Frugal Honey

Debt Management

Quick Thoughts on Fudget

I once tracked my income and spending through a very old-school pen and paper method. I liked the whole exercise of jotting down every single one of my expenses because it made me accountable for my spending and my OC self liked seeing my expenses on a daily basis (it was sort of like a diary but without the teenage angst). But what I didn’t like was tallying all those items up at the end of the month. It was just too much of a hassle to go over each and every line and then tally them per category.

I became to dread the monthly tallies so much that I once went for 5 months without summarizing my monthly expenses. Sure, I continued to jot down my daily expenses but all of that raw data was useless without a summary. Eventually, I gave it all up, reasoning to myself that I pretty much knew our budget so there was really no need to go on a cellular level.

However, ever since my husband began tallying his own income and expenses using Google spreadsheets, I began to miss the nerdiness of listing down expenses vis-a-vis income. I knew I enjoyed taking note of my spending but I just did not like the end of the month round-ups.

So feeling like a millennial, I searched for an app that would satisfy my needs. I wanted an app that was just a step or two up from the basic pen and per method, but would generate monthly reports. No bells and whistles please, my tita brain refuses to process anything more than what I know I need.

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The Happiest Time of the Year is Almost Here! (A Debt Update Post)

That’s right boys and girls, end of year bonuses will soon be upon us! Wheeeee!

You can feel the magic in the air and see the twinkle in everyone’s eyes because when you’re a working stiff like most of us are, receiving a month (or two!) of your salary as a bonus is the thing dreams are made of.

While the impulse would be to spend a huge chunk or all of your bonus to celebrate Christmas, I personally see my upcoming windfalls as the best way to make 2018 easier by allocating majority of it towards debt payment. This year has been financially taxing, but with the careful allocation of this year’s bonuses, I can make sure that 2018 will not be as financially difficult and will be the year I shift my efforts from mostly Debt Payment to Security/Safety.

And on that note, here’s where I currently stand when it comes to non-mortgage debts:

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What’s Up, Metrobank?

I’ve had a Metrobank checking account for almost ten (10) years so I’ve received a few credit card offers through the years. But yesterday’s cold call was too bizarre not to blog about.

It started innocuously enough:

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Budgeting My Way to Being Debt-Free

Budgets come in all sorts of variants and permutations, but the best type of budget is the one that actually works for you.

The strictest budget that I know of is the zero-sum budget. With it, you have to “spend” every cent you make or to be more precise, you give every cent you make a job to do since money that isn’t allotted will only be spent mindlessly. My preferred budget though is the anti-budget by Paula Pant of Afford Anything where you save/invest a pre-determined percent of your income per month. It pretty much goes like this: take out money, save/invest accordingly, and spend the remainder of your monthly income as you please. Easy peasy.

Unfortunately, it will take me a while before I can use the anti-budget since I still have consumer and mortgage debts to deal with, necessitating that I micro-manage my money until I can completely wipe out my debt.

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