So I was deciding for a while what I should call this post. And, I figured I would call it what it is. That is, at least for October 2017, so far, I have too much month at the end of the money. I get paid twice a month, and I won’t get paid for another 4-5 days. I’ve already run out of money to spend until my next paycheck. Consequently, I have to rely on my credit cards to buy food and make ends meet. Ouch! The problem is wholly my own, so let’s look at the source of the problem.
Outside my mortgage payment on my house (which I receive rental income from), my highest expense for the month is on food. I literally eat out everyday. I should do a rough calculation but I’m fairly certain I spend $20 to $30 a day on food (or more). That’s totally unacceptable. My food budget is way out of control. What’s interesting is that all my other spending are ok and I don’t feel they are out of whack. However, with my food budget (or lack thereof really), there’s definitely room for improvement.
I know what the solution is. Simply start buying groceries and start cooking my own meal. But call me lazy or stupid, but I just can’t bring myself to doing either. That being said, I’m going to have to start small, and make progress slowly. Something has to change because the current status quo is clearly not working.
Well, I’m going to do something a bit unusual. I’m going to post to a YouTube song that capitulates how I’m feeling right now. Hopefully this works.
Just in case, here is the link to There’s Too Much Month At The End Of The Money by Marty Stuart.
The solution is quite simple. I need to spend less on food. Although I track my expenses, I don’t really follow a strict budget. I’m not sure I even follow a loose budget. But I definitely don’t follow a strict budget. I spend money based on Ramit Sethi’s principle on Conscious Spending. However, I also need to ensure that the amount of money I choose to spend lasts until my next paycheck.
Part of my problem is that I have an aggressive savings plan because I aim to max out both my 401K and IRA while maintaining about an $800 monthly contribution to my Dividend Portfolio. None of that includes the automatic and random savings that occurs using apps such as Digit or Acorns. Neither does it include other savings not routinely tracked on this site such as the occasional deposit to apps such as Robinhood (which no deposit has been made in recent months), or to my cryptocurrency account at Coinbase as documented in my post about digital currencies, or to my emergency fund. Plus, I am still trying to pay off my student loans (currently behind on this goal). Sufficed to say, I am stretched very thing. Interestingly, I initially wanted this post to be about my savings rate, but I’m still too lazy to do the math. I’ll save that calculation for another day.
I didn’t want this to be a long post. Do you find yourself with too much month at the end of the money? Do you follow a strict budget? Let me know what you think by commenting below.