Cut Backs

My fiancé and I start our new budget every Thursday; $300 gets divided up between four containers: Transportation, Food, Entertainment (we all know that even on a budget we should be “allowed” fun), and Clothing/Gifts. Every Wednesday I separate the money into the specific containers for the following week; any left over money from the Food and Entertainment budgets gets put into our wedding savings ($50 every week on top of this budget also gets put into the wedding savings) and any left over money in the Transportation and Clothing/Gifts containers gets put into their respective envelopes to be accumulated for bigger purchases (longer trips that require more gas, license plate change fees, my fiancé’s work boots, birthday presents for friends and family, etc).

I was looking at our totals for takeout meals from the two previous months, and was blown away. $______ in three weeks in February and $_______ in four weeks in March; it was just too much. I decided that if we cut our budget, reducing it by 20% in each category, it would cause us to use our money more efficiently. Especially using our money for groceries, eating at home more often and saving restaurants for special occasions rather than everyday fair. Starting yesterday, this is the month for that change to occur. I re-did our budget, and cut it down that twenty percent to $240. That $60 savings every week will get added to the wedding fund. Shortly (by the end of May) we will be able to put a deposit on our photographers, without affecting the house savings.

We’re going to have to learn to be more resourceful. Planning our week of meals together; that way we’ll both know what to expect for dinner and there will be less waste. Baking on the weekend, so there’s a little something in our lunches for the following week. Shopping at discount stores (I’m planning on going to one tomorrow just to see what they have) for non-perishables. Planning (creative) twenty dollar date nights (going to happen on Wednesday nights, only if we have money left over, about once a month).

I know we can do it; we just need a little push in the right direction. I know that by cutting the money off at the top it’ll allow us to save more without even thinking about it. Yes, sometimes it will be a bit more of a struggle, but I’m convinced that we’ll still have money left over in the containers at the end of the week. I’m looking forward to putting the first deposit on our wedding, and this is just another step closer to that day!
March 27, 2009