Getting to Know Me

Money Management 101

So it’s another late night and I can’t sleep. I checked my email and Borders sent me a 33% off one item coupon (code BSL7108N). I am trying to save money for a new car but it seems that as soon as I get a lump sum of money saved, my favorite retailers have a sale. My hand is on a virtual trigger and I’m close to pushing the complete order button.

As long as I can remember, I have always had a love/hate relationship with money. This is due to the fact that I was never taught how to manage my personal finances. I was one of those students who graduated from college with four maxed out credit cards, student loan debt and no clue what it was doing to my financial future. I think back to all the refund checks I received in college and how I spent it foolishly on things that no longer exist.

I sincerely want to change.

The first step is admitting you have a problem right? Well I recognize the problem but it’s so hard to actually change those bad habits. These bad habits are ingrained in my being and people who still live above their means and continually make impetuous decisions surround me. I try to share my newfound insight but no one listens. Probably because they are twice my age and if I’m struggling with change they have no chance. I’m surrounded by examples of what I don’t want out of life. This serves as motivation until they leave my presence than I’m on my own again surfing the net for deals and steals.

I managed to save enough for a decent sized emergency fund but Victoria’s Secret had their semi-annual sale. What’s a girl to do? They only do it twice a year! I have a budget spreadsheet where I decide where each dollar will be spent but it proves ineffective when I edit it to match where I’ve actually spent money and the result no longer shows my intentions. I really need help. (I’m begging now.)

Something has to give. Focusing on my long-term goal isn’t as effective as it was in the past. I tell myself, “It’s only $30. What’s $30?” ignoring the fact that $30 adds up and could be my emergency fund in as little as a month. At this exact moment, I have items in shopping carts and wish lists at four different retail locations with my debit card information and address already entered. After this self-reflection, I’m ready to dim the screen and back away from the MacBook Pro. I can’t be trusted with this weapon of mass destruction.

Do you have any tips on successfully saving money? Budgeting? Any books I should read? People I should follow on twitter? (<— Not related but it never hurts to ask)

Bad habits are like a comfortable bed, easy to get into, but hard to get out of. ~Unknown Author

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2 thoughts on “Money Management 101

  1. I am in the same boat, except that I have Brandon to help me keep my money on track. A website that I like to look at occasionally is http://www.mint.com. It is a free personal finance software, money manager, and budget planner website. You should check it out!

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