I have $4

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Oh the joys of bills, weddings, life…
After paying off my bills last Friday then treating myself to a nice visit to the salon to dye my hair (which THOUGHT I budgeted in) I ended with $-40. How the heck did that happen?!?! So I had to take $25 from my savings, and $20 from my wedding account just to get out of the negatives before the bank noticed and took the money out. I am now down to $10 in each the wedding and my savings account.

You may be wondering why I have so little money anyway…
I have a lot of bills. A LOT. I get paid bi-weekly and this is only about $580. Crappy for being at the place 2 1/2 years. ANYWHO…Take out the car payment, car insurance, cell phone, monthly donation to ASPCA, student loan, gasoline..that leaves very little to put anywhere. My fiance recently bought a book called “The Cheapest Family in America”. After he finished, I began reading it. It enlightened me to actually make a workable budget. Unfortunately my bill schedule was a little wacky so it won’t be until next week that I can truly start the budget the way it needs to be. I want to move out of Mom and Dad’s ASAP and my spending habits now won’t get me there. So for those that are budget illiterate like me, here’s how I’m doing in.

Imagine you get paid $580 every two weeks (using me as example) Cell phone is due at beginning of month ($80), car payment ($190) insurance ($120) Student loan ($20) due in middle of month, and a transfer to savings ($20) is at the end of the month. Instead of putting an entire paycheck to your bills, split your bills by paycheck. At the end of the month, put $40 aside for cell phone so that by the next paycheck when bill is due, you only need to take $40 from that paycheck. During that first paycheck of the month, split the bills due in the middle of the month by putting aside $100 for car payment, $60 for insurance, $10 for student loan…etc. By the next paycheck  you just need to pay off the rest of the amount due. Even though you are spend the same amount in the end, you end up saving. Think that one paycheck is dedicated to bills. The next paycheck you have all this money and no bills so you treat yourself to numerous things. Next paycheck dedicated to bills, so on and so forth. By using the budgeting plan I mentioned, you will have a few hundred dollars a paycheck to be spent on you. I suggest putting a big load into savings, a smaller load towards a special account (in my case, the wedding account) a small amount (say $75 IN CASH) to last 2 weeks for fun (dinners, movies…)
By only using cash for fun, it forces you to spend only that amount. Once that money ends, so does your spending for fun for two weeks. This forces you to not remove money in savings or any other account.

Hope I didn’t confuse anyone. I know this was long. But since you must be a budget bride like me, I truly hope this helped you out. Just add your fiance’s paycheck (esp if you live together) add your own bills (rent, etc) and in the long run you will have an amazing budget that is easy to manage!

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