Welcome to tracking of income and expenses for the month. Please note that I get paid on the last day of the month so my cash flow net effect will usually be negative until the last day of the month.
This does not mean that I am adding to my debt, it just means that the money coming in is less than the money going out because bills are due starting on the first but I don’t get paid until the last day.
So again to clarify (since I get so many questions), this shows the cash FLOW for the month. On Day 2 of every month I will have a negative FLOW because I have paid rent etc so money has LEFT my checking account. I have not had any money come in on Day 2 of the current month since I got paid on day 27 or 30 or 31 of the previous month so that income is counted for LAST month.
Income for the month to date: $146.33
Expenses for the month to date: $1462.06
Net effect: -$1315.73
Since the last posting I have gotten $28 in income from advertising on the blog so I am very happy about that. I was not even expecting this money so it is going to be a snowflake payment towards my debt later on at the end of the month.
I spent $102.69 on groceries, which leaves me with $27.31 for groceries until the end of the month. This does not include things like household items or toiletries so I am in good shape there. I also have $30 budgeted for eating out so I suspect I will be getting some $5 footlongs from Subway to make up some lunches. I only eat half of the footlong for a meal and drink water with meals so the $5.41 (tax included) will get me TWO lunches for work.
I have not spent money on gas yet but I am going out of town this weekend and only have a half tank now so I will need to fill up to make it through the rest of the month.
Rent is fully paid along with associated costs like apartment insurance and water and since I got a $5 discount on the rent that amount is staying in the ING Electric Orange account to form a buffer for unexpected occurrences.
I will see you guys and gals later as I continue my journey to save money and become debt free!!!!