Monday, July 25, 2011

Spending Hiatus

Let's talk about money. Or the lack of it.

I was suppose to be saving for a vacation.

Instead, I have been on some sort of casual, slowly compounding spending spree. That is, I'm not out buying huge things like furniture or gadgets (well, I did buy an iPod but that's gadget not gadgets). I'm just going to the grocery or target or home depot and spending $30-50 at a time but doing that about 6x too much a month. "It's only $30," sounds so innocent when you're swiping yee old debit card, right? But it leads to a lot of mindless spending. Throw in a few larger expenses ($600 vet bills, $300 house project bills, $150 splurges for plants or (ahem) an iPod) and finances quickly went out of control & ate away at what little savings I had for my vacation and/or emergencies.

So it stops now. I can be hardcore budgety when there is a need and there is most definitely a need. Let the spending hiatus commence! Let the savings account stop bleeding funds!

Here's what's happening. I'll be giving myself a weekly cash budget and when that's gone, it's gone. Food for my belly, gas for my car & absolute essentials are top priority. House projects are next. I have plenty < $30 projects to work on for a good long while. Then good old-fashioned cheap fun. Free stuff like enjoying the great outdoors & museums & exploring new towns. And a once a week meal out w/a good friend can probably fit in there too. :)

I'm going to be making weekly menus to stretch the food budget. I see lots of salads & light pasta meals in my immediate future. But I'm cool with that. Actually that sounds really delicious right now. No more smoothies from Starbucks or iced coffee from Caribou... I have the tools/know how to make those at home for a fraction of the convenience cost.

The second goal will be to fatten up my savings. I looked at my budget and after all the bills are paid, I should be able to comfortably split the rest up 50/50 between spending money and savings. So that is what I will be working towards... I realize that it may not always go according to plan but I will be putting all my efforts toward making it work.

Woot. Let's do this thing. :)

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