Here we go...
Income $1,612
Car payment $370
Car insurance $130
Cell phone $120
Rent $590 + $50 garage fee
Car insurance $130
Cell phone $120
Rent $590 + $50 garage fee
Utilities $80 (lower in the summer months)
Credit cards $150
Credit cards $150
Gym membership $27
Gas $100
Total $1,617
I'm about $5 over my income, and this leaves no extra money for food or entertainment. That's a problem, I need to eat and a social life is important. I don't really have much to cut back on, I don't have a savings or retirement fund.
So what are my options?
1. Lower gas - driving less and carpooling with friends
2. Use tax refund to pay down credit cards
3. Research cheaper car insurance
4. Cancel garage.
That's what I'll be working on this coming week.
Cheers
1 comment:
Hi Amanda,
I'm excited for you and your new budget plan. Budgets are hard to stick with, but I agree that it's important in the big scheme of life.
Have you ever listened to Dave Ramsey? He has a show on the radio from 7pm-9pm on fm105.7, he also has some books and a website. I've really enjoyed listening to his show and he is a great motivator to get your finances in shape. He has a step-by-step plan that I think you'd be interested in.
Keep up the good work! I'm excited to read your post for next week about how you took action on your cut-backs.
Cheers to you too!
Lisa
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