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Thursday, October 05, 2006

I'm taking control of my financial future. With all that's happened in the past year, and knowing I'm moving upward and onward in a few months (new apartment, new section of town, determined to get my FICO in check), I'm adapting a new aggressive spending/saving strategy. (Yes I watched Big Spender on A&E and don't want that guy on my doorstep). I've gotten rather "lax" lately and I'm putting down the stiletto. See, as of February 1st, I need to find a new apartment, have the Grammys on February 7th AND somewhere in the holidays/chaos, I need to pack, streamline and declutter ALL parts of my life.

I'm:

• Cutting down on the spending. Yes, I'm still loving my Starbucks, but for my Barnes & Noble magazine runs, but I have to need, want and HAVE to have.
• Streamlining my closet. Anything that I don't love, adore, and am committed to rockin' will either go on Ebay, charity or to the garbajjjeee. That includes the clothing that is falling off me. When it comes to new clothes, the quality is key - not necessarily the quantity. I prefer to have something that will last for some time.
• Cooking at home. What's the use of having new pretty pots if I don't use them? Not to mention the plates I had to have at Target. Those plates are not for holding "Taco Bell" or that mess. I can eat out once or twice a week (including lunch at work). The rest - this wench is cookin'.
• Taking control of the utilities (Ummm.. Hello - electric bill this MONTH was $141.00. The cat does NOT need air conditioning and the lights need to be shut off - doing laundry for just a couple clothes - nope - ain't gonna happen and I'm pulling the plugs on a bunch of shiate tonight. Energy saving control on the dryer is fabulous and must be used.)
• Phone bill - so gone. Definitely gone. Vonage is getting put into place THIS WEEK.
• Cell Phone Bill - well that's a given expense - just making sure that there are no "extras", ya know. I don't necessarily need new ringtones - I already have JZ's new track on there.
• Paying off the credit cards. I'm aggressively starting to pay down the balances. I'm using some of the savings to send those balances spiraling downward. It's starting to panic one bank where they are apologizing profusely for hiking my rate and "jumping to conclusions" without being more informed about my credit report issues.
• Fighting the forever long battle with the Credit Reporting Agencies. What lazy *#!@*, ya know. They need to check their information. Also, I've learned that when you dispute, it does lower your score a bit, but considering that a lazy azz credit bureau listed my FATHER as my SPOUSE - that mess needed to be corrected, and quick.
• Increasing my ING balance, whereby building my emergency fund
• Decluttering the house (again, what I don't need, love, have to have or has serious sentimental value - EBAY, charity or garbajjjjjjjjeee.)
• Putting off the Annual Lys birthday travels with Meowmix til 2007 and doing one big HURRAH in May. Plus - I'm 35. I'm trying to get old quietly ;)

How am I doing all of the above?

• I'm taking about 7 bux weekly out of my bank (a dollar a day), plus another 31 dollars a month and putting that in ING.
• I'm also putting regular transfers to the tune of $200 a month in ING AND about $50 a month in my standard bank savings account.
• Also, I've committed to putting $60 bux or so a month in Sharebuilder.
• I've got the 401(k) on overdrive, using my FlexSpend accounts for medical crap (and lowering my taxable income).
• Any money I've earned from EBay, PayPerPost, Ebates, FatWallet etc. goes STRAIGHT to ING. Do not stop. Do Not Pass Go. Do Not Get a Get Out Of Jail Free Card.
• Holiday Bonus & money generated from not using up all alloted sick days - money straight to the bank.
• Raise - also goes into the bank - I need to maintain focus on my budget.

That's over $360 a month that I'm committing to saving. That's about 6 pairs of shoes from Nine West. Or, in my mindset now, 1/5 of the payment towards my new living room set.
And when it's done, I'll have a shiny new apartment, an emergency fund, a new living room set, a fabulous (yet economical - if THAT is possible) trip to LA and the Grammys (the tix prices are outrageous) AND I might, just might, treat myself to a pair of shoes.

Keep your fingers crossed.

Labels: Cash Back

Posted by Lys :: 5:38 PM :: 1 comments

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