Happy Money Monday my friends! In today’s post I’m going to break down how I spent my hard earned money last week and my CORONAVIRUS TRUMP CHECK! This is definitely a new format compared to my traditional money diaries. Let me know if you guys like this better or if you prefer the daily dairy approach. Honestly, since this whole Corona thing started I’ve just been in Michigan doing a whole lot of nothing so I thought this may be a bit more concise than “I woke up, I went to the kitchen, I worked for 7 hours, then I walk to the couch” lol. Without further ado….here’s how I spent my shmoney.
Credit Card Payments
Barclay’s Credit Card Payment $78.35
- I have nominal bills hit this account solely to max out my Apple Rewards. I pay my iPhone forever payment and random app subscriptions from this account. It’s around $80 every month.
American Express Credit Card $1,564.58
- Dreaming one day to have a Black AMEX. Therefore, I charge absolutely everything to this account. And I mean EVERYTHING.
- I typically like to keep this bill closer to $800 – 1,000 but I moved last month so I had some large expenses. Hoping with this whole Coronavirus and being stuck in the house will help cut some unnecessary spending.
Savings $1,200 (Trump Check)
- I decided to save my entire Trump check since I have an aggressive goal to save $10,000 by July 31, 2020. This went directly into my Bad Bitch account AKA my BB. My goal is to have $25,000 in this account by the end of the year which will equal 1 year of my living expenses.
- Sidenote: I keep this is my Wealthfront cash account and they recently lowered their APY to 0.26% I’ve been thinking about opening up an American Express High Yield Saving Account and moving my money there. Do you all have any high APY banks you recommend?
- I have 20% of my take home pay automatically transferred to my Sinking Fund. This is a savings account that I use for surprise expenses i.e. medical bills and treating myself. I also freely dip into this account whenever I don’t have enough cash to pay my credit card bill in full. NEVER carry over a balance ladies!
- I keep this account capped at $5,000. Whenever I’m over this balance I transfer $2,500 to Bad Bitch account…well, that’s the plan anyways. I can’t say it’s actually happened lol.
Wealthfront $207 (Invested)
- This is my ROTH IRA account I invest this fixed amount EVERY paycheck. I really enjoy Wealthfront because they have a “Path” feature that allows you to add in your life goals and see if they’re affordable with the way you’re currently saving. It’s holistic and takes into account your checking, savings, investments, credit cards, student loans, YOU NAME IT! PLUS it breaks down exactly how much you should be saving across accounts.
- My path currently includes: taking 1 year off work to travel, purchasing a home in 2031, and spending $20,000 for my wedding in 2035.
- Interested? Please use my affiliate link here to sign up 🙂
Acorns Investing $20 (Invested)
- Ok, this may sound a little crazy especially considering I don’t even have a boyfriend BUT this Acorn account is money for my future kids. IDK THE EARTH MAY SELF DESTRUCT, MEN ARE TRASH, BUT I’M PRAYING FOR THE BEST okur.
- I like Acorns because they have a feature where you can shop and get cashback INVESTED into your account. I most frequently use the Uber and Lyft options but they actually no longer have them in app…so…I’m on the hunt again. I’ll most likely move this money over to an Ellevest account.
- Uber and Lyft rider cashback has moved to Rakuten which is a cashback service. I love them and I’ve earned $140 just for shopping! If you’re interested please use my referral link 🙂
- Acorns is most popular for their round up feature that rounds up every dollar you spend and invests it. A lot of my friends love it!
- Another retirement account. I honestly pretend like she doesn’t exist. And, of course, I’m maxing my employer match.
- Not a typo. I bought the same skirt in 2 sizes and keeping the one that fits. I’m missing the days when I was a size 4. I’m a 6 now – and still cute! I still need to return the 4 but Corona and lazy.
- Since it seems like I’ll be in Michigan much longer than I originally anticipated I purchased the below items:
- Felicia Leatherwood Pink Detangler Brush
- My Deman brush is getting old and I wanted to give this one a try! If you don’t know, Felicia Leatherwood is a natural hair EXPERT and celebrity hairstylist so I have high hope for this product.
- Alaffia – Purely Coconut Texturizing Spray
- Alaffia Repair and Restore Curl Maker
- Alaffia Repair & Restore Curl Defining Cream Gel
- I recently purchased the Alaffia Shea Butter and fell IN LOVE. So naturally, I need to scoop up their entire hair collection. This brand is fantastic because it goes beyond fair trade – not only do they pay a fair wage to the West African women who they source their ingredient from they also support: childbirth/maternal care, education, environmental sustainability, and PLUS glasses and eye exams in the West African region. I’m a Naija girl so I have NO CHOICE BUT TO STAN!
- More Than Enough: Claiming Space for Who You Are By Eliane Welteroth
- SO exited to read this book. This woman is one of my idols. She was the YOUNGEST editor in chief of Teen Vogue and made the magazine Black AF. I C O N I C!
- Felicia Leatherwood Pink Detangler Brush
I just realized that this entire Amazon purchase puts money in black women’s pockets! And ONLY black women! I’m so proud of myself 🙂
- Living in NYC I don’t have a car and never pay for gas lol. But since I’m in Michigan I put some $$$ in my brother’s tank since I used his car to run some errands last week.
ChangEd $9.09 (Student Loan Payment)
- I use ChangEd to round up all my credit card and debit card purchases to the next dollar and put this money towards my student loan payments. This is why I don’t use Acorns round up feature 🙂
- I have about $40,000 in student loan debt and holding off on prioritizing paying it off until I have a fully funded Bad Bitch account.
- A lot of online shopping and order two sizes of everything ha…ha…i’m so disappointed in myself for my shopping addiction..ha. UPS charged me $3.48 to print some return labels. It was a $200 return so it was worth it.
Overall, I hope you all enjoyed my money diary this week! I didn’t spend too much shopping (but I spent over $700 at Bloomingdale’s week 15 so it ebbs and flows). Writing these for you guys really helps keep me accountable for my finances and I hope in some way they help you too! There’s a graph breakdown below. I’ll see you guys for the next Money Monday! xo