Hi, My name is Jordan and I have a
drinking spending problem.
I have never been one for tracking expenses but I decided it would be a fun idea for a blog post and the results were downright depressing. I decided to use the last 30 days (May 25-June 25) for my research.
There were a few “one off” expenses for this month (Hot Water tank needed to be fixed at cabin, we opened up the cabin so had to do our annual big shop, and a good friend had a bachelor party & wedding).
Here is everything that came out of my account in the last 30 days:
30 Day Spending Tracker
Total money out of my account(s) in last 30 days: $7926.44
One off expenses(Bachelor Party, Cabin & Wedding): $1353.69
Essential spending: $1881.87
Since one of my goals is to have my Line of Credit completely paid off by the end of the year I expect each month the expenses out of my account will be fairly high until the debt is eliminated. I was able to pay off my credit card in full as well as reduce my Line of Credit balance by 5%. In the next 30 days I plan to pay down another 10% of the total L.O.C balance (potentially more if I start selling some of my Jets tickets this month).
Aside from my regular contributions (Mutual Funds & Work Funds) I don’t see myself being able to invest in anything for the next few months until I have paid off my line of credit. This upsets me – so I am going to try and supersize my savings and ATTEMPT to be as frugal as I can without going crazy for the next 30 days. I will post my results next month to see if I was successful. Wish me luck.