It’s only May 4th and already I’ve spent way too much this month. Some of it is planned expenditures, some of it unplanned, but regardless, when I look at how much money I’ll have at the end of the month after paying for the rest of my estimated expenses, I’m at -$222.17.
So what I have bought thus far? Here’s a breakdown:
- Haircut + Products: $147
- Jeans and a scarf from Urban Outfitters: $95.46 ($40 of this came out of my weekly cash)
- The Next Day Graphic Novella: $17
- Going to the movies to see Water for Elephants: $12.75
- Mother’s Day card: $5.09
Grand total: $237.30 (not including the $40 that came out of my weekly cash allowance). This represents six days of spending (I always start my next month’s balance sheet when I am paid, which is the 28th of each month). I didn’t include any food spending, since I split that with BF and it’s a normal expense we have to incur. I also didn’t include the other $60 I spent in cash (which includes going out to eat twice). My cash allowance is $100/week and I don’t track that too closely, since it’s for fun stuff. But the whole point is to try to limit the fun stuff to $100/week, which, as you can see from above, I clearly have not done this month.
Obviously the jeans and the haircut are the big items. The jeans were an impulse buy, unfortunately. I did need new jeans, as my old ones have totally lost their shape (and I hemmed them too short so they look kind of silly). But I wanted to save up for them before making the purchase. While at the store I had this big debate on whether I should buy the dark denim or lighter denim jeans, and my sister tried to convince me to get both. Not long ago I probably would have listened, but I couldn’t do that now – I knew the guilt I would feel would totally ruin the purchase. So I went with one pair, the lighter ones. I really like them, but still. I should have saved for them.
The haircut was planned, but the product I bought was not. I thought I had enough shampoo and conditioner to last me a while longer but I decided to purchase more, since the bottles are closer to empty than full, and this salon is the only place that sells the brand I like and their location is a bit out of my way. I have really curly hair and the $27 shampoo and $27 conditioner does make a difference, so I buy it. I know, excessive. Curly hair is hard to manage so I need all the help I can get.
On top of this, I have a ton of planned expenses coming up, like $100 on birthday outings, $50 for a wedding shower gift, $100 for softball, $20 in HostGator fees, and $75 for my license renewal. And I don’t even want to think about the $400 I have to spend on wedding gifts in June.
I probably shouldn’t have put $400 into savings on May 1. I should have kept some of that aside for the above expenses. But now that it’s done, I don’t want to take it out, so I’ll just have to make the month work. It might mean putting some of the planned expenses on credit card and paying them off in June, when the bill comes in. I know it’s avoiding the inevitable but next month I can adjust the amount I transfer to savings accordingly. I’m also going to request that my overtime hours (almost 40) be paid out on my next paycheque, so that will help too. I should net an extra $600-$700.
I know that stuff will come up that impacts my budget. I really need to have a miscellaneous line in my budget to include some of these expenses. I also need to work on planning better in general, and not spending all of my money at the beginning of the month. This totally stresses me out until I get paid again. In the past I probably would have overspent again when I get my next paycheque, but now that I’m really trying to watch my spending, I’m going to make sure this doesn’t happen.
This means that I have $280 left to spend on entertainment/coffee/restaurants/miscellaneous etc until June. It sounds like a lot but given how much I eat at restaurants, it’ll probably just get me through until then.
Oh, and my Mac Studio Fix compact broke. That’s $30 to replace. I’ll just have to use the bits and pieces that are left as best I can.
How do you handle overspending?