Improving My Financial Standing

Fortunately I have been lucky enough to receive three separate scholarships which have paid for my college as well as provided me with extra income. Unfortunately I was not very wise about what I did with the residual money. I would charge up my credit cards and then use the money to pay it off. Sounds good, Im building up my credit.. but the problem was: I did not learn the value of money. $3000 seemed like nothing to charge on my credit cards and easily pay off when the check came from the university. Of course, after four years those checks stopped coming, but I didn't stop charging! Now, $3000 is hard to pay down!! With no scholarship money and more living expenses, I am slowly paying down the debt that I have created for myself.

Here is what I plan to do to improve my financial situation:

-continue to pay down my credit cards and focus on getting out of debt

-start setting aside money for myself

-money for an emergency

-money for buying a house

-money for potentially staring my own business

-hopefully get a job that pays a decent salary so I can increase the amount I am putting towards all of the above!!

-Cut my living expenses

-reduce the cable bill

-continue to drive my old beat up (but paid off!) vehicle until I absolutely need to buy a new one

-cut back on eating out and watch the 'latte factor!' ( I actually got an espresso machine for Xmas so my Starbucks tab will significantly reduce!!)

-Try to be more aware of the little purchases that we all think of as nothing but really add up to a significant amount of money

-Create a budget and work hard to stick to it!

I have already drastically changed my spending habits. Although, I do struggle around Christmas time because I LOVE giving gifts. I no longer randomly go shopping to pass the time or buy things without really considering if I need it or will ever even use it.