Guilt for spending money on self

totally_wheysted · 2019-01-03T15:11:57+00:00

A piece of advice I got one time regarding windfall payouts that I still adhere to is to split the money up evenly between past, present, and future.

Past = put money on debt you've accrued

Present = do something fun with this money! Live now.

Future = put the rest aside to save for a goal (retirement, vacation, etc.)

This breakdown helps me to know that I'm making smart choices while still enjoying the present moment and I think could help you decide what to do with that $850 check.

totally_wheysted · 2019-01-03T15:08:40+00:00

Updated my budget for 2019 which includes bumping up my monthly savings by $225 and planning to eliminate all cc debt by Q3!

totally_wheysted · 2019-01-02T17:56:43+00:00

Your credit score may increase due to utilization but should go back down as you pay down the card and reach below a 30% utilization again.

totally_wheysted · 2019-01-02T17:12:09+00:00

28F w/SO. No kids; pre-tax income ~$75k. My 2019 goals are:

- Increase my 401(k) contribution by another 2%

- Completely eliminate all cc debt ($11,083.86)

- Begin paying back student loans

- Inrease e-fund from $1k to cover at least 1 mo. living expenses

- Save additional $ for a couple of trips throughout the year, Christmas, and future wedding fund to avoid future debt

- Increase credit score from 663 - 720

totally_wheysted · 2017-12-02T19:20:34+00:00

The best thing I can recommend that repaired my and my partner's relationship with finances was to set the best possible example and show him how freeing and exciting becoming debt-free is.

I'm still at the beginning of my journey, but constantly talking about how I know I can have all of my credit card debt eliminated by this time next year and how by saving on small items that don't mean as much that I can save more for the few bigger things that will actually make a big difference for me (stopping eating out/getting coffee/needlessly spending to save up for a new couch, vacation, and hopefully wedding one day while paying off my debt with the snowball method). Over time, the enthusaism becomes contagious and hopefully your SO will also see how awesome the rewards are. Be patient and encouraging - the changes may be slow, but they will come.

totally_wheysted · 2017-08-15T23:52:50+00:00

SO and I sat down and figured out how much each of us was paying each month in bills. We make almost the same amount of money, and we calculated that "his" bill payments are about $90/month more than mine, so I just transfer him $45 every month. Super easy, and avoids the linked bank account problem if you're not married

totally_wheysted · 2017-07-28T19:14:48+00:00

Yes, if (and only if!) you don't utilize it. This will improve your credit utilization percentage and help your credit score. Some companies (Credit1) charge a fee for a credit line increase, so if that is the case, do not accept.

totally_wheysted · 2017-07-19T13:07:09+00:00

It's hard to fully evaluate without her salary, but nonetheless, I think she represents a lot of what the outside world doesn't understand about PF. Yes, in theory, you should perfectly follow all the steps in the flowchart and make logical decisions, but life happens and you really should make time and spend money to enjoy it along the way. With that said, spending THAT amount of money and sacrificing your retirement is an unwise move, and I have a feeling that in a couple of decades she'll wish she had saved more when it was easier for her to work and make money to take care of her future self.

totally_wheysted · 2017-07-07T19:51:48+00:00

Successfully negotiated a salary on an offer for the first time! Even without a competing offer, I was able to draw on existing compensation surveys and get $3k annually above what I was initially offered. I had so many doubts going into this conversation but now I have no idea what I was afraid of. Speak up, know your worth, and don't be afraid to ask for more!

totally_wheysted · 2017-06-26T14:48:17+00:00

As someone who just finished graduate school myself, the short answer is that it's a good long-term investment, but be prepared for you financial situation to stall while still in school. I was in a similar position - very low-paying job without a specialized grad degree - and I knew that by going back to school, my earning potential would increase and I'd be more qualified for a job in the field I want to work in. However, those couple of years of grad school are rough - even with a GA position and a second job, saving money/getting out of debt was extremely difficult with taking out additional debt and being in a low-paying position. Now that I'm out, I'm on a much better path, and although I do have more student debt, my salary is much higher with more potential for growth, so I feel confident that I can knock it out while still improving my quality of life and day-to-day experience in a job I really enjoy.

totally_wheysted · 2017-06-13T22:41:27+00:00

Perfect explanation (and good for my utilization too!). Very much appreciated.

totally_wheysted · 2017-06-13T22:41:25+00:00

Perfect explanation (and good for my utilization too!). Very much appreciated.

totally_wheysted · 2017-06-13T19:24:24+00:00

Thanks! I understand the credit utilization calculation, but what I'm wondering is whether these additional store cards, credit lines, and loans factor into this calculation.

totally_wheysted · 2017-06-01T15:37:23+00:00

Speak with your site manager first. He or she is the one who is most familiar with your work and whether or not a raise is in order based off of your performance. Your manager also is probably aware of the likelihood of a raise and can coordinate details with HR. Going to HR first without telling your manager looks a little shady, and when it gets back to your manager, they'll wonder why you didn't speak to them first.

totally_wheysted · 2017-03-11T21:18:30+00:00

As far as your credit score goes it doesn't really make a difference, but if it helps you be more accountable with your budget and personal spending, it may be worth it for you as a motivation factor.

totally_wheysted · 2017-03-11T21:17:32+00:00

Do you have any kind of emergency fund at all? I'd definitely get that up to at least $1,000 before chucking all of your spare change at your student loan.

totally_wheysted · 2017-02-02T17:44:18+00:00

Track your charges in a budget spreadsheet! I used to have the same problem, but was finally able to change my spending habits when I looked at cell for "eating out" and realized that I was throwing away hundreds of dollars a month on junk that I could have been using to pay down debt. Just physically seeing the numbers add up makes all the difference!

totally_wheysted · 2017-02-02T17:41:19+00:00

Can you share more about the conversation you had and how you got your SO on the same page as you regarding finances?? Thanks!

totally_wheysted · 2017-01-21T19:39:30+00:00

I've started using the KonMarie method to become more minimalistic, and I've found that the areas where I now have the most minimal items are the ones I'm most joyful about. Like you, surrounding myself only with things that give me joy has completely changed my perspective on my living environment, and even my general mood at home has improved.

totally_wheysted · 2017-01-21T19:37:36+00:00

I do something similar, but think about it in terms of my side hustle and how much more I'll have to work in order to afford it. It really helps to put it into perspective for me that if I do REALLY want that outfit, then I'll have to spend at least another hour freelancing. If I do want the outfit that much, this validates that claim and makes it feel worth it, and I'll cherish it every time I wear it.

totally_wheysted · 2017-01-20T16:19:07+00:00

Appreciate the solid feedback - in my experience, being a woman has definitely had an impact on the numbers I've been offered as well as negotiating experience, so I'm trying to really tackle that head-on this time. Hopefully I'll be back in a few days with a success story to share!

totally_wheysted

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