How's Your Budget?

1. Do you currently live within your financial means (meaning you are consistently spending at or below your monthly income?) What factors contribute to your answer? That's a tough one...Probably depends on the month. This month I'm not doing so good. I've had a lot of unexpected expenses that have popped up and I have a very finite budget since I'm currently living on my financial aid from school. I consider it a good month when I don't have to pull out my credit card to pay for things.

2. What luxuries, if any, do you allow yourself? Could you give them up and still feel fulfilled? Well, this is probably why I sometimes have trouble with my budget but one luxury I allow myself is eating out fairly often. I go out a lot for lunch with the women I work with just because it feels good to get away from the office. Plus, I am a firm believer in the healing power of retail therapy. If it's been a really bad week I'll go to the mall and buy a new shirt or something. Could I give them up and still feel fulfilled? Sure. But I'd definitely have to find a new outlet to relieve stress and why mess up a good thing?

3. Imagine that for 12 months, you were forced to live on an income that is half of what you currently make right now. What steps would you have to take to insure all of your basic needs were met? I'd have to stop eating out, sell my car, and start riding the bus...all of which would seriously suck. And even then, I'm not sure that would equal giving up half my income. I'm not sure it's even possible to live on half my income considering what I live on now would make anyone laugh.

Bonus Question:

Do you have any financial tips or strategies that you would be willing to share? No, but I could seriously use some good tips.