(no subject)

[trinityvixen]

As some of you may know, I've been keeping a diary of my expenses in my planner. I figured I'd get around to actually inputting the data into a spreadsheet while my boss was on vacation. Must have been some vacation as I know that she got back Saturday and yet still isn't in today. Anyway, I went ahead and put in some of my expense data to see what I got. I'm currently done with April and May of this year (I only started the diary in April), and what I've learned so far requires a little input from others (just want to see how badly/well I'm doing since I have no way to measure this except 'don't spend more than I get'). Who'd like to volunteer?

-I spent about $300 a month on food both months. That includes groceries, but the number is high because of eating out at restaurants. Is that about average for most people?

-"Entertainment" includes movies and my DVD-addiction, and that came out to about $100 for each month. I'm surprised it wasn't worse. April included my vacation in Hawai'i, which I largely didn't pay for since my parents were along for the trip and it was my birthday (wheee, I need to find my shark-diving photos!). What say you to $100 on entertainment? Okay?

-Diet Pepsi gets its own entry apart from food (though, in cases when DP was bought at the grocery store with other groceries, I did cheat and just list it as food). Damage done? Under $20 for both months. I'm floored. Frankly, I don't believe it's so cheap. With DP being $1.50 a bottle up at the hospital and anywhere from $1-2 at the stores for 2 Liters, I have to wonder how I drank so little, money-wise. The food bill must make up for it.

-Alcohol was surprisingly low (perhaps because the three-four trips to Dallas BBQ absorbed that cost), which I am fairly proud of. I don't really like spending copious amounts of time or money in bars, so that helps, but I really am glad just to see that, in general, I don't drink that much alcohol.

Next, I move onto June, home of the hideously large moving expenses and furnishing expenses. That's also where I had no fridge for a while, so food/diet pepsi (yes, I equate the two in my "needs for living" category) consumption ought to rise. And, if I'm really a big girl after all (despite the sprinkling of freckles I picked up from the sun this weekend, ugh), maybe I can actually set a budget for these things for September. Use the six months before it to plan out how much I spend so I don't overspend. Frankly, I need to save like the blazes because I'm moving into the "Birthday Blitz" period, where everyone I'm related to has a birthday coming up, as does about half of my friends. Crazy!

Comments

[arcane-the-sage.livejournal.com]

Ok without seeing the details of what you are taking in (context is everything) this seems generally ok. The food budget did seem high at first till you mentioned that it included eating out. I will say though that you should budget eating at home and eating out separately for budgeting purposes so that you can tell when you've been going out too much (which may also give you indicators should you need to do a dietary restriction for health reasons). Entertainment seems perfectly fine (esp compared to what I shell out a month on books, manga, and dvds =-þ ).

Honestly though so long as you are putting away some money on the side in addition to the expenses I wouldn't worry too much just yet. Also do you have annual goals to meet up with your monthly budget? Are you taking stuff out pre-tax for retirement? These are the kinds of things you need to keep in mind when making up your budgets for a given time period.

[trinityvixen.livejournal.com]

Next up, checking on the savings. I'm fairly lax about being specific with how much I want to save. I try to see that my monthly statements show an increase, and that's about as deeply involved with it as I've gotten. It's shameful, but one step at a time.

[arcane-the-sage.livejournal.com]

One thing I find helps with that, making all increase relative to you paycheck (after taxes). This way you can say you saved up x paychecks this year. Of course if x < 1 then you might want to rework you budget a bit.

[trinityvixen.livejournal.com]

Yeah, that's what concerns me. I'd say that I'm spending almost all I make, saving maybe a third of a paycheck a month or so (the last few have been hard to calculate because of the moving expenses and me covering for the roommates' expenses, too). I need to do better, and I plan to. Little steps...

[chuckro.livejournal.com]

Jethrien and I spend a total of about $400/month on groceries, which includes feeding 8-10 people on weekly gaming nights. I budget $200/month for "entertainment", which includes eating out, video games, DVDs, comics [that I don't get for free], and the like. I virtually always stay under that. Of course, I suspect I make more money than you do, but I made up this budget when I was making close to 30K in my first job, and it worked pretty well there.

You should be putting $2,000-4,000 into a tax-deferred retirement account per year. Either a 401K if there are matching contributions, or a Roth IRA if not. Call or email me and we can go further into detail with this, if you want. It's what I do for a living, after all.

And actually, pop me an email if you want to see the various spreadsheets of budgets that I've made up. I have them at home and can send them to you.

[trinityvixen.livejournal.com]

Yeah, eating out is doing me in, both financially and health-wise (not very good for me). I should watch that. As for entertainment, it's actually fairly cheap for me, and I'm trying to limit expenses like the fling I did on Futurama as best I can. Mostly, curbing my tendency to binge would help a lot.

Wow. Uh, retirement stuffs. Already? I think they have some that the University puts away for you (without taking money from you, I think, but then again, not sure), that you don't actually have access to right away. God, I am so bad at this. I already want to run away and delete this post because financial stuff just isn't my thing. Putting away thousands of dollars towards retirement, even the thought of it, makes me panic.

I'll get back to you when this stops wigging me out.

[chuckro.livejournal.com]

I'm sorry, I don't mean to be scary. It isn't, really--and you don't have to start now (most people haven't), but because of the wonder of compound interest, it'll make things much, much easier later. Money you put away in your twenties can multiply 200x by retirement easily.

I certainly didn't mean to make you think you were DOOOOOMED. You're not.

[trinityvixen.livejournal.com]

Thank you. And sorry to snap your head off, not my intention. I am so bad with money investment stuffs that it literally makes me panic just thinking about it. Which is awful and wrong wrong wrong. I know I don't have to but I probably should. I want to invest some of my savings like my old roommate did, but I'm not one to trust things like stocks (I am slow and cautious, like the mighty turtle when it comes to money) and I've been told a hundred different options. Mostly, I need to sit down and do the adult stuff. But I keep letting other adult stuff get in the way, like waiting to get a career first...

[(Anonymous)]

Understandable. It's big and scary and technical.

But if you sit down and do some simple, very conservative things, it can be made a lot less scary. And then it won't inspire blind panic anymore.

You'll probably never understand, say, derivatives. But that's ok. You shouldn't ever be investing in derivatives as it is. But a nice reliable mutual fund could be your friend.

[jethrien.livejournal.com]

That was me.

[trinityvixen.livejournal.com]

And I responded to the anonymous comment, because clearly, I'm a genius. D'oh.

This has been one of the longest mature conversations I ever have had, which probably goes a long way to explaining why grownup stuff terrifies me. I need to get back to ranting about movies and civil rights. Abstract, happy-angry place things...

[trinityvixen.livejournal.com]

I've heard about mutual funds sorta, and I've been meaning to look into something like it. I've really got to get going on this, I suppose.

[chuckro.livejournal.com]

I do mutual funds for a living. They're actually very easy once you learn the jargon. And if they scare you too much, there are plenty of other places you can put an IRA.

[trinityvixen.livejournal.com]

I had a girl try to explain hedge and mutual funds to me at a party. Just so wrong. I thanked her, pretended I had a clue, and changed the subject.

[jethrien.livejournal.com]

Compound interest is your bestest friend ever. Even if you can only put a little away now, it'll be much more effective than putting a lot away when you're 40.

Seriously, get a Vangaurd Roth IRA. Earmark a certain amount of money from your monthly paycheck as savings - put it away as soon as you get it, don't count it as existing. Forget it was there until you're 60. Stick it in the IRA, and then don't really look at the statements for a few years. It'll fluctuate - that's ok. It'll increase in the long run.

Or if you think you've got a 401k at work, go have a little talk with the HR folks. That's their job. If they have one set up you can contribute to, do. A lot of times, there'll be something that they'll match whatever you put in. If you put in money, you get more free money! And then you get interest on both! Yay!

It's not that scary. Really, I swear. You don't need to be super financially savvy. Give Chuckro a call or an email and he'll walk you through stuff in more detail. But it really will make your life sooooooo much easier if you start some retirement savings now.

[jethrien.livejournal.com]

Also, if you come to Chuckro for advice, I will provide comforting hugs, and pat your head and tell you it'll be ok and you can do this. We're a one stop service that way. :)

[trinityvixen.livejournal.com]

I ::heart:: you both mightily. This requires looking at the benefits package again, which I certainly shall do. I decided this weekend that if I can get off my duff and get the kitties vaccinated, I can schedule a doctor's appointment on my own. Baby steps, sure, but trying too be more adult, and dragging the part (part! Ha!) of me that wants to remain a child kicking and screaming towards the light.

[jethrien.livejournal.com]

Oh, believe me, I know just how you feel. I still haven't found a fricking dentist. I've been here over a year, I need to get my teeth cleaned, but there's a million other things to do and somehow I just never do it.

And while I've got stuff all nicely set up now with retirement accounts, I dreaded doing it for a really long time and had to really steel myself. And you know what? It really wasn't that bad.

But being an adult is scary and stressful. And while I put on a very good face to the world in general (I'm getting married! I have an IRA! I can make the phone company come fix my phone!), inside I'm still the kid who really wants Mommy to come fix everything while I go read a book.

[trinityvixen.livejournal.com]

Yeah, that's what I discovered in talking to my friend about going to see the OB-GYN. I expected my mom to make that first appointment then I would go through the motions later. I'm getting on that, really...

And you have a great adult face. You're more together in the middle of craziness than I am in the midst of my sloth. I am muchly in awe.

[chuckro.livejournal.com]

Craziness is much easier to handle than sloth. Especially when you're a control freak like Jethrien or I.

...incidentally, is that comment meant to imply that you've made it to age 24 without seeing an OB-GYN? I'm not female, but I've been led to believe that's not a good approach.

[trinityvixen.livejournal.com]

Uh, yeah. I'm getting shit from all sides for it, too. I'm working on. Veeeeeeery sloooooowly.

[(Anonymous)]

Dammit, that's another one I haven't done. I need to find an OB-GYN and a dentist. Bleh.

[jethrien.livejournal.com]

Naw, I just put on a better show.

But you know what? I'm starting to think that's what all adults do. We're all 10 year olds pretending to be adults.

[trinityvixen.livejournal.com]

That makes a lot of sense as an answer to the whole why humanity is flushing itself and the planet down the toilet...

[jethrien.livejournal.com]

Well, yeah.