Tuesday, July 12, 2011

New Money

On July 8th I started my two month long money saving experiment.
I am super nervous about it. The plan is to save exactly half of what I make.
While I have always lived below or within my means and have a very modest existing savings plan in place, I can be pretty frivolous in a "steak today, Ramen noodles tomorrow" kind of way.

This new plan is going to require some serious discipline. The kind of discipline that only comes in spurts which is why I picked the two month time frame.

I have divided my monthly earnig into three buckets: living expenses, spend plan and savings. My spend plan is the money I have allocated after my living expenses and savings are allocated for things like entertainment, personal items/clothing, etc.

My biggest challenge will be to spend less money on food. I will have to force myself to eat and drink at home more and to temper my expensive exotic health food habit. I will have to sacrafice impulse buys, second and third drinks at happy hour and $14.00 packages of Gogi
berries.

I promise to post my progress.

Thought of the Day: You just have to make it happen.

2 comments:

  1. You can do it girl! I often think that it's good to have a reward in your budget even if that reward is a delicious coffee beverage.

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  2. Good Idea!! I will think of something yummy! Maybe my favorite happy hour :)

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