While writing this, I'm going to be careful not to sound too preachy or anything like that, because I'm still figuring this out for myself.
Hello, my name is Lynn and I love to shop. I am NOT financially responsible. I often spend money without thinking about it. Sometimes, I even "pre-spend" money that I'm expecting on my next paycheck. Yes, some of my purchases are necessary, but the majority are not. As I write this post, I have 4 tabs open of things I'm eyeing to buy online.
They say that admitting you have a problem is the first step towards recovering. Well, I'm ready to change and I have a plan.
I'm going to stick to the following financial tips:
1. I will write down every purchase I make: My online banking tracks this for me, but writing down a description like "$31.25 for Lilly planner" helps to make my spending more concrete.
2. I will assess the cost-per-use of my purchases: I think this is an important tip. A $50 J. Crew cardigan may be a larger up-front investment. However, I will wear the cardigan 30+ times just this season. That works out to just $1.66 per use. As the cost gets closer to $0, the purchase is smarter.
3. I will make shopping lists: This is a no-brainer. I love Target and it is so easy to walk out with $100 of stuff when all I needed was shampoo. I hope that making a list will help me be more responsible.
4. I will stop pre-spending my money: I will stop planning for the money I will have and start focusing on the money I have now.
5. I will stick to my financial goals: Every school year, I pledge to keep a certain amount of money in my savings account. This year, I will write down that goal and stick to it throughout the semester.
Through all of these, I hope I can see some signs of improvement. After all, I am becoming a "real" adult #terrifying #wheredidmychildhoodgo
XO Lynn
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