James of DINKs Finance reposted a list of saving tips from Jane Bryant Quinn. It’s a good list and a great way to take stock of where I am.
1) Save all your cash gifts: – Not really doing it, but I hardly get cash gifts anymore.
2) Pay Yourself First: Got the 401K going on. I stopped doing an automated payment to savings from my checking account though. I need to get that started again.
3) Trim Your Spending By 5 Percent: “This is easier said than done.” No kidding. But I am trying this week to cook more and dine out less.
4) Don’t Spend Your Next Raise: I don’t know if I’ll be getting one next year, but this year’s raise allowed me to move my 401K contribution back upwards.
5) Pay Off Your Mortgage Faster: Contemplating this, but I have too much credit card debt.
6) Refinance Your High Interest Loans: Yep! Paying 7.9% and 10% for the credit card debt instead of 15%+.
7) Pay Cash For Everything: I am trying this out and so far it is working pretty well for me.
Stop Buying Books: I think I’ve spent less, but I know that in the past 2 months, I’ve read about 6 books for fun and only bought one of them. I did buy another, but it was a tech book for work, which could be tax deductible, but is not because of the threshold amount.
9) Pay off Your Car and Save The Payment Money: The car is paid off, but I am not saving the payment money for another car. Instead, I’m saving it in my 401K! WOO HOO!
So according to her, I seem to be doing ok, which is good. I need the reminder that I’m doing a LOT better than I used to be. Looking at where I was 3 years ago when I purchased my condo, I’m doing well. When I compare to 5 years ago, I’m doing FANTASTIC. Sometimes all I need is some perspective on my activities because lately I’ve been feeling a bit down about money.
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