My Budget is Busting

||#NoMoreStudentLoanDebt

I thought this was my budget:

Tithes $160 
Rent $410
Food $150
Hair $88
Utilities $125
Gas $100
Phone $150
C.L. $75
Household $25
Misc $10
Student Loan $50
Entertainment $25

TOTAL : $1368.00

My current side hustle covers these expenses (easily). I make about $400 a week working 3 evening shifts. Yes, I love love love serving which is why I do it.

I did not earn any revenue in my first quarter of business. During this time I create new products and prep for my busy lucrative 2nd & 3rd quarters

I say this to say, I live lean because I am entrepreneur and I can have a 20k month followed by a 0k month. I have a child (an now an adopted niece) so I’m incredibly conservative in my spending. My goal was to keep my budget under $1600 because I can make this amount of money with my eyes, close and my hands tied behind my back.

The problem is I got a little too comfortable working in the creative phase of my business. Meaning I have several wonderful products waiting in the pipeline that I’ve created but I’ve been waiting for the exact right time to release them. I’ve been waiting for a sign that it was time.

WELL the sign is clear, NOW is the time.

These products will be released soon enough and will support me in earning revenue during my 1st & 4th quarters moving forward.

Back to my busted budget. So I tracked my expenses for the month of March. I like for real, for real tracked my income and expenses and it turns out:

I earned $2360 this month from my side hustle and here’s the budgets I busted:

FOOD $150 vs. $416 =
GAS $100 vs $167
HOUSEHOLD $50.00 vs 113.96
MISC. $0.00 vs $34.09
CLOTHING $0.00 vs $20.95
Entertainment $0.00 vs $63.00

Obviously I ridiculously under estimated FOOD, ENTERTAINMENT, HOUSEHOLD, CLOTHING, MISC, & GAS. These 4 areas account for nearly 40% of my income.

I will reduce these expenses in the month of April I will adjust my budget to align with my realistic spending habits. No I won’t spend $416 on food next month but I will at least double what I thought I was spending.

What so interesting about sharing all this info publicly is that I feel like we are in this together. I feel super embarrassed but then again I’m like aren’t we all a little embarrassed about how we handle money. That’s why we get in debt and make silly decisions that keep us in debt. It’s totally the point to remove the veil and expose the truth.

Truth is, I can’t pay down my student loan debt in secret or private. It’s to hard to do the right thing and super easy to lie to myself about what I’m capable of. I don’t want that I just want NO MORE STUDENT LOAN DEBT

So my budget busted but next month you betta watch out because I’m well informed. Ready. & RUNNING.

#NoMoreStudentLoanDebt

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