Confession

As promised (and to cleanse my conscience!), here are my purchases and additions since starting my Buried Treasures Closet Challenge back in November.

Clockwise From Top-Left: Smart Set; Dynamite; Smart Set; American Eagle; Bluenotes; American Eagle; Spring; Bluenotes.

Total Spending: $134

So you might be thinking to yourself, "did she really need FOUR pairs of new pants?!" or, "did she buy THREE of the same sweater?!"

Not really, and yes. 

I think I've come to realize that by denying myself the pleasure of shopping and then being unleashed on a store, I lose all self control. 

I really need a better strategy.

Pulling a Mel

Once again I have disappeared into the abyss. I’m quite good at this apparently. Life just gets slightly crazy sometimes and hobbies fall to the wayside.

My exam (almost two weeks ago now! Jeez…. ) went well, but instead of buying myself a new pair of shoes as a reward, I “pulled a Mel.” I’m sure that phrase will catch on. The definition?
To do something impulsive in the spur of the moment without thinking of the consequences or impact on your financial situation.

What is it I did? Oh, just bought a new car. Without doing research. Or actually shopping around. I basically pulled into a dealership in the spur of the moment, fell in love with a little red hatchback, and signed the papers then and there. While I love my new little Nissan Versa, money will be tight for the next little while, so no random new shoes for this girl…. Until of course, I “pull a Mel” again.

Monthly Money Check-Up: May 2011

Clothing Budget: $100
Actually Spent: $236

Breakdown:

Verdict: BAD GIRL!
Although I love everything I bought and see them fitting into my wardrobe well, I did go a little overboard. I blame the sudden change to warm weather and the fact that nothing from last summer fits anymore. Also, that trench was a crazy deal marked down from $150. I would have been crazy to pass that up, it's a classic!

Other Frivolous Spending of Note:

Art & Shelving for the house: $97
Spoiling the Animals: $72
Savings Contributions: $250

Future Goals to Save for:

Jersey Shore August 8th: $0/$800

Building a Budget

If you know me in real life, it will come as no surprise that I LOVE Canadian financial guru Gail Vaz Oxlade. She's one of my career idols. This lady just makes SENSE!

The secret to my financial "success"? Her simple rules.
Don't spend more than you make.
Credit cards are the devil.
ALWAYS have savings.

Sounds simple enough, right? But you'd be surprised how many people just don't.
Sure, I'm human and I slip up, spend a little more than I've allocated to category, bring out the credit card for an impulsive buy, but because I have a plan (of sorts) I can always figure it out.

If you have a few minutes, you should check out the resources section on her website. It definitely helped me get my finances in check and plan for the future, something that as a young adult I never thought mattered.

My favorite is her "build a budget" tool. Download the excel version and it does all the calculations for you!