March 20, 2018 – Ever since I was a child I have always saved my money. My mom would ask where I got so much money when I wanted to buy something. Well, it came from underneath my bed. I would stuff all my money under it until I absolutely knew what I wanted. I remember my first big purchase as a kid was my first surfboard, and I still have it today. I watched many people as I grew up struggle financially. I also never knew how people could waste so much money at the same time.
We have all been there at one time or another. We struggle financially, we can’t pay our bills on time, and then the interest adds up on our debt. Or maybe you’re just using all of your money paying bills, and you have nothing left over for yourself, or at least you don’t think you do. Maybe your one of those people that eat out 24/7, but you don’t realize how much you cold save if you cut that to half of the time eating out. No matter what everyone can fit into this category. Everyone at one point or another struggle financially, or knows someone who has.
People are always surprised when they here that my husband and I are going on vacation, buying something (even if its small and cheap), or going on our weekly day trips. Then, we always get questioned why we’re spending money that we don’t have. Yes, being a military family money is usually tight. I personally don’t think military members get paid enough. As a 21-year-old and 23-year-old married coupled we are proud with what we have in our bank. We have over 6 figures in savings alone. But don’t get me wrong it took a while to save that, and now that I don’t work we only have my husband’s paycheck to live off of. However, we can still go on our annual vacations out of the country, fly home to see family, and go on our weekly adventures because we budget. We put specific amounts of money away each month purposely, so that we can later use it for our trips/vacations.
Here’s how we budget:
My husband is an E4 and makes roughly $2319 per paycheck on the 1st and 15th. This is where I break down each paycheck for budgeting. On the 1st this is our budget:
Rent in SoCal is $1695
Savings $100
Netflix $10
Emergency Money $80
Rachel’s Saving $50
Dillon’s Savings $50
Our Dogs Account $50
Date Night/ Eating Out $100
Gas $165
Shopping $100
Groceries $100
Than we take $300 from the second paycheck to add to the first, so in the end on the 1st of each month we have about $2,619. In the end this adds up to a cost of $2,500 and we have $119 we usually put away for vacation.
For the 15th its different, and here it is:
Car Insurance $150
Truck Payment $379
Gas $30
Electric $30
Water/Sewer/Trash $60
Renters Insurance $33
Phone Bill $192
Savings $100
Saved for rent $300
Groceries $100
Gas for Car $165
Shopping $100
Emergency Money $80
Date Night/ Eating Out $100
Rachel’s Saving $50
Dillon’s Savings $50
Our Dogs Account $50
In the end of the month, with our second paycheck, we only spend $1969. Leaving us with $350 left over, that again we put away for vacation. All in all, we spend $4,469 a month with $469 left over for vacation, not including any extra money leftover from our budget categories.
Budgeting isn’t that hard, what is hard is trying to stick to the budget. However, once you stick to the budget you’ll see your bank account rising. You’ll be able to afford those day trips and vacations that you always wanted. Every family is different you may have to tweak your budget based on your family’s needs, but you can still save money and build your bank account up no matter what. And if you need help, guess what, I make budgets for families, and even single people who need help financially. Feel free to contact me or find me on Instagram @be.feared. There you can find all of the adventures we go on, and my dog too.
Check out my next blog to come on ways to save more money aside from budgeting! You would be surprised at how much money you can save when following these tips.
Rachel L O’Donnell
Byline: Daily Adventures and blog found on Instagram at www.instagram.com/be.feared
