Monday, August 24, 2015

SAVING MONEY ..... Part 1 ...... MAPPING YOUR SPENDING TABLE



Everyone that knows me knows that I am a frugal girl.... and have written many  many posts about saving money.   As I have gotten older my needs and bills look different than they did 32 years ago when I began my journey to learn to pay my bills on time, have a FUN life and spend money on things that I WANT TO more than what I have to.  


REMEMBER The bottom line is not the money I SAVE but the amount of money you SPEND!!!   If you are spending more money than is in your budget to SAVE money ...you are accomplishing nothing.




I have had some major life changes in the past 5 years that have put money on credit cards that I did not have to spend.  I have had several unexpected challenges and bills and costs that have caused my "money saving plans" of the past change and change so rapidly that I had no control of what happened to my bank account..... and credit cards.   

The beginning of it was my father and his mother were in ICU at the same time and I was "that person" that is responsible to "take care of things" you just DO IT and the costs come then and then later and they keep coming...  in addition to that... other things changed and cost me (won't bore you with the details , we all have things "happen" beyond our control)  the purpose of this is to share with you the 'WAY OUT'  the revamping that I am doing and how I am doing that will hopefully help you to do the same... 

I have had to revamp....
The first steps (or RE-STEPS) for revamping my  money and how I spend it were simple...  right down a list of the things I MUST pay .... I  know those monthly, quarterly, yearly bills that you have to pay to sustain my lifestyle.    




My bills for living include but are not limited to:

  • Cable  (TV,  home phone, Internet)
  • Cell phone
  • Groceries
  • House:   upkeep, repairs, yard
  • Electricity
  • Gas
  • Water / Septic
  • Credit Card Bills
  • Dr. & Health (prescriptions)
  • Taxes:   real estate , personal property
  • Car expenses:  Gasoline, Oil Changes, repairs
  • Incidentals :  H&B items , Toiletries etc,  Postage, Gifts,      household replacement items
  • Entertainment
  • Clothing & Accessories
  • Investments /  retirement
  • Insurance:   Car,  House , Life
  • Unexpected expenses




Where does your $$ go?.....  What does your spending style look like?  

I have taken the list above and broken them down into categories or time frames that they need to be paid:   This list is longer than the first list as I have expanded into a bit more detail...

Weekly
  • Groceries
Monthly
  • Cable  (TV,  home phone, Internet)
  • Electricity
  • Water / Septic
  • Credit Card Bills
  • Gas
Quarterly
  • Cell phone
Bi-Annually
  • Insurance:   Car,  House , Life
  • Dental
Yearly
  • Taxes:   real estate , personal property, car tags
  • Vision  (yearly to bi-yearly)
  • Investments / retirement
Bi-Annual: 
  • Household: Septic Cleaning
  • Household: Driveway Sealing

Randomly
  • House:   upkeep, repairs, yard, cleaning supplies
  • Entertainment:  restaurants, movies, vacations etc
  • Clothing & Accessories
  • Health (prescriptions, sick visits etc)
  • Incidentals :  H&B items , Toiletries etc,  Postage, Gifts,      household replacement items
  • Car expenses:  Gasoline, Oil Changes, repairs
  • Unexpected expenses:  hardships, family expansions, deaths, illnesses etc
  • office supplies

That (above) is my breakdown table of what I spend , when I spend and how I spend it.... your "table" may look totally different than mine but the way to "tackle" it is the same ..... one thing at a time.

In my younger years my bills and the ratio of the amount of money I pay to the household income looked much differently than they do today.   From time to time you must look at your bills and REVAMP your spending to fit your lifestyle.

My view of "things" or items  is that they should "last" and my "expectation" is that things should last longer than they do .  The old adage "they don't make things like they used to"  rings truer and truer to me as I get older.  Somethings that used to "last forever" and have changed how I spend money and needed to be REVAMPED immediately were....
  • Telephones and telephone costs
  • food and entertainment and gifts : cost is changed in ration to your family size
  • Appliances and replacement / repairs : no longer do these items last 20+ years :( 
  • Television and the skyrocketing costs of having available..... used to be FREE and as technology has changed can cost as much as $200 a month depending on your family
  • gasoline  (volatile pricing that drops and raises with the political environment)
  • Grandchildren!  You can never plan for the arrival or the expansion of your family!  
  • Postage :  used to be a much higher cost for my family than it is today
  • INSURANCE:   as your lifestyles change so do your insurance needs.... 


OK soooo get out your pencil and paper  /  and  map out your Spending Table.... note that I have not added $$ prices to anything yet..... that will start to happen with step 2.  I don't like to be overwhelmed by any "changes" that I make and I have found that trying to swallow the entire enchilada at once makes things more overwhelming than taking bite size chunks and digesting them and revamping them over and over again. 

GOOD LUCK And stay tuned for my other steps in revamping your spending / saving abilities!




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