Working the budget
by, 01-06-2009 at 02:56 PM (947 Views)
So, after spending several hours figuring what we are really paying out, I revised my snowball, and changed the dates I pay bills.
All bills are being paid on the 1st or 2nd. I have all except one bill in hand on the 1st. I am doing an estimate based on previous bills, as it rarely changes and paying it on the 1st as well. Should it be any more, then I'll pay the difference when I get the bill. This way, i have a working amount.
I have my grocery money for the month set aside. I have my snowball set aside. I will be doing 2 snowball payments, instead of one big one, in case something unexpected comes up, or forgotten without having to dip into the EF. I want that for real emergencies.
Having the grocery fund in advance will be fantastic, for stocking up etc. I just will set aside x amount weekly for the fresh stuff that needs to be picked up.
I'm excited in a couple months there will be a new Superstore about 5 minutes away from me! There's a Save On Foods just down the street that just opened, but I don't care for their prices. Superstore offers me a good selection overall, and has a decent variety of organics as well. And their prices are really the best in the city. Having it so close is going to be *AWESOME*.
I'd like to trim the budget but with 1 teen and another entering that stage and a husband with a bottomless pit for a stomach, none of who eat beans, it's a challenge. But if I can keep us out of the restaurants, that's a huge savings, $10 at home vs. 60 out.
So I might have to modify my 12 months to debt free, to 18 months, but we're still on the right track! Of course dh is getting a nice raise here in a couple months so that'll go direct to the snowball, and we do have money going into retirement fund every week so we're doing ok. I would just have rather had it all paid sooner, I have to slow it down a little and put aside money for taxes this year, as I made more than I ever have before(EVER), so I expect to have to pay a good amount..lol. OOPS. oh well. I'd rather pay some taxes and still earn more.
I just finished watching Til Debt do Us part. And it was very interesting. I can't wait until payday on Thursday, and start living on a cash budget. I'm leaving the debit/credit cards at home, except for banking days. I'm actually kinda doing that now!
Just checked my account, other than make deposits and one cash withdrawal, I've not made an interac payment since December 19th! I've not used Dh account since Dec 24 other than planned cash withdrawals and transfers at the machine. No interac. Lots less money spent!
I am really looking forward to see how much less we spend when we have a set weekly budget.
Other: $65/wk(cash, dog food and kid allowances, WW)
Entertainment: $0 - we borrow movies from library, friends, and find free stuff to do, even if it's just hanging out with MIL and FIL, right now in mild weather I plan on getting the kids tobogganing more.
We'll see. Gale always allots more for food, but we eat differently, and currently I'm very well stocked, so i am using that too.
Within my budget, I've rounded down what dh will bring in. Anything over that amount, I plan to put into savings, as our BEF isn't really large enough to cover a full month mortgage. I'd like to have 1 month living expenses in that account, utilities, mortgage and groceries, and whatever the current debt payments for the month, but those are going DOWN. So I'm going to quietly and slowly increase that. For my peace of mind.