After All is Said and Done…

I was at a family gathering yesterday in my hometown to celebrate my Dad, my niece and my nephew’s birthday (and of course I forgot my flip video!). They were all born in September and so this month I’m usually spending a whole bunch of money on birthday presents. I decided that I would be a little more cost conscious this year, because in years past I tended to spend a lot even if I didn’t have the money. The other great thing about this year is that I established a savings account for gifts/holidays. There isn’t a lot in there at the present moment but it will be enough to buy three birthday presents. It’s nice to be able to have money put aside for a specific thing and to not have to use my credit card (which I have not used once since Project Money started!!).

When I got to my parent’s house for the party, I warned all the birthday celebrants that their gifts were a little less than what I normally like to spend on birthdays. We all laughed and joked about what Christmas was going to be like seeing how Project Money doesn’t end until December 31st.  I said that there would be no gifts from me until January. The joke then became that we’ll be doing Christmas in January. I graciously agreed to attend two Christmas parties – one in December and another in January! As the night progressed my sister began to express her annoyance with how conscious I was being about my money and spending because of Project Money. I admit I’m probably a little over the top with my frugality but hey wouldn’t you if you were competing to win $10,000!! I mean look at all the reality tv shows and all the crazy stuff people do to win money or be on tv!! It did, however, make me think about what will happen after Project Money and what strategies will I continue to make use of and what may fall by the wayside.

The last time I met with my Project Money coach, Emily, and we sifted through my budget, I realized I have pretty much cut everything out of my budget that can possibly be cut. I have eliminated most every expense that could be considered a luxury. The only two possible expenses that could still go are my haircuts and my cat Macy!! But there’s no way I can go without getting my haircut every six weeks and I certainly can’t give up my cat – and of course she still needs to eat! So, yes, my budget and my commitment to do my best at this challenges is probably a bit extreme but come January there’s probably not a lot that I would change or do differently. I may be a bit more lax when it comes to my $10 daily allowance. I most definitely will subscribe to Netflix and/or Hulu so I can hang out on the couch and watch a movie when it’s cold and rainy. But I won’t break down and get cable again – it’s just too pricey and I’m not around enough to watch it.

Emily always says that we should build my rainy day savings up enough so that I can quit my second job. Even though I’ve come to really enjoy my part-time work, it would be nice to have my evenings and weekends back. But, overall, I really believe that I will continue working on the strategies and tips that Emily has taught me. I will try my hardest to pay the rest of my debt off shortly after Project Money ends. I will avoid, as best I can, using my credit card, and if I do, I will pay it off each month so I’m not charged any interest. I will definitely continue to save and I will put money into my separate savings accounts for all those things I want to do or purchase. I will pay cash for my things and then I will constantly work to replenish those accounts. So, even though I may be more frugal at the moment because there’s a big chunk of cash at stake, I am more committed than ever to continue on this journey until I am confident that I am as healthy as I can be financially. So, I guess my sister should get used to my behavior because not much will change in January!!

Comments

[Kristi]

Awesome job.