Fat Pockets follow up

Avidan, a follower of this blog, commented on yesterday's blog post with

I used to do the same thing with being thrifty because it seemed the reasonable thing to do, then I decided that I will save more money and calories if for example I buy one doughnut for $0.90 rather than a dozen for $4.00, which I ended up throwing out half of anyways.

I came across your blog from Shelfari and find your posts quite interesting :)

I have two comments on that, and the first is that I am pleasantly surprised that people are reading. There are millions of blogs to choose from, and to have a reader stumble upon mine and then find it interesting is definitely a compliment. Thanks again, Avidan. Stop by again soon.

Second, I'm glad to know I'm not the only one this frugality/diet conflict has happened to. I did not end up throwing the doughnuts away, however. I took two more for breakfast the next day and left the rest in the kitchen in the office. They were gone in less than 20 minutes.

Fat Pockets

I saved money today in three ways, though I'm still not sure how this will translate into extra savings each month. First, today I did a free museum visit for my entertainment. The original admission for the museum would have been about $8.00 or more. Second, rather order a full meal with at drink, I opted for an appetizer and water. If I'd ordered a soda ($3.00) and a full dinner -- with a difference of $4.00 between the appetizer and the meal -- I'd have spent an additional $7.00. In total, that's a whopping $15.00 I've saved today just by making smarter consumption choices.

I also wound up saving myself lots of empty calories. Of course, being thrifty can also add on the pounds. On the way home, I thought it would be better to buy a dozen doughnuts from the market for $4.00 instead of just one for about $0.90. It does make sense economically, but with another 11 doughnuts sitting around, it will be difficult not to overeat. I am tempted to just throw the remaining eight (I've 4already) into the trash, but that would be like wasting the same money I just saved earlier today. I think I will throw them away. I've just eaten another one.

Automatic Saver

I've announced already that part of my challenge will include learning more about money, saving, and finances. As of today, I'm taking it a step further and issuing a challenge to myself to save at least $2,600 in 2009. That's $25 per week for 52 weeks, a full year of saving. That amount, $2600, in and of itself isn't a lot. I have student loans and past due tuition up the wazoo. However, saving just that small sum consistently will be the mark of a breakthrough.

In the past, when I've tried to save consistently, some sort of emergency would inevitably show up. And then when the money was gone, it would be easy not to start all over again. I know this one simple act of saving consistently is the first step in realizing financial independence. One of my favorite money books, The Automatic Millionaire (by David Bach), is based on this principle. But as I've learned throughout this challenge, reading and knowing how to do something is very different from actually doing it.

At first, I started with the idea of saving $40 a week. Then I suppose I felt that amount was just too comfortable, so I upped it by $10. The truth is, saving $40 is actually no easy task. I'm really living paycheck to paycheck. One wrong move, and I'm out. I've got to think about what I'm spending my money on, what I'm not spending on, and how I can go about reducing my spending where I can.

I already know I spend a lot of income eating out. Sometimes, it will be at a restaurant. Other times, it's just fast food. Least of all will I spend time actually cooking, though it is both the cheapest and healthiest way to eat. It might also help contribute to my weight loss. (Follow my weight loss on my other blog: www.poundapound.blogspot.com.) Eating out, I think I spend about $75 or more a week. It's not just because I like to either. Eating out is convenient when you spend lots of time at the office.

I will also try to chronicle how I save money. I think I'm paying too much on my cell phone bill already. That's something else I can cut back on. But I don't want to become a penny pincher. I don't want to live in fear of not having enough. I want to live comfortably and be debt free with considerable wealth.