Hello all! I hope you’re having a peaceful and relaxing Sunday and that you like the new look that I gave the blog :) I think I need a fresh start!
This week I decided to commit to learning to budget. I have always avoided budgeting because I thought it is somehow either something I can’t do and is a bit of a “downer”.
The good news is that I don’t have any debt (yet), I save some money at the start of the month and I have a pension plan in place since turning 30 a few years ago. So I think that’s a lot of good things. But the reality is, that I have literally no idea as to what I’m spending each month. I hope by learning to budget that I will actually save more because I know where I stand and also that it’ll relieve some guilt. I’d like to have a better relationship with money and just feel more abundant.
I used to work through the FlyLady FACE journal about once a year, and this did give me an overview as to what my “number” was as to what’s coming in and what’s going out. That was really helpful but I think I need to work out a more detailed budget.
So I scoured the internet for information. After watching some youtube tutorials, I signed up for Dave Ramsey’s free “everydollar” online software. Years ago I tried to use YNAB before, and my bank has it’s own app but I think there is little point filling in all the transactions if you aren’t interested in getting a kind of a result and I think that’s why I’ve failed in the past. I was afraid to look at the whole picture.
After filling in the everydollar budget using my bank’s app, I traced all the transactions for November. I found out that in November I spent a whopping €76 on eating lunch out with my colleagues! But I think it’s these moments of enlightenment where we see where we can improve. Another shocker for me on analyzing some phone bills, I found out that I my mobile phone bill is consistently double what the rate plan is for it, due in part to frequently texting my boyfriend’s Irish number by accident and sending far too many international text messages.
I organised my findings into the FACE section of my Control Journal and have vowed to track bills, savings and review how it’s going on a monthly basis. Right now I’m not sure how I deal with that I get paid on the 25th and the start of the month bills get going from the 1st… should I just try to hold on until the 1st?? What do you guys do?
I guess if I just start I’ll learn as I go. I’d love to be able to plan how much to put away for Christmas, travel, insurance & medical stuff that comes all in one go. I regret not taking home ec! LOL!