June is going to be my “reset” month. This is going to be the month where my life settles down again, my expenses even themselves out, and I can start budgeting for all of my expenses and not just hope that I have the money to cover it – at least, those are my goals.
With today being the start of the month, it’s time to establish updated financial goals.
1. Pay off my refrigerator. This stinks, but I had to buy a brand-new refrigerator in May, with no planning and no real savings to back It up. The original plan was that I was going to take my parent’s old fridge, and then they would upgrade. Once we got down to the nitty-gritty and started measuring, however, we discovered that my parent’s refrigerator was 6” too tall to fit in the space that it had to fit in. Imagine my despair! Long story short, I knew I had a short amount of time to figure out what to do. I feel like having a refrigerator is pretty necessary in modern society, and I wouldn’t be able to last long (or cost-effectively!) without one. I scrutinized my savings and found some seed money, but the balance had to go on my credit card, giving me a month to come up with $700. I knew I would be able to pull it off by pulling extra hours at work, but the idea was unsavory. Lo and behold, a few days ago I received my security deposit back from my old apartment – I never thought I was going to see that money again! The whole check went right to paying on the fridge ($450). Now, my goal is to pay the remaining $250 before June 21, when my CC bill is due. I am so adamant that I don’t want to pay interest on a card or go into debt that I WILL make this goal happen!
2. Finish saving for a new laptop. I really want to save the last bit of money I need towards a new laptop this month, in the event that my old laptop dies between now and then. My goal is $200 for this account. I am probably going to hold off on buying anything new until after the big Apple conference in June – if old technology is going out, then I may be able to pick up the laptop I want at a better price! I would still like the money around in case of a laptop-related death.
3. Contribute to my Roth IRA. It seems that my poor retirement account is always the one that gets cut first when times are tough. At 23, I know that I have a lot of time ahead of me to save for retirement, but I want to get in the habit NOW, at a young age, of making regular contributions. Plus, the added bonus of more years of compound interest never hurts!
4. Work on re-establishing meal plans. Before I got caught up in this house business, I was pretty good about planning my meals for the week. When I did this, I saved money (because I wasn’t buying unnecessary items because they “might be useful for dinner this week”) AND I had better control of my eating. Plus, I had leftovers to bring to work! I’ve already written out my plan for the first week of June, and I’m hoping that I can keep it up for the rest of the month.
5. Pay for Iceland in cash. This seems to be more and more obsolete as time marches on. Out of all of the financial situations that have come up in the last few months, I have not compromised on saving for this trip. At this point, I think I will have no issues paying for the trip in cash AND having a little bit left over. However, I know Iceland is an expensive place, I know that I probably won’t have the opportunity to go back, and I want to be able to treat myself to the experience properly. I would rather come back with money leftover instead of having to scrounge around for cash!
What goals have you set for yourself in the month of June?