Last night we had our budget meeting for March! The biggest change we had to make was the amount of income coming in since I am no longer making any monies right now womp womp. The good news is the expenses we do have are pretty minimal so we were still able to throw extra at the house payment with the one income from my sugar daddy 😛
We have a few March birthdays and had a family death so we made a budget for how much we were spending on birthday gifts and how much we were giving to the family at the funeral. My family is Japanese and we have a custom of giving money or Koden when someone passes away to help the family with any costs. The immediate family of the deceased will then pay for a lunch or dinner for everyone after the service to appreciate all the koden. So we added these amounts in for planning our March budget.
We also cut a few things down. I cut my cosmetic budget in half since I have no need to get all dolled up everyday now. Most days I don’t even wear makeup or get out of my PJ’s (don’t judge) so I don’t need as much maintenance. We also cut down our fun money so we are tightening up how much we spend on eating out and going out. We will be eating at home most of the time or doing more free activities to save money. We still have fun money just not as much….you still have to get out once in a while but in moderation! The husband also canceled a few services such as Spotify. We made these cuts to account for the March items above and to pay a certain amount on the house….sacrifices!
We didn’t think there was much to cut at first and thought we were already pretty tight (that’s what she said) but the fact is you can always find things to cut or trim down. We don’t even have cable and haven’t for over 10 years we are pretty minimal people, but even we can cut more. In fact, we are going to look into a different trash service that is more affordable and call Comcast to hassle them over a cheaper internet price that likes to increase every month. There are always things you can look at and every little bit helps. Just because we only have one income now doesn’t mean we are going to stop our goal of being debt free.
After taking our income and subtracting out all our March expenses, including the extra payment on the house, we still had a little leftover. We decided to keep this extra amount in savings since we have a tax payment coming up in April (ugh) and I might need some money for business expenses. We have a savings category for planning up-coming expenses so we don’t have to dip into the emergency fund. We still have our 8 month emergency fund sitting in the bank for emergencies. So the rest went to our savings category in order to get to a bottom line of zero. Every dollar coming in is accounted for and every dollar has a plan.
Have you done your March budget yet?