So, I’m turning 27 this week. With the realization that entering into my “late-20s” requires a little more financial know-how than I was previously capable of in my mid-20s (& because my student loans just truly never seen to go down), I began the hunt for someone to advise me on my finances so I wouldn’t find myself needing to apply for a cash advance. A financial advisor, if you will. Speaking of student loans, people only start repaying it when they get a job that earns them above the threshold, so this shouldn’t be something people worry about. Plus, the repayments are small amounts anyway, so they are not very noticeable. It may be worth checking out sites like SoFi for more information regarding student loan payments.
As I mentioned in my winter life update, I’ve been checking out LearnVest for quite some time. Their mission (& this is not a sponsored post, I promise, kids) is to change the way people think about money. They’re also big on making the act of getting financial advice affordable, for example, there are loads of free resources online that teach you all kinds of financial tips, even how to save 1 million dollars in 10 years if you’re feeling ambitious! I’ve heard LV’s founder, Alexa von Tobel, speak a few times, and she, in an incredibly intelligent way, makes the whole money thing sound pretty important to figure out quite early in your adult life. LV is big on giving you small tasks you can tackle slowly over time, so I thought it wouldn’t be too overwhelming, and was worth a shot.
I signed up for LV during a promotion and paid just over $200 (in 3 installments) for my Action Plan. To continue using the paid features of LV, the commitment is $19 a month. After sharing the details of all of my debts, savings, and everything in between, I met virtually/over the phone with my financial planner, Justin, and walked through it all. This call included, naturally, a whole lot of recommendations for saving for my $$ goals, investing in my 401k, using a retirement planning budget and paying down my loans. However, all that money going somewhere requires a little sensibility in the spending department.
At the end of our first call, Justin crunched some numbers and presented me with three budgeting options. The LV budgeting strategy involves “one number” that basically encompasses everything. Groceries and restaurants, gas and Ubers, Anthro and CVS, if you’re not budgeting for it ahead of time, it all goes here. I went with the middle option, $223/week, and was given a few weeks to practice. And because I personally love reading posts like this, I wanted to share how those weeks went with you.
Now, a few things to note before I dive into these digits. First, my full time job offers a pretty huge perk of catered breakfast and lunch on the daily. This saves me a ton. Second, I went on vacation in between these two weeks, and no one can be expected to say no to a $40 Mickey Mouse sweatshirt in Disney, especially when he’s doing a pose that closely resembles your favorite emoji. I’ll be starting with my full budget of $223 and subtracting from it as my week moves along.
Week One (4/15 – 4/21)
Friday: Coffee, breakfast & lunch at work. Went on a date at Tequilas for dinner, my date generously paid. {$223}
Saturday: Made breakfast at home. Attended The Blog Connect during the day, which was already paid for. Took Uber home, $3.67. Attended the Spoonful Mag Spring dinner as a guest. Cab to the event because my shoes were high, $5. {$214.33}
Sunday: Went to Flywheel using my monthly membership. Laundry day. Spent $18 (in quarters) on many loads. Made breakfast & lunch at home. Ordered dinner from The Greek Lady, $28.50. {$167.83}
Monday: Coffee, breakfast & lunch at work. Made some Amazon purchases, $55. Went to Flywheel. Ate leftovers from last night for dinner. {$112.83}
Tuesday: Coffee, breakfast & lunch at work. Ugh, will be stopping for gas later and I’m going out to dinner on Thursday, this is getting rough. Scored a $100 Starr giftcard for $80 from a friend. Stopped for gas on the way home, $24.82. Walked to the Philly ChitChat website relaunch party at City Tap House Logan, donation $5, glass of white wine + tip, $7. This puts me slightly over budget my first week. Made dinner at home. {-$3.99}
Wednesday: Coffee, breakfast & lunch at work. Walked to Talula’s Daily for their Secret Supper. Used my Starr giftcard + put the remaining on a giftcard from Rittenhouse Dentists for referring the most humans the previous month. Walked home. Stopped for necessities at CVS on the way home, $6. {-$9.98}
Thursday: Coffee, breakfast & lunch at work. Made dinner at home. Flywheel class. {-$9.98}
Week Two (5/6 – 5/12)
Friday: Coffee, breakfast & lunch at work. Flywheel with the monthly membership. Got delivery from SliCE, $26.63. {196.37}
Saturday: Flywheel. Picked up my dry cleaning, $23.45. Uber, $4.28. Brunch and beverages at Khyber Pass Pub, $29. Walked over to the South Street Festival, bought a double alcoholic lemonade, $8. Picked up my ticket for the Birdy concert at the TLA box office, $25 (but luckily I’m budgeting for concerts separately, so this doesn’t come out of my “one number”). Slightly buzzed grocery shopping at Whole Foods on my way home, $45. {$86.64}
Sunday: Mother’s Day Brunch at Lucha Cartel, Dad paid. Went to Art Star Craft Bazaar. Bought some greeting cards for $15 and earrings for $25. Drove to NJ for more Mother’s Day fun, free. Got gas on my way home, $14. {$32.64}
Monday: Coffee, breakfast & lunch at work. Flywheel. Still working through those pizza leftovers for dinner. {$32.64}
Tuesday: Coffee, breakfast & lunch at work. Flywheel. Made tacos for dinner with groceries. {$32.64}
Wednesday: Coffee, breakfast & lunch at work. Snacked when I got home. Went to see Animal House at The Roxy, $12. They had beer samples + I brought two brews from home, free. {$20.64}
Thursday: Coffee, breakfast & lunch at work. Made dinner at home. {$20.64}
So there we have it! A two week look inside the money life of me. Though, yes, my first week I was slightly over budget, I have the flexibility to make up for it the next week, which I did! If you all liked this type of post, let me know, and I’d be happy to continue with some more weekly budget fun. xx
