Thursday, April 21, 2011

My Own Financial Bloggers Hotline

Yesterday I was talking about adding an Entertainment line to my budget. I received a lot of good advice and thoughtful comments and I want to thank everyone who commented - it's like having my very own financial hotline!! I have decided to go with Borrower's suggestion of using my credit card til Friday and include as an expense to pay off next month rather than reduce my savings now. As of this moment I have $10 left in my wallet til next Friday, April 30th.

I do use my PC Mastercard for almost every purchase anyway as I collect the points for free groceries so the only difference will be that instead of paying it off each time I use it I will wait until I get paid on the 30th. Just this once. And while working on my budget for May this weekend whatever I spend will be added as an expense just for May plus I will jiggle the money around to create an Entertainment line. Right now it seems like an impossible task to find the money to create yet another budget line but once I start to crunch the numbers I'm sure I can come up with something.

The Witch also made a comment that I really liked: any unused money left in the Entertainment budget line at the end of the month stays there and can build towards a bigger treat like a weekend getaway!! A fabulous idea!!

Further updates to come - enjoy your Thursday!!
Written by at
Labels: , , , ,

8 comments:

  1. jpkittieApril 21, 2011 at 7:29 AM

    so cool!!!!

    loving the new looks of the blog!!! :)

    ReplyDelete
  2. Sonya AnnApril 21, 2011 at 8:53 AM

    I was wondering if I would be allowed to call in to your hot-line. I love blogging for this reason. So many people to help you when you need it.
    Have a great weekend!

    ReplyDelete
  3. MarkApril 21, 2011 at 9:28 AM

    Gosh, it must have been about 40 years ago when I realized that I was born with my own entertainment. Plus, it's free to enjoy anytime I want! Ask Michael, he'll fill you in. And let me know if you need any other money saving tips.
    Your Friend, m.

    ReplyDelete
  4. StephanieApril 21, 2011 at 11:13 AM

    I too love the look of your blog! It's so different from all the others. Financial bloggers hotline - that's cool! I also like the idea of letting the entertainment fund grow - great way to save for a fun weekend way :) Enjoy your day!

    ReplyDelete
  5. The BorrowerApril 21, 2011 at 1:19 PM

    Of course I love this idea. heehee

    Why sacrifice income for a temporary flux that wont cost you money? Those credit cards are tools that earn us cash. I just cashed in another $60 of cash back from a card this morning. YIPPEE! I love getting money back from credit. Just never forget to pay in full before the due date.

    Since the Entertainment account will keep any excess until you need it in the future, maybe use an account like Electric Orange (ING) which will earn you money and you can tap with the debit card when you need it. An envelope works well too.

    ReplyDelete
  6. JaneApril 21, 2011 at 4:11 PM

    Thanks jp! I like to change things up frequently - it's my ADD!

    SonyaAnn - the hotline is open to everyone 24/7. That's another reason I love blogging - there's ALWAYS someone AWAKE!!!

    Mark - you are such a wealth of information! And yes, your idea may be free but that doesn't mean we're cheap!!....err does it?

    ReplyDelete
  7. JaneApril 21, 2011 at 4:14 PM

    Thanks BBW - I am a little odd...oops...I mean different!

    Borrower - it will definitely be another ING account - I have several already and love the convenience of "moving" my money around online. Obviously so do you!! Thanks!

    ReplyDelete
  8. ~Carla~April 22, 2011 at 3:04 PM

    Great plan!! I usually have a budget for "fun" but lately have just been lumping our budget totals all together, in hopes of saving $$! lol!

    ReplyDelete

Thank you for your comment - it means a lot to me that you read my post and are leaving a comment - you just made my day!

Subscribe to: Post Comments (Atom)