Last month, I spent $900 on food and alcohol.
Yes, that’s insane.
I realized it when I finally took a look at “Budgets” in my Mint.com account. Mint automatically sorts your purchases for you by category (you can tweak the categories; sometimes it makes mistakes). After realizing that my plan of saving more wasn’t going too well, I figured it was time to face the music.
I spent: $162 on Alcohol & Bars, $48 at Coffee Shops, $23 on Fast Food, $255 on Groceries, and $431 at Restaurants. Yikes.
There is some explanation for this high number (I “only” spent $600 the month before). My boyfriend and I turned a wedding a few weeks ago into a mini-vacation, and we indulged in some nights out. But we also go out for food multiple times in a given weekend anyway, and I go out to dinner at least once during the week with friends.
BYO restaurants are also big where I live, so a large chunk of the $162 spent on Alcohol & Bars was stocking up on bottles of wine that will last me for two months or so.
But it’s obvious some changes need to be made. I always thought that I would save a lot while I was young for a larger pay-off later, and that’s not happening.
[read on]
filed under >> budgeting, money
Angeline of The New Professional
Angeline, blogging at The New Professional, this past year went on the Great American Apparel Diet. The “diet” was to abstain from purchasing new clothes for one year. Angeline’s tally? 362 days purchase-free. That’s pretty darn good.
She posted some great advice for those who want to start their own shopping diet:
Set parameters. Are you abstaining from clothes, shoes, accessories, or all of the above?
Set a timeline. That way you’ll know when you’ve succeeded. Start small if you have to. My first shopping diet was for a quarter in college (10 weeks), and then I did 6 months in 2009. Baby steps.
Unsubscribe to retailer and sale emails or delete them immediately. DO. NOT. OPEN.
Ask for help and support from your friends and shopping buddies. It helps.
Swap and accept. Whether it’s permanently (through a swap event), borrowing clothes from a friend, or scouring your mom’s closet for hand-me-downs, there are several ways to work new pieces into your outfit without spending a dime. Even if they’re not your style at first glance, try it out. You can always give it back or pass it on.
Check out Angeline’s blog for more on the challenge.
filed under >> budgeting, money, shopping
Designer Luc Latulippe tapes this simple spreadsheet (that he designed) to his fridge, and he and his partner jot in their expenses as they arise throughout the month. For example, after coming home from dinner, they can write in the bill in the “Restaurants” category. It’s a low tech, but effective, way to stay on track.
He’s sharing his budget chart eye-candy with the rest of us. You can head over to his blog, and download the chart in PDF or Excel spreadsheet.
Thanks for sharing, Luc. It’s really quite genius!
filed under >> budgeting, money
I’m taking a new job in a new city in September. With that, comes a new paycheck. In a week I’ll go check out housing options and hopefully sign a lease on an apartment, but in the meantime I need to figure out my budget.
So I’ve been researching how much I should spend on housing, and here’s what I’ve found.
Find out the conventional wisdom →
filed under >> budgeting, money
