Stephany Writes

Categories: Personal Finance

Budget Update | Q1 of 2021

Hi, friends! I’m here with my first budget update of 2021. I knew I wanted to continue these budget updates (you guys seem to really enjoy them!) but wasn’t sure in what capacity. I *think* this is how I’ll be doing them going forward (quarterly updates), although I’m contemplating a monthly budget update that dives a little deeper into my budget as a whole rather than my overall spending. Let me know if that sounds interesting at all! (I do plan on writing a post soon that gives the nitty-gritty about my budget this year, but the monthly post would be something different.)

Anyway, Q1 was a good one. I received six paychecks, my tax refund, and my stimulus check. Woop, woop! I was able to buy some big-ticket items, like my sectional and spin bike. In Q2, I’m hoping to buy a new TV, desk chair, and area rug, but we’ll see how everything pans out. Here’s the breakdown:

Overall bills (33.3%) – This year, I’m lumping all of my necessary bills into one category. This category includes:

  • Rent ($1,045 per month)
  • Electric (budgeted $100 per month; averaging $86 per month)
  • Water (budgeted $50 per month; averaging $51 per month)
  • Internet ($80 per month)
  • Phone ($109 per month)
  • Student loan ($105 per month)

Food (12.6%) – My monthly budget for food is $600, which may feel insurmountably high to some (especially for just one person), but it’s what works for me. In January and February, I came under budget easily but went over by $74 in March, oops.

Savings (12.2%) – My goal is to save $575 per month ($200 into emergency savings, $200 into a car down payment fund, $50 into a Christmas fund, $50 into a pet fund, and $75 into a car insurance fund) as well as put $5 into my no-spend fund every time I have a no-spend day. Currently, I have $2,200 in my emergency fund and $1,500 in my car fund, which feels amazing!

Auto (12%) – I spent $71 on gas this quarter, $10 on a car wash, and $526 on my biyearly car insurance. This category should be a lot lower in Q2. I don’t really have a budget for auto anymore. My emergency/car savings are used for repairs and I’m still driving so little that I only need to fill up my tank once a month. It’s great!

Home (10.1%) – I made a big purchase in Q1: a new sectional! That’s what makes up the bulk of this category (which approximates $1,353). I also bought some decorations, prints for my office nook, and other home goods.

Spa (4.9%) – This quarter, I spent $238 on my hair (balayage highlights, professional cut and style, and tip), $150 on pedicures, and $266 on massages/facials. The only area I really budget for are my massages/facials (I budget $80 per month, but usually spend $100 for facials since I upgrade to a more specialized facial). My haircuts and pedicures come out of my “fun money.”

Shopping (3.5%) – The biggest shopping expense in Q1 was my Stitch Fix box. Also, somehow I spent $116 on books this quarter?! What the what?

Health (3.1%) – It was a spendy quarter for health, as I bought a spin bike! I budgeted for this as part of my tax refund. Otherwise, I only spent $30ish for some medical supplies when I fell and tore up my toe and a prescription.

Pets (1.9%) – Lila had a vet appointment in February and had to get two shots, so that was my biggest expense this quarter ($128). I also bought litter ($54), food ($36), treats ($8), and a new pet food container ($20).

Supplies (1.7%) – I combined toiletries and household supplies into one category for budgeting purposes. I budget $100 per month for these supplies and keep a close eye on this category, as I know it can get out of hand easily. In Q1, I stayed well within my budget ($73, $92, and $59) so I feel good about where I’m at with this category.

Entertainment (1.5%) – I budget $14 per month for my Candy Crush habit (no shame!) and also budget for my monthly lady dates with Bri (I budget $50 but I’m usually always underbudget for that).

Subscriptions (1.4%) – I’m still trying to figure out how much I pay on a monthly basis for all of the different subscriptions I have. In Q1, it was all over the place. Not every month is the same—some months, it can be around $94 and other months, it’s $30 less if it’s a month I’m not getting an air filter shipped to me (my Second Nature subscription is set up for every other month) and I have a Book of the Month credit that rolled over. In general, though, I budget for $100 and always came in under that in Q1. My subscriptions include Patreon, Spotify, Netflix, Befunky.com, Ipsy, Second Nature, and Book of the Month.

Beauty (1%) – This category is getting more of a workout than last year since I’m investing a lot of money into a skincare routine. But I enjoy doing my morning and evening routine and trying new products! Right now, I’m trying out Paula’s Choice products, so I bought cleanser, exfoliant, toner, a morning moisturizer (with SPF), an evening moisturizer, and niacinamide serum.

Charity (.5%) – This year, I’m picking one charity per quarter to donate to, and in Q1, it was the Equal Justice Initiative. I believe in their mission so much and it felt good to donate a tiny amount to them. I set aside $25 per month in my budget for charitable giving.

Gifts (.5%) – Chip and my youngest nephew, D., had birthdays in Q1 so nothing too crazy to budget for.

$0 categories of Q1 include travel and Christmas, for obvious reasons. 🙂

Categories: Personal Finance

My Final 2020 Budget

Happy Friday, friends. It’s a long weekend for me because, for the first time ever (well, since I was in school, lol), I get MLK day off! I’m assuming my company decided to offer this as a day off due to the racial reckoning that so many people and companies, in general, went through last year. I’m glad to see it, that’s for sure.

Today, I wanted to share my final 2020 budget. (No December budget this month, sorry guys!) 2020 was the first time I ever tracked my spending in such a detailed way and while it took some getting used to, I’m really glad I did it and built this new habit for myself. It allowed me to see my spending much more clearly than I ever have and build a reasonable budget for myself moving forward. I plan on continuing my monthly budget recap posts, but they’ll be a little different this year. Stay tuned!

For now, let’s take a look at where my money went in 2020:

Housing (41.1%) – It’s no surprise that housing was my largest expense overall. This category comprises rent ($11,137), electric ($1,033), Internet ($902), water ($590), and Netflix ($168).

Food (14.3%) – Food was always one of my biggest expenses throughout the year so it’s no surprise that it was my second-largest category. In the end, I spent $2,987 on restaurants and $3,671 on groceries for an average of $555 per month. (I also spent $224 at Starbucks.)

Debts (7.7%) – I spent the first quarter of the year making large payments to my credit card and I also made regular student loan payments throughout the year.

Savings (6.1%) – While I fell off the savings bandwagon in the second half of 2020, I was pretty great at adding to my savings accounts at the beginning of the year (especially in preparation for my move). I saved $2,936 this year for an average of $245 per month.

Shopping (4%) – I’ve never really kept track of my shopping habits so I’ll be interested to see how this changes year over year. In 2020, the standout shopping categories are tech ($574), clothes ($438), books ($412), Chatbooks ($109), cloth face masks ($78), accessories ($89), hobbies ($86), and shoes ($46).

Home (3.6%) – I bought a lot of new things for my home in 2020, especially once I moved. This total is made up of things I bought for my “home office” ($329), furniture ($1,072), decorations ($165), and a new cordless vacuum ($120), among other items.

Auto (3.4%) – This list comprises gas ($313), car insurance ($1,114), regular maintenance ($106), and a simple car repair ($96).

Moving (3%) – Anything I bought specifically for my new apartment during the move is included in this category, such as home goods ($695) and furniture ($295). I also included moving expenses such as my pet fee and paying my brother to help move my furniture into this total.

Phone (2.9%) – My phone bill decreased from $146 to $108 when I upgraded my phone, so that’s a positive!

Spa (2%) – I spent money on massages ($410), hair appointments ($395), and pedicures ($168).

Pets (2%) – The girls were pretty easy this year! I spent $148 on vet appointments (as well as $216 for flea/heartworm treatment), so that was my biggest expense for them. I also spent money on food ($192), litter ($147), treats ($115), and toys ($86).

Christmas (1.9%) – I spent $905 on Christmas this year! That’s astounding to me, haha, because I’ve never kept track of how much money I spend on Christmas. Of course, I bought a new fake Christmas tree so that was a huge expense I won’t need to worry about for another few years.

Subscriptions (1.4%) – I’m subscribed to many different things, from different podcasts’ Patreon pages to Book of the Month to a bimonthly air filter subscription. These subscriptions cost me anywhere from $30 per month to $77 per month.

Gifts (1%) – I spent a little less than $500 on gifts throughout the year. I thought about making a savings account for gifts but it averages out to less than $40 per month so I decided against it.

Toiletries (1%) – I spent around $39 per month on toiletries, which include body wash, shampoo, conditioner, toothpaste, etc. Most of this is comprised of body wash, which is what I use for bubble baths. Since I take a bubble bath nearly every day, I buy a lot of body wash.

Travel (.9%) – I bought a plane ticket to visit New Orleans in the spring—a trip that, of course, had to be canceled. I was able to get a credit for the flight so at least my money was not spent in vain! Travel is usually one of the bigger expenses in my budget, so it makes me sad it was so low in 2020.

Household Supplies (.8%) – I spent an average of $33 per month on household supplies, which includes cleaning products, toilet paper, trash bags, etc. My highest spend month was August ($56) and my lowest was November ($3).

Blog (.8%) – My hosting fees were due this year (I pay every three years) and I bought a new blog design.

Beauty (.7%) – I am certain this would have accounted for a much higher total if the pandemic hadn’t happened. In January and February, I was averaging $40+ a month on beauty products. From March to November, I averaged $9 per month! (December is an outlier since I purchased some skincare products and makeup to the tune of $155.)

Charity (.7%) – This was the first year that I made charitable donations a regular part of my budget, and I’m so very glad I did. I picked one charity/cause per month to donate to, giving donations to political candidates, my nephews’ school, animal shelters, cancer charities, and racial justice initiatives.

Health (.4%) – Nothing too crazy to report here. A visit to a specialist, over-the-counter meds, medical supplies, and my gym membership for the time the gym was up and running.

Entertainment (.4%) – Well, the stats are in. I spent $148 on Candy Crush tokens in 2020. That amounts to $12 a month. Should I be embarrassed about this? Perhaps, but that game really is so soothing and fun to play!

Categories: Personal Finance

Monthly Budget Update | November 2020

Another month, another budget update! I’ve been thinking about whether or not I want to continue these monthly budget updates in 2021. Is it really necessary to list out everything I’m buying in such a detailed way? While it’s helpful for me to see my spending habits and all of this data will be used to create a much more robust budgeting system that actually works for my lifestyle (for example, budgeting $250 a month for food is LAUGHABLE), I am not sure I want to continue with this style of budget updates. Maybe I will, or maybe I’ll figure out a different way to talk about my finances in 2021. We’ll see!

For now, let’s dive into the numbers from November!

Housing (34.6% – $1,271 compared to $1,094 in October) – This will be my more normal housing budget going forward. Rent, electric, water, Internet, and Netflix.

Home (15.9% – $584 compared to $20 in October) – A much more expensive month on the home front. I bought a new dining room table and bookshelf, as well as a candle.

Groceries (9.7% – $357 compared to $298 in October) – I spent a lot on groceries this month, much more than I have been spending lately. I’m not quite sure why! Perhaps I did more grocery store visits this month than usual? I tend to go two times a week, but I think I was going more often in November for some reason.

Christmas Home (9.3% – $341 compared to $0 in October) – I’ve never, ever kept track of my Christmas purchases so good thing I’m dissecting my spending habits this year! I spent $341 alone on just decorations. Of course, $215 of this was my Christmas tree, which will last me for at least a few years. I also spent $25 on new stockings (I finally have stockings for the girls!), $13 on a holiday doormat, and nearly $80 on ornaments. (Oops. My new tree is so much bigger than my old one that I needed more! Eighty dollars worth of more? Probably not.)

Restaurants (8.3% – $307 compared to $334 in October) – Another spendy month for restaurants. But that’s just the way it goes for me!

Christmas Gifts (6.6% – $242 compared to $0 in October) – I am nearly finished with my Christmas shopping! I think I’ll maybe spend $100 more? Like I said, I have never kept track of how much money I spend on Christmas (which means I’ve never had a Christmas budget). I’m glad I’m doing that now so I can actually start a sinking fund for Christmas in 2021!

Shopping (5.1% – $189 compared to $84 in October) – I bought a handful of books (three e-books, four print books), five pairs of underwear, a coloring book, some face masks, and two Chatbooks.

Phone (2.9% – $108 compared to $108 in October) – Fixed expense.

Auto (1.9% – $69 compared to $31 in October) – I filled up my gas tank twice and bought new windshield wipers.

Gifts (1.1% – $39 compared to $60 in October) – A friend’s baby turned one so I bought some fun gifts for her! 🙂

Spa (1% – $35 compared to $78 in October) – Tips paid to my massage therapists (I got two massages in November).

Toiletries (.9% – $34 compared to $50 in October) – I bought mouthwash, shampoo, deodorant, and a few bottles of body wash.

Subscriptions (.9% – $33 compared to $70 in October) – Just Patreon, Spotify, and PicMonkey this month!

Entertainment (.8% – $31 compared to $10 in October) – Parking downtown and way too many credits on Candy Crush.

Beauty (.7% – $24 compared to $0 in October) – I bought an eyeshadow palette, a new hairbrush, and a blending sponge.

Pets (.4% – $14 compared to $50 in October) – A small toy and a set of disposable litter boxes (panic-bought when I was worried about needing to evacuate due to Hurricane Eta).

$0 categories in November: household supplies, health, donations, travel, savings, and debt payments.

Categories: Personal Finance

Monthly Budget Update | October 2020

Happy Friday, friends! I am FINALLY recapping my budget for the month of October. (Super delayed!) It’s been quite a crazy November already (I can’t believe it’s only the 13th; this month has felt three months long). October was way less spend-y than August and September, so woohoo for no more crazy moving expenses! Here’s how my budget broke down in October:

Housing (44.6% – $1,094 compared to $1,623 in September) – Housing took up a much bigger slice of the pie this month, but I spent much less overall. I received a credit on my rent, so I paid about $200 less than I was expecting, so that was a really nice surprise! However, I did have to pay a lot more for my electric bill, as I was paying for the electric at two places for about 9 days. (Around $137 in total, so not too bad!)

Restaurants (13.6% – $334 compared to $298 in September) – Y’alllllll. I can’t believe how much I spent on restaurants this month. This total includes several $30+ meals plus spending $25 to fill up my Starbucks card, but damn.

Groceries (12.2% – $298 compared to $280 in September) – You guys! I forgot to account for this category last month. Oops! My grocery budget has remained fairly steady over the past few months, though, so that’s a plus! Ideally, I’d love to get this number lower but I’m just not certain I’m willing to make the sacrifices to do that. #realtalk

Phone (4.4% – $108 compared to $108 in September) – Fixed expense.

Debts (4.3% – $105 compared to $105 in September) – Fixed expense.

Shopping (3.4% – $84 compared to $129 in September) – I bought a book (I technically bought it in September, but I didn’t get charged until October), a set of Etsy prints, and paints from Michaels.

Spa (3.2% – $78 compared to $216 in September) – A tip for my massage therapist, a pedicure, and a haircut.

Subscriptions (2.9% – $70 compared to $69 in September) – Patreon, Spotify, PicMonkey, and my air filter subscription. I also got dinged for another Daily Burn payment, after which I canceled my subscription.

Gifts (2.4% – $60 compared to $94 in September) – Two birthday cards and two gift cards for two friends. 🙂

Pets (2% – $50 compared to $117 in September) – An easy month for the girls! I bought litter, treats, and a toy.

Toiletries (2% – $50 compared to $42 in September) – I bought a new toothbrush, toothpaste, shampoo, and MANY bottles of body wash for my bubble baths.

Donations (1.3% – $31 compared to $25 in September) – My donation to the kitty catfe to pet kitties!

Auto (1.3% – $31 compared to $18 in September) – I filled up my car with gas once and went through the car wash.

Household Supplies (1.1% – $28 compared to $73 in September) – Nothing crazy here. I bought two bottles of dish soap, toilet paper, and Scotch tape.

Home (.8% – $20 compared to $670 in September) – Ahh, now that’s more like it! I only bought Command strips to hang up my gallery wall.

Entertainment (.4% – $10 compared to $25 in September) – I paid for parking downtown and bought some coins on Candy Crush.

Categories: Personal Finance

Monthly Budget Update | September 2020

 

It’s time for September’s monthly budget update, and I was very nervous about putting this post together. September was a very spend-y month with the move and figuring out what I needed to buy for the new place. There were some furniture purchases and lots of odds-and-ends. It was an expensive month for sure. So, let’s look at the damage:

Housing (39.5% – $1,623 compared to $1,105 in August) – Whew. It was a big month for the housing category. My rent was nearly $400 more since I was paying for two apartments for an eight-day period and my annual payment for renter’s insurance was due.

Home (16.3% – $670 compared to $641 in August) – Another insanely expensive month on the home front, as I bought a lot of new things for the apartment. The bulk of this total is my new dresser, TV stand, and desk. Other items include a ceiling fan, throw rugs, a doormat, organizing baskets, a silverware sorter, a dish drainer, a lamp… I could go on, but let’s leave it there.

Moving Expenses (12.1% – $495 compared to $26 in August) – The bulk of this total is made up of the pet fee I had to pay to move into the new place. I also paid my brother for moving all of my furniture.

Restaurants (7.3% – $298 compared to $311 in August) – Honestly shocked that I spent less on restaurants this month than last month. I am A-OK with this total.

Spa (5.3% – $216 compared to $0 in August) – I thought it was weird that months had gone by without being charged my monthly fee for my massage membership. Turns out, my card had expired. Whoops! I had to play catch up with my subscription this month, which equated to three payments. I also got a pedicure.

Shopping (3.1% – $129 compared to $121 in August) – Most of my shopping was directed toward home purchases, but I still racked up a bit of a total this month. This total includes books and an Old Navy online purchase (two shirts, a pair of shorts, and a packet of face masks). I also bought a new laptop stand and wireless keyboard (but I maaaay end up returning these since I just found out that my work may be allowing us to bring home our work computers—finally!)

Pets (2.8% – $117 compared to $0 in August) – It was an expensive month for the cats after not spending any money on them in August. This category includes food, treats, litter, a new mat for one of their litter boxes, and a mat for their food/water.

Phone (2.6% – $108 compared to $108 in August) – Fixed expense.

Debts (2.6% – $105 compared to $105 in August) – Fixed expense.

Gifts (2.3% – $94 compared to $0 in August) – A big month for birthdays! My brother, my nephew, and a good friend all celebrated birthdays.

Household supplies (1.8% – $73 compared to $56 in August) – I bought trash bags, dish soap, toilet paper, laundry detergent, hand soap, and some other supplies.

Subscriptions (1.7% – $69 compared to $49 in August) – Patreon, Spotify, PicMonkey, and Book of the Month. I also spent $20 on a subscription to DailyBurn that I didn’t use (have since canceled).

Toiletries (1% – $42 compared to $37 in August) – Mouthwash, shampoo, conditioner, and maaaaany bottles of body wash.

Entertainment (.6% – $25 compared to $22 in August) – I went a little crazy with Candy Crush this month. Oops.

Donations (.6% – $25 compared to $32 in August) – I donated to the Biden/Harris campaign!

Auto (.4% – $18 compared to $591 in August) – Ha, what a difference! I only needed to fill up my gas tank once this month.

$0 categories in September: beauty, health, travel, and savings. Hoping I can get back into my savings goals in October!