Social Spender

Take out your phone. Check your Mint account. Those graphs and stats will tell you what you did last night. That you bought a round of drinks for your friends, ate a fabulous dinner, and saw a really awesome concert. What they don’t say is who was along for the ride. 

Spending money is just like any other “drug”. It’s addicting and most fun with others. I’m a social spender, so being out with friends or family is definitely my weakness. I adore my few close friends and enjoy getting to know my acquaintances better. Sometimes, I justify a dinner or drinks out, because I need to see these people. 

This month I was able to stay under budget in multiple categories. Here are a few strategies I used. 

I think of my budget differently. If I have $40 budgeted for eating out, then I need to make that last all month. This month, there are four weekends. If I want to make my budget last all month, I should stay around $10 a weekend on eating out. Thinking of it this way keeps me from blowing my whole budget in one weekend, which I could easily do. The same would go for the rest of my flexible budgets. 

Sleep more. It’s just a fact. If I’m asleep almost 12 hours both Friday and Saturday night, I really can’t be out spending money. I love sleep. I think about it all week. When I get up at 6:08 am every work day, that Saturday morning sleep is blissful. Also, sleeping in pretty much cuts out at least one meal.

Don’t get food at the bar. Studies (and Bar Rescue) show that if you eat at a bar, you stay 52% longer, which means spending more money. Instead, get appetizers or split a dinner somewhere with out cocktails. 

Ditch the “big city” for a hometown adventure. Dive bars and local festivals can be much more exciting than trying to navigate a new area. Also, just the pure easiness of a familiar area makes it less stressful and less expensive. 

Were you over or under budget this month? How can you change your habits and be more successful in December? 

A Real Emergency

Friday at work my day was going pretty smoothly until my team meeting mid-morning. We got news that our team would be shut down until January 15th due to a hiring freeze by our client.

I felt numb, but I watched the faces of my teammates. A few were absolutely devastated. It's coming upon the holidays. Those with kids were unable to comprehend that everything would probably be alright and we would all be temporarily placed on other teams.

 I finally absorbed all the information and turned to my colleague and said, "I will be alright. I have an emergency fund." 

Knowing I had a safety net, made the situation a whole lot less dramatic. 

My managers pulled through and found me a spot on another team for the next three weeks. I will not be needing my emergency fund, but knowing it's there is a giant sense of relief. 

If you're ever considering taping into your emergency fund - don't. Use those funds for the time when you think, "Thank God I have an emergency fund." 

Independence Day

Tonight, is one small step towards independence. I previously mentioned my spare bedroom in progress, and it is finally move in ready. I'm sleeping in my new full sized bed in a spacious room. I'm pretty excited. Hopefully by staying up to write this, I'll have burned off some of my nervous energy. I realize tonight, that the important part of paying off debt is the financial independence.

I never really grasped the concept before, or maybe it's taken on a new meaning for me. I'm very thankful to have family that has supported me during college and post-grad struggles. My parents weren't able to help out as much as maybe they would have liked with my education, but their constant loads of laundry and home cooked meals were just what I needed. I actually like spending time with my family, so getting away seemed to be unnecessary. 

Now, I'm at a place where I can finally start taking care of myself - at least a little bit. I feel pretty odd that I'm still excited to see my student loan payments withdrawn from my account. I know that is one payment down and a smidge closer to my goal. Once those payments are done I will have the freedom from debt and the ability to choose my own fate. I can decide if I should move closer to work or if the house needs improvements. Having the freedom to choose how and where your money and life is heading, is something that seems impossible while weighted down with debt. 

I challenge you to take one small step towards independence. I challenge you to put one load of laundry in the washer for yourself. I challenge you to call up your 401(k) provider for more information. I challenge you to put your change in your piggy bank instead of your wallet. 

Sometimes that little jolt of independence is all you need to get hooked. 

Do It For Her

Being around other millennials has its perks. I’m finally with my people. Those who enjoy brie, wear sparkly necklaces, and listen to completely random music. Between the conversations of weekend low airfare and someone’s friend who is totally beautiful but just can’t find a boyfriend, our student loan debt came up.

The debt ranged from my $73,000 to the lowest at only $15,000. There were only a handful of people who chimed in, so to give an average would be inaccurate at this point. I thought about it for a while in my cube. How come I’ve never hear many people talk about this?

Whenever I’m around “adults,” I rarely, if ever, hear quotes of how much is left on their mortgages or cars. I think us millennials talk about our debt, because it’s staring us right in the face. We can’t get away from it, and the fact is most of us are in the same boat. If you’re just starting to get the repayment plan paperwork, resist the urge to throw it away. Instead, take a deep breath and put it somewhere safe. Take a day or two and then commit to making this debt go away.

Right in front of my computer at work is my little hand drawn debt chart. At the top, is my final goal and the year I hope to get there. I’m only on the first little line, but I will confidently tell you that I am so close to coloring in the next section that I have to hide my highlighters from myself. Seeing that chart reminds me of my bigger picture - why I’m working so hard, driving so long, and not buying a really cute pair of loafers. Whatever reminders and motivators it takes for you, put it all around you.

November Net Worth

October was a month that offered a lot of growth. I ended up earning more than I had anticipated at my new job and also reaping the calendar benefits of an extra payday. I am currently at a -63008.76 net worth. This is +2462.66 from when I started tracking my net worth in August. It seems to be that once you pay attention to your net worth, it starts to go up. I was working on my debt before tracking net worth, but when I saw the data, I wanted to keep working towards that ever elusive positive net worth. 

Over the month I survived one of my best friends also going down to one job and now is available on weekends. I also used my HGTV obsession to benifit a previous Crayola colored room and my budget. Most of all, I learned about and experienced Prjkt Ruby, which will save me loads of dollars in the long run. 

If you don't already keep a net worth tracker, I'd highly recommend it. Even if posting it online isn't for you, then make a Google Doc and keep that information.Feel free to share it here, or comment with links to your own sites. I enjoy reading all kinds of new blogs and topics. 

You Are What You Read

Hey, everyone! I haven’t quite been keeping to my posting schedule as much as I’d like, but here’s to a new week, fresh start, and another opportunity to get on the right track. For now, I’ll leave some of the articles/websites I’m a fan of lately. Instead of hitting up Buzzfeed before bed try skimming one of these options.

Amy Poehler’s Smart Girls is a great organization to follow on Facebook. They’re constantly posting stories of women and girls who are being innovative and challenging the norms. Check out this post that warns and inspires the next generation about student loan debt.

http://amysmartgirls.com/avoiding-debt-a-letter-to-kids-starting-college/

Bright Cents is really one of my favorite places to keep me accountable. Sometimes I need a reality check when I get too comfortable. How are you keeping yourself from slipping into old habits?

http://www.brightcents.com/how-to-stay-out-of-debt/#more-3597

During a Friday night out with friends, Venmo could be a money saver. It would help with splitting checks and taxis. Millennials love pizza and Venmo helps us split the check with friends. I’m about to check this one out.

http://money.cnn.com/2015/10/31/news/economy/venmo-millennials-spend-big-on-this/index.html?iid=SF_River

Also, follow The Freedom From Money on Instagram. Her posts are a great pick-me-up during the day. Seeing her motivational pics makes me feel like I’m not the only one on a mission.