New year, new goals, right? That is what everyone and their mother is asking in January so I thought I would start planning my financial goals for 20119. Step 1, win the lottery. Step 2, if step 1 does not work, start budgeting. So here we are. Sitting down with paper and a pen with my credit card statement and bank account open so I can see how I can budget in 2019.
Overall, I don’t spend that much money but with most of my income going to rent and monthly bills like student loan and car insurance, I need to find ways to cut back other spending. During the summer, I had some wiggle room to play with when it came to shopping but around the fall is when my savings kinda dried up and I was living paycheck to paycheck. Yay – said no one ever. Moving and furniture expenses cost more than I was planning prior to the move and my income is comfortable, but doesn’t allow for any big spending.
My goal for 2019 is to be able to pay my rent and monthly bills as well as put money towards my credit card bill. I have allowed myself to just accept that I need to use my credit card on groceries, eating out and other purchases until my salary increases or I find a cheaper apartment. I am able to put a good amount of money towards my bill every month, but I hope to one day be able to put a lot more towards my statement every month.
Something I started to regularly review where my money goes each month. I made a list of where I shopped and how much I spent to see if I really needed those purchases or not. After doing some research, it became clear that a trip to Target was dangerous and it should be avoided! Homegoods and Marshalls were another frequent items on my credit card so I have stopped going there completely. Buying clothes was a frequent thing I did every month, but I have been pretty good at not buying anything in the last few months. By avoiding stores, I don’t have as much temptation to buy new things which are definitely helping with monthly spending. I do most of my shopping for essentials online at Target and will drive out to the suburbs to go food shopping because it is a lot cheaper than the city.
Eating out is something that I rarely do since moving to Philly which seems silly since moving to a city with a million restaurants to choose from! Luckily, I have a boyfriend who insists on picking up the check every time we do eat out but we still limit to eating out once a week depending on our schedules. We joke that I would starve if I didn’t have him around to feed me!
It takes some planning and keeping myself accountable, but I think I found a way to save money and also be able to enjoy life.