me, it has to automatically come out of my paycheck or it doesn't happen. So I have a set amount that goes to an ingdirect savings account. I like ING because it takes 3-4 days to get the money if you want to transfer money out of savings - which prevents me from making rash decision! I used to have a savings account w/ WF but it was way too easy to just instantaneously transfer money to my checking account and spend it!
Good luck! You are a smart cookie and are very disciplined - you can do it! :)
I'm glad you found my posts! As you've said, every little bit helps, so I'm sure you'll get things in line so you can save for more exciting things. Like Hawaii!
I've heard great things about Mint.com! I will sign up too!