I knew it would happen. At some point, the reality of the bigger paychecks and more money in my pocket would hit me and I would start thinking about all the things I’ve been wanting for some time. New furniture, stuff for my kitchen, music, movies, electronics, and tons and tons of clothes. my feet would suddenly be headed toward the mall (or my mouse pointer on eBay) before I know it.
Screech! Hit the brakes! Seriously, I have to slow down and think here! Yes, I will have all that money coming in, and I will have more flexibility in my budget than I ever had before. But – why change and become a spendthrift?
I simply have a case of “paycheck rich,” otherwise known as “lifestyle creep” or “Keeping up with the Joneses.” I want stuff, and I’ll have the money to get stuff. But I have to keep reminding myself that I have some serious goals that I will never accomplish if I just keep buying a bunch of stuff. And unless it’ll seriously contribute to my life, I don’t need any more stuff in this already cluttered house.
The only things I want to invest money are the same ones I’ve been working on for a while, but putting off because saving and paying down debt is just a tad bit more important. I’ve thought long and hard about these things, and I’ve come up with a short list of things I will invest some money in, while I save the rest or use it to get ahead on my debt repayment plan:
- A working laptop. No offense to my old Compaq (as I’m using the device to compose this post), but this thing has gone to crap and is going further south each day. BF seems to think I’ll be happier with a tablet, and even though those have come down in price, it doesn’t replace a portable computer for me. After some consideration, I’m going to wait for my tax refund to come in, take some more time for comparison shopping, and make this purchase in cash. Also, I need to see if someone who likes to tool around with old broken computers would be willing to pay me anything for this. Even $25 for this would be awesome, considering I want to spend more than $300 on my laptop this time around. I’m not going to just buy the cheapest model available but really think about what I need in a computer. Some of my specifications include better processing (goodbye Windows Vista, hello Windows 7!), more RAM for multitasking, more security, and more durable construction for traveling with it. Date of completion: end of February 2012.
- A newer car. This has obviously been on my wish list for some time. And it’s about time. However, I keep coming up for reasons to put off getting rid of my beater Chevy. For one, it still runs and gets fantastic gas mileage. Things lacking on it, such as a working A/C, power locks, and overall safety in that tiny car, can wait a bit longer while I add to my saved-up down payment and comparison shop and inspect some used cars around here. And, big surprise, I’m going to find something affordable. My overall goal is to land a car and payment that’s $300 or less each month. I’m going to give myself a bit more flexibility with this goal, and I wouldn’t be surprised if it gets moved back some more. Date of completion: May 2012 (but wouldn’t be surprised if it took till August).
- Only a few quality additions to my wardrobe: a new coat that’s not black (you ladies who don’t like brown with black can relate!), a good pair of running shoes, and dress pants and jeans. That’s right: I have to replace my pants! I’ve lost weight on my workout plan and plan to keep going, but super-baggy jeans and pants aren’t exactly nice/professional-looking, and I want to keep moving up at work. I’ll still be stingy with this, committing only $100-200 for new clothes over the next 2 months. And, of course, cheap as I am, I’ll likely wait until spring fashions come into the stores to look for pants and coats on clearance. Date of completion: March 2012.
- A new home. BF and I loved this condo as our first place together, but after living with all the issues here (hello loud, destructive neighbors and mildew eating our belongings), we are ready to move on! But the question is: when? Should we tough it out one more year? And then, will we rent another condo or buy one? What’s our plan to save for the down payment and our budget for mortgage payments and all that? Holy crap … that’s a lot of questions, and my head is now spinning. Date of completion: obviously unknown.
Of course, this is all after I pay off my credit cards in a few months. That’s well ahead of schedule, and I can’t wait!
