Tag: budgeting

  • Living on a Budget – A New Chapter

    Right now, I am living on a budget, and I need to think carefully about how I spend my money.

    After a year of illness — and yes, I am still sick and undergoing medical evaluation — I am now receiving health-related financial support while I am unable to work.

    My income has been reduced by about 34%.

    I used to receive a monthly salary, but from now on I will receive benefits every two weeks.

    I have lived with very little before, so I am not too worried. Things tend to work themselves out, and I know how to make the most of what I have.

    Life sometimes takes unexpected turns, and I am learning to adjust to that 🩷

    My biggest monthly expenses

    My biggest expenses are housing and food.

    I pay about $1,470 / €1,350 in rent each month, and that includes electricity and internet. The rent is actually reasonable compared to other apartments in my area.

    I am still trying to get a clear overview of how much I spend on food, but I think it is around $380 / €350 per month.

    I also pay for phone plans for myself and my youngest daughter, who is a student.

    I have insurance, a loan I am paying down, and a few subscriptions — like a gym membership, Netflix, YouTube, Spotify and iCloud.

    I want to take a closer look at my expenses and see if I really need to pay $12 / €11 per month for iCloud.

    I will also check if it might be possible to reduce my loan payments for a while, if I ever feel the need to.

    Since last autumn, I have known that my health situation might lead to a period where I would not be able to work.

    Because of that, I decided to sell my car.

    I sold it in November and put the money into savings.

    It always feels good to have some money set aside in case something unexpected happens 💰🩷

    A closer look at my monthly finances

    Over the past couple of months, I have started writing down everything I spend money on. It has helped me see where my money actually goes.

    This is what my finances looked like in January and February.

    January

    Income: $3,270 / €3,000

    Expenses

    Fixed expenses: $2,110 / €1,930
    Groceries: $430 / €395
    Public transport: $67 / €62

    Doctor / medication: $124 / €114

    Clothes: $89 / €81
    Skin & hair care: $244 / €224
    Hobbies: $22 / €20

    Coffee / restaurant: $6 / €5
    Other expenses: $265 / €243

    Savings: $57 / €52

    February

    Income: $2,930 / €2,680

    Expenses
    Fixed expenses: $1,935 / €1,770
    Groceries: $570 / €522

    Public transport: $74 / €68
    Doctor / medication: $82 / €75

    Clothes: $32 / €30
    Skin & hair care: $249 / €229

    Hobbies: 0

    Coffee / restaurant: $30 / €28

    Other expenses: $378 / €347

    Savings: $28 / €26

    What surprised me the most when I looked at these numbers is how much of my money goes toward food — but food is expensive.

    Eating well is important to me, so it is one of the areas where I try to be careful without cutting too much.

    Clean, protein-rich food has been part of my lifestyle for many years, and because I have IBS I also have to be mindful of what I eat.

    Looking ahead

    Later this year, I will receive holiday pay from last year, around $4,750 / €4,350.

    Even though I dream about taking a small trip to Italy, most of that money will go into savings.

    I would also like to buy myself a bicycle

    I don’t have many things I can sell to earn extra money, but I do try to sell things I no longer use — I will share more about that later.

    Dreams for the future

    One of my dreams for the future is to start something of my own that I can earn money from — and of course, to win the lottery.

    My son and I often have the most creative conversations about what we would do if we won the jackpot.

    He wants a house with a huge piece of land, big enough to have his own model airplane runway.

    And I dream of a house of my own with little details like a pink KitchenAid mixer, a white and grey marble kitchen countertop — and of course, a view of the sunset.

    Do you live on a budget too?

    I would love to hear your tips — or even your dreams.

    I am not afraid of a period with less money. I don’t see it as something negative, but rather as a positive challenge🩷

    I know that God takes care of me, and that somehow there will always be “money in my pockets.”

    Love,

    Fiffibelle 🌼

    P.S. I will share another update on my finances in a month or two ☺️