Recently I started listing down my expenses in an app called Wally. It’s a great (free!) application that allows you to keep track of what you spend and you can even input a monthly budget so you can budget that amount. You can also scan receipts so that you have a file of those on your phone instead of tons of papers bulging in your wallet. There are loads of similar apps and I think it’s a good idea for anyone to try using something like this–unless you’re happy listing things manually, in which case I totally salute you! As long as you’re keeping track.
Now I learned one main thing from using this app– I spend a lot. Hehe. Too much, really, considering I still live on an allowance from my parents.
Since it looks like I’m going to be talking about money on this blog I do want to get this out of the way: I’m very thankful for what I have and I never take what my parents have given me for granted. They work hard and although I’m still studying, I do plan to do my share of hard work in the future so that I can take care of them (and maybe even a family of my own) some day. I am, however, an only child and I will admit to being spoiled (but not a spoiled brat–there is a difference) with both love and material affection. I’m pretty much used to getting what I want and when it comes to spending money, I exceed my allowance all the time. When that happens, I just use my extension credit card.
That’s bad, I know. Admitting it is embarrassing and once again I’m not trying to brag here. I don’t want to end up not being smart with money, so I know I’ve got to reign it in immediately. More than being honest with others, I need to drill it into my own head that it is not okay. As I write this, I’m also sort of inspired by Frances Sales of Topaz Horizon and Topaz Mommy who has a brutally honest blogging style. I kinda love that. And then there’s this guy. If you’ve been reading my blog for a while or if you follow me on instagam, you’ll already know my boyfriend, Greg. He’s the voice of reason in my life when it comes to money matters. Only Greg will put his foot down and tell me to be more sensible and spend less (my dad is too kind to me, hehe). Even then, Greg doesn’t really impose. He lets me decide by myself and just sort of guides me to the right/better decision instead. I love him for that (among many other reasons).
It was Greg who I was talking to when I decided that I need to fix this overspending problem. We were looking at my Wally app and it was kind of scary (lol) and so I made a joke about not buying any makeup until December. I was thinking of course of Carina who is currently on a makeup no-buy of her own which will end in November. I read her updates and I always think to myself that I could never ever do that–and yet my joking with Greg turned into a binding promise to effect a no-buy of my own beginning in September.
The main objective of course is to reduce my spending and although I know a 4-month ban on buying makeup won’t have me off the stuff forever, I do think it is a good place to start. Makeup is definitely a surplus item in my life and Greg and I estimate that I stand to save something like 20k if I hold off on makeup until Christmas. That’s money I could spend on gifts or that I could just save. Of course I hope to develop other good spending habits along the way and bla bla bla. Not much use in talking about it–I just know that I have to do it.
It also means that I will be forced to use what I already have, which isn’t too much… but who am I kidding, it’s still definitely more than the average girl has, I think. There are a lot of things I have and that I use all the time but haven’t even reviewed or featured before, mostly because new products come out at such a quick rate. I’m dreading the beginning of September because I know I’ll crave all of the new stuff, but the sensible side of me already knows that even without the new things I will still have a lot to talk about.
So the rules are simple: no buying makeup beginning September 1, 2013 and until the end of the year with the exception of one item in December (really had to bargain for this! Chrismas collections are too good!). This does not include basic skincare.
Wish me luck and lessons learned!