Student Credit Card and Credit Education Blog

So the other day, mere hours after I vowed to substantially reduce my burrito intake….you guessed it.  I caved.  To be fair, I had some errands to run after work, and by the time I was getting home it was after 8 PM and my abdomen was screaming for appeasement.

Guilt ridden, I trudged home, burrito in hand.  I spent the next 15 minutes between wallowing in a tube of rice, beans, chicken, and vegetables, and entering the $5.78 into the “other” expenses section of my personal finance spreadsheet (again, comment below and let me know you’d like a copy of the spreadsheet–Captain J helps those who help themselves!).

Alright, I’m obviously kidding.  Yes I bought the burrito.  No I didn’t actually feel guilty about it.  Yes I made up for it in otherwise, hence this post!

I simply made sure the next day (yesterday) that I cooked a substantial meal after work, promptly wrapped the leftovers, and am now currently enjoying a delicious office snack of eggplant parmesean.  Beyond that, I organized my ING account.  Take a peep below.

Now how in the world can 1 man have 5 savings accounts?!  Easy.  If you log on to your ING account, you can create sub accounts (To set up a sub-account, log into your account >> Open an account >> Orange Savings Account >> Orange Savings Account (from the drop-down). Create the nickname, etc, and you’re done.)

For my burrito savings account, I’m automatically deducting the $15 I figure I’ll be saving each week and putting it into this little account.  Over time, I know this is going to grow.  As for the “utility savings” category…

Using my trusty personal finance spreadsheet, I entered in my most expensive utility bill over the last year into the appropriate category.  When I saw that barring a major emergency, I can afford this number any month, I will simply use it as a benchmark to deduct whatever the difference is in my actual utilities for this month.  I just got my October bill last night.  And I’m directing $12 into my utility savings account as we speak!  Now I know what you’re saying.  How are you SAVING anything?  You’re just using your money and putting it into this stupid little account.  Well, you just answered your own question!  I’m using my money, and I’m using it wisely.

I pay my utility bill out of my checking account.  That extra $12 that would normally be wading around in there this month is as good as gone on some burrito, eBay item, or other what-have-you.  Instead, I’m investing it in myself where it is safe from, well, myself.

No one said saving would be easy.  What about you?  What are some things that you purchase consistently every month (subscription services, food, beer, a credit card bill) and think about those items.  Write them down and see just how much they are cumulatively.  Can you make any adjustments?

shh…Pointscode:

BURRITOME