Tuesday, August 5, 2008

Plan your work, then work the plan!

Okay....we are officially back into the game! We've got our budget created - and balanced! - and pending spouse's approval. For me, this is really the hardest step is laying out the budget. Following it should be okay as long as we don't get a "Murphy" visit. The Murphy of the famed Murphy's Law: "If anything can go wrong, it will".

We still have our Beginning Emergency Fund of $1000 in savings. We have sinking funds for various longer term items (twice yearly insurance, house repairs/upkeep, christmas fund) in an Orange account from ING Direct.

The kids have been commission style for a while---I have not paying much in allowances lately. Savings for me, disappointed they don't do their extra chores beyond the bare minimum. Humph.

We are planning on reading the Financial Peace or Total Money Makeover again, just to get motivated.  We are setting our long-term goals and try to fit all this into it.  

We are brainstorming ways to reduce expenses.  We had cut down expenses a long time ago and kept many frugal habits, but there is some fluff in the budget we could axe.  Next year, I can do a bit bigger garden. This is more for health than budget, but it works in both ways.  Double benefit!

Also brainstorming ways to increase income.  I think I am going to try to add a child to the daycare. I will be at capacity again.  I haven't filled the spot because I wanted some special times with my long-term kids before adding a new one to the mix. I actually like the chaos of a full house.   I may also make some things out of extra stuff around the house -- like scrap pages, activity quilts, jewelry, bookmarks.  We have the supplies just hanging around in our art cabinet.  Maybe income online: chacha guide,doing online surveys, associate content writing. I may do retail over the holidays as a short term gig.  Spouse is going to work OT as much as they let him.

So far so good...planning almost done.

Next step: implementation.

No comments: