I loath to admit this, but I hate working out budgets. I know they are important, I know that to effectively manage your finances a budget is a key tool. But I HATE them. I just hate feeling so restrained with being able to spend money.
I have live my grown up life with this philosophy. Pay bills first, buy groceries next, and the rest of the money is mine to spend as I so choose. This has obviously not left me with a lot of savings. It's frustrating because I am now seeing the importance of savings but at the same time I still like to have things to entertain myself with.
I have made a decision though, as of this moment, meaning the Month of August I am on an allowance. I am allowed to have $200 in spending money a month. This spending money is to be inclusive of my gas money as well. It will not cover things like oil changes and maintenance on the car but gas money, coffee money, buying movies, going out money will be limited to this $200. I have to start living within this very small amount so that I can pay off my bills and start a savings. Granted this will have to be altered a bit if I start subbing and have to drive more than I do or if I start working again because then I will have a bit more money to work with. For now though and until I have a full time job, $200 a month is my spending money. That is it that is all. Let's hope I can stick to this!!!
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13 years ago
I also hate budgets and Greg is all about them. We revisit the budget every time we have a lifestyle change so to speak and are now redoing our budget now that I am on maternity leave.
ReplyDeleteThe allowance is a great idea and something we have been doing since we got married. We have a joint allowance, and they we each have our own personal allowance. The joint allowance covers gas, groceries and misc expenses for the kids and pets. The personal allowance we each get covers things like lunches, coffee, movies, going out for supper, clothes and what not.
People always laugh at us for having an allowance but i think its smart and all our bills are paid, investments done and money in our savings account.
good luck with the budget and allowance jen! it sucks sometimes but in the end, it is what it is.