Amount spent: $7.00
What: Starbucks
Amount spent: $6.00
What: movie
All I can say is that...it's the end of March. Thank God.
Tuesday, March 31, 2009
Friday, March 27, 2009
Errands!
Amount spent: $15
What: medicine
Amount spent: $4.50
What: toothbrush and orange juice
I said there would be more, but look! I went to the grocery store and only bought what I truly NEEDED. No extra goodies allowed. Hopefully this will be the last of my spending this month. My boyfriend is visiting tomorrow night but hopefully we can keep that cheap as well, perhaps even spend-free for me!
Oh, and how did CVS know I needed a refill on my prescription...yesterday? I technically don't even run out of pills until tomorrow, but when I called the pharmacy to put in a refill request, they said it was ready for pickup! Hmm, very strange.
What: medicine
Amount spent: $4.50
What: toothbrush and orange juice
I said there would be more, but look! I went to the grocery store and only bought what I truly NEEDED. No extra goodies allowed. Hopefully this will be the last of my spending this month. My boyfriend is visiting tomorrow night but hopefully we can keep that cheap as well, perhaps even spend-free for me!
Oh, and how did CVS know I needed a refill on my prescription...yesterday? I technically don't even run out of pills until tomorrow, but when I called the pharmacy to put in a refill request, they said it was ready for pickup! Hmm, very strange.
Graduation fees
Amount spent: $25.45
What: cap and gown
Can you blame me? I gotta graduate, and for some reason Miami is insistent that we're all matchy-matchy.
More later, but I gotta run.
What: cap and gown
Can you blame me? I gotta graduate, and for some reason Miami is insistent that we're all matchy-matchy.
More later, but I gotta run.
Wednesday, March 25, 2009
Explanations
Amount spent: $24.40
What: gas
This purchase comes at the end of an exhausting bout of check writing, in which my checking account was severely depleted. However these expenses (not exactly purchases, I would say) were not recorded here for several reasons. First, they came at a severe emotional toll and left me completely unenthused to record them. Second, I believe I was trying to deny to myself that my bank account was growing dangerously low, and perhaps I thought if I denied that I spent that money, I wouldn’t have spent it at all.
But the fact remains that I did write a $274 check to Uncle Sam for taxes owed, and a $875 check to NYU housing as a deposit for their Summer Publishing Institute, which I will be attending in June.
But don’t hyperventilate yet. Let me explain. First of all, the $875 will be paid back to me because while I will be paying for the bulk of the NYU program (to be explained at a later date), my family has graciously volunteered to pay for housing. Unfortunately, I had to send a check for the first three weeks with my deposit and letter of intent, and so I had to cut the check. However, my mom has said this money will be refunded me soon, or at least whenever I see her next. I’m not going to press her too hard because I’m really appreciative of their help, however that sum will be returned.
The $274 comes with a bit of better news. You see, when I first did my taxes I believed I owed that amount, which was unfortunate but I wrote the check anyway. Well, yesterday I received word from my mom that after going over my taxes a second time, she realized that I missed a worksheet and didn’t include a deduction that I was due. She will be filing an Amend Sheet for me, but because of this goof-up, I will not only be receiving the $274 back, but I will be receiving a refund close to $400!
You see how complicated this can be? Although I won’t get refunded in full for awhile, knowing that I have this money relieves me to no end. My checking account was dangerously low (well, it still is) for awhile, and so I have plans on transferring $1,000 to my savings account once I hit $3,000 in checking. Knowing I have $3,000 in checking allows me too much freedom in my purchasing power, and I need to be reined in. Plus, squirreling away that extra $1,000 somewhere safe will make me feel much better in the long run.
In other news, I have learned that this obsession I have with saving (see above paragraph) is a psychological condition, known as hyperopia—marked by far-sightedness and an inability to enjoy the fruits of my labor in the form of purchases. Well, at least it has a name. Like I said, I do have a plan for paying for NYU but due to time constraints (I’m hoping to duck out of my internship early) I need to cut this short.
What: gas
This purchase comes at the end of an exhausting bout of check writing, in which my checking account was severely depleted. However these expenses (not exactly purchases, I would say) were not recorded here for several reasons. First, they came at a severe emotional toll and left me completely unenthused to record them. Second, I believe I was trying to deny to myself that my bank account was growing dangerously low, and perhaps I thought if I denied that I spent that money, I wouldn’t have spent it at all.
But the fact remains that I did write a $274 check to Uncle Sam for taxes owed, and a $875 check to NYU housing as a deposit for their Summer Publishing Institute, which I will be attending in June.
But don’t hyperventilate yet. Let me explain. First of all, the $875 will be paid back to me because while I will be paying for the bulk of the NYU program (to be explained at a later date), my family has graciously volunteered to pay for housing. Unfortunately, I had to send a check for the first three weeks with my deposit and letter of intent, and so I had to cut the check. However, my mom has said this money will be refunded me soon, or at least whenever I see her next. I’m not going to press her too hard because I’m really appreciative of their help, however that sum will be returned.
The $274 comes with a bit of better news. You see, when I first did my taxes I believed I owed that amount, which was unfortunate but I wrote the check anyway. Well, yesterday I received word from my mom that after going over my taxes a second time, she realized that I missed a worksheet and didn’t include a deduction that I was due. She will be filing an Amend Sheet for me, but because of this goof-up, I will not only be receiving the $274 back, but I will be receiving a refund close to $400!
You see how complicated this can be? Although I won’t get refunded in full for awhile, knowing that I have this money relieves me to no end. My checking account was dangerously low (well, it still is) for awhile, and so I have plans on transferring $1,000 to my savings account once I hit $3,000 in checking. Knowing I have $3,000 in checking allows me too much freedom in my purchasing power, and I need to be reined in. Plus, squirreling away that extra $1,000 somewhere safe will make me feel much better in the long run.
In other news, I have learned that this obsession I have with saving (see above paragraph) is a psychological condition, known as hyperopia—marked by far-sightedness and an inability to enjoy the fruits of my labor in the form of purchases. Well, at least it has a name. Like I said, I do have a plan for paying for NYU but due to time constraints (I’m hoping to duck out of my internship early) I need to cut this short.
Friday, March 20, 2009
I feel ya
Boy do I know...
Rest of the story here.
The Costs of Owning a Car
New York Times
How much does it cost to own a car? Wheels readers debated that question after I posted an article about how the recession has helped to decrease driving. I have since found that the cost of car ownership is probably a whole lot more than you think. If your estimates are based on what you paid for your vehicle, plus the cost of gas, oil and repairs, you’re forgetting about insurance, depreciation, parking fees, tolls and registration, among other things.
Rest of the story here.
Wednesday, March 18, 2009
Horrible time for saving
Amount spent: $274.00
What: Taxes
Amount spent: $26.09
What: CO Bigelow products
Amount spent: $63.37
What: Gap jeans
Amount spent: $13.40
What: Gas
Amount spent: $19.48
What: Groceries
So let's just go ahead and say the budget is already blown for March. It's not even over, let me tell you. I know most of this is pretty inexcusable...I know, $63 for Gap jeans when you're supposed to be on a budget? And what's with this shopping at CO Bigelow?! They're never good for the wallet, so why did you allow yourself to wander into their midst?
I honestly don't know what to say for myself. I had to pay Uncle Sam $274 because I apparently didn't pay enough in federal taxes this year. I'm getting $100 or so back in state refunds, but I clearly won't break even this year. My only explanation for CO Bigelow was that I needed new face cream. Ok? Plain and simple. I have dry skin that is also very sensitive, and it's winter. Under these circumstances, the aforementioned skin becomes very painful and it's damn near impossible to live with such unhealthy-ness chipping away at your beautiful face. Impossible, I tell you! Now, my old skin treatment used to come from Bath & Body Works. It was $20 but I was OK with that. I had soy, which meant it was "all natural," thereby containing no harsh chemicals that would turn my face into a giant tomato. It was also heavy enough to moisturize my parchment dry skin in winter's harshest months. Well it was spring break, and I drove to my neighborhood Bath & Body Works to buy a replacement jar because I was running dangerously low. Unfortunately, I was informed that they had stopped carrying that line. However, I might find it at CO Bigelow, at the mall.
Well you can imagine the conundrum that I now faced. Should I walk down to Target and find a replacement face cream from the budget rack, a mystery substance with the high probability of being yet another disappointment. As much as I hated to be high maintence, I knew I need to find that cream or a replacement akin in quality. So I went to the mall that night, with my brothers as company. I told them we were merely popping into CO Bigelow, finding a lotion and leaving, and they seemed OK with it. At CO Bigelow, I was informed that they had stopped making my face cream altogether. However, the store had such a cornucopia of specialized lotions, I knew I could find an suitable alternative. And I did. I also found a lovely lip balm with shea butter and almond oil that made your lips feel like satin. It was $5. The lotion was $20.
Now we were in the mall. I felt bad heading for the door, so I asked if my brothers wanted to do a bit of shopping. We headed to the GAP. Now I've never bought anything at the GAP, ever. However I had made a mistake that night. I had made the mistake of wearing a pair of jeans that were much too small for me. They clung to my legs and made my ass look much too unnatural, but they were all I had clean so I wore them. At home, I never thought much about how these jeans didn't fit me...I didn't realize that I had gained a few pounds since I last shimmied into these jeans and the junk simply couldn't fit in the trunk anymore. But at the mall, your entire appearance comes in sharp perspective. On parade for all the chic to see, you begin to recognize your body's every flaw, your bad hair and your horrible wardrobe choices. That's why the mall is so dangerous. Feeling so bad about yourself, the only balm for this wound is to shop for a NEW identity, and hey there are countless stores at your disposal.
That's the way I felt walking into the GAP. I realized how much my jeans didn't fit...I realized that many of my jeans didn't fit...and I realized how much I needed NICE, grown-up jeans. Jeans that ran with even sizes, instead of the 5's and 7's I had been fiddling with in the junior section of Kohls for years. 5's and 7's never quite fit me correctly, but they were cheap. So I always disregarded the more expensive, even-sized jeans of the mall and choose their trashy cousins instead. With a rush of indignant rage, I realized, standing in the GAP, how much I had short-changed myself over the years. How much I had sacrificed my own dignity (look at me now, walking around in these ridiculously tight jeans!) for price. Well no more. I walked right up to a table with boot cut, dark washed jeans, immediately found a size 6 and didn't look back. Luckily, I only bought one pair of jeans, but the damage was done. On the flip size, I now have this great pair of jeans that fits me perfectly and that will last for years to come. Hey, it might even turn out to be a wise investment.
The other purchases were out of necessity. And hey, I almost stayed in my grocery budget. And I'm still doing OK on gas. Unfortunately, there is trouble ahead. I was accepted to NYU's Summer Publishing Institute and while my parents have wrote the $500 deposit check, I will writing a check to NYU housing in the upcoming days. Stay tuned.
What: Taxes
Amount spent: $26.09
What: CO Bigelow products
Amount spent: $63.37
What: Gap jeans
Amount spent: $13.40
What: Gas
Amount spent: $19.48
What: Groceries
So let's just go ahead and say the budget is already blown for March. It's not even over, let me tell you. I know most of this is pretty inexcusable...I know, $63 for Gap jeans when you're supposed to be on a budget? And what's with this shopping at CO Bigelow?! They're never good for the wallet, so why did you allow yourself to wander into their midst?
I honestly don't know what to say for myself. I had to pay Uncle Sam $274 because I apparently didn't pay enough in federal taxes this year. I'm getting $100 or so back in state refunds, but I clearly won't break even this year. My only explanation for CO Bigelow was that I needed new face cream. Ok? Plain and simple. I have dry skin that is also very sensitive, and it's winter. Under these circumstances, the aforementioned skin becomes very painful and it's damn near impossible to live with such unhealthy-ness chipping away at your beautiful face. Impossible, I tell you! Now, my old skin treatment used to come from Bath & Body Works. It was $20 but I was OK with that. I had soy, which meant it was "all natural," thereby containing no harsh chemicals that would turn my face into a giant tomato. It was also heavy enough to moisturize my parchment dry skin in winter's harshest months. Well it was spring break, and I drove to my neighborhood Bath & Body Works to buy a replacement jar because I was running dangerously low. Unfortunately, I was informed that they had stopped carrying that line. However, I might find it at CO Bigelow, at the mall.
Well you can imagine the conundrum that I now faced. Should I walk down to Target and find a replacement face cream from the budget rack, a mystery substance with the high probability of being yet another disappointment. As much as I hated to be high maintence, I knew I need to find that cream or a replacement akin in quality. So I went to the mall that night, with my brothers as company. I told them we were merely popping into CO Bigelow, finding a lotion and leaving, and they seemed OK with it. At CO Bigelow, I was informed that they had stopped making my face cream altogether. However, the store had such a cornucopia of specialized lotions, I knew I could find an suitable alternative. And I did. I also found a lovely lip balm with shea butter and almond oil that made your lips feel like satin. It was $5. The lotion was $20.
Now we were in the mall. I felt bad heading for the door, so I asked if my brothers wanted to do a bit of shopping. We headed to the GAP. Now I've never bought anything at the GAP, ever. However I had made a mistake that night. I had made the mistake of wearing a pair of jeans that were much too small for me. They clung to my legs and made my ass look much too unnatural, but they were all I had clean so I wore them. At home, I never thought much about how these jeans didn't fit me...I didn't realize that I had gained a few pounds since I last shimmied into these jeans and the junk simply couldn't fit in the trunk anymore. But at the mall, your entire appearance comes in sharp perspective. On parade for all the chic to see, you begin to recognize your body's every flaw, your bad hair and your horrible wardrobe choices. That's why the mall is so dangerous. Feeling so bad about yourself, the only balm for this wound is to shop for a NEW identity, and hey there are countless stores at your disposal.
That's the way I felt walking into the GAP. I realized how much my jeans didn't fit...I realized that many of my jeans didn't fit...and I realized how much I needed NICE, grown-up jeans. Jeans that ran with even sizes, instead of the 5's and 7's I had been fiddling with in the junior section of Kohls for years. 5's and 7's never quite fit me correctly, but they were cheap. So I always disregarded the more expensive, even-sized jeans of the mall and choose their trashy cousins instead. With a rush of indignant rage, I realized, standing in the GAP, how much I had short-changed myself over the years. How much I had sacrificed my own dignity (look at me now, walking around in these ridiculously tight jeans!) for price. Well no more. I walked right up to a table with boot cut, dark washed jeans, immediately found a size 6 and didn't look back. Luckily, I only bought one pair of jeans, but the damage was done. On the flip size, I now have this great pair of jeans that fits me perfectly and that will last for years to come. Hey, it might even turn out to be a wise investment.
The other purchases were out of necessity. And hey, I almost stayed in my grocery budget. And I'm still doing OK on gas. Unfortunately, there is trouble ahead. I was accepted to NYU's Summer Publishing Institute and while my parents have wrote the $500 deposit check, I will writing a check to NYU housing in the upcoming days. Stay tuned.
Saturday, March 14, 2009
Panera lunch
Amount spent: $9.24
What: lunch at Panera
Mmmm, did I mention how lovely and delicious Panera food is? Especially when it's a bowl of French onion soup and half a Caesar salad. Better than fast food and a much better way to spend time with the boyfriend before he heads back to school.
In other news, I need to stop eating out. It's only March 14. My budget is already blown--yikes.
What: lunch at Panera
Mmmm, did I mention how lovely and delicious Panera food is? Especially when it's a bowl of French onion soup and half a Caesar salad. Better than fast food and a much better way to spend time with the boyfriend before he heads back to school.
In other news, I need to stop eating out. It's only March 14. My budget is already blown--yikes.
Thursday, March 12, 2009
Days of research, days of spending
Amount spent: $7.77
What: lunch at Skyline
Amount spent: $27.46
What: gas
Amount spent: $6.35
What: four DVD rentals at Blockbuster
Amount spent: $17.63
What: lunch at Skyline (for two)
Amount spent: $180.98
What: car payment
Amount spent: $6.75
What: parking in downtown Cincinnati
Don't panic; I haven't lost my resolve to rein in my spending just yet. As bad as this may look, remember that I'm still trying to get into the habit of recording my purchases in this blog again, and so more than a week of purchases are merely catching up with me here.
Most of it is self-explanatory. The car payment was a necessity, as was the gas (I still can't get over how cheap it is compared to last summer). I have been eating out a bit too much lately, although I'm lucky my cravings have merely been for Skyline. The larger bill was when I paid for both my boyfriend and myself, the smaller when I went out with my younger brother. We probably didn't need to eat out, but it was the least I could do considering he went downtown with me, keeping me company while I conducted research for a journalism capstone project (that's where the $6.75 garage fee comes in). I was going to pay for him, however the waitress perceived that we weren't on a date (thank goodness) and gave us separate checks.
I would like to point out the relatively low bill for DVD rentals at Blockbuster, though. Last summer, when I was determined to catch up on the first two seasons of Big Love, DVD rentals cost me a small fortune. In fact, it was getting so expensive I had to hold off renting until my coffers were refilled. It seems, though, that Blockbuster has switched financial philosophies. Now, rentals for new movies are $1.99 and old movies are merely $.99. Whereas four DVDs last summer would have put me back $16-$20, now I barely broke $10. Amazing.
What: lunch at Skyline
Amount spent: $27.46
What: gas
Amount spent: $6.35
What: four DVD rentals at Blockbuster
Amount spent: $17.63
What: lunch at Skyline (for two)
Amount spent: $180.98
What: car payment
Amount spent: $6.75
What: parking in downtown Cincinnati
Don't panic; I haven't lost my resolve to rein in my spending just yet. As bad as this may look, remember that I'm still trying to get into the habit of recording my purchases in this blog again, and so more than a week of purchases are merely catching up with me here.
Most of it is self-explanatory. The car payment was a necessity, as was the gas (I still can't get over how cheap it is compared to last summer). I have been eating out a bit too much lately, although I'm lucky my cravings have merely been for Skyline. The larger bill was when I paid for both my boyfriend and myself, the smaller when I went out with my younger brother. We probably didn't need to eat out, but it was the least I could do considering he went downtown with me, keeping me company while I conducted research for a journalism capstone project (that's where the $6.75 garage fee comes in). I was going to pay for him, however the waitress perceived that we weren't on a date (thank goodness) and gave us separate checks.
I would like to point out the relatively low bill for DVD rentals at Blockbuster, though. Last summer, when I was determined to catch up on the first two seasons of Big Love, DVD rentals cost me a small fortune. In fact, it was getting so expensive I had to hold off renting until my coffers were refilled. It seems, though, that Blockbuster has switched financial philosophies. Now, rentals for new movies are $1.99 and old movies are merely $.99. Whereas four DVDs last summer would have put me back $16-$20, now I barely broke $10. Amazing.
Friday, March 6, 2009
A new year, and a new goal
Well, it's good to be back. After reading a former co-worker's blog, I started to become slightly nostalgic for my times tip-tapping away at the keyboard about my purchases, usually during some down time at work. So here I am, readers...back with a vengeance.
I also wanted to jump start Penny Foolish again because money is yet again a problem. No, I haven't graduated from college yet (although money will definitely be an issue then), nor has gas risen to $4.00 a gallon. Yes, reading over past posts, I can hardly believe times were so hard this summer. The last time I filled up my car, gas was $1.60 and it costs me around $25. Good times, right?
Wrong. With the country now in a recession, and the job market looking more and more formidable every day, the money problem has now escalated beyond whatever financial panic there was a mere six months ago. I remember high crude prices driving the markets down this summer, sometimes down to the dreaded 11,000 level. Well, it's tanking around 7,000 now and (to make a very long, complex story short) with banks failing, the real estate market in the gutter and the biggest automaker in the country--GM--now facing bankruptcy, one can hardly believe what a pickle we have found ourselves in. Who knows if President Obama's multi-billion dollar stimulus plan will work (it definitely won't yield any short-term results), but people are hunkering down for the worst.
The crash of the US financial system has also coincided with the loss of my job at the student newspaper. There, as a senior managing editor, I was making $8.15 week. Combined with my job at the library, I was pushing the maximum of 30 hours per week allowed for student workers, however the dough was rolling in. I've been yelled at a few times for going over hours (sometimes by more than 10 hours!), but my last big paycheck was more than $400. Score. Now, as a second semester senior, I've been forced to retire. I've picked up a substantial number of hours at the library, but I haven't yet seen a paycheck post-newspaper income. If I could break $300 a paycheck, I'd be happy, but I doubt this will happen.
In addition, the beginning of the spring semester saw an excrutiating period of financial hemmoraging from my checking account. With no paychecks after winter break, I was shelling out money left and right for school, which included a hefty bill at Dubois, an expensive parking pass, etc. I continue to pay my car payments and insurance bill every month, and now I'm shelling out $50 a month on gas, driving to Dayton for an internship twice a week. At the time, I was beginning to panic, and I knew I needed to take action.
So I made a budget. Now, I have bad history with budgets, but I needed one this time--and I needed to follow it. And now that I've rediscovered my Penny Foolish blog, I've decided this blog will keep me on track. I did pretty well for the month of February, however I know there were a few small purchases that I forgot to include in my final tally. Using this blog as a tool, I can monitor those purchases and look for ways to pare them down in the future. For readers, this may also be an interesting look into the spending habits of a college student (not just one on summer break), if you're interested in that sort of stuff.
So here it is. Every month, I will pay:
Car Payment: $180.98 -- The same every month, and will be until kingdom come. I just have to get used to it.
Insurance: $85.09 -- It went down when I turned 22 in September. Let's hope that pattern continues.
Gas: $50 -- Hopefully two fill-ups a month, each at $25 a piece, will work. I drive an hour to and from work, twice a week, so gas is always on my mind.
Groceries: $30 -- I set this one after a particularly large grocery bill. I'm determined to eat what I have and only buy what I'll eat. The dining hall can take care of the rest.
Eating Out: $20 -- This one is hard to keep, and last month I went over by $20. However, if I manage my social calendar well and watch my wallet when my boyfriend and I go out, this can be done.
Living: $20 -- This one is also hard, and a little vague. I've decided that living covers what everything else doesn't, from shampoo to iTunes songs. This will definitely impact any potential trips to the mall, but I think I can stand to wear the clothes I have.
Medication: $15 -- You can make your own assumptions about a "medication" that I purchase every month, but since it is a necessity, I didn't think it fair to include this in my "Living" category.
Last month I was over by $4, which wasn't bad considered my overage in both the "Eating Out" and "Living" categories. Luckily, that was offset by a lack of trips to the grocery store. I could decrease my goal in that category accordingly, but I don't want to potentially short-change myself (haha, literally). Most of it was due to trips home and a benevolent mother.
Anyway, my spending goal each month is $401. Like I said, last month I went over by $4, but I made $691.52. So there was net gain of $301.03. Not bad, but I definitely can do better.
This blog will official kick off the start of March, in which column there are no expenditures so far. I know that gas will most likely see a hike this month; even though I don't have my internship during spring break (now), I will be driving down to Cincinnati a few times to conduct some research for a senior journalism project. I have tried to make cuts where I can so far, though. I am not (as you see) going on any spring vacations, and I did not participate in my college's "Green Beer Day" yesterday, saving me $50-$100. My mother will hopefully pay for some of my groceries before I go back to school as well, so hopefully that makes up for the missed week of work.
I also wanted to jump start Penny Foolish again because money is yet again a problem. No, I haven't graduated from college yet (although money will definitely be an issue then), nor has gas risen to $4.00 a gallon. Yes, reading over past posts, I can hardly believe times were so hard this summer. The last time I filled up my car, gas was $1.60 and it costs me around $25. Good times, right?
Wrong. With the country now in a recession, and the job market looking more and more formidable every day, the money problem has now escalated beyond whatever financial panic there was a mere six months ago. I remember high crude prices driving the markets down this summer, sometimes down to the dreaded 11,000 level. Well, it's tanking around 7,000 now and (to make a very long, complex story short) with banks failing, the real estate market in the gutter and the biggest automaker in the country--GM--now facing bankruptcy, one can hardly believe what a pickle we have found ourselves in. Who knows if President Obama's multi-billion dollar stimulus plan will work (it definitely won't yield any short-term results), but people are hunkering down for the worst.
The crash of the US financial system has also coincided with the loss of my job at the student newspaper. There, as a senior managing editor, I was making $8.15 week. Combined with my job at the library, I was pushing the maximum of 30 hours per week allowed for student workers, however the dough was rolling in. I've been yelled at a few times for going over hours (sometimes by more than 10 hours!), but my last big paycheck was more than $400. Score. Now, as a second semester senior, I've been forced to retire. I've picked up a substantial number of hours at the library, but I haven't yet seen a paycheck post-newspaper income. If I could break $300 a paycheck, I'd be happy, but I doubt this will happen.
In addition, the beginning of the spring semester saw an excrutiating period of financial hemmoraging from my checking account. With no paychecks after winter break, I was shelling out money left and right for school, which included a hefty bill at Dubois, an expensive parking pass, etc. I continue to pay my car payments and insurance bill every month, and now I'm shelling out $50 a month on gas, driving to Dayton for an internship twice a week. At the time, I was beginning to panic, and I knew I needed to take action.
So I made a budget. Now, I have bad history with budgets, but I needed one this time--and I needed to follow it. And now that I've rediscovered my Penny Foolish blog, I've decided this blog will keep me on track. I did pretty well for the month of February, however I know there were a few small purchases that I forgot to include in my final tally. Using this blog as a tool, I can monitor those purchases and look for ways to pare them down in the future. For readers, this may also be an interesting look into the spending habits of a college student (not just one on summer break), if you're interested in that sort of stuff.
So here it is. Every month, I will pay:
Car Payment: $180.98 -- The same every month, and will be until kingdom come. I just have to get used to it.
Insurance: $85.09 -- It went down when I turned 22 in September. Let's hope that pattern continues.
Gas: $50 -- Hopefully two fill-ups a month, each at $25 a piece, will work. I drive an hour to and from work, twice a week, so gas is always on my mind.
Groceries: $30 -- I set this one after a particularly large grocery bill. I'm determined to eat what I have and only buy what I'll eat. The dining hall can take care of the rest.
Eating Out: $20 -- This one is hard to keep, and last month I went over by $20. However, if I manage my social calendar well and watch my wallet when my boyfriend and I go out, this can be done.
Living: $20 -- This one is also hard, and a little vague. I've decided that living covers what everything else doesn't, from shampoo to iTunes songs. This will definitely impact any potential trips to the mall, but I think I can stand to wear the clothes I have.
Medication: $15 -- You can make your own assumptions about a "medication" that I purchase every month, but since it is a necessity, I didn't think it fair to include this in my "Living" category.
Last month I was over by $4, which wasn't bad considered my overage in both the "Eating Out" and "Living" categories. Luckily, that was offset by a lack of trips to the grocery store. I could decrease my goal in that category accordingly, but I don't want to potentially short-change myself (haha, literally). Most of it was due to trips home and a benevolent mother.
Anyway, my spending goal each month is $401. Like I said, last month I went over by $4, but I made $691.52. So there was net gain of $301.03. Not bad, but I definitely can do better.
This blog will official kick off the start of March, in which column there are no expenditures so far. I know that gas will most likely see a hike this month; even though I don't have my internship during spring break (now), I will be driving down to Cincinnati a few times to conduct some research for a senior journalism project. I have tried to make cuts where I can so far, though. I am not (as you see) going on any spring vacations, and I did not participate in my college's "Green Beer Day" yesterday, saving me $50-$100. My mother will hopefully pay for some of my groceries before I go back to school as well, so hopefully that makes up for the missed week of work.
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