Patio Lanterns
Posted by Arianne | Filed under Arianne
Has this ever happened to you:
You’re in the habit of budgeting your life. You finally have the hang of it and things are going well, smoothly, sexily…and then you check your bank account AND YOU HAVE NO MONEY!
*cue heart attack*
This is what happened to me last Friday. Somehow in all my handy-dandy scheduled payments, I set one for the wrong Friday. That money was long gone never to be seen by mine eyes again. At first, I had no idea where the money was. When the shock-blindness wore off and I came to some of my senses, I realized I was logged into my Easyweb and could just check my account history. I was relieved to see all of my funds accounted for; I was distressed to see that I accounted for the wrong timeframe.
I am not one to chat on the phone but I HAD to call my mommy immediately to talk me down from the ledge I was precariously strolling along. I explained what happened and she knew there was more to it than that. I explained throughout this journey of getting my finances back to a healthy state, I’ve not only been saving for my 31st birthday vacation, I was also stashing money aside for my balcony oasis. I know this sounds frivolous but I’ve never had a place that was actually the bank’s mine. The one thing I was able to do without requiring my father for renovation was decorating my balcony and I needed to do it before the summer officially hit or I would never do it. (I’ve known me for three decades, the garbage heap that was sitting on that balcony would’ve stayed there for years.)
So my dilemma was going forth with my plan for the balcony or not. And here is where my mother surprised me, I assumed she’d say, “YES! Save that money, you just never know when you may need it! SAVE FOREVER!!!” Instead she said this balcony thing is something I really wanted to do. The money I saved was to do it up and I should use it for that because it will provide a better quality of life. I saved for something. I used those savings to purchase what I needed. Long-lasting satisfaction and not frivolous at all. I had food, I wasn’t in need of anything and I was just stressing because I didn’t have the buffer in my account I thought I had. While that was a stupid error on my part, I decided to take her advice and not penalize myself for it. I learned from this and will quadruple check all scheduled payments from now on. Believe that! And guess what…? My balcony is almost complete and it’s already gorgeous (I’ll post a pic once it’s done – I’m so proud of it and I never want to go inside!)
A single gal who just turned thirty and a first-time home buyer, Arianne is trying to defeat the monstrous debt she accumulated in her twenties. “That debt is the result of my biggest and most dangerous vice: Shopping” says Arianne.
May 24, 2012 at 6:18 am
Congratulations on the balcony arranging! I (like your mom) do think it’s important to reward your hard work with savings by using the money on the project you had designated it for.
If you don’t, it’s sometimes more difficult to keep up the habit of deprivation for a goal if you aren’t getting any type of reward for your efforts (if that makes any sense).
May 24, 2012 at 11:34 am
I like how you put that, Emma.
” it’s important to reward your hard work with savings by using the money on the project you had designated it for.”
This is SO true. Thank you for this! It will be my mantra. I can understand if I took that balcony money and used it for my hair or nails or something because I didn’t have my buffer any more. I wouldn’t feel good about that. But I saved it for my balcony and I used it for my balcony. Excellent!
May 24, 2012 at 10:29 am
This is the exact reason I don’t do *any* automatic payments that can be avoided. Seriously – not one. I have trained myself that pretty much as soon as I log into my computer on payday I just transfer things around as needed to savings, and pay all my bills that are coming due in the two weeks until I get paid next. I can’t stand automatic payments (even though they are a good tool for keeping yourself on track) … bad experience with a double-pull from a company and I was done with them.
Having said that … good for you for doing your balcony up!! I have always wanted to, but the last balcony I had was just not suitable. My current space is fan-freaking-tastic, but I know I have to move again before too long so I am reluctant to get too attached
Have fun with it!
May 24, 2012 at 11:33 am
OMG, Leslie!!! RIGHT?! I’ve only done same-day transfers until this stupid one. I’m so mad! In my BB, I have all my payments listed on the days they need to be paid and then in the morning at the office, I go through and do my transfers…done and done. No fuss, no muss. BUT THIS STUPID PAYMENT…complete bane of my existence.
Anyway…lesson learned, right?! I will keep the tried and true method of my bill payments and transfers on the day. Eff everything else…at least I’ll know.
Nooooo…I hope wherever you settle down has the best outdoor space imaginable!!!
May 24, 2012 at 12:00 pm
love it! i dont schedule payments anymore because im anal and feel like i dont have control over it lol i have an account where each payday i put a certain amount of money and then when bills come in i just pay them online from that account. when theres a surplus in that account i often treat myself to something small (a clothing item or take out)
May 24, 2012 at 3:55 pm
I also don’t like automatic payments, only do it if there is really no other option for me to transfer the money.
I actually started a new system, I charge everything that I can on my cash back credit card but not as automatic payment if I can help it. I opened a savings account especially for credit card payment, so when I go home I transfer whatever I spent on the card into my savings and let the money grow there until the credit card payment is due. Then move it to chequing and pay the card.
This way I can never spend more money out of my chequing account than what I really have and I also definitely have all the money for the credit payment. AND I can compound a couple cents interest, haha!