Budgeting

It doesn’t matter which money guru you listen to: Moneygirl, the Baby Boomer and financial advisor Paul Clitheroe, a Mormon Brother or my own brother, they all say the same thing – BUDGET.

My dear bro planned a budget to get me debt-free back in June last year. It worked well enough to get me debt-free, reach the end of each pay cycle without scrounging under car seats for coins and head overseas with savings. However it was probably more good luck than good management that got me through! I stuck to the bigger principles like paying off debt first and putting money into savings, I just wasn’t very good with fine print like only spending $150 per month on going out.

There is still plenty of waste in my spending and if I am being honest with myself about what I want for the future, I need to be more disciplined. So, at the beginning of February I sat down and worked out the following monthly budget:

Income:
Base salary: $2100
Minimum commission after tax: $800

Must Have Expenses:
Rent: $400
Mobile: $49
Food: $200
Travel – public transport/taxis: $107
General going out – coffee/dinner/pub: $250
Toiletries/make up/girly stuff: $40
Banking fee: $3
Beauty – hair/beautician: $100

Medical Expenses:
Physio: $50
Doctor’s visits/vitamins/medications: $150
Health insurance: $69

Wants Expenses:
Internet: $29
Clothes: $0
Other entertainment – apps/music: $0
Books: $30
Sponsorship/charity: $48

Total income: $2900
Total budget: $1475
Possible savings: $1425

What I hadn’t budgeted for was romance…

Mid-way through February my world changed in the best possible way when I started seeing M* and all my planning went out the window! My bank statement currently reads like a restaurant/bar guide to Sydney (or the shopping list of an alcoholic, depending on which entries you’re referring to) because we have enjoyed dinners out and drinks in as we get to know each other better. And, because she totally deserves to be spoilt, there are the occasional references to florists and maybe a hotel in Melbourne for a weekend getaway in the next few weeks…

The result of all this romantically-fuelled unbudgeted spending is that I got to the day before pay day (yesterday) with 20c in my bank account!

The challenge I have therefore set myself for this month is to still spoil M but explore what Sydney has to offer the romantic on a budget!

Any suggestions?

*In the interests of protecting the beautiful, I will refer to the amazingly talented, creative, intelligent and sexy woman I am dating by her initial.