For an investment professional, I sure suck at managing my own finances. I've been part of the work force for around three years now, but oddly enough, I've hardly saved up despite my lack of financial commitments. Perhaps it was due to the lure of spending. Even if I don't own a credit card, I almost always wind up spending my hard-earned cash on a spur-of-the-moment purchase. I am far from materialistic, but then again, being an amateur sportsman - a single man at that! - has its costs.
There came a point at the latter parts of last year, where my cash went down to four digits. It was a wake-up call. There and then, I decided to strictly adhere to certain austerity measures.
In the last two months, I've kept my expenses at a bare minimum. Aside from my monthly contributions to the household and day-to-day commuting and food costs, I hardly spent beyond the aforementioned fixed costs. I shunned late nights and stocked up on books. I spent my weekends at home and went out only for track & field training. There were the occasional nights out, however, but the costs were minimal - and manageable.
Instead of splurging during the Christmas season, I did the exact opposite. I opted to prolong the life of my gadgets, painstakingly repairing my old Pentium 4 PC and making do with my Pensonic DivX player. The only major expense was the cost of replacing the front tires of my 19-year old car. With the holiday season over, I'm proud to say that my cash position is at record-highs, with future outlays well-accounted for.
If I wasn't living with my fairly well-off parents, financial difficulties would have been a much starker reality. Never again shall I let my wanton desires to dictate my finances.
