Another set of goals

One of the most frustrating and on-going issues I've dealt with in this so-called adulthood is that of money. I am completely aware that I'm not alone. I'm completely aware too that I have it really good, far far better than millions of people. AND I'm fully aware that I've worked hard to get where am, yet I've made mistakes (often the same ones time and again) to be in this place where I still consider money an issue.

But I've had it. I've probably said it before, but I'm completely serious at this point. Perhaps it's the shift from student to loan-repay-ee. Or the fact that my gently-used-when-purchased Civic is 1 payment away from being mine. And certainly a lot has to do with the fact that I've turned 30.

I've always been meticulous about tracking my income and expenses, but not about staying within the resulting budget. Despite "knowing better", I've yet to build up an emergency fund and thus turn to good old plastic when the need arises (mostly car, travel, and gift-related expenses - not 100% necessary, but from from extravagant...it's all relative).

I had been on track to pay off my credit cards before turning 30 until a big car bill (new tires/brakes) and some emotional splurges around Christmas ratcheted the balances back up. But now, if I stay on track, I'll be paid in full in February. And to be honest, there's no reason why I can't get there. I've got savings accounts going to Christmas expenses, taxes (no more tuition deduction, boo!), and travel and my regular savings account is slowing growing too (in case of another car repair, for example).

The hardest parts - as I've learned through the aforementioned meticulous expense tracking - will be food and gifts. Birthdays, graduations, weddings, babies - there's always something and someone to celebrate. This is evidence of a life filled with people I care about. But being frugally generous seems like a contradiction in terms, doesn't it? And as for food, it's not like I go out to eat at the trendiest spots each week and only grocery shop at Whole Foods. But because I tend towards last minute cooking (if any) and haven't religiously brought my lunch to work in months, my bills to Local Harvest, Schnucks, and downtown "fast" lunches make up a significant portion of my expenses. I know I can do better.

So here are my main goals:

1. Bring lunch every day in August. If someone else wants to treat me, great, otherwise it's brown bag. I've got stacks of recipes I've been meaning to try and most of the necessary staples on hand - I just haven't made cooking a priority with my time.
2. No new credit card charges from August onward - until it's completely paid off in February (or before, who knows!).
3. 50% of all extra cash received channeled towards savings - at least. So if I housesit, bartend, find $20 in a coat pocket, etc., I'm going to immediately deposit half into my regular savings account, or start a new targeted fund in Smarty Pig.
4. Stay on the 10 year plan for my student loans. Sure, consolidating them would lead to about $100 a month in savings but the repayment terms would be at LEAST 15 years, and being done at age 40 doesn't sound too bad at all.
5. Get creative with gifts and "fun" - and remind myself that spending $50+ on someone doesn't make me a better person...it makes me generous, but also broke. I can learn to be more generous with my time and stay on track instead.

I'll post an update on my progress by mid-month. At this point it seems like the cooking part might be the hardest, which is really just silly. I know I can do it - I just have to keep my eyes on the prize: financial stability and peace of mind.