I have matched the following purchases into savings (a √ means the match has been deposited, no √ means it is pending until my next paycheck):
- January 1, 2017: ColourPop purchase of $39.80 √
- January 3, 2017: Ipsy subscription of $10.00 √
- January 12, 2017: Morphe Brush subscription of $19.99 √
- January 25, 2017: Salon pedicure service of $32.00 + $10.00 tip to the tech √
- January 27, 2017: Ulta.com purchase of $101.78 √
- January 29, 2017: Ulta manicure service of $40.00 + $10.00 tip to the tech √
- January 29, 2017: Ulta purchase of $109.39 √
- February 3, 2017: Sephora purchase of $40.03 √
- February 3, 2017: Ulta purchase of $44.84 √
- February 3, 2017: Ipsy subscription of $10.00 √
- February 9, 2017: Ulta purchase of $16.01 √
- February 12, 2017: Morphe Brush subscription of $19.99 √
- February 12, 2017: Ulta.com purchase of $3.20 √
- February 19, 2017: Ulta manicure service of $40.00 + $10.00 tip to the tech √
- February 19, 2017: Ulta purchase of $21.83 √
- March 3: Ipsy subscription of $10.00 √
- March 8: Ulta purchase of $11.74 √
- March 12: Morphe Brush subscription of $19.99 √
- March 12: Ulta service of $64.80 +$20.00 tip √
- April 1: Ulta manicure service of $40.00 + $10.00 tip to the tech √
- April 1: Ulta purchase of $88.10 √
- April 3: Ipsy subscription of $10.00 √
- April 12: Morphe Brush subscription of $19.99 √
- April 16: Ulta.com purchase $50.38 √
- April 29: Ulta manicure service of $35.00 + $10.00 tip to the tech √
- April 29:Ulta brow service of $21.00 + $5.00 tip to the tech √
- April 29: Salon pedicure service of $34.00 + $8.00 tip to the tech √
- May 3: Ipsy subscription of $10.00 √
- May 12: Morphe Brush subscription of $19.99 √
Total savings to date: $1,096.85
What the heck is this all about?
I’m trying to be more financially responsible. I am way too old to not be saving money. I hate spending money but I haven’t seemed to manage to save anything either. I vowed 2017 and onward would be different. I like to get things on sale but those sales often lead to impulse purchases. I started thinking about a makeup-based savings account in addition to general savings. If you want to see my thought process on this, you can read my original posts (#1 and #2).
I opened a savings account. Here is how that is working out.
- I opened the account at the end of January with $200 from my work bonus and the $105.50 that I collected through 2016 in change. I also deposited the rest of my bonus, minus the 50% I paid to my student loans and a small amount I held back for something nice for myself and Valentine’s Day gifts for the family. See, I can be responsible. 😀
- Every 2 weeks, starting with my first paycheck in February, I deposit a random amount from my paycheck into savings. My goal is 5% each pay period but sometimes that will vary anywhere from 3% to 10% depending on what is going on at the time. Bills happen. *shrug*
- For every makeup purchase I make for myself, I match an equal amount to deposit into savings.
- This includes tax and shipping.
- This also includes beauty services and the tips paid to the service technician.
- This does not include purchases made that are gifts.
- If the purchase is a combined purchase of things for myself and gifts, I subtract the retail value of the gifts from the total but I still include all the taxes and shipping into what I match for savings.
- I do not subtract what is matched if I end up returning an item or decide to put it in the box of shame to share with the kids.
- The goal here is to encourage making knowledgeable purchases rather than impulse purchases. If that $40 purchase looks really appealing, how appealing does it look when it actually costs $80 in the end?
- Continue stashing away loose change and deposit that at the end of the year. The coffee can on my desk is already making some noise so that is going well.
While I can use what I deposit from my paycheck into savings, the makeup savings is untouchable until I decide what to do with it. It might end up being my makeup budget for 2018. Or it might be a lump sum payment toward my student loans. Oh hell, maybe I will use it to take a cruise in 2018. I don’t know yet but I’m tracking the savings that is makeup-related and I am leaving that alone. In 2018, I might even open a 2nd savings account just for makeup savings. For now, 1 account for both types of savings will have to work.