Payday #7: Emergency fund goal achieved

It’s been 3 months of blogging and $ tracking. My plan for the past 2 weeks was to stick to a $545 budget. This is $355 less than what I would normally spend (all on credit of course). Here’s how I made out.

Where my money went September 6th -September 20th: 

  • 🛍️$150.28 Groceries.
  • ⛽$40: Gas
  • 🍱$44.44: 1 work lunch and 1 after-work appetizer
  • 🍷$46.52 Wine
  • 🎁$35: Gift
  • 💇$36.03: Hair trim and colour. In an effort to save $, I went to a low-budget salon and as a consequence, my hair is quite uneven… likely could have done a better job cutting it myself. Lesson learned. Luckily I wear my hair in a messy wave, so I’ll survive until it’s time for another trim… I gave up on getting the hairdresser to even it out after she started to randomly cut strands and I just can’t justify laying down the cash to have someone else fix it.  The colour was an at-home box-job for $6.99. Luckily, it looks great!
  • 👚$90.50: New-to-me fall wardrobe including black pumps (with leather soles ❤ ),  dress pants,  jeans, 3 blouses, 4 sweaters, and a wool jacket. All high-quality brands and all in fantastic shape. At an average cost of $8/item, I’m happy with this splurge.
  • 🎶$100 Concert weekend: We cancelled one night so the cost was cut in half (which is why I decided to go thrifting instead)

For a total of $543.27 which is $1.73 under budget.  This is great, but I won’t celebrate too much since my budget was bumped up… I still need to cut spending back quite a bit to hit my goals.


Where my money is going September 20th -October 4th:

  • $475: emergency fund
  • $373 debt repayment
  • Other fixed costs

New totals:

  • Emergency fund: $1000.32 *Mini goal achieved!* 
  • Debt: –$33, 200  which is a total of $2,952 down since my first blog post in June, and over $6,285 paid off (and kept off) since January.

At this rate, I will need to pay $1667/month or bimonthly payments of $775 (not including interest fees) to hit my target of debt-free by June 2020. As I write this, I’m tempted to shorten my goal and step up my debt-repayment efforts, but I know that if I make my goal too ambitious, I risk sabotaging the whole thing. I’ll already be putting half of my take-home pay toward debt. If (when) my raise comes through, I’ll reassess.  For now,  I think slow and steady is best.

Plan for disposable income Week 1:

  • Groceries: $150
  • Entertainment: $30 undetermined (though, let’s be honest, it will probably include wine 😜)
  • Gas: $40
  • Restaurant: $25

Plan for disposable income Week 2:

  • Gas: $40
  • Groceries: $50
  • Gift: $50
  • Entertainment: $30. I’m taking my nephew to the movies.

For a total of $390/2 weeks.

Tune in October 4th to see how I make out!

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