Budgeting when you’re finances are a hot mess

Happy August loves!

With the beginning of a new month comes a new opportunity to start fresh. One of those things is to create a new budget. This past weekend hubby and I sat down to create a budget for August. We’ve had a major wake up call (hello garnishment) and we know that we have to get serious about our finances. Plus we’re just tired of being broke. So we sat down to what should have been a simple process. What we realized is that our finances are even worse than we thought (a hot a@! mess). Income isn’t as much of the problem, as it is poor management of funds. Specifically, we are spending way too much money paying late fees, overdraft fees, and robbing Peter to pay Paul. All because we don’t adhere to a plan when it comes to our money. I know, silly right?

In the past when I sat down to create a budget I would feel overwhelmed, and when I feel overwhelmed I just don’t deal with it. I know, I know. That’s totally not the right approach, which is one reason why we are in this situation now. So I pushed through, teary eyed and all. I have to say that the difference this time is that I’m really sick of not being able to take a vacation, not having enough money in the bank between payday’s, not being able to have a peace of mind that things are taken care of. I’m ready to do the work to get the results that I have been saying that I’ve wanted for the last five years.

I grabbed a calendar and got to work, I used the Happy Planner, because I had one that wasn’t being used. I listed all of the bills by due date on a two page per month calendar. This way we can easily see what, when, and how much our bills are at a glance. The calendar also includes our payday’s, fuel, groceries, our son’s lunch money, haircuts, etc. Each expense has the amount that we anticipate we will spend next to it, and each payday has the anticipated amount of income. This particular planner comes with a week on two page spread. Here I listed my meal plan (breakfast, lunch, dinner, and snacks), because meal planning is super important when you need to stick to a strict budget.

It’s definitely not perfect, but it gives us somewhere to start. From where we are, we can make adjustments as needed. Our plan is to sacrifice as much as we can right now to stop the bleeding. We’ve already cut the cable cord, but I’ll tell you more about that tomorrow.

Once we are current on all of our basic bills (Baby Step 0 for Dave Ramsey fans), we will move on to building our savings account (Baby Step 1). Our goal is to have everything caught up by September 15, 2017. I will keep you all updated.

Sending you positive vibes, love and light!

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4 thoughts on “Budgeting when you’re finances are a hot mess

  1. I definitely need to write down a budget more. I don’t end up with a negative or low balance often, but I want to knock these cc’s from the horrible 20s out the way. lol Thanks for the reminder.

    Liked by 1 person

  2. So ironic… I just sat down and created a plan to buy a house that included a serious financial assessment as well as a budget! I’m going to need some serious stick-to-it-ness to pull this off! Please send me some good vibes! Lmbo

    Liked by 1 person

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