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: $100.00
Expenses for the month to date: $820.79
Net effect: -$720.79
Since the last posting I paid rent and associated costs and also paid the phone bill early for a total of $820.79. I received $100 in advertising which is a BLESSING since I am officially living off my savings now. I received my final paycheck from my old job at the end of August and until I get a new job I will not have a steady income. I will be living off the various savings accounts (starting possibly with my Lexus Fund) and I will try to limit my spending as much as possible to only the very basics.
I have to watch my budget very carefully as my rent has also gone up since my old lease on the apartment ended and rates were raised everywhere. I had a budgeted amount that was greater than what I actually paid but there was more wiggle room in the past. Now that rent has gone up the actual amount is close to what the budgeted amount was set as and this leaves me with less money to work with.
I will see you guys and gals later as I continue my journey to save money and become debt free!!!!
Working with a monthly budget backwards as you do, find I very frustrating, you can not see how good or bad the budget is going during the month. I had started monthly budget from the day salary comes in and the budget start at plus.
that was quick . its just the 2nd day of the month . i just got paid by an advertiser today
The Lexus fund, that is a great goal! You are smart to make goals like that…goes along with positive thinking. If you think positive and set goals (like your Lexus one), you then work towards meeting those goals. You will get that Lexus, I know it!
You are truly a great writer. We are lucky to read your posts on budgeting and saving cash. If I could budget every penny as you do, I would be in a much better financial spot! Your posts really make me think that I need to start budgeting more precisely.