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Financial Review

April 23rd, 2015 at 02:15 pm

Thank you all for your kind comments on my previous post. One of my goals is to be more accountable and more active around here. I'm feeling really good about how my accounts are all sitting right now.

Oil Savings (I add to this each month for the purchase of oil for the house) $835 and I just filled my tank and paid it off this month. Hoping the tank should last till midsummer.

Personal Taxes (I am self employed so taking off my own taxes, my break even goal is around $7000 after deductions) $3874

Misc Savings (This will be used for house upkeep, I will add down below our list of goals for the year) $4794

Mortgage Savings (I try to keep 2 payments ahead in this account) $975

Christmas 2015 $500

Large Savings (this hardly gets touched, will be kept in case of emergency) $18358

As for my debts my credit card and both line of credits are sitting at 0.

I lent a family member some money two months ago and should have that repaid by next month that totals $3000.

My goal for the end of the month is to be able to add another $200-$300 for both taxes and misc savings.

I started stocking away any cash I get or cash from anything I sell while decluttering for a small get away this summer with my dd and SO.

I was going to add my house goals and projects to this post but I think I will save it for another post.

I am feeling really good where everything sits right now, my income is due to drop mid May so I will continue to save as much as possible until that!

Reviewing the budget

January 8th, 2015 at 10:11 am

I went over my expected income vs budgeted amounts today and I am really hoping to be able to pay $1000 off my line of credit this month. I put $100 towards it already today, I also paid my cellphone/internet which was $7 less then expected.

I was hoping for a no spend day but need to run to the post office to mail a letter, I also need to pick up a few things for my home business.

This weekend will hopefully be low spend, going for supper with friends Friday evening, Saturday will be the normal grocery shop, and Sunday dd is invited to a birthday party. I have some stocked up items in my gift closet I purchased on clearance after Christmas so we will find something in there and dd will make a card.

I'm working really hard to use up left overs lately to, very happy with myself. Would love to cut back in waste!

Giving up on the envelope system?

April 14th, 2011 at 09:38 am

I've been trying really hard to stick to the envelope system and am having troubles with it working for me. I think I'm going to quit using it except for certain things, car maintance, clothes, babysitting, going out, but for things like eating out, misc, groceries etc I think I'm going to use debt. I'll still set my limits and write down what I spend but its starting to be a pain splitting up the money trying to split a 20 into 5s so I can fill an envelope. I don't have time to get into the bank to get the proper bills, hopefully this doesn't completely ruin my efferts and send me back into crazy spending! But its just getting a little to easy to spend those twenties, I'm homing it'll be easier to say no to swiping the debit card. Has anyone else tried and given up on the envelope system?

Budget Crazy

April 7th, 2011 at 10:55 am

Is anyone else budget crazy or is it just me? Almost once a day I go over my budget, my income, what has to come out, what goes into savings, how much I have left in each category! (my period key just broke so I apologize for the run on sentences and commas out of place lol)
I made some changes and added a new category to my budget for activities with dd I use to take this out of misc but I ALWAYS went over! Hopefully this works better it ups my budget a bit each month but hopefully it will work out with the overages, Tomorrow is pay day which makes me happy time to fill all my envelopes, pay off my cc for dds trampoline AND Easter shop tomorrow night! I have a budget of 100$ for Easter things for tomorrow I'm going to try VERY hard to stick to it. (it worked!) I already picked up 2 baskets, chalk, bubbles, and eggs to fill that I'm not going to count in my 100$ so total for her basket will hopefully be 110 or less! I had planned on giving her the trampoline for Easter to but she was with me when I picked it up and every day since we bought it she has to check to see if the snow is all gone so we can set it up! So excited! Well I hope everyone is having a GREAT Thursday!!!

Bad Start

April 3rd, 2011 at 05:53 pm

Well I had a really bad start to April, eating out twice, movies, treats for the movies, trampoline, grocery, gas. All out of my 150 over fund, and my misc savings and some on my cc. Looking at my budget and what I spend so far I feel like I've ruined April already and its barely even started! The trampoline was something I had planned to buy dd, I did put it on my cc just because I was to get some credit going so when I do decide to buy a house some day I have something they can look at. My plan is to put my whole misc fund onto my cc, and then put the rest on it when I get paid on Friday and to redo my budget taking into consideration the things I've already spent on for the month. Its times like this where it stresses me out being so organized with my finances/budget sometimes I wish I could just be like most other people and just spend when I want to spend, buy what I want to buy and not think/worry so much. But then I'd more then likely be in debt and worrying even more! So I'm going to stick to tracking all my money, where every cent goes, and trying to save as much as I can. I really hope I can go up from here and add a bunch of extra into savings finish off my large Ef and fund a weekend trip with DD in May! I hope everyones April is off to a better start money wise then mine!!

March Budget recap!

March 31st, 2011 at 09:54 am

Here is my recap of my March budget, I actually did half decent!! I'm going to list my budgeted amount first and then my actual amount spent!

Income: 1885
Other:1036
Total: 2921

Bank Fee: 12.95/12.95
Car Ins. 31.75/31.75
Tenant Ins. 21.83/21.83
Cell/Internet: 130/126.87
Life Ins: 48.38/48.38
Auto Savings: 75/75
Education: 25/25
Rent: 500/500
Misc: 100/137.91 Over by 37.91
Out: 40/40
Clothes 50/50
Misc Save: 100/100
Snow Removal: 20/20
Grocery: 380/376.17
Gas: 100/80
Eat Out: 80/65.60
Car Maint: 50/50
Extra Save: 100/1030 Extra 930 into savings
Christmas: 75/75
Hair: 40/40
Sitter: 20/20

Total Budgeted 2040 Total Spend: 1996.46 + 930 extra into savings.

I use cash for just about everything expect bills and gas. So if I have money left over it just stays in the envelope till I need it, like I did use my sitter money but I still put the 20$ in. I also go through my envelopes and take out any change left over from the month and add it into my change jar. I also make sure I have an balance of 150 in my chequings account at the end of the month anything else gets put into savings. I'm expecting a lower income next month and even lower come the summer so I may have to do some more adjusting of the budget. I hope everyone had a great March!!

Busy Day

March 24th, 2011 at 05:23 pm

Well tomorrow is the start to an early weekend tomorrow but that doesn't mean it will be any less busy. I have a bunch of appointments tomorrow morning, its pay day so time to pay bills and then taking dd for a fun afternoon! I'm getting so close to my 5000 goal I really hope I can scrape up the extra money and finish it next month.

I'm starting to look into school but am a little nervous about going into debt for it, taking time off from working, making way less and paying for childcare! Lots of decisions to make in the next few months, I just hope I make all of the right ones!

Goals

March 22nd, 2011 at 07:03 pm

I'm a 20 something single mom to a busy 2 1/2 year old girl! I am all about saving, budgeting, and staying debt free. I decided to start this blog to make myself more accountable with my spending. So here are my goals!

1) Baby Emergency Fund: 500/500 Completed Jan.31/2011
2) Large Emergency fund: 4606/5000
3) Christmas Account: 150/800
4) Misc Savings: 147/?
5) Save all extra change in my change jar till Dec.31/11
6) Stick to my budget, cut where I can, and use the envelope system.

Those are my current goals, I'm hoping to add go back to school soon. I'm doing pretty good so far I wanted to have my 5000 EF saved by Dec.31/11 but it looks like I'll hopefully have it done by April! If I make this goal me and dd are going on a weekend trip! Can't wait!!