Comments on: Daily Debt Journal 15 http://www.debtbeater.org/daily-debt-journal-15/ A case study on paying off all debts Sat, 22 Nov 2008 09:02:49 +0000 http://wordpress.org/?v=2.2.1 By: Mr. Debtbeater http://www.debtbeater.org/daily-debt-journal-15/#comment-9 Mr. Debtbeater Fri, 28 Sep 2007 04:32:52 +0000 http://www.debtbeater.org/daily-debt-journal-15/#comment-9 I'm glad others can relate. It is a good feeling, yet an overwhelming one at times. Thanks for sharing guys! @speedy - We're actually pretty tight trying to get by w/ $600/mo on groceries, and we'll probably have to bump it up to $700 because it's just too tight. I remember the days of sub-$100 budgets, but it certainly didn't have children in the picture. ;) I’m glad others can relate. It is a good feeling, yet an overwhelming one at times. Thanks for sharing guys!

@speedy - We’re actually pretty tight trying to get by w/ $600/mo on groceries, and we’ll probably have to bump it up to $700 because it’s just too tight. I remember the days of sub-$100 budgets, but it certainly didn’t have children in the picture. ;)

]]> By: speedy http://www.debtbeater.org/daily-debt-journal-15/#comment-6 speedy Wed, 26 Sep 2007 11:53:24 +0000 http://www.debtbeater.org/daily-debt-journal-15/#comment-6 I didn't do the step of tracking for three months where my money was going, and so I did not have that "slap in the face" experience. I just set what I considered to be a reasonable budget of $100 per week for gas, groceries, and misc. stuff (I need to buy only food for me and a 62-lb lab/aussie mix dog, in case you are wondering why it's only $100). I just look at it as a challenge -- how can I manage my spending so that I will have extra money left at the end of the week. I always seem to have between $5 and $25 left at the end of the week, and I add this to my savings account. I am more aware now of where my money is going, and I find that I delay purchases and set aside extra money for things. Now I do not just go out and buy clothes. I think about buying something for a while, sometimes over a few weeks or months, and then I make the best purchase I can (which is not necessarily the cheapest option). For example, I held out for a month before buying socks, so that I could buy organic cotton socks made in the USA that were a bit pricier than the foreign-made stuff at the local big box retailer. When I make sure my purchases reflect my values, I do not have regret over what I am buying. When I hear how much people spend on groceries, eating out, and entertainment, I am really surprised. Especially at people who not only watch TV, but PAY to watch TV. I guess that for people who have been spending a lot in the past, it would come as quite a shock to find out where the money goes. I didn’t do the step of tracking for three months where my money was going, and so I did not have that “slap in the face” experience. I just set what I considered to be a reasonable budget of $100 per week for gas, groceries, and misc. stuff (I need to buy only food for me and a 62-lb lab/aussie mix dog, in case you are wondering why it’s only $100). I just look at it as a challenge — how can I manage my spending so that I will have extra money left at the end of the week. I always seem to have between $5 and $25 left at the end of the week, and I add this to my savings account.

I am more aware now of where my money is going, and I find that I delay purchases and set aside extra money for things. Now I do not just go out and buy clothes. I think about buying something for a while, sometimes over a few weeks or months, and then I make the best purchase I can (which is not necessarily the cheapest option). For example, I held out for a month before buying socks, so that I could buy organic cotton socks made in the USA that were a bit pricier than the foreign-made stuff at the local big box retailer. When I make sure my purchases reflect my values, I do not have regret over what I am buying.

When I hear how much people spend on groceries, eating out, and entertainment, I am really surprised. Especially at people who not only watch TV, but PAY to watch TV. I guess that for people who have been spending a lot in the past, it would come as quite a shock to find out where the money goes.

]]> By: Emma http://www.debtbeater.org/daily-debt-journal-15/#comment-5 Emma Tue, 25 Sep 2007 17:17:31 +0000 http://www.debtbeater.org/daily-debt-journal-15/#comment-5 We went through exactly the same thing when we started to account where all of our money went to, and how much we were spending. It does take a while to get used to. The fact that you are so aware of how you are spending your money is a good thing! We went through exactly the same thing when we started to account where all of our money went to, and how much we were spending. It does take a while to get used to. The fact that you are so aware of how you are spending your money is a good thing!

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