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Balancing the Budget & Other Stuff

September 11th, 2007 at 10:22 am

Whew! I have spent most of the morning figuring out the rest of the bills that have to be paid and how much can go toward debt. It actually made my head hurt a bit and I ended up walking away for a few minutes. I came back with a clearer head and got everything squared away.

Here is a quick rundown of financial happenings here since I have posted last. Dh's bonus came to $147 more than expected so with $3 I was able to return all the money to the EF. The electric bill was $120 or about $30 less budgeted. I have about $300 between dh's bonus and saved money to add to the debt. I will update the totals after everything posts to the loans.

Basically I expected to have little or no money to add toward the debt this month. Obviously I am thrilled with have $300 extra. It helps to keep me going especially when I am tempted to buy something I do not really need.

Today will be No Spend Day #6 for this month. I am well on my way toward my goal of 15 NS days. For me that is the key to saving money and paying off this debt. I have been tempted to check out some clothing sales, but I want to inventory my closet and see if I need anything. That will be better than just mindlessly buying clothing because it is on sale.

My next financial focus is going to be on the upcoming holidays (Thanksgiving, Christmas). I hope to estimate how much we will need for the holidays so I know how much more I have to save up. I want to do all cash this year and absolutely no charging or dipping into savings.

I think that covers everything recently. I do want to get back to posting more regularly as that helps keep me motivated and gives me a sense of accountability. Unless some unexpected expense comes up this month things should end on a positive note.

1 Responses to “Balancing the Budget & Other Stuff”

  1. Nancy Lewis Says:

    People always have a dim view of the word BUDGET. It implies total inflexibility. YUK is the attitude -too hard.
    I believe that a budget is meant to be reallocated each month or on a regular basis.
    Yes there are FIXED things like mortgage or debt repayment,house and car insurance, house taxes & maybe sewage charges in some areas ( (don't have sewer/water -septic and well, no debt, no mortgage luckily)We never had zero down mortgages, 25% down and a credit check b4 getting a mortgage.
    To some extent heat, hydro, water, can be controlled. Am on well so water not an issue.
    Sorry don't mean to lecture, but it works well for me and does take time to keep track but is well worth the peace of mind.
    Decided not to hook up when water came into our subdivision as well is pretty good even to fill the pool in spring if done gradually b4 having opened.
    Food shopping specials are a regular as well as senior's days discounts, but only if I need what is on sale.
    I track all my banking, both Master card,checking and savings on line with my Microsoft Money program and enter any bills when I come home. Often check to see on line my info and online accounts agree. Master card is viewed on the billing day, promptly go on line, set up transfer from savings 2 days b4 payment due, pay the day before. Have never in my life not paid a credit card on time and only have 1 !!
    MS Money allows you to categorize your budget for incoming money (as well as outgoing) (for me with no private pension, is primarily CPP and OAS and some investment income for emergencies.
    Have any bills like phone, internet billed to card as earn points that I use for free food shopping when reach the $20, level or save to the $30 level if don't need anything much for $20
    Drive an '88 Toyota wagon, don't need a new car yet, have never!! spent any major money on this car, so need is the rule not want. Don't even WANT a new one. When this one packs it in, have the cash in the bank to pay it in full
    I am frugal, I don't believe cheap just like to get the best "bang for my buck" Actually got nice little surprise yesterday, a nice brand new $5.00 bill for filling out a survay on line, that I had completely forgotten about - goes in my mad money jar!

    I feel badly for people that have ended up in a bad debt state, but in 90% of the cases is due to "I want it and I want it now" mentality so common these days. Not "do I really need it" - guess is my upbringing being a newly anointed senior,& times were different, and have no inclination to change this habit.
    Thanks for lending me your ear to rant on!
    Nancy Lewis
    Oshawa Ont

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