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Posts tagged with: charity

A Different Perspective

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I posted several weeks ago about my Glamping Budget expectations, but I have been putting some thought into it think I want to change my perspective.  Before you jump down my throat, hear me out.

I wrote the budget anticipating income from two part time jobs, a small amount from child support and adoption assistance for the twins.  But two things, one of my part time jobs has thusfar been unreliable in producing hours (like 3 weeks with no hours) and two part of this move is to let me get on my feet, build a consulting business and save for the future.

So, since our overhead is going to be SUPER low, I have been thinking that I should budget my percentage rather than by actual number.  Ok, I don’t actually have a plan yet, but what are your thoughts.

It would look something like this I suppose and as any income came in it would be divided up based on these percentages.

Saving – 35%

Debt – 35%

Living – 20%

Giving – 10%

A little more of my thoughts on this:

Saving – when our Glamping time is over, I have to have a substantial amount of money to get us into something new, whatever and wherever that may be, having this savings is very important.

Debt – obviously need to pay off debt, big time!  So don’t want to slow down on that, but this would balance paying on debt with saving, and using percentages would leave no question of what to do on months I earn more, which I hope will come soon.

Living – In an ideal world, I think you are supposed to be able to live on 30-40% of your income, right?  Because our rent/utilities are going to be covered for the time being, I think we can live on significantly less, in fact, I’m wondering if we could live on less than 20%, but this seems safe for now.

Giving – I know many would say don’t give in the situation you are in, but frankly, we have been given so, so much that I cannot, cannot NOT give, so this is staying.

So with my regular income the last few months being right around $2,000 per month that would break down as:

Saving – $700

Debt – $700

Living – $400

Giving – $200

Breaking things down this way, really tell me I have got to get more work!  But aside from that, what are your thoughts on budgeting by percentage rather than by actual number? 

 


Where did the Christmas money go?

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I complained a few blogs ago about my inability to part with our budgeted Christmas money. Two years of no Christmas spending has formed some serious tightwad habits – and not in a good way.

I did buy a couple gift cards to restaurants for my siblings and I bought a shirt on sale for my husband. He also asked for a few small tools to add to his work bench so I stopped by the hardware store and bought him a gift card. I was $50 under budget and extremely proud of myself.

Shortly before Christmas, my husband called me at work and asked how much was left in the Christmas budget. When I told him, he asked if he could donate it to Rady Children’s Hospital. He had been listening to the radiothon all week and felt the kids needed it more than we did.

We donate a set amount to charity each month and in my compulsiveness, I hadn’t even thought to be more generous over the holidays.

I have become the Christmas Scrooge.

We gave the last $50 to Children’s Hospital.

Fortunately for me, I married a compulsive giver. Somewhere in the middle, I think we’ll turn out OK. Maybe next year, I’ll be a little less Scrooge-ish.