Budget Action Plan

Whew…it’s been a crazy busy summer! But with the kiddos heading back to school this week, I will be back in action here again. Speaking of action, my next step to shredding my debt has been to look at my bank account online and see exactly what I’ve been spending my moula on. It was eye-opening actually.

Seeing exactly what I’ve been spending my money on, I have come up with a budget action plan. This plan will involve cutting back on things I don’t need as well as starting to pay off some of my smallest debt, which will be one of my credit cards.

Before I delve into this budget action plan of mine, let me catch you up to speed on what I’ve been up to. This summer, I took my kids on a 14-hour road trip to visit my best friend and her family, as well as two camping trips. I know what you’re thinking…not so great for the budget. But (yes, there’s a but), closer to the beginning of this year, I had planned these trips with some income tax money I received and had already promised my daughters we would go. I have never broken a promise to them, and never intentionally will. This planning happened before I decided to tackle my debt. Now that my confession is out of the way, let’s continue…

Ok, so I mentioned that I took a glance at my bank account to really look at how I was (“was” being the operative word here) spending my money. I had been spending an average of over $300.00 per month on things I definitely did not need! Things such as dining out/fast food, clothing and the liquor mart (I used to enjoy a glass of wine here and there). I was also going to the grocery store for a couple things at a time here and there, and likely buying more than I should have each time. In order for my budget action plan to work, this all had to change.

Changes I will be making:

• Asking myself when I see something in a store that I really want, “Do I need this? I’ve already been implementing this change in my life, and 9 times out of 10, the answer has been “No”, and I’ve left the item behind. And some of these items have been on sale too! That can be hard to walk away from!
• I will be grocery shopping only once a week. No more little stops, however, if I absolutely need to because I forgot something, then I will only be picking that item up and nothing else.
• I have $200 that will be going on my credit card with the least amount owing.
• No more dining out.

Many changes don’t have to be huge. Start small and work your way up as you get going. Form your own budget action plan and get started on putting it into action. From these small changes I’ve started making, I already have extra money in my bank account. It’s a good feeling seeing that I can do it, and knowing that I’m on the right track! Until next time…