Mint Obsesssion ($107,989)

This morning’s mint.com obsession is Trends – Spending – By Category.  I should first say that I looked at my spending over time and was impressed with my limited spending in May, June and February–around $3,600.  I thought I did so well last month only spending $3,900.

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Oh but then I remember the crazy increase in my student loan payment, and that in at least on of those months I didn’t make my big payment at all because of the transfer.  I also look at the fancy pie charts for last month and over time:

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Last month over half of my spending went towards my student loan payments/attempts to make progress to pay down my balances (pats self on back).  Over the last year it’s only been 32% of my spending (hangs head in shame).

In both cases food is about 15% of my spending.  I. Am. One. Person. I do not need for 15% of my spending to go towards food!  (Full disclosure:  a lot of that “other” is probably uncategorized lunch purchases, which I was too ashamed to categorize, because then my food budget would have clearly been even more over). So far this month (and toward the tail end of September) I’ve been disciplined in bringing my lunch with me.  I’m also hoping to bring my transportation expenses down from around $700 a month to around $500 this month–$450 if I’m being really optimistic, but I have a couple things to be driving to on weekends, so that kind of reduction might have to wait until next month.  But at least for the three months when parking is free that will put an extra $200 in my pocket each month, at least some of which will be saved or go to loans.

I don’t expect to be as disciplined in the shopping category this month–because I need to find some new commuter shoes (or hopefully get the ones I have fixed because I love them so) and because I’ve been eyeing a Christmas gift or two.  The overall goal is for the education category to be a little over 50%, though actual dollar amounts obviously matter too.  Because I’m spending SO DAMN MUCH on my student loan payments I should be spending a much smaller percentage on food–more like 10-12%.  This month’s pie chart will be really skewed by my extra paycheck (and corresponding extra loan payments), but hopefully I’ve have worked on some habit changes when it’s time for November’s chart.

I think writing this crap down is helping.  We shall see.

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3 thoughts on “Mint Obsesssion ($107,989)

  1. I am really impressed with your discipline, I finish graduate school next month, and I am gasping at the amount of student loan debt I have accumulated in the process. I too may find myself with a mint.com obsession.

    • Thank you! It hasn’t come easily–I used to be far more financially irresponsible, and even when I got better at things, I was still often only paying the minimums. But the prospect of paying on these loans for 25 years sounds awful, so I’m trying to do whatever I can for the next year or so to try to reduce my principals, so that when I do have to start paying for housing and making less money my payments will go further.

      Good luck with starting to pay your loans–I can’t recommend enough that if you’re employed you should start paying on anything that accrues interest as soon as possible. When I really started looking at things I couldn’t believe that six years after I graduated college I owed more on my undergraduate loans than when I left in 2005.

      • Thank you, already started paying on my undergrad loans because I graduated undergrad in 2004 and waiting to pursue my masters, but I was equally as irresponsible. Coke on my credit card, no biggie! Horrible decisions! And I didn’t have the best credit role models either! I can’t wait to watch your debt fall off!

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