Awww the month is half way complete. It’s really hard to believe that time is passing so quickly.
Fast times can result in fast spending so slowing down to feel the burn is a lot of work. But we are hanging in there and being very intentional about our spending and our income. Getting out of debt is important and so is building your income. I plan to add posts soon about ways that we are building income, so more to come soon!
In my effort to encourage others to monitor their spending on a weekly basis, our week 2 roundup is below. Overall we did pretty well and hopefully we can keep our spending to a minimum and maximum our savings.
So here is our recap:
Grocery – Goal: Budgeted $100. Result: Spent $100 in cash This may be surprising for a family of 3, but it has taken awhile to develop a system that works. With this system I am able to plan 4 meals a week, fillers (food for when a meal can’t be quickly prepared), and breakfast food. I am working on a post this week that provides all of the details!
Household – Goal: Budgeted $40. Result: Used cash and came in under budget. Nothing amazing here. We just try to minimize frivolous spending so that we don’t go overboard.
Eating out – Goal: Budgeted $35. Result: Passed. Again just by watching our activities we didn’t overspend in this area this week.
Gas (automobile) – Goal: Budgeted $100. Result: Failed. YIKES!! What is up with the price of gas…did something explode…is there a shortage!? This week we overspent by about $40. My hubby’s job requires more travel than most so this is a category that we can do little about. As for me, I try to limit unnecessary driving–that’s kinda easy but still this is a category that can easily get out of control.
There are two categories that I failed to mention in last week’s post that are very important to me–tithing and saving. I am a Christian and I believe in the power and the protection of tithing–but more than anything it’s about obedience. Each week I tithe (I am paid weekly) and give to my local church. I believe in the outreach that local church’s provide and it’s important to be apart of that success! Saving is also critically important to me and for some time now we have used the convenience of automated savings to help discipline us in this area. Most people are not driven enough to regularly pull money from their account and send it to a savings account. If you are like me, I strongly recommend using your bank’s automatic transfer tools to set up a weekly or monthly amount that you will not need to transfer back into your checking account.
When I first started the amount was just $25/week–most people can survive with less than $25 a week. So if you have not already, make a move similar to this. If you find that the amount is to much, roll it back a little, and the opposite is true–if you discover that you can do better, roll it up by $10-$20. The goal is to get started!
How is your spending going so far this month?