Having lost part of my income due to COVID-19 I have had to reorganize my spending. It is amazing what we can do without! I looked over my miscellaneous spending and was amazed at how small amounts can add up. First I listed my new decreased income amount and then I subtracted the regular monthly bills and allowed so much for groceries. The balance was enlightening. I had a fax line I never used anymore, a TV company that had 125 channels, most of which I didn’t watch. I went to Roku! It was a time of reflection on what was important to me and what was not.
Once a week I work at a really nice thrift shop that is more like a boutique. Lots of nice clothing and other tempting items come in. It’s hard not to look around and see a pretty blouse, sweater, purse, or other item that is tempting. A little more will power needed! I had a garage sale to get rid of a lot of extra things I wasn’t using or needed, and then the remainder went to the Salvation Army, the Good Will and the thrift shop. I found that I could get more for an item by listing it on my donation receipt, using the government guidelines for pricing, and deducting it from my income tax than I could get from a garage sale where people want to offer next to nothing! At the end of the month, I compared what I spent in each category on my budget to the amounts actually spent. Hmmm. Eye opening. More self control needed. It’s a process, and the temptation to just pull out that credit card is very strong. The only thing is, with a debit card, I have to have money in the bank, and with the credit card, sooner or later, one has to pay the piper! A new year, and a new budget, time to get to work!
Reminder: I’m collecting e-mail addresses from anyone who may be interested in being a part of the series starting in January: Journey to the Inkwell, the Making of a Writer. You can contact me at email@example.com.