Damn and blast! My new credit card bill is here. Time to face up to how much we overspent last month. I had the budget and I really tried to keep inside it. But once again, I blew it. Not as wide as other years so I’m not going to beat myself up over it. But I do have a better idea of how much I need to pay out to reduce all my debt this year.
I have set myself a goal of being completely debt free by the time I’m 55. That gives me just under ten years. You’d think that someone of my age and experience would be able to set a goal and just go for it. But when it comes to money, I always have champagne tastes.
But budgeting really shouldn’t be just about setting a goal and going for it. As I am rapidly discovering there is an ongoing essence to my budget. My income varies, and my expenses vary. Somehow I have to put the two together to ensure that there is more in the positive- savings, debt payments and chocolate – than there is in the negative – household bills, car maintenance and teenagers.
So I have to set a side an hour or so each week to look at my finances. Many of you reading this have probably been doing this for years. But it’s all new to me. One thing that I have noticed since I have been doing this is that I haven’t had my eftpos card declined for a while now. It’s not that I have more money, I just don’t try to spend it at the wrong time.
So the credit card bill calls for another rethink. That’s ok. It gives me an excuse to sit down and go over the other money too. And I’m making notes in my diary. By the end of the year I want to have reduced my debt. That means that the credit card will be closer to zero and maybe I can pay some of the principal off the mortgage instead of just the interest. I know where I want to be. With constant fine tuning of the budget I am determined to get there.