New Blog Location

I've updated my blog to Wordpress and it can now be found at my very own URL: www.notspendingmoney.com.  New posts will no longer show up at this Blogspot address; please update accordingly!

Thanks for reading!

New Blogroll item: The Simple Dollar

I've added a blog to the blogroll: The Simple Dollar.

The blog is written by a guy named Trent who describes his blog as such: "The Simple Dollar is an exploration of personal finance from the perspective of a late-twentysomething who just realized that he needs to get a grip on his money. I used to be a spending maniac. I’m doing better. Sometimes."

I don't know the guy, but he has a lot of money tips that are interesting. I try to stay more focused on a lifestyle of not spending money, rather than providing day-to-day savings tips, so I thought I'd link to his site in my blogroll.

The post that particularly caught my eye was one that talks about the exact thing that I like to focus on here: How to Feel Happier about Not Spending Money.

Enjoy.

Moving On: Getting over your bad self (and your mistakes)

We've all done it before-- no matter how much you're on a budget, no matter how frugal you're being, no matter how many Ramen noodles you eat instead of going out, there's that day when you sit back, go over your personal finances and say...

I spent HOW much??? On THAT????

Yes, yes you did.

First, learn from it.  What item could you simply not live without? Did you make the decision to buy it actually in the store, or before you even went in? Before you even left your house? Next time, is it easier to just not go into that store? Or go grocery shopping with less cash in your pocket, and no cards? Or is it easier to ask someone else to pick something up for you, so you spend less? 

Everyone's got their different trigger points.  For me, I learn to avoid bookstores if I don't want to buy books.  It's just a lot easier than listening to all my convincing arguments about why I need a particular book once I'm in the store.  

But everyone's got different buttons.  It might be easier to not go shopping if you're not reading ladies' magazines, or it might be easier to spend less on food if you're not watching the food network.

If you have kids, you might find that your kids ask for fewer toys if you don't visit the toy section, or if you mute the commercials while watching TV.

These might not work for you. Experiment.

Next, remediate it.  Can you re-sell the item on eBay? Can you return it at the store? Can you apologize? If so, consider it. If not, get over it.

Now, move on. Get over it.  Quit bemoaning the fact that you now have something off eBay that you didn't really need or want and was damaged in shipping, and go do something else.  Something that distracts you. 

Maybe even treat yourself, for learning an important lesson. Not at the coffee shop, not at the bookstore.  Find a pleasant place to walk. Find a nice hillside with grass where you can sit and feel the breeze.  Go to the library and find a new author. Read something interesting online. Take a hot bath. 

And just don't make the same mistake again. If you're treating yourself well in other ways, you won't need to. 

A Word about Personal Finances

A word about personal Finances:

What you make is YOUR business. It isn't anyone else's.  It doesn't matter if you make 100,000 a year, or 50,000 a year, or 18,000 a year.  

What you spend (or not spend) is also YOUR business. Times are tough right now, but they won't always be, and for some who have kept their jobs and their savings, the economic downturn has been sort of a rethinking time period.  People have asked themselves, "Do I really need a fourth car, or can I get up a few minutes early to drive the kids to school, the way I did the rest of their education?" They're asking themselves, "Do I need an expensive birthday party every year, or do I get what I need out of getting some friends together to eat some cake?" "Do I want a bigger house, or do I actually, in my heart-of-hearts, get tired of cleaning it?"  "Would the money I save by not eating out offer more reassurance if it were in a savings account?" "Is it still worth taking that vacation if it means that I have to get rid of my magazine subscriptions, club membership, and Internet connection? If it really is worth it, then what do I fill my time with when I get rid of those less important items?" It's a time when people are doing some self-assessment, regardless of income level. 

People are re-assessing their status quo, whether they've lost their job or kept it. People are examining what is important, whether they can "afford it" or not. What you feel you can afford or save or spend is up to YOU. 

That being said, it's ok to not spend money even if you make more than your friends.  And it's ok to spend money (assuming you have it to spend) even if you make less than your friends. Your money is YOUR money; you don't owe your neighbors an explanation.  

That's why its called PERSONAL finace.  Because it's personal.