For Auld Lang Syne...

Well it's that time of year again - the end of it. At such an occasion, like most people, I like to take this time to reflect and look forward to the upcoming year. However, I don't believe in making resolutions, I create goals. All that "I resolve to..." nonsense makes me feel like I am in confession. So for the upcoming year, here are my financial goals ( I have others, but I don't think you want to hear about how I need to clean out my hall closet).

2009 Financial Goals:

• Reduce my overall interest rate: I am currently paying a weighted interest rate of 19.64% on my debt. I would really like to bring that down a smidge.
• Reduce Credit Card #1 by at least 50%: The balance on this card is currently $19535, which means that I will need to pay off principal of $9767, (I'll just round that up to $10,000). Yes, I know that this is less than $1000 in principal per month, but with payments on all of my other cards, and my current payments of about $500 in principal on this card per month, it is a rather lofty goal.
• Start my emergency fund: Yep, one of the biggest financial management sins is not having an emergency fund. I would like to get a an emergency fund in place with a minimum of $500 in it at any given time.
• Secure a new job with better pay: I actually have a decent job in my field right now, but I am not truly happy there. It's time for me to spread my wings a bit and move on. Besides, I'm not exactly making what I could be in a different organization. The new job is a personal growth thing, the better pay is just common sense.

So that's the game plan for '09. Not rocket science, but it this would make a huge difference in my world.

Debtserious 1, Boxing Day 0...

So I did go shopping for boxing day, but guess what- I spent a whopping $50, and I did it in cash!! Trust me, as a seasoned shopper, it was tough since there were some really good deals the likes that I haven't seen in recent years. Woohooo!

However, as an observation I noted was that this "recession" has really gotten to people. The shops were completely dead. I guess it's a sign of the times.

A little willpower...

So it is now boxing day and I am spending Christmas with family. Unfortunately, spending time with my mom requires that I go boxing day shopping. Don't get me wrong I love...I mean LOVE shopping, but old habits die hard and I am a little skeptical of my willpower to resist the sales. This will definitely be a test of my will to see if I can shop for an entire day without pulling out any plastic. I'll keep you posted on how I did. Cross your fingers for me.

On a happier note, for Christmas I received money that was specifically earmarked for a home renovation project that we have been working on (yeah), and... get this... one of my relatives couldn't think of a gift for me so they actually bought me diapers. Yep, diapers for my son. Sounds a little unorthodoxed, but the thought was that if my kids everything they want (which they do, they are so spoiled by their grandparents) that they should get something they need. Awesome!! From the hefty load of Huggies I will easily sail into spring without having to dish out for these necessities.

We wish you a debt free Christmas...

So here it is Christmas eve. For all of (if I have any) readers, I wish you a merry debt free Christmas, or at least one that doesn't make your debt worse.

Things for me appear to be shaping up decently this time of year. I have done some of my gift exchanges with family already and without any prompting have received a decent amount of cash as a present. The gifts I purchased were well received (and within budget). Plus, with so many events my grocery budget has had a nice little reprieve since we have been eating out with family for the last several days. And you know what, financially scaling back for Christmas has not affected the holidays at all.

...Now if Santa can slip an $80,000 cheque under the tree, everything would be absolutely perfect.

Merry Christmas everyone!

Deck the malls...

Christmas shopping is finished!!!!!! And not only do I get the joy of knowing that I am done, I also came within my gift budget!!! That means I did not spend any money more than I had put away for Christmas.

I have been trying to budget for Christmas for years and this is the first time I managed to pull it off. I think it is because I started my gift budget at the begining of the year and accruing the funds every month, which caused me to think ahead for Christmas instead of trying to come up with the ideas (and funds) in October.

I definitely think that the gift budget project will continue for 2009.

Time for some "change"...

Yeah, whoever said that you let at least $100 worth of change slip through your fingers in a month was definitely lying. Some this experiment has failed miserably. I have been collecting my change for a month now and I have amassed a whopping $32.67.

First off I thought would not go too badly considering that I ransacked my old purses, the cup holder in the car, the laundry room, practically everywhere and I found a ton of change. Problem is, once you've cleaned out those areas, they are no longer a source of money.

Second problem is: debit cards. If you are using your debit card, you don't have change. Technology is a killer.

Third problem: when you are cutting back on your spending, you don't spend as much, which means you don't come across as much change.

Luckily for the person who "challenged" me, I have received some money for Christmas which will cover off the difference in the $100 challenge for the month. But to that person I must say "HA HA" I was right.

I like being right.

Santa's got bank...

Well it may be a little late for this year, but I have some advice for how to make some quick coin over the holidays...play Santa. I don't mean at the mall, but a hired Santa that goes to special functions (think stripper with more clothes)

Yeah I know this may sound hokey, but I talked to a hired Santa last week at a Christmas party and he makes $70 for a half hour appearance. Plus, he mentioned that on an average Saturday in December he can has had up to 13 appearances - in other words $910 cash in a single day (which I'm sure he claimed on his tax return).

In addition, if you are in debt you can use your new found calling to do charity work as well. Volunteer to play santa for a children's hospital or other charitable function that involves kids. This way you can earn some extra money, and still give back to the community without spending your cash and get paid in warm fuzzies (AHHHHH!!!)

So if you can fork out some cash to buy (or make) a Santa costume, don't despise children, and can generate a little word of mouth (or god forbid advertise) you could be sitting pretty next holiday season.

This unfortunately is not really a viable solution for myself (female), but around the holidays they sometimes look for elves, balloon artists, or face painters. Probably not as much coin in this as the man in red, but a couple regular gigs could help grease the holiday pocket. Something to think about.

Bad Blogger...

So I know I haven't been around lately, and I have some good excuses but frankly I don't think anyone really cares why I haven't been posting just that I haven't. I've been a bad blogger I know...(slap on hand)...bad.

Well now with that taken care of, last month went a little better than I would have thought. I haven't updated my ticker yet, but the net change from beginning to end of the month was negative. Yep that's right my debt actually went down last month (enter WOOOOHOOOO here).

As we had already discussed I met my $100 goal, and for the first time I get as little hope that things might turn a corner.

It's good to be back!