Chris Writing Anything

Write about your approach to budgeting.

At this time of year, no subject could be more relevant than my budget. From season to season, depending on my leisure and entertainment pursuits, it may be altered. Yet, it’s tax time, and that’s when I hatch a yearly financial strategy.

This is my approach…

First, I peek at my monthly bills, and I find the ones that are climbing. I’ll address those costs by searching competitors, as I hope for a less expensive fee. However, if I can’t find better prices, I’ll cut the expenses other ways.

I’ll also hack off costs I don’t need, especially entertainment outlets. If I’m spending too much on a streaming app, or if I’m paying for one I never use, I’ll eliminate it. I’ve done that this year, Amazon Prime got the boot, Apple TV is in and I purchased a yearly subscription for an educational app. I also got rid of Time Warner Cable, and, since football season is over, I said goodbye to the NFL streaming app.

So, in the end, my entertainment costs are less. Besides cutting costs, I also make sure I’m ahead on my car payment. You might ask, “Hey, before you pay on your car, wouldn’t you ensure sure you have a roof over your head?”

I’d respond with, “Yes, a roof over my head takes precedence. However, my car loan’s interest is much higher than my home loan. So, from a financial standpoint, paying on the principle, and paying in advance, saves me money.

Besides that, a third of my paycheck goes towards living expenses, or, if I’m to be more precise, a third of my take home pay goes towards cleaning supplies, groceries and toiletries. I also use some of that for recreational shopping as well.

Of course, if one wants to be financially secure, one must have safety nets, which would come in the form of savings and investments. All told, I believe fifteen percent of my total paycheck goes towards investments and savings. I know, it sounds like I save a ton of money, in reality, I’m still not close to retirement.

Lastly, I set aside money for recreational pursuits. Bike passes, equipment and travel expenses must be accounted for. So, this spring, as I crunch the numbers, I’m sure to allow a few bucks for playtime.

In a nutshell, that is my budget. It’s odd, but, before I looked at today’s prompt, I was actually drawing up this year’s strategy, and I was setting goals both financially and spiritually. I aspire to reach them!

Have an Excellent Day!