Friday, March 1, 2013

love.this.challenge. -- momedy sketch community challenge

I have joined the Momedy Sketch Community Challenge.  Click on the >>here<< to join me!  Today is the official first day, but I wanted to share with you my preparation for this challenge to take back control.

Phase 1 -  Prep Phase

I want to get back control of my finances.  I've never been good with money... I'm really bad with it, actually.  I can't stand money, alas I must deal with it.

Five positive ways my life will change once I gain control over it:

1. I will be happier.
2. I will be less stressed.
3. I will feel more secure.
4. I will be able to focus on things that matter most to me.
5. Fewer bills to pay!

Five very specific things that are going to be necessary to make this taking back control challenge a success for me:

1. Do not purchase anything that I do not need.
2. Make a budget and stick to it.
3. Save every paycheck and don't touch it.
4. Use my time for important things that have nothing to do with money.
5. Remember how happy it makes me to live with less.

What do I feel has been blocking me from gaining control of my finances?  I'm already in debt so sometimes I feel like it's a lost cause.  I pay all my bills on time, but I feel like I am just running in place.  I'm impulsive, and oftentimes that gets me in trouble.  A habit that I am kicking right now is retail therapy... I used to treat my problems by throwing money at them... money that I didn't really have to begin with.  These have been my hangups in the past and I am ready for them to not be hangups anymore.  

What resources do I have?  I think my most valuable resource at this point is keeping up with my growth.  I have made a lot of progress lately and am able to rely on money less and less.  Also, my friends.  They can be very helpful when it comes to financial decisions, provided I give them the information.  Another resources is this challenge support group.  I really think talking about it and putting it at the forefront of your mind can help you take action... I know it will help me.  

At this point, I don't feel like there are any resources I do not have available to me.  It's going to take a lot of time and a lot of discipline and utilization of the resources I have, but I believe it's possible.

My game plan?  
- Cut out every unecessary expense that I have.
- Pay with cash.
- When I feel the urge to shop, walk the dogs and/or call a friend or blog!
- Make a budget.
- Make meal plans.
- No fast food.
- If I must eat out, keep things cheap.
- Use coupons.
- Use the snowball system to pay off current credit cards.
- Save as much as possible.
- Be grateful for what I do have.
- Find cheap or free alternatives (like the library rather than bookstore).
- Walk more often to save on gas, which is not cheap.
- It's ok to ask to borrow things.

All right.  Let's do this!


  1. I love this! Going to share it as a primer for everyone who joins this challenge. THANK YOU! You are going to do GREAT!

  2. Thanks! I am totally excited for this!