October is the other three paycheck month of the year! Below is my breakdown of what I am going to do with my extra $1,000.
$375 Emergency Fund
$375 Roth IRA
$50 Gift Fund (trying to boost it up in time for Christmas!)
$50 Travel Fund
$150 Self (new clothes/shoes, books, other splurges!)
What are you doing with your extra paycheck for October?
I have 2 months to go until my CFA Level I exam. I am on track to complete my first review of all the material by end of October, especially if I really get myself into gear on the weekends. Then I'll use November and the few days prior to December 5th for review review review until I can't see straight.
I didn't do October goals because I only really have one goal: STUDYING. It is basically going to be my life for the next 2 months, but I'm okay with that. My savings are all automatic, I always spend less than I earn, my E-fund is at a great place... so I feel fantastic in terms of my finances!
Don't worry, I won't be disappearing completely and I'll still blog when I need a studying break because I do love it! :) I'll just be focusing on my exam - but you can always follow me on Twitter.
Happy October!
And another month goes by! I had $250 leftover from my September budget. I am putting $100 into my E-fund, $100 into my Roth IRA and $50 into my Gift Fund, since the holiday season is getting closer! Here's my re-cap of my September goals:
1. CFA studying. Pass! I feel like I am doing okay... there is just SO MUCH material! :(
2. Finish my book. Fail. But I'm really close!!
3. Try some new recipes. Pass! As usual, some worked and some didn't. Haha.
4. Renew passport. Pass! I actually received it back today, hooray! Cruise, here I come!!
5. Finish knitting my first scarf! Fail. Studying has been my priority, so my other hobbies get pushed aside :(
6. Spend no more than $400 on vacation. Pass! Well, technically, because even though I did spend over $500, it was mostly from the surprise money my parents gave me! :) I have no idea if I would've spent that much of my own money...maybe.
On Friday I had a low-key night in with my roommates and caught up on some TV. On Saturday I got my car washed ($7.95) and then went shopping...I was getting frustrated because I wasn't finding what I wanted, but finally at the last store after almost 2 hours of wandering around the mall, I found a pair of skinny jeans and a cute dress! There was a sale going on, plus the cashier gave me an additional 20% off due to a "friends & family" weekend so my total was $102.23. I splurged using the extra cash I had! That night I went on a date - he paid and I think the meal came out to about $60 including tax and tip. On Sunday I went for frozen yogurt ($2.95), studied, watched TV and went to yoga.
I would say it was a successful and fun weekend! :)
If you follow me on Twitter, you would know that I went on a date last night!
It was a blast! He is funny, outgoing, talkative and intelligent. The sushi was good and the restaurant was awesome. The waiters didn't even care that we sat there talking for over half an hour after we (well, he) had paid for our meal, and we had been there for 3 hours already!
He already brought up going out on another date when he walked me to my car, and said he would call me. I can't wait to hear from him! :)
I track every single purchase that I make in my budget spreadsheet. At the end of every month, I reconcile my budget and put my leftovers into savings, which is usually my E-fund and Roth IRA.
As of today, I have $995 in my checking account which seems abnormally high! I made sure that my full rent amount for next month is waiting in my brick & mortar savings to be debited and sent to my landlord via automatic bill pay - yes, it's all there. So it wasn't because I missed putting that away. After the rest of my monthly automatic expenses get debited and I pay my roommates for utilities/cable for September and spend about $100 from now til next week's paycheck and save my September monthly leftovers, my checking account will still have $500 in it!
I went back into my spreadsheet and went through each month (different tabs) to see how much I had leftover after putting the leftovers in savings. Sound confusing? Let's say I had $200 leftover for a particular month, which is after all my expenses and savings is done, including $200 to my Roth IRA and $250 to Emergency/Travel/Gift/Car Funds. I would probably split $175 of the remaining $200 between my E-fund and Roth IRA, or whatever I feel like adding to in that particular month. So that leaves me with a $25 cushion. Some months seem random, it looks like I've left as much as $80 unallocated to just sit in my checking account.
I like a cushion, but I don't need THAT much of a cushion! After all, I have $1,000 for random emergencies in my b&m savings which I can access/transfer immediately. Usually I leave around a $250 cushion in my checking account, but it looks like over the past 8 months, I've been leaving enough that it slowly built up to $500!
Now I am trying to figure out what to do with it! After all, October is the other 3-paycheck month of this year and I will be saving almost all of that extra paycheck anyway. Essentially, I am giving myself $250 to play with! I am thinking a new pair of designer jeans and some shoes/accessories, or new workout shirts and a sports bra... I'm not big on gadgets, my camera and iPod work great even though they are both a few years old.
Any suggestions, or should I just go shopping?! :) Happy Friday and enjoy the weekend!
Disclaimer: I am obsessed/addicted/in love with NYC.
I spent a lot. I ate a lot. I did a lot. I hung out with one of my best friends and her friends, and my parents. I also saw a musical (The Toxic Avenger) with my Mom, which was hilarious and we got front-row seats from the TKTS booth! A big surprise was that my Dad, out of his generosity and ever-giving nature, gave me a check for $500 and told me to go wild! He's not usually one to hand out money like that, especially over the last year where him and my Mom have been a bit more frugal due to the economy and loss in their retirement accounts.
So, I followed my Dad's instructions. That $500 definitely went wild, and quickly! I spent $100 on a few round of drinks, a new battery for my digital camera and some meals. The remaining $400 all went to (much-needed) new clothes! I bought a new pair of flip flops, a lightweight jacket, a pair of boots (pictured), 3 shirts, 2 belts, a long necklace, a set of bracelets, a lightweight scarf, a new "I <3 New York" t-shirt to replace my old one, a skirt, underwear and 3 bras! 
The city is also a big reason why I am a foodie. Here are just a few of the amazing restaurants: DBGB, Porchetta, Momofuku Ssam, Pio Pio, Ippudo, Creperie, Rice to Riches, Tiffin Wallah... :)
I will be taking $52.21 from my Travel Fund. This was for passport photos I had taken, a taxi ride, and some items I bought at Sephora.
I'm lucky (really lucky) to have amazing parents who do enjoy spoiling me on vacations! It's nice to not have to think about money sometimes and just have a fantastic time! :)
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