The "B" Word... Budget

A few years ago, I created a full spreadsheet budget. This baby has everything down to formulas for income to expense ratio (a truly scary experience when you realize what that is.) Every year I faithfully sit down and figure changes to the budget while trying to tweak it to get the optimal debt repayment plan. And then life happens... the gift you've got to pick up... the dish you're supposed to bring to the potluck but unexpectedly ran out of a crucial ingredient... the long distance drive that brought the gas tank down to empty.

My budgets never give me enough elbow room to deal with the little things. As a result, my progress on debt repayment is more like two steps forward and one step back. Tonight I took two very big steps forward. I cut up all of my credit cards. I haven't abused them like I did when I started this mess, but I still fall back on them when my budget didn't make it. I just solved that problem with a couple of snips. That safety net doesn't exist anymore. The second step was evaluating just how short my budget really is. I figured out that I need to increase my income by $150 per month because I don't have any give until I can pay off two minor debts. Those two are my focus with a plan of taking them off the board in the next two weeks.

Moral of the story... BE REALISTIC.

Alternative Transportation

There was a time when I received assistance with my parking, but after my '84 Olds meet her untimely death, I never asked to have that assistance reinstated. I've been paying my parking ever since. For a time, I had a carpool buddy. Granted we never discussed how much he was going to contribute and I took his age and lack of income into consideration I didn't push the question. When I lost my carpool buddy, I bit the bullet and started taking mass transit. I don't know why I didn't do this sooner except that I was concerned about loosing my parking spot. I knew it would be impossible to get it back.

Confession... I live within walking distance of Fareless Square, an area of town where you don't have to pay for a ticket as long as you stay within "Fareless Square." The walk is about 10 blocks, but I'm enjoying to peace and quiet. It helps me relax before sitting down to my desk. The time on the bus has given me a chance to read, something I haven't had time for in quite awhile. I will have to reevaluate this choice if they get rid of this zone as the rumors have been suggesting.

On the really nice days, I've been walking all the way to work, which is about 2 miles. If they do get rid of Fareless Square, that's always an option and finally have no fear, I have a backup. My bike is tuned and ready to be put into action. I live in a very bike friendly city and am practicing on the weekends.

Finally, when the season changes and the rains come in, I have started networking for a new carpool buddy. I think I've got a good one lined up for the rainy season.

Bottom line, I'm saving $8 per day or $140 per month and I'm happy to say that I've already lost 15 pounds. Consider alternatives. Its good for the earth. Its good for your body. Its good for the pocketbook.

How Many Meals Can You Make Out of 1 Chicken Breast?

As a single person, its difficult to be inspired to cook a meal for one. One of my favorite ways to combat this boredom is to cook chicken breasts to leave in the freezer and fridge to pull out when I don't want to cook. Below are a few suggestions for the simple chicken breast.

Chicken Quesadilla - Take chicken slices and spread out in a tortilla. Add shredded cheese (any kind will do.) Then get wild with all the choices. Italian: Use mozzarella, basil, and tomatoes. Club: Add bacon and blue cheese. Mexican: Sour cream, salsa, and olives.

Chicken and Pasta - Add Parmesan cheese, sun dried tomatoes, mushrooms, olive oil, and a bit of cream. (I cheat with a touch of sour cream for thickness.)

Chicken Shepard's Pie/Pot Pie - Use left over mashed potatoes, biscuits, croissant, etc., gravy or cream of mushroom soup, carrots, peas, and mushrooms.

Chicken Bento - Leftover rice (I tend to make a big batch over the weekend and keep it in the fridge to warm up.) and vegetables with a touch of teriyaki sauce. Heat in microwave.

Chicken Salad - Get creative. Anything goes.

What ideas can you come up with?

September Goals

The journey to debt repayment isn't always an easy one. For me there have been many trips and stumbling blocks along the way, but my determination still stands. I look at the stock market and think, "Now is a great time to scoop up some of those bargains." I'm looking at the housing market and think, "If I hadn't gotten myself into this mess, I could be purchasing a home now." Its difficult to keep the enthusiasm up when you deprive yourself even if the goals in sight are what you really desire.

During this quiet period, I've picked up a second job to help pay down my debt quicker. While my determination to get on top of my debt is strong, I took a look at my spending lately and realized that I haven't gotten very far and its because I've been taking care of those things I put on the back burner. You may think you remember where your at in your plans, but it often takes a look at the hard copy to get the real picture. So, with that said...

My Goals for September ~
- Take parking down to $40 for the month (If I get reimbursed for it, that's even better.)
So far I've only driven once this month and my mom paid for it because I was her taxi.
- Take my lunch four times a week. Limit dining out to 1 lunch per week.
- Pay off 401k loan. I know, I know, BIG MISTAKE to take a loan out against your 401k!
- Create Christmas list so I can take advantage of sales over the next 3 months.
- Add $50 to Emergency Fund
- Add $50 to Roth IRA

Updates and Evaluations

I've been reevaluating my ability to save money and taking a hard look at my decisions. Its easy to say I'm paying off debt, but a completely different reality when I realized I was only partially committed. I'm happy to say that I've started to use public transportation and even walking to work. It's saving me at least $8 a day in parking. I've been working at packing my lunch and breakfast which is saving me $5 for breakfast and $12 for lunch. I'm making sure I get my money's worth out of my gym membership frequently making workout dates with friends rather than going out for dinner or coffee. Finally, I've picked up some side work on the weekends which is bringing in some much needed extra cash.

Inexpensive Birthday Celebrations

When you're on a budget and looking for an inexpensive way to host a party, consider a bit of nostalgia. Bowling offers the opportunity to talk with everyone and yet provides an activity. For a rental fee of about $3 for shoes and $2 per game after 8pm, you just can't miss.

Today was a close friend's birthday. Inspired by a recent trip she took to Hawaii, I went to the party store and spent $15 in decorations and favors. I know I could have saved quite a bit, but it was worth it and I can reuse most of it for another island themed party. I purchased silk flower leis, a posable cardboard dancer, tropical fish bendy straws (because its not a party without fun straws!), and a crown for the party princess. Dinner consisted of 1 pizza for $14.75 and atomic cheese nachos as a joke for the birthday girl ($3.75).

Now, I have to admit that I could have done this for less, but there was no clean up and I was able to participate as much as everyone else because I didn't have to do anything.

As for the the party itself, I think everyone enjoyed the music from the 80s, neon setting, and of course, those fashionable shoes!

Debt Repayment Update

After struggling for some time with my repayment plan, I've been pushing forward with efforts to increase my income. My first step was to call a bakery I used to work for. Knowing June is a huge wedding season, I asked if they needed help with delivery. I've now completed two weekends and earned $250. Helping a friend rent her apartment I've scored another $100. Best of all, my $600 kicker check should be here by the end of the week.

All of this will ensure I reach my goal of paying off a 401k loan.