Well, I think I can honestly say that when I make progress I always seem to sabotage myself and lose that lead. I start an exercise program, see results, then stop exercising.. It’s like I know that I can’t get to that finish line or it won’t be fun.
Same with personal finances. It seems like the more I save the more I spend on random things. I need to control this. So I implemented a plan that I’ve seen across the PF blogosphere. The 50-30-20 rule.

• 50 % – Essential Needs (rent/mortgage, food, cable.. etc)
• 30 % – Fun (non-essentials) (gym, eating out, vacations, books)
• 20 % – Savings (emergency fund and for the future)

I calculated this split after taxes and my contributions to my 401k, which I am happy to say I upped to 7%

Anyways, the real good part of this, I stopped my sabotage!

How you say? Well I just automated everything. I automatically deduct a set amount after each paycheck equal to the 20 % necessary for savings. ING made this quite easy. I then live on the rest.

Up next is the dreaded budget.. stay tuned