Having a personal cash flow statement helps me to organize me finances by allowing me to see where exactly my money is going. I can see the area in which I really do not have to spend as much. For instance, housing expenses and transportation would be the priority for me. As much as I love to go out to the movies, I would have to cut down on my entertainment expenses. The most interesting thing I learned about completing this worksheet was discovering that most of the time I am spending more than I actually earn a paycheck. I sometimes have to utilize other sources to help me cover my payments. Some of the ideas I did come up with about changing my budget are for one, not eating out so much. There are 8 mouths to feed in my home and eating out can be very expensive. Although we take turns on who will pay the bill, when it is my turn it really puts a dent on my expenses. I know that buying groceries can be cheaper, but with 8 people, 4 of them being children, the foods and snacks go pretty fast. I have also noticed that I do not have anything in savings or investments. I would like to start at least putting 20 dollars on the side every pay check for starters. That way I will have emergency money on the side. It is very hard living from paycheck to paycheck on a minimum wage. Sometimes I have to sacrifice going to the doctors or bringing my dog to the vet just to cut down expenses. I know that my health is important especially at my age, but with not so good insurance, my co pay is still high and I still have to pay part of the bill sometimes.
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