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: $350.00
Expenses for the month to date: $821.10
Net effect: -$471.10
Since the last posting I spent $24.37 on household items and $35.02 on food. I realize that week one reporting only covers two days so I am splitting the shopping and will get Sunday’s shopping week 2 to balance the expense flow. Blogging income was $350 which is a very nice way to start the month and balance out spending so far. I also paid rent and associated apartment costs and moved some money to savings.
I made a minor tweak to the budget this month to account for some changes that will be coming up in the future, including some snowflake payments that will be going out quite soon.
I will see you guys and gals later as I continue my journey to save money and become debt free!!!!
I for one will be very interested in following you here. It’s good to see how others manage cashflow on a monthly basis and hopefully ill pick up a few tips for myself.
Thanks.
Wouldn’t it be easier to just view the June 30th pay as income on July 1st? Then you can just deduct from that over the month.
We can see that you are new to the blog, and Welcome this is a great place. Thats the way she has done from the start and she puts it out as it is. She constantly has had to explain herself the reason, as she said before, The bills came in around the first but she gets paid on the last of the month so she is technically in the red till the end of the month.
Thanks for explaining that….I can see that YOU read these little updates carefully.
Why will you be fazing out snowflake payments. I thought that was for savings?
I am not getting rid of the snowflake payments. The snowflakes were originally intended to pay off debts as I have my savings set up like a bill that is paid monthly in any case.
I am going to make the regular contributions to savings but use the extra snowflake money to pay off debts because the debts have a higher interest rate than any of the savings accounts.
Does it make more sense now?
Thanks for the post – my friends think I’m crazy for monitoring every cent I spend – the first thing I do when my money comes in is put a share aside for savings. It may only be a small amount but after a while I have my ’emergency money’ for those unforseen cases.