August was a great month for my finances. I made a little freelance income, got my pension transferred over, managed to do some travelling… and I didn’t go over budget! This month’s budget, on the other hand, is equal parts stressing me out and motivating me to save money wherever possible.
I knew September would be crazy, but the percentages of just how crazy it could be are a little scary. I guess that’s what happens when you go to three different cities and two different weddings, right? Anyway, there’s no point prolonging the inevitable – let’s just dive in.
Living Expenses – Budget: 60%
My regular living expenses (rent, insurance policies, gas, etc.) all look normal, but there are a few reasons why I may have to spend up to 60% of my income on this overarching category: weddings. I’m going to two weddings this month, for which I will need to buy/bring two gifts. I also still need one outfit to wear to them both, which needs to be purchased this week (and is on the approved shopping list), since the first one is on Saturday. Besides that, I also need to renew my car insurance before the 27th, so we’ll see if it goes down at all; it should, since I am no longer driving to work anymore (I gave up my desk at my coworking space last month), but I’ll keep you posted.
Travel – Budget: 35%
Holy jeez, travel expenses! This month, I’m spending 7 days in Toronto (I’m here right now until the 7th), then 4 days in Portland and 5 days in New Orleans. I’m so excited about each trip, but I’d be lying if I said I wasn’t worried about how expensive they would be. After seeing how much I spent on just food in Edmonton, I decided to grossly overestimate the cost of my trips to both Portland and New Orleans. I’d much rather try to pinch a few pennies and come home with leftover cash in my pocket, than come up with some small unattainable number and go over budget. I’d like to get this category of my budget down to 30%, but we’ll have to see what comes up when I’m in each city.
Savings – Budget: 5%
Finally, I am obviously not at all happy with this goal but, based on the numbers and information above, I don’t really see how I can save more than this. Now, in saying that, this is the reason I’m going to try and lower my costs elsewhere! I’m also hoping to earn some freelance income this month, simply so I can put it into savings. Once we move into October, my last three budgets of the year should see savings goals of 25-35%. I just need to get through this crazy month of travel and weddings, first…
Goals for this month:
- Read 2 books (I’m already almost done 1, so this should be easy)
- Workout 10x
- Remove 15+ items from home
- Soak up my time in Portland and New Orleans
- Do some extra freelance and put the cash directly into savings!
What do you have planned this month?