Since I track my expenses approximately every two weeks (Payments are semi-monthly), I will give a report on my spending. I don't create a budget because they have never worked for me and is not sustainable. Rather I choose to not spend any money that is not necessary. All my expenses are being tracked at www.mint.com and I have a convenient app on my phone.
For the last two weeks, I have spent the following amount that is not a fixed expense:
- $ 10 ITunes (this was before I chose to stop spending, although music is quite important to me)
- $150 in groceries
- $30 Gas
With the two paychecks I have received this month, I have been able, so far, to save $400 and put $975 towards my debt. I'm happy to say that I have paid off my credit card and I only have my line of credit left to pay off. I have been able to save that amount due to a visa gift card I had received from my parents for Christmas. I decided to use it wisely instead of spending it on something I didn't need. I have also sold some used items using a local website. My goal is to save $1000 to go towards my emergency fund. I realize it would make more sense to put the money towards my debt but for my own personal reasons, I would prefer saving simultaneously while paying my debt off.
I track my fixed expenses for each paycheck on an excel sheet, very basic, but it reminds me what I need to pay for in the upcoming months and usually track up to 3 months in advance. This gives me an idea how much I could potentially save and I transfer that amount into a savings account. I only leave an amount that I feel is reasonable but will also make me think of every purchase.
An exception this month is I have agreed to go to a NHL hockey game a month ago and get takeout before the game. I still owe money on the ticket but is fortunately only around $40. Considering how well I feel like I have done so far, I'm going to go out, enjoy myself and not worry about this expense.
For the last two weeks, I have spent the following amount that is not a fixed expense:
- $ 10 ITunes (this was before I chose to stop spending, although music is quite important to me)
- $150 in groceries
- $30 Gas
With the two paychecks I have received this month, I have been able, so far, to save $400 and put $975 towards my debt. I'm happy to say that I have paid off my credit card and I only have my line of credit left to pay off. I have been able to save that amount due to a visa gift card I had received from my parents for Christmas. I decided to use it wisely instead of spending it on something I didn't need. I have also sold some used items using a local website. My goal is to save $1000 to go towards my emergency fund. I realize it would make more sense to put the money towards my debt but for my own personal reasons, I would prefer saving simultaneously while paying my debt off.
I track my fixed expenses for each paycheck on an excel sheet, very basic, but it reminds me what I need to pay for in the upcoming months and usually track up to 3 months in advance. This gives me an idea how much I could potentially save and I transfer that amount into a savings account. I only leave an amount that I feel is reasonable but will also make me think of every purchase.
An exception this month is I have agreed to go to a NHL hockey game a month ago and get takeout before the game. I still owe money on the ticket but is fortunately only around $40. Considering how well I feel like I have done so far, I'm going to go out, enjoy myself and not worry about this expense.