Sunday, April 26, 2009

Limit Spending

I am working hard to limit my spending lately. I have wanted to go shopping, but so far I have not let myself. My friends keep talking about how I will have more money to spend once I move since my rent will be decreasing significantly due to having a roommate again. I however, do not intend to spend more money just because my rent will be reduced. I am hoping to save this money. My gas costs will go up a little bit due to having a further drive to work each day. I also plan to give myself a little more for my food budget so I can purchase more fruits and veggies as those are what seem to hurt my budget each month. I am planning to put the rest in savings.

I will also see an increase in my income around the same time as the move, so as of right now I don't know exactly how much more I will be making each month after taxes. I am planning to increase my 401k contributions when my new salary starts.

My hope is to save as much as possible so I can pay my car off early next year. I also want to save to move elsewhere at some point. I am still not set on staying in this area, but I am also not completely sure where I want to move to. I have some ideas, but I don't want to do anything until the economy turns around. It's too big of a risk to take. I am hoping to visit a few more places I am interested in in the next year or two. Moving to a new area would be scary and a challenge, but I don't feel like this area is the ideal place for me. You never know what will happen in the next few years though.

I will post an updated budget once I have a better idea of how much I will be making and what my utility costs will be at the new apartment.

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