3/12/2009

Managing your money...

I am a big fan of Gail Vaz Ozlade, and her show 'till debt do us part. One of the ways she encourages people to manage there money is to use her 'majic jar system'. Once the budget has been made, you can divide your variable expenses so that you have weekly amounts you can spend. She uses jars so people can see their money coming in and going. You also need a notebook to track every sent that you spend - it doesn't work unless you track it.

so using gails budgeting tools to help figure out my weekly amounts ( I used the budget numbers I posted preivously, but entered them into her spreadsheet. I also customized the sheet a bit to meet my needs - this is pretty easy if you are familiar at all with excel).

Below is a picture of the jar amounts I'm going to start using. I get paid next week, so I will start my jar system that week. This week, I will find the jars (going to try not to buy them) and a notebook to get organized.

I have hidden some of the fields, b/c I am not comfortable posting exactly how much I make. That said, if anyone needs help creating a sheet like this for themselves, I would be more than happy to send you something.

Related Posts:

  • Magic Jars UpdateI didn't post my bi-weekly budget last pay period because I had all sorts of financial stanfu's happen, culminating with my roomate paying rent four days late.  I am still using the jars and have about $40 left until nex… Read More
  • I am credit card debt free!...that's right, I am finallly credit card debt free!wow. I'm not sure I believed this day would actually come! I feel like in some way or another I have owed money on my credit card for the last five years or so. I've come… Read More
  • My Jars - an UpdateJason from Canadian Savings  asked me a couple of great questions on my recent payday post that relate to how I use the jar system. Question One: How long do the jar amounts have to last you? I budget bi-weekly. … Read More
  • Quick Update - Magic Jars are a goI set up my jars tonight, I only had $110 in cash on me (such a rarity), so I'll have to stop at the bank tomorrow after work to pick up the remaining $195 to top up my jars for the full two week allotment. I think this will … Read More
  • Coversations about MoneySo I just had the coolest conversation with my boss, ever!He uses the Jars.He made a comment about my open toe shoes, which we are not allowed to wear at work because it’s a health & safety concern. I said something about… Read More

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