Tuesday, January 6, 2009

iiiiiiit's BUDGET TIME

It's January 6th, and I'm going to be out of debt this year. Well, mostly anyway. I think it's absurd that I'm still IN debt anyway. I used to be crazy-scared of credit cards...took me YEARS to get my first one, which I only ever put my gas purchases on. It was 2 years after that before I got another one, the sole purpose of that one being the 0%APR for my first camera purchase. Unfortunately, the world of professional digital photography is not a cheap one...and that first camera purchase was 5 years ago. Now, it's 2009 and I'm staring all that equipment in the face every month as I make another payment to the credit card company.

Don't get me wrong...me and Suze Orman are besties. I know exactly what I need to do to get out of debt (stop buying coffees, eating out at work, eating out - period). It's the actual implementation of it that baffles me. Somehow I start off so good...only to be scraping pennies and pulling from my savings account every month. I have a hard time saying "no", but that's a whole other post.

This has to stop.

For a full week, I am going to keep track of absolutely everything I spend money on. Then, after that, I'm going to do it for the rest of January. I've already bought the swimsuit, and that goes in the "fitness" part of the budget. To me, it's akin to the race fees I pay every few months for the 5K's, 5milers and 10K's I run through the year. I have factored "fun" into the budget since I know that a budget can be like a diet and if I deprive myself of everything I'll end up spend-binging and then crying myself to sleep.

Step one: Paying myself first. I'm setting up an ING account tomorrow (mostly because Emmy nearly had a heart attack when I told her that none of my savings accounts were interest bearing).

Step two: Learning to "window shop". I hear that just gazing at the things you desire can leave you just as fulfilled as actually purchasing them! Who knew!

Step three: Eat more meals at home. This should not actually be a hard thing to do, but living alone means that I usually will opt for a sandwich at Panera with other humans before eating a similar sandwich at home with my cat and the TV. I have to overcome this.

Okay, starting there. See how it goes. All these "ambitions"...I'm going to need a daily checklist!


cneu said...

ING will really make you happy--I started this last year, and it really adds up quickly on you!
Go you!

Heath_827 said...

I'm proud of you Bec, I believe you can do it :)

Erinn Rohan Kober said...

Hi Becca..I love ING. I just $$ taken directly from my checking account monthly that way I don't miss the money so much and ING usually has a good interest rate..although because the economy is bad the rate won't be as high as when I started.
As for eating alone at home, well..I never had a huge problem doing that mostly because when I was single I didn't really eat dinner or just had cereal or crackers..so it was quick and painless :)
I have a love/hate relationship with credit cards, but I did get myself out of debt and it feels oh so good.
I know you can accomplish most of what you stated, but don't be too hard on yourself if you mess up or lapse into old ways. It's easy to do.

Dannyelletata said...

Try getting one of those water jugs and tossing all of your change in it at the end of the day.

I swear by ours. I have to stop at the bank every so often because it gets too heavy and I worry about our floor haha

Our last stop made us $275 richer! and I didn't empty it all the way.

ING is also awesome. Take advantage of their Certificates!

oh..I'm rambling. Budgets, savings and crap excites me far too much!