My First Blog Post

What Am I Doing?

You must gain control over your money or the lack of it will forever control you. “

– Dave Ramsey

Okay so I have a bit of a mantra if you will, I like to say “Don’t worry about money, it isn’t something worth stressing over.” But let’s be real, everybody gets stressed about money, it’s almost inevitable.

To be completely honest, I believe any monetary stress we have is inflicted on ourselves by ourselves. Yes some things may impact our decisions BUT I still believe at least in my own case that ALL of my monetary stress has come from my own doing. That being said I am going to do my best to flip my stress into something great.

I have decided to start my own financial savings plan. Now I am not claiming this as my creation but I did think of this on my own.

I am attempting to save a LARGE portion of money so I can successfully fulfill my goals. Ah, yes, goals. I should first tell you what those goals are. OKAY:

  • Goal 1: Pay off my student debts (ugh)
  • Goal 2: Buy a car (Vroom Vroom)
  • Goal 3: Down Payment on a House (Holy, big plans)

Okay so now that I’ve established my goals let me tell you a little about my expenses and then we will get into my savings solution (Fingers crossed).

So here is a list of possible expenses and how much I am paying for them on average on a per month basis. Don’t hate me or shame me! OKAY:

  • Rent – $0 (Living at home, I know… lets just drop it)
  • Hydro/Electricity – $75 (See I’m not a total mooch)
  • Groceries – $250
  • Clothes – $60
  • Entertainment – $250 (Big spender)
  • Phone – $0 (I promise it was a gift!)
  • Internet – $0 (It’s not my fault!)
  • Miscellaneous – $150

Okay so if we added this up I would be a liar. I don’t know how close these numbers are but let’s say it is: $785. Thats how much I deemed NECESSARY to spend monthly. Now that doesn’t include all the random things and gifts I purchase.

So now lets go over what I’m bringing in on a bi-weekly basis (If this ever changes I will update it!) OKAY:

  • Work 1: $690
  • Work 2: $40

Okay so adding these together I have $730/2wks. So per month that is approximately $1460/month. now lets subtract what I have as expenses: $675 is what we have remaining, the only problem is if I were to have any damn expenses like rent, phone, internet or anything I’d be done for. This also doesn’t take into account my monthly loans payment that starts in November that is approximately $300 as well as paying off my giant credit card bill.

SO now we will dive into the saving method. I have gathered together a list of things I may need to pay for throughout the month and attached a weekly monetary value to them, OKAY:

  • Entertainment – $40
  • Grocery – $25
  • Bills (Hydro/Electricity) – $15
  • Clothing – $20
  • Toiletries – $10
  • Gifts – $10
  • Misc – $20
  • Total – $140

This is MY breakdown. Obviously not the only way to do this. I have taken the things that I deem most important and slapped a monetary value on them, note that it is much lower than my earlier estimates of my current spending habits. This is because what I was spending before was RECKLESS!

So number 1 thing to know is that my budget is a cash budget. So I have eliminated any other means of spending. I only carry a credit card with a super low limit just incase I get stranded or NEED something.

Here is a look at my budget in it’s physical state! It consists of 7 jars (Shoutout Dollarama) and the $140 separated accordingly amongst the jars.

Money Jars

My hope is to chronicle my day to day experience trying to stick to this budget. I’m sure there will be lots of ups and downs and weeks where I fall off the wagon. As much as this is just me going on a budget it will be 100% honest and unfiltered so if I F*#% up then you will know.

Thanks for joining in on the fun and hope you stick around!

3 thoughts on “My First Blog Post

  1. Well this is a wonderful plan, keep it going. The #1 fact you posted home equals with me and I am happy to help some. Keep it up and save as much as you are able.

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  2. I’m a total budget nerd, but I find that having a budget and knowing where my money is going means that I stress out a whole lot less. I’ve been at this for 15+ years now. Trust me when I say that getting started is the hardest part. I’m a big believer in finding a system that works for you. If something like YNAB or EveryDollar or Mint works for you, cool! If not, don’t be afraid to make your own (Excel is your friend). And don’t be afraid to change if you find that something doesn’t work for you or something better comes along. I can’t tell you how many transformations that my spreadsheet has gone through over the years. I just finished a new one yesterday.

    Liked by 1 person

    1. Thanks so much for the kind words. This is honestly super important to me. I started making spreadsheets to track my spending. I’m hoping that once I go back to having real like expenses I will have a better job and be a budgeting wiz

      Like

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