Progress Report # 2

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March 2, 2013 by myfabfico

So it’s been about a month since my last progress report and so much has happened since then. I’ve had friends in town from LA, Australia, and Chicago as well as my mother. I also went out of town for the bridal shower. Let’s just say, I haven’t been really good, but I haven’t been really bad. Overall though, Im proceeding with caution.

I have made gains in a few areas.

– Reduced my utilization on my Capital One Card, will pay the balance off next paycheck.

– Became an Authorized user on one of my dads accounts that is in good standing with a $0 balance

– Acquired a MasterCard with rewards (6k limit) and a Citi Diamond Preferred card (1K limit), both fairly respectable limits for someone who was in the rebuilding phase 6 months ago. I’m on Prime Card status yall!

– I am on track with my savings account. I currently have enough stowed away to cover at least one months rent.. you gotta start somewhere.

– I was quickly approved for the first apartment I applied for on my income and credit alone, in less than 24 hours.

– I’ve bought my one pair of sneakers alotted for the year and stuck to it. Other than that my clothing spending is down significantly (I did buy a few items with my tax return but I’m done. I bought what I needed which was an awesome pair of black jeans by CARMAR my fave denim ever!!).

– I stopped myself from dropping 2 months utilities on Beyonce tickets.

But I’ve been a mix between financially fab and financially frivolous as well.

– I have exceeded my dining out budget of $25 per week almost every week since my last progress report.

– I recently went on an Auyeverdic hair care binge complete with soaps, shampoos, a $20 microfiber hair towel, henna treatments, oils, powders etc. This was excessive considering I have plenty of hair product to last a good 3 months into an apocalypse if necessary.

– I upgraded Zorie to the good cat food (Wellness). Zorie isn’t my first cat but he is my first cat to have wet food in his diet. I know Zorie is an animal, I’m completely aware of that, but Zories excrement smells like the entire lions den at the Bronx Zoo. I think that the Meow Mix/ Fancy Feast has something to do with it. I also had a cat that suffered a blocked uretha as a result of the corn by-products etc. The surgery to repair this was around $1,500. So yeah $1.00 cat food here we go.

– I’ve been paying for alcohol when out. I am much more mindful, but nevertheless I’ve paid. I’m still trying to figure out if bottomless Mimosas that come with brunch count.

– I’ve spent way more money than whats allocated in my budget on cabs. I blame it on NYC winters and visitors.

– I have not kept track of my spending at all in February

What have I learned? I’m pretty good when I’m by myself (no visitors).. Actually im like financially awesome when solo. I also realize spending is like the Hoover damn. Once I start spending. It just happens and happens…and happens.

So these three areas a my challenge areas and I’m going to work very hard at addressing them. Right now I’m at a 686 credit score. 14 from 700 and 64 from 750. I can do this.

Items coming up

*Our Move and how I remain financially fab during the move

*A birthday trip to Paris and London with my mother and sister in June

*As far as the blog, Im about to begin sharing my tactics. I have several friends who contact me asking for help and advice and Im going to begin laying my cards out on the table. I have been hesitant about doing this because I dont consider myself an expert, but obviously what I’m doing is working so…

Lets go.

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