Progress and Setbacks

iVillage Member
Registered: 03-27-2003
Progress and Setbacks
3
Thu, 02-03-2005 - 9:57am

This week I tried to make an effort to not go out and eat. It went pretty well until today when I forgot my lunch at home. I actually thought about taking it out of the freezer and sitting it next to my purse but I did not and now I have to go buy something. I really wanted to see how long I could go without eating out....well it did not last long.

I also have another bad habit that is just hard to break....I get paid every other Friday so that Friday I just start spending money like I have an unlimited bank account. Last Friday I spent almost $100.00 on items that I did not need but wanted. It is like I cannot contain myself.

You would think that I could exercise some self control. I am not really sure how to handle this situation.

Pat

iVillage Member
Registered: 02-19-2004
Thu, 02-03-2005 - 10:15am

I have gotten pretty good the last 7 months or so, but even still I sometimes mess up and overspend. Here is what I do. I set up categories in my checkbook (in Excel) and each payday I enter my paycheck, pay all the bills due before the next payday, and then set aside money for estimated expenses. It looks like this for two weeks:

Cash $40
Groceries $150
Gas $70
Tolls $35
Therapy $10
Prescriptions $30
Clothes $50
Dinner/Entertainment $80
Other/unplanned $150

When I buy gas, I enter that in my electronic checkbook and then reduce my budgeted spending by that amount. So if gas is $20, then I know I have $50 left to spend on gas before my next paycheck. There is always miscellaneous stuff, so that is what my other/unplanned is for. This ends up being things like birthday gifts, I think in January it was $44 for credit reports and FICO scores among other things. If I overspend in one category, say I spend $200 for groceries instead of the budgeted $150, then I have to make it up in another category, say by cutting out the $50 for clothes. Or if I underspend, say I only spend $50 on dinners out/enterainment, then that is $30 I can use elsewhere or save. If I overspend and don't make it up somewhere, then I force myself to make it up with the next paycheck by living frugally for two weeks (it's hard, but not so hard when you know it's short-term).

I don't track my spending other than in my checkbook. I use my debit card for everything except about $20 in cash I spend each week. But I do go back at the end of each month and evaluate my checkbook vs. what I had budgeted for spending, and see how I did. It helps me see where I overspent and encourages me to do better next month.

The other thing to do is when you are out buying something, ask yourself at least three times if you really need it. Ask yourself when you put it in the cart, as you are shopping and then before you check out. First ask if you really need it, then ask if you can afford it or if you should wait to buy it, then ask if there is any way to do without it. Doint that helps me.

Photobucket

iVillage Member
Registered: 09-21-2004
Thu, 02-03-2005 - 3:47pm
It will take time. Kicking bad habits are not going to happen overnight. You recognize your bad habits and acknowledge that you need to change them and that is a huge start. Its just like with an alcoholic, you have to acknowledge you have a problem first before you can help yourself. That is the biggest and hardest step. You will have setbacks but you can do it. And, hey, sometimes we do just forget or have a bad day. Doesn't mean you are a hopeless cause. lol Good luck and we are pulling for you.
iVillage Member
Registered: 03-27-2003
Wed, 02-09-2005 - 9:29am
Thanks for the tips. Pat