Trade The Journey

Trade The Journey

Weekly Progress: Within Range!

Happy Easter if you celebrate. Hope all is well and the previous week went well for you. The NBA playoffs started, and most of the games were competitive. It will be interesting to see which team comes out of the East Conference. The Golden State Warriors are held as the favorites to win the Western Conference and ultimately three-peat.

If Portland can remain resilient in their series against Oklahoma City, they may be able to challenge the warriors. Those are my predictions.

This week was quite reasonable with regards to saving and spending. Although I can say that I held steadfast to my money management principles, challenges did emerge. On one of the days, I proceeded to spend and then spend some more. I’m surprised I was able to stop the oncoming spending avalanche.

I kept spending, and I kept rationalizing. I brought everything I wanted that day, and I rationalized that I could spend a little more. The total for the day was $60. That’s 60 dollars on frivolous purchases. If it weren’t for my spending journal, those purchases would remain a mystery.

Improvements
This week I made a conscious effort to save a portion of my paycheck before spending. For the past year, I was not making an effort to save more. I had developed an attitude of complacency. Even though automatic deductions assist me in saving, I want to save more. This way I can develop a cushion in case I experience a cash flow crunch in the future.

Mishaps
Of course, there’s the infamous spending spree I mentioned earlier. I also failed to develop a new money management strategy for the upcoming week. My credit card also saw more action this week. Weeks ago I decided to separate some of my bills. Some of the bills are linked to my credit card.

Actually all my accounts are separated to help me better manage my money. If you only have one account for all expenses, funds can easily be used for the wrong expense or purchase. How many times have you spent the electric bill on eating out or a new tech toy?

Of course that’s just an example but you get the point.

All in All, it was a decent week filled with mistakes and some improvements.

The Upcoming Week

There must be some new strategies I can develop. A part of me thinks that a good plan takes time to develop. Another part of me is thinking of a quick scheme could bring me a quick dollar.

Ideas

  • Contributing a much more significant amount towards savings on payday.
  • Think about the potential purchases in the upcoming week.
  • Invest in research and development.
  • Creating and managing social media. Increase youtube presence.

The grade for this week is a “C”.

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