Thursday, September 23, 2010

Reading Debt Blogs!

I'll admit it... I've become a bit obsessed - with reading debt blogs! Debt is something that is on my mind multiple times a day. I'm anxious to get my new plan/budget going, but I'm holding off until after the wedding. Which is in 17 days, by the way :) Come on, 10-10-10!

So, it looks like the official new budget will start in November. In the meantime, I've been reading blogs and working on the budget through 2011. I found a great list of debt blogs to read and I plan to work my way through them, one by one. Like a boxer before a fight, I want to get myself pumped up, mentally, to take on this challenge!

One that caught my attention mentioned a $100-A-Day-Rule, to prevent impulse buying. Basically, for every $100 that a new item costs, you must wait one day before making the purchase. You can read about the concept in more detail by clicking on the link above.

I really like this idea! Although my new budget doesn't have much wiggle room (read: none, really) for any random $100 purchases, I know it could come up and I plan to implement this new rule.

Good Idea : Implement $100-A-Day-Rule

Question : Do you currently do this? If so, how is it working. If not, do you think you could do this?

1 comment:

  1. I definitely think I could do this! Like you, I rarely have a $100 expense, but I'm a true believer in WAITING before making any purchase. For instance, if I really want/"need" a pair of shoes one night, I'll say, "Okay, Red, you can buy them, but wait until tomorrow to do it..." Usually by the next day the craving is gone, and I can apply the money I would have spent to my debt. :-D