progress on the money-saving front

At the beginning of July. I began my new money-saving habit.  Check out the July post for more details:

a young writer's journey: New Money

I am happy to report that I met my savings goals for the month of July. I deposited half of my July pay into my savings account tonight and it felt amazing to pay myself! Whew. 

While I managed to achieve my savings goal and pay all of my living expenses, I did not succeed in managing my "spend plan" as originally outlined. My "spend plan" consisted of various buckets of money set aside for clothing, toiletries, gas, fun, educational opportunities, etc. My initial idea was to allot a set amount of money to these categories each month. This way I could carry over any money I didn't use and have a buffer. This did not happen. Most of the money allotted for each of these categories was spent on my hair, a wedding gift and a dentist bill.

As unexpected expenses will always show up, I will need to remain flexible with a portion of my money. My goal for September, is to have a carry forward for unexpected expenses since I will receive three pay checks that month.

Besides, my budget for the month of August is already accounted for. :) So much for micro-managing my money.......

I thought it would be most difficult for me was to cut back on my food spending, however due to illness this month, there was a week in July that I did not eat/ drink out. :/ Getting sick also relieved me of my daily coffee habit, at least for the time being.....

Also, just knowing I had a limit on how much I could spend on food, forced me to be more conscious, both out, and at the grocery store.

Tip of the Day: Pay yourself each month!