So, in an attempt to boost my cerebral exercise, I've dunked myself into the world of personal finance. How can I save money so that I'm a functional adult living within my exorbitant means in my exorbitant house with my car that has a rear camera so I can parallel park with absolutely no skill or finesse and my $80 tank tops to match my lycra yoga pants. What self-respecting girl in my generation doesn't secretly want all these things? We all want to be individuals; clever, interesting, artistic, all the while being healthy (hence the yoga), wealthy (you'd be surprised at the prices of tank tops these days) and maybe a little wise (hence the personal finance blogs).
I have absolutely no skill at saving money these days now that I know I have a paycheck coming in every month. But, as I spend more and more this Christmas season, I find myself wanting more and more to "complete" my life. And despite the irony, I know (deep down I KNOW) that I will never at long last become satisfied by all my worldly possessions, but I'm not ready to stop buying things. Hopefully, though, I can still get some of the things I want and prepare for the next Loma Prieta in the meantime.
Some of my 2008 New Year's Resolutions-Financial Style:
- Plan my expenses and spend what I've planned. I will stop "popping into" Barneys when I'm in Union Square just because I want to see if they still have those J Brand jeans in black. Yes, they have them. And miraculously I now fit into a size smaller than usual. I swear to God, I always fit into a size smaller precisely when I don't need a new pair of jeans and I'm halfway between one paycheck and the next. Ego meets reality.
- Contribute $9k to a Emergency Expenses Fund. I was reading how important it is to have an emergency fund that covers roughly 6 months worth of expenses. Factoring in rent, car insurance (I'm planning on selling my car sometime in the near/middle future), cell phone and baseline incidentals, I figure $9k should be good. Again, this involves convincing myself that that Marc Jacobs faux-fur-collared coat is not THAT cute.
- Set up, maintain and follow a budget in Quicken. I should probably learn the ins and outs of Quicken first so I have the slightest idea of what I'm doing, rather than just labeling my expenditures and never looking at them again.
- STOP those horrible little incidental expenses.
- When I go out to dinner with a group of friends and everyone pays in cash but me, I need to immediately put the cash in my bank account instead of carrying it around in my wallet and eventually spending it. Cash in hand is far more dangerous than credit cards in my case.
- Stop over-tipping because I feel guilty. I'm always afraid the girl behind the counter at whatever coffee shop will hate me because I don't tip $1 on my $1.30 coffee. But then I always end up putting the dollar in when she's turned around to fill up my coffee, so she doesn't even know. Shoot me.
- Cab rides are expensive. Go to convenient bars, or don't drink past the point of nighttime navigation. That could also save some money.
- NEVER go into Walgreens. Or, if I have to, have a written list and a time limit. There are 1,000 products I "need" in there. And, I always end up staring aimlessly at all the different face washes until my eyes start to blur together and I end up trying to decide between the different types of anti-wrinkle cream.
- Plan trips in advance to save on all sorts of expenses. I'm supposed to fly to Hawaii on Presidents Day weekend and I haven't bought a ticket yet, and the price only increases and I'm going to blow an entire paycheck on that trip, I can just feel it.
- Get dates to eat nice dinner without paying for it. Not a real goal, but it would kill two birds with one stone, so-to-speak.
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