03 July 2012

Having the tough conversation with yourself

By: Jessica B.
Tagged: Random

Money doesn’t grow on trees, but lately, I sure think it does. I am usually pretty responsible with money but over the last few weeks, I’ve been “making it rain” all over the place. And now that storm has to stop.

Between vacations and summer in Chicago, I have been “hemorrhaging” out money and after checking my credit card balance and savings deposits, that shit has to STOP.

So Friday night, I picked up a little fro yo and went home to put myself on a budget. It was the tough conversation with myself that I didn’t want to have.

First step, looking at my regular monthly expenses and recent spending.

And then I needed a beer (or three).

Let’s just say, it wasn’t pretty. And not because I’m out buying expensive things or big-ticket items without being able to afford them, but all of those little charges add up. Cabs. Beers on the patio. Dinners. Lunches. Starbucks. Movies. Etc. DAMN.

And as painful as it was to see where the money’s going, it re-affirmed what I already knew, that if I want to keep traveling, I have to put myself on some kind of budget so I can do fun things in Chicago and on vacation without having to worry about money.

I don’t want to worry about money (more than I have to.)

Starting July 1, this girl is making a few financial changes. It won’t always be fun but I have to keep the bigger picture in mind because when I’m shopping Borough Market in fall, I do not want to feel like I have to deny myself because I can’t get stuff under control.

No thank you.

What about you? Have you had to put yourself on a budget? Were you able to adhere to it?

10 Comments

  1. Elizabeth says:

    I’m horrible about keeping track of the small bits of money, but I haven’t yet put myself on a budget. Well, I guess I kind of have–I take out a certain amount in cash and try to use that for the little things, and when that’s gone it’s kind of a warning to slow down.

  2. orangesugar says:

    I’m pretty frugal but keeping track of where my money goes is hard. That is until I found YNAB, you should definitely check it out. It’s a money management software with a built in budget function that is tremendously helpful in keeping track of how much you are spending and where.

  3. Marjolein says:

    Same thing happening here, but because of issues at work.. sometimes it can be easy to make minor changes. For instance, I love Starbucks and now bought a travel mug and I get 25 cents discount for bringing my own mug every time. It’s only a small thing, but those tend to add up as you said.

  4. allison says:

    ugh… this is the story of my life. I have had quite the fun past 6 months or year really, so it’s about time I stop that nonsense and buckle down. I set up time with a financial planner and just need to focus on building up my savings..

    and throwing away the nordstrom catalog.

  5. katelin says:

    dude, i know we talked about this and man. i need to budget so badly. my money is just leaving before i can even spend it properly these days, haha. oh budgets, so necessary and so scary.

  6. Andrea says:

    I’ve done the “budget” thing a few times. What I found worked best was cutting out the small things – getting coffee out, buying anything from vending machines, going out for ice cream or lunch. If I eliminate those, my saving go way up. I also put a time limit on it and the reevaluate after that set time. If I need to save more, I tighten my spending more; if I am right where I want to be, I stick with it and if I am over where I thought I would’ve be, I treat myself to something small and then keep going. Good luck!

  7. Jenn says:

    So is this a bad time to tell you that I received the Nordstrom catalog for their July sale? :)

  8. I’m not so much on a budget as I’ve put more thought into my purchases and savings. Before, I would buy things just to buy them but now, I’m more conscious of the ‘necessity’ of the item(s). I was especially crippled by a clearance sign, just because it’s on sale it doesn’t mean I have to buy it.

    In addition, I’ve been putting a set amount of money into my savings account each week and have recently hit a milestone amount that I’ve been working towards for about a year. It’s such an amazing feeling to actually see that amount show up in my account. Now I’m looking into ways to maximize savings such as a CD or something.

  9. I have as I’m staying home for the next 6 months! I have leave time to use but I don’t have enough to be paid out at 100% for the whole time. So I’ve reduced to 65-70%. It is tough, but necessary. :(

 

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