2011 $Financial Wrap-up

December and January are always the good time to get our financial check-up and revisit what matters most. So lately I have been thinking about numbers, numbers, numbers, numbers and more numbers for the most part as what to expect in 2012 –such as savings (for emergency, for a child and etc), major spending and emergency expenses.

It can be difficult to foresee the financial situations over the course of months but I always like to be on the safe side by trying to keep some money in an emergency saving account for rainy days which you never know when, given that we are in today’s challenging economy. Before I go on with my story, I have to tell you that I am a CFO (Chief Financial Officer) of our household who foresees and manages every single dollar of the incoming and outgoing $$$$. The husband and I both work full time.


{image via wehearit}

Being in a position that I am, a CFO, sometimes I let the thought and fear of “uncertainty and job insecurity” get the worst out of me. You look around, see or hear people losing their jobs all over the country and literally freak out. Recently I heard a story of a coworker who left the company not too long ago because she found a new and hopeful career in an oil and gas industry (which is booming here once again by the way). A month later, she got laid off!! She was there just for a few weeks!!! Now she is out of work and looking for an employment. Dang - talking about an uncertainty here.


A minimum of six month emergency saving used to be a stardard to go by but now they (those financial experts/analysts) are talking about a year’s worth of emergency saving! Are you kidding me?! I have already had enough challenge with six month’s worth of saving, my goodness. It almost seems like you have to keep up with an inflation and weak dollars as you go. Since I am the kind of gal who would rather have money in the bank, I choose to put more stress in my life and save as much as I could.



Until recently I asked myself “Is this the life I want to live?”. I don’t want the stress of saving to take the joy in life away. At the same time, I can’t bear the thought of blowing the hard earned money I have saved for years to satisfy my material needs.


{image credit weheartit}

Everything has to be in moderation, I need to find that balance. Hello – Mr. Balance..where are you buddy?!?!?!?!?!?!?!?!??!?!?!?!??!?!?!?! I can’t find you.


Every year I learn something new on financial perspectives from my own successes and failures with personal money management. I am not a financial expert and I learn from trial and error. There are some major lesson learned in the area of spending / saving which I am happliy sharing them with you tomorrow in my Part II. Stay tuned.

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Are you more of a spender or a saver?