Two weeks in and a day from halfway. I am currently at $6 a day over budget. I'm a little concerned about what rent and electricity will do to that in two days, but I digress.
I've been reading a new financial book for women. At first I was a little offended at the idea of 'budgeting for women'. It either insinuates I'm bad at saving money or it insinuates that, as a woman, I have some un-male habits that cause me to spend more. I think I just plain don't like it when someone suggests women are predictable and only act a certain way, or they're not normal women. Hell, I even had a conversation about the expectations people have on women maybe... three days ago?
However this book made a clear and good point as to why women should be more careful with their money than men. Fact: Women on average make less than men. Fact: Women on average live significantly longer than men. Meaning, we have to live a lot longer off a lot less money in order to survive old age. This makes sense to me. This is inspiring to me. What do I do when I'm inspired? I pass it on - because I'm Jesus like that. (Must be a Jewish thing.)
So I'm making a deal with my readers. I am going to continue this budget thing - once a week I will update on something budget-y. I'm also doing a few other things:
I currently own two credit cards. One has a few thousand limit and is almost full. The other has a few thousand limit and is about $1500 full. $4500 in debt is really not something to be concerned about. Y'know, unless it has interest. Which the big card does. The little one doesn't. Not for another 4 months. With today's cheque coming in the mail (I confirmed it was sent last wednesday) I can pay off a full thousand on the big interest card. Then I can tranfer two thousand of it to the smaller no interest card. Leaving me with $3000 with 0% interest and $500 at 14%.
Currently I have almost $500 in savings gaining 6% interest. So with this credit card hogging space I'm losing money. Might as well chuck that savings onto the card, I suppose. It's annoying because that money was 'paying myself first'. But I am not paying myself very well if my debt exceeds my savings investments, am I?
I guess what I'm saying is by the end of today I will have an entire credit card paid off. All because I budgeted. I should point out I don't consider paying off credit cards part of my budget - technically the money is still there. I will cancel the card in the future and I've decided when. When I have that exact amount of money on the card ($3500) in cash in savings, I will close it. I will no longer need it 'for emergencies' (like I ever did...) and of course, I will have paid off the second one and will do the same exact thing.
Then - I will invest. I will talk about this when it happens - like I said I want to update weekly on this. I'm eyeing some stocks at the moment, but we'll see how I go. Unless I go high-risk, there's no point in using money that can go on my 14% credit card (because I'd need a 15% or above return to make it worth it). So once the credit card is paid off, I can start paying the other credit card, then I can invest what I pay myself, which may be as soon as next month.
I am excited.