Mandy - ahem, that $1000 is after I already returned about $950 in Jewelry (but only because they were not a good value or just didn't work with my own pieces). I do love jewelry and gemstones and I am part gemstone collector and part jewelry junkie. I am replacing the money, already got the first $500 through a side hustle and as of today I know for sure that I can replace the second $500 with an $200 extra in July and $300 in August. Damage control - check!
I had promised myself a sabbatical, at least until January of next year, so I am not very happy with myself right now.
I have a few gemstones that I bought for investment purposes about three years ago. I knew it was a high risk to take, one I had absolutely no business taking in the first place - but I did and it looks like it will pay off. I just got lucky, but it's not something I will risk again. It was foolish but a huge rush - because I just knew:) that the values would rise:) and they did.
June saved $500
blew $1000 on jewelry - 6 months seems to be the longest I can go without caving. Already started a sidehustle which will net me $500 in July and I'll see what I can do about recapturing the other $500 so I'll stay on track.
Bottomline - $5000 cash now - July will be 1500 plus an extra $ 500 from a sidehustle. Still need another $500 to recapture the funds I blew on Jewelry.
Working on finding a good place to park $5000 emergency fund - not sure if Union at 5% would be a good idea.
If you know you blew it, and you know you caved, is there any way to return the jewelry to get back on track? Would this make you feel better and prevent another cave? I'm the kind of woman who wears a watch and two rings (for a total spent of less than $100 over the last 8 years), so I would find it hard to stomach a purchase that was 33% of my monthly take-home pay.
I get your point, Mandy, but jewelry and gemstones give me such joy, that no, I'm totally thrilled to own a beautiful collectors piece. That guilty twinge is only a fleeting moment. It is the fact that I blew my own plan that totally ticks me off. I know it is a good and important plan and I aim to stick with it. It showed me that I need to not just get, but keep my priorities straight.
To answer your question "Would that make you feel better?" Replacing the money will make me feel a lot better. Actually, I am about finished with my jewelry collection. I set out to complete some pieces I had bought over the years, adding a ring or an earring to turn them into a set. I also have a small list of new pieces I really wanted which I have been patiently aquiring - hunting for a good deal takes time.
For me it is mainly about the gemstones, there are only a couple of rare gems that I would still like to own, but those are expensive enough that I am not even thinking about getting them until I have a full years worth of living expenses in my account.
If I get lucky and it looks like I will, I should be able to sell off one of the gems I bought for investment and recoup a good chunk of what I spent in the last 3 years.
At heart I am a rockhound and if you give me a pretty stone you found by the river I am as thrilled as if you had given me an emerald - I just love rocks:)
Don't get me wrong, in terms of the jewelry and gemstone world mine is just a small collection, but it is exactly what I have always wanted and I derive great pleasure from it - sort of a bucket list if you will:)
So I guess in essence I have two conflicting goals and that is the real reason I caved, because my hearts desire is with the gemstones and my brain tells me I need to save up one years worth of income. ... and I will do both, even if it is a "rocky" road for me.