Thursday, February 3, 2011

De Rules of Spend Less...and Day 1

So to kick off my Spend Less plan with a bang, here are the calculations and rules I will be following.
After my fixed bills that are not included and $20 to savings every month, I will have $697 left to work with. If I times $697 by 28 days for this month, that gives me $24.89 per day to spend. I'm actually only going to pull $100 a week out for those variable expenses, and once the money is gone, its gone. that equals out to $14.29 a day with that little extra cushion in the bank if needed but I really am going to try to stick to my $100 week. So no more spending frivolously.



I also need to adjust how I pay my bills since at the moment the brunt of one check is gone to rent and I wouldn't have that extra money to take out. This is going to be quite the journey with alot of habits and niches I will need to change to make it work. It will be interesting to see if I can stick with it but I'm determined! I've made myself a game plan and I actually think its going to work. After tracking my gas, I've driven my truck for 7 days now and its only on half a tank. So a full tank should last me two weeks, or if I fill up when it reaches the half point once a week that will probably get me better gas mileage since I hear everywhere that the top half of the tank lasts longer than the bottom half for some reason. And thats going to be my biggest expense for the weekly money. So I think I got it figured out. I will be having my taxes come in soon but I'm not counting them my calculations since they are only a one time deal and are already rationed out to their specific categories.

So reporting for Day 1, yesterday, I bought a car wash for the car {bad idea since now the 2 back doors are frozen shut...and little water droplets are frozen in random places to the truck} which was $7. We also splurged and went to Mcdonalds for dinner which was around $18. So total spent yesterday, $25. This money, however, was taken out of the money I got for selling the Blazer. I ended up selling it for $300 and after buying some new seat covers and such for it, and a new backpack for Nate plus some odds and ends I needed like shampoo and deodorant, I have $160 of that left. Because of this extra money, I have not pulled anything from my bank account and will use it up until it is gone and consider it a bonus.


So in total- Money spent: $25
Money made: $160
Money left for the month: $832

Pretty good for day I think. I don't forsee any buying today so it should officially be my first No Spend day. Hope you all have a great day!

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