Monday, October 6, 2014

Budget

In my new fancy life of having a pay check and car payments and my own health insurance, I also have to figure out how to not spend all of my money on rose lipstick and cheap jeans.  Cue budgeting.  In the past, I've struggled with budgets, in that it works super well until Target has a sale.  This go around, the stakes are a little higher.  I've created a paycheck-based system, which I'm hoping will create high enough turnover that I don't lose focus.

 I'm fortunate to have a situation in which I could, pretty easily, never pay for food and rent is already not part of the equation.  I know it's a really different set up than most most postgrads, and I really am blessed.  Without going into too much detail (these interwebs are scary, twisted places), my budget is broken into Clothes, Personal, Food and Bills.  The bill category is by far the biggest (25% of my paycheck) and the three other categories together make up the other 25%. I'm able to save 50%, ish.  I also have a budget set up for travel and any additional money (birthday, extra work etc) will be used for splurges, so I'll figure that out as I go.

My financial goals are pretty standard.  I have a savings goal I'd like to hit ASAP, plus a few that will take me a while.  I'll post at the end of each pay period what I spent my discretionary budget on, to hold myself accountable.

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