I'm currently at a point where I feel like I am completely broke. I'm sitting in class right now and I'm going over my finances. I've been using Microsoft Money for the past couple months to track my expenditures. I currently have about 6 months of records in.
Since I feel like I have no money to spend right now, I asked myself "Where does it all go?"
I noticed that, yeah, my Food: Dining Out was pretty high. But, for the past 2 weeks, I've turned that around. I've been trying really hard to pack my lunch and cook dinner more.
I then noticed that I was spending a lot at Walmart & Target. This was all clothes and other household stuff (also known as JUNK). But I also noticed, I haven't gone shopping for clothes or JUNK in almost 3 weeks.
Pretty much, I noticed that although I've MAJORLY cut back spending the last couple weeks, I still haven't gotten ahead at all.
Then I realized...those darn taxes are still kicking me in the butt. I ended up owing a total of $694 to the government. For me, that is a LOT of money. Almost a whole month's income!!
These taxes just really messed me up. I finally decided to get my finances together and I've been working so hard to save money. And now I have nothing to show for it.
I now see the benefit of budgeting money for things. Had I set aside money every month for my taxes, I would not be in the position I am in now.
Where does it all go?
April 28th, 2006 at 12:53 am
April 28th, 2006 at 02:40 am 1146192016
April 28th, 2006 at 05:16 am 1146201401
April 28th, 2006 at 10:45 am 1146221102
April 28th, 2006 at 01:20 pm 1146230444
So now, try to continue with being vigilant about your expenses. You'll be able to fund your savings, as well as set aside some for periodic expenses, like your taxes.
As it is said, today is a new day. Bit by bit, you'll make progress. You are one smart 19 yr old to be getting a handle on your finances. It will only serve you well!
April 28th, 2006 at 02:25 pm 1146234323
April 28th, 2006 at 02:58 pm 1146236289