One thing that is super helpful about having a blog is having a bunch of different people’s input on a subject (provided that you want it. But I’m asking for it in this case).
I want you all – all of my readers who have an knack for the financials – to look at my budget, which I’ve laid out below, and let me know how much you think that I can save by January 1, 2012.
Below I’ve included my budget. It is what I believe to be realistic. As you can see, I’ve budget for gifts for Christmas. The “bank account balance” line is just a carry over from the “left over” lines at the bottom of each month.
I haven’t included any of my online earnings, and as you can see I’ve included savings that are automated – my vacation funds, ISA, and RRSP. Usually my car payment is $220, but I have an account for extra payments and an automated savings plan of $60/month extra. So that’s budgeted for as well.
My income on my budget is a VERY low ball estimate, and after taxes, pension, and many other expenses come off of it.
If I don’t cut back on anything at all in my budget, it looks as if I’ll be able to save $3,374.40. However, I want that number to be at least $4,000.
This is where you guys come in. I need to analyze my budget, see where to cut back, and make those cuts to make my savings $4,000. My internet earnings aren’t included as they will be going directly toward my insurance costs for January.
Now. If you were me, and you had my budget, what would you do to make my savings $4,000 by January 1st?