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Hi High Girl Gang! Today y’all are getting me fresh off my night time skincare routine and in my bonnet cause your girl is TIRED! It’s the beginning of a new month which means we need to say goodbye to the a million years disguised as 31 days of May 2020. I mean for real from COVID-19, Doja Cat, that terrible Lady Gaga song, and then the entire country burning down – what the actual fuck. Aliens come take me now I’m READT!

Anyways, we’re here to talk about BUDGETS so if you need an income and expense tracker you can find a FREE ONE HERE. If you just like being nosey and reading about how I spend my money you can find my April 2020 Closed Budget Here.

Make sure you follow me on instagram ladies and without further ado…let’s get into it!

May 2020 Expenses

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Shopping

I’m on a workout kick! Adidas and Forever21 got $261 of my hard earned monies this month because I wanted to up my workout game. Being that I’m in Michigan for the remainder of COVID-19 I don’t have access to my full wardrobe and had only brought 2 sport bras and 3 pairs of leggings with me.

I now have a fully stocked athletic collection and about to be looking like Lizzo in the Juice video as Chole Ting kicks my ass in June! I regret nothing. Expenses May 2020

Gifts

The best money I spent in May was $50 to the Minnesota Freedom Fund with the protests happening across the globe I am certain we’re on the precipice if change. I wish I was in NYC to protest right now and be with my people on the front lines! To do my part, I created these 5 Tips For People Protesting Across the Country based from my experience. And throughout June I plan on increasing my donations and making more content for activist. Stay tuned!

More gifts! I purchases a cake for my friend who’s celebrating his birthday alone in isolation. And I also sent one of my girl friends a $25 Sephora gift card for her birthday. I budget $200 to spend each month on gifts and rarely use it. Moving forward, I definitely want to make a more conscious decision to give more frequently!

 

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May 2020 Savings

Savings May 2020

Bad Bitch Account

Let’s brake it down girl! My Bad Bitch account is my emergency savings account. I explain everything about savings from A to Z for you in my post, You Need An Emergency Savings Account STAT!

My May goal was to save $1,500 bring this account to $7,500. I’m just shy of that coming in at $7,091 for the end of May. I’m super proud of myself! I knew $1,500 was aggressive and I did my best to meet it.

My overall goal is to have $10,000 saved by July 2020. I have faith that it will happen!

Sinking Funds

What are sinking funds you may ask? Hm, seems like I should do a blog post about it. Definitely, adding that to the content calendar for June!

In short, sinking funds are “bucketed” savings. For example, Christmas comes every year and can easily put you in debt. So a financial fix is to have a sinking fund for your Christmas shopping that you add to on a monthly basis. Other examples are car insurance/incidental expenses, travel funds, birthday celebrations, etc.

Right now I’m adding to my sinking funds with the goal of capping them out at $5,000. At this rate, I should hit this goal by next month. Super exciting!

May 2020 Investments

401(K) and Roth IRA

I honestly pretend that my 401(K) doesn’t exist! This is because I never want to be tempted to dip into the money. If you have no idea what a 401(K) is you should read Everything You Need To Know About 401(K)s. This number includes my employer match, and of course your girl is maxing it out!

These markets really still have not recovered fully from the COVID-19 crash that happened earlier in the year. If you’re in your twenties like me we’re in great shape! Invest now because everything is on sale!!! Investments May 2020

Acorns and Ellevest

I’m making the switch to Ellevest! This month was a transition period as I had some issues setting up my Ellevest account and issues with closing my Acorns account so I ended up transferring monies into both accounts. Not ideal, but oh well. It doesn’t hurt to save more, right? I’m super excited to be moving over to platform that’s women centered.

This month I will be comparing all the investment apps on my blog so stay tuned for that post.

May 2020 Money Feels

Overall, I’m very happy with how I moved my money in May! I definitely had a couple of weeks in which I was feeling like I was spending way too much money shopping and my credit score dipped by 3 points. I literally had a full breakdown. But now that I’m actually looking at the numbers now it wasn’t so bad. I actually stayed within my budget!

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Any one else have a major panic attack whenever you spend money on anything that’s not a necessity? Tell me I’m not alone here! Anyone? Hello? Oh, so just me and Mr. Krabs? Ok, I guess. Until next time loves xoxo

 

 

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Thank you for reading! Make sure you follow this blog so you never miss a post. You can also join the girl gang on Instagram @HighBlackGirl and Youtube @Nnekaxoxo
Posted by:High Black Girl

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