Budgeting Journey - part 1

 

Budgeting Journey - part 1

I am the first to admit that I used to spend a lot of money on unnecessary things. Food and coffee deliveries mostly. And not just me but my husband as well. However when you have two bundles of joy depending on you, your monthly expenses add up. To a lot.

Flashback back in May when we were close to coming out of quarantine. I was trying to figure out how to start saving and tracking our money. I stumbled upon a blogger on Facebook "The budget mom" and I was intrigued. I had never budgeted before. So I thought I would give it a try.

Now not all things on her website are applicable for me (different countries plus I don't have any loans or credit cards to pay back) BUT! her way of budgeting made me feel that it was easy and accessible.

So the basic idea is that you write down all your expenses and at the beginning of each month you put the money for each one in a separate envelope so you know where to spend them. Then what you are left with is the actual amount you have to spent or save on other things.

I discussed this with my husband who was not so excited to be honest. But he agreed to give this a shot. And so in June I begun using the cash envelope system. Since I did not want to spend a lot of money on fancy envelopes or diaries I ordered these from amazon:

A6 envelopes with zipper

Planner with a ring binder

For a total of €20! (depending on how many envelopes you need)

And thus begun my journey! 

I wrote down everything I could think of! And boy it was a lot! Kindergarten fees, speech therapy for my eldest, groceries, gas, gym, insurance fees and utility bills to name a few! I also added a savings expense so as to force ourselves to start saving. Even if it was just a tiny amount per month it was put aside. 

The money left for our personal expenses was shockingly few. However at the end of each month, all our bills have been paid, a small amount has been saved for a rainy day and before spending any money from our personal wallet we at least know if it's something we can afford.

Part 2 coming soon!

Make sure to check out The budget mom's tips!

Back Again!

 Hello again!

I can't believe it's been so many years since my last post.

I was just beginning my journey to being responsible for a household and now, 5 years later, I find the need to post again.

Many things have changed, including two bundles of joy as well as the current situation with covid and lockdowns, however I still find myself looking ways to make my life easier in order to have a working household and a life!

Stay tuned! I have many things to share!