For the first time ever - budget
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| Wed, 03-22-2006 - 10:27am |
I am not good with budgets. Basically, I write down in my day planner what I need to pay each payday, I already have money going to a 401k and a savings (since just very recently) and I try to be careful not to overspend. Since its the first time I've had the "luxury" of even having some bit of money to budget, I don't think I've quite gotten the hang of it. I try to stick to $10/day for lunch and gas and so far so good.
I just got back from Ireland today and I had budgeted well for the trip until I got there and realized I didn't account for the Euro instead of the Dollar. Yikes! And then there was an error with my prepaid hike of $77 and I could not do the hike and I would not get the refund until after I was back in the states. I didn't want to miss out, so I did another tour but was a little worried I basically doubled up on the money I spent that day. Then I went to Northern Ireland and it was the pound sterling so I later realized when I took 80 pounds from the ATM, it was actually $140! But amazingly, I tracked every cent I spent no matter what the currency each day. Even the 1 euro for a phone call to mom, 2 euros for internet access, etc. I felt so much more in control and was not paniced by not knowing exactly what I was spending because I knew I was close. I went to Subway instead of a nice restuartant for dinner, walked to a closer point to take a taxi etc. I just checked my bank today and I am shocked - I came in $100 under budget! I would never have even thought about keeping a budget until recently! This tracking my money is all new to me but its really, really helping. And the mindset of saving a dollar here and there does add up. If I had not walked to closer taxi points and bought meals that were 3 euro cheaper each day, I would have been WAY over budget and never understanding why.


Hello,
Congratulations on taking such good care of your overall budget for the trip. Unexpected expenses might trip you up a little, but you were aware of them while traveling, so you could plan to be a little more frugal on something else.
I'd have to say that you *are* good with budgets. =)
Most people can create budgets, it's just sticking to them (discipline) that is hard.
Sincerely,
Lindsey Schocke
Sincerely,
Lindsey Schocke
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