Good call! 15 personal finance tidbits

Kristy from Master Your Card asked for my 15 personal finance habits to round off that 25 Random things about me that I didn’t complete.

Good idea, Kristy.. so here goes!

1. I always make a monthly budget and try my best to stick to it.
Like around $1500/month which gives me about $500 play money, although I must admit, a real budget for me would be $2000 a month, it’s just that I like challenging myself.

2. But I never really deprive myself.
When I was clearing my debt, I had a Starbucks budget. Punishing yourself never works. It just makes you mad and caffeine-deprived.

3. I try not to pay retail because I know the markup is ridiculous.
Stores can slash prices by 80% and still turn a profit! WTF JACOB? Ugh. Makes me sick.

4. So I try to buy less, at a higher quality but for the right price.
I learned this the hard way many times – if you buy cheap, you’re going to pay twice, and cry inside.

5. I believe in saving as much of your income as possible. I have a goal to save 50% of any net income earned. I try to meet that goal as much as possible.

6. I don’t spend money on unnecessary products any longer.
For example, I don’t see the point in shaving cream. I just use soapy suds and shave with that. It’s all marketing, like cold water detergent.

7. I use up everything I can before I buy. I used to stockpile makeup and toiletries. Not any more. I use up what I’ve got. It clears clutter too.

8. I don’t pay for or watch cable TV. All my entertainment is via the internet. I watch Rich Bride Poor Bride on, a guilty pleasure.

9. Being environmentally friendly actually helps the wallet. I know y’all say that buying green is more expensive but it isn’t. You just learn to make do without chemical cleaners and use baking soda, vinegar or lemon juice instead, and I feel healthier without the chemicals assaulting my senses.

10. BF and I cook at home from scratch. Even without BF, I cooked at home all the time.

Saves in the wallet and in the ass.

Win win.

11. I’ve become a minimalist. It wasn’t to save money. It was to avoid seeing so much damn clutter, and I don’t miss any of it for a single second.

12. Compounding interest was my gateway drug into finance. If you ever do the math on compounding interest of what you can earn in 10-40 years with $5000 a year, it’ll blow your mind. Then you make pretty graphs and drool over them at work.

13. Am glad I learned how to budget, track expenses & take control of my finances now. …rather than later especially in light of today’s times.

14. I believe in giving to charity but it isn’t a rule with me.
I don’t have it in my sheet every month, but on average, I do give 15% – 30% to charity. I don’t make it a set rule because then it feels like a burden, or a debt.

15. I’ll never make the same mistakes with my own kids. …that my parents made with me. My kids are going to learn all about their money early on.

There 🙂 15 PF Tidbits from me.

What are some of yours?

About the Author

Just a girl trying to find a balance between being a Shopaholic and a Saver. I cleared $60,000 in 18 months earning $65,000 gross/year. Now I am self-employed, and you can read more about my story here, or visit my other blog: The Everyday Minimalist.