One of the biggest adjustments of leaving my full-time salaried job is the change from a biweekly pay schedule to one where I get paid whenever a cheque is in the mailbox. Imagine you had $200 of money that didn’t need to go towards expenses right away, but you have no idea if that money needs to last 2 days or 4 weeks. This unpredictability has been really difficult and I alternate between holing away all of the spending money or not making it last as long as I should. Because of this, I’ve gotten really bad at being spontaneous with my money, like unscheduled events with friends. Added to this is my unfortunate inability to spend money on myself, and we’ve got a situation on our hands.
Lucky for me, budget-superwoman Tiffany from She’s So Savvy helped me work out a budget that allowed for personal and spontaneous spending.
See her work her magic in the video below and read my profile on She’s So Savvy:
What I Learned:
1. Location, location, location: We went shopping at Shops at Don Mills because even though not all of the stores are outlets, they tend to have outlet prices. There were no shortage of sales either! I also learned to pay extra attention to where things are placed in the store and to hunt for the sale racks. The front window items look great, but they won’t look great on a credit card bill later.
2. Shop the sale racks: Just because I tried to stick to what was on sale doesn’t mean that I had a shortage of things to try on! By taking advantage of sales, I managed to buy items I would normally have paid 2 to 3 times more for.
3. Splurging on yourself is fun! (okay, I already knew that, but sometimes I need to be encouraged!)
One of my favourite purchases from the day: regular $75, paid $30!
Thank you to Tiffany and She’s So Savvy for the help! Next on my list is a professional blazer for networking awesomeness.