Hello again! I was inspired to do this post because well honestly I was in bed last night just staring at the ceiling thinking about how much money I spend on pointless shit. Not sure if this habit has a name but I am going to call it “excessive spending”. This will be tried out for the month of June and see how it goes so that I can make adjustments where I see necessary. Also please note, this is not a post on “how to stop excessive spending” !!
The definition well my definition of excessive spending is when I spend money because…
- I feel like I truly need something but I really don’t
- A desire to feel better aka retail therapy
- I want the latest and greatest
Also, I should start out by saying that no I am not bipolar. The only reason why I mention this is because many people who are bipolar also are excessive spenders. I have talked about this with my therapist many times before. Basically, I excessively spend because that is what I am familiar with. After my mom died and my grandfather gained custody of me he was in control of my “finances”. He wasn’t familiar with raising a teenager so to make me feel better he would give me money. I wouldn’t consider myself spoiled because this was my money that he was giving me… eh, I don’t need to justify myself.
When I was a teenager I would try to deal with my emotions via retail therapy. This was a terrible way to cope with my emotions. Anyway, this isn’t about what I have done wrong in the past, I really just want to break a cycle. Granted, I am not nearly as bad at excessive spending as I used to be but I definitely have a lot to work on. I want to work towards living below my means. For anyone who knows me knows that this will definitely be challenging… I love to go on trips, I love designer, I love nice things – I really am coming off as an asshole, aren’t I?? Haha… I am instantly regretting this post because I sound so spoiled… important to know, I am not rich, I would consider myself lower middle class so I think it’s really important to kick this continuous cycle of excessive spending.
I guess to do this I need to think about a budget? Ok… this is what I am going to stick to…
- Rent ($1325)
- Car Payment ($345) – Also, word of advice, you do not need a car with the top trim package – wish I could go back and get the basic package
- Utilities ($100-120) – This typically ranges and probably might be under $100, but obviously I am going to pay my utilities regardless of the price
- Internet ($70)
- Phone Bill ($140) – Another word of advice, fuck Verizon for being so expensive 🙂
- Groceries ($120) – Because it’s just me for the most part, I really don’t spend too much on groceries thankfully
- Allowance ($80) – Lol, am I too old to call this an allowance and if it is my own money is it even an allowance??? Ok, so this $80 dollars I am going to take out in cash so I am certain I don’t overspend. This money is set to the side to use for whatever I want basically, movies, coffee, a night out.
I guess that is really all I need to think about for my budget…? I am looking at this already and am not feeling too wonderful about it but, it must (should) be done :,)
My boyfriend thankfully is a very frugal person and does well with resisting so I am sure if I tell him that I am cutting excessive spending for the month then any time I want to purchase something he will probably nag me about it 🙂
Ok… so, I guess that is all for this post… ugh this feels so strange. I have never actually set a budget for myself – yes I am 22 years old and that probably sounds super terrible but to my defense, I pay all of my bills on time and in full and the only debt I have is college debt. There will definitely be another post halfway through the month so that I hold myself accountable.
Thank you again for keeping up with kayl!! Xoxo
“Patience, persistence, and perspiration make an unbeatable combination for success” -Napoleon Hill