Learning the True Value of Money
Hi Cath,
Great site, thank you for your time and your thoughts in doing this.
I was continually disappointing myself by settings savings targets and never meeting them. Yes, they were mostly overambitious, I suppose, although that was only part of it.
Instead, once I focused on my spending only, and used that for a budget (it takes time to adjust to rein yourself in) then what was once a tight budget perceptually, was rather manageable in day to day living. It forced priorities for petrol, weekly food shopping and discretionary spending. I now see for instance that a $137 Bunnings shelving purchase does not have to be bought at once, but can actually be put aside and saved up for out of my allocated weekly budget.
I now even place all left over weekly money into a money box, this is to be saved for well, just to be saved - aim is for Christmas period 2013.
Another tip that has helped is that I have been paying my power and gas bills in advance with spare money; in time this has built me up into a good credit situation and should unemployment arise, then I am better placed with 6 months minimum of electricity and 18 months in gas bills pre-paid and up my sleeve. I have slipped to just keeping up with my phone bill as it comes in, however, when that was in credit, I found that I was more mindful that I was spending my money in making calls, so would economise better.
The feeling to get a bill and see that you are in credit, is a good feeling whereby I actually enjoy paying some more to keep me well in front.
Going through the shopping docket helps tremendously, you can recognise frivolity and those "not necessary" spending and you also realise the costs of things.
Essentially, by looking at my spending, the savings follows through automatically. It may take 3 to 6 months to get into the swing of things, but once established it is pretty smooth sailing from there.
I don't begrudge car repairs and major-ish unexpected hits, as, well, these things need to be done and gotten out of the way and I have helped to place myself into a position to enable these things to be mere speedbumps now where before they would have been brick walls.
Thank you for all your help in changing my way of thinking and assisting me in this journey from that of wasteful bachelor to a man learning the true value of money.
Cheers,
Graeme
Great site, thank you for your time and your thoughts in doing this.
I was continually disappointing myself by settings savings targets and never meeting them. Yes, they were mostly overambitious, I suppose, although that was only part of it.
Instead, once I focused on my spending only, and used that for a budget (it takes time to adjust to rein yourself in) then what was once a tight budget perceptually, was rather manageable in day to day living. It forced priorities for petrol, weekly food shopping and discretionary spending. I now see for instance that a $137 Bunnings shelving purchase does not have to be bought at once, but can actually be put aside and saved up for out of my allocated weekly budget.
I now even place all left over weekly money into a money box, this is to be saved for well, just to be saved - aim is for Christmas period 2013.
Another tip that has helped is that I have been paying my power and gas bills in advance with spare money; in time this has built me up into a good credit situation and should unemployment arise, then I am better placed with 6 months minimum of electricity and 18 months in gas bills pre-paid and up my sleeve. I have slipped to just keeping up with my phone bill as it comes in, however, when that was in credit, I found that I was more mindful that I was spending my money in making calls, so would economise better.
The feeling to get a bill and see that you are in credit, is a good feeling whereby I actually enjoy paying some more to keep me well in front.
Going through the shopping docket helps tremendously, you can recognise frivolity and those "not necessary" spending and you also realise the costs of things.
Essentially, by looking at my spending, the savings follows through automatically. It may take 3 to 6 months to get into the swing of things, but once established it is pretty smooth sailing from there.
I don't begrudge car repairs and major-ish unexpected hits, as, well, these things need to be done and gotten out of the way and I have helped to place myself into a position to enable these things to be mere speedbumps now where before they would have been brick walls.
Thank you for all your help in changing my way of thinking and assisting me in this journey from that of wasteful bachelor to a man learning the true value of money.
Cheers,
Graeme