Money, Day 3: Budget

October 21, 2009 at 2:40 pm 2 comments

I woke up this morning in a full-on anxiety attack over money.   I’ve been dallying with this stuff for three days now, but I haven’t made any appreciable headway.  This cannot continue.

So…today my goal is to sort out November once and for all.   Like I said…I felt that my last attempt at this failed somewhat because it turned our money spending into a big long projected outlook.  I think this is valuable in its way, because that way we took into account incidental spending per month (quarterly bills, biyearly bills, birthdays, seasonal costs, etc.), but it left me feeling like I couldn’t really save anything because every penny we don’t save now will be needed later, and so on and so on.  What I really should be doing is viewing each month as a unit and banking anything we don’t spend into savings.   That way we get a little interest, and it’s still there when we need it later.  This current approach is just way too stressful.

So I did two things today.  I familiarized myself with my bank’s online banking interface and I went to each of our various payees and tried to sort out their online bill paying systems.  I also went through and made sure that every one of them knows not to send E-mail to the one account we have that is defunct now.  This was big, because our gas bill and our AT&T bills were both being sent to that address, and that’s why I missed paying them.  Not good.

Next is the budget, in which I sit down and determine which bills come out of which paycheck.  I did call church today and ask Michelle to change our withdrawal date on Tuition from the 5th (before Payday) to the 7th (after Payday), to divide up our biggest expenses.  Otherwise, between the mortgage and tuition, the second paycheck only had $198 left afterward, and $100 of that goes to church.  $98 is not easy to eat on for two weeks when you’re a family of six, let me tell you.  It’s conceivable that we’d have money left over from earlier in the month, yes, but I still felt better with it more spread out.

So that’s done, and I feel good about it.  Now I just need to get the insurance bill paid.  We used to pay $350 every six months on the van, but now we pay $450 because I had an accident.  Great.  I have no idea where I’m going to scrounge up that kind of money, unless we just don’t do ANYTHING for Luke’s 3rd birthday next week, and we barely do anything for Halloween.

I hate this stuff sometimes. 😦

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Entry filed under: Money, Successes. Tags: , , , , , , .

Money, Day 2: Getting it Sorted Money, Day 4: THIEF!!

2 Comments

  • 1. Melalvai  |  October 23, 2009 at 5:13 pm

    So, what are the steps you are taking? I don’t mean you should share detailed financial information online (or with me at all), I would like to know what steps you are taking, what goals you are setting for each day and so on.

    You mentioned checking your balance daily, I think. And it sounds like you are trying to create a budget for November. Is that about right?

  • 2. Jennifer  |  October 23, 2009 at 11:06 pm

    More or less. My first order of business is just to get over the fear of facing my bank balance, which is why the goal for 21 days here is simply to check my balance at least once a day. Otherwise I tend to wing it, and that never bodes well.

    But since making actual headway is important, making a plan for bills and budget and all of that obviously needs to happen, so..


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