30 Days of November, Day 20: Of Budgeting

My Top Four Goals included a couple of financial goals and so I have been trying to make a detailed plan on how to put those into action.

In addition, I am trying to control my purchases, balancing my wants with my needs and saving steadily towards things instead of giving into impulse purchases. Putting things down on paper has helped me get clarity and also forced me to prioritize; If I try to meet my main financial goals, it causes me to have to be more frugal other parts of my budget.

The main goal I have is to retire early. This requires me to save at least 21% of my income a year to Retirement. I currently have my budget named Recovery, set up in this way. This is a big chunk, and as it is in addition to my second financial goal of saving 15000 dollars; that goal requires 3% of my yearly income.

Ultimately, saving 24% of my gross represents 30% of my Net. The last finance book that I read advised that you save 50% of you income which is even more than that. I can't even imagine how I would construe my budget to fit that mandate, but I am willing to give it a try!

To help with that, I am taking a look at my wants. Here is a list of some thing in on my wish list and the moment.

1) Reusable pads and wipes
2) Glass Spice Jars
3) Essential Oil Diffuser and Oils
4) Birthday Lunch
5)Bath Cloth

My wishes are also to come in line with my plan to own less than 500 items because, I am trying not to add more clutter to my life. I also need to embark on a campaign to downsize what I already have to the minimum that is essential to maintain my life at the standard that makes me comfortable.

My final financial thought for the moment, is just to remind myself and others that the race to financial stability is a marathon. It is also a race in which the course you have to run can change dramatically at any moment. The key is to adopt good habits, and the breathe deeply when it gets hard, and push through. Also, don't forget to take in the scenery as you jog along.