Avoiding the Money Trap

Before I ever left Tuscaloosa, I sat down with the person that understands me the best and the one that I trust the most, Genevieve. I knew she would help me work out a system that would work for me a budget. I had seen her budget before and I've seen what she saves by using coupons and such. I wasn't thrilled at the thought of using coupons then I realized it would help a ton if I just used the ones I needed when I had the money and things would be fine.

I live in a two story, two bedroom condo. I work two jobs. I work at Books-A-Million and I work at daycare. I will have another scholarship at the end of the summer for helping with the daycare, and I plan on going into teaching and childcare but that's for a different blog.

Genevieve and I sat down and talked about where I wanted to put money. How much and when. Now I am not going to put those details on my blog but I will show you how I have my money broken into sections.

I have mine put into a spreadsheet but at the moment I do not have a blank one. When I make a template I will load it and make a section for printables.

Available Income (AI)
Wages and Tips                                            
From Savings                                              
Financial Aid (loans, grants, & scholarships)    
Other                                                          
Total AI                                                        _________

Tithe & Taxes (T&T)

• Tithe                                                             
• Taxes (including taxes withheld)                     

Total T&T                                                     _________

Net Spendable Income (NSI)                      _________


Expenses:
Housing

• Condo Payment                                              
• Utilities                                                          
• Telephone (Cellphone)                                     
• Furniture & Appliances                                    
• Other                                                             

Food

• Meals Out                                                      
• Groceries                                                        

Transportation

• Car Payment  I don't have a car payment. My car is in my name, but my dad pays for it as my college graduation gift.
• Car insurance                                                  
• Gas & Oil                                                       
• Car repairs                                                      
• Other                                                             

Education

• Tuition & Fees
• Lab Fees
• Other Fees
• Books

Medical

• Doctor
• Dentist
• Eye Doctor
• Gyno
• Prescriptions
• Other

Other Living Expenses

• Clothing
• Laundry
• Household supplies
• Personal Care
• Entertainment
• Disney Trip
• Gifts
• Monthly Dues (Book club, Netflix)
• Misc Expenses

Financial

• Saving Deposits
• Other Investments
• Insurance (Other than car)
• Debts & Loans Repayment (If any)
• Credit Card Payment
• Loans
• Other

Total Expenses                                                   _________

That's pretty much it. Sometimes I go a little further into Personal Care and break it down further. But this is basically how I set things up. It works well for me.

For further interest in Budgeting and savings check out Money Saving Mom. I love their articles also.