Episode 1: Low Budget Income Series – Why Budget Now + January Budget

Welcome to a new series here on Chaotic Critic. This time is a little different, we’re focusing on finances. My finances to be precise. This is an area in the planner community that is growing with the likes of Shay Budgets and E. Michelle, but as a whole, financial freedom is usually on the back burner. I decided to title this series a Low Budget Income Series as that is exactly what my income is. Hopefully you’ll stick around for the ride. Buckle up!

Disclaimer: I am not a financial expert or accountant. I am on the road to financial freedom like many others and decided to document my journey.

As always, be sure to click the links throughout this post for related posts and links to purchase items/similar styles featured.

Why Budget Now?

This past year my finances have fallen through the cracks. I’ve fallen behind in payments, there’s been overdrafts to various accounts, and I have been forgetting due dates left and right. It’s time to take action so I’ve decided to do just that.

My boyfriend is taking this financial journey with me. As we look into our future together we’ve decided to work together with the limited income we both have to bring everything current and to save as a unit, not just individuals. While we have our personal savings, we definitely want to or something aside together as well.

What I Consider Limited Income?

Between my boyfriend and I, each of us makes anywhere between $350-$450 a week, averaging to $1400-$1800 a month. Neither one of us are salaried so the pay fluctuates week to week. A bad week is $300 or less. While it doesn’t happen often, it still needs to be taken into account.

What’s the Priority for January

My goals are following –

  • Bring past due accounts current
  • Transition all accounts to autopay

As for goals together

  • Save at least $150-$250 a month
  • Reach our goal of $1600 for Wrestlemania tickets (event in April)

Being that we’re working together when it comes to saving, these goals are very attainable. We each have our own personal goals that we want to accomplish as well, these are just the basics. Not only are they attainable, but they’re realistic.

In regard to savings, Wrestlemania is the focus. It’ll be in New Jersey this year and as wrestling fans, it’s been a dream for us to go. Now that we have the means to do so, we’re taking actionable steps to not only attend, but to have money set aside as a “cushion” for the future. Our short-term goal are the tickets where as longterm we want to continue to grow the savings account to at least $5,000 this year.

Planner I’m Using

I’m going to be using the Happy Planner Budget Extension Pack. I have it set up for January to June. I’ve also added in grid paper, folders for bills to pay off, and my budget stickers. I’ll see how this works out for the month of January.

This series will give insight to what works, what doesn’t, am I on track, what needs to be changed, etc. The whole 9 yards. Discussing my finances is something I’m not afraid to share. Again it’s me documenting my journey to some sort of financial freedom. I’m being open and honest about my finances and I’m excited to share with you all in hopes that we can tackle financial freedom together and share suggestions & tips.

Episode 2: Where the Hell Did Money Go in 2018? – Sat. 1/12/19

Keep up with my low income budget series here.

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