I finally sat down and looked at my income vs bills and expenses. I've been free-wheeling for far too long and having to dip into my now dwindling savings every single month. Last month, I spent $1100 more than what I brought in. Considering my base salary is around 90k, That's ridiculous. No more. I've worked up a budget based on my bills over the next three paychecks and I'm going to be using the envelope system to help me get a better handle on staying in a budget. My bills are pretty high, around 3k per month. But if I stick to my budget, I should be able to save around 5 to $600 per month. My plan is to get my savings to the "3 month emergency fund" level, and then start paying off credit cards. Also, in march, I should be receiving a bonus that will be probably be around 9k after taxes. Previously, I've socked that away in savings to chip away at through the year as I overshoot my monthly take home. This time, goodbye credit card debt, because my cashflow will be net positive each month if I stick to my budget. Anyway, it's really empowering to sit down and figure all this out and know that with a little planning and a little discipline, I can take control of my finances. Thanks to this sub for the inspiration and the tips. I just needed to tell someone. Thanks for reading.
Submitted August 24, 2017 at 11:09AM by Midgetforsale http://ift.tt/2wBMJX7
