Create a budget

We need to get a handle on our finances.

the budget isn’t going as planned. Still have apx $320 in bills. Factor in at least $200 for living expenses and i don’t think I will be hitting the $500 christmas shopping goal. I’m thinking I need to go back to work. J doesn’t exactly agree and it will be rough leaving the kids again but there are just so many medical bills and who knows how many more are coming. Maybe even just working weekends will help out enough to get through this rough patch with the finances.

I did a little impulse spending today. Nothing particuraly wasteful but not an absolute need. At the end of the day the damage was under $50 but I’m still feeling guilty. I was hoping to make the 90 I had leftover last until next Saturday at least…

All the immediate bills are still on track accept of course now we will have more medical debt. I’m really getting tired of almost getting in the clear just to have another obsticle come up. And Christmas is coming up… do I pay them and short change our holiday or give them just enough to squeak by and have them lose faith in me being an out of pocket patient????

Everything should be paid this month but some dates have been rearranged.

10/08 Rent
Insurance

10/15 PF
Scholastic Home Club

10/22 Double CATV bill

10/29 New Goal of $500 for early Christmas shopping.

First paycheck of the month went in today and theres next to nothing left. :) lol Go figure!

I did spend unalloted money. sigh but it was through bookorders for the kids. I spent an even 30. I sorta regret it but at the same time it’s books and it benefits the classroom! Ugh I guess a part of me still feels the need to buy to keep up appearances. I mean, books are in libraries after all….

So looks like our scholastic home club payment is getting moved to next week!

10/01
Late RentScholastic (through the schoolPersonal Loan

10/08 Current Rent
Scholastic Home Club bills

10/15 Insurance
PF

10/22 CATV (double bill)

10/29 Christmas Shopping (apx 300)
Weekly expenses allowance $125

Entertainment/ETC (pre discussed and approved)
Week 1 : Nothing. I bought the kids books!!
Week 2 : Halloween shopping (costumes, etc)
Week 3 : vacation weekend (i doubt it but should he get the extra hours…)
week 4: Haunted Houses, farmers festivals
Extra Expenses/Needs (should money come up)
CLOTHING!!!

10/01 Late Rent
Scholastic
Personal Loan
10/08 Current Rent
10/15 Insurance
PF
10/22 CATV (double bill)
10/29 Christmas Shopping (apx 300)

Weekly expenses allowance $125

Entertainment (pre discussed and approved)
Week 1 : undetermined (possibly farmers festivals?)
Week 2 : Halloween shopping (costumes, etc)
Week 3 : vacation weekend (i doubt it but should he get the extra hours…)
week 4: Haunted Houses, farmers festivals

Extra Expenses/Needs (should money come up)
CLOTHING!!!

Tithe: 10%

Savings: 60%

Expenses: 2% cell phone, 8% car payment, 9.4% rent
Total: 19.4%

Leftover to be put into checking: 9.6%

Sweet.

Now I just have to live according to what I set up. I think that’s the hard part…not so much creating a plan.

I am a certifiable right brainer. Numbers, figures, and budgets have never been my thing. I use my debit card to pay for everything, I toss receipts, and I can’t tell you the last time I sat down to balance my checkbook or double check my bank account. It goes without saying, the nitty gritty of finance is SO not. my. thing.

Perhaps that is how I find myself in a significant amount of debt. Nothing inescapable, but a formidable opponent nonetheless. Truth be told, much like every other college idiot, I signed on the line for my first credit card around the age of 19. My first “purchase” was a cash advance I took out to spot my boyfriend-at-the-time some much needed money he HAD to have in order to buy a sound system for his car. He borrowed it with the intent of paying me back, but when repayment was brought up down the road, became irate and claimed it was a “gift.” Ahh…the naivety and a—holeyness of youth. What splendor!

As time went on, I realize using plastic didn’t hurt the same way doling out cash from my measly paycheck did. Slowly it began to add up. Now I find myself, 10 years later, still carrying around the sins of those “carefree” youthful days. A tank of gas here, a new dress there. And I am more than ready to unload the burden I have been carrying (and shoving in the closet, on the shelf, anywhere I don’t have to think about it…) for way too long.

After doing some initial research on reducing debt, it seems all experts agree step #1 is to formulate a budget. While I may not be a numbers person, I am an excel person, and was pleased to discover that excel offers a variety of personal budget worksheets already configured to help you gauge your spending habits, and establish a functional budget. I chose an worksheet that has an “estimate” column, wherein I can estimate my “worst case” and then plug in the “actual” figures as the month progresses.

As part of this process, I have to train myself to be a receipt saver. I have decided to keep it simple, and threw an envelope in my purse. Receipts from any purchases between now and the month’s end, will be tossed in the envelope and ultimately entered into the spreadsheet.

I also ran a free credit report (www.annualcreditreport.com) on myself to see where I stand. I believe everyone is entitled to 1 free credit report check per year.

Additional resource (awesome debt to payoff calculator) at www.creditcardnation.com .

but I find it is even harder to have a budget when you have money in the bank. Anyone else in the ‘why not?’ mindset?