Easy Budgeting 101 for others on Aish
Thank you to shoutout for this awesome platform to start off.
I’m sorry if this is a long post but I wanted to talk about budgeting for a second here, especially since the holidays are on the way. So I wrote up a budget with what I make from aish, child tax and what I make working part time. Its not as scary and technical as it sounds, and if this simpleton can budget then a monkey can haha.
-Aish: 1588/month(100 for my one child): 1588
-Child tax: 450/month: 2038
-Work: 500(12.40/hr, 5hrs a day, twice a week): 2538.
-Rent: 800: 2538-800= 1738
-Daycare fees: 200: 1738-200=1538
-Cell bill: 38: 1538-38= 1500
-Debt payment: 308: 1500-308= 1192
-Power: 40: 1192-40= 1152
-Internet: 70: 1152-70= 1082
-Food: 200: 1082-200=882
-Credit card: 200 : 882-200=682
-Bank fees: 11: 682-11= 671
Eating out: 50: 671-50= 621
Childs clothes: 50: 621-50= 571
Childs lunches: 100: 571-100=471
Childs swimming lessons: 50; 471-50=421
Donations: 10: 421-10=411
Into savings: 20: 411-20=391
Bus pass: 35: 391-35= 356
This is a rough draft of what my budget looks like. Its easier than it sounds to follow and don’t let the numbers scare you. :). But you need to plan ahead and know where your money is going before you spend it.
When you go shopping bring a calculator and don’t forget to add in deposits and tax. When its time to buy gifts for someone, set a limit (my rule is: 20 for a friend, a nice $5 card for an acquaintance, and 40 for a family member), its not being cheap, its buying within your budget. If you want to buy something for them that costs more, then you will need to put that money aside every few weeks, then add to the money, ask your bank for help, they can freeze an account and make it deposits only.
Due to budgeting, I took my little one to Vancouver for a few days, paid around 600 for a good flight and stayed via airbnb for 164, ate food from the grocery store instead of restaurants etc. and spent 60 on transportation for the entire time we were there, as well as sight seeing, cat cafes, shopping, starbucks etc.
YOU CAN DO IT!!!. I BELIEVE IN YOU!!!. :).