Until last month, I wrote down what I spent, but I didn't actually have a budget written down. Then I tried it last month and was surprised at how much I spent in the various categories. I can see that this is going to be an ongoing tweaking experience.
I think my work income is steady. I've upped my retirement contributions and all of the deductions have been taken out, so I have a good idea how much I get to take home every two weeks.
I will be messing with the budget numbers, but I'm also thinking about the categories. I would like to add an allowance aka "blow money" category. I don't want to track every latte under the out to eat/entertainment category. At the same time, that seems kinda silly because my money budget is just that. MY money budget. I am the only person I am budgeting for, so why do I need an allowance?
The second category is an "exercise/body" category. I am making it a priority to exercise and I think I would like to have a category to track what I spend for that. Examples include the heart rate monitor I bought this month, race entries, exercise-specific clothes, stuff like that. Right now, the heart rate monitor went under personal care. Not exactly what I was thinking when I created that category.
Yesterday was a NSD. I worked until 6, then went to the indoor track and ran for 25 minutes. Went home, made mac & cheese for dinner and watched "Til Debt do us Part." The boyfriend is on a run to New York, so I have the house to myself for a few days.
I'm hoping for another NSD today. Tonight is spin class after work, I plan on eating frozen egg rolls and a salad for dinner, and I hope to read my "Shadow of Night" book. It's a huge book and is due back to the library on the 21st, so I've got to get it in gear to finish it by then.
Budgeting categories
February 13th, 2013 at 04:34 pm
February 13th, 2013 at 05:29 pm 1360776583
February 13th, 2013 at 06:27 pm 1360780047
I have major categories and sub-categories. For me, the heart rate monitor would fall under Major Category "Medical/Dental/Vision" sub-category "OTC Items." Race entries would go under "Recreation." Exercise-specific clothes would go under Major Category "Personal Care" sub-category "Clothing." But for you, it may make sense to do an Exercise/Body category for the race entry & clothes.
Regarding "blow money" you could either have a Blow Money category, or put it under Recreation or something else. A very easy way to want to deal with budgeting blow money without having to track every single penny is to carry a little coin purse in your handbag. If your "blow money" budget for the month is $40 for example, just stick $40 cash in the coin purse at the beginning of each month. Any time you want something that falls under the "blow money" category (magazine, latte, manicure, drink out with friends after work, etc) pay for it with cash from the coin purse. You can very easy see each time you open your purse how your blow money is holding up. If you are down to $5 and it's only the 3rd of the month you'll know you need to lighten up on the "frivolous" spending. When that money is gone for the month, it's gone. No more lattes until the next month!
February 13th, 2013 at 08:32 pm 1360787520
Your plan to track your exercise/body spending is terrific. I'd include anything that contributes to your Wellness Strategy like clothes, shoes, equipment, monitors, entry fees, special vitamins, SAD lights, specific lotions for example. You can likely measure health benefits like reduced BP, weight, improved diet, new habits.
February 13th, 2013 at 09:14 pm 1360790067