June: Stay Unplugged

May: Run a 5K

April: Beautiful Nails

March: Get Organized

February: Picture Projects

January: Get Healthy

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I started this project 7 months ago.  My main goal was in January, and the next one I knew I needed in my life I have been putting off.

Getting a budget.

I kept saying it was a bad month to start it.  I wanted to wait until after I had my tax money, then until I had my raise, then it was the start of summer.  Really, there was no good time for me to take this on.  So, no time like the present.

My problem: I have champagne taste on a beer budget.  It’s ridiculous.  I have tried to cut back on my spending habits and put money aside.  But, I am horrible at it.  This has led to a number of bills piling up, and me unable to put a dent in anything.

My solution (I frikken hope): I have downloaded an app to track all my expenses.  I am going to write out all my income and expenses and see what I can/need to cut out.

I am hoping by forcing myself to stick to a budget for a month, I will see all the ridiculous things I am spending cash on and learn how to start getting out of debt.

Do you having any easy budgets to follow?  Any apps you recommend?  Should I meet with someone from a bank to help me figure it out?  HELP.  I am not looking forward to seeing the damage I have done.

 

5 Thoughts on “A Year of Resolutions: July

  1. lexi on July 2, 2014 at 12:35 am said:

    I love tracking my income and expenses. Ha. I use mint.com and also i fill out a spreadsheet to track the year, at a glance. I keep it simple and limit the number of categories I use in mint.com. Depending on how much debt you have, visiting a bank isn’t necessary. Automatically transferring some funds from your checking to savings account is a good idea. Do this on your payday, that way you’ll be less likely to spend it. If you’re a home owner and have equity in your home then you could do a home equity line of credit. The interest rate is low on HELOCs but its not necessarily the answer and can get some people in more trouble if they don’t change their bad habits.
    Debt consolidation loans are usually unsecured so they are harder to get with a higher interest rate. I can only lend someone 15% of their income at my bank. You also have to judge the person’s character and trust they won’t rack up more debt with the new loan.
    Dave Ramsey talks about the debt snowball plan which i suggest to friends to help them get out of debt. Pay off your smallest debts first, then move onto the next one. I don’t agree with everything he says but this works.

    • sliceofmudpie@gmail.com on July 2, 2014 at 7:38 am said:

      Oh my goodness, that is a lot of information :). I am mostly scared that my income barely covers all my bills, and then I have to add in the debt :(. EEKS. I will have to look at Dave Ramsey, a few people recommended him!

  2. I agree with Lexi about the snowball idea. Kevin and I saved up $1000 in our savings account and then have paid off 1 of his credit cards already….we are working on the next one! We could be working harder at this….but at least it is working. We have been wanting to pay off debt for 3 years now and the snowball concept is the only thing that finally clicked for us! Good luck! I can’t wait to hear how you do!

  3. Pingback: July’s Resolution Update | A Slice of Mudpie

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