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Budget is working!!!!

November 2nd, 2010 at 01:42 pm

My informal budget plan-- to spend no more than $400 a week for everything, such as diapers, formula, clothes, gas groceries, etc...ALL of it-- is actually working.

It's crazy. It's been about six weeks since we've started and it has been on the mark or slightly under every single week.

As a result, I was able to up the contributions to the kids' 529s by $50 a month and add $50 more a month to the savings account. In another two weeks, I may feel confident enough to up the savings a little more.

All of this, and we have still spent on extras and stayed under budget. I bought most of the kids' Christmas gifts, paid our entry fees for warrior dash, and bought some fancier cuts of meat to help me feel less deprived on my 6-week weight loss diet.

I guess I wonder why I didn't do this sooner.

14 Responses to “Budget is working!!!!”

  1. Joan.of.the.Arch Says:
    1288705551

    Way to go!

  2. creditcardfree Says:
    1288706889

    Nice job!!

  3. NJDebbie Says:
    1288709109

    Excellent!

  4. campfrugal Says:
    1288711075

    Great job on staying within budget.

  5. Looking Forward Says:
    1288720193

    That's great! I think I might try "copying" you.

  6. momcents Says:
    1288720752


    I became inspired to "save" as much as I could from the "spend" envelopes. It is unrealistic for me to think about doing that during Nov/Dec (our high spending months). But I am inspired now to see how much I can save while spending.

    Good going!

  7. scottish girl Says:
    1288720754

    Brilliant!

  8. Ima saver Says:
    1288723462

    Good for you!

  9. ThriftoRama Says:
    1288751284

    I think it works because it's simple. A spending cap that includes everything, rather than sitting down and trying to say $40 for food, $60 for gas, etc. Not too much to keep track of. I just have to keep a running tally in my head, which isn't too hard.

  10. Homebody Says:
    1289057640

    I agree with Thrift. When doing the envelopes, I get stealing from others, I think a set amount for everything is good.

  11. Dandi Lion Says:
    1289090587

    Whatever works!

  12. Debtnomore Says:
    1289411203

    That's great! Yeah I find I rob envelopes when trying to do the envelope system. I kind of have an idea of what to spend on food but it's not something I'm going to worry about if I go over. As long as I stay within how much I plan to spend during the week.

    It's amazing how much better we do financially we have a plan..even a really simple plan.

  13. ThriftoRama Says:
    1289524382

    Today was surreal. My budget is set for $400 a week. ($800 every two week pay period) Paid the bills for the past two weeks today and they all came in under $550. I have no idea how that happened!

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