Now that I’m putting parts of my paycheck into bringing down my credit card debt ($150+ a month) and into my savings account ($50-75 a month), I need to plan ahead and save in advance for pretty much everything that is more than $40.
I refuse to put anything else on my credit card, no matter how much I want it or how quickly I can pay it off (I did this with my DSLR, I paid it off with two separate paychecks). Instead, I plan to save for each item. Some items I’ll get sooner than others, but the point is to keep track of my spending and pay in cash. It also helps to set little purchase goals like this to keep one motivated. In my case, when I save for something I really need/want and I achieve my goal, I feel a little less poor and a little more savvy.
The list of items isn’t very long at the moment, but I’m sure things will come up that I didn’t think about, so the shorter it is, the better.
Currently I’m saving up for:
- Bicycle — This isn’t a priority, but I would really like to own my first bicycle.
- Running shoes — I want to invest in a good pair of affordable running shoes to both exercise with and just use for certain outings where I have to walk a lot (shopping, theme parks, running errands, etc).
- MacBook — By far the biggest purchase, and one I’m already saving up for. I plan to pay for this with my tax returns for the most part. I’m also planning to sell my iMac, which is still in great condition.
- Furniture — We need a smaller dining room table, something else to put in the living room besides a two-seater sofa, a new bookcase, plastic storage drawers, and a DVD case.
- Water Filter — We’ve been buying gallons of waters and it’s a complete waste of plastic. A water filter would be a great investment.
That’s about it for now. Once I get a MacBook, I won’t be wanting to buy any more expensive things. By then I’d have a great DSLR camera, a new phone, a car that works, and a laptop that will last me a few years with some great care. These are all things I’ve wanted for years and the laptop is the last item on the list. The best part about finally owning these items is that I’ll be debt free when it’s all said and done (except for the car loan, of course). That day inches closer by the minute.