This December, I have spent far more than I have saved. December 2017 is where this project has begun, so it is only fair I post a full detailed account of where I am starting on this journey. I do not have a $0 in my bank account. I have been saving and helping my friends save for a couple of years. My primary income is average sized and the lifestyle I maintain costs money. The goal is to live large and save for your future. Saving is crucial, but having life experiences you want to have is also crucial. The goal here is to strike a balance where both are sustainable.
Spending: I had one major purchase of $3000 over the past 2 months going toward continuing education, this is an investment in my future. Other spending has included throwing two parties, buying flights and hotel for a trip for New Years Eve, buying Christmas gifts, going out to eat/drink with friends, rent, and bills. This month, my credit card bills look like this:
- Credit Card 1: $1,768 (in November it was $5,835… OUCH)
- Credit Card 2: $3,980
Ways of making/ saving extra money this month:
- Ibotta ($27.68)
- Ebates (14.70)
- Job Referral bonus ($1000 before tax)
- New Bank Account Bonus ($300)
- Side Jobs ($200)
This money is in addition to my primary income. Primary income goes first to paying bills (rent, food, electricity…) 8% goes into 401k, $100 automatically goes to savings, and anything left over after extra- expenses (going out to dinner/drinks) can be put into savings again at the end of the month. The extra money above gets saved in an account for Travel or Real Estate, or put into the stock market.
Let’s count the “extra money” toward the $ million goal each month.
Progress since Dec. 2017: $1542.38