As a struggling "emerging adult," my finances don't look great. Sure, I'm better off than a large number of my college buddies, but if my accountant of a father ever looked at our accounts, he would be disappointed.
My husband and I actually make the median household income in the US according to Google. And after looking at the average millennial income by state, I feel like this Weidman household is doing pretty great!
Until I actually look at our bank accounts. I think we use our money sparingly; I mean, we live in the middle of nowhere, never go on dates, never eat out (except the once or twice a month Domino's), don't have expensive habits or addictions, etc. You can read more about our finances and our current financial goal in this post. I have extreme life anxiety, and our precarious finances does not help that, so hopefully this goal will ease my nerves!
I watch our accounts like a hawk, and we really don't spend much on anything in particular. We typically spend 30% of our monthly income on rent, 9% on groceries, and we do have the regular expenses like gas, cell phones, etc. And yet, somehow we end up spending a good 80% of our income.
We have always stayed in the black, but we haven't TOUCHED my husband's student loans from undergrad. And, we live off of one income during the summer months. So it's always a bit risky...
Last month, I told you all that I wanted to save $5,000 in this calendar year. Of course, I didn't start this goal until last month, but I'm shooting for it and I'm going to make it happen. In order to hold myself accountable, I am going to be posting my savings every month. It's daunting, and feels too personal, but I'm going to do it. And I need all of you to hold me accountable to this goal!
Here's where we stand:
First month of savings: $960
Total saved so far: $960
To keep track of my finances and cards, I use this kick#ss finance planner from NinjandNinj on Etsy It makes budgeting and planning super easy! We also use a pretty spiffy Excel spreadsheet with all of the auto formulas so we can take a look at our yearly categories and trends.