Thursday, January 31, 2013

a simple way of budgeting

I have seen a lot of other bloggers posting about ways to budget money and to save money. Envelopes. That is my new way of saving money and budgeting it as well. When you make an envelope labled "household items" this could range from anything you consider to be household items. Estimate as close as you can to how much you would actualy spend on that section. Say $50. so stick $50 worth of bills in there to cover the expense, also stick in the coupons you plan on using. any change you recieve from that transaction, put back into the envelope for an emergancy. So write down everything you buy, how much you plan on spending, make an envelope, when you get the money put it in there and take them where ever you go. Do not borrow money from other envelopes. this will cause a big mess because you will end up short somewhere else. make an envelope just for the use of incase you go over from a different envelope. put aside some money for sale items as well. say about $40 give or take a few. This will allow you to control your splurge spending too. We as americans are used to impulse buying. but if you don't have the money do not get it. All of your envelopes should first be everything you need. Then the money left over is what you can spend on the little things you want.
Buy everything you need for the month at one time if you can. I only get paid once a month as does my boyfriend. So its easier for us to run out of money at the end of the month. Because of this when we run out of something at the end of the month we are looking for a way to get it because we dont have the money. So starting next month (february) I am doing the envelopes. and buying everything I need when I get my paycheck.
Clearance. Anyone with a low income or budget should shop first in this section. Sometimes the box of diapers is ripped, so its marked down a couple bucks, thats a couple bucks you can spend on wipes or another box of diapers. I love shopping the clearnace section because you can find something in there that you can use a coupin with too, making it even more cheaper, saving you even more money! 
I like the 1 thing in 1 thing out rule. If I didn't donate anything my house would look like a hoarders, but i am not a hoarder. I do not dress up alot. okay, maybe once or twice a year do i ever dress up. So when thinning out my clothes, again, i will only leave 2-3 shirts that are dressy and 2 dress pants. That way i am not hanging onto something someone else can use. Why have it when you don't need it, when someone else can have it?

Next blog post will be about my plans on how i want to organize each room!!!!!

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