Thursday, October 9, 2008

financial plan of the week

Trying a new spending strategy this pay period. Tested it last one and it's coming together. Here's the scoop:

I budget out what I owe each paycheck to my standing bills, then any payments to friends or organizations that I need to get during that pay period, then I figure out the number that I have left for me for the next two weeks (i.e. $150). I then divide that number in four: week 1, weekend 1, week 2, weekend 2. I allow myself the quartered amount for that time period.

This time around in the experiment I am trying to then take the extra money not spent and store it away to start a Savings Account.

The only thing new going on my credit card is expenses that are out of the budget realm: wedding and milestone birthday gifts and necessary travel-related expenses.

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