HI, everyone! As in any relationship, I have really taking the lead on the 'budgeting'.. I ENJOY doing it.. i enjoy watching savings increase & spending cash if/when we have to buy big ticket items & still have money in the bank. Husband (H) has asked for a new lawn mower (which the last two years we've lived in this house we've paid someone to cut our grass, no reason why we can't save there), a weed wacker and blower recently - and we were able to purchase it without a credit card and still have money in our savings for a Sinking Fund, I call "Household".. it's actually through Ally Bank (which is an on=line bank account) that we deposit $25/week in to build up. Yesterday, we had to get the car sticker done on one of the vehicles and I had to purchase a few household items, so that's where the $$ came from. What a nice feeling - I love for it to come out of it's appropriate account & not worry to transfer from here to there, and then wonder what may 'bounce'.
Other Sinking funds I have on this one Ally account is Grace's birthday, Car Maintenance, and Vacation (if that ever happens this year - I think just a visit to his mom's will happen..), but we will slowly build up to go on a cruise next year.
I was just texting with my good friend, Pam - early morning texters we are.. and we love our budgeting. It's soo true that it is SO IMPORTANT to have a plan with incoming money .. I went over our budget by paycheck method (H & I) last Friday night, we sat at the table & I showed him everything. He was impressed. More importantly, we have a plan..and I'm already looking in June and seeing where we can cut and where we can add more extra payments to debt. (My goal is to be debt free by the end of this year on credit cards!)
If you read this & feel overwhelmed.. please reach out to me.. the first thing in budgeting is to get tracking your expenses.. know where & how much you are spending your money. This really is the first step!
Til next time..
pattie
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