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Zero Balance Budget

October 7th, 2017 at 11:44 am

I hae created my 10/15 - 10/31 zero balance budget and realized a CC that I had planned to pay has no monies due, I've already paid it. So the $54 I budgeted I'll put in my EF. I'm still working on Dave Ramsey's (DR) baby step 1.

For the pay date 9/15 - 9/30 I still have $80 left over for car insurance that I thought was due. I have my dad's truck and it's $80 a month. I'd budgeted the money and went to pay but nothing was due. I'd already paid it. I decided to put this $80 into my sinking fund (car). My car is old, 2002 Toyota with over 215,000 miles. I have to start socking some funds away for when the time comes. Hopefully I'll get at least another 5 years.

I'm following DR advice utilizing the zero balance budget and the envelope system. I have the following left to last me until next Friday, October 13th.

Groceries starting balance was $80, ending balance $50.13. Not bad, I'll be adding another $80 on Friday.

Personal (e.g gifts, toiletries hair) starting balance $145, ending balance $55.48. On Friday this envelope gets $200. There's two birthdays, and one wedding, I have to buy gifts for. Plus there's bosses day. Ugh. I hate that we are going into the holiday season.

Transportation started with $80, I have $20 left. I will be adding another $80. This envelope is strictly for gas ⛽️, my commute daily to and from the office is 60 miles. I wish I could work from home just one day.

Recreation/pocket money has $95 left. I'm surprised with this. I thought for sure I would have blown through the $100 set aside in the first week. DR was right, it's a different feeling when money leaves your hand vs swiping a card 💳 . You are very conscious about your spending. The upcoming budget period, I had to cut back in this category, due to all the upcoming CCs bills. I'll be adding $115 to this envelope. How I see it is, if I stay on this track, I'll have a nice chunk of change in this envelope and I could splurge at the end of the year. I'd like a new pair of earphones (wireless) and a new iPod.

Cleaning supplies started out with $25 and I still have $25. I'll be adding nothing to this envelope for the next period.

Only thing that gets me down and a tad bit discouraged is that the BF is not participating in the Financial Peace University activities. I need the class but he needs it more than I do. I've told him, I will NOT get married if his finances aren't improved. Just wasting my time but that's a different story.

Today I'll review my weekly spending, sew a few pillow covers for gifts, and do a little work for the office so that I can catch up.

Had a phone interview with a recruiter. Position is closer to my house paying about $15k more. She liked me and will be moving me forward to the hiring manager.

4 Responses to “Zero Balance Budget ”

  1. creditcardfree Says:

    I can see you are doing really well!

    How close are you to achieving Baby Step 1? Remember you are supposed to be gazelle intense on this. Well that's what Dave says, and I happen to agree. So shouldn't money for car replacement actually go to BS1? And I wouldn't be buying headphones and iPod before emergency fund is at $1000.

    You might like watching Budget Girl on YouTube. She spent three years paying off student loan debt of over $35K. She paid it off earlier this year, so you should watch some of her older videos. She is currently working on her fully funded emergency fund. And she is a huge DR fan.

    Make a plan now for Christmas. Consider cutting back who you buy for, and they lower the amount of your budget for those you do. Look for deals and coupons to help you stay on budget. I personally only buy for eight people! Budget is $600.

    Sorry the finance isn't fully on board with FPU. I do hope that job comes to fruition for you!!

  2. Amber Says:

    Thanks CF you're right, I'll put the funds in the EF. I'm not very close to the $1k, I think it's because my dad left me a decent amount of money that I'm not touching. I want to build my own wealth, something he'd be proud of as well as myself. It only make sense to be gazelle intense and knock out baby step 1.
    I'm also going to check out Budget Girl. Thanks 😃

  3. Turtle Lover Says:

    I am enjoying your tales of FPU
    when I was first getting out of debt and DR had a show I watched it
    I am a person who is better at debit card than cash
    but having a budget and having things get paid and not being afraid or worried
    to pay bills is a great feeling. Congrats to you for taking this all in!
    I'm looking forward to your continued posts!
    :-)

  4. snafu Says:

    Kudos for the progress on taking charge of your finances. Can we help with issues that swirl around Christmas and thee holiday season? Like CCF, my experience confirms, a small amount of planning makes a big difference to improve the fun factor. Suggest reviewing your 2016 gifting list making appropriate changes. Does your family have a Secret Santa or name draw to keep gifting manageable? Are you willing to take the lead and introduce the concept? Are you required to travel?

    What festivities are typical at work? Does the employer host a dinner? Are you expected to buy gifts for supervisors and contribute to a gift for Boss? What gift exchange and entertainment costs includes friends and neighbors? Is fiancé your one major gift or does he anticipate lots of stuff?

    Start watching for no cost, low cost community, entertainment events. Our City spends a ton of taxpayer money hosting holiday events and we go to several of interest like the Holiday Train or big park evenhe largest shopping centre is totally awesome.ts. Live 'mannequins' at t Serving dinners and singing carols at a charity event has become a favorite get together for a group of our friends. It's far more fun than you can imagine if you've never done it! We make a lot of gifts as they are more appreciated than bought stuff to fulfil an obligation. This year I'm working on personalized, 'bullet, journals 'using photos from events of the past.

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