thefed
Thinks s/he gets paid by the post
- Joined
- Oct 29, 2005
- Messages
- 2,203
I've been spending like my income was that in 2007 and 2008....which it is not. Especially at this time of the year. I find it difficult to truly budget and set automatic plans in motion when my income is sporadic (self employed).
Well, I KNEW I was putting a bit too much on my ccards....ignoring the mail for a few days here and there...just generally hiding from my finances...and that is NOT me. I've digressed. Weird.
I just sat down and entered EVERY SINGLE debt, source of income, asset, monthly bill, expense etc into a spreadsheet and faced the facts. Although I dont like what I see...I feel EMPOWERED for finally snapping out of my 6-month trance. WTF was I thinking? Time to go back to basics.
I have weird methods of 'mental accounting' that dont always go as planned...mainly because my life is becoming more and more complex as I explore more and more business and personal opportunities....my mind just isnt as sharp as it once was...or maybe it IS, but just cant process all this info all the time.
Nonetheless....I never thought I'd get to this point. I'm actually paying too much interest on some business-related revolving lines of credit and ccards just by not moving them to lower rate lines....SIMPLE stuff...ELEMENTARY. I never used to carry debt....but now it's crept up on me.
LUCKILY, the smart me has several small savings accounts with auto-deposit features that have a nice little stash by now. I also WAY overpay my mortgage and other lines of credit...so if it were to really get out of hand, I could trim my monthly expenses by 25% and not bat an eye....nor change my lifestyle.
Time to put the pull up the bootstraps. And hopefully get some work ($$$)so I can make it happen.
My name is Jason, and I am a recovering financial idiot.
Well, I KNEW I was putting a bit too much on my ccards....ignoring the mail for a few days here and there...just generally hiding from my finances...and that is NOT me. I've digressed. Weird.
I just sat down and entered EVERY SINGLE debt, source of income, asset, monthly bill, expense etc into a spreadsheet and faced the facts. Although I dont like what I see...I feel EMPOWERED for finally snapping out of my 6-month trance. WTF was I thinking? Time to go back to basics.
I have weird methods of 'mental accounting' that dont always go as planned...mainly because my life is becoming more and more complex as I explore more and more business and personal opportunities....my mind just isnt as sharp as it once was...or maybe it IS, but just cant process all this info all the time.
Nonetheless....I never thought I'd get to this point. I'm actually paying too much interest on some business-related revolving lines of credit and ccards just by not moving them to lower rate lines....SIMPLE stuff...ELEMENTARY. I never used to carry debt....but now it's crept up on me.
LUCKILY, the smart me has several small savings accounts with auto-deposit features that have a nice little stash by now. I also WAY overpay my mortgage and other lines of credit...so if it were to really get out of hand, I could trim my monthly expenses by 25% and not bat an eye....nor change my lifestyle.
Time to put the pull up the bootstraps. And hopefully get some work ($$$)so I can make it happen.
My name is Jason, and I am a recovering financial idiot.