Time to explore next step in budget

I have always worked with detailed budget, watched every rupee coming in and going out of my system.

Now with a baby in picture, that is just too time consuming.

From last so many days I am working on seeing where my time is going and what all I can cut back to save on TIME.

And I know too much detailed budgeting is one thing which eats up time that I should free.

So finally, I am writing this post and ACCEPTING that it's time to change.

After exploring lots of things I have decided that I need to come up with something similar to balanced money formula as preached by JD Roth of Get Rich Slowly.

His exact formula is something like

     30% wants

     20% savings

     50% needs.

I have to come up with something similar.

I am going to come up with my own balanced money formula by November.

(This is because I am joining my job only on coming Monday which means no pay cheque at end of september also.)

If you have any suggestions on this, please let me know.

Every rupee saved is a rupee that earns 6%

This is my favorite line now a days.

I totally love all the advertisements of kotak bank on this theme.

• Save on petrol and that saved money is the money that is earning 6%.

• Save on eating out and earn 6% on your saved money.

• Even when you are spending, use their debit card and earn cash back which is then going to earn 6% for you.

If that doesn’t motivates you to save, I don’t know what else will.

P.S. I still don’t have any account with kotak bank. Go figure out!
 

2012 Goals Tracking - August End

These are my goals for 2012.
Health:
1H) Aim to get back to my pre-preg day’s weight.

Financial:
Goals to work on once I join back my job
1F) I want to bring our mortgage to such an extent where my house can service itself.
2F) Maintain my EF as 3 months of expenses.
3F) If I can save for retirement as much as I did in 2010, that will be a good punch to future expenses.

Newly Added(missed in setting goals but was always there in my mind)
Goals to work on till I am on leave (unpaid and would be bonus if can be continued even when I join back)
4F) Manage our all monthly expenses within my DH's salary.


Personal :
1P) To start the habit of getting up at 6:00 in the morning.
2P) I think one of the most vague yet most important goals is to maintain a WORK-LIFE balance once I join back my job.

It's August end and let's see how am I fairing in these goals.

Over to tracking now:

Goal 1H - Bringing my weight and stamina to pre-preg days - FAIL. I still have my weight lingering at 2KGs above my pre-preg days. But its not that unhealthy given I was underweight a little earlier. Now I need to work badly on my stamina because there are some days that want me to cry. :(

Goal 1F - Bringing down mortgage - NA Yet. No more applicable actually as must have been clear from my March update. I did some changes in my long term savings and hence ended with some extra money in bank. We did some calculations and decided that we want to prepay our mortgage# 2 with that money. Bad news is I can't do that until end of september. I am going to do same after september ends for sure.

Goal 2F - Having EF as 3 months of living Expenses - FAIL. No Salary for mamma and 3 birthdays, all 3 of us, in this month means no room for savings.

Goal 3F - Save for Retirement - FAIL.

Goal 4F - Survive on DH's salary alone- FAIL. Same as 2F

Goal 1P- Getting up early - FAIL. With no job to goto, I am back to my pre-marriage days bad bad habit. I goto bed late and get up late. My BAD.

Goal 2P- Having a balanced life - FAIL. Well I was searching for job. That with baby was my only priority. Rest all, cooking at home, savings and everything else went out the window. But Good part is I got a job, which I am going to start 17th of September.
This was about me. How was your August?

Recap
January

February

March

April
May
June
July
 

2012 Goals Tracking - July End

I missed doing my monthly reviews for past couple of months. Will let you know why, but for now here is my July review.

These are my goals for 2012.
Health:
1H) Aim to get back to my pre-preg day’s weight.

Financial:
Goals to work on once I join back my job
1F) I want to bring our mortgage to such an extent where my house can service itself.
2F) Maintain my EF as 3 months of expenses.
3F) If I can save for retirement as much as I did in 2010, that will be a good punch to future expenses.

Newly Added(missed in setting goals but was always there in my mind)
Goals to work on till I am on leave (unpaid and would be bonus if can be continued even when I join back)
4F) Manage our all monthly expenses within my DH's salary.


Personal :
1P) To start the habit of getting up at 6:00 in the morning.
2P) I think one of the most vague yet most important goals is to maintain a WORK-LIFE balance once I join back my job.

It's July end and let's see how am I fairing in these goals.

Over to tracking now:

Goal 1H - Bringing my weight and stamina to pre-preg days - NO Clue. I don't even remember where I stood at the end of July.

Goal 1F - Bringing down mortgage - NA Yet. No more applicable actually as must have been clear from my March update.
Goal 2F - Having EF as 3 months of living Expenses - PASS. Ontrack for the first time in this year on this goal. YIPPEEE
Goal 3F - Save for Retirement - PASS.
Goal 4F - Survive on DH's salary alone- PASS. Cheating. My husband got his bonus, hence, again for the first time this year, I cracked even this one. ;)

Goal 1P- Getting up early - PASS. I got up between 7:00 AM to 7:30 AM almost all weekdays.
Goal 2P- Having a balanced life - Not Sure. Yes. I had a tiff with my manager and I quit my job in middle of month. Well I am known to work on my terms and conditions. Don't get me wrong. I have always got feedback that I am very professional and thorough with my work. I always expect basic respect in a job. Thats how I treat even my domestic help. Hence I quit and started another job search.

This was about me. How was your July? Well too late to ask this. :(

Recap
January

February

March

April
May
June
 

2012 Goals Tracking - June End

I missed doing my monthly reviews for past couple of months. Will let you know why, but  for now here is my June review.

These are my goals for 2012.
Health:
1H) Aim to get back to my pre-preg day’s weight.

Financial:
Goals to work on once I join back my job
1F) I want to bring our mortgage to such an extent where my house can service itself.
2F) Maintain my EF as 3 months of expenses.
3F) If I can save for retirement as much as I did in 2010, that will be a good punch to future expenses.

Newly Added(missed in setting goals but was always there in my mind)
Goals to work on till I am on leave (unpaid and would be bonus if can be continued even when I join back)
4F) Manage our all monthly expenses within my DH's salary.


Personal :
1P) To start the habit of getting up at 6:00 in the morning.
2P) I think one of the most vague yet most important goals is to maintain a WORK-LIFE balance once I join back my job.

It's June end and let's see how am I fairing in these goals.

Over to tracking now:

Goal 1H - Bringing my weight and stamina to pre-preg days - NO Clue. I don't even remeber where I stood at the end of June.

Goal 1F - Bringing down mortgage - NA Yet. No more applicable actually as must have been clear from my March update.
Goal 2F - Having EF as 3 months of living Expenses - FAIL. No explanation.
Goal 3F - Save for Retirement - PASS.
Goal 4F - Survive on DH's salary alone- FAIL. This year I am doomed to fail everywhere finance. :(

Goal 1P- Getting up early - PASS. I got up between 7:00 AM to 7:30 AM almost all weekdays.
Goal 2P- Having a balanced life - PASS.

This was about me. How was your June? Well too late to ask this. :(

Recap
January

February

March

April
May

Just Married Please Excuse - Review

Just Married Please Excuse

Just Married Please Excuse

This book is written by one of the regular bloggers who blogs on “Y On Earth Not”.

If you are newly married, or you are a new mother then do spend some time and read this book. Book will not only make you laugh, but you will also get answers for lots of your apprehensions.

I especially liked her description of life after baby is born. All the pampering’s plus all feel-good-na-best hormones of last 9 months all of the sudden go out of door. You will start having doubts whether you were only used to produce a baby. Well, book will convince you for sure that all of us feel something similar and will make you laugh on same.

Yes book is funny but more than that its REAL. For me it answered all my apprehensions of life after baby. I am sure for some of you it will answer apprehensions about marriage.

One of the rare books I am going to recommend to all my friends esp. in these phases of life. Already gifted to my 2 friends who have just become mother.

P.S. Thanks Yashodra for gifting me same. It certainly makes it all the more special. I was anyhow looking for this book and would have liked it even otherwise.