If Betty Ford would have been 29 in this day and age, I would have followed her blog.
For those international readers who may be unaware, the late Betty Ford, former U.S. First Lady and equal rights activist, was deemed a pioneer in admitting her flaws to better the world, as seen with the renowned Betty Ford Center.
Sometimes I wonder if we are partially flawed because we can't fix what we don't openly admit is broken. While I like to consider myself a creative saver with my finances, for a long time I tried to "keep up with the Joneses," to prove that the small town girl could "make it" in the city. As a result, I think back to a few nights where a walk vs. a cab ride and dining-in instead of dining-out could have resulted in my savings account having a few extra dollars instead of my waistline having a few extra inches.
Bottom line: I used money as a crutch to enhance my image instead of becoming more comfortable and confident in myself as a person. Fortunately, my current paycheck allows for a few luxuries, but that doesn't mean i shouldn't continue to "cut corners" when possible. Now, as I save up to build a weekend house and payoff my student loans early, I am once again reevaluating my spending habits. A few tips that have helped me:
1. Putting funds into perspective. While I wouldn't change the trip home last weekend for Independence Day with friends and family for the world, I must remember that holiday spending should be much different than everyday spending. The $580 spent on the trip to Iowa for four days is about equal to five months of groceries or my mobile phone for seven months of cell phone coverage. Wowzers!
2. Next day purchases. As for non-service purchases, I try to find the deal and then make a purchase the next day when possible. You wouldn't believe how many things I've talked myself out of buying in that 24 hr time frame.
3. Will it impact the price of gold in China? In other words, will the purchase actually make a difference? Does a new pair of earrings really impact how I'm perceived? Will the upgraded car rental do anything but guzzle more fuel? If I can't truly justify the cost, then why spend the money?
Here's to admitting when I need to reevaluate and redirect areas of my life, and more importantly, here's to the people who serve as a "cautionary tale" to benefit those around them.
Thank you, Betty Ford.
