Finances

I'm pretty good with saving. My 401(k), IRA, 12 months emergency savings (more than the recommended 3-6 months) are all in good shape. Yet I always feel as though I could be saving more. Periodically, I assess my bills, my expenses, and look for fat to trim. I'm the one constantly on the phone with customer service (cable, phone, you name it) asking what deals or discounts they currently offer.

This week, I re-assessed my spending habits and decided I've been too relaxed. My spending's gotten outta control


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Honestly, It's not that bad. About a third of my take home pay goes directly to savings but my goal is to get that to fifty percent.

That's a lofty goal so for now, I've decided to start by restricting my spending. Starting this week, I'm giving myself a spending limit of $100 a week. This will include eating out, home decor (which is the main culprit of my out of control spending), gifts, and the like. I haven't decided if gas for my car will also be included but I think not. That would be taking things too far. My more immediate goal is to increase my monthly savings by about $400-500.

I'll blog about my progress hopefully each week.

Here goes...