The Dawn of a New Era
My wife and I had our financial summitt this weekend. It went well. We think we have worked the numbers to fit the new budget. Sacrifice is tough. We will be starting on August 1st. We decided to use the calender month as our fiscal month. We will meet again at the end of the month to see how it went and what changes need to be made. Important notes:
* All surplus will be rolled into DP fund.
* All deficits will be deducted from next month's allotment.
* Allowed 1 Mulligan PP for the first 2 months.
- A Mulligan is defined as a momentary lapse of budget conscienceness. The funds will be supplemented from emergency cash. After two months, will be treated as a deficit.
Some of the most intense conversation came from the biggest change in this budget. We are converting from a 3 account system to a singular account. Previously, we both deposited a set amount into a joint account that was used to pay for bills and the remainder went into individual accounts to be used as we wanted. It worked perfectly as we first merged our finances. The big problem now is - its not working for our common goals. No savings. Now we are accountable for what we spend for individual pleasure. The funny part is neither of us really cares what the other spends, but we don't want to be seen as the majority money spender. Those greens fees cost what?!? This aspect will take the most patience and discipline. We have always been great communicators and we have agreed to talk about any ill feelings about individual expenses. One potential fix is dividing the Fun Money into 1/3s. That way we can spend our part of the fun money without feeling like we are taking away from the other. I don't really want to do it this way because I want us to be accountable for our spending and get into the mentality of OUR money.
This weekend we gave it a test run.
Friday - greens fee and 19th hole dinner and beverages. Maybe walk in the future instead of taking a cart.
Saturday - Did not eat out for lunch or dinner. We ate at one of CC's restaurants and cooked dinner at home. Brought beer and a flask for street festival. We did splurge on a intoxicated pizza at 1 am.
Sunday - Did not go out for lunch. Did not buy margaritas for poolside treat. Tap water is not as enjoyable as a lovely glass of margarita, but it was cheaper.
** Weight loss note - I began playing Sunday morning basketball with the boys. I cancelled my gym membership in a money savings attempt and I am looking for free exercise indoors during the oppressing heat. It also achieved detoxing from previous night.
All in all, I am actually excited. It is going to be a challenge to get to our goals. We are notorious big spenders especially during the upcoming holidays. So the most difficult is about to come.
Notes for the upcoming week. Look into ING account for DP savings and mail out the wedding thank you cards.
* All surplus will be rolled into DP fund.
* All deficits will be deducted from next month's allotment.
* Allowed 1 Mulligan PP for the first 2 months.
- A Mulligan is defined as a momentary lapse of budget conscienceness. The funds will be supplemented from emergency cash. After two months, will be treated as a deficit.
Some of the most intense conversation came from the biggest change in this budget. We are converting from a 3 account system to a singular account. Previously, we both deposited a set amount into a joint account that was used to pay for bills and the remainder went into individual accounts to be used as we wanted. It worked perfectly as we first merged our finances. The big problem now is - its not working for our common goals. No savings. Now we are accountable for what we spend for individual pleasure. The funny part is neither of us really cares what the other spends, but we don't want to be seen as the majority money spender. Those greens fees cost what?!? This aspect will take the most patience and discipline. We have always been great communicators and we have agreed to talk about any ill feelings about individual expenses. One potential fix is dividing the Fun Money into 1/3s. That way we can spend our part of the fun money without feeling like we are taking away from the other. I don't really want to do it this way because I want us to be accountable for our spending and get into the mentality of OUR money.
This weekend we gave it a test run.
Friday - greens fee and 19th hole dinner and beverages. Maybe walk in the future instead of taking a cart.
Saturday - Did not eat out for lunch or dinner. We ate at one of CC's restaurants and cooked dinner at home. Brought beer and a flask for street festival. We did splurge on a intoxicated pizza at 1 am.
Sunday - Did not go out for lunch. Did not buy margaritas for poolside treat. Tap water is not as enjoyable as a lovely glass of margarita, but it was cheaper.
** Weight loss note - I began playing Sunday morning basketball with the boys. I cancelled my gym membership in a money savings attempt and I am looking for free exercise indoors during the oppressing heat. It also achieved detoxing from previous night.
All in all, I am actually excited. It is going to be a challenge to get to our goals. We are notorious big spenders especially during the upcoming holidays. So the most difficult is about to come.
Notes for the upcoming week. Look into ING account for DP savings and mail out the wedding thank you cards.
posted by Larry at
11:23 AM
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