Money Mondays, Gathering Time 2
How did last week's task go? Did it shock you? Were you satisfied? We will continue on the task on gathering and take a look at the cable bill, phone bill, cell phone bill and other entertainment bills. Don't forget money spent on books, CDs, DVDs, Apps, and movie tickets. When I was completing the budget for September, I asked Mr. Mind was there anything I have forgotten and he said yeah "Red Box and Xbox". He spends an extra $8 a month on entertainment that I never knew about. So please check with your spouse and children for bills you didn't realize that you were paying! Sneaky people...
Entertainment bills are important as they are the most expensive bills outside of mortgage/rent. Knowing this number is important because this is the most suggested area to begin with when cutting costs. When you total up monthly entertainment expenses, do you need to cut back? If so, evaluate each bill separately. Compromise on every piece. Mr. Mind gets his cable package from August to March because of football. In March, we cut back drastically and save the difference for the next 5 or so months. Every year, I change the phone bill and save where needed. I have a well used library card for books, CDs, and DVDs. Movie tickets and Apps are reserved for once a month and it has to be the best one on the market! There isn't any "roll over" entertainment dollars either. Meaning, we either go to the movies this month or the money is spent on something else.
Depending on your love or your spouse's love for entertainment, this subject can be sticky at best. Do not be afraid to table the discussion and revisit it OFTEN. You must come to a comfortable and affordable bottom line even if someone feels "less entertained" than the other.
Please return next week for part 3, utilities!
From Maruki
Entertainment bills are important as they are the most expensive bills outside of mortgage/rent. Knowing this number is important because this is the most suggested area to begin with when cutting costs. When you total up monthly entertainment expenses, do you need to cut back? If so, evaluate each bill separately. Compromise on every piece. Mr. Mind gets his cable package from August to March because of football. In March, we cut back drastically and save the difference for the next 5 or so months. Every year, I change the phone bill and save where needed. I have a well used library card for books, CDs, and DVDs. Movie tickets and Apps are reserved for once a month and it has to be the best one on the market! There isn't any "roll over" entertainment dollars either. Meaning, we either go to the movies this month or the money is spent on something else.
Depending on your love or your spouse's love for entertainment, this subject can be sticky at best. Do not be afraid to table the discussion and revisit it OFTEN. You must come to a comfortable and affordable bottom line even if someone feels "less entertained" than the other.
Please return next week for part 3, utilities!
From Maruki
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