New Year, New Financial Life

A New Year means a new life, a life that I decided to gear towards financial freedom.

Before the year ends, I’d like to dissect my wastrel attitude towards money. What are the unnecessary profligate activities I routinely do?

1. Food Delivery and Outside Dining. I think this is my major financial pitfall. I love to dine outside and food delivery becomes a regular habit especially on weekends. The average amount I spend is $30 for food delivery and $45 for outside dining. This doesn’t include tips and taxi fare.

My Resolution: Food delivery and outside dining will be unknown for 2009. I have to sacrifice these leisure activities for a year until I am able to pay such extra expenses.

2. Phone Cards. Though this is essential, my only resolution for this expense is to use my phone credit wisely.

3. Unnecessary Trips. This basically proper planning of activities to save taxi fares. As the public bus is launched already, I should start utilizing it also.

4. Foodie Stuff. Many times I bought food stuff that ended up in the garbage (shame on me, many people have nothing to eat and I am wasting food). I should buy only what is necessary. Also, as my company provides meals in the cafeteria, I should take advantage of it also. No need to cook at home on weekdays. Cravings should be minimized too. These are cravings of unhealthy food such as chocolates, ice creams, and cheese cakes.

5. Tithes. Though I am not a pious person, I believe in tithes, sharing a certain amount of your income. I am not keen on giving tithes to the church. I am more comfortable sharing it directly to the needy, to the one I knew that my tithes will be useful and utilized well. As my way of tithing, I am keeping a college scholar. He is now in fact a second year college and I wish to continue my financial support until he graduates.

This is so far my wastrel activities I can think of.

My next step is to look into my monthly bills properly. Where my salary goes every month? This is really quite a tough journey but I am determined to be disciplined in dealing with financial matters.

Enough that I had wasted a decade of income, it is time to wake!