Monthly Money Check-Up: May 2011

Clothing Budget: $100
Actually Spent: $236

Breakdown:

Verdict: BAD GIRL!
Although I love everything I bought and see them fitting into my wardrobe well, I did go a little overboard. I blame the sudden change to warm weather and the fact that nothing from last summer fits anymore. Also, that trench was a crazy deal marked down from $150. I would have been crazy to pass that up, it's a classic!

Other Frivolous Spending of Note:

Art & Shelving for the house: $97
Spoiling the Animals: $72
Savings Contributions: $250

Future Goals to Save for:

Jersey Shore August 8th: $0/$800

Building a Budget

If you know me in real life, it will come as no surprise that I LOVE Canadian financial guru Gail Vaz Oxlade. She's one of my career idols. This lady just makes SENSE!

The secret to my financial "success"? Her simple rules.
Don't spend more than you make.
Credit cards are the devil.
ALWAYS have savings.

Sounds simple enough, right? But you'd be surprised how many people just don't.
Sure, I'm human and I slip up, spend a little more than I've allocated to category, bring out the credit card for an impulsive buy, but because I have a plan (of sorts) I can always figure it out.

If you have a few minutes, you should check out the resources section on her website. It definitely helped me get my finances in check and plan for the future, something that as a young adult I never thought mattered.

My favorite is her "build a budget" tool. Download the excel version and it does all the calculations for you!

Monthly Money Check-Up: February

Hmmmm, so I may or may not have gone a little overboard with my February spending. Budget, what budget?
It was a very emotional month however, and I can't help but shop to make myself feel better. I know, I know, another addiction I need to get over... but there's just something about finding the perfect pair of shoes or bag that makes you gray skies seem blue again...

Purchases:


Maxi Dress - Dominican Republic Vendor ($50)


Floral Dress - Dominican Republic Vendor ($20)


Jean Shirt - Walmart ($12)


Big Floppy Hat - Walmart ($7)


Bag - Via Pom Pom ($35)


Tights - Hue via Pom Pom ($12.50)

Tall Boots - Spring ($25)

Ankle Boots - Spring ($28)

Grand Total = $189.50
Ashamed? Yes. In love with every single purchase? Hells Yes.

March Goals:

1. Restrict clothes budget to $50. I'd get rid of it completely... but a girl's gotta shop!
2. Contribute another $1000 to savings.
3. Find a washer/dryer set for under $900 for my new place.
   

January Money Check-Up

This month is the first that I've decided to do a Monthly Money Check Up as opposed to a Weekly.
So far, so good. I set myself a $100 clothing budget, and my spending was as follows:

Tristan thrifted blouse - $4

Ricki's polka dot blouse $16

Dynamite pencil skirt $5

Dynamite zip front skirt $5

Dynamite floral tunic $30

Etsy wool skirt $23

Dynamite trousers $25 (exchange from December purchase)

Total January Clothing Spending: $108

Total Additions to Savings/Mutual Funds: $985
Other Big Purchases: Ikea set of drawers ($150), Clinique skin care regimen ($100), Make-up ($35), Books ($25).

All in all, there was some frivolous spending, but when I move into my new place in March, that will clearly have to stop.

February Goals:

1. Stay within my clothing budget, and spend under $92 to make up for this month's excess of $8.
2. Add at least $1000 to savings.
3. Savings Goal: I would like to purchase a new car in the next year, and would like at least $8000 for a down payment.