Its been less than a month of my Spending Diet and let me tell you. NOT AN EASY FEAT!! Although I have not had the most successful 1st month, I'm not backing down yet. A few things happened this month and I've learned some lessons along they way.
1. While sporadic, last minute, on a whim, fly by the seat of your pants adventures are fun, they lead to unprepared, unmanaged, unexpected spending.
2. Not allowing my budget to include entertainment money or a little mad money, can result in me REALLY getting mad. Which can also lead to unmanaged spending if I'm not careful.
3. I need boundaries, rules, limitations, etc...which means allowing for a little money to be spent however I see fit. However, this whole process has forced me to adjust and balance how, when and where I spend our money!
Going back to #1...On a whim my friend and I decided to just skip town and get away. Fun right?!?! Well I hadn't budgeted for gas, meals, shopping, tolls, etc. I went shopping and definitely made some unplanned purchases. Although even during those purchases I was making sure I was buying things that would serve a purpose and not be more wasted space.
#2 What defines Entertainment/Mad money? Money that does not interfere with regular day to day living, bills, or other necessary expenses. Someone had said to me that I should choose how many times I want to eat out or just allowing myself to buy certain things every month. I really think the number I need to come up with just needs to be an actual dollar amount. I really think the number I should be coming up with is an actual dollar amount. This will eliminate over spending and force some self control. I'll have to save money from previous months to buy more more expensive things or just not eat out at all.
#3 Well, having boundaries, rules and limitations just means I will always be prepared. I won't have to guess about spending or not spending. All purchases I make now are well thought out & managed well. I even sell things we have around the home to fund the things we want or need.
Sunday, January 27, 2013
Managing our Finances and our Needs...wants!!
Before Christmas I was sitting and talking with a client of mine, while her color was processing. We were just chatting about life and plans for the holidays. I asked her what she was getting her kids for Christmas and she said she was surprising her girls with room make-overs! I had told her I kinda wanted to do the same thing with Lainey, but since it was out of my budget and I had my Spending Diet quickly approaching, I would have to put it on the back burner till a used bed came our way. I eventually asked her if she had any plans for the girls old beds and she said no, that she'd like to see someone be blessed with them rather than throwing them away...So she offered us a bed!! Lainey and I were given a twin bed shortly after Christmas and I was so excited to get Lainey out of my bed!
Then I had to decide if having a Bed Frame was a need or a want...Well Lainey has a bed to sleep on and beds do not require a frame in order for a mattress to be functional...Even though raising her bed off the floor would allow for storage space, I had to categorize the bed frame as a "WANT"...which definitely meant I was NOT buying a bed frame new!! So I posted my ISO(in search of) all over various groups on Facebook to see if anyone was getting rid of one. It wasn't long after I posted the ISO, that my friend Hollie messaged me to let me know she had a fairly new twin bed with a frame for sale, for $40, but it was a package deal. I knew if I wanted this bed frame, I would be getting the mattress too, I'd have to sell something to fund the new bed and get rid of the other bed.
I pondered selling the bed we had just gotten but wasn't even sure anyone would want it. I did some research on bed frames and found that metal frames can be bought new for $40. I had now come to a few conclusions...Hollie's 3 piece twin set was $40, I could just spend $40 and just buy a frame, I could sell the used bed, I could just scratch the whole thing and let Lainey sleep in my bed(NO!!)....grrrr it was all beginning to seem like a huge hassle and lots of moving around furniture.
I finally decided to try selling the mattress we were given on Facebook, but I had a feeling I'd probably only get about $30 for it. I knew I wanted to try not to spend any money on Hollie's bed at all, so on a limb I asked if she would consider taking $30 for her set and she said yes...So it was on...I posted the used bed on Facebook and in less than 2 days, it left our home for $30. Just enough to fund the newer bed and BED FRAME!! I felt a little bad for selling the bed we were given just a couple of weeks ago, but I saw a benefit to having a newer bed over the 4-5year old bed we inherited. The bed we were given still blessed us even though we don't have it anymore. Lainey's new bed will last longer and now she has a new hiding place and storage space!
I have come to another conclusion, If I manage our finances and our resources in a smart way, God finds ways to bless and rewards us. Thanking God for providing us with Friends and resources to fund the things we need and even the things we want!!
P.S. I also sold other miscellaneous things around our home to fund Lainey's bed skirt, and bed risers. Some things are hard to come by used in a timely fashion, but I spent less than what I profited from! Still a win!!
Then I had to decide if having a Bed Frame was a need or a want...Well Lainey has a bed to sleep on and beds do not require a frame in order for a mattress to be functional...Even though raising her bed off the floor would allow for storage space, I had to categorize the bed frame as a "WANT"...which definitely meant I was NOT buying a bed frame new!! So I posted my ISO(in search of) all over various groups on Facebook to see if anyone was getting rid of one. It wasn't long after I posted the ISO, that my friend Hollie messaged me to let me know she had a fairly new twin bed with a frame for sale, for $40, but it was a package deal. I knew if I wanted this bed frame, I would be getting the mattress too, I'd have to sell something to fund the new bed and get rid of the other bed.
I pondered selling the bed we had just gotten but wasn't even sure anyone would want it. I did some research on bed frames and found that metal frames can be bought new for $40. I had now come to a few conclusions...Hollie's 3 piece twin set was $40, I could just spend $40 and just buy a frame, I could sell the used bed, I could just scratch the whole thing and let Lainey sleep in my bed(NO!!)....grrrr it was all beginning to seem like a huge hassle and lots of moving around furniture.
I finally decided to try selling the mattress we were given on Facebook, but I had a feeling I'd probably only get about $30 for it. I knew I wanted to try not to spend any money on Hollie's bed at all, so on a limb I asked if she would consider taking $30 for her set and she said yes...So it was on...I posted the used bed on Facebook and in less than 2 days, it left our home for $30. Just enough to fund the newer bed and BED FRAME!! I felt a little bad for selling the bed we were given just a couple of weeks ago, but I saw a benefit to having a newer bed over the 4-5year old bed we inherited. The bed we were given still blessed us even though we don't have it anymore. Lainey's new bed will last longer and now she has a new hiding place and storage space!
I have come to another conclusion, If I manage our finances and our resources in a smart way, God finds ways to bless and rewards us. Thanking God for providing us with Friends and resources to fund the things we need and even the things we want!!
P.S. I also sold other miscellaneous things around our home to fund Lainey's bed skirt, and bed risers. Some things are hard to come by used in a timely fashion, but I spent less than what I profited from! Still a win!!
Thursday, January 10, 2013
Organization=Success
I have not read any other blogs, books, magazines, etc. about how to be successful when it comes to being on a spending diet. However, my observation over the course of 2012 is, if I can't see it, can't reach it, forgot about it, hid it, or lost it, I'm buying another ___________!!(fill in the blank!) Its very easy to keep buying more of what you don't need, when you can't see the things you already have. I needed to get my bathroom reorganized and assess what I had accumulated over the past year. I HAD NO IDEA WHAT WAS REALLY IN THERE!!
I wish I had taken a before picture!! Not a pretty site. You couldn't even see the counter because it was covered with stuff!! I use to keep in my tall cabinet, all of my extra overflow of soaps, candles, toiletries, etc. all the way at the top. Even my mom, who originally helped me unpack and get organized when I moved in, thought it was best to keep them up there. Things you don't use should be put out of reach most of the time, but for someone like me, bad idea. Instead I moved all my extra linens to the top, moved the towels down a shelf and now I had space right at eye level to see everything. I can now keep track of what we have and what we need. I think its important in every room to utilize your space effectively so you can be efficient in how you are using things.
Now everything is sorted and organized. Pretty amazing huh?!?! I didn't spend a dime on the items in those bins. Those were all mailbox freebies or store freebies with coupons! We are set for at least a year!! No shampoo, conditioner, toothpaste, toothbrushes, floss, lotion, soap, deodorant, wipes, feminine products, or razors...I think that's everything. You'd be surprised how many companies just giveaway free stuff on an ongoing basis!! I LOVE going to the mailbox. There is always something FREE for us waiting in there. So I guess in some areas this spending diet won't be so bad!!
2013 Resolution VS. Goal
Resolution-Resolve-fix
Something that is resolved, made a resolution to mend my ways.
VS.
Goal-target-intention-purpose
The result or achievement toward which effort is directed, aim.
To me one of these sounds like a change that happens quickly versus a change that happens gradually. I don't know about you, but I didn't decide overnight to be a compulsive spender, sale shopper, or a bargain buyer...so I'm pretty sure this is going to be a gradual change for me rather then something that I can just snap my fingers to make go away. Besides, goals are more ongoing and change as you progress. Anytime I have made a resolution to change something and that didn't happen, I felt like a failure. I think goals have a away of keeping failure at a comfortable distance and will give me the room I need to be successful!!
SO...What's my 2013 GOAL?!?!
1. To get my life more aligned with how God desires it to be. Its important that I establish time set aside for just me and HIM!
2. A SPENDING DIET-To not spend any money on any NEW Non-necessity things.PERIOD!!(this includes eating out) Necessities can be purchased once they are completely depleted.(EVEN IF ITS THE MOST AMAZING CLEARANCE EVER! Unless its free!) Clothes can be bought only on an absolute needed basis, but not brand new!!(except for underwear, which I'm pretty sure I'm not running out of anytime soon!!) Its time for me to use what I already have!
3. Gifts CANNOT be purchased new!! This is my year to create and get back to being crafty. Besides, handmade gifts take way more thought and heart to generate than a trip to a store.
4. To enjoy the things we already have and purge, donate or sell the things we don't need.
5. Staying organized....I call it a controlled mess, others call it clutter, my parents call it crap!! Its time to tidy up and set a better example for my daughter, who even at 2 is picking up my bad habits!!
6. To blog about my year.
7. Live life purposefully and to choose JOY!!
If you don't think this sounds difficult, I can tell you after only 1 week in it has been a white knuckle fight at times to control the urge to want to buy things. This IS hard for me and even in just 10 days I haven't had a perfect track record. I've decided to blog about my journey for a few reasons...I know I need the accountability from my friends and family and also I want to have a record or our year...But bear with me...I'm not a writer. I'm a procrastinator by every definition...yet another reason why I chose goals not resolutions!! So send me encouragement along the way and pray for me!
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