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My Budget: Last Week of January

Today is Payday! At least around here, it is. I set up Shopify so that I would get weekly deposits on Fridays because the constant deposits made it VERY difficult to track my finances and I found that I was saying that the money “doesn’t count” because it didn’t feel like a paycheck and there were expenses that needed to be taken out for products and such. Do you do that with money? Say it doesn’t count for some reason… like you can’t use it or pay for anything with it? So I started Friday deposits.

This week I am budgeting using only the income from my part time job. Why? Well I didn’t want you to think that I am accomplishing big things with my other forms of income. If I am being honest all of this gets put aside to pay for medical debt. It does nothing else.

So the only income that I am sharing is the paycheck i get from my part time job. I will not always share the numbers with you but I felt like especially for this first exercise I would share actually numbers and the also percentages.

Total Income $495.00

This money needs to cover the bills I have until February 12 when I get paid again. Things I feel like I need to clarify in advance. 1. I give my boyfriends money every month to cover stuff that aren’t on my list of things to handle. This is a set amount in my head and there is flexibility in when this happens because I am a month ahead on that.


This is one bill that I just pay and it is done. I know the numbers in advance within $5.00.

  • Prescription: $8.00 (1%)
    • This is a 30 day supply of medicine so even if it doesn’t need to be refilled because my dosing changes so frequently. I just get it refilled. I would rather have more on hand than not enough.
  • Apple Mastercard: $70.00 (14%)
    • At 0% interest for 24 months I just pay the minimum while I work on other debts
  • Phone Bill: $90.00 (18%)
    • I use cricket wireless for 3 phone lines with unlimited data. By adding my mom and B to the plan they were able to save $100/mo. I don’t pay for the protection through cricket because I pay this bill using a credit card. You may want to check your credit cards to see if they provide better or the same amount of protection just by paying your bill with the card. I saved money doing that as well.
  • Discover Card: $81.00 (16%)
    • This is just the minimum payment. I am doing the avalanche method so this is not the priority card for me but from time to time you may see extra payments on this account.
  • Quickbooks: $35.00 (7%)
    • I use QuickBooks because I am self-employed and it is so much easier to be able to file quarterly and file taxes using TurboTax. This is an expense that I looked into pay for annually and it just isn’t an option.
  • Adobe: $10.00 (2%)
    • I could pay this annually but it doesn’t save me any money to do such.
  • Giftcard: $25.00 (5%)
    • I am putting money aside to do a thank you surprise add-in with some orders during Valentine’s Day weekend.


These are expenses you do regularly but the price changes so frequently. Each envelope is money that I will need during these two weeks. I do plan that this money will need to last me two weeks but you might find me restocking the envelopes next Friday. This is because I have the ability to pull from my Shopify income if I really need to… I just don’t typically.

  • Spending: $60.00 (12%)
    • If there isn’t a line for it on Bills or it doesn’t fit into a sinking fund it comes out of this budget. I went super detailed with my budget except for the envelopes and I am actually debating having an envelope for food and an envelope for spending. You may notice that I don’t have a grocery budget. This is because I don’t buy the groceries or do the cooking and it was an issue place so B does all that stuff when he needs to do it. We’ve learned I am the big picture person and he is the day-to-day manager.
  • Gasoline: $40.00 (8%)
    • The place I work is about 3 miles from home. I am typically driving between 150-300 miles a week. It depends if I have bloodwork or go visit my mom for a day or two.
  • Medical: $30.00 (6%)
    • This envelope covered a variety of different treatments. None of them are covered by insurance. Eventually, after a few other things are funded, I would like to go to a week-long intensive program so the amount going in may vary every time I budget.
  • Cushion: $0.00
    • Every one of my accounts has a $100.00 cushion. I would like to see them all at $500.00 once I am credit card debt-free. This cushion gives me peace of mind when an unexpected expense comes out of the account… like if I used the wrong debit card for some reason.

Sinking Funds

I think of sinking funds as a place to hold your money for a short amount of time. This may be 3 months to 3 years. These can include annual payments for things, Birthdays, Christmas, A New Car, bi-annual car insurance, a new house.

  • Shopify Shipping Costs: $0.00
    • This will comes out of my Shopify balance. There is no number to deposit into this sinking fund because all the shipping costs were calculated and in January’s bill which came out of the account yesterday.
  • Taxes: $0.00
    • Typically I put 10-20% away for taxes. I overpaid taxes and was told I have a balance that I can use for the next quarter. I also have enough money in this taxes fund to cover all the quarterly taxes for April so I am cutting myself some wiggle room in other places
  • Robinhood: $25.00 (5%)
    • I try to put $25.00 towards Robinhood once a month.t. I only started because I felt like I had to start somewhere in investing, depositing $50.00, and earned a free stock. This isn’t something I do constantly. Mostly I invest for the dividends. I just did a lot of research on dividends. Dividends are like a thank you for holding your money in our stock! If you want to get started I put my referral link above and we both get one free stock when you get started.
  • Monthly Challenges: $21.00 (4%)
    • I do a number of monthly challenges that I can talk about. Depending on the flexibility in my budget. If I have a lot of flexibility because sometimes unexpected came in I will do a whole bunch of them or I will double fund a different sinking fund or double fund a credit card payment (usually a CC payment) at the end of the month I choose where this whole fund will go…. fully funding a sinking fund or an extra debt payment usually win over anything else.
    • Also if my envelopes have any extra funds when I do my next budget next Friday I will move the amount to monthly challenges.

Alright! Thats the budget!

It may seem like a lot to keep track of but I found that just sitting down for the 30 minutes to figure it out is less stressful than always wondering where my money went and what I spent it on and standing in the constant debt cycle because I didn’t have time. My goal personally and in business is to be debt-free and it may be crazy but moving forward I will be doing just % of my total income rather than numbers.

I don’t mind sharing the total income I make from all streams of income but moving forward it gets more difficult. Contractually I usually can’t share many of my streams and I’ve realized my numbers don’t actually matter big picture because it is my personal budget. When you do yours just do what makes sense for you. Your priorities to living your first class life are probably very different than mine which results in your budget looking very different as well.

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