Destination England

Our journey from debt to England…and everything in between!

My Spending Challenge

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Over the next couple of weeks (pay cycle), I am going to attempt to actually stick to our budget.  I don’t understand why it is so hard. I have quit smoking, which was one of the hardest things I have ever done, yet sticking to a budget that makes common sense is beyond me!  It is frustrating and infuriating at the same time.   Budgeting is a good thing, so why is it so difficult?

My only real excuse is…

Laziness. The more I look at it, the more I realize that my money isn’t disappearing magically.  I’m spending it on laziness.  What do I mean by that?  A bad habit I have is forgetting to pack a lunch.  This means that on my work days, I will be “forced” to eat out.  The worst part about this is I don’t even feel satisfied after spending. In fact, I feel guilty.  I know that it isn’t wrong what I’m doing, but I do know it is counterproductive.

To be honest, the real culprit is eating out all too often.  I try to use every excuse in the book to justify it, and the truth is, I don’t feel justified.  One side of my mind is starting to think “I could have made this at home, with better ingredients for almost a fraction of the price.”  The other side is thinking, “But that’s effort I don’t want to exert.”

Time for a change

This is my challenge the next two weeks.  I am going to stick to our budget!  There will be no eating out, no forgetting lunches, or waking up too late to have breakfast! To steal a quote from President Obama’s presidential campaign – “Yes We Can!”  Can we stick to our budget?! Yes, We Can!

What does the budget look like?

This is what we’re looking at.

Initial Balance $1,479.19
Rent $ 722.00
Vonage $ 38.44
Gas (car) $ 120.00
Food $ 150.00
Cell Phone $ 126.04
Medical Bill 1 $ 105.00
Netflix $ 9.25
Electric $ 113.51
Medical Bill 2 $ 50.00
Remaining Balance $ 44.95

This pay, there’s really a very small margin for error, but I did it this way for a reason.  I took the extra money and applied it to making bigger payments on the two medical bills.  The only questionable amount on there is Netflix, as I lowered our plan to the 1 DVD at a time plan, so I’m not exactly sure what the total is with tax. We have also lowered our Cell Phone plan, so that will lower that bill next month.

I’m feeling confident in this endeavor.  One thing I hope this will do is instill the habit to continue this forward.  The great thing is that from what I’ve looked into with our budget, I will have all of my old debt paid off by the end of the year.  That means only Student Loans and Car left to go, which admittedly is a giant chunk.  The old debt has been hanging around for years, and when it is gone, I’ll never look back!

I’ll update you all on my progress with this, and wish me luck!

Written by Jas

April 30, 2010 at 8:00 am

Posted in Debt, Finance

Tagged with , ,

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