Random thoughts of an upbeat mind

It needs to be done

It’s time.

Last week I read this great post by Single Ma about focusing all your attention on one financial goal at a time.

On Friday since I was in such a good mood I figured I should research how one decides what weekly amount to put in the magic budgeting jars.

Right now I budget bi-weekly based on pay-day.  It’s great for the monthly expenses but the weekly stuff falls through the cracks sometimes. 😦

Googling how to determine what to put in the jars brought me to Gail Vaz-Oxlade’s website.  I went through all the steps to build a budget.  It calculated what to put in my weekly jars for transportation, food, entertainment, clothing/gifts and everything else.

Without further adieu … ta da!!!

JAR MONEY: Monthly Weekly
Transportation $130.00 $30.00
Food $390.00 $90.00
Entertainment $99.03 $22.85
Clothes/Gifts $20.00 $4.62
Everything else $210.00 $48.46
Total Jar Money $849.03 $195.93

This will be my budget for June.  I will try it out and see how it works for me and make adjustments where necessary.  I will take out my weekly amount on Sunday and not a penny more.

Getting amounts for the jar is crucial for operation get out of debt.

A long while ago I found this fantastic debt calculator spreadsheet.  I typed in my numbers and got a debt free date of July 2015.

Well …

Based on my current numbers that date has now been moved out to January 2016. 😦

This is not going to work for me.  Hence the renewed interest in the jars and more importantly following them.

It’s time for me to get serious.

It is going to be hard but I am able have no choice.


Comments on: "It needs to be done" (3)

  1. It will be hard, but nothing in life worth working for is easy! 😉 You can do it! I’m going to plug our numbers in & see what we get… I don’t have debt, but a small budget to work with!

  2. I’ve actually overhauled my June budget as well. I took out a loan last month and my income is at the lowest it’s ever been. I get paid weekly so planning has never been hard for me. Now that my weekly income is so low now though, it has become a bit tricky.

    I already have a plan though so everything should work out. I hope it does for you as well.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: