What's in your Money Diary?
I can’t believe how quickly time flies when you’re having fun. It’s already the end of March! Let’s squeeze in one more post on Refinery29 Money Diaries before we move on to our April books of the month.
My favourite part
I loved almost everything about this book. Hearing from real women and getting an honest glimpse into their lives and spending habits was enlightening. A lot of people budget for therapy and most people with debt have a hard time with the repayments; the American health care system is scary and subscription services are making companies like netflix, spotify and hulu rich.
The diaries made me think about how I spend. Being a dog mom, car owner, home owner, landlord and people manager, I haven’t had a cheap month (or week) in a long time.
The best chapter(s)
The first and the final chapters were my favourite. Right from the beginning, Lindsey did a fantastic job outlining how to use the book, giving readers “permission” to mark it up, take it everywhere and use it as a personal reference guide.
Coffee and Money
Chapter 12, on the secret joy of saving for your future self, was motivating and energizing! One thing I hadn’t thought of doing before was adding up the money I spend on coffee and comparing it to my monthly Registered Retrirement Savings Plan contributions (RRSP is the Canadian version of the US 401(k) ). More accurately at this stage of my life, I could add up the money I spend on lululemon or beautycounter and compare it to my savings rate. Does the number make you freak out or are you comfortable with your spending decisions?
Overall, this book made me think twice about my assumptions and encouraged me to take a close look at my spending. The more we talk about money, the more confident we’ll be, and financially confident women generate wealth.
The things I could do without
I am personally interested in financial and estate planning, and how insurance can be used as an effective wealth generation tool but I glazed over the chapter in this book. It added to the (already overwhelming) amount of content.
I would have loved more content on building multiple income streams - which is something I will create for the money edit in coming months!
So… what's in your Money Diary?
Reading Refinery29 Money Diaries made me think: creating a money diary is a really fun way to do a full inventory of your current financial position and track your spending. It’s a snapshot in time, without judgement because by definition, your diary is for your eyes only… that is, unless you share it with us!
And once you track your spending for 7 days, let us know what you learned either in the comments on on insta.
Stay tuned for our April book club announcement on Monday!