Update: Here is the what I have spent on each category since January 2014. Though I was away from the blogosphere, I still kept up with tracking the money I spent. I looked at my expenses the past couple of months and I was over spending instead of saving.
From January till now:
- I have only managed to save 4% of my income. I also have 12% saved towards my Pension – the money I don’t get to see until I retire and it is automatically deducted from my paycheque.
- I have spent 13% of my income on clothes (stuff I don’t really need, I actually ran out of space in my closet and I went out to buy a Malm Dresser from Ikea)
- Due to my hectic schedule, I wasn’t able to pack lunch and dinner for the days where I have evening classes, so I end up eating out at least two nights a week = 11% of my income went to eating out at restaurants
- Transportation ate up 10% of my income. This includes both gas and parking. Since my classes were in downtown at 5:30 (I work outside of downtown and I get off work at 5 pm), in order to make it to the class, I have to drive and park in downtown.
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Perhaps I have been spending a ton of money on “things” I don’t really need to fill the void that was created when my dad suddenly passed away. I totally agree that buying the things that I have been wanting for a long time did not make me any happier. Instead, I remember I burst into tears once I got home after purchasing an item that I have been longing for. I felt awful for spending the hard earned money my parents’ left behind for me.
Here is what I have bought during the times where I felt I had to “reward” myself for all the stress, work and unhappiness that I experienced:
1. Pandora Bracelet + 3 Charms = $294.00
I wanted to purchase a staple bracelet that I can wear with almost any outfit because I want to wear it everyday. I have a staple necklace that I wore everyday for the past 7 years. I was looking at a Tiffany bracelet, but ended up purchasing this since I can customize it the way I wanted.
2. Louis Vuitton Bag = $819.00
This was an item that I had been wanting to buy the past 2 years. Two years ago, when I first saw it, it cost $690 to buy it. I have been putting the money I earned from teaching piano aside to buy this bag. Two years later, the cost of this bag went up to $780.00
3. Mackage Nuri Jacket (Black) = $307.99
I have always wanted a leather jacket and had been humming and hawing over it. I ended up buying this on a whim because I can wear it as a blazer and a jacket. I can also dress it up or down.
4. Tory Burch Mini-Robinson Bag: $302.00
I totally bought this on a whim. I actually SHOULD NOT have bought this. I bought this while I was studying for one of my final exams because I got really bored and started surfing the net (studying can be dangerous to my bank account). The only reason why I bought this was because of the bright and cheerful color.
5. Two Pairs of Nine West Sandals / Shoes: $166.00
Just these 5 items cost me a total of $1888.99.
Not to mention, I was in Vegas twice. I am quite positive I spent over $400 on each trip on “stuff” that I don’t really need. I was also in Hong Kong and Korea in April and spent at least $1000 on masks (from Korea), clothes and shoes that I haven’t even worn yet! Luckily, no credit card debt, but I am spending ALL the money from each pay cheque!
I really need to reign in my spending until the end of 2014!
~ The Money Pincher ~