Counting My Pennies

                      

The quote I wrote yesterday made me think about my finances... (here is the quote I wrote in previous entry)

Being without money for so long is like being on a starvation diet. When it starts coming in, it's as if something inside you goes off and you want to eat/spend everything in sight. (lol)

I have never liked to be like some people who have no problem living from paycheck to paycheck... Even though I live by modest means, I like to be comfortable with my money and that often means being more in control of where I want my money to go... And so... the gears within my brain cells go round and round... Because I am a visual person, it will go something like this...

Get a notebook and section it off into eight different sections with the use of sheets with tabs... More than likely, I will get creative here with fancy art or stickers or something to make it less scary. (lol) Insert notebook paper for each different section or make my own Accounts Receivable/ Accounts Payable sheets and print them out to insert in each section. Also insert a large envelope in each section to hold receipts. Viola! Instant Financial Planner...

Because in the bank it will show my money as altogether, it will be very important to keep track of where my money will be going in this notebook...

Each separate Make Believe account will be calculated as such...

10% = Charity Money (Church, Etc)

10% = Savings & Advancement

10% = Debt

30% = Household Bills & Expenses (Rent, Electricity, Phone, Water, Supplies, Etc)

20% = Health & Nutrition (Food, Vitamins, Medications, Dr Visits)

10% = Transportation (Insurance, Registration, Inspection, Gas, Oil, Repairs)

05% = Body Image (Clothing, Shoes, Cosmetics, Grooming, Laundry)

05% = Miscellaneous Expense (In Case I go Over, Etc)

Every pay period, the percentage allowed for each account will be calculated as income for that account. The plan is not to go over... That way, there is always more money to work from... If the actual expense amount is less than the percentage allowed, it will stay in the pot of each individual account...

* Charity and Debt will always pull the complete 10% percentage expense per pay period until Debt is paid off. Once Debt is paid off it will free an additional 10% to work with... Savings will also be at 10% every pay period, but the rule for savings is that it cannot be touched until I have accumulated at least six months of minimum living expenses... All the other accounts will work towards something...

* If the Household expense is less than the percentage allowed, the remainder of the percentage will stay in the account towards getting my things out of storage and moving into a bigger place.

* If the Health/Nutrition expense is less, the remainder of the percentage will stay in the account towards getting new eye glasses, contacts, exercise shoes, and possible lazer eye surgery or liposuction or lifting this or that in the future (ha!)

* If the Transporation expense is less, the remainder of the percentage will stay in the account towards the purchase of another car in the future. I wish this one could be more, but for now, it will need to remain at 10%. 

* Although 5% for Body Image is very modest for a career girl and most of it will probably go towards laundry, the remainder of the percentage will stay in the account towards the purchase of nicer clothes or shoes, an occasional pedicure,  or a special occasion dress, etc.

* If the Miscellaneous expense is less, the remainder of the percentage will stay in the account towards a mini-break or vacation.

"Spending money on whatever you want it to" is what gets people in trouble and causes people to live from paycheck to paycheck. The trick is to live below your means. Where would I have been if I had not saved my money?!! It will take a good while to recuperate the money that I have lost because I didn't have a job...

One thing I did not allot for is if a man should walk into my life... I guess the only way I will be able to allow him to remain in my world is if he doesn't cost me a cent. (lol)

Tags: !winivere-ProsperityDoor; !winivere-OneMillionDollars; !winivere-YouArePrecious; blogplugs