I’m pretty bad at saving money. I’m just always tempted to splurge and spend it on something.
While in the last 2 years I have saved money, it’s not nearly as much as I wanted to put away. Since the apartment hunt didn’t work out and I haven’t seen anything worth responding to on craigslist I decided to do a little experiment.
My goal is to put away the total amount that my rent would have been if I had moved. That’s about $800 dollars a month. It will be a good test to see how good I am at budgeting, and if I really can move out and still go out and have fun. Now I know in reality moving out would cost way more than $800. I didn’t factor in any bills or food. I just wanted to do a solid number.
Bonus, if I am able to do this I will have put away a lot more money. This can be used as a cushion if I do move out, or as a down payment on a car since mine seems to be slowly dying on me. It would be a used car, but I am tired of the one I’m driving now. I’m convinced it’s bad luck. Seriously, I’ve had so many problems with it it’s unbelievable. Anyway more on my car later…
Or even better, I can use SOME of the money I saved and buy myself a little treat! I have to start thinking of something I can do to treat myself if I do this. Any suggestions??
The only problem is I’m so bad at resisting temptation. Especially at work, when I get bored I shop online. I’m constantly buying clothes, books and makeup online! It’s bad. While I still plan on going out with friends and buying stuff, it won’t nearly be as much as I’m used to doing. This will be a HUGE test for me. One I’m determined to stick with!
I’m starting with this month February. My goal is to save $4000 by the end of June!! I hope I can do this. I’ve been pretty good at putting some money away. But this is really kicking it up.
Wish me luck!
4 comments:
Give the money to your mom and have her hold it for you. Or start an account without ATM/Debit car access. When I have been saving for something I have given the money to my dad to hold. He just put it in an envelope in his night stand draw, but that was all the control I needed. On my own I'm not a great saver. And artificial deadlines or rules don't work for me.
I don't have the personality to save for a rainy day.
Ooh, how good to read. I was just lamenting my horrible habit of spending way too much money on clothes I don't need, that I never wear, because I'm saving them for when I have a Real Job. It's bad.
What's working for me is an automatic transfer from my checking to savings account. That way I don't see the money and don't have to go through the process of transferring it myself. I don't have an ATM card or anything for my savings account, so the only way to withdraw money is to physically go inside the location.
Sounds like a really good plan. I imagine it will be hard to stay disciplined and stick to it. But you can do it! Auto transfer to savings is a good idea.
i've been trying to do the same thing this year to little avail. i need to go to the bank so i can transfer money online because it seems i can never get to the bank so the longer the money is in my checking, it gets spent.
good luck. my goal is another 5,000 by june.
Post a Comment