Here we are looking at 2010 as a new fresh blank year. Will 2010 be the year to expand our family, go back to school, move away, switch careers, change jobs, rent out some rooms, abolish some gloomy clouds of debt? We shall see. It is always exciting to think what could happen. What are your hopes for 2010?
One of our biggest complaints has always been our little annoying debts and not enough savings, so that was our first thing to tackle in our goals for 2010. We set up a budget plan that is very simple and we will review it in a few months. Our paychecks go into the bank, that money then goes towards bills, savings, or $500 which is taken out in cash. That $500 becomes $300 for groceries and $100 each discretionary spending cash ( for things we want like coffee, eating out, new shoes, etc.). Anything else we may truly, truly, truly need (like new brakes on the car) would come out of savings.
We are at week two into the budget and here are some of my thoughts:
-I need to be more careful with my $100 allowance because I only have $24 left
-We are eating really healthy and have plenty of food yet.
-I love the freedom of having cash in hand because when it’s gone it’s gone and you can’t impulse buy!
-I like the creativity that I am forced to come up with for repurposing things instead of running out and buying more.
-I am paying more attention to unplugging and turning things off etc.
Using cash is awesome, awesome, awesome. It is so much easier to really know how much you are spending and what your limits are. Try it for a month. I promise you that you will save money.