Where is all my money?

[woahisme13]

Last year I had money all the time. IN the past year I have made many financial changes/ improvements. But now it seems like I have no money. In the past year I have:

 

- paid off 2 credit cards

- quit smoking

- got 2 roomates- more than halving my rent

- started packing lunch rather than buying it

- cut my bar budget from $60/ night on FRI & Sat down to $20/ night

 

I estimate a total savings of roughly $865 dollars a month.

 

However, it seems like I never have money now, I am literally down to single digits in my bank account each week. How does this happen?

[Cognitive_Canine]

Do you balance your check book often?

 

I'd make a month long journal including every single cent you spend. It could be a bunch of little things eating away at your money. 5 dollars here on a magazine, 3 bucks for coffee 3 times a week, 20 bucks for going out once a week, a 10 dollar movie once a week, 15 bucks in soda once a week...it all adds up pretty darn fast.

 

Cut out the things you don't need and subsitute things for cheaper options (making your own coffee, cutting down the soda, renting rather going to a movie).

[Perfection]

not trying to sound like an ass, but you mentioned areas where you cut back but have you kept track of your expenses? maybe that might give you a better picture of what's going on?

[thejigsup]

Things have gotten much more expensive in the last year or so. I haven't much money left, either. No one has.

[jul-els]

Yep, I'm living on a shoestring too. I'm saving my butt off and putting it all in savings, though. As a suggestion, maybe you could take the money you now have from the things you used to buy and put it into savings. That way there's no way to lose track of it.

[jul-els]

Yep, I'm living on a shoestring too. I'm saving my butt off and putting it all in savings, though. As a suggestion, maybe you could take the money you now have from the things you used to buy and put it into savings. That way there's no way to lose track of it.

[pianoguy]

There's really only two possibilities- either a) you're making less money than you did last year or b) you're spending more.

[ghost69]

you are spending somewhere. something somewhere is impeding your balance. you driving a lot more lately? gas money...