Comments on: Can You Afford Your Life?

By: Eric Hamm

Eric Hamm — Wed, 25 Feb 2009 00:19:39 +0000

@MissReaux: No, you’re not alone. I’m glad you were able to relate and I hope to bring future content to help us both in the is area. Eric

By: MissReaux

MissReaux — Tue, 24 Feb 2009 13:32:40 +0000

Hi! Thanks so much for this site! Makes me feel better to know that someone else is going through the process of starting over financially and making a fresh start. I'm on a similar journey. Looking forward to following your progress! MissReaux’s last blog post..Starting Over Financially

By: Eric Hamm

Eric Hamm — Thu, 22 Jan 2009 03:29:57 +0000

@Greg: That’s awesome! We’ll knock this out together! Eric

By: Greg Syferd

Greg Syferd — Thu, 22 Jan 2009 01:57:12 +0000

Eric,

I too am just beginning this journey. I am looking forward to seeing your progress!

By: Eric Hamm

Eric Hamm — Fri, 16 Jan 2009 00:37:35 +0000

@Kay: I’m SO with you on this one! It’s a vicious cycle and one I’m ready to rid myself of. Stay tuned as we explore more ways to break free from this unnecessary burden.

@Tess: Exactly! Turn a phrase of frustration into a declaration of positive change. Eric

By: Tess Marshall

Tess Marshall — Thu, 15 Jan 2009 22:44:55 +0000

Kay, Shift to "I'm glad I have this opportunity to learn. It's so exciting to take responsibility for my finances." This single thing will empower you more than you realize! Tess Marshall’s last blog post..12 Bold Ideas For a Happy Marriage

By: Kay

Kay — Thu, 15 Jan 2009 22:38:46 +0000

Some of the best advice I ever got:

Never love something or someone that can’t love you back.

But even knowing that I love my purses and shoes…. all that stuff I think I have to have. And then one day you’re working 70 hours a week and dropping your baby off at day care and with grandmothers, wondering why you have to work so much. Suddenly I look at all my stuff as an albatross, a burden of my own making. It’s a vicious cycle, though, because when my bank acocunt goes back up, do I put it in savings? No, I go buy more stuff.

Glad I’m not the only one going through this.

By: Eric Hamm

Eric Hamm — Thu, 15 Jan 2009 21:21:29 +0000

@Tess: Wow Tess! Thanks for all the insight! Great stuff! Buying the latest and greatest tech gadget gets me every time.

@Vincent: Thanks for the encouragement, Vincent!

@V. Higgins: Wow! More awesome tips. Thanks!

“Controlling my finances instead of them controlling me has been a great ride!!”

I love this line! And giving yourself an allowance is certainly key. I appreciate you taking the time to share. Eric

By: Tess Marshall

Tess Marshall — Thu, 15 Jan 2009 18:35:36 +0000

V.
Sounds like you’re progression is snowballing! How exciting.

The magazines & advertising also give the message that your body isn’t good enough. Fashion are the worst!

Also any mag you want to read you can get at the library free.

The only thing I would add is to shift your perception on this one sentence. (maybe it’s the way I’m interpreting it.)

Other people are going throught the same thing-I interpret this to mean it helps that others have to cut down as well, so poor me I’m not alone.

Also what helps is to view cutting back as a postive change, I’m saving money which will positively effect the rest of my life.

“Wow look how we are all being smart about our money. Isn’t this great and exciting.” It helps shift from poor me I can’t have that.

I agree with the pay yourself an allowance as well. What a wonderful way you have begun your life together.

Tess Marshall’s last blog post..12 Bold Ideas For a Happy Marriage

By: V. Higgins

V. Higgins — Thu, 15 Jan 2009 16:28:35 +0000

Good for you! I was rather pushed in front of the ‘taking over your finances’ train just over a year ago. I had just graduated college, had about $5000 in CC debt and was attempting to pay for a wedding while my fiance was finishing school (my parents wouldn’t help and his parents couldn’t afford to). I finally realized I was done trying to live up to this ideal I thought I had to be by spending money I didn’t have. I buckled down, saved up and gave up A LOT. I worried at first that I would resent all that I gave, but I don’t. Controlling my finances instead of them controlling me has been a great ride!!
A couple things that have helped me and continue to keep me on the frugality train are the following:
– STOP BUYING MAGAZINES! I used to buy fashion magazines and I would always get the worst case of the ‘wants’ afterwards. 50% of those magazines are ads designed to make you feel like your life isn’t complete without the newest gadget/shoe style/beauty product/home thingy. Avoid advertising as much as possible!! Cancel catalogs (they’re a waste of paper anyway), limit your TV time (or mute the commercials), stay away from the mall. Doing these things will also free up precious time.
– Find good personal finance blogs. Having constant reminders/tips and knowing other people are going through the same thing is such an encouragement and can help keep you from making common mistakes. One of my favorites is Get Rich Slowly, it’s awesome!
– Give yourself an allowance! If you don’t let yourself have a little bit of fudge money to get little things, you’re going to have a much bigger temptation to buy those big things when you have an inflow of money. This lets you enjoy the little things in a life (occasional Starbucks/Jamba Juice anyone?) without breaking the budget. I have $25 a week and it lets me splurge on a new pair of shoes/lunch out or whatever.
We were able to pay for our beautiful wedding without borrowing anything and am within sight of eliminating all of my CC debt, next up are the student loans! This has been great for my personal life as well as my relationship with my husband.
Good luck on the ride and we’re cheering you on!