We are doing things a little bit differently this coming year so that we can keep our eye targeted on the budget and not overspend. We have an expensive item that we are saving for so overspending is OUT!
As I told you in a prior post, we are budgeting $75. per week for the two of us for food, cleaning supplies, HBA, and plastic and food saver baggies. We have used this food budget the past couple of months and it is working well.
So then we talked about how much should we spend on allowances( more on that in a moment), hair salon appointments, home decor ( little things, not furniture or flooring), clothing, car washes, etc.
Basically these are items that we have some control over and that fluctuate from time to time. As far as allowances are concerned, we don’t really use an allowance system. If we need to spend money, we just do it. So no allowances for 2018 for us.
Hair salon appointments have gotten out of control. I spend on average $ 110. to $140. a month on my hair. I have haircuts, color, and highlights every month/or every other month. Yes, it is a high end salon in our area and it is a luxury I enjoy. It also saves me from making a mess in my home when I am coloring my own hair. However when I realized that this works out to $ 1320. to $ 1680. per year just for me, I was aghast. I didn’t realize how expensive it was until I looked at the annual amount. Hubby spends $15. per month on his haircut or $ 180. per year.
So I am going to try to go longer between haircuts. Perhaps that will be 6-8 weeks. I am also considering going back to coloring my own hair and forgetting about the highlights. I hate the idea but I also hate the idea of spending that much money at the salon every year.
Home decor are the little things like pillows, plants, candles, etc. that we bring home to add something new to the decor. These can add up fast if we don’t pay attention. Since I don’t like a lot of decorative things that I have to dust and maintain, I am pretty minimalist in this area.
Hubby and I have all the clothes we need so we just replace things as they wear out or as we go down in sizes. I have to get some new pants soon. You should have seen me trying to keep my slacks up in the market the other day. I needed a belt. That is when I realized I had to go down a size. So I will be hitting the consignment store for a few new to me pairs. I don’t want to buy anything expensive because I plan on losing more weight.
It will also cover all of the little things like stopping for a car wash, paying for dry cleaning, the little things we buy at the gas station store, a magazine we want, etc. You get the idea.
So after lots of conversation and deciding what this would cover, we are going to spend no more than $100. per week in this category. We believe that $ 5200. per year is more than plenty for this spending.
So these are two categories that we have decided in our 2018 budget. We will be doing our best to stick to them and reporting it to you to keep us accountable.
How are you doing setting your 2018 budget? If you have never set a budget before, take a look at your spending for 2017 and set a reasonable one. When you don’t know what you are spending that is when you get into trouble. I have heard from so many people that they didn’t realize they were spending $10,000. to $20,000. more per year than their income until they tracked it. They said no wonder we had so much credit card debt. It is a lot easier to track your income and expenses every year than it is so be stressed out and wondering how you are going to pay those credit card bills. Pay off the debt, don’t add another dime to it and you will see how nice it is to be debt free and saving for emergencies and things you want.
More to come soon.
16 replies on “A New Budget for 2018”
My hairdresser is injured and obviously not going to work anymore. So, I cut my bangs and front of hair. I do color my hair at home, too. I made a mess at first and now I never make a mess at all. I remove things from the bathroom or put them across the room. I put a towel down and over things I cannot remove. The mess is nil now. Watch me made a huge mess now.
Did you ever consider not buying clothes that need dry cleaning? Rotate accessories and plants and not buy? Not buying in gas station store?
You have done a great job in realizing what you spend on each week. Wish I were losing weight and needing new pants…lol. Good job.
Hi Practical Parsimony,
Thanks for those tips. My counter top is such that everything stains it. I got hair color on it nad it took me forever to get it off.
I don't buy anything that needs dry cleaning except my winter coats. I do dry clean some throw rugs though. I always rotate accessories. So hardly any of that many will go for those items.
I don't buy at the gas station unless we are traveling.
Thanks for your comments.
Do you have a beauty school in your town or near to you? They do haircuts, coloring and highlighting very inexpensively. You do have a student working on your hair, but a teacher is there every step of the way to make sure that everything is done correctly.
I don't know if we do. I will have to check into that. Thanks for the tip.
I thought I posted a comment. ???
You did. It went to spam for some reason.
My hubby and I need to sit down and run the numbers here soon. Our home will be paid off in March and we have other debt that we would like to really hit hard, including the credit card bill which has been used way too much lately.
Good luck with your budget! Congrats on paying off your home this march. That is a wonderful accomplishment!
Hi Liz, this is Chris. I am starting to work on the budget for next year. Hubby recently got a raise, so I had him put all the raise in his 401K. We are still diligently working on paying off our mortgage. We decided next year we are going to be in savings mode, we are saving to re-do our master bathroom and I know it will take several years to do. If we have any emergencies, they can be handled by our emergency or life happens funds.
Way to go on increasing your 401K. I am rooting for you to pay that mortgage off. Enjoy saving for that master bathroom fund too.
I will be in savings mode all of 2018 also.
We are definitely in budget-mode. Our biggest budget goal was setting a minimum as to how much debt we want to conquer in 2018.
Hi a Dime at a Time,
Good luck with the debt. It is definitely a worthy goal!
I saw your monthly expense at the salon and t seems alot of women just spend like that. My neighbor spends $140 every few weeks and her hair really does not look good, my sister in law does as well and some of her haircuts have been horrible. She was on a rant at Thanksgiving about how terrible her hairdresser cut her hair, I suggested she find another and she said they all do the same, it doesn’t matter.
Thankfully I don’t do the salon route anymore. My husband has been cutting my hair for me since we first started dating and after the first time he cut it for me, no one else has been allowed to touch it. We have a routine, every 6-8 weeks we set aside the time, he pours me a glass of wine, has his tools set up, I take a seat, he capes me, combs out my hair as I sip the wine. It is so relaxing I could fall asleep as the comb strokes my back. He then s ctions it pins it up, then trims my ends to remove splits and keep them nicely shaped. He always does a great job, and when the greys started showing he became my colorist. We went the henna route as the box dyes contain toic industrial chemicals that not only destroy your hair, but cause cancer.
The henna deep conditions my hair, it leaves it soft, silky, with great color and shine. Not only do I get great looking hair, but my costs are low, about $75 a year for the henna and haircuts are free. I bought a set of wahl clippers a few years back, and hubby gives the boys their monthly haircuts as well. Well groomed, not shaved bald, I hate the skin head look. There are so many good hair tutorials on youtube to learn from, but alot that are ridiculous. Anything that involves putting your hair in a ponytail before cutting it just gives bad results when you try to saw through so much hair at once. I figure Having hubby do my hair and my childrens’ haircuts saves me over a thousand a year. Definitely a savings that is worth learning how to do properly and frankly I don’t have the time to waste half a day at the salon every month, letvalone the expense.
You are so lucky that Hubby can cut your hair. Mine used to too but can't anymore due to his health.
It took me years to find a hairdresser that I actually love the way she cuts my hair. Everyone loves it. I get constantly asked who cuts my hair and told how beautiful it looks. It's one of my only luxuries and one that I will not give up even if I have to stretch the time between visits out.
I would hate o cut back on my hair care. I probably spend about 800 dollars a year on highlights and hair cuts. And then there is the pedicures…. sigh….. can't let those go either.
I know it is hard to do it.