I'm so thankful today is payday. I've felt completely disorganized as of late. With the exception of groceries and household items, I feel like I've been a very busy beaver spending money. I suppose that Christmas is the main culprit but I was feeling like it would never stop. I also had booked our hotel for our trip in January and that was still sitting on our credit card (only for a week but still).
The main reason that I feel out if control with Christmas is because I don't have a total budget. I know about what I want to spend on people and I shop with that in mind. If something is more and is the prefect gift, I move on to find the perfect gift in my price range. I buy seafood for Christmas dinner and baking supplies for 2-3 Christmas goodies/cookies. I should probably have a total budget and save for it throughout the year but I've never done it that way.
I paid the credit card today to the tune of $2300. We saved $500 in our investment account, $200 to the car fund, $1000 to regular savings and $500 for the beef purchase later this month. I actually have no idea how much the beef will cost, hoping less than $1000.
We finally for the bill for our property taxes, $2770 for the year with our property assessed at $240,000. It's worth about $100,000 more than the assessed value. I was complaining to Y about the amount and he reminded me that we used to pay $4800 annually for a house assessed at $175,000. OK, I guess $2770 isn't bad but I don't have that amount in the escrow savings account so I will need to dip into our regular savings.
I want to get a better grip on our finances. I don't like waiting until payday to just pay everything and call it good. I need to know where all of our money is going.
How do you budget for Christmas? Do you save a bit monthly?