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: $293.05
Expenses for the month to date: $2177.16
Net effect: -$1884.11
Since the last posting I received $3.39 from Lending Club loans that have been repaid as income for the week and I am pleased to say that my loans are now being repaid on time. I also received $28 from advertising and that is being sent into the snowflake account to be paid to credit card debt at the end of the month.
I spent $22.22 on food for the week, which was mainly bread and fruit and bought a newspaper for $3.00 to refresh my coupon base. This time around I am thinking of only buying the first newspaper of the month which contains three different types of inserts to get the best value and to see how little I can spend on coupons to get the biggest return.
I only have $7.43 left in the ‘household’ budget but I think I should be able to make it without needing to buy any cleaning supplies or things of that sort until the end of the month.
I will see you guys and gals later as I continue my journey to save money and become debt free!!!!
Hi! Sorry to bother you but if you don’t mind I have a question for you. I have been reading your blog for awhile and you are always saying such good things about ING Direct. Since then I have looked at reviews of the bank and done a tone of research on it. I am convinced that I would be very happy with it!
Though there is only one thing holding me back on it. Do you remember if they did a credit check prior to opening your account with ING? I would love to open an account but I have ran my credit more times then I would have liked this year, so for obvious reasons I don’t want to do it again if I can avoid it. I have done searches and looked everywhere on the fine print of the website and they don’t mention it, but I would like to make sure.
Little by little, bit by bit. Your journey to financial success is pretty well on its way. It’s all about mindset, and I thank you for imparting us with yours. Great stuff.
good luck with managing your finances – I hope you are soon able to think actually saving on a larger scale as well.
I also wanted to point out that whenever possible, you may want to start adding money to savings account to banks such as American Express FSB and Discover Bank – they actually have a lot better APR interest per year than many others, don’t necessarily have any minimum balance requirements and are more stable….
Once again, best of luck with everything- hope you get successful soon!
i hate tracking it though it always takes ages
Nice journey to a financial success. I wish you all the best for this and hope I can learn something from you about managing my capital.