Work is a little out of hand this week, but needs to be done! I’m enjoying my Truth or Consequences apartment very much, especially the comfy bed in a dark and quiet room, as well as the kitchen. The weather has been beautiful, but I haven’t gotten out at all except to the grocery store across the street. This is simply not a tourism stop.

On top of my regular workload, I have to do all the bookkeeping to close April and start May. It’s especially important for me to keep on top of the budget when I have expenses straddling two months and I’m not entering transactions daily. I’ve gotten used to dealing with the three different currencies, but the addition of US cash is giving me a little more work. I may change my mind and just go back to using the credit card for everything and entering estimated totals until the transactions are posted to my account.

I came in right on budget for April, with about 30CAD to spare! This is a far cry from my last couple of months in Mexico where I usually ended with several hundred dollars to spare, but considering all the extra expenses I had this past month (not counting the truck, which came in within its own budget), I’m just glad to still be in the black!

I should perhaps point out that this is not the balance in my chequing account. I use a zero-sum budgeting approach where my budget resets to zero every month, I can only spend the money I earned for that month, and anything not spent at the end goes into the emergency fund. So this means is that I didn’t have to dip into the emergency fund this month and I put $30 into it. Every little bit helps. 🙂

4 thoughts on “Typing

  1. I do something similar. At the end of the month I add whatever cash I am carrying (cash account) to the balance of my chequing account and then transfer that balance to my savings account. This leaves a balance of zero in my chequing account just before my Union pension cheque is deposited at one second after midnight on the first of the month. I then move the amount of cash I just moved (on paper) from my chequing account back into my cash account. Works for me and it keeps expenses coming out of the correct month’s money.

    • It does sound similar. The key thing to making my budget work for me is that I never spend a future month’s income early. Most of the time, that’s not an issue, but I have the odd early payment that comes in. Mid-April, I got about $400 from a client that I wasn’t expecting till a full month later! I spent the rest of the money pretending it wasn’t there even though I could have really used it! But if I had done that, I would have been $400-minus whatever I spent in April, short in my May budget, kind of like if I had taken out a payday loan. It’s easier in the long run to just tighten up the purse strings in a month that is threatening to come up short.

      I never physically zero out my accounts, but rather track all my different buckets with my software. I have been using a really great app called You Need a Budget for two years now and it has changed my life. It’s not just a place to enter in transactions, but rather a place where I can forecast, track my various buckets, and actually get ahead. It’s a whole philosophy of budgeting that works really well for me since my income and expenses are so erratic.

      • Yes, very similar. My concern was taking cash out in one month but not spending it until the next month. Early on I was actually walking around broke for a few days at the end of the month just so I did not carry cash from one month to the next ;). It was a trial and error process but I finally have a system that works for me.

        • I don’t have that problem with YNAB. It doesn’t care where your money is physically. If I have cash leftover at the end of the month, it’s counted as money I didn’t spend that month and rolls over into the next month’s budget or into my buffer (emergency fund), whichever I prefer.

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