June Spending

Once again I spent more than my budget. The primary culprit was the pet category and groceries. I spent less on allowance but the slack was tekn up in other areas of my budget.

Annual performance reviews

It is that time again at work and for the past several years I have dreaded it. Maye because I know I am not working up to my potential. Due to the downturn in the economy among other things, I am not expecting to receive a bonus this year. Last year I got a $7,000 bonus but I have prepared myself to not get one this year, although I could use it.

I have also been giving more thought to changing jobs. The idea really scares me but maybe it is time to move on. Anyway, it is just a thought.

A day of no spending

I am happy to report that yesterday and the day before I did not spend one dime.  I need more no spend days.  Today I did go to the pet store and get food, cat litter, and a new bed for one of my cats so I spent about $42.  

One Year Blog Anniversary

Last Sunday, June 29th was the one year anniversary of my blog. In the past year I have learned much about my financial habits. I mostly realized that I have a harder time NOT spending money than I thought I did. As you can see above, I have only managed to add a measly $907 to my emergency cash funds in 12 months. That is a real eye opener.

My net worth did increase more than $21,000 but that was mainly due to the paydown of debt. My assets increased but the increase was tempered by the downturn in the stock market.

This is just another reminder that I need to buckle down and SAVE!!!

I have enjoyed blogging this past year. My original goal was to blog while I was paying down debt and now that I have done that I have paid my credit debt down I plan to keep blogging at least until I get $10,000 in my emergency fund. I project that it will be in the first half of next year before that happens though. Even then I will probably keep blogging along to hold myself accountable for my financial actions.

To those of you who may enjoy reading about my good decisions and bad decisions, please feel free to comment whenever you like.

What about personal accountability?

I am constantly amazed by the stories of people who get themselves into incredible amounts of debt but blame the credit card companies for making it too easy. That is like blaming McDonald's because you are overweight.

There is an article in today's USA Today that demonstrates my point. Yes, people were granted more credit but just like the 400 lb man driving past the fast food restaurant...he doesn't have to stop and eat.

See the excerpt below.

"Kenna and Richard Baker of Des Moines say that as their home's value rose, they were barraged with offers for home equity loans and credit cards. They opened up new credit cards.
They also refinanced their mortgage twice and withdrew cash to pay off existing card bills and make home improvements.
But as the economy weakened and Richard's pay as a delivery driver fell, they used their cards again for necessities. "We had to pay the gas bill on cards one month or we'd get cut off," says Kenna Baker, 44.
Today, the Bakers owe $30,000 on credit cards and $105,000 on a home worth only $63,000. They blame themselves but also say lenders share responsibility for "making it so easy" to borrow."

My Upromise account update

I joined the Upromise program in April 2007 with the hopes of helping to pay down my student loan. In the 14 months since joining I have earned $10.77 with another $3.00 not yet posted. I am earning less than $1 per month but I get that is better than nothing.

I do not use the Upromise branded credit card and that appears to be a way to accumuluate a lot more in an account. Hopefully within the next year some of my savings will transfer to my loan account.

A weekend of spending out of control

This weekend I felt like I had no control over my spending. It was my onw fault really and I need to learn from it.

The problem started on Friday morning when I decided that I "needed" to buy 2 new pairs of jeans because they were half-price at $29.50.

Later that day I bought a $149 subscription for the local Broadway series. Admittedly, the $149 covers 6 shows over the next year and will get me in to shows for less than $25 a ticket. Maybe that was not such a bad purchase.

Friday night my girlfriend treated me to a concert at which I purchased a bottle of wine and two bottles of water. In retrospect, I could have done without the wine.

On Saturday, we used gift cards to to get into see the movie Ironman and then I felt I "needed" a soda and popcorn for another $10. I could have done without them. We then went to the mall where I spent $30 on a case for my iPod. I didn't really need it but I may protect it from damage. After the mall we went over to a friends house and I brought side items for $5. The $5 in side items were not an issue because I did not have to purchase my dinner.

On Sunday I had lunch at a local eatery for $9. I guess that is not a problem either as I had just been on a long bike ride and was 20 miles from home.

As I write this post I see that I should have saved the $22 from the concert and the $10 from the movies, and the $30 iPod case. The jeans will last me for several years and I really did get a good deal on them. $62 of questionable spending. I need to get these kinds of spending leaks under better control. Feeling bad about the spending is a good sign to me though because there was a time in my life when I would not have thought twice about it.