Stephany Writes

Categories: Personal Finance

Monthly Budget Update | April 2020

I wasn’t sure how my April budget was going to shake out. Sure, I was spending less money in some respects—no visits to the salon, no traveling, no random stops at TJ Maxx. But I was also pretty sure I was spending quite a bit of money on food (both groceries and UberEats) and online shopping. And sure enough, some of my categories are the highest they’ve been this year (while many others are the lowest!). Let’s review:

Housing (28.7% – $1,065 compared to $1,055 in March) – This comprises rent, water, electric, Netflix, and Internet. A little higher this month, but nothing crazy!

Debts (28.7% – $1,065 compared to $838 in March) – Student loans and a credit card payment. And with that payment, my credit card is all paid off. Woohoo!

Groceries (10.3% – $384 compared to $276 in March) – Whew, I knew my grocery budget was going to be much higher than usual because I’m buying more snacks, convenience foods, etc. That’s quarantine life for ya!

Eating Out (7.8% – $288 compared to $182 in March) – I ordered UberEats 12 times in March, ooooops. This number is slightly skewed, however, because it includes the tip paid to the driver and, when possible, I added a $5 donation to the restaurant I was ordering from. So this might be closer to $200.

Savings (5.8% – $215 compared to $185 in March) – I’m hoping this category gets a huge boost now that I’m not putting oodles of money toward my credit card. Time to start saving for a house!

Phone (3.8% – $142 compared to $142 in March) – Fixed expense, nothing to see here. 🙂

Shopping (3.3% – $122 compared to $88 in March) – Did a little more shopping this month than I expected! A new pair of flip-flops (Chip destroyed my only pair), a few e-books, a new Bluetooth shower speaker after my old one kicked the bucket, a cloth face mask from Etsy, and a new case for my phone since I upgraded to the iPhone 11.

Home (3% – $112 compared to $48 in March) – I bought a new desk and office chair! Much, much needed purchases.

Subscriptions (1.5% – $55 compared to $55 in March) – This includes Patreon, my Sephora PLAY! box, Spotify, and PicMonkey. It also includes my bimonthly subscription to Second Nature, which sends me an air filter every other month.

Spa (1.3% – $50 compared to $122 in March) – The only charge this month was my monthly massage membership. I probably should have put my membership on pause (which I still might do), but at least I’ll have a ton of massage credits to use when this is all over.

Gifts (1.3% – $47 compared to $20 in March) – A little something special for a friend!

Household supplies (.8% – $31 compared to $41 in March) – This includes toilet cleaner, light bulbs, all-purpose cleaner, and two bottles of dish soap.

Toiletries (.8% – $30 compared to $28 in March) – A new can of hair spray, three bottles of body wash, deodorant, toothpaste, and a new toothbrush.

Donations (.8% – $28 compared to $38 in March) – I sent some supplies to a local animal shelter (the same one I adopted Lila from!) when they sent out an Amazon wish list. (They anticipate getting a lot of kitties that will need to be fostered during the summer, especially since non-life-threatening spays/neuters have been halted due to COVID-19, so they asked for some much-needed supplies.)

Health (.8% – $28 compared to $22 in March) – I bought a new bottle of melatonin pills and didn’t realize until I was at the counter to pick up my three-month prescription of Lexapro that I didn’t have my FSA card with me, so I paid out-of-pocket, whoops. (Thankfully, it was only $20! Praise hands for generic drugs, man.)

Pets (.4% – $16 compared to $75 in March) – The girls were cheap this month. All they needed were treats. 🙂

Auto (.4% – $16 compared to $44 in March) – I filled up my gas tank for $16 (!!!!!!!!).

Entertainment (.4% – $14 compared to $0 in March) – This is embarrassing, but I need to admit it. I spent $14 this month on Candy Crush tokens. I CAN’T HELP MYSELF. (Okay, I can, but I choose not to.)

Beauty (.2% – $8 compared to $17 in March) – I bought a face mask (the skincare kind) and a small bottle of hand lotion.

Categories: Personal Finance

Monthly Budget Update | March 2020

I wasn’t sure if I should put together my regular end-of-month posts—is it really necessary right now? But I decided to do so because I need a little bit of normalcy in this very abnormal time. I’m craving it. I need a semblance of a routine again. So I will be setting goals for April and recapping March and, of course, reviewing my March budget, as today’s blog post is about.

March’s budget started off pretty normal, but things quickly shifted once stores and restaurants shut down and we all started hoarding toilet paper. One important thing to note in this recap is that I’ve decided to start sharing raw numbers because I feel like it allows me to see the bigger picture of my money. Percentages would be fine if I was doing this quarterly or yearly, but on a month-to-month basis, sharing the actual money spent is more impactful. (It’s also much easier for me to do this since I’m not sharing finances with anyone!) So, anyway, let’s review my March budget:

Housing (26.2% – $1,055 compared to $980 in February) – Housing costs were slightly more this month since February’s final budget didn’t include my Internet bill as I overpaid in January (oops). This includes rent, utilities, Internet, and Netflix. Happy that my housing is less than 30% of my overall budget!

Debts (20.8% – $838 compared to $1,688 in February) – This includes school loan payments and the $650 I put toward my credit card. My credit card should be paid off in April, so that’s good news!

Travel (18.8% – $757 compared to $0 in February) – A new category! I didn’t spend any money on travel in January or February. This includes a flight to New Orleans, half of the hotel reservation, my portion for the Airbnb we stayed at last weekend, and groceries for the weekend. Of course, the New Orleans trip is no longer happening but we got a credit for the flights/hotel so we’re holding out hope we can plan for a late summer/early fall trip.

Groceries (6.8% – $276 compared to $219 in February) – Spent more on groceries because I was trying to stock up more this month, especially near the end.

Savings (4.6% – $185 compared to $200 in February) – I put a little less into savings this month, mostly because I haven’t paid attention to putting money into my “no spend” fund. I want to get back to tracking my no-spend days in April! This includes putting $100 into my apartment fund, $50 into my car fund, and $35 into my “no-spend” fund.

Eating Out (4.5% – $182 compared to $219 in February) – Less eating out, obviously, in March with restaurants closed and safe-at-home orders in effect. And I’m not eating fast food—a goal I set for myself in March and didn’t deviate from even with the pandemic! I had a few meals out with friends in early March and then quite a few UberEats orders.

Phone (3.5% – $142 compared to $142 in February) – Nothing to report here! My phone bill is higher than most because I’m leasing a phone. Ugh.

Spa (3% – $122 compared to $343 in February) – This includes a blowout, my Hand & Stone massage membership, a tip after a massage, and a pedicure. Will probably be a nonexistent category in April!

Shopping (2.2% – $88 compared to $288 in February) – Not much shopping this month! I bought a new wallet, a cardigan, an extra book to put in my Book of the Month box, a wireless charger for home, a Yeti Rambler cup for home, and an e-book.

Pets (1.9% – $75 compared to $283 in February) – I bought two containers of treats, food, and a new scratching pad.

Subscriptions (1.4% – $55 compared to $39 in February) – This includes my PicMonkey subscription, Spotify, the podcasts I support on Patreon, my Sephora PLAY! box, and my Book of the Month subscription.

Auto (1.1% – $44 compared to $604 in February) – Only needed to fill up my gas tank twice in March!

Home (1.2% – $48 compared to $141 in February) – I bought three photos on Mixtiles, a wall holder for my Google Home mini, and an extension cord.

Household supplies (1% – $41 compared to $20 in February) – I picked up toilet paper and a two-pack of Lysol wipes, right before things got really apocalyptic. This category also includes laundry detergent and a few extra bottles of hand soap.

Donations (.9% – $38 compared to $20 in February) – I donated to my nephew’s school as he participated in a jog-a-thon. I donated $1 per lap and homeboy did 38 laps!

Toiletries (.7% – $28 compared to $41 in February) – I stocked up on body wash so I can continue my nightly bubble baths, even more necessary for my well-being now. This category also includes mouthwash and micellar water.

Health (.5% – $22 compared to $48 in February) – This only includes my gym bill.

Gifts (.5% – $20 compared to $66 in February) – I bought my fur-brother a new toy and his favorite bully sticks for his birthday!

Beauty (.4% – $17 compared to $46 in February) – Woooooo… this category has never been this low! I picked up foundation, setting powder, and a new brow pencil. I haven’t worn makeup in weeks so who knows if this category will even show up on my April budget!

Categories: Personal Finance

Monthly Budget Update | January 2020

Hi, friends! Happy Friday! I disappeared from the blog this week—just couldn’t get my life together to put up a post on Wednesday. Ah, it happens.

Today, I wanted to start a new monthly series, detailing my monthly spending habits. I am trying to be a better manager of my money than I have ever been, which means learning to break bad habits (like eating out when I have perfectly good meals at home, or not checking my bank account for over a week) and reframing the way I view money and spending. Stuff to talk about in therapy, ya know.

This post will serve as a baseline for where I’m at today. Going forward, I’ll be able to compare numbers month to month, which will help me figure out what areas I need to cut back in. I use an old-school spreadsheet to keep track of my money because that system works better for me than any sort of online tool. (Believe me, I’ve tried ’em and there’s just something about creating my own system that makes it feel more meaningful.)

Debts (33.7%) – This number is comprised of credit card payments and student loan payments. It’s the biggest part of my budget because I put $950 toward my credit card in January (praise hands for three paycheck months!). I still have a ways to go but I’m crossing my fingers that I can get it done in February, depending on the amount of my tax refund.

Housing (31.1%) – Rent, electric, water, and Internet. My housing expenses are going to go wayyyy up starting in September so I’m enjoying the low rent while it lasts, haha.

Groceries (5.9%) – My grocery expenses were fairly low this month, which is unexpected but quite nice! I’m interested to see how this fluctuates from month to month.

Savings (5.6%) – I’m saving $100 a month for apartment expenses, $50 a month toward a down payment on a new car, and throwing $5 into a “rainy day” account every time I have a no-spend day. Currently, I have $40 in that account!

Phone (4.4%) – Fixed expense. My phone bill is high because I’m paying off my iPhone, blah.

Eating Out (3.6%) – This includes fast food, those trips to Publix for a sub, and only one or two times I went out with friends.

Pet care (3.1%) – This includes food, litter, toys, and treats. I buy food and litter every other month, but February will be much more expensive as the girls are due for checkups at the vet.

Subscriptions (2.8%) – Netflix, Spotify, my Sephora PLAY! box, my massage membership, and PicMonkey.

Health (2.2.%) – Gym membership and a $50 copay for my orthopedic. Typically, I won’t have medical charges to worry about since I have an FSA but this appointment was in early January and I hadn’t yet replaced my old FSA card with the new one, oops!

Toiletries (1.5%) – This includes body wash, shampoo, conditioner, deodorant, a new toothbrush, and toothpaste. And maybe some other things that are slipping my mind!

Beauty (1.3%) – Foundation, setting powder, moisturizer, and maybe a few other items.

Car (1.2%) – Only had to fill up my tank twice this month. Does cold weather help a car use less gas? Because yo… I usually have to fill up weekly.

Spa (1.1%) – A pedicure! This category will be much bigger in February as I have a hair appointment that will include highlights, a cut, and a blowout.

Shopping (.9%) – I didn’t do a lot of shopping in January, coming off Christmas and all that. A new t-shirt, an e-book, a new lunch box, etc.

Donations (.6%) – I’d like to devote at least $20 a month to charity/donations, something I’ve really never done, and this month I donated to Elizabeth Warren’s campaign. 🙂

Categories: Personal Finance

What I Spent in Q2 of 2018

Happy Friday! Typically, I save Fridays for writing fun and light-hearted posts, but this time around, you’re getting a lengthy discussion about my spending summary for Q2. I did this in Q1 and it was interesting to look back at that post, and see what areas I’ve improved and what areas I haven’t.

I’ve broken these down by categories, from where I spent the most money to where I spent the least, and it comprises April, May, and June during which I took a seven-day cruise and had a bunch of stupid car repair stuff. I’m sharing real numbers here, which is something I can do because my budget only concerns me and me alone. As a note, I don’t use any sort of budgeting software. I use a spreadsheet I created on Google Docs because I like doing it old school. 🙂

Okay! Let’s get down to business:

Entertainment – $757

I spent way more money this quarter with my entertainment budget – $172 more to be exact. It amounts to spending about $63 a week on entertainment, which can range from pizza delivery to movie tickets to dinners with friends. Ideally, I’d love to bring this area of my budget under $450 per quarter and that’s going to take a lot of work to make happen. We’ll see if I can accomplish it in Q3!

Beauty – $546

This category comprises hair appointments, waxes, pedicures, and massages. It was a pretty pricey quarter for beauty, as I spent $200 more than I did in Q1. I had two hair appointments, a handful of pedicures, two eyebrow waxes, and one underarm wax. No massages this quarter, and I’m hoping to rectify that in Q3 because my muscles are definitely craving a massage. I really take this area of my budget seriously – I go to a pricier salon for my hair appointments and waxes, but it’s worth it for me. I also probably don’t need a monthly pedicure, but it’s less than $30, and makes me feel good to have pretty toes!

However, I would like to slash this area of my budget if I can and one way I’m going to do that is by coloring my hair at home. Typically, I get my hair colored every eight weeks and every other time I get my hair colored, I get it cut. I’d like to cut out that appointment where I’m only getting it colored, which would mean I’m only at the salon three times a year, instead of six. It would save me a lot of money!

Travel – $437

Even though Q2 is when I took my cruise, I spent a lot less this month because everything was already paid for! But I did end up spending quite a lot on the cruise, between drinks, souvenirs, bingo games, and parking fees at the port. It was all worth it, though!

Health – $219

This category comprises my gym membership, Weight Watchers membership, and all of the medicine I purchased during Q2 due to all of the sickness I dealt with. And yeah, you read that right: Weight Watchers membership. I joined back in late March when they had a great deal on a six-month membership. It’s around $38 a month and I can’t say I’m using my membership to its fullest extent – eeks. I’d like to write a post about my complicated feelings about being a Weight Watchers member because I have a lot of weird feelings about it.

But anyway, I’m hoping this category will reduce a lot in Q3 because I’m about 95% sure I’m going to cancel my gym membership soon. It’ll save me $35 a month!

Toiletries – $174

Toiletries include personal care products like shampoo, conditioner, mouthwash, body wash, etc., as well as household items, such as dish soap, garbage bags, paper towels, etc. I stop by Target twice a month for toiletries and would like to keep my spending under $50 a month, and I’m really close to doing so! I’ll always spend a little more on toiletries than some people because I buy a lot of body wash every month (I use them for my bubble baths at night and buy 4-5 bottles a month), and buy the pricier shampoo and conditioner.

The last time I did this spending summary, I included makeup with my toiletries total and this time I separated them out. I’m interested to see if I spend less in Q3 on toiletries now that I have a starting point.

Starbucks – $150

This is a pretty normal total for me, as I add $25 to my Starbucks card every two weeks (when I get paid). I go to Starbucks once a week to work on my novel and typically get a pricey coffee and breakfast sandwich when I do. I’m okay with this number!

Gifts – $122

This is double what I spent in Q1, but what can you do? Gift-giving is a priority for me. I bought birthday gifts for a couple of friends and a housewarming gift. Always happy to shower my friends with a little something for their birthdays and special events!

Clothing – $109

I covered some of this in my yearly goals post on Wednesday, but Q2 was a bit spendier than I wanted it to be in terms of clothing. I bought a polo shirt, two pairs of sandals. I also had to buy a “costume” for a friend’s 90s-themed birthday party. I was able to return most of what I bought, but a few of the items were from Amazon and man do they make it inconvenient to return things, ha. I could have gotten $25 back, but I just didn’t feel like wasting the energy to buy an envelope and ship it back. Ah, well.

Books – $65

Woohoo, I slashed this in half from Q1! I have tried to put a bit of a kibosh on my book buying, so most of the money spent on books in Q2 came from my Book of the Month subscription, which is $15 a month. I also added an extra book for $10 one month and couldn’t help myself to a new Christina Lauren book when I was at Target last month. Oops.

Makeup – $65

It’s really interesting to see how much I spend on makeup over a quarter! And, honestly, I can’t remember if this includes my $10 a month Sephora PLAY! box. (I recently added a “subscriptions” tab to my spending spreadsheet, but I think I included the beauty box in my makeup category.) If it does, then that’s not too shabby – $35 for makeup over three months. I don’t buy a ton of makeup, though. I have to replace my foundation and powder every other month, and my mascara and eyebrow pencil once a quarter. Thanks to my beauty box, I have tons of lipstick samples and eye shadow samples so I never have to buy those now.

Okay! So there we go. That’s my spending summary for Q2. Some wins, some losses. And I was able to kick the Amazon category off this list because I deleted my Prime membership finally. Woo! I’d really like to focus on that entertainment budget in Q3, and somehow keep it under $500. I feel like it’s just something I have to be super conscious about, and knowing that I don’t have to say “yes” to every social outing my friends invite me to. It’s okay to experience a little bit of FOMO if it means I’m aligned with my goals.

I didn’t include my debts in my previous spending summary, but it’s going to have a place going forward. I’m nervous to talk about it, but deep breaths!

Debts

  • Student loans: $13,039
  • Credit card: $1,615

Okay, I’m writing these numbers here for accountability and I know it means I’m opening myself to receiving messages about my irresponsibility with my money. Please don’t do that. Be a kind person, okay, and realize that we’re all just trying our best and sometimes, it means we incur credit card debt. I don’t like that I have credit card debt and I beat myself up enough about it. No need to tell me that it’s irresponsible!

With that said, Q2 was not a good quarter for my debts. It was especially not a good quarter for my credit card because I had it nearly paid off. And then the cruise happened. And then a bunch of car troubles happened. Things just happened.

I know I need to get out of the cycle of using my credit card whenever something happens, and I know I can quickly pay off this debt during Q3, as I won’t have a car payment anymore and can funnel an extra $230 to my credit card. (And, you know, stop using the card!)

I’m paying the minimum balance on my student loans right now, but once I have my credit card paid off and then an emergency fund set up, I’m going to start funneling an extra payment to those loans. Maybe I’ll have them paid off by the time I’m 40? 🙂 Hopefully sooner, but I’m also not super stressed about those loans. They are “good” debt as far as I’m concerned.

Categories: Personal Finance

My Junk Financial Beliefs

A few months ago, The Financial Diet published a post titled, Why You Need to Clean Out Your Junk Financial Beliefs (& How to Start), which really got the wheels churning in my head. TFD is a hit-or-miss publication for me because I find that a lot of the writers are immensely privileged and it’s hard to relate to a lot of their articles. But this one… this one really hit home for me and had me combing through my own belief systems, the way I was raised, and how it all affects the way I view my finances today.

As many of you know, I grew up poor and this was mostly due to the fact that my dad had a rather significant gambling problem. Without it, we could have lived a fairly comfortable middle-class existence, but as it was, we struggled to make ends meet on my mom’s preschool teacher salary. My dad’s paycheck (and sometimes, some of my mom’s…) was used to fund his gambling addiction. So, I grew up on free school lunches, eviction notices, and that survivor mindset. In my family, wealth was not something to strive for. Making it to the next paycheck without the lights getting turned off was. Things like 401ks, savings, and investments were not in the conversation. The biggest vacation we took as a family was when we went to Ohio. My dad drove the 1,200 miles from Clearwater to Toledo, and we stayed with relatives.

So all this to say… I have a lot of junk financial beliefs. I have had to work through a lot of shit, and I’m still working through it because it’s only been in recent years that I’ve been able to feel like I’m finally getting a good handle on my money. But I still fall prey to my junk financial beliefs, so let’s talk about them, shall we?

Deep breaths. I’m about to get real personal about these.

Junk Financial Belief #1: Working a second job is beneath me.

I’m not talking about having a side hustle, like freelance writing. I’m talking about getting a second job, usually in the retail space. Whether that’s working at the local Starbucks or the mall, I cannot bring myself to “lower myself” to get a second job, even though I know I could pay down my student loans so much faster if I did that, not to mention I could have a bit of breathing room in my budget. But there’s something about doing that that feels like defeat. I’m a college graduate! I have a full-time job! I shouldn’t have to also work a second job. (Yeah, I have a bit of that millennial entitlement going for me, I guess.)

If I did get a second job, it would solely be to pay off my student loans faster and build up my savings. Which means I would only have to work said job for a handful of years. It wouldn’t be forever, but I just can’t bring myself to do it. It would significantly eliminate my free time, and I’m not willing to give that up. I also think it would affect my mental health because part of my self-care routine involves lots of sleep and alone time. That’s partially why I haven’t tried harder to find more freelancing opportunities; it takes a lot of my mental energy – mental energy that’s already at a more limited capacity than most people.

Junk Financial Belief #2: I will always struggle with money.

I have a scarcity mindset when it comes to my finances. I never feel like I’ll ever have enough money, even though I actually do. I’m able to pay my bills, put food on the table, go on vacation. But I don’t save as much as I would like, I have credit card debt, and I always feel as if I’m working at a deficit when it comes to my budget. And it all feels very natural to me to have this unhealthy relationship with my finances. That’s the way I was raised, always fearing that one bill that could turn our world upside down, and that’s the way I live today, even though I don’t need to.

This belief about struggling with money has deep roots in my past, but also my present because most of my family also struggles with money to this day. And there’s this part of me that feels selfish when I think about not struggling – do I really deserve that feeling of peace and fulfillment when it comes to money? Have I earned it?

It’s a lot to think about. I know I deserve that peace. I know my family members also deserve that peace. And I know it ultimately comes down to getting honest about my budget, eliminating the things that are holding me back from ultimate financial freedom, and allowing myself to claim a sense of ownership over my own money situation.

Junk Financial Belief #3: Extra money is supposed to be spent, not saved.

Growing up, having extra money was like finding a unicorn on the side of the road. As in, we almost never had it. I still don’t know how my parents afforded Christmas gifts, but I suspect it was a very stressful time for my mom. Savings wasn’t part of my lexicon growing up, and it’s only been in recent years that I’ve realized that having a well-funded savings account is something I need. It’s not something that would be nice-to-have, but it’s something that would allow me to stop depending on my credit card when emergencies arise (like, say, if my tire blows out one morning on the highway).

I’m getting better at this, but I can’t lie. Sometimes when I log on to my banking account and see that I have more money sitting in my checking account than I thought… it’s hard not to immediately place an order on Thriftbooks or start perusing the Old Navy website. It’s a mindset shift, but I know that the pleasure of seeing four figures in my savings account will far outweigh the pleasure of getting that shipment notification in my email inbox.

Junk Financial Belief #4: It’s normal to use credit cards to buy the things you want.

Oy vey. This has been a belief that I’ve been working on dismantling for years now. It’s the whole “buy now, pay later” mindset, and it’s a very popular one. I know I’m not the only one who has fallen into this trap. It started when I was given my first credit card at the tender age of 18. It had a $500 limit and I used it responsibly. I paid it off every month, using it to buy new items for my dorm room. Then, during my sophomore year of college, I stood in front of an Old Navy store, thinking about how I just really wanted some new clothes for summer, but I didn’t have the money to do so. I was talked into applying for an Old Navy credit card, and my jaw about hit the floor when I was approved and told my limit was $2,500. Within a year, that card was maxed out and I had no way to pay even the minimum payment. Eventually, I worked out a payment plan and paid off that card. But I never lost the shame attached to maxing out a credit card during the first year of my twenties, effectively ruining my credit. I had always told myself I was going to be better about my finances than my parents were, and here I was, my first time out as an adult, and I fucked it up royally.

That card is when I got into this mindset of buying now, paying later. And while I have worked hard to dispel myself of this… I have to constantly fight against myself. For example, just a few weeks ago, I spent an entire evening on ThredUp, throwing shirt after shirt into my cart and telling myself I “needed” these shirts because the dress code at work had recently changed. I didn’t have the money in my checking account, so I told myself I would put it on my credit card and “next paycheck, I’ll really get serious about my budget.” (<— anyone else do this? Sigh.) Thankfully, I came to my senses before I spent any money. I had to remind myself that if I don’t have money in my checking out, I don’t have money. It’s a mantra I have to constantly repeat to myself because it’s so easy to get caught up in buying things and putting it on credit. Part of it has to do with growing up poor and spending the first half of my twenties poor. I couldn’t buy things, ever, so now that I have the ability to, it’s so much harder to resist my impulses. But I’m trying and it starts by dispelling this financial belief that I can buy whatever I want using my credit card.

Honestly, I could probably write another 1,500 words on other junk financial beliefs I have, but I think this post has gotten too long already (maybe I’ll write a Part II in the future). These are some of my bigger ones, and it’s not easy to come clean about all of this. But it’s important. It’s important to talk about money and open up about the way our past has defined our present. It doesn’t mean I still abide by these beliefs or that I’ve thrown in the towel. No – I am actively working on dismantling them so that I can have that elusive financial freedom sometime in the future. That’s all I can ask of myself.

Your turn! Tell me one junk financial belief of your own.