As this trial comes to an end, I most importantly need a long term plan for any spending. While buying things, both necessities and luxuries, is a given, it all comes back to purchases that will actually improve my life .
Still Spending
Yesterday, I ended up making another big purchase, a tablet to replace an old laptop. I’ve long been considering it for a number of reasons, and looking at my accounts, the money was there. I spent about an hour going through a list of why I wanted it and needed to buy it that day. Funny enough, I almost put off the order by another few days just to be sure, but I saw the price dropped nearly $100, so I figured I’d bite the bullet.
This tablet is a tool that offers a number of benefits. For one, I plan to use it for reading e-books, something I’ve been doing more and more. While able to read on my phone, the text is small and holding my phone for a long time gets tiresome. I’ll also be using the tablet as a second monitor when needed, thanks to some software I was able to find. The model I bought also has a pen attached for drawing and writing , something I want to do more beyond a mouse and keyboard.
There will always be things I am looking to replace or upgrade, but waiting for the right time is what will be important in the long run.
Planning Ahead
Just before making my purchase yesterday, I put together an updated budget with what I believe to be my regular purchases. The template I use, one made by Thomas Frank, has a section specifically for investments. The first thing I did was put in what I wanted to there, and then needed to sort out the rest of my spending from that remaining amount. “Pay yourself first,” as the old adage goes.
Far from a perfect representation of my spending, the budget gives me a clearer idea of where my money will likely go month to month. Using it, I can better steer the course of continuing to save and invest, while finding the right times to spend.
Speaking of the future, the next trial I’ll be doing is time tracking. I’ve had on and off success in the past few weeks of keeping up with it, so hopefully a trial will get me in gear. Throughout this year, I’ve had days or weeks pass by in a blur with no recollection of having done anything. In an attempt to see where I’m spending this time, I’m going to track it and compare the results to my planned schedule. If you’re interested in following along, this is the free tool I’m using, but there are plenty of others out there.
Trying Out Before Buying In 