Hello,

I am starting this log to track my spending/savings and eventually investing habits, and also to keep track of resources that I find for frugal living.

About me -

I'm a 22 year old recent mechanical engineering graduate.

Total Debt

Student Loan Debt (had to defer for one year): $23,066 (one federal loan)
Car Debt (current amount owed as of today): $11,945 (APR: 0.9%)

Monthly Expenses

Rent: $600 (utilities included)
Car Payment: $262
Insurance: $198
Bank Loan: $158 (will be making my last payment this December)
Student Loan: $245


Current Income

Day Job: ~$1900/month after taxes. I work a temp/contract job (I am still job-hunting for a permanent job). This job will be done at the end of February

Night/Weekends Job: ~$500/month after taxes. This is a seasonal position that I'm working Nov-Feb

11/29: Fiscal fitness? Poor

To Do: Open a savings account to put away emergency money (especially since I don't have much job security) [+10] Goal: To motivate myself by watching my savings grow, and invest the interest into more savings

Find a cheaper place to rent by sharing an apt / house with others (goal is to pay ~$400 / month) [+50] Goal: To pay for my expenses with just my retail job

Finish paying off the bank loan so that I can focus on making larger payments for car and student loans [+20] Goal: To focus only on the most expensive debt and minimize it.

Continue to avoid credit card / other personal debt (probably the only thing I'm doing right ) [+0.5] Goal: Obvious..

Learn how to clip coupons / grow food (more posts on container gardens) [+30] Goal: Stop eating out, par down monthly expenses as far as possible.

Find a job ... [+100] Goal: Obvious ...

Continue to apply / interview for overnight positions (can keep up my current schedule and have days free when I go back to job hunting full time [hope I won't!]) [+60]

Good on you. Stay focused and you'll reap the rewards.

I think you should open a savings account today (or tomorrow when the bank is open) and score 10 quick points.

How do people live without a savings account?

Start a savings account, NOW!!!

Work out a better budget, there's nothing in your current info about food/entertainment/fuel and so on.

Quick maths says you've got ~$1k spare a month until Feb. that's can't be right as other expenses aren't included.

I carry a notebook with my running totals. I find it helps me focus, as well as using this blog.

Fuel: $40 for every week to week and a half (especially now that I drive more with the extra work) = $120-160 / month

Food: $30 for every week for groceries + ~ $30 / week for eating/going out = ~$60 / week or $240 / month

Toiletries / Non-Food Items: ~$30-60/month (I don't go clothes shopping much)

Cellphone: $10-20/month. I use a Google Voice/VOIP for longer calls like calls w/ potential renters (I'm looking for a new place), or for job leads. I use a VirginMobile pay as you go $10 phone for when I'm on the road or need to take a personal call (family, etc), and "Top Up" about twice a month.

I expect to spend around $150-200 on Christmas presents, btw.

So I probably spend about $400-500/month on things that I could par down / scale back on. Wow. Hate to see it laid out like that ...

11/30 +10!

Signed up for an ING Direct savings account.

To add to to do list: Figure monthly expenses (got to sit down w/ my receipts) [+20]

Set up Automatic Savings w/ said account [+5]

That's not a bad idea - especially keeping my savings account balance in mind will help me not want to touch it at all, and I can also use it as a game - whatever costs I cut can be funneled into the ING account.