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.....
Life is expensive in the City
March 6th, 2009 at 12:00 am
March 6th, 2009 at 12:18 am 1236298703
March 6th, 2009 at 12:28 am 1236299289
On the savings nest, what about saving up a $1000 Emergency Fund (Dave Ramsey) and then go back to paying off the CCs ?
March 6th, 2009 at 01:23 am 1236302590
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. best wishes.