Saturday, April 4, 2009

saving $ is fun again!

I must admit, I've lost my motivation to save money.

In the process of getting really busy with my day job, my excitable one year old son, and planning and taking a wonderful Vegas vacation, I've lost my saving mojo recently. These factors were not the only detractors from my usual saving prowess, I've been weak lately. My wallet has sprung open too wide and I've been very prone to the 'we deserve it' mentality. While I do believe this type of occasional extravagance keeps one sane, it's time to get back on the horse; and I've never been more ready to saddle up.

Our indulgence has cost us some progress toward Goal #1 which states:
Save an average of at least $1,000 per month to be added to our non-registered portfolio. (These savings are on top of regular RRSP and RESP contributions.)

We've come up empty the last two months:
February, 2009 = $0
March, 2009 = $0

As of right now we are not meeting our goal. Over the last rolling 12 month period we have manged to save an average of only $701.

Even though my wife was on maternity leave for half of the period, I am not happy with that, and we have been motivated to turn it around. Following the surprisingly frugal lead of my wife, I feel like we have a renewed motivation to sock away cash. I don't know if it is Spring breaking or just a natural snap back from overspending but we're definitely acting more frugal lately. Given the ongoing recession, we seem to have a lot of company all of a sudden. Saving money seems to be in vogue now; everyone was at the malls in 2007 when the moneygardener ruled saving money?

April's savings have already been booked at $1,500 and growing. I'm happy to proclaim that after a luxury sabbatical, saving is fun again!


Fabulously Broke said...

Sometimes we all need a break.

But the good news is that you caught it early instead of spiraling down, inch by inch until you were caught off guard, right?

I'm in the no-saving mode right now. The deals are just too good to pass up to visit cities I've never been to before - Boston & Chicago on a budget of $1200 - $1500/person! That's my budget goal.

Then after that, saving mode kicks in as we will not travel like that again until near the end of the year...

Nurseb911 said...

Proud of you for getting back on track MG, but I can't believe you saved $0 the past two months when STOCKS ARE THIS CHEAP!!!!

mfd said...

$1500 is a good amount. I know we haven't really saved the last few months but I can't wait until we get back on track.

POL said...

I've been saving like never before during those last 3 months, I feel like I'm obliged cause all great companies are on sale right now!