Yesterday I paid my last two bills for 2023. Then I looked at a summary of my income/outgo for the year. My yearly goal is a 50/50 balance between saving and spending. This year I was pleased to see I saved slightly more than I spent. Happy me.
Wishing all a New Year of Peace and Prosperity.
Penny Pincher
Remember Christmas Clubs? They were started by banks, credit unions, savings and loans to encourage saving for holiday spending. Save all year, cash out in December.
For the history of Christmas Clubs, go here:
https://en.wikipedia.org/wiki/Christmas_club
A Christmas Club account makes more sense than credit card debt for holiday spending.
In my own budget I have a category labeled "Treats" to which I add a fixed amount every month to cover my online purchases (what I call "silly spending"). I always know how much is in my treat account, and spend accordingly.
Be an elf to yourself. Set up your own Christmas Club account in your budget. Your holidays will be merrier without a credit card debt hangover.
Cheers!
Penny Pincher
It's been a season of adjustments:
-- My tv cable box died the end of October and hasn't been replaced. Do I miss cable? Nope. I've learned to use my laptop for what I want - with no subscriptions. I wasn't using cable that much recently - mostly the Weather Channel, and movies when there was something worth watching instead of endless reruns of Harry Potter. I've discovered the free resources available on the internet for weather and movies. My two tv sets are currently in mothballs. Happy me.
-- A few weeks ago I made changes to my diet in order to lose weight. It's worked beautifully. Basically I cut out one meal a day and the frills... no more junk food, no more one a day chocolate chunk cookies. I've lost weight, cut down my shopping list, and I feel great. Happy me.
The holidays are upon us... as always, I'm grateful - above all - for good health.
The blessings of the season to you and yours.
Penny Pincher
I read a recent article online, written by a "financial planner" who advocates a pay yourself first approach to budgeting, and let the rest fall where it may. In other words, put money first into savings and then let the rest take care of itself. If you overspend, dip into savings to save the day.
I call that feckless.
I am all for "pay yourself first" -- which is exactly how I handle my monthly income. Savings come off the top. A transfer into my separate savings acct first, then a lesser amount into the "cookie jar" savings sub-category of my regular checking. The rest is allocated into various sub-categories, and lastly an amount for a cash ATM withdrawal to cover monthly groceries, gas, laundry, flea marketing, haircuts etc. If the cash is spent before the end of the month, there is NO dipping into savings. I stay home and eat soup for dinner.
I know where my money goes, to the penny. It's all right there in Quicken and my back-up spreadsheet.
That's what "I" call budgeting.
Penny Pincher
Secret to happiness?
People in Finland say it’s knowing when you have enough.
It was in November, 2021 that I originally posted under the title "What Is - Is." whining about inflation as I was getting my budget together for 2022.
And here we are again. Same "stuff" - different day.
This time around I've vowed to stop bitching about prices. They are what they are. Up, down, sideways. My fussing isn't going to change anything. I make a list before I shop, I stick to it as I go around the store, I compare prices, look at the specials (what a joke!), shake my head and move along.
It helps that I'm not a foodie or a wine drinker. It helps that I pretty much eat the same thing every day. What is - is. I live with it.
Penny Pincher
