Hey, FitnanceIQ family so here’s a review of my first week.
Week 1 of my challenge was going so well!! In 7 days:
- I managed to attend a Women’s entrepreneurship conference
- Went to football practice
- Watched Wonder Woman
- Had a football game
- Went to a BBQ
- Went to the gym
- Went to my volunteer
- Went to a doctor’s appointment.
However, instead of being within $30-50 this week I spent $69.33 (in variable cost)
Kamille how did you go over your original budget?!?!
Let me show the table.
So the transportation is actually what made me go over my budget this week (but it was considered a business expense).I went over by $19.33 but it was due to an emergency and I had no choice but to take a taxi. This is just a friendly reminder that life happens and things that are out of your control, have the potential to affect your budgets. In theory, I didn’t succeed this week but I definitely know what to do for next week.
But if you are wondering how I managed to do all those activities and not overspend by more than $20. I’ll let you in on my secret!!!
- I attended the women’s entrepreneurship conference downtown Toronto. So since my dad works in just outside of downtown region I decided to grab a ride with him and walked the rest of the way to the conference (#cardio). I was very lucky it did not rain that day. But if you don’t like walking for quite a distance, then try biking around. DO. NOT. DEPEND. ON UBER!!!! Uber is an excellent way for your money to disappear quickly. Also, the conference had a free lunch so that’s a plus when attending a conference for your business. However, if they do not provide lunch, try bringing your own food from home…
- So watching Wonder Woman was absolutely free! Instead of spending about $25 for the VIP section I decided to use my scene points I’ve accumulated from all the times going to the movies. As of late I normally watch movies at home with my family or friends (Thank you Netflix). But I couldn’t resist getting popcorn though (my guilty pleasure); however, I. DO. NOT! Let me repeat I do not recommend doing VIP if you are trying to be cost-efficient! To stay within the budget you have to make some sacrifices. Best day to go to the movies is normally on Tuesdays (half off price). Also is if you insist on catching a movie in the night or evening, then please visit Rainbow Cinema , where tickets average $10 and $5 on a Tuesday. If not, there’s always watching the movies at home in the comfort of your home.
- Since I was working from home, I didn’t have to depend on travelling as much. That is why I considered it as a variable cost for the time being. But will be switched back to fixed cost soon. However, I managed to do well with travelling around Toronto. Most times I was either getting a ride from my Dad, Brother or friends or simply staying home unless I had a meeting. When it comes to Transportation I suggest either using tokens or getting the presto card if you just go from point A to Point B (especially working downtown). But if you are a frequent traveller then getting a monthly pass, which is available on the presto card as well too!!! To my car users, it just all about budgeting your gas throughout the week. Some will have to buy gas often, some not as much. Carpooling is an amazing way to cut back on the price of gas.
So has anyone tried this challenge? If $30-50 is too difficult try $50-70. The main goal is not to go over your budget by $50 +; also I suggest you do it by taking the money out from the beginning of the week and keep your receipts. If you have enough discipline then you can do it be a debit card, but make sure you have online banking on your phone to keep track every day!!
Stay tuned for week 2!!!