It’s been a long while since I participated in My Pretty Pennies‘ Weekly Money Checkup, but here goes:

1. The most I’ve spent this last week was on stuff for the new apartment, we just plopped down 500 at IKEA yesterday and 300 at Target. ::shudder::

2. Today I am thankful for savings, discounts, target card’s 5% cashback, rebates, and being a bargain hunter.

3. Money can’t buy happiness. One free thing I did last week that made me happy was laze around and read The Hunger Games and Catching Fire.  Cute stories, but very kiddie. Have you read them?

4. I will consider this week a success if I get my schoolwork done, pack up the apartment and am prepared to move before the truck arrives.

5. If I could afford one unnecessary luxury, I would hop on a plane to Aruba with my hubby and enjoy a two week babymoon.  I feel so stressed and pressured these days, I could use a nice long vacay on the beach.

Play along too!

1. The most I’ve spent this last week was on _____.
2. Today I am thankful ___________.
3. Money can’t buy happiness. One free thing I did last week that made me happy was_____________.
4. I will consider this week a success if I _____________.
5. If I could afford one unnecessary luxury, I would ___________.

NOTE: I am NOT a financial advisor, this is just info from personal experience, don’t try to sue me. Thanks!

I’m really surprised at how many emails I’m receiving with money questions after posting about operation penny pinch, and asking for financial advice!  I didn’t expect to be posting more on money, but it is an important part of all of our lives, and a big part of mine especially this year so I guess it makes sense to share what lil bit I know.  I’ll do it in parts.  Today’s will be about budgeting.

Budgeting Tips:

1. Make budgeting a priority – it’s really the best way to ensure you are spending less than you’re earning

2. Create an annual budget and then break it down monthly. – this works better than going month by month because you’ll include things like auto insurance and Xmas gifts that don’t come around each month and can save accordingly

3. Automate what you can – easy button.  pay those bills automatically, move money to your savings automatically.  If it’s easy/done for you, you’re more likely to do it.

4. Track everything – seriously, track EVERY penny, and check your accounts for accuracy online as well.

5. Don’t give up – in the beginning it can be annoying to go through and see where your money’s going and how you want to fix it, but it’s totally worth it once you see your debt getting smaller and your savings growing bigger!

How I Budget

I get paid on the 15th and 30th. of each month.  A certain % of each check gets pulled out pre-tax for my 401K to obtain the full $17k match from my employer.  The balance goes to my main bank (TD Bank, love them)

My take home income gets divvied up into these parts (in no order):

Bills:

• Rent
• Geico (car/rental insurance)
• Con Edison (gas/electric)
• Virgin Mobile (mobile phone)
• Food (groceries/eating out w/ John)
• Time Warner (internet)

Faux Bills:

• Down Payment Savings
• Emergency Savings (no longer contributing, fully funded, 8 months worth)
• Gifts (Xmas/Bday savings)
• RTH Account (FYI Those are Embry’s initials, that’s his saving fund)
• Personal Savings (toiletries and random house stuff gets paid from this acct)
• 529/IRA (I haven’t yet started Embry’s 529, and I haven’t put my 2011 IRA money to the account yet so it just sits in the bank until I stop being a lazy mofo)
• Travel Savings

Me:

• Fun Money!! (anything goes, guilt free spending, YAY!)

*Public transpo is paid for by my job, as is food during the weekdays, gas is paid for by John since I don’t drive the car, also we split the bills 50/50 except my phone I pay for and house phone he pays for.

So yeah, majority of my income goes to savings for different goals, but I treat them as if they’re bills.  Some gets automatically transferred on pay days from my main bank to my online bank account where I earn better interest, and some I physically move (online) from my bank to online bank to “trick” myself into feeling like I just paid a bill.  For ME, that’s the only way to ensure the money will go where it needs to…. instead of to Target or Amazon lol.

Where to budget:

I keep my budget on a spreadsheet, I used to use excel, but now use google docs so I can access my budget anywhere.  I have sheets for each month, a net worth sheet, and a projected savings sheet to keep tabs on my down payment savings goal.

I used to use Mint, but had issues with it updating from my bank accounts in a timely manner….I check my accounts often.

However, I started out with good old pencil and paper, and maintained my budget this way for a long while.So please don’t feel like you need any gadgets, software, or anything to get started with a budget.

How you can start your budget:

• choose a time when you’re relaxed and have energy to spend on this
• get your old statements together along with bills and paper/pen (or excel or whatever)
• put down every single thing you spend money on throughout the year
• put down every single penny you earn throughout the year (hopefully it’s more than what you spend)
• break down your annual spending by month
• Plan to include savings and debt repayment in each month (per paycheck)
• put your budget somewhere you will see it and remember to follow it

Am I making sense? 

Resources for ya:

• YNAB – You Need A Budget – by Jesse Mecham
• The Budget Kit – by Judy Lawrence
• Winning w/ Money – The Budget Tool for People Who Hate Budgets  (That sounds promising!)

OK, I hope this was helpful, and if it was unclear, I’m sorry, and feel free to ask for clarification in comments or via okaydani @ gmail . com

Do you have a budget?  Do you stick to it?  How did you create yours?

Help me out girls.  What’s a good title for Operation: Get and save money in any (legal) way shape or form I can for a house, a baby coming soon and grad school tuition?

While you’re thinking about that, I’ll let you in on my plan so far in the tentatively named Operation: Get That Dough

1. saving $ from 9-5 job – OK this is the “duh” item on the list and will likely contribute most to the savings accounts.  I save $XXXX each paycheck to an account on everbank.com.  I’m going to beef this up by:

• looking for an online bank account with a higher interest rate to switch to
• look into upping the amount I put in (after consulting the budget to see if it’s even possible)

i have this pic on my vision board

2. couponing more aggressively – I am going to even start “liking” brands on FB and signing up for their “clubs” so I can get some coupons sent to me to help me with the food costs.  Oh, and I’m never shopping with John, I’ll go alone and have him pick me up because it’s easier to stick to my list that way without seeing “surprise!” hot dogs and pork rinds sliding down the conveyor belt.

3. Sell stuff – I’m going to try craigslist, half.com, and ebay for selling books and clothes and other things that I’d otherwise just give to goodwill.  Let’s see if anyone wants this stuff.  One man’s trash another man’s treasure, right? I used to sell textbooks on half.com all the time.  Hopefully it’s still as easy.

4. Switch Credit Cards – I actually already did this.  I got rid of my continental chase card and got a chase freedom card.  This gives me unlimited cash back versus miles, and has no annual fee (Saved $79/year) – PS: I gotta say, the customer service people for this card were stellar…never had such good service from a credit card company before.

5. Adios Gym – I did this one already too.  I said sayonara to NYSC,  I had the membership on hold since I couldn’t workout in my first trimester at all, but I just got rid of the membership all together.  I still have my Planet Fitness account which is $10 a month (which if I’m being honest with myself I should probably cancel too….), but that one will go bye bye after we move.  (Saved $75/month)  I am putting the “gym payment” into my savings account as if it’s a bill I’m still paying.

6. Cash Back – All of the money I get back each month from Mr. Rebates and Ebates goes straight into my savings.  Now that I use the site when I book/buy anything at work, I’m getting a lot more cash back! Yippee!  (If you haven’t yet signed up for one of those, I suggest you do so now, you’ll get cash back for shopping…if you’re going to shop online anyway, may as well get some $$ back each month for it!)

7. Continue cutting back – another duh item.  We’re cutting back even more and depending on how my future baby shower goes, we’ll be going used/thrift for the baby stuff (not the crib or car seat of course).  I did a pretty sizeable haul of maternity clothes for $250 (target clearance and old navy clearance) and am now on another shopping ban until May 1, 2012!

8. Save freelancing / coaching income – my final “duh” item.  I’m treating my side business income as an untouchable bonus.  A certain percentage of it goes to IRA and the rest goes to savings.

I’m dividing all the “extra” earned money in savings 3 ways.

• 50% to Down Payment fund
• 25% Baby fund
• 25% Tuition fund

Any other ideas for me? Know where any money trees are planted perhaps?  Know any rich benefactors?  

Also, I was asked in an email about what books I’d recommend to help get a hold of your finances.  Here are my suggestions:

• Total Money Makeover – by Dave Ramsey (this is like a bible for some folks)
• Women & Money - by Suze Orman – I LOVE LOVE LOVED THIS BOOK
• Your Money or Your Life – by Robin & Dominguez

And….I haven’t read these yet, but if you have amazon prime (which you can get free if you’re a mom or student fyi) you can read these books for FREE!!!

• How to make a budget
• 92 Easy ways to save money

 HAPPY SAVING!!

Doyou have any financial goals this year?  What are you doing to save or earn money this year?

Linking up w/ the Weekly Money Checkup by MyPrettyPennies today!

1. The most I’ve spent this last week was on Christmas gifts! I am really glad that I got started early this year.  I hope to be done shopping by first week of December.

2. Today I am thankful for Quaker instant oatmeal and a surprisingly stress free commute.

3. Money can’t buy happiness. One free thing I did last week that made me happy was read a story to John’s 4 year old niece.  She must’ve had the story read to her four trillion times but she loved hearing it anyway.  We played “I Spy” with the book after the story was over and it was great seeing how much she knew with her letters, numbers, colors, shapes etc.

4. I will consider this week a success if I make it out alive on Friday.  It’s going to be a crazy busy week at work and our quiet little office is going to be buzzing with loads of people and back to back meetings.  Not fun.  But Friday at 5pm will feel that much better.

5. I am looking forward to thanksgiving next week and having a half day that wednesday and no work till the following Monday Woohoo!!

–

Play along too!  Let us know:

1. The most I’ve spent this last week was on _____.
2. Today I am thankful ___________.
3. Money can’t buy happiness. One free thing I did last week that made me happy was_____________.
4. I will consider this week a success if I _____________.
5. I am looking forward to _____________.

I hope you had an excellent weekend, or at least a relaxing one.