Posts tagged Debt

Saving Money

I don’t really follow Suze Orman, but I think her new advice is good advice. Now is definitely the time to start saving as much as you can, and only make the minimum payments on debt. With all the layoffs and companys that have closed, it’s scary not to have a well funded Emergency Fund. I only make the basic payments on my debt now. The rest goes to savings. I also just consolidated my student loans again. I had consolidated my original student loans when I was in college the first time. I hadn’t done anything with the new loans I had when I started school the second time. Through the consolidation, I will save an extra $40 a month. My payment is changing from $187.28 to $141.61. This is a very good thing for me.

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Spending Report 11-30to12-7

Clothing – $19.38

Accessories – $23.50

Personal Hygiene – $7.90

Pets – $39.28

Dining out – $31.62

Soda – $7.35

Entertainment – $47.31

Fuel – $ 24.11

Office supplies – $23.83

Debt – $372.72

Cell phone – $167.62

Total – $764.63

No Spend Days – 2 (11/29 and 12/4)

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Tempting Emails

J. Money over at Bugets are Sexy, wrote an interesting post yesterday. Although I can happily say that I’ve never spent $40.00 on “Bling Water,” I’ve definitely had my fair share of emails trying to get me to part with my dear sweet money. One in fact just happened today. My brother and I have a cell phone family share plan. He received an email letting us know that we could renew our contract and upgrade our phones as a “holiday special.” This sent my brother into a frenzy. He’s been wanting a new cell phone for ages now. Sadly, he’s just like me. We LOVE technology, and we love the better, faster, smarter, easier cell phones. Since I’m the primary accountholder, I have to go be the one to actually renew our contract. At first, I had no intention of getting a new phone. I haven’t had my PDA for all that long; though it is an outdated version. Then my brother’s excited frenzy started to shake my money-saving-debt-paying resolve, and I began to cave. I have been saving my coins, dollars, and any unexpected money in a wooden bank. This money started to look like the money I would use to get a new phone. So on our way we went to the local store; money in hand….

Luckily dear readers, my story has a happy ending. It turns out that the customer service representative at the store could not find the email that was sent to us about upgrading our phones. Since he couldn’t find the email, he would not be able to allow us to upgrade early. So we walked out of the store with no new phones and no new contract!!! I was ecstatic! Although my no-spending was all pure luck, it was no-spending just the same. I can happily say temptation avoided! And instead of spending my money on something I didn’t need, I ended up putting the money towards my debt. Yay for me!

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Weekly Spending Report

Nov 8th – Nov 14th

Fuel – $50.10

Groceries – $143.07

Pet Items – $9.62

Utilities/Water – $173.48

Dining Out – $15.49

Gym Membership – $64.20

Newspaper Subscription – $5.42

Credit Card Debt – $22.35

Student Loans – $85.00

                                                   

Total = $568.70

I went crazy at the grocery store. There’s no way I should have spent nearly $150!! That’s just unacceptable.

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Finding Ways To Save

I was reading an article from earlier this week, Stashing Your Cash on Yahoo Finance. The article’s author, Brett Arends, makes a good point in my opinion. I may not be as frightened by the market as he is, but I do think it’s important to stop wasting money & start stashing some away. Today, I took the time to cancel a few things that I absolutely didn’t need to be spending money one. One them being Ringback Tones. Who cares if my phone plays music when someone calls me or if it just rings? I don’t call my own phone so it’s not like I get some kind of enjoyment out of it. That’s $0.99 a month I’m wasting. Although that may not seem like much, it definitely can add up. Another thing I’ve decided to get rid of is the data package on my cell phone. Do I really need to spend $35.99 a month so I can check my email from my phone? Not really. That’s why I pay for internet at home. So I’ll be cancelling that as well. Another item I’ve gotten rid of is a credit score tracker. I was spending $7.99 a month for someone else to keep track of my credit score. I don’t need to do that. I can receive a free credit report from each of the three credit buearus once a year for free. Add just those three things up & I spent $44.97 a month on things I really don’t need. How crazy! That’s money I could be putting towards my debt or saving in my emergency fund. Next month, since my membership should be up for the year, I plan on cancelling my gym membership. I don’t use it nearly as often as I should. Plus when the weather starts to get bad, I won’t want to risk my life trying to get to the gym. That’s another $85.00 a month for me, my mom & sister. All in all, that’s almost $140 I waste on things that aren’t important! Holy cow!! I really need to get my prorities straightened out & quit spending.

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Yay For Money!

Last night, while checking the mail, I was happy surprised to receive a $70.00 visa giftcard from recycling my cell phone. I was psyched!!! It only took 2 months. Instead of setting money aside from my paycheck for fuel, I’ll use part of the gift card & then the rest will go towards paying extra on my credit card debt. Soon that gets paid off, the better. Other than the gift card, nothing special came in the mail yesterday. Maybe there will be more surprises in the mail today.

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