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Old 09-17-2007, 11:39 PM   #1
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Default Realizations..

Have you ever come to a point in your life when you realize that your expenditures are far outweighing what you should be spending? In other words, "living beyond your means." I'm having one of these moments right now. After going from nearly 8,000 in a savings account, down to under a 1,000 in a little over a year, and having literally $45 in my checking account right now. My next pay check is also already spent to pay money that'* on my credit card. What is the problem you ask? It'* not that I don't make enough money, that'* not it at all. The problem is SPENDING it on things I feel like I want/need, when really, I could get by without them. I've come to realize that my spending habits have come from boredom and not feeling good about what I have, not what I really need. I'm now trying to find ways to spend my time without feeling the need to constantly spend money on things I don't need, such as a gym membership. I've found that the more I go there, not only the better I physically feel, but the better I feel about myself. It'* amazing. It isn't solving all of my current financial troubles however. I would have been alright and able to make all my bills if I hadn't of bought a new vehicle. I knew it wasn't a good idea and I told the dealer that but he somehow talked me into it. It just makes me angry that a dealer pushed a vehicle purchase on me when he knew that I probably couldn't afford the $300/month on top of all my other bills. It'* my own fault for falling into this trap however. (It'* not just the car that'* the problem, it'* a lot of other frivolous expenditures.) It'* just a realization I came to tonight when I was going over my bills and realizing I couldn't pay them. Just had to get it out! the best thing of this all is that it'* a learning experience and I will grow from it, like anything else. Any tips/advice is definitely welcome, along with stories of "I've once been there too."
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Old 09-18-2007, 02:03 AM   #2
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Sorry, didn't mean for this post to make anyone feel sorry for me, or drown in my own pity, not at all. It'* just for discussion purposes only 100%. I had a family member offer to help me out, but I refuse any kind of help. I have to do things on my own, it'* just how I am. I got myself into the situation, I'm going to find a way to get out of it. I just had to vent. Thanks to anyone that read it, it'* just a weight I had to get off that'* been stressing me out!
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Old 09-18-2007, 02:19 AM   #3
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I'm kinda happy I learned this early in life. When I graduated from High School, I wanted everything. I wanted the Audi S4 my friend drove, I wanted the awesome computer I've been looking at, I wanted all these little gadgets that I had no use for. Sadly, because they give credit to anyone these days, I got most of that, except the Audi (I got something better ). Even when I bought the Impala, I was thinking, man, wouldn't it be cool if I had this, this and this, and then I realized, wait a tick... I can't afford this! I have to work my way to this, I have to keep working and saving, not relying on credit cards! I can live without fancy rims or a more powerful engine, but I can't live without food. I think what you should ask yourself is, hmm, what do I need and what don't I need? Also, what could I possibly substitute? I know you covered this already, but do you feel you NEED a CTS? I would consider buyers remorse valid in this case. Do you have any positive equity in the car? If so, I'd sell it. Get something that fits your budget more. Also, is this job of yours a permanent situation (I have no clue what you do, haha)? Is there any way to move up? I would put a nice car as a goal for yourself, that way, you can earn things the right way

This is just my opinion, really, but I hope you consider it.
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Old 09-18-2007, 02:26 AM   #4
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My current job is managing a restaurant. It'* not the greatest pay available, but with only an associates degree currently it pays pretty well, and I have great benefits. I have a great health insurance plan that I ONLY pay $60/month for with 100% coverage for dental, vision, doctors visits, ER, etc. Many entry-level jobs don't offer this. I make under $30,000 a year, but the benefits are what keep me there. Did I need the CTS? Definitely not. The Aurora was a great car that was 100% paid off. I bought the CTS for "the cool factor" and how well it drives. But, what I have to keep in mind is that I'm paying $294 for this car which is really nice when most people are paying that much money for a lot less car. (I know of a few people who pay that much for a Cavalier, etc.) What is killing me are all the little things that nickel and dime me, like mods for the car. I'm buying things I don't really need, like the air intake, stereo equipment, etc. It all adds up. In just mods I've already spent $500 in the one-month I owned it. It'* absolutely crazy. I think that if I can cut that type of spending I'll be alright. I'll have to get the cards paid off and see how above water I can get myself.

I'll admit, if it came to it, selling the CTS would probably be one of the HARDEST things I have ever done. I absolutely love it, but do I need it....?

That'* the question, and I know the answer.
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Old 09-18-2007, 02:40 AM   #5
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What I don't understand is why you would want to replace that excellent sounding Bose system

Well, I realize why you had to sell the Aurora (after reading Boosty'* posts on the horrors of the N*), and 300 bucks sounds good to me for a car that'* 2 years old, especially one as nice as that. So, really, as you said it'* all about whittling the little things down... At least it'* not monthly payments that has you in a tangle. Right now, having no job and all ATM, I've been having to drain my savings account just to pay my car bill, insurance and cell phone bill. That'* around 400 bucks a month. For a 19 year old, that'* a ton of money, especially when you're used to getting paid 600 a month for a part time job... If I could only drop my cell phone and my credit card bills, I'd have about 100 dollars a month to save... That sucks.
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Old 09-18-2007, 02:54 AM   #6
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Go running instead of working out at the gym, eat in, not out, know your car is pretty sweet, and don't compare yourself to some CTS-V thinking you need to be there...

He didn't have to sell the 'rora at all, you know petra.

EDIT: once i started saving up this past winter/spring, the more money I had, the more I got as well. It was almost easier not to spend when I had so much in there, than when I was lower. I started my FT job this summer, and i'm living at home for a few more months to save a **** ton, even after outfitting myself with an Xbox 360, and a new car, i'm sitting damn good, an dneed to start finding places to put my money into.

Not going out to the bars all the time helps Immensely..
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Old 09-18-2007, 03:04 AM   #7
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Quote:
Originally Posted by BonneMeMN
Go running instead of working out at the gym:
Luckily my gym membership is only $24/month.. not bad at all for a Gold'* membership. I got a membership because I'm one of "those" people who if I wasn't paying for it, I wouldn't be doing it. It keeps me from being lazy, and $24/month for good health is worth it IMO.
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Old 09-18-2007, 03:08 AM   #8
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Quote:
Originally Posted by Custom88
Quote:
Originally Posted by BonneMeMN
Go running instead of working out at the gym:
Luckily my gym membership is only $24/month.. not bad at all for a Gold'* membership. I got a membership because I'm one of "those" people who if I wasn't paying for it, I wouldn't be doing it. It keeps me from being lazy, and $24/month for good health is worth it IMO.
That'* not bad. But just keep in mind how many times a month you say "It'* only xxx dollars". I wouldn't cut it out, but i'm sure there are things that if you sat down and made a list you wouldn't. I'm kinda working on some "rules" for health/fitness ATM myself.
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Old 09-18-2007, 03:31 AM   #9
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Been there, done that.

I know its a pain, but write down EVERY time you spend ANY money. $300 car payment, or $1 pop, write it all down. At the end of the month, you will see where it is really going.

You wouldn't believe how much money you can save by just drinking water instead of pop/alcohol at restaurants.

Make a box of mac&cheese or grilled cheese instead of that $10 subway meal.

Cut your own hair, or let it grow. The $15 I pay for a haircut every month is ridiculous.

disconnect your internet so you can't browse thru other peoples mods to get ideas

Finally, DON'T CARRY CASH.... its way to easy to spend
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Old 09-18-2007, 03:51 AM   #10
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im facing a similar problem.

as a consequence, i carpool on tues/thurs to class, ride my bike to class on mon/wed/fri, eat once a day (one sandwich, or, if im really hungry, a sandwich and a half), um. . . what else . . . there is NO eating out (unless i can get nancy to spring for it).

any other expenditure is approved via nancy before i can spend it.

oh, and while i drive, i run red lights. i find that any sort of slowing down results in a lower gas mileage when i speed back up. so, i just cut that whole "slowing down" thing out.*


*not really
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