Progress Report Time

4

January 21, 2013 by myfabfico

In grade school I used to hate progress reports. It usually meant some sort of punishment until I turned my act around by report card time. My grades were usually good, but my progress reports almost always had comments about me talking too much. When I think about it, a child who talks too much is actually a pretty good sign.

Anyway.

I’ve been on the road to 750 for approximately two weeks now. I think its time to make a progress report. I will try my hardest to do progress reports bi-weekly. If I don’t I’m not holding myself accountable to more than myself & V. All in all I’ve had a few successes and a few missteps. I wont refer to them as failures because at the end of the day I am fairing better than I was last month and at least I am on my the right path.

Successes:

  • I’ve begun putting aside $100 each month towards an emergency savings account. After I receive my refund check from school, I will add an additional $1,000, and then continue to add 100 each month.
  • I did not visit Target once.
  • I’ve began planning my weekly menu based upon what is on sale, as opposed to what I want to cook. By doing this I was able to remain close to my $40 grocery store budget for the week. (I exceeded it by $8, usually I exceed it by $20+)
  • I set up a budget and spending plan.
  • I also began tracking my expenses by category to put my spending in perspective.
  • I did not spend a dime on breakfast out.
  • Using social media, I was able to acquire Photoshop CS6 for Free.
  • I paid my credit card down to the recommended 10% usage amount. After interest, I will be slightly about this, but I will continue to pay down the balance monthly.
  • I spoke to a financial advisor and will begin investing in mutual funds next month.

Missteps:

  • I bought an alcoholic beverage while out celebrating a friend’s birthday about a week ago. I try to justify it because it was a beer float, but…yeah. No.
  • I charged a $50 pet carrying case to my credit card (it has been paid off), after realizing that Zorie’s existing carrying case was sub par. I bought it on the Upper East Side and I know I overpaid for it, I was just so embarrassed at how flimsy Zorie’s was in comparison to the other’s carrying cases.
  • I ended up spending $35 at the Goodwill on home furnishings. Granted I got a brand new $40 shower curtain for $10 for my upcoming move, but I didn’t need the tealight candle holders or the ceramic oil burner that I bought.
  • I was doing good remaining under my $20 a week dine out budget until Saturday night. My boyfriend and I got in late from the office, and feeling guilty that he had paid for everything all day I spent $14 on food from the halal spot, exceeding my dine out budget by $12 last week.
  • I spent $35 on Forever 21 online. They had take an additional 50% off clearance. Granted I purchased 4 sweaters and 2 pairs of shoes for $35… I still am not supposed to be buying clothes.

Lessons Learned

  1. If I stay in and don’t make plans I save money. When I go out with friends etc I spend money. Even just going over to a friend’s house to watch the AFC championship game I ended up buying a 12 pack of beers that was not factored into my budget.
  2. Be prepared to spend unanticipated money when I take Zorie to the doctor. Although I prepaid for his Neutering at the Humane Society I still ended up spending another $70 on shots and test. Then you add the carrying case I ended up purchasing.
  3. Be prepared to snatch up good deals. I’m not talking about Groupons or Gilt sales. I acquired 4 buddy passes from my uncle this week. Cost me $50 for all 4. Now I can travel to anywhere in the world for just the cost of the tax.

Upcoming

My friends from California are visiting NYC for the first time and will be staying with me for about 5 days. My mom will arrive 3 days after they depart. I must resist the urge to splurge.

After two years of dating, my very significant other and I are getting an apartment together March 1st. We will try to furnish our apartment with as many second hand items possible.

School resumes this week. On Wednesdays I am in class from 5pm-9pm. This will most likely impact my eating out regimen.

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4 thoughts on “Progress Report Time

  1. victoria750 says:

    Tonya- I love how virtuous and honest you are with your spending! Hope I can get there one day lol.

  2. Megan Lottie says:

    Great post!!! LOVE this blog and you have inspired me to do the same with our finances. Keep it up girl!!!

  3. msayannaj says:

    Ok, I’m going to give this a try.
    I need help though… I live in LA… gas is sky high, I can sacrifice spending money when out and about — except for gas. Any suggestions?

    • myfabfico says:

      HI Ayanna! Sheesh its been so long since I lived in a city where gas really mattered to me. Well two things, there have to be Gas stations in certain areas that are cheaper than others. Fill up at those stations as much as possible. Another thing is consider cutting down on unnecessary trips. Limit yourself to going out certain nights a week and try to share rides with friends if you can 🙂

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