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New Budget

December 24th, 2011 at 05:16 pm

Hubby and I realized that our budget was not working. I mean, we weren't really trying and we both needed to cooperate in order for it to work. So, during the month of December, we created a new budget. We use YNAB and did a "fresh start". And we are really doing well! The month is almost over and the only thing we've overspent on was medicine, because we both got sick. Our personal funds were dropped from $100 per person per month, to $30. We cut a few things, and it worked out perfectly.

Now, with everything going on, we are very close to paying off our debt. And we are closer than ever to getting our own place. The new budget has been a challenge. I input all our transactions in the software, and it gives us these reports. Basically, we are living within our means now and saving more than ever.

And after I input all the transactions, it automatically updates our budget. And then I email the leftover amounts to Hubby. It's full disclosure. I can't hide any overspending, and he can't claim that he didn't know we didn't have the money in the budget. It's going to work out really nicely. After we pay off the credit cards, we'll finally be able to apply that extra money to saving for our own place. And I'll start putting money away for a new car for myself. In a few years, I expect to be able to buy a better car.

As of right now though, I'll take the little victories.

4 Responses to “New Budget”

  1. CCraw Says:

    That is great news, keep up the good work and Happy Holidays!!

  2. creditcardfree Says:

    Glad to hear it was a good month for you!

  3. PNW Mom Says:

    Great news! Keep up the good work!

  4. Jerry Says:

    Hey, way to lead that re-start to work for you! It takes some dedication, but even when things happen like illness, and you have to work around medicine costs or insurance copays, if you work with the resources you can make it happen. You set a good example, here! Smile Jerry

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