So, if you follow my Instagram stories, you may be disappointed I’m not covering the prettiest cocktails in Chicago today. That will come next week, promise, but, I forgot it was the first day of a new month, so I wanted to share my May goal setting plan and talk a bit about finances.
If you missed April’s goal planning post, go give it a read first. It explains how I differentiate between weekly goals and monthly goals and how I focus on one main intention each month.
May Goal Setting Plan
Okay, now that you’ve read that, I’ll share that May’s intention is financial health. Why are finances so tough to talk about? There’s this element of keeping up with the Jones that’s, frankly, silly. But I’m not immune. Last month I had a few too many expenses. Hello, new iPhone … and Watch … and Airpods, basically Apple took all my money.
With my upcoming surgery, it’s more important than ever that I’m spending wisely and setting aside some money each month to cover the cost. And while I was focused on my April goals of mind and body, I let the financial side slide a bit too much.
I’ve always tracked my expenses in my planner each day and set aside a big bucket for all my non-bill expenses. This month, I’m trying something new and definitely a lot stricter.
Enter Mint
I’ll start but saying this is in no way sponsored by Mint or an advertisement of any kind. I used Mint in the past – actually back when I was married and had two people’s spending to keep up with. When it became just me, I didn’t feel like it was necessary since I knew what I was buying on a day-to-day basis.
But I do think it helped me stay a bit more regimented than my simple tracking method – and I might be closer to some of my big financial goals if I were more focused. That’s not to say I’m cutting out all things fun – you know I’ll still be traveling and hunting down the latest fashions.
That’s the beauty of a budget, I can prioritize however I want. Here’s a look at my May breakdown:
Claire’s May Budget
Will it be hard to keep my entertainment expenses this low? Hell yes! Is this how a financial planner might advise? Or what “most people” are doing? Maybe not. I’m going to start with a budget that’s reasonable and attainable for me then we’ll move on to bigger picture stuff. 😉
Any great tips you have for saving money?
Regarding building savings… My favorite tip is that when money is tight, try overstate some of your basic living expenses in your budget – such as a gas fill-up. Budget for it to run $10 more than your average fill-up cost each time. That way, you account for any potential gas price inflation (which happens frequently!) AND if you still have that extra amount available at the end of the month after all of your other expenses – you’ve now got some savings created.
Yes! I always round up (plus some) when budgeting, but a good reminder!!