Week 2 finance breakdown

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I took this on Friday after a crazy week at work – it was such a great way to start the weekend!

I figured I would do my financial recaps on weekends and first of the month when I usually “clean house” and might as well add this to the list.  I’m (sadly) not going to lie – this no shopping thing is already proving to be a challenge less than two weeks in.  Around December, I bought a couple of yoga pants at Victoria’s Secret and I received some compliments on them at the gym (and home, bf really likes them).  So how my spendaholic mind processes that is “I should buy more in different waistband colors!”

I realize that mindset is where a lot of my spending leaks stem from.  I still wanted more, though (hi, fixation!), so to keep me accountable, I assigned two financial gatekeepers (my boyfriend and a coworker who are both very fiscally conservative) to run possible spending prospects in the event a clothing/shoe/whatever expense was a “need.”  I tried to be sneaky about it, asking 1) If I sell something on Ebay can I just buy more pants with those earnings or 2) I returned some items from V.S. for $64 and received credit, so can I just buy more pants since it’s essentially an exchange.  Both scenarios were denied… dang cheapskates! 😉

I know I don’t need more – I’ll only wear these for winter and winter is not very long at all in SD (and, as my Wisconsin friends who visited remind me, “This is like fall in Wisconsin, suck it up!”).  And, like most wants, this one is fleeting and I’m back on track.

Week 2 addition that I’m just putting into budget  – $18 (Ebay)

Week 2 expenses:

1) $40.01 – gas (1/10/13)

2) $10.90 – lunch with an ex-coworker (1/10/13)

3) $7 – appetizers with friends (1/11/13)

4) $77.99 – groceries (kind of surprised with this bill again, but I guess it’s because I’m also bringing my lunch so I’m cooking more often?  The next week or two should be my bf’s turn for the groceries, though, so maybe it’ll balance out) (1/11/13)

January balance: $130.09

Apparently, I set the bar too low with starting at $400/month (well, $418 now).  I’m still going to run it to $0, though, and see how much I go “over” before thinking about future budgets.  Maybe $300 every 2 weeks is more reasonable?  I’m going to check out other PF blogs to see how they work out their budgets.

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4 thoughts on “Week 2 finance breakdown

  1. Hi, I ran a program called “NoSpender” in November on this very same topic. It was an entirely cash program that allowed spending budgets of $150 per week per adult in the household ($50 per week per child in the household, if applicable). All spending was to be made in cash EXCEPT for one trip to the grocery store and one tank of gas per car. The groceries and gas were the only expenses that could be put on a credit card.
    The response was amazing. My husband and I are still employing this program – mostly because we have two (read: very costly) children.
    Feel free to try it out for yourself. You can also follow my blog at http://www.moniquemadan.wordpress.com for other personal finance topics. I’m a fee-for-service financial planner so I know what I’m talking about.

    • Thanks for the advice! So does that mean the cash only budget was for discretionary funds, and the groceries/gas was another part of the budget (or just one trip to the groceries/gas could be outside of the cash only budget)? I’ll admit, tracking expenses is like tracking calories – you don’t really know exactly how much you eat/your portion sizes until you track down every morsel! This budget thing is definitely the same thing.

  2. I’m kind of in the first month of having an official budget broken down by various expenses. I’m excited/anxious to see how it turns out at the end of the month. I may have underestimated a couple of areas, mainly food haha. Great comparison between tracking expenses and calories too. I started tracking my calories on My Fitness Pal several months ago and I was floored. I figure budgeting might have a few surprises too but I think both are essential first steps in reaching goals for those particular areas.

    • Hi Rick- I completely agree it’s a good and essential first step to improving yourself, both financially and in health! I think I grossly underestimated my food budget, too, haha. Definitely keep in touch to let me know how you’re month-end figures look, kinda nice to know I’m not the only one new to budgeting!

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