Creating a Budget Plan

So, I’ve had a slight set back. Yesterday, started off well. I had mentioned a post or two ago that I had put $200 towards my one credit card. Well, yesterday morning on my way to work, I had an extra $100 cash on top of that that I put into my bank account, and then transferred over to that same credit card. So, $300 total. It felt so good. I had ideas rolling through my head all morning on creating a budget plan for myself, looking up budgeting apps on the internet, etc, etc, etc. What a way to start the day! Then I got some bad news later that afternoon…

I had to take my vehicle in to the mechanic. It was making a funny noise. Long story short, I had to get my brakes and drive shaft fixed, so those two things alone were $581. Ugh. Then I found out, after they had already fixed those things, that there was something else. Something in my engine. Yep, expensive as heck. So, basically, I will now be vehicle shopping. It’s not worth it to pay the insane amount of money to fix this problem. My vehicle is no spring chicken (a.k.a. almost 9 years old). So, my earlier in the day thoughts on creating a budget plan are even more crucial now.

So, my next step. Creating a budget plan for myself. Here are three things I’m going to start focusing on to start with:

• Give myself a cash allowance each payday…and stick to it!
• Build up an “emergency fund” of $2000 (you know, for any of those unexpected things life throws at us)
• Track my expenses (account for every single cent I spend – this will allow me to see exactly where my money is going and to see where I can cut back)

So, that’s where I’m at right now. One step forward, two steps back as they say. But hey, that’s life. It can throw curve balls at you, hence the “emergency fund” saving. That money wouldn’t have bought me a new vehicle, or at least not a very good one, but it would’ve at least paid for the mechanic bill.

Creating a budget plan can be as easy as starting on small ideas such as these and incorporating them into your life on a daily basis. I would love to hear your ideas, so please feel free to throw them out there!