Financial Plan, Part 1

Sorry for the long lapse between posts, readers. I am a weary traveler this week.

I have, however, been evaluating my financial fitness [so to speak] to try and figure out how to obtain better money-handling skills. First things first: to see how much I have in the bank, and where I’m spending it. I hate to confess, but I haven’t looked at my accounts . . . in awhile.

Since January 1st, my biggest expense has been travel. Plane tickets are pricey!

After travel, my next biggest expense seems to be “merchandise.” This seems to include miscellaneous expenses, such as food and cosmetic purchases from Wal Mart, as well as online expenditures [gifts from Etsy :)], and I think different expenses I’m going to put in a category of ‘charity.’ Food, all totaled, probably accounts for about a fifth of my purchases. This isn’t necessary, since I’m on an unlimited meal plan.

The above graph is only my personal credit card spending. I made my own graph in excel that includes my debit card, and is broken down more in depth for the past 3 months:

Don’t worry–the HUGE blue one isn’t coffee (though it might as well be!), it’s “miscellaneous.” Travel is again the biggest chunk of my money, followed by ‘miscellaneous’ (which includes cash drawn out), then, surprisingly, charity. I sponsor a young woman named Archana through Compassion international, which is a sizable expense every month.

Since I’ve had my student credit card, my largest expense has been something I’m a bit embarrassed to share about. It was a one, lump sum purchase that accounts for the most money I’ve spent. Ever. I thought long and hard about it, and decided to do it. . . but I’m still a bit nervous to share, since it seems like such a silly thing. Let’s just say it rhymes with ‘maser lair shemoval.’

Yep, it’s the big one in orange, back from December.

I have to say, however, that doing this analysis of my spending makes me feel much more in control than I have before. Now that I know where my money is going, and how much I’m spending, I feel equipped to make a budget and stick to it.

My goals for the rest of this week and the next?

Make a budget

Research different mutual funds and stock options and invest! 

Two small lines of text, two big undertakings! I’ll keep you all clued in. This ‘Pit Stop’ is going to be a two week endeavor.

Now, let me know:

What is your biggest expense/splurge?
Do you use any online tools to track your money?
Have you ever invested? How did you decide where to invest?  


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3 thoughts on “Financial Plan, Part 1

  1. OMG! I should definitely do this. I do maintain my expenses in a diary. However, I don’t always calculate how much I spent for what in that month. Can you do a tutorial on how you do it on excel?

  2. Pingback: Financial Plan, Part 3: Investing | pilgrimageofhealth

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