Personally I used:
https://www.consumer.gov/content/make-budget-worksheet
After using the sheet I saw that there was a $225 deficit in my budget. That of course did not make me very happy but what I did was take an immediate inventory of where I could cut the fat. I also took a minute to brain storm ways to create additional income.
I have procrastinated on renewing my cell phone so that I would not have to be under contract anymore and free to do as I wish as a cellular consumer - however with my ex is still on my plan so I have not exactly figured out how to pull that trigger. In reality going to a prepaid service would save me well over $50 a month! I have not and WILL NOT put cable service in the home, and it is very rare that we go out to eat. In the event we do I found a restaurant where KIDS EAT FREE with the purchase of an adult entree <3 In Love <3
My utilities have been under moderate control by setting my thermostat at 63 degrees and stocking my living areas with throw blankets and slippers. On our beds I have flannel sheets and 2 blankets - this I found has kept up very cozy at night and during lazy weekends.
I NEVER pay full retail! and this has helped me with shopping for things like clothes and groceries. I am also very flexible with WHERE I shop. I am not above thrift stores or grocers like PriceRite or Aldi's. Goodwill has a 50% off a color tag each week and this is where I can really score with clothes for work, my daughter and home goods.
So you know I racked up some serious credit card debt in 2015 and I found a system that I really like to to pay them off. The image I have included is an example of the plan for 2016 - I have to say after I reviewed it I decided to pay off 1/2 the cards balances with a portion of my income tax and then proceed with what they call the "Snow Ball Method" the reason behind my decision to do that was driven by how long it was going to take me to pay off the higher balance card.
In 2016 I plan to rid myself of the credit card debt, ensuring I enter 2017 with a clean slate. I am preparing to budget for a plan to purchase a Washer/Dryer - Dishwasher/Disposal and Deep Freezer for the basement. I have also created the mentality to ensure I do not rack up unnecessary credit card debt! This past year was expensive but moving forward the cards will be used as a last resort and credit building basis ONLY.
As I continue to play with numbers I will keep you all in the loop and hopefully if you are finding yourself in the same boat I am, what you read will inspire some creativity.
I also have found a second job to fill my idle time. Yes because I am bored stiff with nothing to do. But I found a little serving gig that should be able to bring in an additional $250-300 monthly. This additional income will help relieve some of the deficit that I am currently facing in my budget and help keep my head ABOVE WATER. The greatest reason that I am choosing this particular venture is that it has the least amount of negative impact on time with my daughter. DOUBLE WIN.
Another way I am working on producing additional income is by selling things that I no longer want/need/have room for - these items are posted online and at local consignors.
The final method is using my creativity for PROFIT, more like starving artist at this point but I am SURE my time will come. I have set up an online boutique and as I build a collection will begin to sell my works on the boutiques site!
So here is the big IDEA:
1. Cut the fat
2. Shop Smart(er)
3. Pay it DOWN
4. Budget Wisely
5. Make a littler more
6. Get creative
7. Don't get discourage (ever!)
Repeat steps 1-7 as many times as necessary to achieve your financial DREAMS!
~day dreamer
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