How I spent over 6.5k in May 😱

BUDGETINGPERSONAL FINANCE

2 min read

For the first time this year, I spent more than I earned. Despite being stuck in my room for a week since I tested positive to Covid for the first time, money managed to creep out without even realising!

The numbers are confronting. According to my spending dashboard, I spent 73% more and had less than 115% remaining compared to last month.

Continue reading to check out where every dollar went this month - and hoping your numbers are better than mine!

How I spent my money πŸ’Έ

Property was my biggest expense this month which added up to close to $4.7k. All these costs are fixed and cannot be reduced or taken out of my budget.

Expenses that fell in this category include:

  • 🏠 Mortgage - $1,910

  • 🧹Strata: $1,503.08

  • πŸ’‘ Utilities (Gas & Electricity) - $94.75

  • πŸ’¦ Water - $190.95

  • 🌐 Internet - $65.32

Property Related Expenses

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Family Related Expenses

Family related expenses were higher than I expected this month, where I spent close to $1k on my parents.

  • 🏠 Family Home Strata - $411

  • πŸ€‘ Mum Spending Money - $400

  • πŸ“±Recharge Mum's Phone - $200

  • πŸ’ͺ🏼 Mum's Gym - $39.8

  • πŸͺ΄ Mum's Homeware - $16.5

Other Expenses

Other expenses I spent money on this month:

  • 🍽️ Eating Out - $617.19

  • 🩺 Insurance, Personal Training & Doctor - $475.99

  • πŸ›’ Groceries - $103.16

  • πŸšƒ Train Fare - $85.16

  • 🎁 Gifts & Presents - $62.74

  • πŸ’– Personal Care - $323.65

  • πŸ›οΈ Business Expenses - $44

  • 🎡 Subscriptions - $15

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As you can now tell, May has been an incredibly expensive month. Most of these costs were unavoidable, and were mostly due to all the quarterly bills being due at the same time.

The biggest avoidable culprit in spending was Eating Out. I had an expensive Mother's Day and Birthday celebration, which costed hundreds and I didn't budget for it. I'm going to closely monitor this category going forward to ensure I don't spend more than I need to.

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