Tuesday, January 13, 2015

Planning my budget and spending...

Yesterday I sat down and figured out which paychecks will pay which bills, which rental income will pay down debt and put money into savings and whatnot.  I'm sure this will probably change or shift as the year progresses, but it felt really good to plot it all out.  If I'm able to stick to the plan I've made, I should be in really good shape by the end of the year and I will have made great strides in reducing my overall debt along with building a comfortable savings account.  I am paid every other Friday, so I was having a hard time setting up a budget based on months.  Instead, I plotted out each of my paydays and the date my rental income will come in, then figured out which bills will be paid out of the incoming money.  I've included adding extra to my savings account along with way, this is on top of what I have already direct deposited into savings from my paycheck.  I was feeling a little overwhelmed with facing the bills with having to pay rent at the apt. with the BF and my mortgage payment on my rental condo, but now that it's all plotted out, I feel really good about where it all sits.  Plus, I'm a planner, I love to see it all down on paper.  Dorky I know, but it works for me.  :) 

Have you made a budget or spending plan for 2015???

Current debt:  $221,461.10

1 comment:

virnsky said...

Yes, we did our budget for 2015. I'm really hoping to make some significant mortgage pre-payments.