For the past few weeks, I’ve talked about finally creating a budget for myself on my weekly wishes… and I finally did it. AND, I’m livid.
In the past month of so, I’ve felt that things were a bit unnecessarily “tight” but I wasn’t quite sure why. I assumed that maybe I didn’t budget properly for my Cancun trip or that I paid some huge bill that I forgot about. What I failed to do was take a peak at my bank statements to see where I was spending my money.
And you know where it was alllllll going? Cabs, random shopping, breakfast + lunch at work and Seamless – but mostly cabs. I went from rarely spending $20 per week on cabs to about $100 each week in cab fare. Seriously!? Now when it’s late at night and I’m traveling in NYC, I opt for a cab for safety reasons. But I was taking cabs to and from work some days AND for late night traveling.
Please note that I said WAS above, since this is stopping immediately. As of tomorrow, I am starting a No-Spend November Challenge for myself.
When I crunched the numbers, I should be able to save an additional $600-$900 per month if I tighten up my budget and try to only spend on the essentials – in one month. Imagine what I could do if I did this permanently? I’m just thinking about how my savings could look – potential vacations, a better apartment, the amount of time it would take me to save for a down payment on a home… alllllllll of that.
I’m still reading The 21-Day Financial Fast by Michelle Singletary, and I’m going to start implementing many of her tips + tricks starting tomorrow (November 1st) and see how it goes. Now that I’ve snatched my finances, let’s chat about my favorite links from the week.Continue Reading