Thursday, July 22, 2010

Wedding Woe$

Danial and I suck at saving money. 
We always WANT to save money, but it is a combination of the unexpected or the desire to actually enjoy the life we work so hard to make that gets in our way.
About every two months Danial has some type of unexpected car problem (more rants about VW's to come) and lately there have been too many invitations for parties/bars/concerts to turn down.  I mean...what is the point of working so hard to survive if you can't enjoy what your money can buy?
Well....we have to start buckling down because our wedding is nearly 1 year away and it is crunch time folks!  I don't think I realized when we signed up to this thing (wedding thing) that it would be so hard to do on our own.  (We are paying for the majority of the wedding, my mom will help pitch in, but this will even be harder now since my parents are getting divorced.)
I have developed a list of things to do for the next year to allow us to save money each month (we have already promised ourselves that income tax return and spring work bonuses will go directly towards our wedding funds).
1) Eat out only once per month. 
2) Limit booze/bars to special occassions and parties (Okay, this rule is for me since Danial does not drink.  Drinking out at bars gets expensive and while I am on this dress diet, curbing my booze will help that goal as well.)
3) Pay ourselves first.  On payday we are going to deposit money into our savings accounts before we do anything else with that money.  Thank you Suze Orman.
4) Spending Smart: Use cash instead of our debit cards, avoid the sale racks, never go to Target without a list, and stay off my favorite store websites.  I watched the below video this morning from the Today show and it really hit home for me. 


5) Limit movie theatre dates and use our Netflix more.
6) Work OVERTIME whenever work is offering it.  (Danial and I are lucky to work for the same company and our company is thriving. In these times I think it is important to take advantage of overtime opportunities when they are available because in a few months the OT could be gone.)
7) Explain our money savings to our friends.  Our problem with saving money in the past has been we find it really hard to say "No" to invitations to do things like bars, concerts, movies, and nights out to eat.  I think our first step to success will be to explain to our friends that our wedding is next year and it is now or never time for saving money.

3 comments:

  1. Saying No to friends and to spending habits is the hardest thing to do. Josh and I joined our finances and made a budget, we get money automatically deposited into our savings accounts as we get paid, and we TRY to limit ourselves to booze and food.* Those three things sound good, but we suck at following our budget and we suck at not going out to eat or drink. But we've developed a system that works (somehow, I don't know!) and our savings is doing well.

    Something you may want to try (I've never done this, but I had a student who did it)- withdraw a specific amount of cash for the week and use it as your spending money. If you limit yourself to $150 in food/booze/fun/movies you'll know exactly how much you're spending. I've never known an "adult" to do this, just a college kid, so it may not be feasible, but it sounds good in theory! Haha!

    And I agree- we make money to spend it. Although sometimes I want to hoard it and hide it under our mattress... but it's not the damn depression!

    * The other night we went to this fabulous Italian place and joked that we eat and drink our money. We wine and dine and there's nothing wrong with it- we deserve it! Shoot!

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  2. @Angie: I agree completely! It is hard to work work work without a little play. I actually am thinking about giving myself a little "allowance" each paycheck because for me, it is so easy to just swipe my card. I think the cold hard cash method may just work for me.

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  3. I, too, have a slight problem. Actually, after reading your post, I am heading out to buy a new pair of sandals. I have self control, I just don't care to use it.

    And if you have the op to work overtime, then DO IT. I am a teacher and I work overtime every week except I do not receive monetary compensation.

    Enjoy the weekend!

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