First, the new budget for 2016:
Based on the experience in the last 6 months of budgeting, I have now changed a couple of things in my budget for 2016. I believe they are good 🙂
1. Weekly allowance: I reduced it from $200 to $120 per week – it will include grocery, transportation, and weekend breakfasts.
2. For personal care and cleaning products etc.: I now have a separate category of expenses.
The reduction of the weekly allowance has been something that I have been meaning to do for sometime. It is now possible because of the separation of the cleaning products etc from the weekly allowance. In addition, I have got rid of an unnecessary expense, I hope for good, which made me feel very happy and help me save a chunk of money each week!
I feel rich and so abundant thanks to getting rid of this one last expense I have been meaning to cut for many years.. The struggle is ended and I feel completely free of it and the thoughts i have had about it. That my friends, is freedom and joy 🙂
3. Introducing “fun fund”; a new addition to my budget – I will accumulate whatever is left after each weekly allowance in this fund 🙂 I am excited about this, as it will give me freedom to spend money on things that I may love, such as hair cut, books, some treats to myself, etc!. I am so excited about this. The trick is to take the bus but not the cab; then I can save some fun funds each week. Nowadays the weather is really nice so I can do this, but as the winter progress, I may have to take the cab. Well, I can only do whatever is possible – so I am okay with not having a fun fund accumulation every week,
As before, I continue to have separate categories and funds allocated for my trip to home, gifts, dining out with friends, hosting people at my place, medications, clothes/shoes, and yoga classes.
This is an ambitious budget but I know I can do this and can save more than the past year, improve my emergency fund, and RRSP/TFSA contributions. I also know that not every week I will be able to keep up with it; but that is okay. All I can do is to do my best, which I will.
I am so excited, friends!
Now the last week’s account:
Total expenses in the weekly allowance category: $89.5
Fun fund: $30.5 ($120 allowance – expenses)
Savings from would be expenses: $184
Expenses in other categories: $504.5 (including yoga and shopping; ooops, too much. But I did not buy anything that I did not need. So that is okay).
anyways, wish me luck while I keep with this budget friends 🙂