Consumerism: Spend less

This morning I logged into my Wells Fargo account and did something I like to do with my "my money" week income: I paid down my bills and transferred money to my credit card.

I know this is something one should do all of the time but it took me longer than most to really build up a head of steam. You see, for most of my adult life, I have been in love with the trappings of making money rather than the eventual having of money for a future expenditure.

It all started when I bought my most extravagant purchase in my adult life: My television. Forty-two inches diagonal, 1080p and having all the bells and whistles one could ask for, I struggled for weeks with the intention of purchasing an LCD television. One day, on a whim, now it seems, I went to the store and took out an interest-free, three-year loan to buy an $1,800 television (including warranty and DVD player). But that's when it hit me.

Most of the last couple of years, finally achieving constant employment and a steady income, I finally realized I made a big mistake. I didn't need this television. And, if the television lasts for 10 years, it cost nearly $200/year to own it. What the hell was I thinking?

Compounding it with my recent love of cycling, another $2,000 spent this summer, and gambling, $3,500/year on average, and it's no wonder that I am debt-laden and pondering the life of minimalist.

What it all comes down to is that, after years of bad habits, I realize I got caught up in an expensive lifestyle. Thank goodness I make enough money to have this lifestyle but it has buried me. I owe more money, at present, than I make in a year (including student loans). I realize that, at minimum payments, I could only knock my debt down by $3,000 in the next year. Only $3,000! Meanwhile I would be paying $2,400 in interest over that time!

Most people who find themselves in over their heads try to change when it is too late. Not me. I started a couple of months ago. Any extra money I have in a month is going to be broken up as such: Additional $10/month to television, $50 extra to credit card, $50 to savings and changing the minimum payment to student loan by $25. Hopefully, in a year (or less) I have no television payment, cut my credit card by 1/3 and, finally, got my total debt below my annual pre-tax income.

Let's just hope I don't want some new toy. So far, so good.

Peace.

The biker wants more

After a rather strenuous ride this past week, I am now debating whether to spend more money on my bike. I have bought most of the accessories a rider could use, one who goes for exercise runs, and I am finding that I would like better stuff for the bike, not necessarily a better bike.

I love my bike. It isn't necessarily the best bike on the road and the Le Tour de France riders would more than likely laugh at me if we lined up at the starting line together but I like it. It is comfortable for distance riding (I average 20 miles a ride) and it still looks cool.

But there is always that itch in me that I want more. So now it may be time to open the wallet and just give in. I was told, today, that I could reduce the weight overall and I could upgrade the wheels to give it an even better speed feeling but do I want to spend a bunch of money on this bike or save it toward another bike? After all, bikes cost what they do and the components just get better on every model.

Now, don't think that I am going to move to a $5,000 all carbon fiber Cervelo when I don't have that kind of change lying around. I would just like to be able to kick more ass.

Maybe I just need to sell some of my other crap and then buy a couple new things. I'll let you know.

Peace.