Money Talk » Budgeting for a New Lifestyle


While pregnant with my third child, I knew I had to limit my spending and start budgeting our money. It’s been a hard and very stressful road. I got pregnant unexpectedly. Now I was trying to have a third child early 2012, but after six months of trying, I gave up hope. Talking to my doctor, he said that a woman loses 90 percent of her egg count at the age of 30!

I had turned 30 in October 2011 and the fact that I might never have kids again made me a little sad but I thought to myself “I already have two wonderful little girls. If I have another that’s great. If not, I shouldn’t get depressed, but just move on.”

And so I moved on. I booked the family a trip to Disney World for November 2012 using the money I had saved up planning for a pregnancy. Two weeks later I found out I was pregnant.

What am I supposed to do? Cancel the trip? Or tighten my budget? I decided to budget because canceling the trip would break my kids’ hearts. And I couldn’t see them that sad.

Currently I have no debt. I have a mortgage on my house and a car note. I know many of you are in worst or even dire circumstances. Hopefully some of these tips will help.

Step 1: Analyze your money.
Where is your money coming from?
Child support?

Step 2: Supplement your income.
Is there something else you can do to help your income?
Sell your clothes on Ebay?
Have a skill you can freelance?
Do you think you can handmake something to sell on Etsy?

Step 3: Set a Goal.
What do you want to save up for?
A pregnancy?
Emergency fund?
College fund?
Paying off school loans?

Step 4: Decide how much you want to save.
Most financial analysts recommend saving 10% of your weekly paycheck. For example:
Weekly income: $300
10%= $30 a week
Per month = $30 x 4 = $120
Anually= $120 x 12 = $1440

Is that how much you want to save? Or are you looking to save a lot more?

Step 5: Set up a high yield savings account.
High yield savings account lets you earn interest on top of your balance. Go to to compare which banks has the highest rate for your needs. I have an account with Ing and Discover. I wouldn’t recommend Chase or Bank of America. They tend to have the lowest rates.

Some banks require a minimum starting balance deposit. Try to save the required amount to kick start your savings account.

Step 6: Cut back on your spending.
Do you really need that new watch? Are you a regular at your local nail salon? Eat out every night? You have a tab at your neighborhood bar? Habits cost money. Are you willing to change your lifestyle so you won’t go broke?

The first thing I cut spending on was clothes. As a blogger, I used to buy the latest trends and that made me over spend. I realized I didn’t need that new peplum or that new pair of CLs.

I also refinanced my home and got my mortgaged lowered by half!

I signed up for a free account that helped me set my goals and budgets. I could see what I was spending over all my credit cards and what went in and out if bank account.

I now am able to save $400 a month.

$100 for each of my daughters and $100 for emergencies. Anything I sell on ebay goes to my savings and so does my annual tax refunds. Most people can’t wait for their refunds so they can use it but I save mine.

If you personally have some budgeting tips, leave a comment below. 🙂