Compromises and Rewards

Heading into the homestretch…

There are three months remaining in the Project Money competition. I like to compare the challenge to running a marathon…it’s been grueling; there have been some uphill battles; but I know the end is near and I know that I’ll make it across the finish line.

Just as in a marathon, you have to change your pace as you enter into the homestretch (okay not that I’ve ever run a marathon but I am a runner!!). Now is the time to change it up a little bit and prepare for the sprint to the finish line. So, I’ve been contemplating what my strategy will be for the next three months. There are some things that are realistic (like working more hours at my part-time job to bring in more income) and some that are not (stop eating or buying gas!!).

As I was pondering my direction, I couldn’t help but reflect upon the past several months and especially those things that I’ve really missed since June 1st. So, in my blog for this week, I thought I would share all of those things that I’ve compromised. At the same time, I’ve gained a tremendous amount, so I have to include the things I’ve acquired because of my involvement with Project Money. So, as the saying goes, you win some, you lose some. Here goes….

What I miss…

• Good beer - now don’t get me wrong, I love Pabst Blue Ribbon!!! But I do miss going out and getting a really good pint of beer. I always go for the cheapest and it never fails, the cheapest is most often PBR!!!
• Not constantly thinking about spending.
• New clothes.
• Not being confined to a budget.
• Impulse buying.
• Free time – cause I’m always working.
• Watching stupid cable shows – I cut out cable so I didn’t have that expense every month.
• Going out for Sunday morning breakfast – trying to stay within my $10 daily limit, I’ve attempted to cut out almost all eating out.
• Buying whatever I want at the grocery store – in order to stay within my budgeted amount, my strategy has been to buy whatever is on sale and/or the cheapest item.

What I’ve gained…

• A sense of security – I love knowing that I have money going towards my retirement. It doesn’t make me as worried about what I’m going to do when I retire.
• A budget – I’ve never really had a realistic budget that actually works!!
• Money that’s designated for specific things (maybe I should start a good beer savings account!!)
• A rainy day savings account - that actually has money in it!
• A great financial coach – I couldn’t do it without her!
• My very own cardboard cutouts – or as my friends call them “Flat Jen!”
• Every cent I own – along with my one loan – all consolidated at Summit Credit Union (love them!!)
• The tools to play the financial game on my behalf.

I’m sure there are others but these are the main ones that come to mind as I sit here and write. So here’s the challenge, I think, for me and the others – what will we continue to work on after December 31st? And what old ways will we fall back into?

I’ve learned a tremendous amount about money management and those lessons and tips will forever be with me. I’m definitely committed to reaching the goals Emily and I have established over the last several months. I may have a hard time continuing with the $10 daily allowance, but I’ll definitely think twice when I spend on luxurious items. I know that I’ll continue to save for big items – like a VW Camper – but I may not be as strict about not buying new clothes or other things because $10,000 is no longer on the line!

I also know that what I miss in my list above are things that are clearly attainable and I can have them all; but now with the financial advice and tips, I can be smarter about getting them. So I can enjoy life, be impulsive, have fun, drink good beer, and save for the future! 

 

Comments

[Kristi]

Nice job saving money.

[Cheryl T.]

I ran into your Coach yesterday. She is so proud of you - just beaming!

[Jennifer]

Thanks Cheryl!! Tell her to get busy on making me a winner:)