Money

August 2020 Spending: Dealing with Unexpected Expenses

Do you know everything you spent money on in August 2020? Do you know exactly how much money you saved, how much you spent and what your current net worth is? In this post, Clo Bare shares her August 2020 Spending Report which includes net worth updates, budgeting mishaps, unexpected expenses and how she’s navigating her way through it all in order to be able to retire by the time she’s 46.

August 2020 Spending Report: AKA All The Things I spent Money on Last Month

It’s September which means that the August 2020 spending report numbers are in! How’d I do last month? Did I stick to my goals and manage to pay down debt while also saving for retirement? Drumroll, pleeeeease.

I was technically under budget by $104. Not bad, right? 

I also put down $1.5k on my debt, saved another $6k for retirement, made some extra money from Clo Bare AND increased my net worth by about $7k. 

That sounds a lot more impressive, doesn’t it?

While I definitely had some wins last month, it was an EXPENSIVE month with seemingly unending random things I needed to pay for coming out of left field all month. 

Don’t you just hate those months where it seems like all you do is bleed money? That was definitely how it felt in August 2020 and my capacity to care just kind of diminished with everything going on in the world.

Ya feel?

Anyway.

Let’s take a look at the categories before we dive into the fuck-ups, shall we?

Watch What I Spent in August 2020 on YouTube

August 2020 Spending Report Categories

August 2020 Spending Categories

The Fuck-Ups Explained: AKA The Random Things that Snuck Into My August 2020 Spending Report and Budget

Health Medical

Health and medical was a sneaky category last month! While I only went over by $16, I spent about $100 more than I usually do on health. This is because I had a surprise charge of $25 for the Blue Cross Blue Shield Well On Target program that allows me to visit any gym on their list (think Anytime Fitness, LA Fitness, Planet Fitness, etc) for only $25 a month. It’s an awesome program, but because I haven’t been to a gym since ‘rona came around, I froze my account back in March.

 

I vaguely remember the woman who canceled my account telling me the charges would resume on August something or other, but I clearly forgot to cancel the account before the charge came through.

 

So, I’m out $25 but I called the program and canceled the account permanently since I can’t freeze it again and it doesn’t look like I’ll be going back to a gym any time soon. 

 

In addition to that surprise charge, I also had the Beachbody quarterly charge come out which is $39 every three months. 

 

Merp. 

 

But there is good news– I had my sister go halfsies with me so that $39 is now $19 every three months. I’ll take it! And now that I canceled the Well On Target program, another randomly expensive health month will (hopefully) not be on the horizon for Clo Bare anytime soon. 

Groceries

Do you see how much I spent on groceries this last month?!

I am shook.

$344 is a LOT.

It started to creep up because I used Instacart (Instacart affiliate link to get $10 towards your first order here! Clo Bare will also get $10 if you use it) a few times, which is usually about $7 to $10 more expensive than actually going to the store. I got Instacart 2-3 times, which means that’s an additional $20-$30.

 

I ALSO spent about $57 of that grocery money on chocolate and hard seltzers sooooooooo, that might be part of it too.

 

Lesson learned here? I need to stop leaving grocery shopping until last minute so that I don’t end up ordering Instacart on a Sunday. That $30 extra bucks adds up! If I invested that instead of spending it on Instacart, in 25 years I’d have $22k in the bank just from Instacart. 

 

I do this thing where I justify Instacart because I tell myself that I’d spend more by going to the grocery store exhausted and hungry. So, by ordering Instacart, I’m saving time and money because I won’t buy a bunch of things I shouldn’t. I should really measure that next time to see if that’s actually true. 

 

Instacart from Aldi is also cheaper than going to Jewel around the corner and buying things so that’s another notch in my justification belt.

 

But let’s be honest. The solution here is to do a better job at planning my grocery runs. All totally valid justifications aside.

Personal

I also spent more on personal than I usually do. Usually, I spend about $100 a month on personal, but this is because I bought my dress for my sister’s wedding and bought a baby shower gift for a co-worker. That alone put me about $100 over the normal spend.

Transportation

My transportation expenses also shot up because my boyfriend lives in the BFE and in order to get there, I have to rent a car! 

 

I don’t want to buy a car anytime soon (scratch that– hopefully EVER), and after crunching the numbers on what it would cost to use a Zipcar versus Uber/Lyft versus buying a car– I figured out that renting a car even once a week is still cheaper than buying a car, using Lyft/Uber or using the Zipcar each time I go out to see him.

 

Crazy, right? That’s why I like numbers though because they make decisions easier. 

 

Luckily car rentals are relatively affordable and I will only rent a car at most, once a week. We take turns coming out to each other but he’s, without a doubt, worth increasing my transportation budget.

 

Speaking of boyfriend– yes. Ya girl has a boyfriend. No, he’s not the same douchebag I mention in the July 2020 spending report. Yes, it happened fast as hell. Yes, I’m happy as hell too. No, I’m probably not going to write about our relationship unless it has to do with money. Yes, he’s a good, good, good dude and I’m thrilled af. AND DUH– of course we met on an APP. It’s 2020! 

ANYWHO.

 

Let’s talk about the few budgeting wins I had before diving into the spending report.



august 2020 spending report

August 2020 Spending Report Wins: Thank you Index Funds

Now, there aren’t many wins this month and I can’t really take credit for the one win I do have: market increases. 

The market has been doing better so my 401(k) balance shot up this last month. It’s a win because I now have more money to my name but it’s not really something in my control so I’ll just keep putting my money in whether or not the market goes up or down.

 

Sadly, that’s pretty much the only win. I did make a few extra bucks on Clo Bare which is nice, but overall it was a less than stellar personal finance month. 

 

So shall we move on to the spending report?

 

We shall! 

August 2020 Spending Report

August 2020 Spending Report

 

Date

Amount

Description

Category

7/30/2020

$82.00

Aldi

Groceries

8/1/2020

$23.00

nicor

Utilities/Cell Phone

7/31/2020

$18.00

thai food

Entertainment

8/1/2020

$50.00

dinner with Katy and Sara

Entertainment

8/2/2020

$40.00

Hinge

Dating

8/4/2020

$12.48

Vitamin B

Health/medical

8/2/2020

$1,419.00

Rent

Home

8/5/2020

$500.00

Student Loans

Debt

8/1/2020

$10.00

quarters for laundry

Personal

8/6/2020

$60.00

Dinner

Dating

8/6/2020

$25.00

pizza

Entertainment

8/10/2020

$20.00

wood floor restore

Home

8/9/2020

$15.00

makeup

Personal

8/10/2020

$9.00

vitamin d

Health/medical

8/10/2020

$20.00

Truly

Groceries

8/10/2020

$17.00

chocolate

Groceries

8/11/2020

$100.00

sprint

Utilities/Cell Phone

8/11/2020

$22.00

dog diapers

Dog

8/11/2020

$90.00

Instacart: Aldi

Groceries

8/12/2020

$43.00

pots for herbs

Home

8/14/2020

$100.00

Kayak

Dating

8/14/2020

$300.00

trip up to Michigan (car rental, food, pie)

Travel

8/14/2020

$50.00

sushi

Entertainment

8/14/2020

$17.00

uber

Transportation

8/17/2020

$28.00

diapers and hot spot cream

Dog

8/17/2020

$18.00

lyft

Transportation

8/17/2020

$95.00

comcast

Utilities/cell phone

8/17/2020

$8.00

renter’s insurance

Renter’s Insurance

8/17/2020

$50.00

Instacart

Groceries

8/17/2020

$20.00

instacart

Entertainment

8/17/2020

$35.00

resistance bands

Personal

8/18/2020

$20.00

baby gift sarah rose

Personal

8/18/2020

$53.00

bachelorette boat

Travel

8/19/2020

$10.00

laundry

Personal

8/19/2020

$72.00

ComEd

Utilities/cell phone

8/19/2020

$39.00

beach body

Health/medical

8/19/2020

$25.00

Well on Target

Health/medical

8/19/2020

$77.00

Dress for syd’s wedding

Personal

8/21/2020

$82.00

car rental and gas

Transportation

8/21/2020

$25.00

dinner

Groceries

8/21/2020

$20.00

tolls

Transportation

8/21/2020

$52.00

groceries

Groceries

8/22/2020

$18.00

lyft

Transportation

8/25/2020

$69.00

parking

parking

8/25/2020

$8.00

sauces

Groceries

8/26/2020

$20.00

program

Health/medical

8/27/2020

$40.00

dog food

Dog

8/27/2020

$1,010.00

student loans

Debt

Total Spent in August 2020: $4,936

  • % After-Tax Income Spent on Debt: 30.59%
  • % After-Tax Income Spent: 69%
  • % Pre-Tax Income Spent: 44%

August 2020 Savings & Debt By the Numbers:

  • Cash: $11k
  • Real Estate Investment: $43.9k
  • 401(k): $59.3k
  • Total Savings: $114.2k
  • Total Debt: $33.9k
  • Net Worth: $80.3k

 

 

august 2020 spending report

Big jumps in that 401(k) which is super exciting! And it’s always good to see that net worth climb as the debt lowers.

Now, onto goals! Woo! Let’s check into how I did with my goals last month and what my plans are for September 2020.

Goals I Set for August 2020

  1. Put $2k on Debt. Ok, I failed at this. I was under by $500 but with the trip to Michigan and the extra expenses I ran into– that’s where that money went, unfortunately.
  2. Keep not ordering in Grubhub when I’m drunk or hungover. Win! I didn’t order in Grubhub unless I was on a date or with friends! That counts.
  3. Keep dating expenses LOW as well as entertainment. I only spent $100 per pay period on dating (still too much) but better than the previous period. Entertainment was a little over $80 per pay period. I’d like to get that down to $50, and I’d also like to get dating down to $50 every two weeks as well.
 

Goals for September 2020

  1. Put down $2k on debt. In order to reach my yearly goals, for the next three pay periods, I need to put down $1k each pay period in order to have put down $22k on debt this year. Do-able. But I gotta stick to this goal.
  2. Save $500 in cash. I am going on a bachelorette weekend next weekend so I know that my expenses will be a little bit higher in September for that so I think that a goal of saving $500 is totally reasonable. I wish it was $1k but, I’ll take the $500 knowing that I have a few extra expenditures in September.
  3. GROCERY PLAN BETTER. I want to keep my grocery bill closer to $220 to $250 a month– not $350. $350 just seems excessive for one person.

How are you planning your money for September?

That’s pretty much it! How are you planning your money for September? Anything you’re aiming to eliminate or cut back on? Share in the comments below!

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August 2020 Spending Report
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August 2020 Spending Report
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August 2020 Spending Report
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Do you know everything you spent money on in August 2020? Do you know exactly how much money you saved, how much you spent and what your current net worth is? In this post, Clo Bare shares her August 2020 Spending Report which includes net worth updates, budgeting mishaps, unexpected expenses and how she’s navigating her way through it all in order to be able to retire by the time she’s 46.
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