Hello, and welcome to another edition of Erin Spends a Lot of Money!
This is going to be a short one because my siblings are crashing with me tonight on their way down to NC, plus I already wrote extensively about many of the things reflected in my spending for May.
Another spendy month
A lot happened to make May an expensive month: I traveled quite a bit plus bought bus tickets for a trip up to NYC in a few weeks. I paid for another year’s worth of car insurance. I paid off my student debt!!! I managed to find a not-horribly-expensive ticket to Hamilton at the Kennedy Center this month and I’m going to enjoy the shit out of finally seeing it.
And oh hey, I’m officially going to FinCon! I haven’t decided when I’m leaving afterwards yet, but I bought my conference ticket and my flight to Orlando a few weeks ago.
Suffice it to say so far I’m doing quite well on getting the minimum spend on my newest credit card (and I know May is always expensive for me thanks to car insurance, which is why I opened a new card at the end of April).
So what I heard in the comments on April’s spending report was essentially how on earth are you not including your contributions to your retirement accounts in your savings rate, you idiot?! They absolutely count!
Fair. And it’s a hefty amount of my paycheck that gets deducted pre-tax. I don’t get paid a ton but I also opt to have quite a bit taken out automatically so I never see it (certainly much to the detriment of my cash flow).
But like I said in that post, the perfectionist that I am balks at both a) comparing pre- and post-tax dollars to each other and b) figuring out some complicated formula that’ll convert my pre-tax dollars to what they’re worth post-tax (or vice-versa) so that I’m not comparing apples and oranges. But I’m gonna grit my teeth and not worry about those things. Because it doesn’t actually need to be a perfectly accurate savings rate!
Obviously a pre-tax dollar goes farther than a post-tax dollar, so comparing dollar amounts isn’t entirely accurate but for the sake of ease, I’m just gonna suck it up and throw out the numbers and not worry about pre- or post-tax rates. Cold, hard dollar amounts it is.
Also the income from my second job looks pretty great for May, thanks to multiple weekends worked, including a stint of four days in a row. Ahem, my resolution to give myself some time off is obviously still a work in progress… 🤦♀️
|My half of rent|
|Internet and utilities||
|My half of utilities|
|THE LAST MONTH THIS WILL BE HERE!|
|When friends come back to town to visit and you end up very drunk, things get expensive…|
|Sometimes you’re having a shitty day and you go and make a $100 donation for women’s reproductive rights just so you can say something good happened
|Hamilton ticket!! (with a bunch of fees, boooo)|
|FinCon ticket plus one-way ticket to Orlando|
|It’s that time of year again|
|Paychecks and other income||
|Side hustle income||
|Hey look, it’s a new addition! I’m including my employer contributions in here, too. Free money is awesome!
And look, my savings rate before I put my retirement contributions in was -20% versus the 12% these numbers reflect.
(Also not included are transfers from my savings apps to cover much of the travel costs and my FinCon ticket, which would also bump up my savings rate to 28% if they were included in my income. Saving to spend to the rescue!)
So selfishly this makes me look way better in a ridiculously expensive month. Maybe I’ll keep this retirement contribution thing going!