Thanks for all the positive feedback. The storage fee in the budget is for a storage unit in Colorado. I am in North Carolina. That is a bill I hate paying.

The first week of the December challenge is over. Here are the results.


The Easy Goal
---Set up and use envelope budgeting system. BE FRUGAL.

Surprisingly staying on budget last week was easy. I am using an envelope budgeting software program, called Budget for Windows. At this rate I will be able to save over $10,000 during the next 10 months.

Right before starting this challenge I paid off one credit card. Last week I transferred the balance of the other card to a card with no interest for 6 months. By paying the budgeted $200 a month, it will be paid off in 6 months.

I don’t have plans for the extra $200 a month during the last 4 months. Maybe another website.


The Hardest Goals
---Work out daily - cardio, weights or stretching

I was supposed to work out every morning. I didn’t workout any morning. I worked out most evenings though. I already get up very early and getting up even earlier is killing me. I guess it is just a matter of self discipline.

In the coming week I will force myself to role out of bed and get to it. I want to alternate nautilus and cardio machines in the mornings. On weekends I will add Pillattes. Eventually I want to add 1 hour of walking after work, while listening to books on tape. I’m off to a slow start, but I did get started.

I think I set some specific performance requirements and use a Carolina Shag class in January as a reward. Shag is type of swing dance similar to west coast swing. It is usually danced to beach music.


The Hardest Goals
---Eat in a very healthy, low glycemic index style (no dieting)

I did eat 6 small meals a day. But I think I might have gained weight. Need to emphasis the “small” more. Weigh in is in the morning along with the body fat calculations.

Being a Tightwad is making this harder. I eat lunch in a cafeteria for a flat rate of $3.50. I eat a large salad, 2 veggies, 1 carb and about 3oz of protein. I feel like I am wasting money if I don’t clean my plate. I am stuffed after that. I guess I should cut way back.

Another problem is getting stuck out of town at lunch. I end up delaying lunch and eating in a restaurant. That is expensive and unhealthy. I need to carry some emergency meals so I can stay on target.

I have thought about carrying a couple of meals in my Mr Bento, Japanese thermos lunch box. It would be cheaper I think.



One Last Hard Thing To Do

I didn’t keep track of hardly anything after the first couple of days. I want to make a record of spending (I did use the envelope system), workouts or eating. I didn’t make any entries here either.

About 15 years ago I did a spending log as it was recommended in Your Money or Your Life. The results were shocking. My spending was trivial and not aligned with my values. I think keeping track of things for a while will help me make my life more congruent.

I am rebuilding my life from scratch. I am unhappy with my life. I am not concerned with how I got here. I am focused on building a happy and fulfilling life. During the next 10 months I will create a life that I want to live. I will have to make a lot of short term lifestyle sacrifices to build a sustainable fullfilling lifestyle.

The key to doing this is getting control of the critical areas of my life and building new skills. I want to simplify my life and fill it with what matters most to me. If your life is filled with the trivial there isn’t enough room for the important.

This will be done in a series of challenges. The first will be 1 month long. The three after that will be three months long. This blog will provide some accountability.

December Challenge Goals
1) Set up and use envelope budgeting system. BE FRUGAL.
2) Eat in a very healthy, low glycemic index style (no dieting)
3) Work out daily - cardio, weights or stretching
4) Regularly use Franklin/ Covey time management system.
5) Research and chose one second income stream.
6) Learn speed reading.
7) Learn validative listening skills.

The above are listed in order of importance. That is why this is a personal finance blog and not a fitness blog. Money represents the time you traded for the money. Your time is your life. Your life is the most important possession, so that makes money management critical for building a life.

I really want more goals but I think trying to more will decrease the chance of success. I have much experience taking on more than is possible. These will be covered in more detail individually later.

I take home $523.00 a week. Below is my starting envelope system. It will change as needed. My pay check is distributed between envelopes as follows.

Envelope Budget System

261.50 Savings
50.00 visa payments
5.50 Earthlink
15.25 Storage
5.00 Audio subscription
16.25 Auto insurance
25.00 Rent
6.25 Gym
5.00 food
25.00 Gas
4.50 hair cut
2.50 mail box
36.25 contingency
20.00 pocket money
523.00 MONTHLY TOTAL

It begins now.