Wednesday, February 2, 2011

Financial Health

So I set up a new page called Financial Goals. After reviewing my bank account, I am dissapointed with myself. I use my debit card too easily, and am not as good at deals as I used to be.

I used to live off about 150 a week, now I make over 500 a week, and yet can only save maybe a fraction of that.

So here are my:
Hit 6000 in savings by 2/28/11 (currently at 5090, so that is two paychecks, about 1090 each, I hope to save close to half of those paychecks)

stay in budget for the month of February

limit spending on food, alcohol

No Shopping

Try Cash spending. Take out X amount each week and that is it for extras

Amount budgeted:
Spending: 1259
Necesities: 848
Car insurance+ premium (one time only in feb) - 270
Car payment: 223
Phone: 115
groceries (I live at home, so this cost is limited to work lunches, and dinners that M and I cook) 120
Gas: 120 (about 30 a week)

so 400 I spend on extra things (in my budget anyways) For February these are my limits:

entertainment: 20 dollars (things like movie rentals, going to the movies. I am pretty good about this sort of thing, but I am bad at returning movies on time, so I'm going to make a conscious effort to fix that)

Alcohol and Bars: 60 (Believe me when I say that for me, to only spend 60 dollars on alcohol is good. I only plan on going out out twice this month, and the rest will be cheaper options. I realize that it would be easy to just cut this out, but I enjoy  these nights out, and don't do much outside of this)

Date night/Groceries/restaurants: 45/20/20 (This will be trying for me. I group these all seperate, but they are all times that I eat out, or buy food to make special)

Clothing : 50( and I hope to make this 0)

Health and Beauty: 35 ( I gotta cut out those CVS trips.)

Travel : 20 (so I don't get tempted to take cabs on nights out!)

Cash : 50.00 ( for misc expenses. I will try to no longer be putting these misc expenses, such as candy, coffee, etc on my card)

Coffee Shops:20.00 (DBF and I have a tradition of going to marylous after working out. It's a special thing, but those 2 dollar coffees add up! so I hope to make this less than 20 this month, and use cash for it instead).
I'll check in midmonth to see how I'm doing. Any advice is much appreciated!

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