Skip to content
  • Blog
  • Categories
    • Health & Fitness
    • Personal Development
    • Finances
  • Archive
  • Shop
  • Blog
  • Categories
    • Health & Fitness
    • Personal Development
    • Finances
  • Living like Leila
  • Archive
  • Shop
Finances

May 2020 Debt and Spending Update

June 1, 2020July 2, 2020 Leila Leave a comment

Considering I worked from home for another whole month, May went REALLY fast.

I’ve been loving the warmer weather though! I’ve been walking a ton, going to the pool, sitting on my balcony…it’s lovely.

May wasn’t the best or worst month for me financially, but I did go over budget and also had some unexpected expenses come up.

Let’s get into the details.

DEBT PAYMENT/INCOME SPREADSHEET

CURRENT FICO SCORE: 763
CURRENT DEBT: $48,441.11
ROTH IRA VALUE: $3,279.38

FINANCIAL UPDATES

I put $500 to my emergency fund

Until September (when the student loan waiver ends), I have decided I want to save any money I have left over at the end of the month.

Then in September I can decide whether I want to put some of it to my student loans or keep it in my emergency fund.

I expect to have over $4,000 by then.

I discuss this in more detail in the video below:

A lot of variety in my extra income this month

I made over $500 in extra income. Most of it was from my online business ($446 – ads, course sales, affiliate sales, Etsy shop) but I also sold a few things on Poshmark and Facebook Marketplace!

Every little bit helps!

I went WAY over my grocery/food budget

May had 5 weekends in it which automatically increased my grocery purchases. However, I also got vegan pizza twice (for multiple people both time), I subscribed to Misfits Market (organic produce) and purchased razors, toilet paper, etc.

I know I say it every month, but I’m going to try again to get under $250.

My health insurance saved me over $10,000 for one incident

Long story short I chose to get the rabies vaccines after being bit by a chipmunk, which requires you to go to the ER for the first dose.

With 4 visits to the hospital my bill was over $10,000. Luckily I have really good insurance through my job and everything is going to cost me <$200 (including all the parking I had to pay).

Lesson learned.

I broke a ‘No Spend’ rule

I purchased 2 courses for a total of $19.98. They were on sale on Udemy. However, the topic is related to my online work so I am including it as a business purchase.

I also purchased new bands for my FitBit because mine broke.

SPENDING

Taxes: ($900) I put this money into my High-Yield Savings account until I have to pay taxes.

Sinking Funds: ($400) My sinking funds include car maintenance, vacation, gifts, medical/dental, and my emergency fund).

Investing: ($300) Last month I transferred my Roth IRA to Vanguard and contributed $300 so I could invest in VTSAX.

Donate: ($50) Every month I donate at least $50. This month I donated to Charlie’s Army, a cat rescue. I donated specifically to a little kitten named ‘Amber‘ who needed eye surgery (**Graphic photo).

Please donate if you can!

Rent: ($1,330) My first 15-month lease ended and I started my second year. My rent increased but because the shift happened mid-month it was a prorated amount.

Renter’s insurance: ($15.50) I am required to have renter’s insurance for my apartment.

Trash: ($35) Valet trash is mandatory at my apartment. Dumb, I know.

Wi-fi: ($55) I have Google Fiber. It was recently increased to $55 per month.

Electricity: ($61.06) My electricity bill.

Water: ($41.56) My water bill.

Food: ($388.84) This is all on groceries and food out.

Gas: ($8.74) I got gas once and haven’t been driving much.

Car: ($382.55) My minimum car payment.

Student Loan Debt: ($0) As I mentioned, student loan interest and payments are deferred right now. I decided not to put anything toward my student loans.

Insurance: ($147.15) This includes vision, dental, and life insurance. I have health insurance through work on top of my salary which is really nice.

Health: ($91.58) This includes my Ritual multivitamins ($32.40) and a visit to the Minute Clinic for my tetanus vaccine + antibiotics.

Phone bill/car insurance/Dogs: ($230) My sister pays my phone bill so I pay her for that. I also pay for my dad and step mom’s phone bills because my dad pays for my car insurance…the costs basically equal out. I pay an extra $50 to help her out with our dogs. My dad and stepmom paid off their phones so I offered my dad the $50 difference each month but he said to save it, which I’m so grateful for.

Business: ($252.96) This includes paying for Tailwind, GSuite, website security monitoring (annual), anti-spam (annual) and 2 courses.

Spotify: ($9.99)

Grow You: ($0) I cancelled my group coaching membership!

Gifts: ($40) For Mother’s day I bought both my mom and step mom Starbucks gift cards.

Amazon: ($28.86) I purchased brush head replacements for my toothbrush and 2 news bands for my FitBit because mine broke.

Parking: ($19.00) This was for 4 visits to the hospital.

Stamps: ($5.50) I don’t know why I bought 10 stamps when I really just needed one?? But I did.

Excluding my savings and debt I spent a total of $2,810.74.

As always, I upload videos every month with all this info on my Personal Finance YouTube channel!

Post navigation

The True Cost of Your Purchases
My 2-Year Debt Free Journey Update: I’ve Paid Off $34,050

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Hey, There!

Hey, There!

Leila, Owner
Welcome to my blog! I'm passionate about inspiring others to reach their full potential by overcoming their own excuses.

Click here to learn more about my blog!

Follow on Instagram

Affiliate Disclosure

This blog post may contain affiliate links. If you make a purchase through that link I receive a small commission at no extra cost to you.

Thank you for your support.

For more information please read my full disclosure policy.

  • Disclosure & Privacy Policy
  • Contact Me
© 2023 | Designed by Little Theme Shop