#8 Reduce (your spending)

What do you spend your money on.
Today I spent money on.....

Getting dressed, those clothes cost money. The shower and hair and make up cost money. The incense I burned while getting ready cost money. The rent, water, electricity, and insurance that is invested in my apartment. The computer I own and the songs I listened on on iTunes, that I downloaded from the internet that cost money. My car I drove in, the CD I bought at the concert I went to the night before, the gas, insurance and maintenance, Starbucks Breakfast, and my cell phone I talked to my mom on, and updated twitter by. And this was only by 8:45am!!!!!  I'll spare you the rest.

Compared to most of my friends, I'm ridiculously aware and usually tend to be on the side of frugal... except when I really want a Persian rug that was made for me. But look at how much money goes into my life, I am always spending money, even if indirectly. And I take it all for granted. Everything costs [somebody] something. And even in trying to simplify your life, it still comes with a cost.

And even though more affordable than most, Nashville is a HARD city to save money in, because everything costs money, and everyone spends money, and a lot of people spend their family's money, and it's just HARD to do the freebies. And those $5-10 ventures that are available on a nightly basis, well... they add up!  According to the Business Journal, Nashville is ranked one of the top spenders in America! "The average Nashville household spends more freely that San Franciscans. More than Washington, D.C., residents. More than New Yorkers." (Read more: Analysis: Nashvillians among nation's biggest spenders - Nashville Business Journal: ). Yikes!

I don't think there's ANYTHING wrong with spending money that you have. Read that again. There's nothing wrong with spending money that you have, we cant take our money to the grave, but neither our possessions. And if we aren't living within our means are we really able to enjoy the freedom that comes with being a good steward?

I'm no pro, I'm not a financial adviser, and I do not claim to be. But thankfully my dad and some other people in my life have taught me valuable lessons and been great examples that I try to watch and live by. It's not easy, and I'm not great or even good at it. But I try to get better each day. I'm learning.

-Tithe 10%, first and foremost
-Save 10%, emergencies always happen, try to have 3months of your financial obligations in savings just in case
-Spend 10% on others, or 10% of your time/talent.
-Pay your bills first

-If you can't afford to tip, you can't afford to eat out
-If you can't afford to insure it, you can't afford to have it
-Pay for it in full, you don't want to be making payments longer than you have the product
-(as stated in a prior blog) leave the store, you will come back if you want it
-Spend money in local ways, putting money BACK into our local economy, (see post: 350project)

-SAY NO NOW, SO YOU CAN SAY YES LATER (and this is so true in other areas of life as well).

Anyways, those are basics that I try to keep in mind. they aren't necessarily "rules" but good reminders, or guidelines to spend within, with allowing room for flexibility. Splurging when able; treat yourself and keep your friends and sanity, but have self control. It's hard to say no, especially when you're on a tighter budget than others. But I've learned that if you are willing not to unnecessarily spend money, or are working within a budget, many others are too. And if you save up a little, you can say yes to better things and enjoy them more because they are a treat! It's a matter of perspective, aye?

I don't want to be 'wealthy' by any means, but I want to be financially free so that I can have a more simple and fulfilling [Christ/others focused] life, rather than just the weary obligations of paying off stupid debts.  It sucks now, esp paying off school loans from a private college. But as my dad says.. how do you eat an elephant? one bite at a time. 



Lord, help me to be a better steward of my time and money. 

 

oh... and www.mint.com is a helpful way to keep track of your spending too,..... if you remember to log in. :) Check it out.