In May 2017 it hit me that I had spent the last year and a half in a full-time salaried position, plus 9 years before that working for money. Yet, I had no idea what my income had brought me. I wasn’t saving for retirement, I didn’t have a freedom fund, and I still had student loans! Where was all the money I had ever made? Was I spending based on my values?
This prompted me to start tracking every single purchase. I wanted to know exactly where my money was going. I wanted to start building wealth, but in order to start, I needed to understand my spending trends.
The #MonthlyExpenses segment is an effort to keep myself accountable for my purchases and on track for my savings and debt payoff goals.
Happy Plastic Free July! This month was all about reducing my plastic consumption, which meant eating out less and not buying unnecessary items, ie. makeup. But while I was challenging and limiting one aspect of my life, another part of it was craving spontaneity, to which I gave in. If months have a theme, July would’ve been for professional development.
It started when I attended a The Latinista panel with my favorite podcasters and money experts. I made a last minute decision to attend because I was on the fence about the pricey ticket. Needless to say, it was worth every penny. Not only was the discussion great, but being in a room full of Latinas I admire really put a smile on my face and reminded me why I started this blog. I also took advantage of this opportunity and connected with one of these women!
Then came my decision to go to FinCon. The thought hadn’t even crossed my mind until I read that Luxe from The Luxe Strategist was selling her ticket. The price was good so I went for it and now I’ll be attending to my first FinCon ever! Not only is this my first FinCon, but it’s the first conference I’ll be attending for my professional growth.
On the personal side, I took a short weekend trip to Upstate New York. My friend hosted us at her family vacation home, so the trip was very low cost, only consisting of paying for groceries and alcohol. It was nice to get away and disconnect from technology even for a little while, and especially when it doesn’t cost an arm and a leg.
My highest expense this month was transportation, July showers really forced me to use the subway. Back in May, I decided to stop paying for the monthly Metrocard and signed up for a yearly CitiBike membership. I did this to try and save money during the warm months, obviously, in the winter, I will go back to taking the subway.
I know last month I said I wanted to work on lowering the amount I eat out, while it didn’t really happen this month. Eating out less means I need to make a stronger commitment to meal prepping. I have meal prepped in the past, but I’ve since gotten lazy and been too busy*. This is more important now more than ever since I have decided to go vegetarian after being a pescatarian for six years, and will need to make sure I’m receiving sufficient nutrients. SO I WILL CONTINUE TO WORK ON THIS.
*I hate when people say they’re too busy because you make time for the things that matter so I guess other things matter more than meal prepping right now. AKA this blog and having quality family time.
|Misc.||$18.00||This includes money lent and colleague bridal party at the office|
|Transportation||$64.25||It was raining a lot this month so I couldn’t really ride the CitiBike plus the gas from our upstate trip|
|Eating Out||$179.76||Lower than usual? Thank you PFJ|
|Home Items||$56.49||Stocked up on toiletries|
|Pet Stuff||$72.63||More medicine for Char and her insurance|
|Payments Made||$153.60||I had to pay NJ taxes and house gas bill|
|Phone & Internet||$86.43||Unlimited call and text (no data) and internet for the house|
|Entertainment||$46.00||Alcohol for our trip|
|Business||$289.95||Fincon and an event for Latinas and money|
|Clothing||$0.00||Still not shopping!|
|Investments||$369.35||Roth IRA contributions|