The math on my weed bill

I’m in love with Mary Jane, but she’s expensive.

Photo by Budding . on Unsplash

Last year, I shared that marijuana is among my biggest money pitfalls.

But I didn’t know how much damage my beloved Mary Jane was inflicting on my pockets.

I could only spitball a ballpark estimate for what I spent each year. I figured my vice cost me about $2,000 annually. But I wouldn’t be surprised if the figure is substantially higher.

We’ll see if I’m right.

I’m removing the guesswork. This year, I’m determined to learn the toll.

I’m tracking my weed purchases for the first time.

It’s not something I would have done in the past. There’s no faster way to blow a high than obsessing over how much it cost to reach that blissful state.

But the thought of journaling my dispensary totals makes me reconsider how much cash I care to hand over each trip. The exercise has become an unexpected guardrail that protects me from self-sabotaging the second I sniff the smell of sweet grass.

By year’s end, I’ll also have a handle on exactly how much I’m spending on marijuana. It’ll help me budget for that recreational activity like any other rather than splurge whenever I run low, which was my pattern.

The goal is to become a smarter spender.

That’s why I’m not simply tracking how much money goes to marijuana. I’m tallying the price of paraphernalia too. Everything from smoking papers and vape pens to lighters and ashtrays. I’m documenting it all.

And through the first quarter of 2024, my guesstimate isn’t far off.

These are not good money moves.

I’m on pace to spend $2,400 this year on marijuana and marijuana related purchases.

I almost made it out of the first quarter of 2024 at a more acceptable pace. But a $203 visit to a dispensary on March 30 tripped me up. A new vape pen and two packs of smoking papers added $45.80 at the end of the period, putting my monthly average at $199.96.

For all the reasons I enjoy smoking in my spare time, it’s hard even for me to justify $200 a month. That’s on par with my car note and monthly grocery bill.

Until I started tracking my finances, I never would have thought marijuana would have been among my top-five expenses, with housing still topping the list. When I view my recreational hobby in that light, I can’t help but consider ways to cut back.

I’ve learned that lower prices, however, can be a problem for me. The better the deal, the more I want to buy, which means the more I end up spending. And the bigger my stash, the more I smoke. Which means I run out faster and race right back to the dispensary.

I’d benefit from a smoking schedule as much as I would from a budget.

But for now, tracking my purchases is my first step.

To maintain my aggressive investment strategy, I have no choice but to be smart with how I manage my take-home pay.

Regardless of my love for marijuana, it remains a liability until I can comfortably afford its cost. It’s like any other luxury item.

And my definition of disposable income has evolved. I used to think disposable income was money after bills that I could do whatever I wanted with.

That was when I had no assets and wasn’t interested in acquiring any.

Now I know better than to call my dollars disposable.

We’re on the ground floor of the accumulation phase. We’ve got a long way to go.

But if I ever need $2,500, I know just where to find it.