Bi-Weekly RevisionPosted: November 16, 2011
So it’s pretty awesome looking at our projected income for this upcoming pay period. The guy managed to work about 68 hours—which isn’t that bad for where he works. I don’t remember if I have overtime on this check or not. I’m thinking we’ll be able to contribute a lot towards both the car fund and the Christmas fund. That is the plan anyways. I know that I harp on it a lot but….I’d really like to minimize any amount that we are taking from our house fund. The one place we were looking at fell apart so it gives us some extra time to save—but again, we still want to be moving sooner rather than later. We don’t want to feel like we are taking advantage of the situation that we are in. I mean honestly, we could get away with saving $1500 for just the house fund—which would be the maximum month’s rent that we want to spend, max deposit, money for the deposits /utilities, and some grocery money. But me being the worry wart I am, I’d prefer to save more (at least $2k), which I have projected for us to hit by end of January. But if we get a loan for a used car: our insurance will go up and we’ll have to have a monthly payment for the loan—but we still should be fine. (I’ve made a few budgets 2.0, 2.5, etc to make a few estimates) I think…maybe…probably.
Anyways…back to my topic. I was revising our budget and I’m pretty sure I’ll be able to amp up all our saving goals. Like I said, the two main ones that I want to amp up are our Christmas and car fund. I am not counting our chickens yet, but it would be nice. To continue our mad savings plan, his work needs to cooperate and give him hours. Due to the holidays, it’s really hard for him to find people who are willing to give him some of their hours.
To help us stay on track with our goals, we’ve become a lot stricter about our “misc” money. The true misc money anyways—where it really does just get spent randomly. I don’t like to spend more than what we need to. So generally, we are ‘out’ of money for the week before we get paid. It’s there—but I choose to ignore it and pretend it doesn’t exist unless we really need it. This way I can just take that money and divvy it out amongst our goals. We’ve agreed to split it (at this point) with the majority going to: Christmas, House, Car and then to a lesser extent: the $500 fund and the medical expenses (I’m putting this off until after January so I’ll have the rest of November and December to save). So I’m kind of excited—I think we are staying on track with both our wants and our needs. I feel it is important to incorporate both into our budget.
When do you do your budget? Is it weekly, bi-weekly, monthly or even yearly? (I’ll be honest—I’m not even done with it yet and will play with it up until payday)
*Update on car situation: the one we really wanted to look at last night was sold within hours of me calling to inquire about it. The guy was nice and told me to call him on Thursday evening as he should have more cars then*