Monthly Expenses

To continue on with the fact that I want to budget out every cent I am spending in April, I decided to see exactly where my money went the last 30 days.  Again, to see if there is any category that I can cut down on.

I have always found it interesting to see how people allocate money. I understand everyone has a different situation, but that is what makes it interesting.  This did make me realize I have to spend less on random shopping such as new clothes and little trinkets. As well, I bought way more fast food than I wanted too this past month.  On the bright side though, I still spent way less on coffee than normal.   March is also a huge birthday month for me.  It seems that a lot of people close to me have their birthday in or around this time, causing a major hit to my bank account.

Lets hope I can increase my savings and cut down the fast food and shopping categories for next month.  Yet, I think I am doing pretty well cutting down my disposable expenses,  which makes me realize I need to start finding ways to increase my income. Hum....

Where in the world did my money go?

You know that time when you put your mind to something, then you take a few steps back? Yeah, that has been March for me.  Can't say this has been the best month for putting my frugal ways to the test. But I suppose you need to fail to learn right?

Definitely made some bigger purchases this month that were wants and not needs. I've noticed that my  perception of those two extremes is still flawed. I suppose I didn't need that pair of heels, that picture frame... and mind draws a blank. Clearly, there's my problem. I don't even remember everything that I have purchased this month. Because of that depressing revelation, I decided that for the month of April, I am writing down every single purchase that I make, no matter how small.

I'm hoping that this tracking system will allow me to see where my money is going, and the areas I need to cut down. I already corrected my coffee problem, and you'd be happy to know I have only purchased a coffee once over the last two weeks. I'm darn proud of myself for that, definitely a step in the right direction.

So, starting April 1st, lets find out where all my money is going, because I evidently can't be trusted to keep mental notes.  Fingers crossed!... Maybe I should start practicing in March.

The coffee expense

Ever since college, I have been an avid coffee drinker.  Having at least one cup a day, give or take. Now I know there are millions of other people out there who have the same addiction that I do. We are surrounded cafes, coffee shops and even Starbucks in our local grocery stores, which I have definitely been a customer at.

Because of my love for coffee, I decided to see how this expense is affecting my budget and how much I'm losing from my goal of being a millionaire.

During college, I definitely was a Starbucks girl. I rationalized in my head everyday that a $5 latte is totally normal and that I could afford it. Well, nothing like a cup of coffee slapping you in the face to realize that is ridiculous. Since then, I have pretty much broken up with Starbucks and am now an avid Tim Hortons fan. Which my wallet is happy with, but I tend to go overboard.

I'd say I go to Tims and get a medium double double about 3 times a week, having coffee at work the other days.  So...

$1.64 (which I think is what I pay every time) x 156 coffees in a year = $255.84

I'm actually shocked with that number.  For some reason I thought it would be more.  Regardless, that is $255.84 that could be going into savings.  So, because I own a Keurig coffee machine, I wanted to price out what it would cost per year if I used strictly that and never bought coffee at Tims again.

The kind of Keurig K Cups I normally get are $13 for a box of 18 on average, which means each cup of coffee costs me $0.72.

$0.72 x 156 coffees in a year = $112.32

That is much more reasonable. Telling me that obviously I don't need to waste time going to Tim Hortons, as much as I LOVE roll up the rim right now... haha! Not to mention the gas that I'm using to get there, when I can just make coffee in the comfort of my own home.

I could be saving $143.52 a year from cutting out Tim Hortons! Now don't shake your head, I know that doesn't seem like a lot, but any bit counts. Especially with the goal that I have!

So coffee from home it is! I really hope I can stick to this actually, it will be tough, but if anyone see's me with a Tims in my hand, feel free to get mad at me! I'm sure there will be a few exceptions from the rule, but cutting the majority out will definitely help in my journey. Seems like a positive to me :)

Becoming minimalist

Becoming minimalist is a fairly new concept to me.  I have always heard it, but I never fully understood what it meant, which may sound silly, but judge not my fellow readers! To me that just meant being organized and not having a lot of stuff.  Now although that is correct, I always considered myself to have those qualities. Yet, who am I kidding?! I'm far from minimalist, but I would slowly like to get there.

The topic of minimalism definitely relates to my drive to me a millionaire before I'm 30.  Cutting down on useless products and stuff will help keep me organized as well as keep my life on track in terms of my spending. I don't want to buy things that I don't use or that just take up pointless space in my apartment.

I read somewhere that 80% of our activities are completed with only 20% of our things! Now I'm sure those numbers aren't set in stone, it depends on the person, but I feel like that statement has definite validity.  

Let's back track a little though on how my life is now.  I've always considered myself to be average or above average in the 'clean & tidy' category.  My apartment is pretty much always clean and organized, but I have little areas that are cluttered and I am running out of room for my stuff.  Which in my mind, isn't a reason to get a bigger place, it means I have some major spring cleaning and organizing to do.  

Do I really need 22 bottles of lotion? no.

Do I need 136 different pens and pencils? no. (I do have an obsession with office supplies though, specifically pens! But that's a post for another day!)

Do I need old magazines and old text books? no.

Do I need a closet full of drawer organizers and boxes when they aren't being used? no.

These are all areas that I need to work on, and hopefully start to organize and whittle down to only what I need, not what I want or what's on sale on large quantities, *cough* body lotion.  That way I can efficiently function in daily life without getting lost in a clutter abyss.

Is anyone else working towards becoming minimalist?