At the start of the year, Daddykins and I started a new budget and so far, it is working well. We have a few savings options and ideas kicking around, but what I love most is my file folder of savings. Our amounts saved grow little by little every week and so far, so good!
I have a few categories that were immediate needs for us, and so those became the categories we contribute to on a weekly basis (most of the time...). All of the accounts have a capped limit, and once the limit is reached, the funds will be diverted into another account. If I have to take money out of an account, then I will revert to building the emptied account as I did before it was full.
- Girl's Food - Amount contributed: $20/week - we buy the girl's food from amazon, but I did not want it sitting attached to my debit card, so I pull $20 out a week, and then put it back in my account when we need to purchase. This is the only account that has money coming and going on a regular basis. The account will be frozen at $200, and new incoming money will be put into their emergency fund.
- Girl's Emergency - Amount contributed: $10/week - we do have pet
Just a simple file folder found at the dollar
bin in Target! Love my dollar finds!
- General Emergency - Amount contributed: $5/week - this is for those unexpected dryer repairs, calls to the plumber, 'last pair of sneakers finally worn out' things that come up in our lives. I have less contributed to this account than others because we historically have had few of these 'emergencies' and I am banking on the trend continuing. Once the account reaches $400 and then new incoming money will be put towards our "car emergency" fund.
- Car Emergency - Amount contributed: $5/week - I hate cars, hate hate hate them... they always break. And cost a lot. So I have this fund, and I hope I never have to use it! This is capped at $400, and I am sure it will be forever in use and never actually full, but in the event that it is, money will then be diverted to my oil changes and tolls fund.
- Oil Changes/Tolls - Amount contributed: anything extra - I couldn't justify having a real amount given to this, so when I have a mileage check come in or an extra few bucks, it goes into this account.
- Camping - Amount contributed: My Nannying Money - we love to go camping and have most of our supplies but food and gas still cost money, and so I don't blow our weekly budget when we want to go, I have a fund! And it is full at $300! So now all my money from part-time Nannying will go into General Emergency! So happy to have an account full... I never thought it would happen!
|The ledger I created to help keep track |
of what was going in/out of the accoutns.
Other accounts that will be contributed to in the future... but our budget didn't allow for it now, but I have plans for it!
- home improvement
- health emergency
- wedding fund
To keep track:
- I ended up making a ledger for each file within the folder. It allows me to keep track and add/subtract as things change, and I can easily remember how much I contribute and what my goal is so I know when I can stop. I also put a sticker on the back of each one which tells me what I will be contributing to next, once my account is full.
- To do the saving I want/can do, it is only $40 a week, which fits into our budget well.
- Pop it in, adjust my ledger and move on! So fast and easy once I had it set up and I have a little cushion to fall back on in case of emergency.