Wednesday, January 6, 2010

Financial Panic...

It all happened today after lunch...

I was trying to be proactive with finances today, since I get paid tomorrow. As you may have read below one of my goals for the year is to gain and maintain finacial stability, so I decided to start with this paycheck with focusing on only the essential spending. You know...bills, Austin's before and after care, car maintenence, etc. So what did I do next? I looked at my paystub to see what I have to work with.

I then discovered the impact my decision to be responsible and forward-thinking by establishing both a medical spending flex account, as well as a dependant-care flex account. I now, as of this paycheck, am having approximately $300 more dollars taken from each check and put into the before-mentioned accounts. YIKES!

In the spirit of becoming financially stable I started a electronic version of a register to track the incoming and outgoing spending. I also plan to to keep a hand-written register (yes, Mom, you read that right!) and do what most financially responsible adults do! So, anyways....I did that and guess what? Once the bills and other payments are complete, these is VERY LITTLE paycheck left...YUCK! I guess it's time to start living extremely tight! But I am hoping by doing so, I will be able to start gaining a savings, and find a way to better live within my means.

Wish me luck! And I leave you with a quote I got in an email today, that reminds me to begin with the end in mind, like I learned in my 7 Habits training. Provided by a great motivational speaker, Judy Moreo, "The journey becomes clear when the destination is known."

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