Back on the financial wagon.

[rebeccmeister]

Well, this summer has been a bit crazy in financial terms, what with moving to a more expensive home and conferences and travel, so I managed to get a bit behind in tracking my spending. This is a bit disappointing because it usually means that I am close to reverting to old bad habits like spending money without really considering where it is going, and using up all of the money I have managed to save so far this year.

However, one thing has changed: my approach to dealing with these inevitable backslides. It used to be that when I started getting overwhelmed, I would just give up altogether and spend until my bank account said zero. But I came to realize something incredibly simple: I cannot take back what I have already spent, so I might as well own up to my spending behavior. And the longer I wait, the more complicated/frustrating it becomes to own up. Interestingly, all of the guilt I feel about getting that extra latte at 3 Roots or whatever tends to dissipate when I keep track of it. I do believe in enjoying things that make me happy and align with my values, after all (y'know, like taking good care of my bike and supporting local businesses). And it's probably because if I try to keep track in my head, I'm left wondering, "So, is that the twelve-hundredth latte I've had this week? I'm spending sooo much money on coffee!" without really *knowing* if that's true.

So I managed to update my August expenses and went through and updated my list of Things to Acquire, and suddenly I feel much better about life. I just find it so much easier to prioritize my spending when I document it on paper instead of trying to keep track of all of it in my head (what can I say--I have a small head). With the above expenses, I had to dip into some of my savings and now have to figure out how to repay myself, which is going to be challenging. But step 1 is to track things on paper; and hopefully, as in the past, the rest will follow.

Comments

[langerdan.livejournal.com]

Fair dues to you for putting it on paper and not burying your head in the sand. As you said it's easy to give up and spend it all when things get on top of you but having a plan, writing it down and more importantly sticking to it lets you have that extra latte or 3.

I've been promising to do the same thing all weekend but of course i didn't so you've now inspired me to get going. As soon as i've finished this coffee of course!

[rebeccmeister.livejournal.com]

I'm happy to be your inspiration! I have also learned that it's really, really important to discuss finances. In American culture, there's an odd taboo against discussing finances, which probably contributes to Americans' poor spending and saving habits. Every once and a while, I try to track down an article or something else inspiring to keep me going as well.

[crume.livejournal.com]

Do you read lifehacker.com or 43folders.com?

[rebeccmeister.livejournal.com]

I do read 43folders.com--usually when I'm procrastinating at work, actually. I can't say I've put many of their methods to work, but the site does at least provide inspiration. I'm more of a paper-based organizer, though.

But have you read The Sloth Ethic?

[crume.livejournal.com]

I haven't, but I'm checking them out now.