Money slips so easily through your fingers


(photo by me)

   I had a very unpleasant realization about money yesterday: I have lost my ability to control how I spend.  I started off this semester with a $4000 student loan and a bi-weekly paycheck from my graduate assistantship.  As of today, I have only about $100 in my bank account.  Total.  And about $10 left on my credit card.  How did I let this happen?  I have discovered a weakness I have:  when there is more money in my account, I spend more than I normally would.  Some things that I buy I may really need, like a nice pair of shoes for work.  And yet, I really didn’t need so many clothes and whatever that I used up my entire loan.  

   I had tried to create a spending and crafting plan to save money for a pair of Fluevogs last month.  According to that plan, I have hypothetically saved $300 towards my Fluevogs.  And yet, when they went on sale last week for $200, I didn’t have that much money in my account.  So, while the plan sounded like a good idea, it needs some tweaking.  Because even though the idea was to knit, sew and alter stuff so that I wouldn’t shop as much, I still went shopping every time I had a paycheck.  Even this week, when I realized how tight my money was, I couldn’t resist utilizing some coupons for Express and some extra money I had received for some photography work.  Couple that with the fact that I wasn’t paying attention to what payments had gone through on my account, and I overdrafted.  My bank account has overdraft protection, so I wasn’t penalized, but still.

   My realization is that I have to learn to manage my money again.  I will be posting more about my plan around New Year’s, since my resolution is to learn how to control my spending.  I’m going to set up a budget so that I can make it through the semester and I’m going to tweak my spending/crafting plan so that I can actually save money for essential wardrobe items.  I’m going to learn to think through my purchases more carefully instead of rushing to the mall every time I get a ten dollar off coupon.  I’ve developed an addiction to buying clothes, and I have to learn to control that before I go completely broke.


About Diana

Style maven, knitter, crafter, seamstress, one who does not walk the beaten path.
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3 Responses to Money slips so easily through your fingers

  1. Barbara says:

    Hey there,
    GOod realization. I think its time, we all start to spend money more cautiously.
    PS: I have initiated an idea to create a fashion and style blogroll where bloggers from the jewelry, fashion, style and beauty could participate.
    All you need to do is to add my blog link to your blog and i’ll do the same.
    That way, we could have a mutual partnership and we could refer visitors to each other’s blog.
    Please let me know if you would be interested.

    Barbara and Ellen
    The Gals at SoHo


  2. Sal says:

    You KNOW I feel your pain, lady. I look forward to hearing more about your plan, and completely understand how you got to this spot. Happens to the best of us. 😉


  3. Psyche says:

    Great realization. I wish you nothing but the best with your new plans!


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