weekly budget check


 

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 🙂

 

 

 

 

 

 

 

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4 thoughts on “weekly budget check

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  1. The adage “you can’t manage what you don’t measure’ applies to your budget. You’ve done a stunning job of keeping track of even small expenditures so that you can make wise decisions about your finances. Well done.

    Liked by 1 person

  2. These are great adjustments! I also like your realism. We’re all doing the best we can and some weeks are easier than others.

    I instituted a leftover budget account but I’m going to change the name to fun fund:). That’s exactly how I use it this month it’s paying for guitar lessons.

    Liked by 1 person

    1. guitar is an amazing instrument! excellent choice and yes it should be fun, there should be fun in our lives, even when we are careful about our money, we should not be without things that will enrich our lives. so well done with your fun fund, too and all the best with it and the guitar lessons! 🙂

      Liked by 1 person

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