It sure is fun receiving a Regular Income, albeit a small one, in place of the boom-and-bust of Intermittent Consulting Projects. Part of the fun is being able to Budget and stick to the budget.
Part of the challenge (which is fun too) is setting goals, working towards them, and reaching them.
I have two goals right now: One is to consolidate my savings for a trip to the IlÍ de France this autumn, the other is to continue on my Weight Loss trip.
The killer, so to speak, is when ice-cream is on special at one of the five supermarkets that surround me. Especially as the weekend approaches (Iíve been a good boy this week) and the Chequing Account is Balanced (Iíve been a good boy) and the floors have been vacumned and mopped (Iíve been a good boy) and the laundry done (Iíve been a good boy) and the meat pies baked ...
I have a gimmick; it is called a Deposit Envelope. I stole one from an ATM cubicle.
My banknotes in hand at the start of this month total $540. That is roughly $20 a day until the end of the month. If I spend not more than $20 a day this month Iíll not have to withdraw more cash.
Easy-peasey. There is no way I can spend $540 in a month.
But how can I use a deposit envelope to give myself a Better Holiday six months from now AND Lose Another Pound by the end of this week?
At the start of the day I place a $20 note in my wallet. At the end of the day I place whatever is left of my $20 note (often enough $20!) in the deposit envelope.
When I see ice-cream on special, the thought of NOT dropping todayís $20 in the deposit envelope comes to mind, as does the thought of dropping todayís $20 in the deposit envelope That helps me swerve away from the supermarket entrance.
At the end of the day I drop the $20 in the deposit envelope and feel good as I retire for the night. Tomorrow morning Iíll take another $20 note from my stash and put it in my wallet and, reinforced by last nightís good feelings (ďIt CAN be done!Ē) I will avoid needless purchases in keen anticipation of the good feeling before going to bed.