I have a bit of a confession.
I’m really good at spending money – like, if there were an Olympic sport of spending oodles and oodles of discretionary income, I’d probably have a gold medal.
It’s a problem.
I’ve been known to fuel this habit by working ridiculous hours. Full time jobs, part time jobs, work work work! It’s been nothing for me to spend a minimum of 60 hours a week sitting at a desk or picking up part time work, all because I “need” this money to pay for my “expenses”.
No mam. Not anymore. It’s time to drop my part time job of waiting tables and rely fully on 1 income. Yes, this is a little scary – but I can do it! It’s time to spend my weekends this summer sitting by the pool (with sunscreen) reading and exploring all there is in Raleigh, NC with my favorite companions – my fiancé and 2 puppies.
I’m ready to say goodbye to the hours and hours of working and ready to start working smarter, and I feel like it’s my responsibility to share my findings with other ladies (and gentlemen), particularly those of you here in Raleigh, NC who may be able to benefit as well.
First things first (I’m the realist….)
A budget! How am I supposed to know what I can spend on lattes and wine if I don’t know where my money is going?
I found that my biggest problem was unnecessary spending. I was spending a lot of money on things I wouldn’t characterize as a “need” – such as $5 on a latte a little too often or dinners out when I could be eating in for much cheaper.
One article I really enjoyed reading concerning this topic: http://theeverygirl.com/buying-happiness-prioritizing-your-spending-choices
As far as creating a budget, I’ll admit, I did this the old fashioned way. I wrote out what I spent for the past month on utilities, made an estimated guess at what I’ll spend on other things such as gas and groceries, and laid out how much I wanted to see go into my savings. I made sure that every dollar of my income had a purpose!
This took a lot of time.
To make things easier, I’m going to look into the app Mint, and I’ll give you an update on that in a future post.
Do you have any suggestions for creating and monitoring a budget? I’d love for you to leave some more information in the comments!