Instant Gratification is a Thirty Day Wait

Ever heard the quote from the movie Postcards from the Edge “instant gratification takes too long?” Oh, I am so that girl. I want it and I want it now. If ya know me, this has caused some pretty embarrassing moments in my life (which I will be sharing in my memoir, when I’m ninety, and living in Prague, yelling at children to get off my lawn.)
With respect to recent work changes in my life, I knew I needed a system to help me curb purchases over $50 that I would want to buy on impulse. I can easily waltz into the circle circle dot store and spend that much on pens and household goodies. I needed a change to allow me to budget/reward myself with items that I “think” I want (not really need). Say, like a KikkiK planner (what? I like planners).
Recently, I had completed a cleaning challenge with InkWellPress and I really, really wanted a Baum-Kucken zip wallet for my Midori Traveler’s notebook. I had the money, I could have easily just bought it. Instead, I rewarded myself with the zip well after the challenge was up and only because I finished it.

www.baum-kuchen.net

That’s one way to save up for what you want and not got instantly cray cray and buy it on impulse. Remember that planner I bought on impulse due to stress…not so happy about it.
I now take a post it note, flip my planner to thirty days down the road and write out what I want. Either the feeling will go away or I will have saved up and be ready to purchase.
This is not in any way an unique technique. Any financial guru will tell you to wait on big purchases, I just haven’t been listening.
lissy

SavIn fOr A RaiNy DaY

It’s month two for the 2013 money management series! This month is all about a regular savings account. I found the article written by Jordan at Fun Cheap or Free Queen very helpful for this series.

One of the perks of working in the industry I do is free bank accounts. As a new employee I was able to open a no fee checking account and savings. Perfect timing too as this month was all about setting up a regular savings account. I currently have $150 going into my emergency account (ultimate goal is have it funded with six months worth of income). Jordan suggests setting up five to ten percent as an automatic withdrawal from your paycheck. I started out at 1%. Why so low? Well, my monthly health benefits do not start until next month and I wanted to see how that affected my paycheck. I will be adjusting up to 3% if possible with 10% being the max.

At this time I haven’t really found a purpose for the account. Jordan also suggests that this fund a have a specific purpose. Hmmm…maybe to fund my trip to Prague?

Next month we will be onto Regular checking accounts!

2013 accts