May has come and gone, and here is my fifth update of my monthly spending, saving, and debt repayment. In 2018, a personal goal was to break down my monthly spending and share it on the blog. Even though I was tracking my spending in 2017, I didn’t pay all that much attention at the month’s end to see what I had actually spent on my variable expenses like entertainment or food. These diaries are an effort to be more cognizant and really check in with my numbers at the end of the month.
So let’s get right into it. Here are my numbers for savings and debt repayment this month:
Back to normal! The last two months have been pretty wild in terms of saving and debt repayment, with a 3-paycheque month and a tax return in March and April, respectively. My income for the month of May has returned more or less to normal, but I did still have some respectable side hustle income coming in this month.
Most of my other savings right now is being directed toward my moving fund. With less than a month to go, I am trying to funnel as many extra dollars into a dedicated savings account so I don’t have to dip into my emergency fund during this move.
And now for my May spending:
|Food||$806||$504||Oh my. I have no words. I treated some VIPs to some pretty pricey meals this month and it was totally worth it, but this grand total still stings.|
|Car||$186||$332||Car costs went back to normal again – this is really just the cost of my parking spot and a couple tanks of gas.|
|Health||$213||$233||Gym, therapy, massage|
|Insurance||$159||$159||Car, disability, tenant|
|Entertainment||$368||$227||Baseball tickets, a concert ticket, and lots of nights out for birthdays.|
|Vacation Fund/Travel||$100||$338||This is to cover my portion of an upcoming cottage weekend.|
|Gifts||$129||$55||See earlier point on entertainment. Why is everyone born in May?!|
|Cell Phone||$73||$57||I had a $15/mo credit toward my phone bill that lapsed last month.|
|Laundry & Dry Cleaning||$10||$10|
|Miscellaneous||$274||$83||A new laptop case, some sports equipment, postage, etc.|
|Clothing||$259||$179||New swimsuits and a new pair of jeans to replace a pair that finally ripped one too many times.|
|Uber/Taxi||$28||$56||Back to normal. A couple of these were on a birthday night and didn’t really use Uber much for the rest of the month.|
|Hair/Spa||$0||$60||A category I can usually rely on to be 0!|
I won’t go into a detailed breakdown of the different categories this month – except food if you’re curious ($346 on groceries and $460 on restaurants – it’s clear where the problem lies!).
Even though there was a lot of spending this month, it was all on things I felt good about. I bought a brand new computer and was able to do so entirely with my savings. I love treating my loved ones to meals and gifts on their birthdays or other special occasions. And with an upcoming move, it’s more important to me than ever to fit in lots of weekend trips to pack in quality time with friends and family.
One of the best things I’ve noticed from tracking my spending and documenting it in these diaries is that I do not often regret purchases I make – at least not anymore. And that’s a great feeling to be able to look back at the month and know that everything I bought is something I would go back and spend on again! Yes, I spent a lot, but I can afford to and I am still saving for my future and shorter-term goals like my BIG MOVE!
That being said, I am still looking forward to some of these numbers returning to normal once life has settled down again. Hint: that probably won’t be June, so be sure to tune in for the next edition!
Now we are really and truly almost halfway through 2018! How are you all doing with tracking your spending and/or your budget? What areas do you ace and what do you continue to struggle with month after month? Let’s discuss in the comments!