Budget Update December 2013: Our year in review

ANOTHER YEAR HAS COME AND GONE   If you want to start using a budget there is no better time than now. Stop procrastinating because no one is perfect and almost everyone has some form of debt they’d like to get rid of. There’s no shame in taking the first step towards living a debt-free life if that is your goal. December came in like lightning and went out just as fast because we are now 6 days into 2014 and I’m excited to share our budget update with all of you. As you will see below we ran all of the numbers for 2013 to see just how we made out using our budgeted numbers and whether we needed to make any changes. We’ve never professed to be perfect, gosh we are far from it and our yearly budget numbers will show you that although we did budget we spent more than we anticipated. Although we had the money for the overage it still wasn’t good enough for us because if we didn’t, that money would have to come from somewhere.   Unexpected expenses   Most people have to turn to a credit card, line of credit or like […]

November 2013 Net Worth update: (+1.35%) The end of year clock is ticking

TIME IS IT REALLY ON YOUR SIDE?   Many of us tend to put things aside thinking we will get to it later on and for most later on never happens. The same goes with a budget and our finances because we might not want to face what we will uncover once we start digging through the paperwork. Facing up to reality is the hardest part of getting started when budgeting and getting your finances in order but that is the way we all had to start. Finding out where you stand and how much you are worth is just a stepping stone for what lurks ahead. Time is never on your side when it comes to finance because every day that we put off what we should have done the day before is lost and we can never get back. We are now in the home stretch for 2014 starting the month of December in hopes that by the end of the month we can look back over the 2013 and congratulate ourselves for accomplishing many of our goals and then set new goals for 2014. I read something on instagram the other day and said something like “Get […]

Bust our budget November 2013: How do you pay your bills?

PAY ATTENTION TO THE NUMBERS   It’s inevitable that mistakes will happen whether they are by human error or computer generated mistakes that for the odd occasion can cause problems when it comes to your finances. How to pay your bills? There are so many ways to pay your bills these days whether it be in person to the organization, at the bank, with a credit card (for points), online bill payments and I’m sure there are a host of other ways to pay your bills. The key is to pay them once and to pay them on time while making sure you are paying for the services you used. We have a bill payment calendar set up on the computer in excel so we know exactly when our bills are due and the general amount they are unless they are fixed as that would be the same amount such as the mortgage payment each week. Just when we thought we were an organized couple financially we go and make an error this week that I wanted to briefly touch on this month because for some it may not be a huge deal but for those that might have limited […]

October 2013 Net Worth update:(+1.94%) Defending spending habits

SPENDING TOO MUCH – ARE YOU DEFENSE SPENDING? Using our budget as a spend tracker has been our saving grace this past couple of years but recently we’ve been spending more money. In our budget update for October we recognized the need for a flexible spending plan but also a plan to continue saving our money. If you always have to justify your purchases then chances are you likely don’t need to spend the money and your defending your spending habits. I don’t think we went too far overboard in October but we certainly spent far more than anticipated once again. In our October budget update I talked about romance and money and how that affected our budget this past month. I also wondered whether many others feel the same crunch with seasonal spending. Seasonal spending is where you spend money just because you think you need to buy something for someone or yourself because the weather starts to get cold, you are indoors more and the holidays are right around the corner. If you spend money just because you think you have to it could really dent your budget and your overall net worth like it has for us […]

Bust our budget October 2013: Romance and money

BUDGET CATCH UP IN EFFECT   Just when you think you have everything under control life throws you lemons. You know that you can’t spend more than you earn but inside your head you say it’s ok to spend a bit more because you are worth it. Sure you could spend cash if you have extra money and no debt like us but it’s also important to realize why you are budgeting in the first place and whether your budget needs to be tweaked to fit your lifestyle.   In September we thought for sure that expenses would cool down a bit and they did for October just not as much as we would have liked. As you will see below we didn’t save a whole heck of a lot of money in our savings account but we did manage to balance the budget as per usual. I had to spend money for work as well we bought a universal home gym second-hand which cost us a bit of money. I have some gym equipment that we have been using but I wanted more weights and the system was a great price so I wasted no time picking it up. […]

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