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.

1 Comment

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

    If only you could be 20% under-budget every month! 😛 …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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