We are almost midway through the month. Time really flies by when you are also trying to drag yourself through your exams and a ton of work. Still, I figured I wanted to check in and say hi. I won’t be making a lot of updates, but money-wise, things are actually going well when it comes to spending, so I might just try to expand my efforts a little here and keep going after the month has ended.
Therefore, I wanted to write out my short-term goals and reasons for taking this challenge to lower my spending:
First of all, everyone is very motivated to improve their lives in January, so I am just jumping on the same bandwagon to utilise it. I want a fresh restart and detox my spending. I have a lot of upcoming commitments, and I simply need to live on less, so I can justify working less and studying more. It will also give me some more padding for when I have to move later in the year. Moving is expensive, and I also want to be prepared for any other extra expenses, such as changes in rent and so on. It just makes sense. Finally, I would love having a travel fund for when the world starts to open up again.
I want to have reached my savings goal for my “house/general savings” account, so I can look into investing more. I have my eye on some sustainable index funds that I want to pour some money into, but that requires me to free up some more of my budget. I also want to comb through my subscriptions to see where I should drop subscriptions (I don’t have a lot, thank god). Then I also have a challenge of not buying any take-out for a month, and my reward will be a book. I have the same for not buying any clothes/make-up for the month, where my rewards in this category will be a set of magnetic eyelashes I want to try and an epilator that can save me time and money on razors.
What am I doing to challenge myself and reach my goals?
- Meal-prepping and meal planning. So much easier to throw things together when everything is either pre-cooked or pre-chopped. I did it today, and it only took me around 2,5 hours, which I don’t think is bad for a newbie! The initial cost for the groceries were a bit steep, but a lot of it was also dry goods in bulk as well as certain veggies that can last for longer than just a week, so I am quite satisfied so far.
- I have cut down on my contribution to a blog I really enjoy reading, and my subscription to a professional service I can’t really justify anymore. I am keeping my language and Spotify subscription though, since I use these every single day.
- I am keeping a bullet journal where I count down my “streak” of no take out and clothes/make-up.
- I have set a habit tracker to notify me every day or week of good habits – including tracking expenses.
- I will be sorting out my recipe collection and simplifying it, so I can easily find new recipes according to difficulty, ingredients and time requirement.
- Once my exams are over, I will also sell some more items in my wardrobe – it is highly addictive once you get started!