Tuesday, February 01, 2011

January 2011 Recap...

Bare with me guys and gals. This is my first attempt at zero budgeting and I am sure I got a lot of it wrong. This is also my first time using this budget worksheet that I found online. I tweaked it a bit and it's kind of cool. If you see italics, these are the categories I have deemed "ACCRUAL" meaning that I save the money in separate ING Accounts whether I spend the money this month or not. This was suggested by Dave Ramsey for expenses that are irregular in nature but can blow your budget wide open.

A lot of money flowed through my accounts this month. I added a comment column to the right to add some additional explanation. Please let me know if you have trouble viewing the image of the spreadsheet. It's rather large and I may need to figure out another way. I am open to suggestions so just inbox me or comment. Thanks a lot.

I guess the important things to note is that I stayed within budget for the month and I paid off my Capital One Personal Credit Card. When you only get paid once a month, it is hard to budget variable expenses throughout the month so I came up with a $200/week challenge. I ration to myself every Friday, $200 to budget through the weekend and the following week. The challenge gives me something to look forward to because I really get excited when Friday comes around again. The challenge also gives me something to focus on to see if I am making any measurable progress towards spending within my means. I did pretty good with the challenge in January.

* I added in my Capital One Business Card to my credit card balance.


Broke by Choice said...

You are well on your way to financial peace !!

DreamChaser57 said...

Incredibly detailed analysis. I was able to see the spreadsheet just fine. I hit "View" on the menu and just blew it up. The menu can be accessed by pressing "Alt"

Keep up the great work.

Chitown said...

Thanks a lot! =)