What to do to save money for a hike???
OK-
So I am in a fairly recession-proof field (medical equipment) and hate it! Before my last hike, I was with a company that allowed unlimited overtime so I only saved for a couple of week before I started hiking. This job while secure, doesn't pay that well and has zero overtime.
After ALL bills including food, I have about $900 per month left over for discretionary spending. My problem is I end up spending it on “stuff”. Nothing I need just going out, computer parts, etc…. How do I train myself to save MOST of it so I can hike sooner rather than later? When I say hike I mean, once I save enough, I go out and hike for as long as the money holds out then come back and work somewhere to earn more to go back out and hike (seeing a pattern?) Things to keep in mind, I live in Denver and do not drive. So I have to rely mostly on public transportation to get around. I’ve got that covered as my student fees cover “free” fair on all of the buses and light rails in the area. While that is fine for getting to the nearest mall, super store or movie theatre, it does not do so well getting to a variety of trails. I can get to a few but the mountainous ones are about an hour and a half to two hours each way. So hiking, other than the bike trails, is out of the question except on the weekends.
So there you have it. Oh, I do like to drink a couple times a week, I love NFL football (go Cowboys!) and I am a Gemini. Any of you into astrology know how Geminis can be and I fit it to a T. Except the one thing that I never lose interest in is hiking. SO, any ideas on how to effectively save instead of spend while keeping me occupied? I would love to hear some ideas.
Thanks all!
Some additional thoughts....
I feel your pain. I LOVE to spend money and I am VERY good at spending it! I am a recovering gambling addict (almost 27 years "clean") and I have worked as a drug and alcohol counselor in the past. Here are some things that I (and my clients) have done to help save money:
1. Set up a special bank account (preferably NOT a checking account)--and have a certain amount of money direct deposited into that account each paycheck (either via an automatic electronic deposit made by your employer or via an automatic electronic deposit from your regular checking account into the special account). If your employer can do this for you as an automatic direct deposit--it will automatically be deposited in a bank account each payday and it will not even be on your paycheck for you to cash and spend. So you might not miss it as much.
2. On your W-4 form at work, you can designate a certain dollar amount "extra" for your employer to withhold from each paycheck for income tax purposes. Once your employer withholds it an mails it to the IRS, you would not have access to this money UNTIL you received your (much bigger) income tax refund in the spring. (Just in time to start a NOBO Thru-Hike).
3. Set up the special bank account so that it requires TWO signatures in order to make any withdrawals. Then pick an individual who can easily tell you "NO!" to be the second signer on the account. If they don't co-sign on the withdrawal, you will have a much more difficult time withdrawing your money.
4. Keep the bank passbook (and all other documents needed to make a withdrawal) in a safe place that you cannot easily access (such as in a bank safe deposit box and/or in the possession of the person you selected to be the second signature on the special account). If you cannot easily get access to the items needed to withdraw money---it will stay the bank longer. This makes it much harder to make "impulse" expenditures.
5. You could also put the money in a 6, 12, 18 month (or longer) Certificate of Deposit--where there is a substantial penalty for withdrawing the money early. The penalty takes the fun out of spending!
6. When I was in the "rough" early stages of my recovery from gambling addiction, I would give a trusted friend or relative all of my blank checks, ATM cards, credit cards etc. I then had them give me just a small cash allowance each day (or each week) for my spending money and for incidentals. I literally had to come to them to get access to my checkbook in order to pay my routine bills. I paid my bills in their presence and handed the checkbook back to them (for safekeeping) after I wrote the checks for my bills. (This system worked because THEY were not the ones imposing the limits upon me. I was the one imposing the limits upon myself. They were merely helping me execute MY plan).
7. What to do with your free time in order to help keep you from becoming bored and wanting to spend $$$? Get a part-time job--even if it is flipping burgers at the Golden Arches. Put all of that extra money from the second job into the secure account mentioned above.
8. You can also fill your hours by volunteering with some organization. Get a hobby. Work out at a gym etc. However, most of those things will cost you money. A second job will help you EARN money. (It is also harder to "blow-off" work in order to go out and spend money. It is pretty EASY to skip your evening jog in order to go have a few beers with friends!
Have fun saving for your trip!