Saturday, July 10, 2010
They say the first step to recovery is admitting you have a problem. I know I am a shopoholic. So I had already taken the first step years ago. I buy shoes, clothes and accessories compulsively. But other than that I had never really done anything about it other than cutting back when my husband was out of work. Now that we are empty-nesters I have had to take a step back and re-evaluate my life. Do I really need to keep accumulating all these material goods? What plans do I have for the rest of my life?
First was to lay out my priorities for our money:
2. Vacations to visit our cherished friends.
3. Renovations to our home.
These are all really important to me and if I don't stop spending all our money then I can not accomplish these goals. So that means I will have to actually set myself a budget and stick with it.
So today is the first day of my budget. I have three envelopes with each goal on it and I will put a defined amount of money into each envelope each payday. After a few months I will put the accumulations in an Roth IRA for the retirement and use the others as needed for my goals. I think that I am finding that "things" don't always make you happy, but friends and experiences do.
Posted by Peldyn at 9:39 PM