Wednesday, September 14, 2011
The Spending Ice Age
Often, among my friends, the term "spending freeze" gets thrown around, mostly to get out of things we don't want to do. Example, "Hey, do you want to go see that new Michael Bay movie?"..."Oh, I wish dude...it's just, you know, I'm kind of on this whole spending freeze thing."
This however, is a loose term, people will break from their "spending freezes" all the time. Whether they decide to buy a pair of boots they like, go to a movie they're dying to see, or attend a social engagement (oooooh! fancy!) they just cannot pass on...the whole idea just becomes completely meaningless.
Thus, a so-called "spending freeze" will do nothing for me in my current situation. I need a full on Spending Ice Age (copyright pending-use of caps necessary because it is really that serious).
The long and short of it is this, during the Spending Ice Age, I will absolutely not spend any money outside of my necessities for daily life. No meals out, no drinks after work, no movies, no concerts. I expect those last two to be particularly difficult; I am a total cinephile (sp? who cares?), and as much as it pains me to say it, in the hypothetical situation described above, I probably would've said "Michael Bay? Hellz yea! I hope there's lots of explosions and hot girls looking dramatically at disaster scenes."
Here's the breakdown as I see it, I have the following necessary payments each month:
Groceries (no meals out, no delivery)
Bills (Cable and Electric)
Medical Expenses (not that serious, but just in case-don't freak)
Recurring pre-scheduled payments (Netflix subscription, Alumni Donation)
Credit Card Payments
I think that about covers everything I absolutely must pay to survive every month. YES THE NETFLIX SUBSCRIPTION IS NECESSARY FOR SURVIVAL! DO NOT QUESTION THIS!
So the goal is, only spend money on these items starting with my next paycheck for at least one month. Using the savings from each week, I will start to rebuild my savings account and pay down my credit card debt.
When is my next pay day, you ask? Well, that's kind of rude to ask don't you think...I'll tell you anyway, it's tomorrow. Starting tomorrow the Spending Ice Age commences, wish me luck!*
*okay so one tiny little detail, I have to pay for a friend's wedding gift this weekend so that will have to be factored in...and I mean, I can't not drink at a wedding...golly this is going to be disaster...