So I'm trying to "plan ahead" for once and decided to create a budget for the upcoming year. I have lofty goals of being able to save around $8,000 so that when I graduate, I'll have some money to potentially
a) buy a new car
b) rent and furnish an apartment
c) pay for a wedding
just in case one or a number of those things are in my near future.
That being said, I did some number crunching and thinking about my own expenses and spending habits and came up with a budget that leaves me only around $6,000, which means that I'm already -$2,000 from my goal. Ooof.
That being said, I'm having to realize that my days of carefree spending are pretty much over. I need to seriously break some not so good (not terrible, but definitely not helpful) spending habits and start really being conscientious about saving and living within my means. Thankfully, I don't have any debt other than school loans, and thankfully, due to the generosity of my parents, even that is not too bad, but this does not excuse me from having to learn to exercise a little self-restraint and foresight to prepare for my future.
Notes to self:
* Stop being lazy and buying STARBUCKS and make your own coffee! (this could easily save $15-20 per week). With that in mind, use your "flex points" (oh how I love AR job perks!) for buying more important things than pumpkin spice lattes.
* Stop buying books. Get them from the library instead. Rachel, you are hereby banned from "just browsing" Amazon.com.
* Learn to be thrift-ier.
* Consider cheaper ways of traveling for school breaks (i.e. driving / carpooling?). Roadtrip anyone?
* I have to give up buying people stuff. This is probably going to be the hardest. I love buying gifts for people!
* No more traveling. This will also be difficult. I've been back from Israel for over a month, and just got back from a trip to Winnipeg, Canada, and I have been seriously thinking about going to Madrid for WYD 2011, or even walking the Cammino to Santiago de Compostela.... Not to mention Lourdes, Fatima, Ireland, California, Mexico City, and a few other places that I'm just itching to go see!
Any other saving tips? Please help!
I love this post :) This hit me when I joined FOCUS and I had these same realizations. My big tip is to read Total Money Makeover by Dave Ramsey. Great book and practical advice. But I think you are on the right track with your "notes to self". Most people don't pick up on those ideas themselves, so you once again prove to be the smartest gal I know! My new favorite clothes store is Clothes Mentor...thrift store but only nice brands and all less than 2 years old. Check out if there is one by you or the places you visit during the year. Making your own coffee is great, and even if you buy starbucks coffee by the pound at Walmart you are saving a lot of money. For me, buying people thing was hard to let go of. But now when I see something I try to write them a nice card saying that I was thinking of them and then telling them what I saw that might be of interest. I email my brother book suggestions all the time :) 44 cents ends up being a much thriftier way to roll! If you are looking for a roadtrip that helps save money, come to Lexington Kentucky where you have free lodging and fun people to hang out with :)
ReplyDeletePrayers & Hugs sister!
-Laura