Assessing the Month

Do you ever give yourself good advice and the ignore it? I do! I was reviewing my site and found this post to help me not abuse my credit card and this one about the optimal way for me to budget. Guess what I didn’t do this month? Set a weekly budget before shopping! Now I’m looking at the next four weeks critically.

Based on my current budget I only have funds to purchase groceries and Bunny’s hay for the rest of the month. My vacation savings line is perfectly aligned for me to pay my entire vacation without touching my current paycheque.

I’m not going to fib, knowing that it’s the first week of May and because I purchased razor blades and pit balls my budget has gotten insanely tight drives me a bit batty. So I did what anyone who has developed a love at looking at her budget would do: I started breaking down my debt repayment.

Things to keep in mind:

  • I don’t budget with my actual paycheque.
    • I’ve created a budget based on the amount I feel I can maintain my lifestyle and make hefty payments towards my LOC.
  • I’m currently depositing my paycheque into my LOC and then paying all bills from there.

Here’s how I broke it down to figure out if I have any wiggle room.

Anticipated spending between May 4 & 12 172
Debt as of May 4th 783
Total that will be owing as of May 12th  955
Pay 1500
Expenses (May 12- 31)
Debt 955
Groceries 135
Life Insurance 165.05
Car Insurance 112.69
LOC interest 5
Totals  1500 1372.74
 Over/Under 127.26

Phew! Now I don’t do well when I’m completely honest with myself with my paycheque so I’ve rounded my May 12th pay down to $1,500. This will ensure that even if I use the $127 that I won’t run the risk of not paying off my LOC this month.

It’s funny how knowing that I have wiggle room makes me immediately not want stuff. All day today I’ve wanted a Happy Meal (It’s McDonald’s McHappy Day so I’m hearing all the ads) and I’ve been feeling a little off that I can’t afford the $4.70 without possibly sacrificing my goal of being debt free. Now that I know I can have it and still achieve my goals I don’t want it at all!

 

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11 thoughts on “Assessing the Month

  1. Congratulations on the positive cash flow!

    Regarding rewarding yourself: A NEW THOUGHT PROCESS
    Drinking excessive amounts of alcohol (to the point of intoxication) relaxes many people and makes them “feel good.” This behavior places stress on the liver and kills millions of brain cells. Does this sound like a good way to reward oneself?

    If you agree that this doesn’t seem like a positive reward, let’s look at the McDonald’s scenario. This food “taste’s good” and the experience is “enjoyable.” Many of their products, however, are filled with unhealthy toxic substances that increase the risk for disease and death.
    Does this sound like a good way to reward oneself?

    THE NEW THOUGHT PROCESS:
    If you are going to reward yourself, why not do something that “feels good” and is actually GOOD FOR YOU. A positive reinforcement adds quality to living and accomplishes the same “feel good” response. If you are going to reward yourself with a “gift,” why not purchase something that enhances your life rather than something that potentially damages it.

    Psychologically, this new thought process can greatly affect one’s health and life.

    Sorry for the long winded comment. 🙂 Just thought this perspective might be something you could benefit from. Happy Thursday!

    Liked by 1 person

    1. Great comment!

      What’s funny was it really was the advertising and feeling like I couldn’t afford it. Once I realized I had the cash the idea of eating something that would make me feel ill in about 2 hours didn’t seem like a good use of funds. I saved the $4 some cents and my body was much happier. I am working on not rewarding myself with food, it seems like a slippery slope and ends up doing exactly what you’re warning against.

      I did end up getting a homemade burger from ML’s mum. The reward was some family time and good home cooking. The hugs and chat were much better than the Happy Meal toy 🙂

      Like

  2. The only times we choose to do it is to celebrate a family member’s birthday or for a special occasion, but even then, it costs a lot and often not healthy. Good job on the restraint, wish I had the same amount of will power every time too!

    Liked by 1 person

  3. Ha! Good discipline in keeping to your budget. I would be so tempted to just pay off the entire LOC and live on 2 minute noodles and be a hermit for the rest of the month. Rinse and repeat next month to now pay for all those other bills. Be miserable. Hahaha!
    That’s what’s good about blogging – the accountability and being able to go back and review what’s worked and what hasn’t in the past and lessons learnt 🙂

    Liked by 1 person

    1. Thanks! I think if this was last month I may have :).
      I really am loving the accountability of blogging and the ability too quickly search my lessons. Of course getting to meet people who share great insights is the ultimate bonus 🙂

      Liked by 1 person

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