It’s Called Work for a Reason – A site update
July 31st, 2008
Work is something most of us say happens between the hours of 9 and 5 and although that’s when most of us make our money that’s not the only time work needs to be done. I’ve been somewhat absent on the blog recently because we moved into a new house and there was a small mountain of work that came with it. Effectively I ended up with two work periods, the one that occurred at the office and the one that occurred at home. Unfortunately when it comes to work it isn’t necessarily something that you enjoy but something that needs to be done.
This was the case for me and I’ve gotten into the habit of doing the work at hand rather than what distracts me, I go to the office to work and I get paid to do this. Granted I’m not paid nearly as much as I would like to receive I am still paid to do my job. Larry Winget’s book It’s called work for a reason really pointed it out for me. If you’re doing something and getting paid for it you should do the job and not a dozen other things that you shouldn’t be doing. Unfortunately when work around the house comes into play I’m not paid but the work still needs to be done (painting ceilings I have learnt is a task I particularly dislike).
The nice thing is that I am almost done the main thrust of the house work. Only the baby room needs to be painted before the little ones arrival and the basement needs some fixing. Overall I’m hoping that I can get back into a routine of posting shortly. I’ve enjoyed having the extra house work to do but the novelty behind it is now starting to wear on me. I’ve set aside more pleasurable activities such as this site to get the work done and it’s time to bring some of them back into my life.
There are times when work takes priority but you shouldn’t forget the other parts of our lives. Workaholics end up doing nothing but working and I believe that is a unfulfilling way to live (at least for me). Having my interests and hobbies (such as this site) really enhances my life and I miss them when they are gone. But work is work and sometimes it just needs to be done.
Here are a couple things to look out for next week: a final assessment of my contest series and my thoughts on weekly budgeting and how its really helped me put perspective to my finances (as well as the usual weekly budget posts). Thanks to all my regular readers for sticking around and for participating in the contest I ran in June.
Posted in News/Misc | 1 Comment
Week 9 Budget Assessment
July 31st, 2008
This past week I ended up spending a lot more in what I consider more of the discretionary categories and less in the essential ones. Even before I get to the weekly numbers I spent a lot more on alcohol than I did on food. Now before anyone thinks I have my priorities off kilter there is some method behind the madness. Here are my actual numbers from last week and I’ll explain why they are the way they are:
| Weekly Budget July 21-27 |
||
| Budget | Actual | |
| Alcohol | $20.00 | $87.10 |
| Food-Lunch | $15.00 | $13.60 |
| Food | $80.00 | $20.63 |
| Gas | $65.00 | $70.02 |
| Entertainment | $0.00 | $0.00 |
| Smokes | $30.00 | $27.13 |
| Misc | $50.00 | $76.40 |
| Transportation | $$25.00 | $0.00 |
| Total | $285.00 | $269.58 |
As I mentioned above the alcohol spending is really high in comparison to the budgeted amount and a category such as food and the reasoning here is simple my wife and I entertained some friends on the weekend. I hadn’t budgeted for it and got some extra wine and some beer. I ended up paying for this and my wife ended up paying for the food which is why my grocery bill is so much lower than it should be. I also spent a lot more on the house this week which explains why the Misc category is higher than I was expecting.
Overall this past week was an amazing success; I managed to exceed my budget even though a couple categories were out of whack. I think I’m really starting to get a solid grip on controlling my day to day spending. The week we’re in right now is my conscious effort to try reducing some of the numbers and see if I can’t get my weekly spending down to about $200, which I think is entirely possible.
I have become incredibly conscious of my spending as a result of posting up these weekly budgets which is why I have been writing and posting them even though I’m not posting much else. The past month or so has been incredibly busy and I think there might be a bit of a lull coming up. Seeing how I spend my money gives me no excuse for not being responsible about my overall finances.
Posted in Budgeting and Planning | No Comments
Weekly Budget – Week 10 (July 28-Aug 3)
July 29th, 2008
Over the past couple weeks I’ve actually managed to stay very close or under my overall budgetary goals, even if I might have missed the individual sections. Last week was no different and I expect that this week won’t be much different either. There is a certain fluidity to this whole planning process but as long as the total weekly amount is met then the budget has been successful. Here are my budget numbers for the upcoming week:
| Weekly Budget July 28-Aug 3 |
||
| Budget | Actual | |
| Alcohol | $20.00 | |
| Food-Lunch | $0.00 | |
| Food | $80.00 | |
| Gas | $40.00 | |
| Entertainment | $0.00 | |
| Smokes | $30.00 | |
| Misc | $50.00 | |
| Transportation | $25.00 | |
| Total | $245.00 | |
The primary difference in this week’s budget is the fact that I’ve cut out monies for eating lunch out. I’ve always known that I spend way too much money on this (as I do on the smoking) and I’m going to make a serious effort to not eat out at all this week. Other than that the remainder of the numbers are pretty similar. I was planning on cutting the alcohol budget as well since we had guests this weekend and I purchased a bunch of extra wine that never got drank. But I’m going to simply use this amount as a buffer for just in case.
There is one rather large unknown when it comes to this budget, this upcoming weekend is a long weekend for us and there is a possibility we might go away to our friend’s cottage. Unfortunately we don’t know if this will in fact happen. This would have an impact to the weekly budget but for the time being I’m going to go with the assumption that it won’t be happening since the numbers are known this way.
Posted in Budgeting and Planning | No Comments
Week 8 Budget Assessment
July 25th, 2008
I know this assessment is a bit late but last week’s budget was pretty tight in that I was hoping to stay within a $250 budget and unfortunately I missed it. But the good thing is I only missed it by a whole $8.42 which isn’t all that bad. Here’s the breakdown for the week:
| Weekly Budget July 14-20 |
||
| Budget | Actual | |
| Alcohol | $25.00 | $27.65 |
| Food-Lunch | $20.00 | $30.64 |
| Food | $80.00 | $98.53 |
| Gas | $20.00 | $30.01 |
| Entertainment | $0.00 | $0.00 |
| Smokes | $30.00 | $28.63 |
| Misc | $50.00 | $42.96 |
| Transportation | $$25.00 | $15.00 |
| Total | $250.00 | $258.42 |
I went over in a few categories but nothing drastic which is a great sign. This is two weeks in a row that I have managed to stay essentially on budget. I spent a bit more than expected on food and gas and I am still struggling with the lunch demon though. I think that if I can tackle the eating out for lunch demon I can reduce my weekly budget by about $20-30.
The next item that I will want to tackle is the smoking which would also be a reduction of about $30 per week. Between those two items if I managed to cut them down I could possibly bring my weekly spending to around $200 per week which would be amazing. Quitting smoking is something I am hoping to tackle in August but it’s definitely on my list. I think this is positive momentum in the right direction.
Posted in Budgeting and Planning | 3 Comments
Weekly Budget – Week 9 (July 21-27)
July 24th, 2008
This week is actually going to be very similar to last week when it comes to the spending. I think I’ve managed to find myself a bit of a groove when it comes to the spending. I believe that I still need to refine the numbers a bit. I now have a good understanding of how I spend my money and where its going from week to week. Here are this week’s budget numbers:
| Weekly Budget July 21-27 |
||
| Budget | Actual | |
| Alcohol | $20.00 | |
| Food-Lunch | $15.00 | |
| Food | $80.00 | |
| Gas | $65.00 | |
| Entertainment | $0.00 | |
| Smokes | $30.00 | |
| Misc | $50.00 | |
| Transportation | $25.00 | |
| Total | $285.00 | |
For example a few changes this week include lowering the eating out budget since I know I’ll be bringing my lunch or eating at home. I do plan on having lunch out once or twice just to break the monotony which is why the amount is at $15. I’ve also been making a more concerted effort to reduce my drinking even further and the $20 will more than cover me this week (though we do have guests coming on the weekend).
The only real change for this week is that I’m expecting to fill the car up with gas – this is mostly because gas is a bit cheaper and I’m expecting a bit of driving this week and a bit next week. This amount will also ensure that I don’t need to fill up next week.
Posted in Budgeting and Planning | No Comments
Week 7 Budget Assessment
July 15th, 2008
This is the first week that I’ve managed to stay under budget for the week. I’m very happy about this even though I might not have hit my targets in each category. I know that when it comes to the weekly budgets there will be some give and take in each category but as long as my overall budget is met for the week than I’ve been successful. Below are my budget numbers for the past week:
| Weekly Budget July 7-13 |
||
| Budget | Actual | |
| Alcohol | $25.00 | $32.50 |
| Food-Lunch | $25.00 | $39.68 |
| Food | $100.00 | $35.72 |
| Gas | $80.00 | $127.63 |
| Entertainment | $0.00 | $0.00 |
| Smokes | $30.00 | $33.69 |
| Misc | $50.00 | $56.00 |
| Transportation | $25.00 | $0.00 |
| Total | $335.00 | $325.22 |
I managed to spend considerably less in the food category which is really what brought be under budget. My better half took care of a significant portion of the food this past week but I think this will start to go back to normal where I spend more than I have been. I ended up spending a fair bit more when it comes to gas but thankfully I’ll be getting some reimbursement money for this.
I’ve gotten comments in the past about spending a lot on smokes, unfortunately they’re very expensive where I live and I’m still trying to find the right amount to budget for them. I’m also starting to think about setting a quit date towards the end of the summer. I did want to bring the alcohol spending down first which I’m fairly happy with since I’m spending considerably less than I was in the past. Once I’m happy that this is completely under control the next vice to tackle will be the smoking. If I can virtually eliminate these two line items I’ll really bring my budget into line and I might start making some headway with my overall finances. I’m looking forward to this. I have also made some movements to bringing in more money, hopefully everything goes according to plan and I’ll be where I need to be.
Posted in Budgeting and Planning | 2 Comments
Weekly Budget – Week 8 (July 14-20)
July 14th, 2008
This week’s budget is going to be a bit tighter than the previous few mostly because I’m out of money and I have to be really right with my money. Hopefully an expense cheque comes in this week and I’ll be able to balance things out a bit more. Regardless I need to start tightening my belt financially until more money starts to pour in. I’ve been getting better at this budgeting thing and I think that I’ll be able to manage things better going forward. The past few weeks have been a bit of a bouncy ride but last week was the first time I was under budget overall which is great.
I’ve lowered a few line items from last week to this week and hopefully I’ll be able to keep myself in check. Here are this week’s budget numbers:
| Weekly Budget July 14-20 |
||
| Budget | Actual | |
| Alcohol | $25.00 | |
| Food-Lunch | $20.00 | |
| Food | $80.00 | |
| Gas | $20.00 | |
| Entertainment | $0.00 | |
| Smokes | $30.00 | |
| Misc | $50.00 | |
| Transportation | $25.00 | |
| Total | $250.00 | |
The biggest drops from last week to this week are food and primarily gas. I don’t have a lot of traveling around to do so I’m not planning on putting much gas into the car. I’ve noticed that I’ve been spending less money on food so it makes sense to drop this back to previous numbers. Hopefully everything will work out nicely and I’ll be able to stay within the $250 that I’m budgeting for this week. Wish me luck!
Note: Last weeks budget assessment will be posted early tomorrow morning.
Posted in Budgeting and Planning | No Comments
Do you complain about your problems?
July 8th, 2008
The funny thing is that the real answer to that question is yes, we all complain about our problems at one point or another. That doesn’t make us bad people nor does it mean we aren’t good in some way. The real key is what we do after we realize that the problem exists. Do you complain about it or do you do something about it?
Complaining doesn’t get you anything and it doesn’t even help you feel any better. I have noticed lately that I have been complaining a lot more about my monetary situation. The truth is it sucks. I have tried to tighten my belt but it has only worked so far the reality is that I don’t make enough money to cover my bills let alone my all of my expenses. I would have been able to float along in this situation for a few more months before it started having a very negative impact on my life.
Yes I complained about it, I am human, but complaining doesn’t help me at all. I have started controlling my spending more than I ever have which makes for a good starting point but it won’t be enough. Now it’s time to change the scenario before any damage is done. I have started looking for other work which will pay me more. This won’t be a complete fix for my financial situation but it will prevent me from slowly slipping any further.
Some of you might ask: why did it ever get to this point? The truth of the matter is I like the job I’m at unfortunately the financial setup which made sense at the time no longer does and I spent some time trying to delude myself that it did. The problem has been identified and will now be fixed (hopefully without too much pain). When I started this blog I was making $75,000 per year and right now I’m blow half of that so a different job will have an impact.
I have also been looking at the role that my own personal fears have had in getting into this situation. Fear of change, fear of confrontation, fear of the unknown. They’ve all played a part in this and I think its time to finally address all of these ghosts. Ten years ago I wasn’t afraid of my actions I was just financially stupid – now fear controls more than it ever should. I want to write more about these fears later since I think a lot of people get into situations where their fears end up controlling them.
Step 1 – Stop complaining
Step 2 – Identify the problem
Step 3 – Take steps to fix the problem.
I’ll keep you all posted on the progress; in the meantime cutting costs will continue as will most activities that can improve the situation (alas the new Porsche will have to wait).
Posted in Financial Situation | 2 Comments
Weekly Budget – Week 7 (July 7 – 13)
July 7th, 2008
I’m actually surprised how long it’s taken to get everything back into a state of being somewhat organized and back to normal. I never thought the move would have been so disruptive to my day to day life even a week after move day! I have been diligently keeping receipts but I haven’t been keeping as close tabs online. This is a new week with a new budget which means I restart everything and get back on track.
I’ve adjusted a few numbers this week though overall it’s pretty similar to the past couple weeks. I am expecting that most categories will be about the same with the exception being that I am expecting more in gas costs this week due to some work travel. I am expecting to get reimbursed for my travel this week which should be nice. This week’s budget is as follows:
| Weekly Budget July 7-13 |
||
| Budget | Actual | |
| Alcohol | $25.00 | |
| Food-Lunch | $25.00 | |
| Food | $100.00 | |
| Gas | $80.00 | |
| Entertainment | $0.00 | |
| Smokes | $30.00 | |
| Misc | $50.00 | |
| Transportation | $25.00 | |
| Total | $335.00 | |
I think these numbers are quite realistic and I am planning on reviewing my past budgets and where I have deviated from the budget in an effort to get a string of solid attainable budgets going.
Posted in Budgeting and Planning | 2 Comments
Week 5 Budget Assessment
July 3rd, 2008
When I came up with last week’s budget I was worried that I might not meet it. There were a lot of potential unknown expenses that could have thrown it completely out of whack and that is exactly what happened. I allocated an additional amount of money into the miscellaneous category and a lot more into food in hopes of balancing things out.
But when it came down to it I was completely off. First off I ended up not paying for food last week; my wife took care of that. To balance that aspect out I ended up paying for a lot more of the miscellaneous things that we needed at the new house and unfortunately there is a big difference going from a condo to a house when it comes to what you need on hand.
The miscellaneous category for me holds things that I simply don’t purchase on a regular basis and this past week there was a great deal of those. From renting steam cleaners to extension cords all these small purchases added up significantly.
Another aspect that I thought I had covered off sufficiently was gas but a business trip that I’m still waiting to be reimbursed for drove that number up. Overall I’m quite happy with the results because I came close to the total budget for the week. I was projecting spending about $550 in total and when the dust settled I spent $570.91 which is a difference of $20.91 (or about 3.8%).
Now that the move is taken care of regular budgeting should become easier again. I really need to get this budget tighter and more on the frugal side. I still need to find a means of making more money and to that end I think I’m going to need to start looking for more work or better paying work. This week’s budget will be a test to see if I really can get things back under control.
Thank you again to all of the readers who participated in my contest. I was really hoping that I could have stayed but the experiment was well worth it in my opinion. I’ll write about my experiences and thoughts on it tomorrow.
Posted in Budgeting and Planning | 2 Comments
