T or the first time in my life I’ve done a budget (wooo I’ve finally grown up!). Well, to be honest I’ve done budgets before but they were based on hopes and dreams rather than cold hard facts. After recording my expenses since March I have a reasonable idea what my expenses actually are. I’ve also taken the razor to most of the discretionary expenses.
Sorry family don’t expect anything amazing this year. Sorry GF the present cutting goes for anniversaries, and valentines day too. Eating out has become a monthly affair. Holiday budget is also cut, so it’s camping from here on in!
And I’m still insolvent. I spend $7.81 MORE than I earn. It doesn’t sound like much but cash flow is king. It doesn’t matter if you earn $1 less or $200 less than you spend, your still going under it’s just the speed that changes.
My mortgage is what’s killing me. I can’t bring that down with out some extra money and I don’t have extra money because of the mortgage. The other area that’s slaughtering me is my car, or ute for the Australia readers. I haven’t allocated any money towards replacing the vehicle either because I don’t have any money! Which means at some point I’ll have to get a car loan which would put me even further behind the 8 ball or under the 8 ball as the case may be.
So that leaves discretionary expenses and my car.
The car is looking like in might be on the chopping board. Which would me great for my wallet and my fat ass.
Have you had to make any hard choices? Any advice?
Budget Evaluation
I’m running through my expenses looking for area’s to cut. Here’s my list of expenses to cut.
Next will be having difficult conversations about finance. Better now than latter right? Any advice on that frugal scholars?