Monday, June 13, 2011

The C.R.E.A.M. Update

I finally got my money, an issue I agonized about in a previous post. I had great plans of how I was going to use my hard earned cash. I was going to save, pay off some debts, and have some fun. But because I’m trying to explore my financial literacy, I’m going to do more saving than I originally planned.

Now that it’s getting warm, the No Goods are making their presence known in my neighborhood and that pushes me further and further toward my homeownership goal. But as much as I’ve been saving, I fear that have not saved enough. So I toss a chunk of the cash into my Dream Home Fund, lock it up and throw away the key.

My new car came about with a great deal of help from my parents. I don’t like to owe anybody anything, so I took another chunk of dough and hoped to pay them back the rest of the money I owed them. However, they threw me for a loop when they told me they didn’t want it, that I should use it to save for the Dream Home. So I took their chunk and placed it in a CD, money that I can’t touch until fall 2012 after it ears a good interest rate.

That leaves a little bit leftover for me. What shall I do? My early plan was to place some into my Sharebuilder stock account and then another chunk in my Vacation account (I’ll be in Martha’s Vineyard soon, there’s nothing cheap about that!) However, there are the Wants, like a new television, a new iPod, a new guitar. Hell, maybe even a new wardrobe. But I’ll tread lightly, because I know that my list of Wants could get pretty extensive.

(Photo from


Tbyrd said...

"...I know that my list of Wants could get pretty extensive."

Same here
As for me, I'm trying to put down the plastic and pay for everything with cash only. It's a struggle.

Strength/Courage/Wisdom said...

It is hard. I was actually able to pay off my credit card debt earlier this year. I will do everything I can to keep it from coming back!