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Life is expensive in the City

March 5th, 2009 at 04:00 pm

Its seems to me that as the weeks go by, I haven't made much progress in being able to save anything.

I think regardless of where you stand in the socio-ecnomic ladder, if you don't learn some real financial discipline, you will always be in financial trouble.

I, for example, have the impression that if I earned a little more, could potentially pay of the significant amount of credit cards debt I have a lot faster.

I am working on paying as much as I can each month. I have set the goal of making at least $500 of principal payment each month. For the last three months, it has worked out great.

But changes in life and in circumstances lead me to believe that I should also be attempting to build up a small nest of savings.
I have nothing at the moment, which at times scares me a little.

I am basically living pay check to pay check. Who isn't?

This coming month, I need to revisit my priorities and see where things can be cut.

I, too, need to restructure my finances, but unlike GM or FORD, I can't go bankrupt, otherwise I will end up on the street.

Financial knowledge will definitely be something I will be teaching my baby once he or she grows up.

(I don't yet know if it is a boy or a girls) Its too early.....

3 Responses to “Life is expensive in the City”

  1. Joan.of.the.Arch Says:

    You are going to be a daddy?! Oh happy, happy! You will love it!

  2. Apprentice Fun-Frugalist Says:

    Congratulations on your future fatherhood !! There is a treasure coming worth more than any amount of money !!

    On the savings nest, what about saving up a $1000 Emergency Fund (Dave Ramsey) and then go back to paying off the CCs ?

  3. whitestripe Says:

    maybe a budget/spending overhaul is in order. look at everything you are spending and whether you need it now. especially with a son or daughter on the way, you need to look at not living paycheck to paycheck. Smile best wishes.

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