Spending Report: First week of February

Beginning Balance: $212.52

Income:
+$2,454 February paycheck
+$50 babysitting cash (not including in ending balance)*

Expenses:
-$30.39 Gasoline
-$1.48

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  • I’m so excited for you..how fantastic!

    So what did you cut from your usually budget to be able to put $1200 towards your debt this month?

  • Good question! $200 is leftover from January’s budget (the beginning balance of today’s SR), and for February I cut out pretty much any frivolous spending, such as clothing, home improvements, personal care, trips, etc. Because it is a short month, I think I will be able to make it. I am also expecting to make at least $200 babysitting to cover any unexpected expenses.

  • I’m starting a car maintenance fund too – something I’ve never really kept up with before. I like the idea of putting any surplus towards an upgrade as well!

  • The car repair fund plan works very well – I do the same.
    Where I think you can make a significant saving is on your cell phone expense.
    I highly recommend you cancel your cell phone contract if you have one, and switch to a prepaid ‘Straight Talk’ package you can buy at Walmart – it only costs $30 per month for 1000 any time / anywhere minutes & 1000 text messages – a bargain!
    Or you can choose the $45 per month prepaid ‘Straight Talk’ package from Walmart for unlimited calls and unlimited text. It even paid me to cancel my cell phone contract – you make a saving of about $1200 over a period of 2 years.

    Regarding cutting down on your grocery bill –
    1) try cutting down on meat dishes in the month by cooking a bean caserole for example.
    2) buy a ‘economical recipe’ cook book which can save you a few dollars every night by using cheap ingredients. Just because you are using cheaper ingredients in the dish does not mean it is less tasty than a recipe with more expensive ingredients.