Balancing Money Goals

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One of the key areas I would like to focus on in this blog is balancing my checkbook, i.e personal finance goals. Over the past year I have been following a few blogs about frugal living, minimalism and living simply. I’ll be honest, I haven’t totally applied these techniques to my life.

As a matter of fact, financial balance has pretty much eluded me over the past year. Life has just gotten in the way and my bank account has paid the price for my inattentiveness.

Since my job here is to record my pursue of balance, I figure I should address the elephant in my wallet.  First, I totally overspent on vacation with no real thought of the consequences. I was in total denial…until I got home. I now realize if I stay on my current path there is no way I can achieve my financial goals. So I’m going to outline those goals here.

1) Luckily, through past frugality, I was able to forgo a car payment. But the time is fast approaching where I must purchase another vehicle and do not want to saddle myself with a payment. In order to achieve this I must save aggressively in the next year ans a half.

2) I need to consistently do a budget. This is where the “life gets in the way” thing has really affected me. I just haven’t made time for it.

3) And the last major goal…food! I need to cut down on my food expenses. This means limiting my eating out and the small shopping trips I go in during my lunch break.

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In the coming weeks, I will start to map out a strategy to work towards achieving these goals. In the end balance is needed in this area of life just like any others and I need to set the scales right financially. It’s great to have fun and enjoy things…until the bill comes in.

Please help me by leaving some comments and suggestions that work for you in cutting down your food bill, or saving for a long term goal. Would love to know your attack plan for staying on budget. Are there any special apps or programs you use? As always thanks for jumping in.

Simple living blogs I have been following:

www.becomingminimalist.com

www.theartofsimple.net

www.frugaling.org

6 thoughts on “Balancing Money Goals

  1. One technique that we use is by making left overs from the night before lunch for the day. Even if you have to spend a few more dollars on dinner to have enough left overs for lunch the next day it is still more affordable than buying all of those things needed to make lunch or going out to lunch. And best of all, it tastes a whole lot better.

    1. Its sticking with the plan that gets me. I’m hoping by recording it on I blog it will help me stay more consistent with tracking my finances. Thanks for the encouragement.

  2. I’ve always struggled with financial stuff too until I finally found a system that works for me and my husband. A bit hard to explain but bear with me: I used to work for a credit union where I held my main accounts. Unfortunately, we moved out of state and had to open a primary bank account elsewhere, but we still have the credit union accounts. At the credit union, I am fortunate that we have a free checking account and can have multiple savings accounts. What I have done is opened multiple savings accounts for different uses, for instance, we were saving up for a house, so I had a house savings account, then I have a vacation savings account, then I created a baby savings account for when the time comes. Everytime we get paid, I write a check and mail it to the credit union and then transfer the money into each of these accounts based on what we had discussed and our priorities. I have found this helps us because then when we went on vacation, we used the money set aside for vacation and didn’t touch any of our other funds set aside for other stuff. Hope this helps!

Your thoughts???