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Debt free update: week eight

2/5/2015

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Another day, another dollar

Payday is upon me again. Money from my employer is like fresh bacon landing on my plate. I already know the plans for hot bacon. But do I have a plan for my money? I guess this is why I need a budget.
In the last two weeks I have jotted down expenses that are incoming. Nearly all my expenses are known. Saving money is my biggest goal today. I am currently running a very lean list of expenses so that I can complete Baby Step 3 as soon as possible.

Taking my foot off the gas a bit

I have saved about $2,000 in my emergency fund. I have about $2,000 more to save before I reach my saving goal.
Spring break is fast approaching and we used Rapid Reward points to book confirmed travel to Austin in April. The trip total cost for transport and shelter will be about $1,300 total. The cost will be shared equally between my wife and myself. So I would like to set aside at least $650 although we may use about $400 that we have in PayPal (selling on ebay) so I may only need $450 for expenses.

Budget detail February 5th

Income:
$930 after tax, deductions and 8% retirement savings (take home). I have now(3/19/15) removed retirement savings until we buy a home in late 2015.
$301 pending assignment
Expenses:
$300 1/2 of half months rent
$100 savings
$96 energy bill
$42 license renewal

$40 health & wellness
$20 domain service
$17 shirt & shipping

$14 water bill
-------------------------
$629 in Expenses

To save or not to save

$301 pending assignment. I am totally breaking all the rules of the zero budget. While I would like to predict the next two weeks I really don't know whats going to happen. So I am basically going to try to save as much of the $301 that I can.
If I am able to grow the $301 to more than I will be spending in Austin in April then I will put it toward the emergency fund after the trip. I am going to exercise discipline not to use the extra money to justify extra spending. That would be irresponsible.

The Bi-Weekly Money Bacon budget

This has been the February 5th budget. I will revisit the budget topic again on February 20th which is my next payday. I think I will again have surplus money after bills and rent on Feb 20th. If I save $350 in the next check then I will be able to resume saving in the emergency fund.
I prefer to keep the future trip money away from ever being deposited in the emergency fund. The advantage of the separation is that by never making a withdrawal from savings I am able to make a mental barricade that keeps me from using savings for a daily save-all when I need money.

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