Money woes, or where have I been?

I am so embarrassed. I started off with the best of intentions, to take you on my journey of dealing with debt.  I started off with a bang, but unfortunately that quickly turned into a whimper. What did I do? I joined a health club and enlisted the help of a Personal Trainer. Mind you, it’s speed training –  half an hour, twice a month – but that is still an expense. Gone was the extra money I was going to use to pay down debt.

I had two competing objectives: one, to pay down debt; two, to get physically fit. On my limited income, it’s not possible to do both.  I should mention that I have had a hip replacement as well as breast cancer, so being fit is a priority.

I haven’t taken on any more debt. I just have the additional payment to the health club. On the positive side, I’ve made some lifestyle changes. I don’t eat out nearly as often. I am finding ways to cut back my grocery bill. And so I am starting to save each month. Soon, with the approach of spring, the hydro expense will be significantly lower.

I work with a spreadsheet, and categorize my expenses into; Fixed, Flexible, Food, Fun, Fitness. I document expenses month by month, and subtotal each category weekly, with a total at the end.  That may seem like considerable detail, but breaking it down by week has given me valuable insight on how I am spending my money. When I budget, I know how much – or how little – I need.

That’s my update for now.

Until next time,

Penny