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Musings and starting to budget

October 9th, 2013 at 07:20 am

Hi all.I have been motivated (and shamed) by reading all the other blogs here.. lots of people hard at work!. I am going to start tracking money and forming a budget. I have a budget (sortof) except I do not track specifically to it.. but if the house refinance (short refinance goes through) I really need to get tighter and everyone else is escalating their goals.I may as well too.I will start to track as of today and then maybe 'enter' some of the challenges other have posted.. snowflakes (need to get a handle on what those are), 365 day thing and then No Spend Days and Low Spend Days.

This is the current budget including the 2 flat and is a 'rough budget'. I do not include the 6 homes here but will share that as well as how the deal came together for folks who want to know.





4 Responses to “Musings and starting to budget”

  1. creditcardfree Says:

    My definition of a snowflake is just a small amount of money (generally) that is not sourced from income. It could be a rebate for a purchase, money paid for a survey, aluminum cans cashed in, coins on the street, money received from a gift, or even selling an item on ebay or craigslist. The point is that the small amounts add up, or snowball, and get you to your goal.

  2. Rachael777 Says:

    Thanks. That comment 'not sourced from (regular) income' makes it very clear. I will work on finding ways I can make obtaining 'snowflakes' fit into my normal activities and then set some goals to 'paydown' or 'buildup' with them. Smile

  3. TashaC. Says:

    Hi Rachel, the small challenges really help you stay motivated. Having a No Spend Day is something you wouldn't have noticed you were doing previously, but when you actively try it out- there is a good sense of accomplishment at the end of the day and gives you the confidence to push yourself further. Holding yourself accountable can get addicting when you see results!

  4. momcents Says:


    My thoughts are if you slowly decrease amounts in each spending category, you can see an immediate increase in savings which can motivate you to be more creative in saving/spending arenas.

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