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Thursday, August 11, 2016

Spending update

Well, my official "mindful spending" has begun and it is a lot harder than I expected. In order to prepare, I did what I have put off for months. I went through each and everyone of my debit card purchases for the month of July. You know what I saw? A lot of money spent on useless purchases.

I realized that A pattern of boredom. Boredom was driving me to the stores. And not just nice stores like J. Crew and Nordstrom. I spend $136.72 AT CVS. I honestly don't even remember what I was buying. I'm sure it was for sunscreen or bug spray and next thing I know is new make up brush, a gift, things for the pool....

Doing a check on my entire month of spending was really eye opening and gave me the motivational to stop small spending. It's amazing how each day I can spend a good amount of money on nothing substantial. Figuring out that boredom was my reason for mindless spending, I tried to really fill my days with more productive activities (at least I tried week 1) and it worked! 

I stopped by my parent's house more frequently, stepped up my yoga game, and went for a walk in the neighborhood leading to less time at the mall/cvs/farmer's market. By filling my time with rewarding activities I wasn't tempted to buy, except for when my best friend invited to shop for her birthday outfit. I did find a gorgeous pair of jeans at the Nordstrom sale and bought them. Feeling guilty, I did return that Nordstrom top I bought earlier in the month and considered it a fair trade. Not ideal, but at least I didn't keep both items which is a win for me!

Check-in since August week 1:
1. Carried a water bottle each day to work, so no buying any bottles
2. Only got coffee at Starbucks one time for a coffee meeting at work 
3. Bought my lunch for the whole week, but left it at home (once) so I bought Jimmy Johns 
4. New jeans (but I returned a shirt of the same price I bought in June)

Not bad, but I can definitely improve. Lunch is a big money pit for me so I need to remember to bring it in each day.

Now for week 2 of August:

Week 2:
DOWNHILL
1. I bought coffee FOUR TIMES. Granted from McDonalds so I saved $1.05 but this is bad
2. I bought a necklace while I went on vacation in Naples for $53. I've been eyeing it an entire year, but still not an excuse.

In Week 2, I saw a new pattern emerge. When I "fall off the wagon" and buy one thing, I justify all my other purchases because I have the attitude of "well I already spent money...." So I wrote down all my purchases, came up with a new weekly budget to meet my needs, and lets say as a result of impromptu purchases I am now in survival mode. Not ideal, but I really need to break these spending habits and I really need to be more conscience of what I'm buying. 


The real test will be the weekend. Hopefully I can stay strong!