Whitney's Budget Journal

Trying to limit spending in 2019 and documenting it for moral support and accountability

[88frostfromfire]

Here’s my November 15 pay!

I haven’t put anything into savings yet, partly because I know I am still going to be spending for Christmas. 

I did make a fairly large credit card payment, but it was from money I had already set aside for my Christmas shopping and for my subscription box. From the money I actually got paid today, only a very small part was used for a credit card payment.

I do think I will be saving some of what’s leftover here, but I haven’t decided yet how that will be.

I think it’s also worth talking about my “bills account,” since it’s been on my paycheque breakdown for a while now. I use it to temporarily store money that will be put toward bills. My credit card, Spotify, and quarterly subscription box are all paid automatically on my credit card. To avoid a surprise charge that I haven’t accounted for, on payday I set aside money into a separate online banking account. Then when the bill is charged to my credit card, I simply transfer the money. It has made a huge difference, because I’m taking my money right away when I get it and accounting for these reoccurring charges. Previously, I’d spend whatever was in my account, only to remember I also had an unaccounted for $60ish when my cell phone was charged. 

I have also cancelled my subscription box since it’s part of my low-buy for 2020. The December 2019 one will be my last one!

[88frostfromfire]

My 5 beauty purchases for the year

In August, with 5 months remaining in 2019, I told myself (and everyone else... it’s posted here) that I would only buy 5 more beauty products for the year. Everything else had to be purchased only when it replaced something.

Well... I then had a massive acne breakout (which is still happening), so I have been purchasing skincare items. 

However, as of November 1, I’ve now made my 5 non-essential, non-replacement purchases for the year, and they are:

Coty Airspun loose face powder This was a planned purchase, and was something I wanted for a while. I’ve never been able to find it in Canada so when I went to the US in late August, I got it then.

La Neige Lip Glowy Balm in pear This was a total impulse purchase and although I do like the product, I somewhat regret the purchase itself.

Colourpop Berry Me in Lipsticks lipstick This was the collab that Safiya Nygaard did with Colourpop, and it’s the first purchase I’ve ever made from Colourpop. I don’t own a lot of lipsticks and I really like the colour.

Locally made lip balm A local company makes bath and body products, which I love (it’s where I get my shampoo and conditioner), and when I smelled this lip balm I had to get it. It smells like earl grey tea.

Jeffree Star x Shane Dawson Mini Controversy palette This is the first item from Jeffree Star Cosmetics that I’ve purchased. After watching Shane’s series about the making of this palette, it was really hard not to get it. The internet was buzzing with the hype and the site crashed when it launched yesterday. I hadn’t been planning to get it, but when later last night they announced that the website issues meant this item hadn’t actually sold out yet, I jumped at the chance and ordered it. 

So that’s it. Since I’ve decided to do a full replacement-only no buy next year, these are my final makeup purchases until 2021 (unless I run out of something). 

[88frostfromfire]

Here’s my pay from October 31. 

A couple points:

I haven’t been doing very well at using my credit card. I need to improve that. 

I decided to contribute a large amount (of what was left in my account) to my long-term savings.

These 2 things together means I don’t have a lot of money left over in my account for spending over the next 2 weeks. So...

NO BUY NOVEMBER now starts! (It’s November 2... but oh well!)

[88frostfromfire]

Yay! I got paid on September 30 and saved 20%!!

[88frostfromfire]

Here's my August spending.

It's definitely higher than normal.

I went to Minneapolis for Labour Day weekend so I did some shopping (though much less than I would have in the past!!).

Also the "others" category was my school fees as well as 2 ear piercings.

I would like to talk about what it's like to try to stop shopping. Maybe that'll be my next post.

I didn't track my mid-September paycheque because it was a bit difficult to track. Overall, I saved only $100 because I had to (unfortunately) pay off my credit card as well as use some of my short term savings. It wasn't much, but my course textbook was $200 so that was unexpected!

[88frostfromfire]

Beauty/Make-up No Buy

I decided to implement a replacement-only no-buy again. I’d attempted this at the beginning of the year but didn’t do so well. I found that once I broke the rules, it was easier to just slip into old habits and stop caring about the whole thing.

Replacement-only no-buy means that I can only purchase a makeup/beauty/skincare/haircare, etc. item if I’ve completely run out of that type of product. My mascara is about to run out so I will purchase a new one. However, if I see a lipstick or blush that I really want, I can’t buy it because I already have perfectly fine lipsticks and blushes. 

However, in order to allow myself some structured wiggle room, I decided to allow 5 exceptions (1 for each month remaining in 2019). If I purchase an average of 1 new beauty product per month, I think that’s a fair amount.

This won’t create too much waste or unnecessary products. It forces me to be more mindful and intentional in my purchases. I can’t just buy something because it’s cute or new, but it does still allow me to try out a handful of new products if I do come across something really special and want to buy it.

I’m also going to keep a log of the 5 products and will write about them when I do get them.

Whitney Hedrick on YouTube posted this video, in which she tallied up the value of her entire makeup collection. I could tell she has much more makeup than me, but I decided to total up my own makeup collection. I am somewhat embarrassed to say the amount - but it’s over $1200! I created a spreadsheet and decided to keep it updated. My goal is to have a more minimal makeup collection, partly because of my budget and also because I’m trying to create less plastic waste, and consuming less is a big part of that.

I will be interested to see how the list changes and updates over time!

[88frostfromfire]

Another successful payday!!

My long-term savings is growing and it feels good.

I also feel super comfortable paying off my credit card right away and not spending more than that. I’ve been making very small credit card payments on payday, but it’s not even necessarily out of that payday’s money, since my bank account never goes to $0 before payday. Overall, this has been very successful.

I found that my $150 per month shopping was good for tracking my money and shopping, but it had too many grey areas since it didn’t limit other areas of my spending. I could only spend $150 on things like clothes and makeup, but I could spend as much as I wanted on anything else, which didn’t place any limits on credit card spending.

The “pay yourself first” method has been much more effective. Rather than paying off my credit card every payday, now I add to my savings. Whatever is leftover is money I can spend, but it guarantees that I’ve already saved a fair amount before I even begin dipping into whatever was left over. I’ve found doing this also means that rather than my money automatically going toward paying off what I’ve already spent (and therefore must pay off), the leftover money is just hypothetical purchases (and therefore doesn’t have to be allocated anywhere in particular), and is easier to see how much I have left over and contribute even more to savings.

I also think re-implementing my replacement-only no-buy will help reduce spending, and getting rid of the “wanting to want” feeling.

In my next post I plan to talk more about my beauty shopping.

[88frostfromfire]

Here’s where my paycheque for July 31 went.

I am really happy with how I’ve been able to save money lately. I like having a short-term savings, which means I can set aside money for bigger purchases or events, while still contributing to long-term savings. 

As I mentioned before, I also have been able to limit my spending so that I am not spending next payday’s money before I even get it. I used to pay a sizable amount of each paycheque on my credit card. Though I’ve only ever incurred interest on my credit once in 10+ years of having a credit card, I still felt that credit card spending was a problem, because it was easy to spend money that wasn’t mine. Then, having to pay off my credit card every payday meant that I didn’t have much left over to save, and it was a frustrating and discouraging cycle.

But now I save first and can spend what I have left. Since I made that decision, I’ve only had minimal payments on my credit card by payday.

[88frostfromfire]

This is how I spent my money in July.

It's definitely worth noting that in July I went on a trip, and had money set aside already for the trip. So not all of this came out of my July income. Some of the expenses listed here (especially food) was spent during that trip.

However, since I stopped my $150/month shopping budget, I've been happy with how I've been doing. I've been able to keep track of how much money I have left on my debit card and don't run a balance on my credit card.

[88frostfromfire]

No-Buy List

In my last post, I talked about the no-buy I’ve started again for the remainder of 2019.

The only way I can buy any of the items listed below is if I completely run out of it, or if I choose for it to be one of five exceptions I’ve allowed.

Haircare: Shampoo, conditioner, detangler, hair oil, dry shampoo, mousse, hairspray, etc.

Makeup: Foundation, concealer, powder, blush, bronzer, highlighter, eyeshadow, eyeliner, mascara, lipstick, lipgloss, lip balm, etc.

Body care: Soap, body wash, body scrub, lotion, deodorant, etc.

Skincare: Face wash, face scrub, toner, serum, moisturizer, masks, spot treatment, sunscreen, makeup remover, etc.

[88frostfromfire]

I need to restart my low-buy: August-December 2019

I had hoped to do a replacement-only no buy early this year and it didn't really happen.

Honestly, I've tried to be conscious about what type of makeup I've been buying but I haven't stuck to my no-buy. Sometimes I feel like it's easy to get carried away.

So I'm starting it now until the end of the year.

This time with simpler rules:

Replacement-only for skincare, haircare, body care, and makeup. This means no stocking up, no buying new things just to try or because they sparked my interest.

There are 5 exceptions: There are 5 more months left in 2019, so I'm letting myself purchase up to 5 new things that don't have to be replacements.

I am hoping the exception rule will help me not spiral out of control, because it allows me to buy something new if I really want it, without cancelling the no-buy entirely or feeling like there's no point in continuing.

I'm going to do this starting immediately until the end of 2019, which is 5 full months.

[88frostfromfire]

I need to restart my low-buy: August-December 2019

I had hoped to do a replacement-only no buy early this year and it didn't really happen.

Honestly, I've tried to be conscious about what type of makeup I've been buying but I haven't stuck to my no-buy. Sometimes I feel like it's easy to get carried away.

So I'm starting it now until the end of the year.

This time with simpler rules:

Replacement-only for skincare, haircare, body care, and makeup. This means no stocking up, no buying new things just to try or because they sparked my interest.

There are 5 exceptions: There are 5 more months left in 2019, so I'm letting myself purchase up to 5 new things that don't have to be replacements.

I am hoping the exception rule will help me not spiral out of control, because it allows me to buy something new if I really want it, without cancelling the no-buy entirely or feeling like there's no point in continuing.

I'm going to do this starting immediately until the end of 2019, which is 5 full months.

[88frostfromfire]

No cheque tracker for July 15

I decided not to post my cheque tracker for July 15 because it was too confusing!

I went to Vancouver from July 11-15. I then got paid on July 15, so the credit card payment I made was a big combination of my last paycheque, the money I had set aside in advance for the trip, and a $113 partial refund I had after the laptop I purchased last month went on sale.

But here’s the takeaway: After my trip and payday, I paid off my credit card and saved $275. 

YES!!!

[88frostfromfire]

Wanting to Want, part 2

I previously talked about wanting to shop for certain things vs. needing to shop for other things. When I purchase jeans (of which I only own 1 pair), or medicine (which I never feel a need to stock up on), I don't feel a sense of urgency. I feel secure when I have what I need, but that's it. If I like the way the jeans fit, I don’t go out looking for a new pair to add to my wardrobe.

But when I buy stuff that I want, it's different. It isn't just checking off an item on a grocery list. Thinking to myself that I want a new lipstick is different than knowing that I need milk next time I buy groceries. But I realize the wanting feeling isn't just that I want a lipstick. It's that I want the lipstick. That explains why I can throw out 10 lipsticks, and yet the next month still browse the Sephora website hoping I see a new lipstick that I want. It isn't just about buying a lipstick. If it were, then I'd just go to the drugstore or WalMart, or even the dollar store, and look to buy the largest amount of the cheapest lipsticks. But that's not what I want. I want the best, newest, most unique lipstick, with cute packaging in the perfect shade. That's why even when I throw away half of my lipstick collection, I still want a new one, because those ones weren't good. Those ones were ones I already had and knew I didn't like. 

I want one that makes me as excited as I was when I bought the ones I didn't throw away. So... why don’t I just be happy with the ones I do have? And stop buying new ones? That’s all I have to do. Is that possible?

The other way to potentially shift my way of thinking is to just NOT buy new makeup, regardless of how badly I want to. I think that needs to be what I do, in order to completely shift my way of thinking.

[88frostfromfire]

This is how I spent my disposable income in June.

I realized that tracking where every single dollar goes isn't the best route for me. It got too complicated because 65% of all my income goes toward my joint accounts with my husband, and because tracking money into and out of my savings accounts was sort of counting it twice.

So this is how I decided to track it.

Every payday, I keep a record of where my paycheck goes. That includes moving money into short-term and long-term savings, as well as money I set aside for monthly bills.

So this breakdown is what I did with the rest of the money.

Unfortunately, I had 2 sort of surprise charges: My credit card annual fee (in the "bills" category) and my quarterly subscription box (in the "shopping" category). I also have some purchases that were for my etsy shop. The rest are all things within my control (the remainder of the shopping category, entertainment, and food/snacks).

[88frostfromfire]

I got paid today!!

Though I did have to pay my credit card off, it was for the purchase of a laptop, so I used my savings for it and didn’t include any of that here, which is a breakdown of my paycheque only. There aren’t a lot of things I’d feel ok using my savings for now, but I think a computer purchase is justified.

Other than the money I move into the joint accounts with my husband, most of my paycheque today went toward short-term savings, which is for my trip to Vancouver in 2 weeks. This leaves only a little left over for spending money, but I purposely dug into my spending money to contribute to the savings for my trip. I would rather spend the money in Vancouver than spend it all now.

I will talk about it more later, but I’ve been planning the budget for my trip for travel costs, food, snacks, activities, and shopping. 

I currently have enough saved up that if I go according to my budget, I shouldn’t have to pay anything on my credit card on the following payday. However, if I do slightly overspend, the last day of my trip is actually payday, and by then I would be able to pay off the trip entirely, either with my spending money for that period or with the amount that I would have transferred to short-term savings.

More on the trip budget later!

[88frostfromfire]

Woo hoo!

Another successful paycheque, but not a lot of spending money left over.

I am trying something new this time though.

This month I was annoyed because I had an unexpected charge (my quarterly subscription box). That is the Visa payment I made. So to combat that, I’ve decided to move a small amount into a “bills” account each payday. 

Also, as was my new budget plan that I made a few weeks ago, I also have started moving the amount of my 2 monthly bills (Spotify and my cell phone) into the bills account. Both automatically charge on to my credit card. But now, I already have the money set aside when they’re due. In the past, my cell phone bill would creep up on me and take a bite out of my spending money whenever I had to pay it off. Or I’d pay it the next payday, which was annoying.

Now I just have to control my spending since I don’t have a ton of spending money left. BUT... I managed to save almost 20% so that’s great :)