I have been FREAKING OUT about money over the past several weeks, but haven’t blogged about it. I know that I have not been doing my best, and it’s hard to admit that to myself and it’s hard to admit it to the anonymous internet! I look at the past and I look towards the future, and I think – I should have spent less, saved more. That’s the real key to personal finance success, right? So simple. But so hard to execute. I read a lot of PF blogs because they are entertaining, educational, and inspiring. A lot of bloggers have talked about feeling guilty (or not) for spending money on anything from travel to a nice outfit when they still have a huge pile of debt. Without getting too far into that debate, I feel like I need to allow myself to have an enjoyable life, within reason (and without more debt), even while I work to pay off my debt. I’m not going to put my life on
I have slowly but surely been decreasing the amount I charge my roommates for rent, and the difference really does add up. I have been looking ahead to the next few years of my life and what is coming down the pipeline in terms of finishing both of my graduate degrees and the associated increased expenses as I transition into completing my second degree (the degree I’m working on now has no real expenses associated with it, but the degree I’ll finish second will require thousands of dollars in textbooks, licensing fees, and interview costs). I’m also looking to finally get a dog, and I’ll probably want to hire a dog-walker to come at lunch time when I’m in my second degree because I will be working for 12hour days and not have time to come home at lunch like I do now. I know that I have a few years before all this happens, but I’m already getting anxious about it. This means it’s time to get a little proactive. I think my idea of allocating one set of rent collections ($620) to savings every month is a good one, and I want to keep doing it so I can see progress like that, get some positive feedback to keep me at it!
– Take the one rent check, $625 and allocate it to a savings goal (either as a whole, or I could break it up)
– Take the other rent checks ($1310 total) and use that for mortgage ($937) and put the remainder into my “Taxes” savings account ($373) as sort of a mini-escrow account for my property taxes, since I’ve been doing a terrible job of keeping that straight.
– Focus on being extremely mindful of my spending. Try to put all expenses on the one credit card for easier tracking, and update my budget spreadsheet each day with the spending. Report weekly spending on the blog, and keep discretionary funding below $1000. I feel like my spending has gotten crazy and I need to reign it in…the ordinary spending is fine, it’s these random extras that happen and really wreck my budget. A big part of that is shopping…I have a lot of clothes and I need to stop buying more. I’ve been slowly going through all of my clothes and I think by …