Tracking My Finances In June: Day 16

Welcome to How I Save Money and tracking of income and expenses for the month.

Income for the month to date: $31.24

Expenses for the month to date: $1750.03

Net effect: -$1718.79

According to my Excel spreadsheet I have already paid off all the regular monthly bills except the bill for the LASIK which does not come until the end of the month. I am not paying this bill early because it is at 0% interest for the next three years so there is no incentive to get rid of it while I still have debt that actually carries an interest rate.

I have only gained $0.23 in interest from my money in ING , but this is because my savings amount is ridiculously small. Remember I only have a tiny emergency fund since I am making debt payoff a priority here.

While I was very happy to have a very low electric bill this month I know that it is going to shoot up for a few reasons next month:

  1. It is getting hotter
  2. I am spending more time at home
  3. My mother is coming to stay with me at the end of the month.

#1 and #2 tie in because while I am content to open the windows and run a fan in the 90+ degree weather, it would not be fair to have mother do so. In the first case my apartment does not have ceiling fans in the bedrooms so unless I buy her another fan one of us would be without.

Secondly she will be recovering from surgery and she needs to be as comfortable as possible.

I will see you guys and gals later as I continue my journey to save money and become debt free!!!!

Author: Lulu

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  1. How come you’ve only made $31 and its half way through the month? What do you do?

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  2. I get paid on the last day of the month so I can’t count my salary until that time. The money I make all through the month is interest, found money, ads etc.

    I do not reveal my salary amount but it works out fine because I get paid on whatever the very last day is.

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  3. I find it interesting how you pay off your bill for the month when you made 31 bucks so far. I realize it is the money from the last payday that you are using to pay with but still, somehow, I find it interesting.

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  4. Hee hee Mark. Remember that I get paid one day before the first set of bills start coming in (rent). I pay my rent with my credit card on the first….and then the payment goes through to the card online by the 7th…so I get about 7 days of interest income, while the credit card does not charge me interest before 20 days. 🙂

    I don’t count on the money I ‘make’ during the month from ad sales and adsense or finding money on the ground.

    I think the thing that helps me is that I have a BUDGET and I follow it. So regardless of when I get paid the money is set up on automatic schedules to go out to the various people I owe. It would get messed up if for some reason I happen to not get paid one month. Since I have direct deposit I do not see that as a major issue right now.

    If I do get another job then it would mess up the flow…and that would mean a few small adjustments to the cash flow situation.

    If I do get paid earlier in the month (like I think we will get paid on the 28th instead of the 30th this month) I do not change the way I pay the bills. I just let the money sit in ING longer and the regular bill payments go on as usual.

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