Budgetting for the next few years
Starting on July 1st, I have laid a budget, that I am going to adhere by. I made a spreadsheet, where I wrote my income and my expenditures, and when all is said and done, I will have money left. That's the benefit of moving to a place where I know my rent in advance. Where I have a flat fee to pay. I also came to realize, that I have too many streaming services. I spend $109 a month just on streaming. I need to look into cutting down on them.. But I need them all.. I might just keep them all, actually. They are pretty handy to have, and I will not run out of content anytime soon.Now it's time for some money stuff! The biggest post I have, apart from rent, is my food budget. A massive $196 in total each month. What can I say, I am a foodie.. I am always looking for ways to improve my cooking.. Anyway.. I have three expensive months, and nine "cheap" months. The expensive months, I spend $1244, and on the "cheap months, I spend $1211. I get $1474 each month, so when all is paid, and I have put some money into savings, I will still have money left over. That's a first for me, since I used to spend all my money in 14 days.. Sometimes 7 days.. When I moved to Scotland, I got the biggest reality check ever, which I needed. Since then, I have been managing my money. Rarely have I fallen behind on bills, and it's almost six years ago since I came back home.
Speaking of saving up money.. My dream is to own a house. It doesn't matter where it is, as long as it's mine. Or maybe just an apartment somewhere. Apartments are cheaper than houses anyway.. But I would like to own some property one day. I am thinking with my trucking job, I can save up even more than I am now, because if I don't change my spending habits, I can comfortably send almost triple into my savings than what I do now.
But we'll see what happens. Right now, I plan to hold my budget for three years, minimum. I am sure it's doable!
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Ooby: I put them in a savings account.. Well.. I transfer them to my mother, who is keeping them for me. If I need some money from it, I have to ask my mother to transfer them to my account. I don't earn any interest on the savings at the moment. One of these days, I am going to open up a proper savings account and transfer the money there.
0.04% APY
According to the FDIC, the national average interest rate on savings accounts currently stands at 0.04% APY. This applies to both average and jumbo deposits (balances over $100,000).Apr 8, 2021
So, if you put $1000 into a savings acct in 1 year you will have earned $40.00. Hardly seems worth it. There are much better places to put that money.
One or max two would do. Stocks? Fonds? Bitcoin?