Friday, November 6, 2009
How do you save money?
"As a recent college graduate, I'm really learning to deal with having to set a budget in order to pay all of my bills on time. Student loan repayments are just around the corner. Where I try to cut back the most is my food budget. I bring my lunch to work everyday, usually a cup of noodles that costs .29 cents at the grocery store. For dinner I make some sort of frozen meal or make some rice and chicken. I rarely go out on weeknights or participate in a lot of leisure activities during the week. I also check my bank balance online daily. Every payday I budget how much money is actually mine once all my bills are paid for the coming two weeks. From there I decide how much of that I want to spend. I then make a goal for what I would still like to have in my bank account when I get my next paycheck. Some weeks are easier than others. When I know I am going to have an expensive weekend coming I try to be extra careful with expenses during the week. I'm getting married in July so am trying to be extra frugal this year. Finally, I keep a running list of stuff I want that can be added to my holiday list"
How do you splurge money?
"I love clothes, handbags, and Target. When I feel like I have some extra money in a paycheck I go to Target on payday Friday. I tell myself I'm buying 'the essentials,' which I haven't been able to buy until payday, but really I walk out with stuff that could have been left behind. This fall I'm finding it very hard not splurge on cardigans. All of the colors for this fall are so vibrant and I want them all in my wardrobe. If I have enough patience I'll usually save for a new handbag. I recently got a new one as a gift, though, so I think I am set for a while. I've also been looking for shoes lately, and honestly will probably go buy a new pair today because I have a 50% off coupon. Also, on paydays, I treat myself to a nicer dinner out. For example, last payday it was sushi. If I'm really good at saving on food during the week, I think I deserve it."