2021 Spending Review
2021 was the first year where I tracked my spending every month. It was an enlightening experience to reflect at the beginning of each month on how much I spent the prior month and in what categories. As I work on my 2022 budget, I wanted to analyze and reflect on my 2021 spending overall.
Average Monthly Spend: $2,743
Dining Out: 17.87%
Above is my average monthly rent as well as the average monthly distribution of what I’d spend in each category. I wasn’t surprised that my top categories I spend in are rent, dining out, travel, and groceries. I love food, and one of my favorite things to do is to eat out, especially when traveling.
I wasn’t surprised that I spent the most in November due to traveling and buying gifts for the holidays. I also had a work trip in November which I didn’t have in any other month.
I spent less in the first half of 2021 vs the second half. I believe this is due to not traveling and also I didn’t live with my boyfriend at the time. When I moved in with my boyfriend at the end of summer, it took a month of us to figure out how we wanted to handle expenses. We now keep track of our expenses on the app Splitwise, and at the end of each month, we pay each other out. I typically end up paying him since he pays the rent directly to the landlord.
My budgeting goal in 2022 is to keep my monthly spending to be under $3k, excluding work expenses since those are reimbursed. It seems to be realistic since I spent more than $3k in 3 months. Otherwise, I will continue to be intentional with my purchases.