2 posts tagged “budget”

Lots of changes have been happening.  It's really amazing how many other things in my life are starting to settle down and fall into place now that I've decided to get my spending and debt under control.  Maybe because I feel such a sense of relief I end up creating good karma or something.

So, the additional changes I've made:

1.    Walking to work instead of taking the bus.  Saves:  $78 a month.  It's about a 20 minute walk if I go really fast.  I have a FSA account where the $ can be deducted for public transportation (last year I had the full amount deducted).  This year I dropped it to $20.  Instead of buying the monthly pass, I'm walking and saving them up and  I'll just buy tokens to use only when the weather is bad.  Otherwise, I'm hoofing it.

2.  Quit the gym.  Saves:  Okay, I did that one awhile ago.  But with all of the walking to and from work (plus the dog 2-3 times a day dog walk), I'm getting enough exercise.

3.  Dropped the dog walker services.  Saves:  about $80 a month.  I feel bad making the little guy wait at home all day, but he is paper trained and he can hold it.  So now we go for an extra long walk in the morning (45 min - 1 hr) and an extra long walk after work, and a quick one before bed.

4.  Lowered cable package.  Saves:  $60/month.

5.  Bringing my lunch to work and not eating out for dinner.  Obvious.

6.  Making my own coffee.  I slipped 2 times last week and bought coffee out, but that's a huge improvement over my daily (sometimes 2x daily) habit.  I also will pop over to ING and make a deposit because then you get a free cup!

7.  Saving electricity.  Savings:  to be determined.  I'm a big leaving-all-of-the-lights-on kind of gal.  I get kind of depressed when it's all dark in my apt.  But I'm now making an effort to turn the switch to off when not in use.  My electric bill is usually only about $30 a month.

8.  Cell phone.  I did check to see if there were any cheaper plans, and there aren't right now.  I don't go over my minutes, and I don't have a land line, so until there's a better offer out there I have no reason to switch.

9.  Ebay and Buffalo Exchange.  Raised:  over $100 so far, which has gone right to the credit card payment.  I've sold yarn, craft supplies that I don't use, knitting books I don't look at anymore, clothes I no longer wear.  Buffalo Exchange doesn't really give a good rate of return, but it's better than nothing.

10.  Loose change.  I no longer pay with coins.  Any cash I've spent (total last week was under $20) I've used bills.  The change goes into the loose change jar.  I deposited $69 last week in change!

I'm still in search of that part time job.  I'm following up on a few leads at some private firms, although I'm really not crazy about the idea of it.  I can live on my income if I just get control over my spending.

Unexpected expenses this week:

That damn dog, who is by far the most expensive "investment" I've ever made.  He ran out of his heartworm medication this month, which put me $28 in the hole.  Oh well.  It could've been a lot worse, he could have actually had heartworm, right?

Last week I happened to stumble upon this fantastic financial application, Mint.  I entered all of my data, and BAM - my debt:income ratio was right there. 

BAM.  Indeed.

I knew I was in debt from my student loans ($150,000).  I had a vague (emphasis on the "vague") idea of how much I owed on credit cards.  I guessed it was about $7,000.  I knew that I was an impulsive (and sometimes even compulsive) shopper.  More on that later.

I am 33 years old.  I have nothing left saved for retirement (more on that later, not entirely  my fault).  I am earning about $3000 a month as a public interest attorney.  My student loan payments are not $1050 a month.  I am on a 30 year repayment plan.

I do not own a car, I do now own a house.

I originally started this blog because of a bad break-up from a toxic relationship.  My motto was "the only way out is through."  My New Year's Resolution is to get out of debt.  I have cut up all of my credit cards except for 2 (which I have handed over to my parents to keep) and my debit/credit card, which is now in the freezer.  I have contacted my credit card companies for better interest rates.  My student loans were already consolidated and refinanced.  I have applied for a part-time job.

Today I downgraded my cable and opened up an ING checking account because of the great interest rate (I already have a savings there, of course there's no money in it).  BTW, if anyone is interested in opening up an ING account PLEASE email me - if I refer you I get $25.

So enough blogging about my poor choice in men (well, not entirely).  The blogging about my new debt-free life has begun.