It’s 2022 bitches!
Out of all the plans I made for this year, getting my budget in order was the most exciting. It’s something about knowing where all my money is going that gives me a sense of calm. The entire world could be crashing down around me, but if I know I allocated $240 per month for food, everything is all good lol!
Before I started any planning, I took a look at last year’s budget to see if I could do a copy-paste or if I need to make any adjustments. I also looked to see where I may have fallen short in some areas, if any of my monthly bills have changed and factored in income changes. Doing a quick reflection helps me better plan for a new budget year.
Late last year, I got a raise that took my monthly income from 2,503.27 to 2,694.49 per month, and in my last “everything i spend” post for 2021, I was trying to decide how I was going to handle the extra money; would I add it to my budget or pretend like it didn’t exist. I settled on pretending it doesn’t exist and using it to pay down some debt. I live pretty comfortably on $2500 per month and I don’t want to subconsciously spend more because I’m making more. If there comes a point where I need to add that money into my budget, I have the ability.
Here is a look at my 2022 budget:
| Savings | $100 |
| Rent | $950 |
| Car Insurance | $55 |
| Utility Bill | $124 |
| Student Loans | $554 |
| Cell Phone | $175 |
| WiFi | $65 |
| Car Expenses | $20 |
| Cat Expences | $10 |
| Toiletries | $10 |
| Groceries | $240 |
| Gas | $160 |
| Total Expenses | $2,463 |
And just a note: Some of my bills fluctuate from month to month but I pay to set amount monthly regardless. When I was making much less, I kept account credits just in case something popped up and I needed to adjust my budget to get some extra money. That way I could adjust my budget and keep the lights on. If you want a post on some sneaky ways to get money from a tight budget let me know!
Thrifted Pleated Pants (similar) | Thrifted Grandma Cardgin (similar here, here & here )
There’s one tiny change to this year’s budget and that’s to my savings; just a $20 difference BUT there are more changes coming. In June I’ll be moving into a new place; where I don’t know quite yet but that will be a major budget adjustment. I currently pay $950 per month for rent and as much as I would love for it to stay that way, I know it won’t so I’m trying to set my max amount now. I have some major car repairs that are coming down the pike as well, but luckily I have a good amount in savings to cover a huge chunk of it. I’m lucky I don’t have a car note and I’m trying to keep it that way for at least another year, maybe two, so I see all the money I’m about to spend as an investment. I’m not sure how freelancing and brand partnerships will go in 2022, but my plan is to take that income and use it for debt and savings.
And speaking of savings, I’ve set those goals for the year as well.
As I of today’s date:
Short Term: 5,291.63
OH SHIT: 2,590.70
F%#$ This Job: 6,449 (yes this account is named f&*% this job, judge ya momma)
And by the end of the year:
Short Term: $8,000
OH SHIT: $5,000
F%#$ This Job: $10,000
These savings goals are ambitious; so ambitious it’s making me nervous, but they say if your goals don’t scare you, they aren’t big enough….I’m scared shitless guys! While I’m sticking to the end-of-year savings goals for two accounts, I am allowing the goal in my OH SHIT account to be flexible since it’s the account that’s used for emergencies and houses the seed money for my car repairs.
And I want to assure everyone reading, while I have a strict budget and some aggressive savings goals, I still have room in my budget for fun. I’m left with about $40ish each month and that’s used for going out to eat and random small spending. I’m also lucky that I have a business where some things can be an expense; cough that cup of Starbucks I had while researching a future blog post. I also set aside tax money and money I get from consigning my old clothes for the times I want to splurge a bit.
So there you have it, my 2022 budget and savings goals. As always, I will keep you updated monthly on my progress!
XOXO,
Shanna