You make money to spend money, as they say, right? Yes, and no. I’ve lived by that saying mainly because the vast majority of the money I make goes towards tuition, and associated costs. Life isn’t cheap. I work midtown and there’s this amazing bakery a stone-throw’s walk called World’s Best Bakers –from where I get my $8.14 XL Hot Chocolate and Chocolate Croissant. I know – yikes! I’ve managed not to make it a daily habit, thanks to creating an excel spreadsheet where I track and calculate my expenses…(watching your money go has a greater impact on how or whether to spend your money, believe me.)
I’ve even created one for my Bf – complete with green, white, and red, along the header. Despite my sales tactics for the idea, all I got was, “It’s a good thing to keep, don’t delete it.” What he didn’t say was, “Great idea, I make good money for my age and this will help me see where it’s all going and will stop me from seeing how much my spending habits are out the loop!”
Okay, I’ll give him some credit. He’s good with his money. More protective of it, than of me – I kid! But nonetheless, he is good with his money, he has savings, investments, and opened AND contributes to a RRSP. *I had to emphasize the ‘and’ because most people have one, but barely feed it.
I just want him to be able to save more for what he makes! I’d say about 40% of his ‘expenses’ are variable. One in particular, smoking, should be cut! Immediately!
As I digress, I actually feel better about my finances cause I’ve learned that no matter how ‘little’ I’m making now, I could possibly save more than those who make much more! It’s a mind over matter kind of thing, and despite my hang-ups of being constricted by my fixed costs, I have a few things that I’m going to do over the next year to plant my money tree:
1. Shopping- on hiatus! – sad to say, I’ve raised the bar for indulgence this summer, with the help of outlets and consignment stores.
2. Can’t spend it if you don’t have it: All my fixed expenses will take up 70% of my earnings therefore, my variable expenses will be very limited. Tough love.
3. Save a little, earn a lot: I’m going to re-open my savings account and contribute to it; using it properly, not as a savings for York U followed by a mass withdrawal-bill payment!
4. Life is good: The best things in life are free and I’m a believer. Walks on the beach, strolls in the mall (*window shopping*) and rollerblading, have become ‘free’ ways to entertain myself. If only life were what it was when we were young, everything was free. We even have to pay to laugh now! Do you know how much Russell Peter tickets are going for?!
^ In sum, I’m on Money-watch. Reason: in the post to follow.
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