Saturday, July 23, 2011

Cash Money$

As I mentioned, I have a fairly large cash position. While the financial planner made me feel less guilty about not having it invested (he told me there will be volatility soon so it's ok to have a lot of cash on hand), I did want to earn something on it. Again from Get Rich Slowly readers, I learned about the Ally 5k-year CD. The best part about it is you only lose 2 months of interest if you pull your money early. I opened one big one, and now I plan to open several smaller ones. Opening several smaller ones is helpful because if I do have to pull some money, I'll lose less interest. That was another idea from a blog commenter. Yay for learning from others!

Know Your Stuff

I have been going through the process of cataloging my possessions for a while now. I read about a great tool in the comments on Get Rich Slowly. It's a website called It's great. It gives you a place to catalog and document (with receipts, images) your stuff. Obviously this will be great in the case of a fire or another catastrophe. I entered most of my stuff and even looked up the original prices from my credit card records for a lot of them. Like my wardrobe, a lot of my furniture is hand me downs, including:
My Television
My coffee table and side table
My kitchen table
My bookcase
My lamp (my mom bought it for me when I was young)

Except for my fancy bedroom furniture that I bought last year, the rest of it is mostly Ikea or of equal cost and quality. I do like most of it, so it doesn't really bother me. My couch is too big for my living room, but it is soooo comfy I refuse to give it up. At least not yet.

Money Stress

I don't normally feel stressed about money. Mostly because I have designed my life's expenses to be way lower than my income. So I have a big cushion every month. This month that's not the case. I have so many obligations -- birthdays, weddings, etc. that I am spending a lot of money. I think it is bothering me because I feel like it is out of my control. Not that I resent my friends for the money I've spent, but I feel like I should be making cuts in other areas to compensate and I am finding that very hard to do. This is making me feel more empathy for those people who don't have a large cushion and feel like their expenses pile up each month out of control. Of course, in reality, I do have control. I don't have to attend all of these weddings and birthday parties. Or I don't have to be so generous with my gifts. But the fact if that I want to do these things, so I just have to give myself permission to spend more this month, and not stress about it because these are one time events. Here's to a more frugal (hopefully) August.