I hate to announce that I am no longer spending money. I am going on a spending freeze! Looking through my bank account, I have realized that I spend a huge chunk of my paycheck on shopping. I received a package from Forever 21 the other day and while I was putting my new clothes on hangers in my closet, I found that there was no more room for anything else. It was such a sad day. While I have bought many new items for my wardrobe, I also need to take the time and go through items that I have had for a while. There are many things that I can no longer fit in and need to be removed from the closet. Whenever clothes no longer fit, I try to give them to my smaller cousins, I try to sell them back to secondhand stores, then I try to donate them to either Goodwill or the Salvation Army. Donating items that I no longer need always makes me feel like I am making a difference in someone else’s life. I never give away “junk” and I make sure that what I am donating, someone is going to find a use for.
So while I am currently not spending anymore money on impulsive buying decisions, I have given some thought I what I want to do with my money.
1.) Pay off all of my college loans.
2.) Buy a new car in 3 years.
3.) Buy a house in 2 years.
4.) Start building my savings account.
Do any of you have any tips or advice on budgeting? What about saying no to shopping?