Spending Money Budget Update – May 2007

Last month, I put an end to wildly spending my monthly allotment of "spending money".  At the start of the month, I wrote about how I was going to go about this HERE.

Well, here I am to give an update on how I did with my first month of "spending my spending money BEFORE the money before I actually had it in hand".

As you can see, I did very well this month!!!  Here it is, the end of the month has passed and look who hung around to welcome in the month of June – good ole Andrew Jackson!

I will tell you this – I was reminded again of some keys to budgeting.  Here are some keys that might help you.

  • It is OK to "substitute"  Ultimately, it does not matter how the dollars are spent – as long as you don't exceed the overall budget!  For example, the top thing on my list was to purchase a $30 pair of jeans.  I did not do this.  I decided to "sub" a round of golf instead!  Is that OK?  ABSOLUTELY – even though the round of golf cannot be worn, it was fun!
  • Cash Rules!  There is absolutely NO WAY I could overspend the budget because when the cash is gone – I can't spend anymore!
  • Cash forces you to find a better deal  I found a Grill Cleaning Brush for $0.97 at Wal-Mart!  That allowed me to purchase MORE plants!
  • Spending your money BEFORE you receive it ROCKS!  You have all options still available to you when you plan your spending before you actually receive the money.

One Response to “Spending Money Budget Update – May 2007”

  1. Jon Smock June 1, 2007 at 7:03 am #

    If only you could be 20% under-budget every month! :-P …and good decision on the round of golf over the jeans (is it still ok after college to not buy jeans until I can’t physically wear the ones I got anymore?).

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