It's been a while since I've written about my budget, hasn't it? I won't lie, things haven't been easy around here and I've continued to struggle with it since I wrote my last post at the end of July. But while I've continued to cut back on dining out, recently I've been shopping more and fall is to blame. I've been spending small amounts at a time, a new scarf here, a new flannel shirt there, etc., and now it's starting to add up. My clothing envelope has been empty for about three pay periods now because I haven't even taken that money out of my account since I had already spent it. So I need to stop that, like yesterday.
I've been keeping some numbers along the way, just to track my progress. In June, my first month of the budget, I spent 39% of my average spending for the year. In July, I spent 104% of my average spending for the year, more than twice as much as what I spent in June, because of my trip to New York City. In August, I dipped back down and spent 81% of what I had spent earlier in the year. This month, I am again at 81% of my average yearly spending, but somehow I feel further away from my savings goals and I don't quite know why.
It's sometimes difficult to remember how good it feels to put extra money away into savings and see that total get bigger and bigger. Or to pay a little extra toward my credit card debt. Sometimes I forget about that when I'm driving past Chick-Fil-A on my way home for lunch or when I see something I "must have" for my wardrobe. I don't think there's any special tips or tricks for that, it's just a matter of telling myself no. I think they call that self control?
The good news is, though, that I have three more car payments and then I'm D-O-N-E. I cannot wait to have my car completely paid off before the new year. And while that won't free up a ton of money for me (I was so lucky to get a small car payment thanks to an awesome credit score two years ago), I already know that money is going toward paying off the rest of my debt so I can hopefully be debt-free by June 2015. That's going to be a huge milestone for me financially and I cannot wait!
Here's hoping October will be even better.
Here's hoping October will be even better.
Read my other budget posts here:
Good job on almost having your car paid off!
ReplyDeleteThat’s true. Self-control is the key to successfully implement one’s budget plan effectively. And in my opinion, you’re getting closer to having that control on your expenses. Because you’re now keeping track of your expenses and can assess for yourself if you're doing great or not. With that in mind, it’s only a matter of time before you can take control of your debt and be financially stable. Good luck!
ReplyDeleteCharlena Leonard @ Weidner Law