$$$ 2nd February Payday $$$
Final paycheck of the month and this year is flying by. Below is how we allocated our final payday and my next post we will be doing a review of our February spending. Were you able to challenge yourself? Did you save any extra money this month?
I will be showing you how we allocate our money, if you haven't read the 1st payday post, I suggest reading that one first. Just like that post, I will not be using my actual paycheck amount.
JP and I get paid on the 15th and last day of the month. When planning out our budget, we use the amount that hits our account. So, this will be after taxes, 401K, medical, FSA, etc. I suggest you do the same.
I used the same paycheck amount as my last post of $2,500. This will include any bills due before our next paycheck. We have listed our mortgage, electricity, internet, gym and yoga, and Netflix. Our gym includes a boot camp class for JP and my monthly yoga. You will also see $50 towards auto, which is for gas and any other various costs for our car. We also get an additional $300 towards food and the final amount is the remaining amount we needed for our flywheel. Remember, the flywheel is something we talk about and change as needed. The last thing you should notice is that JP's paycheck is not included. His paycheck usually goes towards savings, giving, travel and spending money.
I still have had people reach out saying how hard it is to budget because it is their first time doing a budget. It's ok to go over budget on items when you start because then when you review for the month, you will know that that category needs to be increased. Don't be too hard on yourself. I said this on my last post, but there is a learning curve. Most Americans have no idea where their money is going and that is scary. Once you start to see where you spend the most money, you will start gaining control of your money. So, don't get too frustrated and forgive yourself when you blow categories, especially food. This one is a hard one to gain control of for most families.
I still have had people reach out saying how hard it is to budget because it is their first time doing a budget. It's ok to go over budget on items when you start because then when you review for the month, you will know that that category needs to be increased. Don't be too hard on yourself. I said this on my last post, but there is a learning curve. Most Americans have no idea where their money is going and that is scary. Once you start to see where you spend the most money, you will start gaining control of your money. So, don't get too frustrated and forgive yourself when you blow categories, especially food. This one is a hard one to gain control of for most families.
Do you need help with your budget? I will put together a budget for you if you would like, just reach out.
Again, I ask, do you know where your money is going? Be sure to comment and subscribe.
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