Money on My Mind: Offsetting Surprise Expenses | Juliet

Each month we reflect on our financial lives because it helps us be more intentional with our financial well-being. We hope that by opening up the conversation, we can break down the social stigma around talking about money. Check out the rest of the series here.

I’m glad I stayed home in California for about 2.5 weeks cause it relieved stress off of my wallet. Thank heavens for parents, right? Towards the end of December 2018, money was on the top of my mind. I think it was because I was so close to being home that I didn’t want to cook anymore, which meant paying for food, but I also did not want to spend money. First world problems, I know.

How I think about my checking and savings accounts

I created separate savings accounts for my goals: one for travel, one for emergency, and one for TBD goal. That TBD goal could be opening my own business or use it to invest in real estate – I’m not sure yet. I automatically transfer money on a monthly basis so (1) I don’t have to worry about it and (2) I don’t feel the emotional pain from manually doing it.

I had a huge surprise expense in November 2018 for maintaining my car – all these pieces decided to wear out at the same time. This is the perfect time to use my emergency savings, but I didn’t even bother looking at my savings account and freaked out. That’s something I need to remember: I put money in my savings accounts for those goals. It’s okay to use that money. It’s yours to use.

How I did on my 2018 financial goals

About the same time last year, I stated my goals to:

  1. Balance my savings and spendings
  2. Increase my income
  3. Pay off my student debt

I’ve made progress on #1 and learned a lot about my financial self from being on the road. That will probably be a post in the “On the Road” series, so stay tuned for that.

I did not succeed on #2 though, but I have plans to tackle that this year. I don’t want to talk too much about it just yet because I have not really thought about it because I’m currently in Miami and spent a lot of time hanging out with my friend.

I also did not finish #3, but I did pay off a loan that had the highest interest! I’m almost there ~

Summary of this month

  • I spent a week in Orlando when I hit the road again, and I cooked all but one of my lunches. There were a handful of meals I ate out that I thought was totally worth it: Kadence for sushi and Royal Tea for boba.
  • I went to a museum in Orlando just to kill time. I paid money for it, wasn’t really into the art, so it became even more ugh for me. Tip: if you don’t really want to do it and it requires money, skip it. Spend that money towards something you’d enjoy more, or save it.
  • I spent a week in Miami and stayed with a friend. We cooked A LOT of meals together, which was so much fun because I wasn’t cooking for one person. There was roasted veggies, fried tilapia, and shakshuka – all quick & easy recipes!
  • I spent 4 days in Homestead, Florida, which is in the middle of Everglades National Park, Biscayne National Park, and entrance to the Keys. I only bought breakfast food, even though the hostel had a good kitchen. I went out for a Cuban sandwich for dinner, and it was so huge that it took me 4 meals to finish it all.
  • I am currently in Puerto Rico, which I’ll talk about in a separate post.

Check out other posts in our Money on Our Mind series!

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