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
- 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!