by Hope
This is my actual income and spending plan for this past week. The items in bold are either different than my anticipated number or were not in my anticipated list from last week.
| Sea Cadet | 24-Aug-18 | 50 |
| Auto – Gas/Main | 25-Aug-18 | -40 |
| CS | 28-Aug-18 | 175 |
| Upwork | 29-Aug-18 | 173 |
| Princess’ Camp | 30-Aug-18 | -200 |
| Loan | 28-Aug-18 | -50 |
| Football Cleats | 24-Aug-18 | -67 |
| Household Supplies | 30-Aug-18 | -27 |
Details:
- Princess had just under $300 saved towards next years summer camp. We went ahead and made a $200 payment, $12 more than was required on the monthly plan.
- I loaned History Buff $50 for something, he will pay me back with his next paycheck. (Please do not presume anything, he is starting to turn his life around and is planning to move home in a couple of months after he ties up some lose ends.) He is working 2 jobs and has learned some hard lessons.
All in all it was a quiet week. Both kids were in sports practice every night until 5:30pm, then we were home to eat and do homework. We are all falling into bed exhausted by 10pm.
Sea Cadet is working his new job and continuing to pursue his Advanced EMT certification at school two nights a week. It’s hard to believe one year from now, he will graduate and be ready to spread his wings.
Hope is a creative, solutions-focused business manager helping clients grow their business and work more efficiently by leveraging expertise in project management, digital marketing, & tech solutions. She’s recently become an empty nester as her 5 foster/adoptive kids have spread their wings. She lives with her 5 dogs in a small town in NE Georgia and prefers the mountains to the beaches any day. She struggles with the travel bug and is doing her best to help each of her kids as their finish schooling and become independent (but it’s hard!) She has run her own consulting company for almost twenty years! Hope began sharing her journey with the BAD community in the Spring of 2015 and feels like she has finally in a place to really focus on making wise financial decisions.
Camp payment question? If your daughter has the money partially saved, wouldn’t you put a $200 deposit into your account from hers with which to pay it? So you zero out since she is paying for camp?
That is correct, I did forget to account for that $200 transfer from her account. Good catch. Thank you! Will remember for the next payment.
Intake amount is $398. Output amount is $384. Is the $14 difference going into savings or is it going into debt repayment? Have you figured out how you are going to handle that with a variable income?
We are mostly living on last month’s income. So while this tracking method works for accountability, it does not show the cushion we are living off of right now.
Right now, I am not putting anything extra into savings other than my $5 cash savings. Debt payments will be shown in weekly updates along with all other bills. Needless to say, the first week of the month is a big one with lots of customer payments and most monthly bills.
That being said, when there is “extra” I look at debt to put it towards. Those number will show up in actual spending if there’s an extra payment made vs regularly scheduled one. Does that make sense? Still working this out.
Living off last month’s income is fantastic! That means you know exactly how much money you have to spend in September based on the income you earned in August. With this in mind, you should be able to create a monthly budget for September. Looking forward to seeing the numbers! Great job!