Welcome to tracking of income and expenses for the month. Please note that I get paid on the last day of the month so my cash flow net effect will usually be negative until the last day of the month.
This does not mean that I am adding to my debt, it just means that the money coming in is less than the money going out because bills are due starting on the first but I don’t get paid until the last day.
So again to clarify (since I get so many questions), this shows the cash FLOW for the month. On Day 2 of every month I will have a negative FLOW because I have paid rent etc so money has LEFT my checking account. I have not had any money come in on Day 2 of the current month since I got paid on day 27 or 30 or 31 of the previous month so that income is counted for LAST month.
Income for the month to date: $146.33
Expenses for the month to date: $1462.06
Net effect: -$1315.73
Since the last posting I have gotten $28 in income from advertising on the blog so I am very happy about that. I was not even expecting this money so it is going to be a snowflake payment towards my debt later on at the end of the month.
I spent $102.69 on groceries, which leaves me with $27.31 for groceries until the end of the month. This does not include things like household items or toiletries so I am in good shape there. I also have $30 budgeted for eating out so I suspect I will be getting some $5 footlongs from Subway to make up some lunches. I only eat half of the footlong for a meal and drink water with meals so the $5.41 (tax included) will get me TWO lunches for work.
I have not spent money on gas yet but I am going out of town this weekend and only have a half tank now so I will need to fill up to make it through the rest of the month.
Rent is fully paid along with associated costs like apartment insurance and water and since I got a $5 discount on the rent that amount is staying in the ING Electric Orange account to form a buffer for unexpected occurrences.
I will see you guys and gals later as I continue my journey to save money and become debt free!!!!
Hahah Glad to know that I’m not the only one who buys the $5 footlong deal and then saves half for another meal later. Love Subway’s deals… =)
Why not start with your last paycheck and have a positive balance. That would not be misleading.
There is always a positive balance in my checking savings accounts. The negative number you see is the cash FLOW for the month. I begin my month on the first day of the calendar so cash FLOWS out by the third because I pay rent.
My bank accounts are not in the negative…my cash flow is negative because I do not have money FLOWING in until the last of the month.
Great blog you have here! I’m going to try some of your ideas!
Along the lines of saving money, I’d like to offer information on a new social network that is totally free. You can Save Money when you shop online from 400+ of the largest retailers and you can make money online when you invite your friends.
With best internet pricing, cash back, free music, videos, news, sports and even free cell-phones, it really is one of those “no brainer” decisions.
I’m putting together a blog about it, please check it out and let me know what you think. My blog is at Blastofften.com/blog
Thanks!
I often don’t give too much thought to the different ways I can save on everyday items. With your ideas I seem to have more left at the end of the month. Thanks.
Thanks for coming by and reading the blog and it is interesting to know that my tips help you to save money…even in some small way.
If you have tips on saving as well you might want to share them with my readers!!!!!
Nice job moving along w/ the saving and debt fighting. Besides the $$$ you save with the water-only diet, you’re also doing a service to your health. I’m a pretty lazy guy, and I have a feeling the only reason why I’m not entirely overweight/unhealthy is because I keep to water only (and occasionally milk + OJ, I suppose).
Ive started tracking all my expenses through an iphone app, allows me to keep track of what im spending as soon as I spend it. Thanks for the great tips