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|
|Expenses (May 12- 31)|
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!