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?