There Are No "One-Time Payments"

I’m looking at my finances a little more closely as of late.

Why? I’m home and have a little more time. I’m also about to start making monthly payments I’ve never had to make until now: rent.

I stayed with my parents through college to save money. I stayed with them after graduating because it took me forever to find a job. Then I started touring and was gone two-thirds of the year.

But I’m home now and ready to have my own space. Unfortunately that comes at a hefty cost.

Where I currently live and work, housing ain’t cheap. Rent starts at $1,100 across the board and those places get snatched up quick.

I’m not making a ton of money, but I can afford everything I need in life, as long as I’m keeping to a budget.

One thing I’ve noticed while operating under a budget, however, is those pesky “one-time payments.”

It’s so easy to feel OK with these payments because it’s just one time! Had to get my car fixed? All good, one-time payment. It’s my dad and brother’s birthday in the same week? No worries.

I have to renew my car registration? OK. My friend is getting married and I have to travel out of state? Well, now it’s adding up…

It’s frustrating when you’re doing a good job curbing your spending and these things keep popping up. It is fair to call them one-time payments on the surface, but when they keep popping up, you realize you need to create a whole new category for them within your budget.

Rent, utilities, internet, phone, groceries, one-time payments. Look at how much these “one-time payments” add up to and find the average. Build that into your budget.

As long as these payments don’t get out of hand, it’s possible to have enough money for everything you need at the end of the month without having to maximize your salary (i.e. constantly job-hopping or finding side gigs).

Time is your most valuable commodity. You can spend less and still be happy. I promise.