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The Online Space of Roslyn Carrington

and her alter ego, Simona Taylor

The Moneyblog

My finances and I do battle - who will win?

Money, money money....mah...nay!

 

Welcome to the Money Blog.  Money slips through my fingers like a handful of earthworms.  I have no idea where it goes or what I spend it on.  So, in a bid to be more fiscally responsible, I’m going to track every red cent that I spend over the next 3 months, starting today.  Think of it as performance art.  Or think of it as a chance to mind somebody’s financial business.

(Remember, I'm talking Trinidad and Tobago dollars.  Not worth hell of a lot, but it's all we got.  To convert to US, divide by 6.  To convert to pounds, divide by 13.)

[June 24] Fun while it lasted

Well, it was fun while it lasted.  This is going to be my last Moneyblog.  I'm glad for the chance to learn more about my spending habits, and to understand why I'm broke five days after my salary hit the bank.  After the last three months of intensive monitoring, I'm still broke after my salary hits the bank, but at least I know why.

But I know my weak points, I know where my money leaks.  I've learned the difference between different investment funds and I've actually made a commitment to mind my money better.  I've learned how to say no to expenses I don't need to incur - usually fattening snacks anyway, so I gain on the health front too.  I've learned there's no shame in picking up coins in the street to keep in my money magnet piggy bank.

The experiment probably won't make me wealthy, but it has made me wiser.  Thanks for keeping me company on the trip.

Tuesday June 12] - Lazy

Okay, the fact that the month is now 12 days old and I still haven't tabulated my expenses for the month of May should tell me something, but I don't know exactly what.  Is it that:

  1. I know I totally blew it last month and I just haven't got the guts to see my folly written down on paper?

  2. I know that this will be my last entry for the Moneyblog, as I originally agreed only to try this experiment for 3 months, or

  3. That I'm just plain butt lazy?

Hmmmm.

Monday May 29 - The Universe and me

Okay.  So my Prosperity seminar says I gotta pick up every coin I see.  Why?  Bear with me; I have to go slowly on this one.  I have to pick up every coin I see because it represents money sent to me by The Universe.  The Universe, by the way, is unable to distinguish between 1c and ten grand, and if it sends me a penny and I refuse to pick it up, then it'll deduce that I'm just not interested in money.  Then i won't get the ten grand it was planning on sending me next.

Got me?  Beats me why I bother ingratiating myself to a Universe that's just so dumb that it can't tell the difference between a filthy, beat up old coin and a fortune, but hey, I'll play along.  So, for the past week and a half I have been furtively picking up coins in the most inappropriate of places. On a good day, when the Universe is smiling at me, I can net maybe 35 cents.  On a bad day, when I'm jut not resonating high enough, I skulk away with a measly 3 cents.  I've learned about my newfound career in coin-scavenging, reproduced here for your edification:

  1. Never pick up coins inside a supermarket or a bank.  The parking lot, however, is fair game.

  2. At work, coins spotted anywhere near the President's parking spot is off limits. 

  3. Don't try to scavenge coins near the security guard's booth.  Not only will it make you look cheap and weird in the presence of someone who makes a tenth of what you do, but it will brand you a trouble maker and make you fair game for a full body search.

  4. Nasty, stomped-on old wads of chewing gum will, from a distance and in the right light, look remarkably like coins.

At my current rate, I'll have my 10 grand before I die, easy.  Thanks, Universe.

[Tuesday May 22] - Coin collecting

Question: is it lame to spend hours sorting and counting about 8 pounds of coins that have been secreted around the house in various bags and piggy banks, packaging them and lugging the grocery bag full of loot to the bank? 

Or is it a brilliant stroke of frugality and money management?

You decide.  These things are heavy.  My arms are tired. 

P.S. - Finally finished counting my coins: $372.00!  Eat my dirt, baby!

[Monday May 7] Moderation!  Moderation!

I think I'm taking this Economic Severity Programme a little too far.  On Friday Rawle took me to Benihana's, that Japanese restaurant where they juggle knives and cook at your table and throw food at you.  It's brand new to Trinidad, only been here a month, and it's all the rage.  I was dying to try it out.

Now, I'm almost ashamed to tell you this, but we're homies, right?  I can tell you, right?  I've become so obsessed with the discovery that my major financial weakness is food, that I was afraid to order.  Even though Rawle was buying. He ordered the chicken and steak and I ordered...a bowl of mushroom broth.  I mean, there I was, staring at the menu, which was just bubblin' over with mouth-watering stuff that I'd never even eaten before, and I was in a near state of panic.  I was actually hyperventilating.

Less than five minutes later, hunger and common sense got the better of me.  Sure, frugality is great.  But we don't work just to survive.  The money we make is for us to enjoy the pleasures of being alive.  So I called the waiter back and ordered the piquante  chicken.  He was a little pissed because he'd already sent in the order, but at least my breathing returned to normal.

Sometimes I do such dumb things I don't think I'd talk to me if I wasn't me.

[Friday May 5] - I done good!

Just finished my accounting.  What  great idea it was, to track my spending.  I've learned so much about myself in the past two months. For example, the fact that I've only spent $20 on myself in two months (brow wax) pretty much says I should be doing more for me.

But as for my resolutions for last month, well, ya win some and ya lose some.  I promised to reduce my snack bill - done.  I promised to reduce my eating out expenses - done.  I promised to decrease my grocery bill by 20%....and it rose by 40%.  You win some, you lose some.

By the way, this Lotto thing has been shot to hell.  I've only bought two tickets this month, instead of the promised four.  I keep forgetting.  Or maybe something deep inside me rebels at the idea of slinking into a Lotto store and handing over $5 for a week of pointless fantasy.  

Tuesday May 1st - Feeling groovy

So, we enter a new month.  I haven't done my accounting for April yet, but I think I did okay.  Better than last month, at least.  I think I'm learning.  Will post my results as soon as I'm done with them.

April 2007

Friday April 27 - Experimenting with Investments.

At least my 25 book challenge is paying returns.  Book #7 was Investing for Dummies, and though it was a rough ride, I did learn enough to allow me to pick up a few prospectuses for some mutual fund and pick two, one Income and Growth and one Money Market.  And thanks to Eric Tyson, the author, I actually know the difference!  Hooray!

Just don't ask me to explain it...

[Friday April 20] Signs of improvement

You know, I think my Economic Severity Programme is beginning to pay off.  I'm 5 days away from payday and I'm not leaning on my credit card or running to draw on my savings account again.  Hanging in there.  And at least I am more aware of my fatal weaknesses.

Here's my new mantra:

My credit card is not a toy.  My credit card is not a toy.  My credit card is not a toy.  My credit card is not a toy.  My credit card is not a toy.

Repeat until it sinks in.....

 Tuesday April 17 - Good advice

I came across an old brochure on managing career and motherhood while I was cleaning out.  It was pretty good all around, but one piece of advice stuck out.  It was about reducing your credit card debt.  It says you should only charge half as much as your last payment.  I actually sat there and stared at the page.

My God, so simple, why didn't I think of it?  Each month I pay huge chunks of money on my card, (last month 15% of my spending went to card payments, which was rivaled only by groceries) and then wallow in debt to such an extent that my next bill always leaves me asking; what happened?  It's such an easy way to manage and control the use of my card.  If I do it that way, my card will be clean in about 4 months. 

I can't hardly wait to go out there and not spend.

Wednesday April 11 - Trying really hard

Made my first major foray into the supermarket since I did my accounting and realised exactly how much I blow there every month in there.  I'd made a whole bunch of new guidelines for myself, so i was a little nervous to see if I'd stick to them.

I have to tell ya I didn't do too good on the part with the no-imported-beans and stuff.  I tried out a can of local peas and carrots last week, and, well, let me put it this way: half of it is still in my refrigerator, waiting to be thrown out, slowly becoming a science project.

It was ghastly.  The peas were awful-tasting reconstituted formerly dehydrated crap and there were maybe 8 or 9 oddly shaped chunks of listless carrot floating on top.

Listen to me good.  I like food.  Food is one of my favorite things.  I don't spend money on clothes or shoes or makeup or vacations abroad or dirty mags.  I spend it on food.  I love cooking, and I'm damned if I sacrifice the quality of the meals I feed my family all because I'm skint.  I've decided to go ahead and buy the good stuff, even though they cost twice as much.  So there.

I did okay on the other stuff, though.  I kept as local as I could, and resisted the urge to stockpile.  And believe me, I am a stockpiler.  I once had a French friend who said I stockpile food like somebody who's just gotten out of a concentration camp and is terrified of one day being without food.  And he had a point. 

So, more or less, I managed to buy just enough for a month, or a little more.  Hooray for me!  All the same, I'd gone in there with the silly idea that I'd manage to bring it all home for about $400.  The damage?  $886.57.  I guess I still have a lot to learn.

Wednesday April 4 - numb with shock.

After a solid month of money-blogging, I did my tally of my spending for March.  I am numb with shock, speechless, astounded, dumbfounded, and a whole lot of other 'deds'.  I must be insane.

Ladies and Gentlemen, it has just occurred to me that  over the course of the last 31 days, I have spend approximately 22% more than I earn - and that don't count tax.

How?  Why?  Was I dunk?  What the hell accounts for such disgusting profilgacy?  Is profilgacy even a word?  It's sickening.   and it means only one thing: I'm living above my means, siphoning off my savings, and pounding the hell out of my credit cards.

And it's got to stop.  Join me here as I don my sack-cloth and ashes and try to regain control of my catastrophic financial life.

April 4 continued: March in review.

 First of all, the Awards.  (Hey, I could at least get a smile out of this disaster, considering I'm going to be starving for the rest of the month.)

And the nominees are:

We'd like to thank the academy....

So, what comes next?  The answer is simple, but not easy.  I'm going to have to come up with a Marshall Plan for my money.  For instance, my grocery bill is always high.  I love food, and love to cook.  I love high-end, imported foods.  Well, this month, I'm going to try to live off of...shudder...the generic local crud.  No more decadent Italian pastas.  No more Bush's baked beans.  This month, that bill has to go down by 20%.

23% of my grocery bill consists of snacks, cakes, ice cream and chocolates - for me, not the kids.  Down by 30%.  Ouch.

46% of my grocery budget is eating out.  And I don't mean candlelit dinners.  I mean KFC and buying lunches at the cafeteria on days I don't brown-bag my lunch.  Sorry Colonel, I'm dumping you.

This month, the tracking continues...and this time, my awareness is raised.  I need your encouragement.  better yet, send me some money.

Tuesday April 3 - Nickels and dimes

I just sat down and did a serious evaluation of my liquid situation. i.e. I added up how much money I can access from my own instruments - savings, money markets, insurance, etc. - if I really needed to.   Actually, it was a little more than I'd imagined (good) but not all that accessible.  For instance, the market is down, so if I sold my shares, I'd lose money.  In other words, the money is there on paper, but it's not the kind of paper money I like. 

Which is way too damn depressing.  It just reinforces the fact that, here I am, earnestly trying to save nickels and dimes (cutting back on Hagen Dazs!  Augh!)  And yet when I need money (like now) I can't reach out and touch it.  Ain't that a bitch!

March 2007

March 28 - I need $10,000

I've been tracking my money for almost a full month now.  Getting pretty disciplined about it, too.  And it's been helping me find patterns in my spending, and raise questions in my head about how to cut back.  But ain't it just the way.  Just as I'm in the middle of trying to decide if I really need imported, perfume free laundry soap, when the local, stinkily-perfumed stuff costs about half, or whether I really have to have a scoop of Hagen Dazs every afternoon at the cost of $11.99, along comes an expense that makes these little frugalities a joke. 

I've asked a carpenter to quote on cupboards and shelving for my house. (Oh yeah, I need it.  I've got so many piles of boxes (mainly books) in my so-called study that I can barely walk in there).  $10,000!  Just goes to show you that an unplanned expense can hit you for six at any time.

Next step is to collate my expenses for the month of March.  Try to make sense of it.  This'll be good for a laugh.  Pass by in a week or so and let's laugh at poor old Roslyn, shall we?

Wednesday March 21 - Confetti

I've got a nasty habit.  No, not that, that's a pretty delightful habit.  I'm talking about the other one, where I throw away bank statements.  I mean, yeah, I'm conscious of the whole identity theft thing, so I shred it into confetti first, but I sure as hell ain't filing the things.

Until last week, when I received a disconnection notice from the electricity company claiming I've been carrying a balance since September.  All $498.00 of it.  Huh?  What?  ME?  I pay my utility bills the day I get them, over the phone.

Panic!  Rushing through the pile of grocery bags my housekeeper stuffs with bits of paper she doesn't know what to do with.  Anyway, praise the Lord, long story short, turns out the ONLY bank statement I do find is the one that reflects my statement.  Do I have a guardian angel or what?

Suffice it to say that henceforth, I will be keeping all statements.  Will need to spend a little money on a new filing system, but it'll all be worth it.

Thursday March 15 - Aw, rats!

Well, as it turns out, my red letter day was a gray one after all.  I just remembered I bought myself lunch yesterday: barbecue chicken and potato salad.  $22.00.

So the quest for a spend-free day is back in play.

Tuesday March 13 - Red letter day

Red letter day, people.  On this day that will live on in history, I, Roslyn Carrington, did not spend one red cent.  I got a little nervous around 5 o'clock, when I had the overwhelming urge to cook green peas soup for dinner, but didn't have any pumpkin.  What's green peas soup without pumpkin?

I even stopped at a roadside stall to get some, but my lady didn't have any, so I guess I can't really take all the credit for not spending anything.  But it feels sort of good anyway.  maybe there'll be more days like this.

Monday March 12th - Patterns

The month isn't half-way through yet, and I'm already broke, relying on credit cards and dipping into my savings.  Just like I do every month of my life.  if this experiment is going to be of any value, I'm going to have to spot patterns in my spending and eliminate the destructive ones.

I already realize that one of the biggest drains on my money is stuff I buy and then throw away, especially food.  Food I thought I'd love to cook and then couldn't be bothered, food I cook up a whole bunch of and then don't feel like eating, food I cook and freeze for a day I'm too tired to eat, and then don't feel like reheating...you get the picture.

[Thursday March 8] - Lotto newbie

I've been thinking.  (Yeah, it happens.)  If I'm really going through with this Lotto a week lark, I really ought to find out:

  1. What day it draws

  2. When and where they publish the results.

It'd probably help.

Tuesday March 6th - The Haves and the Have Nots

Had an interesting experience that showed me what it must feel like to be completely destitute.  I was sitting in Pediatric Emergency with my son on my lap (check story out here).  I'd given my handbag over to my mother (can't remember why) and we'd been there a few hours.  He was fractious, I was starving.

Along comes a Rasta selling peanuts. It's a Rasta specialty - no idea why.  Pretty soon, everyone in the waiting room was munching on these heavenly-scented, warm peanuts and commenting to each other how good they were.  I was giddy with hunger, desperately fiddling through my jeans pockets for a stray $2, but nothing.  Then I realised that was what it felt like to have no money and be surrounded by people who do.  I considered:

Thursday March 1st - Day One

 10:36 a.m.   Haven’t spent a cent.  Unusual for me.  Making me kinda nervous. 

11:31 a.m.

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