Create a budget and stick to it

I’ll soon be back to having a paycheck that will go far enough to allow me to pay down debt and put away something for short- and long-term savings (I think so, anyhow).

Living paycheck to paycheck as an adult was kind of an eyeopener. Not a terrible place to be as a college student with few worries, but as an adult, not fun. And it made me kind of throw up my hands and avoid budgeting much – because even when I did, there was no real savings at the end of the month. I budgeted just enough to make sure I could pay my bills, and that’s it.

I desperately want to live WITHIN my means, now that they’ll be more respectable.

ETA: I’m trying out the various online budgeting software(s). The only way I’m going to be able to do this intelligently is to face the whole picture (student debt and all).

I’ve created a budget that should work. Now I just have to stick to it…. to be continued.

From this new year I’m not gonna use any credits cards at all, just cash! I’m gonna create a budget and stick to it to!

Sticking to a detailed budget has never been my strong point but I seem to have come to a happy compromise with myself about weekly spending on food and non-essentials. What with holidays and Christmas I’ve not been saving much the past couple of months and that is due to continue with some big expenses coming up.

I also think I’ve had a bit of a change in outlook when it comes to balancing daily pleasures against savings in the bank, and now that I have a decent buffer set aside I feel better about letting myself have things that are going to improve the quality of my day-to-day life and especially encourage my creativity.

So the main thing now is to make sure I am not wasting money, and to live within my income over the long term.

I now have hubby in agreement we will create the budget from ONE income, although we have two. That way if we have spill over, we will work harder to eliminate it so we can comfortably live on just one income in addition to the other, and the other can be used to further pay down debt, donate to charity, etc.

As far as the actual numbers and budget categories….we’re still bickering over that…lol!

Okay so now I am trying to keep track of all my expenses on mint.com, it’s a free financing website that allows you to create a budget and I have linked it with my bank, 401K and credit card accounts. it’s great because it sends me email alerts when I spend over my budget or when my balance is low. i think this may be very helpful to me because I often don’t pay attention to my spending. Also I decided as part of this budget to completely stop buying alcoholic drinks at bars, clubs and restaurants unless it is a special occasion. I am going to eat out less and when I do try to find cheaper restaurants unless again it is a special occasion. I am so proud of myself because I even put some effort into finding a cheaper hair salon to get my haircut. I am doing good!

Okay so step one for me for my budget was to get a second job. I don’t really make enough money at my full time job to be able to put any money aside for savings (which I figured out after living paycheck to paycheck). I made a preliminary budget and found that I have $50 a month for nonessentials. Now, $50 extra a month is probably a lot for some people. But I like to go to the movies once in a while, and maybe go out for dinner. So if once a month I went out to dinner or the movies, I’d be down to about $20 extra a month.

So anyway, I am starting my second job today working part time for a catering company. I’m nervous because I haven’t worked in the food service industry for over three years now, but I think I’ll be fine. I did a horrible job hemming my tux pants though…lol.

Once I get in the rhythm of this new part time job, I should be able to create a more workable budget and be able to stick to it. It’s very hard living somewhere where the cost of living is so high that I really don’t make enough money to live at all.

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.

I’ve been spending like crazy for the last year. I need to hold it in and do my best to stick to a real budget.

Ish. I need to contact my student loan folks and hopefully apply for a different payment plan. The one I am on right now does NOT suit my ability to pay. Right now, the budget is very tight. However, I have included a slightly more generous grocery allowance (because a lot of my entertainment comes from cooking), and also built in monthly payments to my parents and my credit card. I’m also trying to underestimate my take-home pay for this new job; that way, if I make even a smidge more, I will feel wealthier.

However, I think the budget will continue to be tight until I get a better job. That’s just the way it will be. It should give me more motivation to get a better job, hopefully.