Personal finance bloggers know everything, right? Personal finance bloggers know how to manage their finances perfectly? Absolutely NOT. I started my own personal finance blog in order to learn more about managing finances, to learn/interact with great readers, and to share with others what I have been able to learn and accomplish in regards to personal finance. What’s the point of me stating all of this? Simple, I plan on running a new monthly feature from now on where I will confess to you the readers how I messed up financially in the last month. No I will not get into personal stuff or discuss stupid things I said because well to be honest this is a personal finance blog. I will simply list any small or major financial mistakes that I have made or continue to make.
1. Went on vacation. Yes I’m a firm believer that vacations are good for you but with that being said it is an extra $1100 that was spent. Do I regret spending this money? Positively not because I feel that I will remember the experience for a life time. Nothing beats relaxing in a warm country for a week while friends are shovelling snow.
2. iPhone. I finally gave in and purchased the iPhone after years of holding the purchase off. I’m actually quite proud of myself because I wanted to originally buy this phone back in 2007 when it first came out. It cost me $200 and I do no regret it. In fact I will be discussing this purchase in greater detail tomorrow.
3. Took two extra courses. This actually happened in January but I will mention it here anyways. I was planning on taking four courses this semester but for some reason I got a giant jolt of motivation and enrolled in two extra course so that I can graduate quicker. Once again I do not regret the purchase but I consider it a mistake because I did not plan for it.
4. Buying coffee daily. I have tried to cut back on my coffee consumption but I still purchase about a coffee cup a day. I know that its only $1-2 a day but I hate the fact that I need to rely on caffeine consumption to wake me up in the morning. In March my goal is cut back to only 15 cups of coffee a month. I know that quitting cold turkey is definitely not an option so I will not bother lying to myself.
This month I mainly listed major financial purchases I made but I have a feeling that for next months update I will list many minor mistakes that I continue to make. Now I turn it over to the readers; how have you messed up this month? What financial mistakes have you made? What financial mistakes do you continue to make?
{ 8 comments… read them below or add one }
I am addicted to Starbucks. Their frappuccinos are too good. I try to indulge as little as I can but so far it is not working. I have to try a new approach.
Let me name the ways..
1. Am going on 2 mini vacations (one to pick up my mail and see my sister, the other to NYC)
2. Bought a new Netbook & some minor accessories ~$700
3. Am not on a contract or working right now
But I’m not worried. Something will come up soon. I’ll panic if August comes around and I’m still on the bench.
Ever make your own coffee?
I withdrawal money I did not budget for last week to go out to eat with a friend. That cost me interest and overdraft charge.
Other than that, I been very tough on myself most of the last 6 months to pay off my debt.
Question, pardon me if this has been asked before but how did you cover the costs of the trip and phone? Did you save the money or go out and make more ?
Fabulously broke
I am assuming you have lots of savings since you can hold off until august and made those purchases.
What is the benefit of the new Netbook?
@Vik Dulat I have Starbucks when I’m really tired because let me tell you their coffee is really strong compared to the other stuff around here.
@MyLifeROI It’s really a convenience issue for me. My classes are currently all in the business building and the thing is they have 2 coffee shops which are both very close to all of my classes. Walking past a coffee stand at 8am is kind of tempting.
@Fabulously Broke Congrats on doing what makes you happy and it’s good to hear an optimistic voice.
@tom Once in a while it’s alright to catch up with an old friend just don’t make it into a weekly habit. I covered the money for the vacation by earning an extra $1000. In fact if you dip through the archive I wrote the article on Feb 16, “How to earn an extra $1000.” Hope that helps man.
Haha… I had to laugh about your coffee expense. We all have our vices, right? One to two dollars per day can add up, though. It’s kind of like my Subway habit… I really need to stop!
I bought a new laptop. Did I need a new laptop? Absolutely not. I have a desktop that still works and a 7 year old laptop that still works. Granted the laptop was 9 lbs and had to be plugged in at all times and the desktop needs to be reformatted.
I do not regret the purchase. I have been much more efficient blogging with my new laptop and I got a great deal on it. Plus I will be able to take my laptop and work wherever I go. Some financial mistakes end up working out in the end.