In Budget Roundups, Money, Style

February 2019: Income & Expenses Budget Roundup

THE INCOME = $25,370.66

Day Job: $22,903.02

Day job .. is my day job. It’s what I earn each month, working 40 hours a week. Nothing to see here. Boring.

Anyway.

Blog: $1233.82

Advertising: $446.88

Affiliate: $400.94

Products: $386

Save. Spend. Splurge. Products sold, include:

https://www.savespendsplurge.com/products

INCOME GOALS FOR THE NEXT MONTH

Try not to lose my #%(#%. That’s my goal.

THE EXPENSES = $4848.37

If you’re interested, I use the following credit cards:

  • Rogers World Elite Mastercard – No annual fee, 1.75% cash back, but you can only redeem it yearly and you have to call each year to ask them to redeem the credit against your next year’s statement. I use it for all my purchases as I buy a lot in USD$, and those purchases are 4% cash back (almost like a no forex fee in essence)
  • Tangerine Mastercard – No annual fee, 2% back on certain categories (up to 3). For their savings accounts, use my Orange key { 32726976S1 } for free money ($50 once you deposit $100; and I get $50 too). I give this card to my partner (he has a joint card) and he uses it constantly.
  • I used to have the MBNA World Elite Mastercard but they increased the annual fee. That was disappointing, they used to give 2% back on everything.

 

I spent a serious amount this month.


Honestly, there is not much I can do about it except for the Wardrobe stuff.

Household Equipment

I can be mad at this but really, we needed those items. I don’t do dishes every day or night, and the cutlery started piling up and we ran out of spoons and forks. We needed at least 4 more sets, and that’s what we bought.

We also bought the fancy stuff, so each box was like $70. That was almost half the bill that month.

Then, he needed a huge pot because it was getting frustrating for him to boil two pots of water and wait, when he just needed one big one for pastas and soups, as he cooks for the entire week at once.

Again, fancy pot, $400.

Things we buy, are of very good quality and will last a VERY long time if not forever, but I’ll be damned if they’re pricey.

The cheap stuff doesn’t cook as well, last as long, but still, the bill is $$$$$ when I see the totals for the month.

Then I stupidly use that to justify spending on myself…

Part of it too, is that now I feel a bit justified in spending on myself style-wise when I see my Household Equipment category in the almost thousand range, you know?

I feel like — hey it’s almost $1000, I can spend another $1000 on myself style-wise and it won’t look so bad, right?

My stupid hamster brain justifies spending based on any little whim.

Style Spending and Wardrobe talk

The good news (aside from the stupid justification I do when I see I am spending high in other areas), is that I am definitely conscious of it more so this year than other years because I am about to throw in the towel on this contract, which gives me motivation to not be so spend-y.

That said, I have been replacing items in my wardrobe that have seen better days (white shirts, pants), and then from there, the spending gates opened a little for me, and I picked up stuff I did NOT need like jewellery, a cute red skirt I have been stalking on sale for a long time, a shirt that fits the bill of what I have been looking for, new over the knee boots that are not discoloured….

Honestly, I am not mad at this number. Last month I was in the -$500. This month I am in the $700-ish range. I feel like that evens out to $350 a month and that’s about $4200 to $5000 a year which is better than what I was spending before.

I am making slow but hard changes like denying myself things I just WANT but don’t really fit a need or a spot in my wardrobe, like this stunning tan coat that looked so much like the other coat I own in navy (and love), or these boots because I saw them on Megan Markle initially and loved them, and now I love them on me too!

I am telling myself: WAIT. Think about it.

And I have been!

I have been waiting days, even weeks, and then ultimately deciding: No, $260 for a pair of 4″ hoots that are not going to get much wear in terms of daily use, is not worth it. If it gets discounted down to below $200, ideally around $150, then I’ll bite. Or USED! For MUCH cheaper! 

(Although black suede used, is not a pretty sight)

I am making big strides considering how spendy I am, and I don’t even need to, but I am conscious of how my spending can get away from me because of my huge income.

So, I’ve reached a balance. A spending balance and working on trying to make myself more and more uncomfortable with spending on amounts that are relatively small to me and trying to make it be something out of the ordinary rather than “oh yeah, $40 why not?

Anything, any amount, should be considered expensive for me now, and I am trying to wean myself back to this kind of mindset.

The way I was when I was heavily in debt.

Work in progress.

I am working on it and my tendency to want to buy buy buy…

I am never going to be someone who can quit cold turkey, nor do I have to be.

I try my best to guilt and shame myself into NOT spending because it is the only way I know how, but instead of doing that, I am going to try and intellectually reason it out and trick myself in other ways that are more effective and less shameful.

Spending is not wrong or bad, but I think having grown up with not much, and always wanting stuff but not having had the money for it as a kid, it creates this kind of bottomless void you know?

The more I had as a kid, the happier I was. I used to hoard candy bars and feel so RICH that I had so much, because I knew I could if I wanted, go berserk and eat them all and no one could say a thing that I didn’t work for those candy bars.

Yeah, I’d have to start from scratch, save, and buy those bars to build my stash up again, but just the feeling of: I COULD gorge on all of this if I wanted to, is something that gave me comfort when I was younger.

I guess I brought that into my adult life too. I COULD buy ANYTHING I want (within reason), so I can and I WILL!!!!!!

It is this big black pit of wanting to fill that hole inside yourself with stuff.

And it did not help that my mother spent and bought things for us to show her love.

I associate spending and things, and gifts, with love now, and I am trying not to fall into that trap.

It is almost like I am trying to love myself more, and to treat myself to make up for all the times I have ever wanted for the RIGHT pair of jeans to wear to school, for the EXACT pair of sneakers Suzy wore so that I won’t feel like I am wanting or lacking in any way.

Plus, I just really like clothes and style, but I think deep down inside, there is something else I need to work out.

Even if I know all of this mentally, it doesn’t mean I can fix it overnight. Took me 30+ years to reach this point, it could take just as long to unravel these deep-seated feelings of shame and in some ways, a poor mindset that I was taught.

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Sherry of Save. Spend. Splurge.

Am my own Sugar Daddy. Am a millionaire at 36 after getting out of $60K of student debt in 18 months, a little over a decade earlier, using TheBudgetingTool.com. I have worked 50% of my career (taking 1-2 year breaks), and quadrupled my income within 2 years of graduating, going from $65K to $260K with an average lifetime savings rate of 50%. I have 11 side incomes that are on track in 2020 to make me $50K - $75K. I could retire today if I wanted, but love my work-life balance as a freelancing consultant in STEM (Science, Technology, Engineering, Math). I am all about balance - between time and money, and also enjoying my money. I also post daily on Instagram @saverspender.

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In a nutshell…

Save. Spend. Splurge.
[ wealth. style. minimalism. ]

——

MOST DEBT: cleared $60K in 18 months

MONEY: Hit $1M personal net worth At 36

NEW GOAL: $1M in invested assets

FAVOURITE DAY: payday

HATES: being late & lazy people

SOCIAL: Instagram @saverspender

DRINKS: homemade matcha lattes

SLEEPS: on a 100% cotton U.S.-made futon

WRITES: Books (also available on Amazon).

BEAUTY: swears by Paula’s Choice

——

…but you can read more about me , browse my index of posts, or get in touch with me, talk to me directly on Instagram, and of course, ask me anything here.

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