This month we made a budget and have been keeping track of our daily expenses. Here's the first update.
The good news:
My husband is in sales, so this month instead of blowing his commission check on junk or a fabulous European vacation, we paid off a huge chunk of our credit card debt. We thought it would be a good way to kick start our new lifestyle! That, coupled with a few other things we've gotten rid of (bye bye cable) we have cut this month's expenses by $552! Yay!
Now the bad news:
Here's a few examples of where we are at on Day 10:
We've spent . . .
83% of our General Merchandise Budget
77% of our Entertainment Budget
47% of our Grocery Budget
43% of our Restaurant Budget
16% of our Laundry Cleaning Budget
If we continue this way, we certainly aren't going to make any real progress on our outstanding debt, and have a huge pile of dirty smelly laundry. I'm feeling disappointed and embarrassed of our spending habits. I didn't even think we were spending that much!
The good news is the month isn't over and we haven't hit 100% in any categories! I have a fridge full of groceries. I have enough toilet paper, detergent, paper towels (bad habit), and soap to last us the month. I'm giving us five days to get back on track. Five days is nothing! Only problem is that Valentines day falls in that time period, and I forgot to budget for that. But it's ok. I'll just have rush deliver these sexy pink fuzzy handcuffs! Solves that problem on so many levels for only $3.29!
But seriously, once you started keeping a budget, how long did it take for you to actually accomplish your spending goals? Did it take you a month or two to figure it out? Or are we just over spending idiots?
Have a good weekend!
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