There used to be a time when I tracked all my spendings – every month. For years. After I earned more money and didn’t need to budget this closely anymore I got a bit lazy about it. And some time in the past couple years I realized I have no freakin clue were my money goes. Well, I do somewhat as I need to set pricing for my freelance business and see if my hourly/daily price covers my spendings. So I know round about what I need to earn and I know my big spenders. However the nitty gritty in-between, the moments money seems to fly out of your wallet those are the moments I couldn’t pin point.
When I set my new list of goals for the 101 things in 1000 days I knew I wanted to include tracking my spendings. And so here is the first month I am doing it. For my October spendings 2022 I tried to lock down all my spendings. read my spendings. Not household spendings. That would be a goal for next year.
When you look at this chart you see that I pay about as much for insurances and retirement (38%) then for housing (32% +7%). Now please keep in mind housing is only the share I pay. It is double the money.
But paying this much for insurances is really really annoying. And it is only the monthly payments. I have insurances like my business insurance or my international health care that I pay annual and that don’t fall into October. My health insurance is high. As a freelancer I have to cover that all by myself and the more you earn the more it goes up. Currently it is close to 1,000€ a month. I want top weep when that payment is taken out of the account. But than I quickly try to tell myself that I am still better off. My migraine medication alone is 600€ per month. I had a surgery this year and all the regular appointments such as dentist, gynecologist, ophthalmologist and my regular doctor and all the vaccination. So it is a good. deal. But it does hurt.
As a freelancer I also have to save up some money for my retirement. I do not have any employer taking care of that. I do have a couple insurances for that – not the best options but I was young. I also try to build up a portfolio to close the gap I am having for retiring.
Spendings for Savings and freelance life
I like to save as much as I can. Currently that is 8% a month. This is a bit fluent. If I spend less I put more in savings. Less in December as I have all the Christmas spendings. However ever since I started full time work I have tried to put some money into savings. And I know I am a rare breed when I say I have never been in dept in my life. Very privileged. Very thankful. But I know life can quickly throw a curve ball. Specially when being a freelancer. And who am I kidding hard years are to come. I don’t have any illusions about 2023 and 2024. I will most likely reduce all those savings… It is an up down that freelance gig.
Maybe a quick side note since I dipped into freelancing. I do have two separate accounts. And I pay myself a monthly salary from my business account to my private account. That salary is fixed (at least for a year) and if I earn more I don’t get a raise. But I also don’t get cut when freelance work slows down a bit. I try to have a steady income that is oriented on my spendings.
The savings here in the diagram are additional savings as a private person.
Spendings in Clothing
I am a little surprised about that spending but then not really. I usually do not buy so many new clothe and don’t care much about fashion trends and the latest must haves. However This month I finally found a rain coat. I have been searching for years. I also needed some new underwear – 2 bras broke… I snatched a royal blue sweater on sale. I had the same one bought earlier this year but it broke (I was refunded) and missed it ever since. As it was on sale it was a no brainer. Also two shirts I had in my cart since summer. And then I invested in some warm slippers for winter. I get really cold feet when sitting in. the home office and work. Cold feet are no good – for health and mood reasons. One pair would have been enough the husband said I should keep both. I did but I could have done with one…
Spendings on Food
Is it sad that I spend more on take-out than on groceries? Admittedly yes. I wished it was the other way around. It is not. And exactly the reason I needed this spending report. I needed to see it with my own eyes. I know we do a lot of take out. Laziness wins. Or it is some sort of gender equality. I don’t want to cook every day. The husband doesn’t want to cook at all and so it is take-out. Also when we are both really really busy with work we order in and keep working.
Again this is only the amount I spend on food. Often times the husbands orders groceries and take out. I assume he pays more. So not really representative I fear.
Also some of the groceries I get are bought at the drugstore. I was just too lazy to split the bills in two categories. The drugstore carries a lot of organic foods. I get my oat milk, healthy candy, cracker and nuts, honey or at times noodles or flour.
As you can see I don’t really spend anything on hobbies or myself. Books are the bottom of all with a total of 1,98€ spend – two kindle books. I didn’t buy craft supplies. This blog domain costs sure but I run that through my business as I have a website there too and my package allows for three websites in total. Should I spend more on hobbies and myself? It is something I really have a hard time with. (Hence making it a goal this year and giving me a budget even) I think I can splurge for the rest of the year…
I have not tracked the October spendings 2022 religiously. I could have done a better job but I didn’t want to spend more time on it. However it will be interesting to see what it will look a year from now.
Do you track your spendings? What is your surprise when you look at the spendings?