alternative income http://www.wisebread.com/taxonomy/term/10695/all en-US Buying Shiny New Things Without The Guilt http://www.wisebread.com/buying-shiny-new-things-without-the-guilt <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/buying-shiny-new-things-without-the-guilt" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/5439996103_74727f61a5_z.jpg" alt="computer workstation" title="computer workstation" class="imagecache imagecache-250w" width="250" height="167" /></a> </div> </div> </div> <p>Around four months ago, I declared I wanted to buy a new computer <a href="http://www.thewriterscoin.com/2008/12/17/how-im-going-to-buy-a-new-computer-without-spending-a-cent/trackback/">without spending a cent</a>.</p> <p>Sure, the title was meant to be catchy and a little playful (were you not entertained?), but I&nbsp;had an actual system behind the hype. The idea was to save up all of my alternative income and use that money to save for a new computer. I&nbsp;wouldn't use any money from my paycheck or my savings. (See also: <a href="http://www.wisebread.com/5-money-making-activities-you-can-do-today">5 Money Making Activities You Can Do Today</a>)</p> <p>In other words, I'd pay for the <a href="http://www.wisebread.com/how-to-buy-a-desktop-computer">new computer</a> with money I'd never miss.</p> <p>The other rule I&nbsp;set for myself is that I&nbsp;wouldn't pull the trigger until I&nbsp;had enough money banked &mdash; no itchy trigger for me here. I&nbsp;had to wait until the money was there.</p> <h3>What Happened</h3> <p>Setting this goal for myself was great because it gave me a purpose. I started selling a bunch of my old books knowing that all that money would be going towards my new PC. Every time I&nbsp;wrote a new post on my blog, I&nbsp;knew the income I&nbsp;made from the site would go into my computer fund.</p> <p><a href="http://www.wisebread.com/setting-great-goals-and-achieving-them">Setting a goal</a> gave me something to work toward instead of just saving for the sake of saving, which was great.</p> <h3>What's This About Guilt?</h3> <p>I'm guessing other Wise Bread readers share this affliction with me: ponying up large amounts of money to buy stuff isn't easy. Parting with money is super tough for frugal people like ourselves, so whenever I&nbsp;have to (or want to) make a big purchase, I&nbsp;get very uneasy.</p> <p>I&nbsp;feel guilty for spending my hard-earned money. Shouldn't I&nbsp;be investing it?&nbsp;Saving it?&nbsp;Doing <em>anything </em>but spending it?</p> <p>Sure, but we also have to live our lives, and that's what money is for, right?&nbsp;To help us get what we want? To enjoy it?</p> <p>Easier said than done, and this budgeting trick has helped me overcome the guilt.</p> <h3>NMG:&nbsp;No More Guilt</h3> <p>When I got close to my goal, I&nbsp;told my wife that maybe it was all a bad idea. Maybe I didn't really need a new machine and that I&nbsp;could probably cope with my five-year-old laptop for another couple years.</p> <p>The guilt had crept into my foolproof system.</p> <p>But she was having none of it. She wouldn't let me. After all the hard work I&nbsp;had been putting in toward boosting my alternative income selling books and blogging, she said I HAD&nbsp;to buy the new computer. That was the plan and that was the purpose.</p> <p>So I&nbsp;did.</p> <p>And guess what?&nbsp;<strong>It feels awesome.</strong></p> <p>My new machine should be here by the end of the week and I&nbsp;haven't felt guilty at all. Our budget is on track, our savings are on track&mdash;it's like I&nbsp;never spend the money.</p> <p>And the best part is that now I&nbsp;have a system in place whenever I&nbsp;get the itch to buy something else. Until then, I'll go back to being the responsible, frugal (some would say boring), person I&nbsp;am: the side money I&nbsp;make will go into my high-yield savings account, where I'll let it accumulate.</p> <p>I won't be buying anything else anytime soon...I'll be too busy toying around with my brand-spanking new computer.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/carlos-portocarrero">Carlos Portocarrero</a> of <a href="http://www.wisebread.com/buying-shiny-new-things-without-the-guilt">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-retirement-latte">The Retirement Latte</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/are-you-putting-off-these-9-adult-money-moves">Are You Putting Off These 9 Adult Money Moves?</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-money-goals-all-30-somethings-should-have">10 Money Goals All 30-Somethings Should Have</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/getting-by-without-a-job-part-1-losing-a-job">Getting by without a job, part 1--losing a job</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/47-simple-ways-to-waste-money">47 Simple Ways To Waste Money</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance Budgeting alternative income budgeting computer extra cash Making Extra Cash saving Wed, 15 Apr 2009 12:24:24 +0000 Carlos Portocarrero 3049 at http://www.wisebread.com