Good morning readers! I hope everybody had a happy Thanksgiving. We had a hectic holiday since we had family from out of town, and then went to visit family out of town, as well. It was fun, and have some great memories! I really can’t believe Christmas is around the corner. With our vacation coming up, buying gifts, hosting family, visiting family, and god knows what else, money is and is going to be pretty tight. I honestly dread this phase of our lives where we are building up cash in the bank, but it doesn’t feel like we are making much progress. One of the reasons we are not making much progress is because we are young and just want to enjoy ourselves.
- Xbox 360 bundle (Cost $225) plus extra batteries
- Xbox controller 2 and Halo 4 ( Cost $105)
- Xbox Madden 2013 (Cost $27)
- Antonio Melani Purse (Cost $45)
Sadly, this mentality does not bode well with our pockets.
I want to see I am an awesome PF blogger and have my stuff together. I manage my household’s finances with an iron fist, and we are always saving money. The truth is I’m an awful PF blogger. Last time I kept up with my budget was in June! In June, I gave up. Yes, I gave up. We were bleeding so much money, I just couldn’t keep track of it all. I still can’t. Honestly, I’m not sure if I’m going to have enough time or motivation to track it completely in December. I want to but….ahhh…I’m a little lazy and money is stressing me out right now.
Another reason, we are having such trouble controlling our spending is because we are young and just really want to enjoy ourselves. Not to mention everybody thinks we have money, and sort of expects us to spend like we have money. I’m not going to lie, it has been pretty nice not having to stress whether our next paycheck is going to be enough to pay rent. But maybe we have gotten a little to lenient? No maybe, we have. So what do we have to do to spend less? Eat out less, and cook at home. Convince my husband to stop buying energy drinks at the gas station, and finally ween him out of nicotine lozenges. I need to stop buying clothes, shoes, and/or purses. I need to shop groceries better. Sigh it sounds easier than it actually is.
If you are young and just starting out in the workforce, be aware that most of your paycheck will disappear with taxes, social security, medicaid, 401k, health insurance, and FSA contribution. Not to mention life will eat your paycheck with rent, utilities, sales tax, food, gas, snacks at the gas station, and other random stuff. Just saying. BE PREPARED!
There are a couple things we are trying to do (mostly me) to control our finances:
- Pay Ourselves First (Transferring money into savings account before it’s spent)
- Eat at home more, plan our meals, eat healthier.
- Track spending in spreadsheet
- Consider writing net worth updates to stay accountable
How’s your spending?