Thursday, August 11, 2011

Spending fast reflections

My last update on my fast was in either late June or early July. Can't remember. Anyway, the whole goal of the fast is to reduce my consumer debt (primarily on my credit cards) by only buying stuff I need. We're now in mid-August, and the things I've WANTED haven't been many. But all together, they'd probably cost a few hundred bucks. Maybe even $1,000 or so. At least, that's my guestimation. I guess I just thought I'd save more money. But I honestly had no way of measuring my savings. I think the only way I could've measured it would be to want something, resist buying it, and record the price it cost, and then over time, watch the total cost increase.

Stuff I've wanted and HAVEN'T bought:
-Katy Perry's album "Teenage Dream"
-Lady Gaga's album "Born This Way"
-All of GLEE's soundtracks after the Showstoppers volume
-Wii video games (Glee Karaoke Revolution, Rockband, other musical games)
-more khaki shorts (I only own 2 pairs) and other clothes I've wanted
-DVD releases (which kinda doesn't matter since I have Netflix)
-more theater outings (we've been to about 5 this year)
-minor cosmetic vehicle repairs
-2 more digital HD antennae for a couple TVs in my house
-more restaurant outings (I've eaten just fine at home, but I miss going out, though I know this has saved me a LOT of money this year)
-more games or other paid apps for my iPhone
-university (UT and Texas State) accessories for myself or my car
-more charitable donations

That's just what I can think of now off the top of my head.

In my last post about my fast, I'd mentioned that I may have to extend my fast into next year. If I do that, it may evolve into a spending diet. But one thing I'm looking forward to is that I expect my IRS refund will either pay off my car, or knock it down enough to pay it off sooner than next June. Having my car paid off means I can use that money to pay down credit card debt, which then gives me a little more flexibility each month.

The greatest irony is that though I've limited myself on what I want to buy, I still use my credit card for important, necessary purchases, and the most expensive is gas (if I drive a lot), and car maintenance. It makes me feel like my consumer resistance is getting canceled out with vehicular needs, therefore voiding virtually any impact on my fast. So that feels discouraging. However, the truth is that the fast has kept my balances from being unmanageably high, and that in itself is *a* goal, just not the goal I intended to achieve...which was watching my credit card debt *decrease*, which hasn't happened. Instead, it's increased because it's been used to pay for necessities that I didn't have enough cash to cover.

Let's see what the next few months bring.


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