I have decided to post my weekly spending for the previous week on Fridays so you know how my cash has been flowing for the week. 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: $13.84
Expenses for the month to date: $1225.88
Net effect: -$1212.04
Since the last posting I spent $92.56 on clothes for work and this gave me a total of 2 pairs of pants and three shirts. I am pleased that I got 5 professional grade items of clothing at an average of $19 per piece, since everything was on sale. This has caused me to go over the budgeted amount for the month but that deficit can be covered by the splurge fund and will even things out again.
I also spent $16.67 on eating out as I took a friend to Chipotle to celebrate the end of Easter and our respective sacrifices and fasts.
I sent off the first half of the car payment for the month and also sent off part of the payment to the credit card that pays the internet bill. I do not count this credit card payment as a part of debt because I am already counting the internet bill as debt when it hits the credit card. I simply record that transfer in ING as a transfer payment so that I do not count it twice.
The car registration bill came in the mail and luckily I have enough money in the car maintenance fund in ING to cover that expense. I went to the car wash at a cost of $6 this week because the car looked a bit dusty after being on the highway last weekday.
I received $9.05 from Lending Club and I decided to keep withdrawing money from Lending Club and applying it to the snowflake fund and then sending that off to my existing debts.
I will see you guys and gals later as I continue my journey to save money and become debt free!!!!
It must be hard budgeting with just 1 paycheck coming in at the last day of the month.
I actually find it easier to budget for the month because I only have one paycheck to worry about. I have certain amounts set up for each spending category, including miscellaneous and irregular expenses. I set up my zero based budget for the month and stick to those figures so I do not have to change my budget all the time.
If I set $70 for gas then that is my monthly budget. If I spend less (and I normally do) then whatever is not used is transferred to a debt payoff.
I budget for the month and get paid for the month so it easier for me.
Lulugal I was really amazed how you budget your day to day spendings. I idolized you so much 🙂 take care always
Vins
I am so amazed with the way you budget.. And you are right, since you are worrying ’bout only one paycheck, it is easier to budget. Lulugal, you are so good in budgeting!
– Forex Robot
And you are right, since you are worrying ’bout only one paycheck, it is easier to budget