I have decided to post my weekly spending for the previous week on Fridays so you know how my cash has been flowing for the week. 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: $450.00
Expenses for the month to date: $1023.21
Net effect: -$573.21
Since the last posting I spent $747.05 on rent and other associated costs and got a notice that my rent will remain the same if I renew for another 12 months. I received $450 in advertising which is an excellent way to begin the month with regards to cash flow.
I spent $20.39 on gas and started off the month on a full tank of gas as I am going back to work and will be driving more than last month. I also got a wash at the drive through and since I have increased the monthly maintenance expense to $25 per month I am now going to wash the car every Sunday on my way back from church. I know that $6 in the drive through can add up but I really hate washing the car manually. I consider that $6 to be a convenience fee so that I do not have to get out and hustle to wash the car and I can still have a clean vehicle.
I spent $28.81 on some fresh fruit, bread and other kitchen staples for the week, including milk and eggs, and also paid the cell phone bill and my two personal loans. I have increased the monthly amounts that I make on the two personal loans so that I can finish paying them off in December of this year. I know that they are at 0% interest and I can use my money in other areas to take advantage of the zero interest but I am really ready to be debt free so I want to start off 2011 without those two loans hanging around in my budget.
I went out to eat with coworkers one day this week as part of a team building exercise and spent $11.73 including tip on the meal. It was a really good experience as we got to talk about a lot of different things and spend some quality time just having fun with each other.
I will see you guys and gals later as I continue my journey to save money and become debt free!!!!
The difference is more than double. Too more isn’t it?
I hear you about wanting to clear off debts as soon as possible. Whenever I come into some extra money, the first thing I do is put it toward paying off any money I may owe to someone.
Great idea on making it a post for every Friday, looking forward to the next update now!
Good read. I think that it is really important that people give importance to their financial status, goals and stability. Definitely a must-read for those who need help.
You are moving in great manner. Wonderful post, I really enjoyed reading it! The people you meet when you travel really are often the best part of it all.
Ariba ariba! Good to hear you will be doing this every week.
You are doing good progress it shows from magical figures.
I too inspired from you and doing blogging task with more dedication.
Wanna be like you one day.
Way to go! I still can’t believe that you have to tell people every time you make this post about how you have a negative flow.