Create a budget and stick to it

I’m doing this. Even after ahem a blip on the financial radar today, I’ll still break even (including the purchase of a new gym membership and a ski trip – which dad is really amazingly helping me pay for).

After that, I will kick into savings mode. This is good and a real improvement on the status quo. I won’t owe ANY money to the flat account, which is the biggie for me. Progress, not perfection (but I will reach perfection with this goal before the year is out!).

I feel a million times better about this goal. I sat down and waded through my financial situation, and was able to come up with a decisive plan of action that can be easily implemented in about half an hour (which, I must admit, has led to further pangs of guilt for not just biting the bullet and doing it sooner).

The vital factor for me when it comes to money is simplicity. There are other areas of my life where I delight in the complex, but money matters just don’t fall within that category. My plan involves limited action on my part, and really just requires me to be self-disciplined. If I’m leaving my cards at home in the morning, there’s no reason why I can’t be.

What I’ve essentially done is recognised that I earn different amounts for different pay cycles. The non-negotiable is that my rent has to be paid each week, as opposed to just with my larger pay cheque. On Thursdays, I’ll prance across to the nearest ATM and withdraw my discretionary spending in cash for that week. And that’s it. Finito. No more. The only time my debit card will be making an appearance is when I do my fortnightly supermarket shop. This will also help me re getting into a good routine with meals, etc. I’m working from the ground up.

I love the simplicity of it all. It is, as engineers would say, an elegant solution. Week One begins next Thursday, and I’ll report back then.

It’s official. I have had ENOUGH. I am sick and tired (yes, sick and tired) of being in financial turmoil, with my bank account constantly on the brink of cardiac arrest. After a recent chat with Karen about the amount of time and energy we invest in not doing the things we want to, I am taking a stand against my own lack of motivation and general wave-riding in this area.

1. Clear all debts (flat account). done
2. Calculate sources of income and when I receive them, and total income. done
3. Calculate fixed expenses (rent, food). Keep that money in WP account. done
4. Set an amount of money for discretionary spending. Take Lover Boy’s advice and withdraw that money in one lot. Move all other monet into NB acocunt. done
5. Take cards out of wallet and leave them at home. will be done from next Thursday, when this starts
6. Set aside a day (probably Thursday) for reviewing all things money-related, and updating goals. done – noted in diary and on calendar

That should do it. My self-directed frustration over this is at the point where I need to take action now. This is a good, simple start that is focussed on actually taking positive steps as opposed to just talking about them, which is all I seem to do in this area.

Right now, my budget consists of putting aside whatever I think I can spare for savings, and then chewing through the rest of my pay cheque throughout the week on largely indulgent purchases. The upside of this is that I am saving, a rare phenomenon indeed.

Sigh. I am giving up on this until the summer when I have a 9-5 job at a swanky government department, and am thus shamed into budgeting by the fact that I am considered by the rest of the world to be a working adult, and that is what working adults do.

Going to have to put this one on call waiting until I have a clearer idea of my income. It’s very all-over-the-place at the moment.

Should be in a better place to complete this by mid-July, and until then I will try to practise the mindful art of frugal living.

• $35 for mending of jacket
• $_ for drycleaning of jacket
• $30 for savings
• $_ put toward layby to pay off the mouth-watering bag (note to self: do not be greedy and attempt to use all funds to pay off bag so that can have it now. Instead be rational and realise that will require money to actually live for the next week without resorting to living off soups-in-a-cup, solely of the tomato flavour, as have done this week)

Will do a further rough budget once am paid.

Gah. The problem I have with budgeting is that a) I just can’t and b) at the moment my income and expenditures are variable and contingent on extraneous circumstances.

What I do know is that this goal must be completed before the end of the month, and that my budget needs to include a list of the future purchases I wish to make in order of priority so that I do not layby a spectacular $300 plum-leather backpack before I fork out a comparatively low amount for good skin products.

I really do wonder at myself sometimes. And not in a good way.