…then comes planning.
Aaaah! I know I’m a few days late following up on our money challenge for August, but I wanted to check in quickly and get us started for this week even though it’s half way over. But no worries. This next part is easy. Ish.
Now last week we wrote out our expen6se, right? What’s going out? I did it too because what’s the point of calling it our money challenge if I’m not participating, right? I used an Excel sheet even though I also use Mint and Trim to help me stay mindful of upcoming due dates. And I have a little over $1,800 in life expenses. Wowzers. Now, for LA that’s actually on the low side and to be fair, here’s why:
- I don’t have a car payment. Got a used car from a friend, paid in full.
- I live in a studio apartment for under $1,000 a month, utilities included.
- I don’t have cable or satellite service. I have a Roku device. I cut the cord about 2 years ago. I only subscribe to Amazon Prime and Netflix (the $7.99 Netflix). So my in-home entertainment costs is a little over $14 a month. And I love it.
- I take the bus to work and most places — and I have a car? Well, my mom drives the car since I live about 1.2 miles from work. That monthly TAP card for the bus is about $100.
- I’m still on our family plan cell phone bill with T-Mobile. I do pay the bill for all of us, but if I didn’t, my portion would average to about $60 a month.
- I also save about $100 a month. That doesn’t include the 401K account I have with my job in which $280 is deducted from my check before taxes even are every month.
- I try not to spend no more than $200 on groceries and $60 on eating out for the month.
A little rigid? Yeah, maybe. Why? I have a dream home in mind. That’s why the budgeting, that’s why the cutbacks in certain luxuries or amenities. I want something bigger and better down the line, so I’m making small sacrifices today.
So, the next part of
your our August money challenge is to figure out why we’re budgeting and what we can live without for little bit. Make budgeting plans.
I can live without cable or satellite TV. I get most of my news from the internet anyways. I’m down for reruns and I get to discover a bunch of stuff I never knew I’d like. Plus, when I had satellite TV, I was paying almost $70 a month for basic channels. But I spent 9 hours at work and getting to and from there. About 7 hours of sleep and another 1.5 hours getting ready for work. So 17.5 hours I wasn’t even getting my money’s worth during the work week. Damn. All that money down the drain. Now, I get to keep that dough.
But I’m budgeting with a plan in mind. I know why I’m budgeting and what I’m doing this for.
So, you know what you’re spending now in greater detail. Maybe some of those monthy subscriptions to stuff you don’t really need. Look over all your expenses and see what you do without for your ultimate goal in mind. I’m sure it’s worth it.