So May’s frugal month didn’t go quite like I planned. But I did learn some important things!
I learned that spending, for me, is a reward. I buy myself food or items I want because I WORK HARD DAMMIT. I’m a single mom, I pay all of my bills, I’m saving money for a down payment on a house for myself. I’m putting money into an IRA, I’m researching 529 plans so my daughter can go to a college after high school, and I’m trying to have a cushion for unexpected things.
I’m doing all of this because it’s important to me! I’m thinking towards my future while trying to enjoy my present! I’m putting away about 23% of my income monthly towards these goals. That’s not a lot of money, but I’m solely responsible for my daughter.
Here’s what I want to focus on.
Things I HAVE To Spend Money On:
- Daycare – so I can keep working
- Health Insurance/Dental Insurance – I’m already paying the minimums I can
- Cell Phone – mine isn’t too expensive bc I’m past the 2-year payment period, and I’m not planning on upgrading anytime soon!
- Credit Cards – duh (I’m hoping to pay these down!)
- Dental Payments – I need a lot of work and it’s going to hurt.
- Car Insurance/Gas – necessary
- CapOne Investments – saving for my future retirement (I’m making a monthly minimal deposit, but I’m hoping to bump it up soon! My boss is also discussing adding a 401k at my job! Although technically this is saving, I could stop the investments to pay off debt faster)
- Forced Saving with my Mom – technically savings again, but it’s a necessary expenditure against my income to prove to them I’m serious about my future.
Things I WANT to Spend Money On:
- Once a week Starbucks – only for walking with friend. *I do use my Starbucks app and get free drinks every 125 stars, so you know…
- Date Nights – going to cut back on expensive dinners and try picnics/hiking/pool hall with a beer. Changing the things we do, will lead to cheaper, but fun times!
- Groceries – I don’t have to buy groceries in my house, but if I want specific food items at work, I’m happy to buy them for myself!
- Gym Membership – It’s for my sanity
What I’m NOT SPENDING Money On:
- Lunches for work – I have a bad habit of bringing food and STILL picking up something from the grocery store! It’s not that hard to eat some leftovers or pack a sandwich.
- Clothes – I have a ton of cute clothes in my closet and all of them fit! I’m also lucky that my boyfriend’s sister lives to fix/make clothes… So I could pester her to fix whatever I can’t!
- Buying things for other people – I have a bad habit of buying food or items for people if they need it!! So I’m cutting back on the gift giving!
- Takeout food – this is even more expensive than picking up lunch…I’m being charged for delivery and a tip!
- Movies – I can wait until they come out on Netflix!
I’m going to keep moving forward and learning from my frugal months. June should be a lot easier as I won’t need to purchase any gifts, and my tattoo is paid off! My boyfriend is still on-board with leaning towards frugal as he too wants to build his life. We discuss in ours sometimes, but as our relationship is still kinda new, we’re hesitant to make them concrete. 🙂
Some exciting news: We’ve been dating for almost 6 months! It’s crazy and I’m excited to see how we’ll grow together.
Comment below and let me know what are some of your necessities that aren’t really necessities!