4.26.2012

Financial Workout #Fworkout

Ever since I found out that I would be quitting my job and becoming a full-time student again, my spending and saving habits have become greatly affected. To put it precisely, when I made the decision to move, it was like a really hard kick in the butt to get myself in tip-top financial shape.

I've been working on my #PFworkout and I go to the gym pretty much every weekday, thanks to the motivation and dedication of others - Cait, Travis, Bobbi, Daisy to name a few. It's been really fun to challenge and push myself towards my limit for my health but now that I'm going to be jobless and *gasp* income-less (that's a word I think), my financial health needs its own financial workout. I like to challenge myself, which is why I joined the Yakezie challenge and why I started blogging in the first place.

I'm going to challenge myself to save as much as I can before I move. 

I decided that my last day of work will be July 20th so I have 6 paychecks left. This comes out to $6,600. It's scary to say good-bye to my bi-weekly income especially because just a few days ago, I thought I would be with this company for a long time. I knew that my job was secure and that I would be getting paid nothing less than what I get paid now for a few years.

Financial Workout Challenge

I want to sock away as much as I can and spend on only the necessities. I want to do this because I'll feel better knowing that I saved as much as I could and I'll feel safer knowing that I have more money in my savings.

Dependency on Income

I can't believe that I won't be getting a paycheck soon. I've become really dependent on money and I'll miss it. Is it sad that I get nervous and sad when I think about losing my income? It was so nice that it was all mine. I spent most, if not all, of my paycheck towards debt repayment when I first started working. I kept barely $100 for 2 weeks for myself during that time and I don't regret it at all. After I paid the last of my credit card, it just felt great to know that the entire paycheck was mine and I was able to pay myself first. I know that my parents will help me a little bit and the rest of the money will be coming from school loans, but it just won't be the same. I'm going to have to continue this challenge anyway when I will be using loan money, so I need to start changing my lifestyle habits and get back to hardcore saving. I remember what it was like being a broke college student, so I have to get used to it right now.

via
I will be cutting down completely eliminating:
Fro-yo :(
Starbucks
Boba
Candy
Chips
Ice Cream
Fast food
Dog stuff
Pilates classes (except I need use the remaining ones I already bought)
I can use gift cards - I have Coach, Gap, Starbucks

I guess now you know why I go to the gym so much. I eat a lot of junk! My plan is to go grocery shopping with a list, and prepare lunch for work each day. I'm going to bring lunch everyday even if it means a Lean Cuisine. Also, I'm going to go through my closet and sell a lot of clothes and shoes on ebay since I have the time right now.

Every time I save money or resist the urge the buy something, I'm going to tweet about it with the hashtag #Fworkout. Feel free to do the same or follow me for updates :) I could really use some motivation and help!

Does anyone want to join in on my Financial Workout Challenge to see who saves the most from now until August 1st?
Let me know how much you want to save each month and I'll keep checking in to see how you're doing as I give my updates.


Check out this post by Frugal Beautiful on How to Tell If Your Spending is Out of Control & How to Stop It! She's moving soon too, and I thought this was a perfect complement to my post.

0 comments:

Post a Comment

Thanks for the feedback!

Related Posts Plugin for WordPress, Blogger...