Long Story Short's Personal Finance Blog

I have been feeling very stressed out & anxious about all of the gloomy news concerning the economy, not to mention all of the money I have recently lost in the stock market (I know I am not alone here). So I headed off to the mall.

It's a good thing I did not agree to a 'no new clothes' or 'no impulse purchases' challenge. Well, on the clearance rack I saw a shirt I have loved since I saw it, but no way would I pay $49 for it...it was marked down to $6, so of course, I snapped it up. Also bought another shirt for work for $5 (regular $22). So while I did save some money, I guess I really didn't because I bought stuff I didn't really need.

I went to the grocery store last weekend & spent $91, I will try to make that last 4 weeks, if I can. In fact, I'm sure I can...it's just a question of whether or not I will do it. However, I really hate grocery shopping, so chances are good that I will make this food last.

On the savings front, last week I did put $1250 into my 401-K, I put $1000 into my IRA, and $800 into my new HSA!

Last night, I could hardly sleep. I knew Target would have their Christmas stuff 75-80% off. My plan was to get to the store right when it opened & stock up for next year. But wait...I already have plenty of Christmas stuff purchased at the clearance sales from years past. How many bows, wrap, & tags does one person really need? I probably have enough stuff already to last me 3-4 years...and yet, I have a powerful urge to go get more!

I checked my tracking sheet from last year & see that I spent 13.00...ok...This is really hard for me.....so I took $13 out of my purse & put it in an envelope.

Maybe I have started the $20 challenge?

Well, I managed to meet most of my Goals that I set for the year. Maybe by putting this into writing, it will inspire me to continue on...

Maxed out my 401-K ($20,500)

Maxed out my IRA ($5,000)

Long Term Savings ($9,051)

EF ($3,500)-of course this one fluctuates

Opened an ING a/c ($1,140)

Stayed within my budget & tracked all spending.

Took a vacation to Cabo - but it really wasn't worth the money I spent ($2,000)..Probably will not travel this year.

Curbed my impulse purchases somewhat..although I still managed to spend $750 on clothes, shoes & cr*p for the house..stuff I didn't really need.

Saved Christmas money in an envelope all year and paid cash & came in way under budget--so I have a headstart for next yr.

My workplace has put us into an HSA for next year, so now I have another savings vehicle to contribute to.

Ok, having posted this I will continue on this path for 2008, with a bit of tweaking here & there. All-in-all, I think I did pretty good--thanks to everybody on this board for being here--I couldn't have done it without ya!

I received an offer to open a savings account at ING. They will pay me $25.00 & give me a 4.30% rate. I am thinking about doing this & giving it a little kick-start with a deposit of $1000 & then begin making deposits of $100/mo.

This account will be an extra account, I already have my EF & a long term savings a/c. Then, of course, my retirement accounts which are totally separate.

However, I would like to give this account a "purpose". Vacation fund, new car fund, furniture fund?..... Oh well, guess I can figure out that part later! JUST DO IT!!

I ALWAYS bring my lunch to work. I easily save over $100/mo.

Even if I don't have time to really prepare something, I will grab a couple of pieces of fruit, a chicken leg, whatever, and dash out the door, brown bag in hand.

Today was payday and my 401-K contribution comes directly out of my paycheck...It was for $1000...

I know how you are supposed to "stay the course" & "stocks are on sale", etc..but I've also heard about the "falling knife" theory.....so......in view of what has happened recently (the bad investment that lost me so much money)..I just couldn't invest it...

I put it all in Stable Value Fund..It's a mind thing I guess...I really needed to feel like that money is going to stay "whole" for a while....In fact, I may just do this until I have saved enough money to make up the loss...for some reason, that makes me feel better?..we'll see..

I don't usually spend money during the work week...I gas up my car on the weekend (about $40) & do grocery shopping every other weekend (I average about $30/week for groceries and this includes breakfast, lunch and dinner).

I find it's easier to save when I follow a routine..I used to meet friends out at least once a week for dinner & drinks & that usually wound up costing about $50 each time...Now I SAVE my money, and quite honestly, I don't miss the going out. On occasion, I still go, don't want to turn into a total recluse...but I like the "new me" (mini me).

My answering machine has served me well. I purchased it back in the early 80's & it was one of those kind that had the little bitty tapes in it...It finally bit the dust so off to Target I went to try & replace it. (Did you know they don't make them anymore?)

I also had the separate little caller id box..One of the original ones, I'm sure. It was quite a contraption with all the different wires, boxes & phone all hooked up together.

Anyways, I was able to get a new phone, with caller id AND an answering machine (all rolled into one unit) for $30.00!

Geez, talk about living in the dark ages.

Thanks to those who offered encouragement
about my recent investment disaster. It helps!

(My first entry)...Over the last couple of years I have totally re-invented myself, I have gone from being quite a spend-thrift to doing everything right...maxing out my 401-k & my Ira, short term savings, long term savings, emergency fund, sticking to a budget,etc ...

Well, within the last month or so, I made a bad investment, I lost quite a bit of money in one of my retirement accounts, not because the stock market is down, but because the stock/company went kaput! So, I cannot regain this money. It Is Gone!

I am not looking for sympathy, but rather hope by posting about it, I can just take my lumps & move on...I do not want to get in a "why bother" mood & just throw in the towel & go back to my old ways.

I'm challenging myself to keep on keepin' on.