Saturday, August 31, 2013

budgets and bargains

Jon and I have officially semi-returned to the envelope system. We definitely use a modified version of Dave Ramsey's advice--we disagree that credit cards are the root of all evil, for instance--but we are giving the envelopes another shot.

This means we had to sit down and seriously re-evaluate our budget. One of the things we budgeted for each month was $10 to spend on clothes for Elden. This should be more than enough because 1) we normally don't buy him clothes each month so this money would "roll-over" to the next month for the occasional H&M splurge and 2) when we do buy him clothes, they are most often purchased at thrift or garage sales. Even though it's a day early, I used most of Elden's clothes budget for the month of September (we initiated the envelope system beginning in September so there was no August clothing budget) at a killer garage sale. The family had 4 boys ages newborn to four and I was shocked by the amount of stuff they had!
I bought: 1 pair of brand new Champion shoes, 4 pairs of socks ages 12-24 month, 2 cotton long-sleeve shirts, 1 nice button-down shirt, and 1 brand new (from Children's Place!) cardigan for $9! The best part of this purchase was I didn't feel guilty about it because we had planned on it and I knew that we definitely could afford it. I might dive into some of the specifics about how/what we budget in a later post, but given how personal finances can be it won't be in very specific terms.

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