Cold Weather Has Curbed My Spending
January was a low key month. I didn’t go anywhere special or do anything exciting. Shoot, it’s been so cold, my idea of a good time involves my couch, thermal pajamas, and hot chocolate! Plus, this recession got me all nervous and ish – folks hoarding money and stockpiling food. WTF is that about? I haven’t gone to that extreme…yet, but with the exception of using birthday gift cards to buy my wish list items in the sidebar, I barely spent any money beyond necessities.
As usual, I track daily expenses in my handy dandy spreadsheet. Then at the end of the month, I evaluate them against my financial strategy. Here’s my first report of 2009:
Income: Rounded down to the next $10.
For January, my total net income was $6,910. It includes:
- Work related income
- Rental income
- Online income
- Credit card cash back rewards
- Gifts
Savings: Savings should be at least 25% of my net income.
For January, I saved $938 or 13.6%. When I realized I was $790 short, I transferred $700 to savings but it will not count towards this month’s numbers.
Bills: Bills should never be more than 35% of my net income.
For January, my bills are $399 or 5.8%, which is unusually low because January rent was paid at the end of December. The rest of my bills include:
- Electric: $56.19
- Gas*: $190.36
- Water: $18.93
- Cell: $79.30
- Landline**: $54.48
*My thermostat is set to 68 degrees, so this aint even right. I’m protesting!
**This is a new addition to the household bills (dial tone only), including installation fees. I decided to get a basic landline to help BabyGirl cutback on pre-paid minutes.
Business Expenses: Focus is to maintain positive cash flow.
For January, my business expenses were $1,631. Expenses include:
- Mortgage
- Domain renewal
- Misc. fees
Variable Expenses: Combined variable expenses should not exceed $1,000.
For January, my combined variable expenses were $675. They include:
- Groceries & Essentials*: $348
- Dining Out*: $138
- Salon: $65
- Auto Gas: $56
- Shopping**: $25
- Credit Report: $23
- BabyGirl: $20
*Notice the 1st two categories total almost $500 and I only have two people to feed. Umm…yea. It isn’t that we eat A LOT…ok, maybe we do…but this is really an example of how much food prices are increasing. I’m sure frequenting the new Harris Teeter doesn’t help much either. I love their fresh meat and produce, but their prices don’t love me back.
**The only other thing I’d like to mention is shopping. For the first time since my shopping strike ended, I visited one of my favorite stores. The one place I’d shop everyday if I could afford it. The one place every female must go to buy at least one pair of fabulous shoes. None other than NORDSTROM, of course!! With gift cards from fabulous friends, I bought a pair of black pumps, a belt, and 2 shirts. After the damage was done, I had to pay ~$25 out of pocket. Yes!
As luck would have it, I also found a purple scarf at TJ Maxx this past Sunday. Now, the only thing left on my wish list is a black suit. After an entire month, the search continues…
Total expenses for January were $3,644, which left me with about $3,266 cash flow. Seems like a lot of money for the slush fund, huh? Uh…not quite. After transferring an additional $700 to savings and reserving cash for February’s mortgage and rent, I’m right back to square one. Mm hmm. But when bills are paid and I have a little spending change, it’s all good.
Let’s just hope the weather stays cold for a little while longer (where’s that groundhog). Otherwise, a warm front may increase my urge to shop for new shoes…and there goes the February’s report.
Do you spend less money when it’s cold?
[image credit: corbis]
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I don’t think I do, but maybe I do. Seems like I’m always spending to me and this freaking HEATING bill is for the birds! I saw some nice suits (pant suits and skirt suits) at Macy’s yesterday on sale. You should check them out.
I’ll check ‘em out this weekend. Thanks! [-SM]
Normally it would curb my spending, but since we just bought our home and have to buy things for it, we’ve been spending a little more; but the good news is that we budgeted for it.
Have a nice day!
New house, no consumer debt, it’s all good. [-SM]
I think my spending actually evens out. I am usually home more in the winter which means my utilities are a little bit higher but I am not spending money elsewhere.
Re: utilities. Don’t even get me started on those. Ugh @ my gas bill! [-SM]
I have been lurking for quite sometime and I thought I should uncover myself. I love your blog and its very informative and I am glad to see a single sista like myself doing her thing…. I notice that you generate income online.. If this is not too personal could you share this info or make some suggestion on how a single mom, who doesnt have the luxury of getting a second job could possible generate income from online. …My goal is to be debtfree. Can you make some suggestions if you don’t mind.
How I earn money online.[-SM]
I do shop less in cold weather, this economy’s freezin’ me out! ;) Actually, it can get a little more dangerous because then I’m on the computer browsing more … which leads to potential online shopping. !Que disastre!
That double edged sword…ouch! [-SM]
Thanks so much for that link…. I signed up for linkworth. Its asking me to fill out a W-9. I don’t know if I am comfortable giving out my SSI#. Do you think I should submit an application to get a tax ID# to use instead of my SSI#… Can you please give me some advice… Thanks
I don’t think it’s the cold that did me in as much as just being plain ol’ laaaaaay-zaaaaay. Well, that and the fact that I have some life-changing events coming up that has me hoarding every cent at the moment.
Yeah. That’s about it.
If lazy saves you money, then who will dare complain? LOL [-SM]
I’m not a shopping person, so any month I really don’t spend a lot. However, regardless of the weather (hot or cold) I still dine out. It has to be raining hard or snowing for me to not go out to eat.
Dining is my biggest expense.
Nic pic of that credit card