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: $928.86
Expenses for the month to date: $2468.63
Net effect: -$1539.77
Since the last posting I redeemed $4 in coupons when shopping at CVS this week and got a $25 gift card by redeeming some points from MyPoints. I moved $30 to my House Downpayment fund and added $75 to the Health Savings Account.
I spent $28.94 to fill up the tank from slightly around a quarter tank. I got my dad an electric toothbrush and some spare brush heads as a Father’s day gift and I just need to get that shipped off so they can reach him early enough.
I received enough money to fund a new Lending Club loan at $25 and transferred $10.79 to my checking account as further income for the week.
I will see you guys and gals later as I continue my journey to save money and become debt free!!!!
Woa, you have some many funds accounts that it inspires me to make the same and open some accounts.
I’ve been following you for some days now and have read some of your posts and I know that if I put a little on every account, like $10 a month, I would be shocked to see how much I saved by the end of the year, but I had to had some inspiration.
Thanks for this, and keep showing us that we can save if we try!
By keeping such a close track on your income/expenses you are gaining greater clarity on your situation. This is excellent because over the long term it will allow you to plan in detail for your future expenses and in turn this will let you leverage the savings you make.
If you think about it – when a person follows no budget/plan they get lost and have no visibility on their situation. By keeping close tabs on your expenses you are empowering your finances.
Keep it up.