An In Depth Look at My Policies

I've mentioned that I'm serious about my budget. But, I don't think you understand how serious...

I have policies.

This is something that I recommend for all budgets. As well as finding the motivation for your budget/goals. My budget is the thought of getting an apartment with Jon. Every time I think about spending, I look at the floor plan of the apartment we want and I imagine us living together.

Back to my policies.

One of the biggest policies I have is that I have to sign up for direct deposit for all of my jobs. Always. This saves me time and money (no more trips to the bank that's all the way across town!!!) From there, I calculate how much money I need for my bills that week. That's how much money I leave in my account. The rest gets transferred into my "discretionary" spending account. I make sure I set enough aside for my gas costs and any other necessary costs for the week.

And the rest gets put straight into my savings.

And I forget about that money.

I don't keep track of how much money is in my savings. This makes it easier for me to forget about how much is in there.

I also take five to 10 minutes every day to review my finances from the day before. I can afford five or ten minutes every day to make sure I'm on track financially. At the end of the week, I give myself 30 minutes to make sure everything is in order. And at the end of the month, I review what budgeting methods I've used didn't work for me. I adjust my budget for the next month. And I mark how far along I am in my goals.

I have also asked someone to review my finances for me, in order to keep me honest. Though we've agree upon a one month review, I might ask him if he'll be able to review it weekly.

I have agreed to try to keep $10 in my "bill pay" checking account at all times, in order to prepare for incidentals.

I've also decided to save my change. The change from cash transactions goes straight into a mason jar for my boyfriend. (I'm saving to help him build a new computer.) When I have a debit transaction, I round-up and transfer the difference to my savings. It may not seem like much, but I saved about $20 in just a couple of months doing this with cash.

And whenever I want to buy something that isn't related to my apartment, I add it to my "Thirty Day" List. If at the end of the Thirty Days I still want to buy it and if I have the money for it, then I can buy it.

It's a good idea to create some policies for yourself. I like that I have some that keep me honest. And I like that I have built in time for just my finances every day.