Hooray! I made my own day! In case you’ve actually been reading my blog (thanks to those that do), you’re probably sick of listening to me whine about money. Well, I was sick of whining about it too so I decided to take control and figure it the hell out.
I’m not going to share my beautifully mastered spreadsheet because it has our personal information and things on it but I’ll do my best to explain what I did.
I started with the little I have in savings right now and created a spreadsheet. On the spreadsheet, I included all of my paydays from now until 12-31-2016. (Yes, 2016). I also included paydays from the second job that I’m going to have for a few months during the first chunk of the New Year and an under-approximation of what my tax return could possibly be. I would rather under-assume then over-assume.
Each paycheck, I’m able to put some money into savings. I’ve been doing that for quite some time now but this last year, I’ve been taking just as much out as I’ve been putting in. Thankfully, this second job will give me the boost I need for the next calendar year.
As I said, I noted all of my paydays and inputted the realistic amount that I will transfer to savings each week/month. I made sure to to figure in life changes too. During the month of June, I won’t be putting anything in as we intend to move into a town-home. Moving is expensive. Renting U-Hauls, buying a new lamp, ect.. I figured in a rent increase around the same time so starting in June, I’ll be contributing half of what I normally had been.
I also semi-planned my year. This includes everything from birthdays and baby showers that I buy gifts for to first month’s rent and a deposit at our new place come summer. I also figured in my mom and I’s next big adventure, a couple of mini-trips for Channing and I and a handful of other things that I typically plan around holidays.
I know that this won’t cover everything that I’ll be doing in 2016. There might be concerts or comedy clubs to go to, a freak expenditure that may need attention, or more dental work than I took out for flex, ect. But based off of what I have now, what I will put in, what I know for sure I’ll withdraw, and all of the major expenses that I already know about — even after all that is said and done, I should have roughly 3 times as much in savings as I do now.
So, if this is going to work, why don’t I have that kind of money right now? Well, I haven’t had a second job since I was in my early 20’s so that is where the biggest boost will come. Every penny of that goes into savings. I also hadn’t planned for a spazo vet appointment to go totally wrong this year. We moved once in 2015 (May) but we had moved just 6 months prior to that (November 2014). Those 3 things are the main reasons I’ve been feeling so anxious about my finances.
I also want to mention that I’m not a money hoarder. Money doesn’t go with you when you die and I want so many things in life both materialistic and non. Having 3-4 times as much in savings than I do right at this moment will allow me to award myself with things in life. When I hit milestone weight-losses, I want to be able to comfortably take out a couple hundred to spend on new clothes. I want to have $500-$1000 as a safety in case my car breaks down. I want to have some money saved in case we get pregnant before we plan to.
By this time next year, I won’t literally have 3 times as much as I do right now because I can’t plan for the unexpected events but I will have gotten to do more than I did this year. This year, so many things had been put on hold because of things that needed to be paid for. Going into 2016, I’m going to make some sacrifices that I haven’t made in quite some time in order to fully enjoy the year. Instead of eating out 5-6 times a week, we’ll eat out 1-2 times. Instead of buying drinks for Friday and Saturday nights, I’ll buy for one or the other or just enough for twice a month. Instead of coming home after my 8-5 workday, I’ll be sacrificing my free time working a second job January – April.
Like I said in a previous post, I hate that my world has come down to live to work and work to live but that’s exactly why I’m doing this. I want my life to have meaning and I want to make memories and see so many things. Unfortunately, almost all of that comes with a cost. I’m hoping that it pays to take a couple little hits to be a part of the bigger picture in my own life.