So, after my set monthly base expenses, (rent, utilities, phone, subscriptions, insurances) I have $500 directly deposited into my savings/IRA. I do have a set amount I "allow" myself to spend on food, gas, personal items, clothing or medical bills/prescriptions, so I created a spreadsheet to keep track of each and every time I spend money in those categories. I figured it would be nice to see where I am spending my $ the most, and then I can take from one/ give to the other if I need to, or even save what is left from each category at the end of the month.
I do not like the idea of linking my cards and accounts to an app, and I do prefer to write things down, so this is working really well for me and I get so excited when I see that I have a good amount extra left at the end of the month to add to my savings!
I thrift like crazy, eat out MAYBE once a month (so I cook at home mostly and love it), walk to places if I can, drink the free coffee at work, buy in bulk when it is worth it, utilize the library I am a librarian at for books and movies, make a lot of gifts homemade, and I take advantage of the discounted vaccination clinics for my pup. I can honestly say that I do NOT feel deprived AT ALL!
I save 10% of my paychecks to retirement and my employer puts in 14% so what I save on my own gets divided up between my IRA and just my regular savings.
I have been doing this way of tracking everything for years and have been debt free for over 10 years (with a master's degree) and own my own car. It can be done people, you just have to want it bad enough and be strict with yourself!
January 12, 2019 at 11:00AM
