Money Matters

***I think the dry spell of blog topics in my head has ended. Today, I can think of 4 topics that I want to blog about. However, I'll stick to one, make a list of the additional topics, and hopefully write more blogs in the next few days. Don't hold me to it, though...***

Today, I made huge progress in my financial life. I FINALLY paid off my credit card. In this post from January, I talked a bit about how the card got a balance...

Anyway, I won't post the exact balance that I was carrying, but suffice it to say it was fairly significant. It is a great feeling to have that paid off. Last year, I told my roommate Maureen that we would celebrate with champagne when I finally made the last payment, but of course she happens to be in Italy at the moment. So, we'll hopefully celebrate when she arrives home.

While I've been saving a bit in the midst of paying off debt (in both a regular savings and my 401K), now I can really start saving a fairly significant portion of my income. I think I've worked the kinks out of my budget so that I can have a modest quality of life with a few splurges here and there, but still save enough that I will be financially secure. As I wrote in January, this will be particularly significant once the house purchasing gets under way (we are currently a bit stalled waiting for both Sharon and Maureen to get their townhouses ready to put on the market). I'm not complaining about the wait, though...every month we delay helps me to be that much more financially secure. I would, however, like to be in our new house by the end of the year.

But I digress. Even though I've put myself on a somewhat restrictive budget, I still allow myself a few extravagances:

1. High-quality coffee. This should not come as a surprise to anyone who knows me well...my morning cup of coffee is definitely one of my joys in life. I'm a coffee snob and refuse to drink anything that costs less than $10 a pound. Of course, dire emergencies are an exception. My current favorite is City Dock Coffee's Boat Guys blend (sorry non-Annapolitans...City Dock is exclusively in the Annapolis area).

2. A good bottle of wine. I attribute this extravagance to Maureen. She is a wine snob, and has converted me, as well. I'm currently loving reds, but I'm sure I'll turn to whites again once the warm weather hits. Thankfully, our wine rack is pretty full at the moment thanks to some early winter sales, so I probably won't need to spend too much money in this area for awhile.

3. A nice dinner out 2 times a month. Interesting that my first 3 extravagances all fall in the food and beverage category...

4. Pedicures. As a runner, my feet get nasty dead skin. So, when I have to wear open-toe shoes, I get a pedicure. This includes fancy galas, some concerts, and most of the summer.

5. Expensive Shampoo and Conditioner- my shampoo is really expensive. Like $25 a bottle expensive. Very extravagant, I know. But, it keeps my color bright and makes my hair super-soft. Plus, I used to buy new shampoo almost every month trying to find something I liked (since I was 13). Now, a bottle lasts about 6 months, so I'm close to breaking even. And, I'm putting less waste into the environment.

6. iTunes purchases. I love iTunes. The idea that you can buy one song for $.99 still excites me. I've bought so many 80s songs and choral songs. I don't buy too many a month, but I'm definitely spending money. I even have a line-item in my budget for iTunes purchases. As long as I stick to that budget, I should be fine and be able to enjoy my music. Recently, I've gotten into downloading tv shows that I miss...then I'll watch them during lunch or long waits on my iPod. Yes...I'm one of "those" people. Forgive me.

There are also some things that I used to be extravagant about, but now I think- eh, I don't think I need a new (insert item from below) . I'll make do with what I have. Of course, if I were crafty like my friends Kristena and Kristi, perhaps I could make a new (insert item from below) . Unfortunately, the time I spend at home these days consists of sleeping and eating. Maybe this summer I'll have time?

1. Bedding. I used to be obsessed with buying new bedding. I bought new sheets 2 or 3 times a year. Now, when the desire hits me I think- do I really want to spend $70 just for a new color on my bed?

2. A new car. I seem to have inherited my family's penchant for driving a car until it dies. Last year at this time I was contemplating a new car, but now I've decided my 7 year old Saturn needs to last me at least a few more years.

3. Clothes. I used to buy clothes all the time. At least once a month. Now, I look at my closet and am fairly pleased with what's there. I'll buy something on sale occasionally, and about 3 times a year I set aside some money to update a few looks with quality pieces. Do I walk through the mall and want to buy almost everything in sight? Of course. Do I want to spend $100 on a blouse or pair of shoes? Not on your life!

That seems to describe the financial transitions I've made in the past few years. Thankfully, I've become happier with the things I already have, but I can also make room in my life for those little extravagances that help make life a little more comfortable and enjoyable. Ultimately, though, it's people who help make the extravagances more enjoyable. A good bottle of wine is better shared among friends. A pedicure seems more decadent with a friend sitting in the chair beside me. Saturday morning coffee with the girls is my favorite coffee of the week. Thankfully, friendship is free!