I track our monthly budget from the 15th of the month because that’s when Thomas is paid. So our 2011 budget doesn’t start until next week but I think I have finalized the changes I wanted to make from last year. Here are some of the changes:
- Equal billing on our gas bill. Our gas bill ranges from $20 to $120 each month. We couldn’t sign up for equal billing until now because we needed to be customers for so many months. This change won’t save us money but will be easier to budget with a predictable amount every month.
- Predetermined savings amount. One of the first deductions at the start of the pay period will be this predetermined amount right into our savings account. It’s not a lot but the amount increases every four months. We’ll also be savings half of any extra income.
- Increase in debt repayment. There’s a slight increase in how much we pay back each month. We’ll also be applying the other half of any extra income to debt repayment.
- Further divisions to household categories. A general “household” category used to work fine for me. I put a lot into this category: groceries, clothes, household items, small repairs, etc. Now that we’ve cut any big expense and we’re down to trimming pennies, I needed to further divide the household category to find that little bit extra that I can cut.
- Allowances. We spend less on junk when we have a limited allowance.
Are you making any changes to your budget this year?