Monday, October 24, 2011

Motivational Mondays - Going Old School

"It is easy to dodge our responsibilities, but we cannot dodge the 
consequences of dodging our responsibilities."
- Sir Josiah Stamp

I've mentioned a few times that I try to maintain an Excel spreadsheet that tracks my spending. I go in spurts of updating it regularly and then I will ignore it for a while, typically if I get busy or too much has accumulated and it's hard to keep track (much like this blog). When I can only access the file on my computer, it's not always convenient to update it.

Now that I've returned from back-to-back business trips and I can get back on track (I know, excuses excuses), I have a plan to help me keep track of my spending on the go. This way I can't become delusional with how much is in my bank account and overspend. This seems to be happening all too frequently and it has placed me in yet again a financial bind.

This week is a bad example because I'm on a no spending challenge for a while but once I get on more stable ground (Friday), I will start using a checkbook ledger to help me keep track of my spending money. I can keep it in my wallet and fill it in while I wait for the subway or in line for lunch.

I've used sites like Mint.com and I even have their mobile app but it's hard for me to realize at any moment how much I'm actually allowed to spend and how much of my bank account is already allocated to bills. Much like people trying to lose weight write down every single calorie they consume, I will start doing that with spending. I'm not sure of a better way to keep track then to just do it manually so I'm hoping it helps. Without accountability I have no hope at improving and I really need to dig myself out of a rather large hole.

“Thinking well is wise; planning well, wiser; doing well wisest and best of all.Persian Proverb

2 comments:

  1. How about setting aside a certain amount..say $40 and that's all you can spend on yourself for the week. Once you run out you just have to wait for your next check. Hopefully you'll find something that works for you :) Kara XOXO

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  2. Thanks for the suggestion! I'm going to try that but I've realized I have to increase the amount I'm allowed to spend or I will always be scrapping by and constantly feeling deprived and then binge spend. Starting Friday (payday) I will do that and keep track and be very strict and hopefully manage to have some left over at the end. Fingers crossed!

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