Money Goals 2.0

As I mentioned earlier this week, I’m moving today. This means I have to demolish the financial goal structure I literally just set for 2018, and rebuild. Le sigh. #firstworldprobs

After rereading last week’s Money Goals post, analyzing my current budget, and changing things around to fit the new expected expenses (plus adding plenty of wiggle room for the unexpected), this is what I’ve settled on for my 5-part challenge 2.0:

  1. 58-Day Spending Freeze
  2. Live on $2,000 each month for day-to-day expenses
  3. Use the cash envelope system
  4. Get one paycheck ahead
  5. Only purchase 20 items or less that cannot be used up, and only if I’m willing to give up an item I already own to create space for the new one

It looks largely the same, aside from a 28 day and $500 dollar difference. Let’s discuss.

30 58 Day Spending Freeze

As I mentioned, a spending freeze is when someone stops spending on anything that is not a life necessity for a specific amount of time. I originally intended to participate in a freeze for the last 30 days of January, but it will now run from January 2nd to February 28th. In addition to the previously mentioned reasons, I also need to get savings back on track after the move. This is going to take more than 30 days.

I hate saving money.

No really. I know that’s a weird thing to say, but it’s the truth. I’d much rather spend every cent on eating out and travelling the world, but that’s not a fiscally generally responsible way to do life. So off I go to save money. *insert eye roll here*

$1,500 $2,000 Per Month 

My new apartment is NICE. I dig it. But it also comes with extra expense. My rent checks will be increasing by $235 per month, and I’ll be paying for water now, whereas I only paid the electric bill at my former residence. I have no clue what my average utilities cost will be, but I can guarantee it’ll increase from the $50-85 I’ve been paying.

That said, I’ve reset the limit to my life spending from $1,500 to $2,000. This will give me that much needed wiggle room until costs are a little more set in stone. I do plan to decrease that as soon as I can do so confidently.

In the meantime, I plan to use the “extra” money to further my finance goals. I still plan hope to pay off $10,000+ in debt because (assuming bonuses and commissions come through as they have been) it looks like a possibility still. Time’ll tell.

Anyway, just having written this post is making me feel a lot more settled about the move and such. I’ve been sweating bullets contemplating all of this for the past week because I was so eager to minimize my expenditures. For real though, #firstworldprobs strikes again.

What are your money goals for 2018?

 

Relocating

Y’all, life is hilARious. Like slap your mama kinda funny.

You know how I mentioned on Tuesday that I’ll be moving in 2018 or 2019? Well, yeah. I’m actually moving this weekend. Mmhmm. You read that right.

My apartment has had… odor issues since I moved in (turns out it may actually be sewer gas coming from the building next door – which would mean I’ve been slowly getting poisoned for the last year or so – cheers!). They weren’t constant, but would come and go at the most inconvenient of times. Recently, the odors combined with fibro have been making me miserably ill. After the millionth attempt to get my landlord to correct the problem, they offered to let me out of my lease, reimburse me this month’s rent and refund my deposit, so that I can move.

Hallelujah.

ish.

I’m not gonna lie, I’m fairly excited about the new apartment. What I’m not excited about is the headache of moving when I’m at 50% health and the curve ball this will throw into my afore mentioned money goals. Gah. Life.

Trying to think of this as an adventure. ‘Cause that’s exactly what it is.

Since I’ll be moving on Friday, I decided that keeping the clutter around until January 1st is entirely pointless. Why would I move it to the new apartment, only to move it again a week later? Nah, I ain’t about that life. So this morning I dropped off an entire trunk full of donations and gave a very hearty “Merry Christmas!” as I drove away. It felt amazing. Especially since the moment was book-ended by doctor appointments that really had me in a mood.

Anyway.

I’ll have to review my goals and see what’s going to change. I know a couple right off the bat are my “keep it under $1,500” and “pay off $10,000.” They’re going to need some modifying. Hopefully not too much; I was dang excited about that biz.

My apartment is packed and everything hurts, but soon I’ll be thriving in my new home. It’s been a busy weekend.

How was yours?

 

Wardrobe Clear-Out (because It’s Overdue)

I’ve begun the edit of my wardrobe. I compiled a list of everything I own, everything I wear, and everything I feel confident when wearing. Unfortunately, that gave me an end result of the following:

IN MY CURRENT WARDROBE
Tops Skirts Dresses Outwear Shoes Other
Short Sleeve Shirts 5 Long 3 Long 2 Coats & Jackets 2 Boots 2 Robe 1
Long Sleeve Shirts 3 Short 4 Short 3 Vests 2 Booties 2 Scarves 2
3/4 Sleeve Shirts 1 Cardigans 9 Sneakers 1 Hats 4
Sweaters 3 Hoodies & Sweatshirts 3 Flats 1
Tanks 7 Sandals 1
Heels 2
Slippers 1
Total: 19 Total: 7 Total: 5 Total: 16 Total: 10 Total: 7
TOTAL (11/28/2017): 65

Now, for a lot of you, this may not be much. It might not even be on your radar to have 10 pairs of shoes, or a 5 skirts. But for me, this is a pretty big number – especially when a lot of the items making up that number are pieces that I never reach for or only wear because the pieces I actually like are all in the laundry bin.

If I take away those items, I’m left with:

WHAT I LOVE USING
Tops Skirts Dresses Outwear Shoes Other
Long Sleeve Shirts 2 Long 2 Short 3 Vests 1 Boots 1 Scarves 2
Short 1 Cardigans 3 Booties 2 Hats 1
Hoodies & Sweatshirts 2 Sneakers 1
Sandals 1
Total: 2 Total: 3 Total: 3 Total: 6 Total: 5 Total: 3
TOTAL (12/05/2017): 23

As you can see, I’m not left with much. A couple of outfits and then I’m out of luck. I am a minimalist, but that doesn’t mean I’m an extremist. I’d like to have more than 4 outfits to my name.

I’ve always loved the idea of a capsule wardrobe. For those unfamiliar with this, it’s a wardrobe compiled of a set of high-quality basics used year round. Those basics are then buffered by a few seasonal pieces that you swap out every couple of months (this is the morphed version of the original capsule as proposed by its inventor, Susie Faux). My one issue with this was the idea of swapping out pieces each season and storing the remainder. I hate storing clothes. Storage bins are clutter (believe me, I have enough of them to know). I prefer to have all clothing hanging up year round.

Which led me to a similar idea: the 333 Project is a challenge in which you use only 33 items of clothing for 3 months. Now, again, this project involves swapping pieces out at the end of 3 months- but the idea is to only swap pieces you realize you’re not entirely adoring or that are not getting enough use out. This seems much more suited to my idea of minimalism. Not to mention, I’ve always loved the idea of that beautifully rounded 33 number.

I’ve concluded that I will attempt a version of the two that will (hopefully) equip me to minimize my wardrobe and still allow me the freedom of more than 4 outfits. I plan to take Susie’s capsule wardrobe idea and fill it with 33 pieces (comprised of items for all seasons) in total.

I am using the pieces currently in my wardrobe as the basis for this project, but I still need to purchase several items. I also want to replace some of my existing pieces with better quality items that will last much longer (when you have fewer clothes, they tend to wear out a lot quicker). For the most part, my wardrobe will be primarily black – and I’m 105%  okay with that. I’m confident and comfortable in the colorless color, and I’m embracing that with vigor.

For the inventory lover in you (or is that nerdiness only something I can claim?), here’s a spreadsheet of what I plan to have in my wardrobe (please note that I’m not counting my gloves or purse as I only have one of each and don’t really consider them negotiable wardrobe items so much as needs):

IDEAL WARDROBE
Tops Skirts Dresses Outwear Shoes Other
Short Sleeve Shirts 1 Long 2 Short 2 Coats & Jackets 1 Boots 2 Scarves 2
Long Sleeve Shirts 3 Short 2 Vests 2 Booties 1 Hats 1
3/4 Sleeve Shirts 3 Midi 1 Cardigans 2 Sneakers 1
Sweaters 1 Hoodies & Sweatshirts 2 Flats 1
Blazers 1 Sandals 1
Heels 1
Total: 8 Total: 5 Total: 2 Total: 8 Total: 7 Total: 3
TOTAL: 34

And for those of you who prefer graphics, here’s an image of the entire wardrobe (minus the beanie which I didn’t feel like taking a picture of after all this collage work) all planned out (images are from Amazon – I do not own rights to any of them and will not receive any compensation for sharing them here):

UPDATE 12/12/17: I’ve already discovered that several of the pieces I had planned on won’t work out for my minimalist wardrobe due to fit or color issues. You can keep up with my wardrobe as it changes via my dedicated Pinterest board. Once it’s all set in stone, I’ll be sure to do an update post. 🙂

Have you ever attempted a capsule wardrobe or the 333 Project? What are your thoughts on minimalist wardrobes? I’d love to hear your thoughts in the comments below!

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