You’ve Been Laid Off- Now What?

April 21, 2009 Leave a comment

If you have not received notice of a layoff, I recommend reading this article about what you can do in order to get your finances in order now to prepare yourself for future hardships.  If you are looking for ideas about how to improve your odds of protecting yourself against being laid off, check out this article.

What if it is too late for preparation and you have already lost your job or will be in the near future?  What can you do to improve your situation?

"Fog Laden Trail" by luketallguy @ FlickrThe first step you need to take is to enroll in unemployment benefits as soon as possible.  It takes time to get your claim set up and ready to pay out, so doing this as early as possible is a good idea.  While unemployment benefits do not replace 100% of your income from your job, it will supplement your savings so that you can pay the bills.

Now that your income is reduced and you will be living off of savings and unemployment, your budget needs to be updated.  Once you have figured out how much money you will be receiving through unemployment as well as how much you can afford to withdraw from your savings account, set up a budget that reflects this lower income.

With your reduced income you should be thinking about ways that you can cut your expenses.  Here are some quick ways to reduce your expenses by $100 or more each month:

     -Eliminate text messaging from your cell phone

     -Discontinue your cable & Internet services

     -Sell your liabilities (the extra car, motorcycle, boat, time share)

One of the most important things that you should do is to roll-over your 401(k) into an IRA account.  There is nothing worse than cashing out your retirement savings for a couple of different reasons.  The first is the tax consequences of taking a distribution.  You will be responsible for paying taxes on the money as well as an early withdrawal fee, equal to 10% of the account balance.  By taking this money now, you are throwing money away.  Another reason not to withdrawal this money is that you can’t make up for the lost time.  Check out this article about the power of compounding interest to get an idea of how a small amount of money can mushroom to a significant amount of money given a little time.  You’ve already planted the seed, nurture it and let it grow.

You will have plenty of time on your hands after you’ve been laid off so use that time to your advantage and update your resume.  As a laid off employee, you may be eligible for resume workshops through your local Job Center.  Take advantage of these services.

Now would also be a great time to further your education.  Enroll in a community college and work towards earning a degree.  Even if you aren’t sure what you want to go to school for, take your general courses so that you can begin on the path towards earning a degree.  If you are not interested in earning a degree, find out about auditing classes.  Educating yourself is the best thing you can do for yourself.  Future employers will respond to someone who works to better themselves, and school is a powerful way to do that.

Don’t forget to look towards your social network for support.  Take the time to focus on the relationships and build upon them to make them better and stronger.  Your friends are the most valuable asset and resource in your life; don’t forget to invest in them.

Finally, remember that even though you have been laid off, you have the right to enjoy yourself.  Get out and have some fun with your free time.  Follow your passions and enjoy your hobbies.  Don’t spend the entire time feeling sorry for yourself while you sit on the sofa watching television.  Enjoy your time away from the daily grind and enjoy your life!

 

Filed under Employment

Goal #53) Adopt a Highway

April 20, 2009 3 Comments

"Historic Highway, Autumn Study #1" by LiefPhotos.com @ FlickrI have been working on finalizing my application for the Adopt a Highway Program for about 2 months.  I finally have good news; my application has been accepted and I am now responsible for a 2 mile stretch on one of the busiest highways in the area.  While there is still no sign in the ground staking my claim, I did receive notification of where my area of responsibility is.  My basic responsibility is to keep the highway clean and organize a minimum of 3 clean-up dates throughout the summer.

The first of these clean-ups will be taking place Sunday,  April 26 at 12:00 pm.  Anyone who is interested in participating in the clean-up should feel free to contact me.  An alternate date will be scheduled if the weather turns out to be bad.

Adopting a highway may seem like an odd goal to accomplish, but it is my small way of contributing to my community and to the health of our planet.  I think it is important that we all play our part in making this world a better place to live, and if that means picking trash up on the side of the road, then so be it and all the better.

Expect an update about how our first clean-up goes.  Even though we are picking up trash, I expect it to be a fun and productive event.

Filed under Accomplishments, Environment, Goal Updates

Why Social Networking Doesn’t Work

April 19, 2009 7 Comments

"Handshake" by galleryquantum @ FlickrThere are countless websites discussing the proper way of networking and how to use those contacts to your advantage.  For many people these tips are garbage.  On a very basic level, they may be useful but for the vast majority of folks, networking in the typical sense of the word doesn’t apply.

There are social groups which host events at which people get together for the sole purpose of meeting strangers in order to expand their “network”.  Introductions are made, hands are shook and business cards are exchanged.  The people participating in these events will add their new “contact” to their list for the possibility of needing that person for something in the future.

I don’t like that idea of networking.  It doesn’t work for me and I would guess that it doesn’t work for the vast majority of people.  There is something impersonal about all of this.  People collect contact information, make a note on the back of the card about who the person is and then if they ever need something from this person, they give them a call.

If there were someone with whom I had encountered in passing and then months later received a phone call from asking for a favor, I wouldn’t be inclined to help.  Maybe it is just me, but that isn’t what networking is all about.  In some circles this may be acceptable and expected, but I would rather form relationships with people, make friends and share hobbies and interests with people before I would consider asking them for any sort of favor or help.

The other day I was wasting time on Facebook and I realized that I had “friends” that I never talked to and hadn’t seen in years.  They were old classmates and though I had spoke with them in the past, I hadn’t in years and having them on Facebook didn’t seem necessary anymore.  Most networking advice would say that having a lot of connections on Facebook, MySpace, LinkedIn would be a great thing, something which is desirable.  Not I.  I began clicking the delete button and went from over 150 friends down to 30.  By some people’s standards, I had just committed social suicide.

I look at it differently.  Those 120 people who I deleted were not contacts.  They were not friends.  They were simply people with whom my path had crossed.  The 30 people left on my profile are people with whom I have real relationships and are part of my life in some way.  Just 1 of these 30 contacts is more meaningful and beneficial to me than all of the other 120 people combined because these are people that I know I could call up and ask for anything and they would do whatever they could in order to give their help, advice or time.

That is the beauty of the way I look at networking.  My idea of networking is forming relationships, bonds and connections, not just gathering as many phone numbers as I can in case I may need to make a cold call in time of need.  With my contacts, no matter how rough the seas may become during my journey of life, I know I can count on these people for anything.  Maybe in times like these it is time to reconsider our networking approach and get back to the basics of building friendships with people you have something in common with.

Here are some of my networking tips:

1) Introduce yourself- The first step to forming relationships is to introduce yourself.  A great way of doing this is through mutual friends.  You can also attend events which you are interested in and introduce yourself to people at these events.  You already know you have something in common, maybe a hobby or passion. 

2) Be a friend- If you want friends you need to be a friend.  What does it mean to be a friend?  See 3 and 4.

3) Spend time together- Once you have developed a connection with someone you need to take time to do something together.  Invite them over for a barbecue or organize a softball game at a local park.  Use a common interest or hobby as a reason to get together.

4) Give- Networking and making friends isn’t just about you and how you can benefit from the relationship.  You should be willing to lend a hand or offer advice in a time of need.  If you are only considering yourself, people will see through that and you will be left in the cold.

Networking isn’t about how many contacts you can collect, it is about how meaningful and lasting those connections are.  One good contact can be worth 100 poor contacts.  Not only will they help you in a time of need, but will also bring you companionship in life.

Filed under Networking

Unemployment

April 18, 2009 3 Comments

"Mountain Mist" by D L Ennis @ FlickrI have been discussing the possibility of being laid off for quite some time and finally the day came on Thursday.  When I arrived at work I was tipped off before I ever even made it in the door that there was another layoff, this time affecting 54 people.  This meant that I would be on the list of those being let go.  My supervisor told me that I would need to meet with an HR representative to go over some information concerning the layoff process and benefits.

The volume of our work has dropped significantly and future orders are anemic.  The company announced a cost savings initiative which included reduced salaries, shortened work weeks and the company suspended its 401(k) match.  Further layoffs should not have come as a surprise for anyone, but for many it was.

I have been preparing myself for this moment for quite some time and have been making as many steps as possible in order to get my finances in order to minimize the impact of a layoff on my life.  I stepped up my debt reduction plan and managed to eliminate my credit card debt by the end of February.  At the same time, I built up my savings and Emergency Fund however, my savings account was drained as a result of automobile maintenance.

Fortunately I will be eligible for unemployment benefits while I finish out my last couple of weeks of school.  I still have intentions of relocating in order to further my education in a few months.  Although my income will be slashed, I have reduced my expenses significantly and will be able to save some money to help finance the trip.

Despite the reduced income, there is a bright side to all of this; time.  I will be able to focus my attention on school as my final exams are fast approaching and having more time to study will give me more opportunity to pass my classes with high marks.  I am currently carrying an A- average in my classes, so I hope to be able to keep this average through until the end.  It would be nice to complete my Associate Degree on a high note.

More time will also allow me to pursue other areas of interest such as reading, exercising, bicycling, and hiking.  My schedule now does not allow for much free time to focus on these areas.  I have some arrangements to do some traveling in Central America in order to practice my Spanish.  Despite being unemployed and out of school it is crucial that I continue to improve my skills and abilities in order to make myself more marketable. 

I have a fundamental belief that life is not about a dollar bill but rather our experiences, so while I won’t have as much money as before, I don’t feel as though this is the end of the world.  Quite the contrary, I feel that it is a great opportunity to realign myself and set out on a new journey, one that will ultimately lead me to a life of doing what makes me happy, which I haven’t been happy in my current position for quite some time.

I wrote yesterday about how we are slaves to the dollar, and I am not an exception.  Having a steady income was able to provide me a comfortable lifestyle, with nice things, but I was dissatisfied with my job.  I was burning out.  Being let go is a relief in many ways.  For those people who have been laid off, I encourage you to do what you can to find a silver lining in all of this.

Now would be a good time to re-evaluate your spending plan.  Create a new budget and trim the fat so that you are able to survive.  It may take some sacrifice, and for some people it may seem more like triage, but it is an opportunity to refocus your priorities and find what is truly important in life.  After a while I believe that money won’t be the primary concern, but rather happiness and satisfaction will be the driving force that motivates our decisions.

Filed under Economy, Employment, Money

Master of Our Own Slavery

April 17, 2009 6 Comments

"Old Slave Bell" by Schalk Marais @ FlickrIn the not so distant past there was a distinct line between the slave and his or her master.  The slave was considered to be less than human, more closely related to the horse or oxen than to a human being.  They were there to harvest the crops and tend to the chores around the home.  Eventually, common sense prevailed and slavery was abolished, however slavery continues today in a more subtle form and of our own making.  We have become the slave and the master.

Everyday throughout this country, people force themselves to show up for work at a job they loathe.  They do it because they feel as though they have to.  There is no other choice than to suffer through another day, another week, in order to get that paycheck in their hands so they can put food on the table, a roof over their head and clothes on their back.

What people fail to realize is that their money isn’t being spent only on basic necessities such as food, shelter and clothes.  We buy expensive cars, motorcycles, boats, flat-screen televisions, iPods, iPhones, CDs, DVDs, Blue Ray, green rays, plasma rays, death rays, fast food, Aqua Globes, Snuggies, gym memberships, touch screen car stereos, vacations, shopping sprees, designer jeans, perfume, cologne, teeth whitening systems…

If we didn’t buy all of this unnecessary Stuff, just how much less time would we need to be slaves in a job where we are unhappy solely for the purpose of financing all of the things we buy but don’t actually need?  I live a pretty basic life today compared to how I used to.  Sure, I still spend money and enjoy my life, but I do it more responsibly.  I think about how I am spending my money and how it will affect my future.  I consider whether or not what I am purchasing will add value to my life or if it will end up on eBay or a landfill before I buy it.  I used to blow my entire paycheck buying things like DVDs and CDs.  I didn’t have a penny saved, but I had a lot of Stuff sitting around my apartment, collecting dust.  At least I had something to show for all of my hard work, right?

While I did have a lot of things as a result of my ability to spend frivolously, none of it added value to my life.  I may have been entertained while watching a movie, but wouldn’t I have been just as entertained had I rented it or borrowed it from a friend?  Of course I would have and I would have saved myself about $15 in the process, but I wouldn’t have anything to show for my work.

Every single week of my life I have $82 withdrawn from my checking account to make my car payment.  That is money that I never see, it is just gone;  $328 in after tax money each month.  That is over 33 hours worth of work just to pay for a car (net income divided by a 40 hour work week), which is used primarily to take me to work.  Sweet irony.

Many people don’t consider how much money they actually bring home.  A person may gross $40,000 a year but thanks to Federal Taxes, State Taxes, FICA, medical and dental insurance, 401(k) contributions, alimony and whatever else a person may have deducted from their earnings, their checks don’t amount to $40,000 at the end of the year.  People rationalize to themselves that buying a $20 DVD is only an hour and a half of work, but in reality is more than that because you are paying with after tax dollars.

We are spending ourselves into a situation where we really do need that job that we hate so much because now we have a mortgage, a car loan, consumer credit card debt and we keep spending more and more on things we don’t need.  We are the masters to our own slavery.  Until we are able to break ourselves of these spending habits we will continue to rely on a job that doesn’t make us happy.  We will continue to shuffle our feet through the door of a company which doesn’t allow the personal freedom or creativity we desire in a job.

We may as well be pulling a plow across the earth like our ancestors.  The major difference between then and now is there wasn’t a choice in the past but today there is, and we are our own masters.  Whenever you feel like it is time to break free from the chains of slavery, you are in control to make that decision.  The more debt you accumulate and each dollar you waste is another day of slavery.  It doesn’t need to be that way…break free.

Filed under Consumerism, Debt, Employment, Freedom, Motivation, Prioritizing, Savings, Spending

Life After a Layoff

April 16, 2009 Leave a comment

Layoffs have become a daily reality across the country.  Many of us have been affected by a layoff either directly or indirectly or know someone personally who has lost his or her job.  While browsing a message board pertaining to the company for which I work, I came across something written by a former employee which I feel is absolute truth, a silver lining in the clouds (edited for clarity, anonymity and emphasis):

"Approaching Storm Clouds" by Intrepid Lady @ Flickr“As someone who [has been laid off], this is a note to the ones who are being let go now.

Life goes on.  It is TOO easy to measure your self-worth in this world by your job.  You have [some time of feeling disoriented,] but after that, your sails will fill again and you will be off in a different direction.

As for myself, I have been meaning for years to start my own business and this shove towards that has been a good thing. If this didn’t happen, then I may have never done it.  I am taking this opportunity to build something long term for myself and my family that has nothing to do with the cozy interior of a big company.  I have not felt this alive in many years.  I would be lying if I said it was easy, because it is not.  But that is where the juice comes from; taking a chance, believing in yourself.

Re-invent yourself and go forward.  There is something better on the other side of the next door.  I promise.”

For those of us who are facing the potential of losing our jobs in the very near future, it is hard to imagine such a positive future from something so seemingly devastating as a job loss.  I do feel that there will be a sense of insecurity and fear when the next layoff is announced, but it isn’t the end of the world.  Life will go on and it may have been for the better.

Filed under Employment, Hope, Potential

“You Can’t Save the World”

April 15, 2009 Leave a comment

I would describe myself as being an ambitious person.  Sure, I have my mornings where I’d rather stay in bed and ignore the influences of the world but for the most part I try to do all that I can in order to be a productive person and improve the space in which I am inhabiting.

Despite my ambitions, there are times when I feel as though my efforts are as effective as screaming into the Grand Canyon. 

"Globe Collection" by girlhula @ FlickrI separate my recyclables from the trash while I watch my neighbors dragging out their garbage but no recycling bins.  Then I wonder if my recyclables will even make it to any recycling facility.

I have been eating more fruits and vegetables for health reasons but wonder if my actions are as environmentally responsible as some people would want us to believe.  In order to grow our vegetables we fertilize our soils and eventually these nutrients find themselves flowing into the Gulf of Mexico, creating a dead zone where no life is able to be supported.

I try to conserve water by turning the faucet off while brushing my teeth, but my showers are too long.  I know that I don’t need to stand there with the hot water spraying on me, but it is my way of washing away the day physically and mentally.

There are countless areas in my life in which my efforts seem to be neutralized by my own actions or those of others.  I exercise as often as possible but will find myself snacking on junk food a couple of hours later.  I don’t use paper towels, but my girlfriend does.  I ride my bike to work, but drive more often.  I use rechargeable batteries but leave a cell phone charger plugged into the outlet, draining electricity.  I use non-toxic dish soap for my dishes but use Tide for my laundry.

Despite all of my “failings” I do whatever I can in order to make the world a better place.  Just because I have room for improvement doesn’t mean that I should give up on the things that I am doing right.  People tell me that I can’t save the world, and maybe that is true, but I strongly believe that although I am only one person I can make a difference.

I can improve my own life, my household, my neighborhood.  If I can improve my neighborhood, then I can improve my community.  If I am improving my community then I am improving my country and if I am able to improve my country then I am able to improve the world.  If we all started believing that we have the power to make a difference and the power to change the world, maybe we really can do something.

Individuals build a community and communities create our world.  Maybe I can’t change the world on my own but as a global community I have no doubt we are capable to doing great and many things.  Even the small changes are a step in the right direction.  Keep building upon those small changes and eventually you will be making a huge impact.

Filed under Environment, Life

Algebra Update

April 14, 2009 Leave a comment

"Lineare Algebra" by boba! @ FlickrLast Friday was our third major test in Algebra.  For much of my life, mathematics has been a weakness of mine.  Last year I felt as though I would never make it through my Introduction to College Algebra class, and subsequently dropped the course halfway through the semester.

In order to graduate with my Associate Degree, not only would I need to pass my Intro class, but also College Algebra.  At the point when I dropped the Intro course I felt as though I would never have any chance of passing College Algebra.

I enrolled in the Intro class again to give it another shot.  I ended up with a brand new professor, one who had never taught at a college level.  I thought I was doomed.  I quickly learned that my professor was actually quite good at explaining the material he presented and things began to make sense for me.  Instead of wondering what in the world was going on, I was able to understand.  I passed my Intro class with a B-.  A huge improvement over my previous attempt.

At the end of the semester our professor informed us that he may not be teaching at our campus any longer because he didn’t have a Master’s Degree.  Once again I felt as though my chances of succeeding in Algebra had been dashed.  I felt as though my only real chance at understanding Algebra lied entirely in the hands of my professor and his ability to explain the material in a way which I could comprehend.

I enrolled in College Algebra and hoped that with some luck I would somehow be fortunate enough to have the same professor once again.  A week before the semester began I found out who my professor was going to be and as luck would have it, my professor would be teaching my class.  I felt as though I had a chance at success once again.

Today, after our third major test, I am managing to be doing better than I ever would have dreamed.  I passed this test with the third highest grade out of 54 students.  My current overall grade is an A-.  If someone would have said to me that I could earn even a C in Algebra I would have called them a liar.

I have been working hard and still struggle with the material from time to time, but I finally have hope of succeeding in Algebra and look forward to taking other mathematics courses in the future such as Trigonometry and Calculus.  I have never been a fan of classes like these, but as with anything, the more I practice, the better I become.  I hope to finish out the semester with at least a B, though it would be incredible to be able to get an A.

Filed under Education, Goal Updates

100 Kilometers

April 13, 2009 Leave a comment

I took the day off from writing on Saturday in order to focus my attention on preparing myself for an upcoming triathlon.  I know that if I am going to be able to finish within a reasonable amount of time that I need to be working on improving my skills every moment I have a chance.

"Bike Ride" by Squiz1210 @ FlickrSaturday began with an early morning.  I managed to squeeze in 6 hours of sleep, which is not enough for me, before I was awakened by my alarm clock at 8 am.  I work 2nd shift so this time of day would be equivalent to someone having to wake up at around 3 or 4 in the morning.  I poured myself a bowl of cereal, boiled some eggs and ate a banana while I waited for my teammates to arrive.

Once they arrived we were struck out on our adventure.  Immediately I realized that something was wrong with my bike.  My tires needed air.  We stopped by a gas station and filled them and were back on the road again.  After a little while I realized that I need still more air.  The next gas station was miles away so my only option was to continue peddling.  It wasn’t as though my tires were flat, but just a little soft.  For a road bike, the tires should be hard.

Soon the trail turned into a medium grained sand.  This cut down our pace considerably as road bikes are not made for this type of terrain.  The further we went on this trail the more difficult it became as the moisture in the ground made the trail soft and mushy and our thin tires cut into it easily.  This not only slowed us down, but made it rather dangerous and we could lose control of our bikes at any moment.  We decided to get off of this trail and onto the highway as soon as we could.

We made it to the gas station and I filled my tires again.  This time they had enough air.  We were on our way again but by the next town I was beginning to feel bogged down.  I was carrying a hydration pack on my back which weighed about 10 pounds so I dropped that off at a friend’s house in hopes that it would make the rest of my journey easier.

After having a break we resumed our ride and everything seemed to be better but by the time I made it to the next town I was really getting worn out.  No matter how hard I was peddaling my bike didn’t seem to be building any momentum.  The rest of the trip would be this way, as if there was something holding me back.

We stopped yet again in another town for a rest stop.  I needed something to boost my energy so I got a Snickers ice cream bar and a Snickers candy bar.  I was hoping that the sugar would give me the boost of energy I needed in order to make it the rest of the way.  It worked for a while, but soon I was worn out once again.  By the time we were about 25 miles from our final destination I couldn’t go anymore.  My legs were killing me and my knees ached.  The rest of my body was fine, it wasn’t as if I was physically exhausted, but my legs wouldn’t cooperate anymore.  I decided to give up.

Luckily our girlfriends were nearby so that they were able to pick us up.  We got lunch and went to the bike shop.  There was one final leg our of journey that no one wanted to miss out on, a ride around the lake.  It was a 15 mile trip and after having been able to rest for a couple of hours, I was ready to give it a shot.  The first half of the ride was fine, but soon I found myself unable to build momentum and my legs were fatigued again.  Something wasn’t right so when we finished our ride I took my bike to the bike store to have it looked at.  He told me that the wheel was tightened too much.  This would explain the resistence I had been feeling for the past 100 kilometers!

The entire trip I had been making excuses about why I wasn’t able to perform; under-inflated tires, bad trails, my backpack…and although at the end of the day there was a problem with my bike, I didn’t realize it at the time when I was making these excuses.  I was trying to blame my bad performance on outside forces in order to make myself look better.  The reality of the situation is that while I probably would have been able to do better had my bike been functioning properly, the journey would have still been difficult and I would have still found outside influences to blame my poor performance on.

What I took away from this trip is that I have a lot of work ahead of me in order to get better, but I am getting better already as I was able to add quite a few miles to this trip as compared to my previous ride.  I will have to practice a lot in order to get better, but I will continue to improve over time.  Just like anything in life, practice makes perfect.  I also realized that there are always going to be people who are better than I am.  While out on the road I was passed by people who could literally do laps around me.  They have probably been biking for years and have had a lot of practice and training.  I am still a beginner and there are many people better than I am but also many people who would not be able to do as well as I am.

I look at this trip as being an eye opening experience in that I came to a realization that people have a tendency to make excuses about the ways things are in their lives.  We blame outside factors as the cause for our stations in life.  Eventually these excuses become a reality and instead of fixing the problems, we let it weigh us down and suffocate our abilities, our hopes and dreams…our future.  Excuses only make the problem worse.  If there is something which is holding you back don’t make excuses, solve the problem.  Confront it head on, then move on.

Filed under Determination, Exercising, Motivation

Zero Spending Experiment- A Month in Review

April 12, 2009 2 Comments

One month ago I decided that I would conduct an experiment to entirely eliminate any unnecessary expenses from my daily life.  At the end of each week I posted an update about my progress for that week.  Check out the following links for a detailed description of each week: Week One, Week 2 & Week 3.

My first week was plagued with unnecessary food expenses due to mostly to improper preparation.  As a result, I found myself spending money on junk food because I was hungry & thirsty while out riding my bike.  The most convenient solution to my problem was to stop at a gas station to satisfy my urges.

While my first week was filled with minor infractions, week two was practically a complete failure.  I spent money on accessories for my bicycle, and while I bought only what would be required by law (headlight, tail light & helmet), it felt as though I was on a shopping spree.

I started week three with a new understanding of when I spent my money, which happens to be on the weekends.  In order to curb this habit I decided to stay away from places where I would spend my money, yet still managed to fail.  While out selling some of my extra Stuff, hunger snuck* up on me and I found myself eating lunch at a restaurant.  By the time week three ended, I was left with the feeling that I was spending less before I started this experiment.

Week 4 turned out to be my greatest success of the entire month.  I was able to make it through the weekend without spending any money.  Poor planning and a busy schedule tripped me up on Tuesday and I ended up going to Subway for lunch.  I finished out the rest of the week without any further spending infractions.

What have I learned from this experiment? 

First of all, by paying attention to my money I began to understand how & why I spent it.  By week three I was feeling as though I was spending more money than when I had started the experiment, but now I wonder if that feeling is only because I am paying more attention to exactly where my money is going.

I also began to understand my spending patterns.  Weekends tend to be when I spend my money.  This is likely a result of my busy work and school schedule during the week but may also be my way of decompressing from the stress of the week.  There is a feeling that I need to be rewarded for making it through another week and I do that by purchasing Stuff or going out to eat.  This is something I need to reconsider.  I should not be spending my hard earned money in order to reward myself for making it through another day or another week.

This experiment has been quite the learning experience.  Going through the month with focused attention on my money taught me a lot.  A zero spending experiment may not be for everyone, but I think that it is important that you take the time to track where your money is going.  I didn’t go to the length of tracking every penny but instead just paid attention to when I was spending money.  It made me realize that I have a lot of room for improvement, and I suspect that many of us have some areas in our finances that we can improve upon.

*Note: First recorded in writing toward the end of the 19th century in the United States, snuck has become in recent decades a standard variant past tense and past participle of the verb sneak.  Snuck occurs frequently in fiction and in journalistic writing as well as on radio and television.  It is not so common in highly formal or belletristic writing, where sneaked is more likely to occur. Snuck is the only spoken past tense and past participle for many younger and middle-aged persons of all educational levels in the U. S. and Canada. Snuck has occasionally been considered nonstandard, but it is so widely used by professional writers and educated speakers that it can no longer be so regarded.

Filed under Experiments, Spending

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