Welcome to How I Save Money and tracking of income and expenses for the month.
Income for the month to date: $754.34
Expenses for the month to date: $2317.62
Net effect: -$1563.28
Well I must say that things look a little better this month with regards to income because President Bush stimulated me. Get your minds out of the gutter….I am talking about the economic stimulus rebate money. I got mine and sent most of the money over to the Citi credit card so I could bring the balance down. This is the card I am tackling in my debt snowball payoff so every time I get in some extra income I snowflake it over to the card.
I sent $500 as a snowflake payment to the credit card and I put $100 in my Never Go Back to Fresno Fund . It will end up stimulating the economy at some point in time because gas prices are just getting more and more ridiculous and I am sure over the summer I will have to increase my gas budget again.
Thank you president Bush for the contribution to my debt payoff and the contribution to my emergency fund!!!!
I will see you guys and gals later as I continue my journey to save money and become debt free!!!!
You made a really smart move to put your stimulus check toward your credit card! I think it’s hard for a lot of people to take this “free money” and send it straight away to someone else — or some company. But ultimately, you’re improving your situation for the long-term so kudos!
For the folks who are fortunate enough to not have credit card debt, there are a lot of other smart ways to use your stimulus payment from the government. I’m putting my $600 into my savings account to really boost my chances for weathering a rainy day. It’s nice to see that balance go up a lot (at least, a lot for me) in short order! If you’re good with your savings, why not use that money to do something you’ve been wanting to do, like make some inexpensive home improvements? Whatever you do, use this money to help YOUR situation. For more ideas, check out this article on 8 Smart Ways to Use Your Economic Stimulus Check: https://www.quickenloans.com/mortgage-news/8-smart-ways-to-use-your-economic-stimulus-check-5343.
Hope I didn’t miss this and am putting my foot in my mouth….but….
I know you get paid at the end of the month. Yet the funds pay the next month. Why not alter your numbers to show income in the month being expensed. So, your not looking at a negative all month.
I guess I just feel a negative, begots a negative. I think it would be more motivating to see positive numbers.
@ Dedicated:
The money goes into my account on the last day of the month and it is instantly available. It would show a positive cash flow situation for the month if I show the money as being received on the first of the following month….but it would not really be a true reflection of my actual cash flows.
I prefer to record each inflow and outflow on the exact day that it happens just to keep my numbers straight. 🙂
@ Ann-Marie:
Thanks for stopping by and I feel relieved that I got the card down by that amount. I really want to get rid of that credit card debt.
I am also glad for Bush’s stimulus plan. All of it has gone to pay off debt. We ended up selling our Volvo which led to a lower insurance premium and saving money on gas. Life’s good!
I’m glad to hear your stimulus check went to pay off debt. More people should be doing that! I will have a hard time saving mine. It’s so easy to want to spend extra money.
Well Lindsay,
I really did not have much of a choice. The debt is there and it is not getting any smaller…..so I guess I need to send my apologies to the president for not doing what he intended. 🙂
Are you saving up an emergency fund?
Hilarious.. that’s the first time I’ve heard George Bush stimulated anybody? 🙂
Congrats on paying down your credit card… While that’s not stimulating the over all economy, it will help your personal economy.