This week I want you all to get out those bills...all of them. Take a sheet of paper and divide it into two sections: fixed costs and non-fixed costs.
Here is what we're going to do:
Go through each bill and see what you are spending on all of your monthly fixed costs (meaning costs that you MUST have each month -- insurance, utilities, rent/mortgage). Think of it as things that are a need vs. things that are a want Note that some "fixed" costs are only fixed in the short term and can be adjusted or lowered over time. List all of these under fixed costs. This section will score you 10 points.
Next do the same with the rest of your non-fixed costs (pretty much everything else). This will score you another 10 points!
IMPORTANT: SAVE THIS LIST FOR THE FOLLOWING CHALLENGE!!!!!
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5 comments:
I think ours is already tracked for us in Mvelopes (our online budget program), but I'll look at it again tonight to double check.
It is tracked for us in Mvelopes, but we can right it down so it is obvious to us what we are spending our money on.
The problem with Mvelops and direct withdrawal is that you don't consciously think about what you're spending. You just know it's taken care of and you should never have a late fee or overdrawn check. Writing it down may help us see where the money all goes the day after it falls into our account.
Good point Clark. I totally agree. Out of sight is often out of mind.
I guess food for chicks is considered a "fixed cost" until they are nice and fat at which point it will turn into a "variable" cost?...and then...we dine!
Dibs on Peckers gibblets!
Oh, Pecker's going to be the first one that goes. That is, if she doesn't escape first. Her giblets are all yours.
Bills challenge done.
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