In one of my very first posts (shouldn’t be too hard to find, considering I only have 7 posts in total), I talked about how I was going to start budgeting. So, that was back in March…I think. Back when I was optimistic and looking forward to taking on this new challenge. Unfortunately my motivation only lasted a couple weeks, and work got busy, and life happened, and really…how important is keeping a budget anyway?? Well, now that I am back from a week’s vacation and broke until my next paycheck, I’m realizing that I should really get back into the budgeting swing.
A couple things I learned from my first, albeit brief, time around:
1. I really do become more aware of my spending when I’m entering it into a spreadsheet every day.
2. There will always be unexpected expenses that pop up and I can’t let myself get frustrated by them.
3. I could definitely put more into savings every month.
4. I spend way too much money eating out, drinking out, and socializing.
Now let’s focus on that last one. I’ve noticed that aside from the occasional new piece of clothing or Kindle book, those social activities are where most of my monthly disposable income goes. The downside to this is that I spend so much money on these activities and they provide a couple hours of entertainment but really nothing else to show for it. I’ll admit, I love trying new foods and drinks, but do I really need to spend $30 on an average Friday night happy hour at the same places with the same people?
I think in this next phase of budgeting, I will need to incorporate some journaling of my spending habits. The focus needs to be on how I feel after I spend and was it worth it. I will think about how I could spend less money next time while still maintaining the same quality of life and social interactions that I love. It really just boils down to me being smarter in these situations and thinking about the consequences and benefits. Do I really need to spend $20 on three beers (ah…DC prices…), when I could just have one beer and pocket that other $13 for…umm…well something that’s not beer.
Underemployed and Dreaming 