Tuesday, September 9, 2008

A Savings Plan

While cleaning my room this weekend, I came across a note I had written about how to save money.  I have no idea wear I copied it from, but I thought I would post what I had written.
  • Invest $500 a year
  • Take 80% of pay for 3 months and divide it into envelopes
  1. Long Term Savings
  2. Short Term Savings
  3. Rent
  4. Clothing Allowance
  5. Food
  6. Cable Bills
  7. Partying
  • Save or invest 20% of paycheck
  • Pay off student loans slowly
  • Stop Renting
  • Pay off credit cards
Leave a comment if you know where these tips are from.

Sunday, September 7, 2008

Money & Me

When it comes to me and money, we never stay together long.  There are fights, followed by gifts, and then the inevitable breakup.  However,  I am determined to make this relationship last.  I have thought long and hard about the struggles that tear us apart and have come up with a few guidelines that I think will keep us together.
  1. No scrimping on the salon. - Nothing sends me into depression like a bad hair cut or dye job, especially when it is done at Le Salon el Cheapo.  From now on, I will go to my favorite salon, but to save on costs, I will go every 2-3 months.
  2. Follow the one-in-one-out rule. - Nothing ruins a relationship like a crowd.  Now, if I buy something (say tennis shoes, a new bag, or a private jet), I will donate, toss, or destroy the items I am replacing.         
  3. Only buy quality. - The secret of every successful relationship is quality.  Forever 21, Wet Seal, H&M, and anything polyester, acrylic, or fleece can never be considered quality no matter the price one has paid for it.
  4. Buy natural. - A poly-blend suit will only get me so far up the corporate latter.  Wear natural fibers such as cotton, silk, and wool.  Nosh on fresh ingredients instead of that canned salmon which contains enough salt to season a lifetime of Thanksgivings. 
  5. Save up for what truly matters. - Another pair of black heels should never take precedence over a trip to Tahiti.  Too often, I splurge on impulse buys and then have no money to hang out with friends or to plan a vacation.