On that Eating Out line item, budget $100 but try to spend as little as possible. Use the left over money as 3xtra debt repayment. Do the same with each of your discressionary variable expense line items.
One month ahead on your bills would mean that you would be paying for October's bills with money earned in September. Or, you carry a negative balance of one month's billing amount on your accounts. For example if you pay one month ahead on an electric bill, the billing notice shows a negative.
I started a system where I use the income from one month to be the amount I spend in the next month. So the money I earn in October is what I budget to spend in November. That way I'm one month ahead. This is helpful because my spouse has variable income.
@@gotitrightonce88 I have a budget that has my necessities and then if I have good income the sinking funds, savings challenge goals and extras are ranked so I can go down the list and fill those. I think it’s important with variable income to make sure your basic needs are predictably covered by your income. In terms of getting one month ahead I think I used a month with a windfall such as my tax return to break the cycle of spending income in the same month I earn it.
@@gotitrightonce88 also, over time, having money in sinking funds for categories like car maintenance insulates you from the ups and downs from income.
Please, please, please get yourself a savings account totally separate from all others to set aside taxes in. And then, subtract an estimated amount for both IRS, state income taxes, and any other applicable taxes. In this area, there is more than one credit union with savings accounts which only require a $5 minimum balance and no monthly charges.
On that Eating Out line item, budget $100 but try to spend as little as possible. Use the left over money as 3xtra debt repayment. Do the same with each of your discressionary variable expense line items.
Happy October! Are you working on debt payoff too? What are your major budget struggles?
I love the new debt payoff trackers! Super duper cute 😍
Thank you! I’m excited to start coloring 🤗
One month ahead on your bills would mean that you would be paying for October's bills with money earned in September. Or, you carry a negative balance of one month's billing amount on your accounts. For example if you pay one month ahead on an electric bill, the billing notice shows a negative.
yes to weekly check ins! so i don’t have to wait once a month for your videos! hehe
Aww can’t wait 🤗
Hi! Great job making it work on a tighter budget. Praying your hubs finds a good job and yall can hold on till Nov w your spending
Thank you! I am hoping it all works out 🤞🏼
I always hide the school snacks in my bedroom because that would happen at my house too lol
I think I’m going to have to do that… my husband and kids tore them up! 😂
I started a system where I use the income from one month to be the amount I spend in the next month. So the money I earn in October is what I budget to spend in November. That way I'm one month ahead. This is helpful because my spouse has variable income.
I love that and that makes sense!
How did you end up doing this? As in the process of you don’t mind sharing? I also have variable income
@@gotitrightonce88 I have a budget that has my necessities and then if I have good income the sinking funds, savings challenge goals and extras are ranked so I can go down the list and fill those. I think it’s important with variable income to make sure your basic needs are predictably covered by your income.
In terms of getting one month ahead I think I used a month with a windfall such as my tax return to break the cycle of spending income in the same month I earn it.
@@gotitrightonce88 also, over time, having money in sinking funds for categories like car maintenance insulates you from the ups and downs from income.
Please, please, please get yourself a savings account totally separate from all others to set aside taxes in. And then, subtract an estimated amount for both IRS, state income taxes, and any other applicable taxes. In this area, there is more than one credit union with savings accounts which only require a $5 minimum balance and no monthly charges.
What kind of tablet is that?
It’s an iPad Pro!
Please do try to stay away from auto pay as much as possible.
7k?? Im in the wrong business
new subbie
Welcome welcome!