Monday, July 6, 2015

that budget life

Well, since my last post I sort of went on a spending spree. Great job, right? WRONG! Here is the budget layout that I am thinking of. I actually read about a lazy persons guide to budgeting and think I am going to do something similar. My worst enemy appears to be credit cards and emotional spending. If I see it and want it (note: not need), I will buy it. Most the time this ends up giving me buyers remorse and I regret my decision horribly. What is even worse is that often times I will order things online and then sell or return them. This is bad because I automatically lose out on the shipping costs. I cannot stress how many times I have done this and how silly it is. Anyways, so my lazy mans budget is going to go as follows:

  1. $100 cash withdrawn every Sunday or Monday - this will be my spending money for the week.
  2. Credit cards may only be used for bills, nothing else
SO you are probably thinking that according to the lazy mans budget I should be doing the following:
  1. Automate savings
  2. Emergency fund buffer
  3. Spend the rest
Ok, so I get the above but because I suck so bad with credit cards I wanted to add to it and only spend $400 bucks per month on non essentials. Savings is already automated with 401k and 10% of my take home deducted each check. At least I am saving! The emergency fund buffer is something I am working on. My overall goal is to be living on one pay check and my rental income monthly. This will be significantly easier once I find a cheaper place to live. I will keep you updated as I go through this process on how well I am actually sticking to my budget. Eventually I would like to get a spreadsheet showing my budget but I just haven't been able to do that yet. It is on the agenda for a later post :)

What does your budget look like? 
Do you prefer cash in pocket or credit cards?
How many months is your emergency fund going to cover?

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