My apologies to the blog fans/readers out there for the lack of posts. Unfortunately, nothing too exciting (money-wise or other-wise) has been going on in our lives to blog about. My first payment on the new loan is coming up in a week or so and I've been dutifully documenting all my expedentures in a notebook that goes everywhere with me. It's not as hard as I envisioned it to be - except when I throw out a receipt and have to jot down the approximate amount of money I spent until I can get onto my online banking and see how much it actually cost.
May has been a pretty quiet month on the spending front.. a few impulse spending moments here and there, but nothing too budget busting. The hubs and I agreed I need to try and save a car payment per month... the Katmobile is still trucking (for now), but I know in a year or so, it's going to be time for another and I need to be prepared. I'm hoping to save around $300 a month. I have to get down to the credit union to increase the amount they deduct from my paycheck for savings ($100 a paycheck, instead of $50) so that will cover most of it. The rest I'll just transfer over into our "Reserve" account - $20 a week, perhaps? Sounds managable.
Anything exciting going on the big bad world out there? Do tell!
Wednesday, May 16, 2012
Thursday, May 10, 2012
bundle of joy?
I think since the hubs and I started dating, it was pretty much a given (to everyone else, at least) that we would get married. So by the time we actually got married, five years later, everyone else was ready for us to start popping out kids. I fairly certain I've disappointed my fair share of in-laws with every holiday that goes by and I don't tell them I'm knocked up.
To be honest, I've never been much of a kid person. With the exception of my younger cousin, neice, and nephews, I couldn't stand children for longer than an hour or two. I had one babysitting job as a tween and that barely lasted one summer because I thought I would rip my hair out - never did that again. Ironically, kids l-o-v-e me. More than dogs do (and I l-o-v-e dogs). My mom tells me she was the same way and that I'll feel differently once my close friends start having kids. But after reading this article on Yahoo! yesterday, I'm more skeptical about having kids than ever before:
The article gives a few talking points to go over regarding the first year with baby. The most important that jumps out to me is: Will you both work or will one of you quit to care for the child? I've always said if we had kids, I would want to stay home with them until they went to school or at least work part-time. Unfortunately, at this juncture, if I got pregnant tomorrow, that option would not be on the table. We need both incomes. So then we need to factor in child care costs which averages around $1,000 a month in our area. My mom works full time and the hubs' parents are two hours away, so family help isn't something we can't count on on a daily basis.
Then there are the other obvious expenses: diapers/wipes, clothing, food, etc etc. An economy pack of newborn diapers (236 count) on Amazon costs $48.00 and a newborn can go through between 8-12 diapers per day which means that pack won't even get you through a whole month. Hopefully, you're lucky enough to get a bunch of hand-me-downs, but even buying used clothing can be expensive when compared to how fast kids grow. Lastly, there are the little expenses that you might not think about, but can add up: co-pays for doctor's visits & your health insurance premiums in general, car payments if you'll need a bigger/safer car, and all the fees associated with sports/scouts/clubs as they grow up.
The financial planner in the article recommends paying off all your credit cards and automating your retirment savings before having children. He also recommends living on less and cutting out any extra spending that you can (he suggests 90% of your take home income & stashing the extra 10%).
My bank account is screaming already.
Now I know those of you with children will talk about what a joy it all is and how it's totally worth it - but since I don't have kids, I don't particularly buy that logic. I have frequently asked my mother if all this (picture me gesturing to myself) was worth it, usually after reading an article like this. For some reason, she keeps saying yes. Maybe she's getting senile. Right now, I'm perfectly content to snuggle up with my 35 pound fur baby who, barring any emergency surgeries, will probably cost me less than $10,000 to raise. At that rate, I can adopt a second!
To be honest, I've never been much of a kid person. With the exception of my younger cousin, neice, and nephews, I couldn't stand children for longer than an hour or two. I had one babysitting job as a tween and that barely lasted one summer because I thought I would rip my hair out - never did that again. Ironically, kids l-o-v-e me. More than dogs do (and I l-o-v-e dogs). My mom tells me she was the same way and that I'll feel differently once my close friends start having kids. But after reading this article on Yahoo! yesterday, I'm more skeptical about having kids than ever before:
Now, I understand (and they point out in the article) if you really sat down to tally everything up, you would never have kids and that no one is ever "really" ready. But, since I'm blogging about money, is there really a bigger decision that captures the essence of the word "personal finance"? The choice to have a child(ren) is probably one of the biggest personal and financial decisions a person will ever make, so we should go into it as informed as possible.The government's most recent annual report reveals a middle-income family with a child born in 2010 can expect to spend roughly $227,000 for food, shelter and other expenses necessary to raise that child - $287,000 when you factor in projected inflation...the bill does not include the cost of college or anything related to the pregnancy and delivery.
The article gives a few talking points to go over regarding the first year with baby. The most important that jumps out to me is: Will you both work or will one of you quit to care for the child? I've always said if we had kids, I would want to stay home with them until they went to school or at least work part-time. Unfortunately, at this juncture, if I got pregnant tomorrow, that option would not be on the table. We need both incomes. So then we need to factor in child care costs which averages around $1,000 a month in our area. My mom works full time and the hubs' parents are two hours away, so family help isn't something we can't count on on a daily basis.
Then there are the other obvious expenses: diapers/wipes, clothing, food, etc etc. An economy pack of newborn diapers (236 count) on Amazon costs $48.00 and a newborn can go through between 8-12 diapers per day which means that pack won't even get you through a whole month. Hopefully, you're lucky enough to get a bunch of hand-me-downs, but even buying used clothing can be expensive when compared to how fast kids grow. Lastly, there are the little expenses that you might not think about, but can add up: co-pays for doctor's visits & your health insurance premiums in general, car payments if you'll need a bigger/safer car, and all the fees associated with sports/scouts/clubs as they grow up.
The financial planner in the article recommends paying off all your credit cards and automating your retirment savings before having children. He also recommends living on less and cutting out any extra spending that you can (he suggests 90% of your take home income & stashing the extra 10%).
My bank account is screaming already.
Now I know those of you with children will talk about what a joy it all is and how it's totally worth it - but since I don't have kids, I don't particularly buy that logic. I have frequently asked my mother if all this (picture me gesturing to myself) was worth it, usually after reading an article like this. For some reason, she keeps saying yes. Maybe she's getting senile. Right now, I'm perfectly content to snuggle up with my 35 pound fur baby who, barring any emergency surgeries, will probably cost me less than $10,000 to raise. At that rate, I can adopt a second!
Tuesday, May 8, 2012
bullseye
I had to go to Target last night after work. Here's what was on my list:
Here's what I left Target with:
Holy No-Willpower, Batman.
- blackberries ($2.49)
- spinach (2/$4)
- drain cleaner (our tub is clogged... so gross)
Here's what I left Target with:
- blackberries ($2.49)
- spinach (2/$3.98)
- drain cleaner ($3.99)
- a big box of borax ($3.99)
- two clearance bottles of Old Spice for the hubs (with mini deodorants attached! $3.38 each)
- a new collar for Molly (actually needed - her old one got chewed up at day care somehow - on clearance - $2.98)
- a pack of denta-sticks for Molly ($2.49)
- two cups of greek yogurt (2/$2)
- a package of Lean Pockets ($1.97)
- an eye mask for sleeping ($1)
- two ice cube trays in the shape of stars for our annual July 4th party ($1 each)
- 2 bananas (0.24 cents each)
Holy No-Willpower, Batman.
Wednesday, May 2, 2012
332.0 - 332.999
I've been reading personal finance books off and on since starting the blog. I get through a few chapters, then put the book down for a week or so before coming back to it. I have David Bach's "Debt Free for Life" by my bed, Carl Richards' "The Behavior Gap" at my desk, and Ben Stein's "What Would Ben Stein Do?"
Remember back when I reviewed all the componants of my credit report/score on Credit Karma? One of the biggest black marks on my record was my high debt to income ratio (43%). This was the main reason why I was rejected for the personal loan. Fresh off our anniversary conversation, the hubs told me to re-apply, but to to add him on the loan as well, thereby increasing our incomes while keeping the debts relatively the same. I did and this time we were accepted.
On Saturday, we took a trip to the bank to sign all the paperwork. Our rate ended up being 8.99% which is still half of what the lowest interest rate is on one of my credit cards. I took out a $9,000 loan for four years at $225 per month. There is no penalty for pre-payment, either, which means anytime I have some extra money, I can throw it towards the principal and pay it off faster. Plus, now I know I'll be able to contribute more to our savings account (I already increased the automatic transfer to $100 per paycheck, instead of the previous $50). All in all, this feels like a much better fit for my life than the previous attempt.
And for the credit cards? They're still tucked away. I opted not to cancel any of the cards, since another black mark on my credit report was the "length of time accounts have been opened." Instead, I'll just let them hang out for awhile. Maybe in a few months, when I feel like I have more control over my spending, I'll break them out for one necessary purchase per month, like gas or groceries. But until then, I'll recognize my weaknesses and keep temptation out of my grasp.
I already feel like a burden has been lifted. Even though I know the debt is still there, being able to see zero balances on the cards AND being able to save for any unexpected expenses, instead of having to whip out a card to pay for them, makes a world of difference. And if I ever get tempted to buy something unnecessary on credit, all I have to do is read my own blog.
Anyone else have any similar experiences lately - either with money or something else?
I haven't picked up Mr. Bach's book in weeks and I'll probably just return it to the library. Like Dave Ramsey and other financial advisors out there, Mr. Bach focuses on paying off all your debt in the fastest amount of time by sacrificing just about everything else. While this approach may work for some, it's just not for me. Full on deprivation just leads me to overdo it later. Plus, I'm not getting another job to help pay off the debt faster. Fact: I'm lazy. I did toy with the idea for a few weeks, but right now, the hubs and I have something going on just about every weekend until June. I'm hopeful I might be able to pick up a nights & weekends gig during the summer when the hubs is off and we don't have to worry about Molly Monster, but we'll see.
I'd rather work with I've got and learn subtle tips and tricks to save more, but still being able to feel like I'm enjoying life. I know, I know, you don't need money to enjoy life, but it sure does help!
Mr. Richards book is more my style. While it's primarily about investing, there are some snippets of wisdom that have stuck with me. Plus, there's pictures! (Diagrams, really.) One phrase I've been carrying around:
Last month, I embarked on trying to pay down my debt myself. As we saw at the end of the challenge, it didn't work out for me as well as I'd hoped. My overall debt total only went down a smidge and I was a bit dicouraged. And I had barely anything left over at the end of the month to put in our savings account, which frankly, was stressing me out. I decided to go back to another option I had previously shurgged off: getting a personal loan to pay off my credit cards and starting fresh. PNC offered loans with a starting rate of 8.25% if payments were deducted from my checking account. I applied... and was rejected."'Personal finance... is more personal than financial.' It's true. Planning for your financial future is personal. It has to be. A good plan will be unique to your situation, and what is right for your situation may be a disaster for your neighbor. So ponder how the advice you encounter applies to you before you make important decisions about your money."
Remember back when I reviewed all the componants of my credit report/score on Credit Karma? One of the biggest black marks on my record was my high debt to income ratio (43%). This was the main reason why I was rejected for the personal loan. Fresh off our anniversary conversation, the hubs told me to re-apply, but to to add him on the loan as well, thereby increasing our incomes while keeping the debts relatively the same. I did and this time we were accepted.
On Saturday, we took a trip to the bank to sign all the paperwork. Our rate ended up being 8.99% which is still half of what the lowest interest rate is on one of my credit cards. I took out a $9,000 loan for four years at $225 per month. There is no penalty for pre-payment, either, which means anytime I have some extra money, I can throw it towards the principal and pay it off faster. Plus, now I know I'll be able to contribute more to our savings account (I already increased the automatic transfer to $100 per paycheck, instead of the previous $50). All in all, this feels like a much better fit for my life than the previous attempt.
And for the credit cards? They're still tucked away. I opted not to cancel any of the cards, since another black mark on my credit report was the "length of time accounts have been opened." Instead, I'll just let them hang out for awhile. Maybe in a few months, when I feel like I have more control over my spending, I'll break them out for one necessary purchase per month, like gas or groceries. But until then, I'll recognize my weaknesses and keep temptation out of my grasp.
I already feel like a burden has been lifted. Even though I know the debt is still there, being able to see zero balances on the cards AND being able to save for any unexpected expenses, instead of having to whip out a card to pay for them, makes a world of difference. And if I ever get tempted to buy something unnecessary on credit, all I have to do is read my own blog.
Anyone else have any similar experiences lately - either with money or something else?
Monday, April 30, 2012
close out
Is it just me or did this month fly by? I can't believe tomorrow is the start of May.
I have to admit, I fell back into some old habits this weekend when it came to spending. But, I recognized it (albeit after I had spent the money) and now I'm ready to get back to saving.
Let's close out April by reviewing the last few steps of Financial Literacy Month (review the other 26 days here and here).
Step 27: Understand the cost of credit. Compare the following before you borrow: Interest rate, length of loan, the total cost of the loan (including interest), credit limit, minimum monthly payment, grace period, and overdrawn & late payment fees. I would also add any pre-payment penalty (I honestly can't believe banks charge you for being responsible). Their blog also reminds you to take into consideration the psychological costs of debt, which, in my opinion, can sometimes outweigh the actual costs (it did for me!)
Step 28: Assemble a financial team. This includes a tax advisor/accountant, a credit counselor, a financial planner, and a lawyer. You may not need all of these componants, but I've heard visiting a financial planner is an expense that's well worth the cost. It can definitely help to have an objective opinion about your finances. The Weakonomist compares your financial team to a football team (helpful!)
Step 29: Appreciate the benefits. "Change may be hard, but the payoff can be priceless." MMI provides a little checklist - "If I stick to my plan, I will..." - I have every box checked off:
feel a sense of accomplishment
have less anxiety
build a secure financial future
improve my creditworthiness
appreciate the things I have purchased
avoid legal problems
be prepared for financial emergencies
feel more in control of my finances
I would also add "have a greater sense of self"
Step 30: Moving forward & Reflections. Is it weird I'm kind of disappointed Financial Literacy Month is over? Even though many of the topics covered during the month were things I already knew, it was nice to review some concepts and apply them to my current finances.
The last reflection of FLM is "What will you do next?" One of the themes I saw over & over during the month was tracking your spending, which I do... kinda, sorta, not really. So May's goal will be to jot down every expense. Whether it's fifty cents in the vending machine at work or paying my half of the mortgage, it's going down in my dollar store journal. I'm hopeful that actually writing it, instead of just reviewing it on the computer screen, will help keep my spending in check.
Did Financial Literacy Month help you at all? I wonder if May has any kind of money theme... "Mad Money May", perhaps? Let's make it happen.
I have to admit, I fell back into some old habits this weekend when it came to spending. But, I recognized it (albeit after I had spent the money) and now I'm ready to get back to saving.
Let's close out April by reviewing the last few steps of Financial Literacy Month (review the other 26 days here and here).
Step 27: Understand the cost of credit. Compare the following before you borrow: Interest rate, length of loan, the total cost of the loan (including interest), credit limit, minimum monthly payment, grace period, and overdrawn & late payment fees. I would also add any pre-payment penalty (I honestly can't believe banks charge you for being responsible). Their blog also reminds you to take into consideration the psychological costs of debt, which, in my opinion, can sometimes outweigh the actual costs (it did for me!)
Step 28: Assemble a financial team. This includes a tax advisor/accountant, a credit counselor, a financial planner, and a lawyer. You may not need all of these componants, but I've heard visiting a financial planner is an expense that's well worth the cost. It can definitely help to have an objective opinion about your finances. The Weakonomist compares your financial team to a football team (helpful!)
Step 29: Appreciate the benefits. "Change may be hard, but the payoff can be priceless." MMI provides a little checklist - "If I stick to my plan, I will..." - I have every box checked off:
I would also add "have a greater sense of self"
Step 30: Moving forward & Reflections. Is it weird I'm kind of disappointed Financial Literacy Month is over? Even though many of the topics covered during the month were things I already knew, it was nice to review some concepts and apply them to my current finances.
The last reflection of FLM is "What will you do next?" One of the themes I saw over & over during the month was tracking your spending, which I do... kinda, sorta, not really. So May's goal will be to jot down every expense. Whether it's fifty cents in the vending machine at work or paying my half of the mortgage, it's going down in my dollar store journal. I'm hopeful that actually writing it, instead of just reviewing it on the computer screen, will help keep my spending in check.
Did Financial Literacy Month help you at all? I wonder if May has any kind of money theme... "Mad Money May", perhaps? Let's make it happen.
Friday, April 27, 2012
clothes make the (wo)man
Yesterday I had one of those mornings where I hated everything in my closet and felt like everything looked terrible on me (I'm sure all the female readers out there can understand). I have a love/hate relationship with my work clothes. I don't exactly have a job that necessitates a "power suit", but I feel like I should do more than wear slacks & button down everyday. Somedays I take the phrase "dress for the job you want, not the job you have" to heart and somedays I barely make the dress code.
Then I started looking at my other clothes which are a mash-up of nicer, "adult" pieces and things I've owned from the juniors section for the past five years. Blah. Hating it. Unfortunately, there's still no room in the budget for extraneous shopping trips. I need to start shopping smarter when I do buy things and pick up pieces that can work for the office and for down time. I know there are folks out there who swear by thrift stores, but I've never had any luck with them. There is a consignment shop near our home, but the prices there are the same as if I bought a new shirt from TJ Maxx.
How do you budget for clothes? A friend of ours used to get a clothing allowance for his job- he would buy one new polo shirt a year then spend the rest on beer. The hubs has a standard uniform of khakis(work)/jeans and a Ralph Lauren polo shirt. Anyone else out there a Maxxiniesta?
Then I started looking at my other clothes which are a mash-up of nicer, "adult" pieces and things I've owned from the juniors section for the past five years. Blah. Hating it. Unfortunately, there's still no room in the budget for extraneous shopping trips. I need to start shopping smarter when I do buy things and pick up pieces that can work for the office and for down time. I know there are folks out there who swear by thrift stores, but I've never had any luck with them. There is a consignment shop near our home, but the prices there are the same as if I bought a new shirt from TJ Maxx.
How do you budget for clothes? A friend of ours used to get a clothing allowance for his job- he would buy one new polo shirt a year then spend the rest on beer. The hubs has a standard uniform of khakis(work)/jeans and a Ralph Lauren polo shirt. Anyone else out there a Maxxiniesta?
Wednesday, April 25, 2012
sugar lips
That title has nothing to do with money and everything to do about the massive amount of sweet treats I've eaten today. Free breakfast at work... is there anything better? (actually, a glass of milk would be awesome right now, but I'll manage.)
I'm currently waiting on Card #1's decision about my credit line (read more about that here) and I have another financial transaction pending that I'll be able to divulge more information about soon, hopefully. In the mean time, it's been awhile since we checked in at Financial Literacy Month, so let's catch up!
Step 17: Save for Your Goals. The tips for savings are "make it automatic, turn a hobby into an income, downsize, & use gifts wisely." I already started the automatic savings ($50 taken out pre & post tax into separate accounts), but I don't really have a "hobby", unless you know somewhere I can get paid to lay on the couch and watch Law & Order SVU. We don't really have a lot of stuff to begin with in order to downsize, and we recently used our tax return to re-bolster our savings account; However, if I get monetary gifts for my birthday or Christmas, I'd be lucky if they lasted a week in my wallet. That'll be a goal to work on at the end of the year.
Step 18: Where Does All the Money Go? Seriously! Where is it? This step is about tracking expenses. I hate tracking expenses, even though I know it's a necessary evil. I just can't seem to commit to carrying a piece of paper or a notebook around for more than a week. Instead, I've been trying to log onto my online banking every few days to analyze/catagorize where the money is going. Next week, I'll be breaking down this month's spending and see where I can do better.
Step 19: Identify Fixed Expenses. Sounds easy!
Mortgage: $600.00 (includes taxes)
Water/Sewer: $40.00 (paid quarterly)
Cell Phones: $178.00
Cable: $125.00
Student Loans: $205.00
Credit Cards: $300.00
My total fixed expenses are about $1,200 or one paycheck per month. I did not include the electric bill, because that's our biggest variable expense! It's like a roulette wheel every month on what it's going to be.
Step 20: Identify & Plan for Periodics. It's crazy that I never even thought to pre-budget for these expenses before now. "Often, we know when these events will occur, but still fail to plan for them." Uh, hello, that's me! As I touched on yesterday, birthdays are an expense I don't specifically budget for, even though they come at the same time every year. Renewing my car's registration is another one (for the hubs too!). I do a fairly good job at budgeting for Christmas. Usually around October I start pestering everyone for gift ideas, but I've also been known to buy things throughout the year in order to spread out the spening.
Step 21: Document Your Spending. FLM suggests uploading your monthly expenses into their worksheet or a similar one in Excel or Quicken. I know my SIL uses a spreadsheet tracker. I guess I better jump on this bandwagon!
Step 22: Identify Ways to Reduce Spending. One way I've reduced spending that I've briefly mentioned before is carpooling. I now only have to get gas 3-4 per month instead of 5-6 times. It doesn't seem like a lot, but with as prices on the up & up, saving an extra $60-$70 a month comes in handy! I also use the GasBuddy app on my iPhone to locate the cheapest gas near me. A penny saved is a penny earned, right?
Step 23: Save Money on Groceries. Ugh, yes, this is what we need. You may recall the other week when I noticed we spent almost $500 on groceries in March 2012. And there's only two of us in the house. FLM's website encourages weekly meal planning. One of my co-workers does this with success, but I really haven't been able to get into it. What I plan out on Sunday just doesn't translate by Thursday when I want chicken instead of fish. Instead, I've been utilizing my favorite stores apps to make lists and stick with them and trying to set an overall budget. It's a work in progress, but I'm getting better.
Step 24: Share a Financial Tip for Change."When you identify ways to reduce spending, you are being honest with yourself about your finances. Being honest with yourself and others about your finances will ensure your success." Well this blog is one big lump of honesty - the good, the bad, the ugly, it's all here.
Step 25: Document Your Desired Spending. In other words, indicate how you would like to change your spending. I actually just revamped my budget last week and set up e-mail alerts so I know when I'm at or near my budget threshold. I decreased spending in a few catagories (namely personal catagories like health/clothing).
Step 26 (for good luck): Protect Yourself by Performing Personal Financial Check-Ups. Check in on your home/auto/health/life insurance policies to make you're covered in a way that best fits your lifestyle. There's no sense in paying for stuff you're not going to use!
How is your financial literacy month shaping up? I think it's clear my goal for May needs to be an exhaustive documentation of my month's expenses! Has anyone received a good financial tip lately?
I'm currently waiting on Card #1's decision about my credit line (read more about that here) and I have another financial transaction pending that I'll be able to divulge more information about soon, hopefully. In the mean time, it's been awhile since we checked in at Financial Literacy Month, so let's catch up!
Step 18: Where Does All the Money Go? Seriously! Where is it? This step is about tracking expenses. I hate tracking expenses, even though I know it's a necessary evil. I just can't seem to commit to carrying a piece of paper or a notebook around for more than a week. Instead, I've been trying to log onto my online banking every few days to analyze/catagorize where the money is going. Next week, I'll be breaking down this month's spending and see where I can do better.
Step 19: Identify Fixed Expenses. Sounds easy!
My total fixed expenses are about $1,200 or one paycheck per month. I did not include the electric bill, because that's our biggest variable expense! It's like a roulette wheel every month on what it's going to be.
Step 20: Identify & Plan for Periodics. It's crazy that I never even thought to pre-budget for these expenses before now. "Often, we know when these events will occur, but still fail to plan for them." Uh, hello, that's me! As I touched on yesterday, birthdays are an expense I don't specifically budget for, even though they come at the same time every year. Renewing my car's registration is another one (for the hubs too!). I do a fairly good job at budgeting for Christmas. Usually around October I start pestering everyone for gift ideas, but I've also been known to buy things throughout the year in order to spread out the spening.
Step 21: Document Your Spending. FLM suggests uploading your monthly expenses into their worksheet or a similar one in Excel or Quicken. I know my SIL uses a spreadsheet tracker. I guess I better jump on this bandwagon!
Step 22: Identify Ways to Reduce Spending. One way I've reduced spending that I've briefly mentioned before is carpooling. I now only have to get gas 3-4 per month instead of 5-6 times. It doesn't seem like a lot, but with as prices on the up & up, saving an extra $60-$70 a month comes in handy! I also use the GasBuddy app on my iPhone to locate the cheapest gas near me. A penny saved is a penny earned, right?
Step 23: Save Money on Groceries. Ugh, yes, this is what we need. You may recall the other week when I noticed we spent almost $500 on groceries in March 2012. And there's only two of us in the house. FLM's website encourages weekly meal planning. One of my co-workers does this with success, but I really haven't been able to get into it. What I plan out on Sunday just doesn't translate by Thursday when I want chicken instead of fish. Instead, I've been utilizing my favorite stores apps to make lists and stick with them and trying to set an overall budget. It's a work in progress, but I'm getting better.
Step 24: Share a Financial Tip for Change."When you identify ways to reduce spending, you are being honest with yourself about your finances. Being honest with yourself and others about your finances will ensure your success." Well this blog is one big lump of honesty - the good, the bad, the ugly, it's all here.
Step 25: Document Your Desired Spending. In other words, indicate how you would like to change your spending. I actually just revamped my budget last week and set up e-mail alerts so I know when I'm at or near my budget threshold. I decreased spending in a few catagories (namely personal catagories like health/clothing).
Step 26 (for good luck): Protect Yourself by Performing Personal Financial Check-Ups. Check in on your home/auto/health/life insurance policies to make you're covered in a way that best fits your lifestyle. There's no sense in paying for stuff you're not going to use!
How is your financial literacy month shaping up? I think it's clear my goal for May needs to be an exhaustive documentation of my month's expenses! Has anyone received a good financial tip lately?
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