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January 7, 2006

The Budget Board

I've set myself some ambitious spending goals for the next year--or, rather, non-spending goals. In order to reach my eternal target of donating 5% of my after-tax income to different causes, I need to cut down my personal spending to $50/week, so that I can give $30/week away. Five per cent (or fiving) doesn't sound that hard, until you see it laid out like that: I will be working towards giving away almost half of my weekly disposable income.

It's not something I expect will just happen, and it's important to me that I do this--or at least make some progress towards it--so this requires planning. I made some good progress last year, increasing my monthly donations from about $45/month to about $85/month by signing up for regular giving programs through payroll deduction, automatic credit card payments, and automatic debit withdrawals.* (I've found it's much easier to donate money when I never have it. If I have a chance to spend it first, I generally do.)

I even spent an afternoon of my vacation holed up in the basement with Excel, deciding how I should allocate my remaining disposable income, and setting up regular transfers to a new savings account to help me keep track of it all. The whole thing is giving me a stomach ache which, to my way of thinking, means I'm on the right track: there should be some sacrifice involved. In the end, I know it will be better, more ethical and more satisfying to contribute to a cause that's important to me than to buy another magazine I will read once and recycle.

But this will only take me so far. I know myself: When I turn on the computer, it's to play. If the success or failure of this venture hinges on my ability to regularly scan my excel spreadsheet and determine what my contributions are, it will fail. It has to be in my face. It has to be off the computer. It has to be easy.

Enter: The Budget Board, a (literal) board set up to allow me to categorize and keep track of my disposable and charitable spending. I know the regular thing is to go out and buy one, but that seems counter-productive when the entire point is to allow me to spend less--and considering what my spending goal is, really, the more I spend on setting this up the harder it will be. So (to paraphrase the Grinch) if I can't buy a budget board, I'll make one instead.

IMG_5737.jpg

Materials used:

  • One old cookie sheet (you could also use a piece of foam core, corkboard, or cardboard)
  • One largeish fabric remnant (an old piece of clothing would do just as well) One spool of ribbon (could have used shoelaces, string, floss, rubber bands or twine)
  • Stamps and paint (stencils would also have worked)
  • Letter stickers (not needed, but I have them and wanted to use them up)
  • Sewing machine & thread (Not strictly necessary, but very helpful. If you don't have a sewing machine, you can also use iron interfacing adhesive, available in any sewing store.)
  • Four envelopes
  • Cardstock (any sort of decorative paper would work--or you could skip it altogether)
  • Magnet tape (only relevant if you're using the cookie sheet)
  • Buttons

This project was partially inspired by ReadyMade (the book) and partially by an old article I remember reading about how you could use cookie sheets and magnets to display children's artwork.

The first step was to make envelopes for each of my usual spending categories. For me, this equals four: books & other print materials; craft supplies; website and magazine subscriptions; and fiving. I trimmed the flap off of each envelope and to the front (the side with the "v" cut out) I adhered a piece of cardstock trimmed to fit. Then each was labelled with the letter stickers.

I cut a piece of fabric large enough to cover the flat side of the cookie tin and wrap around a good ways behind it, and hemmed it. Then six pieces of ribbon were cut: three equal to the length of the fabric piece, and three equal to the width. These were placed at equal intervals in a kind of grid, and the ends were sewn in place. A measuring tape or ruler is helpful here.

A smaller fabric remnant was cut out from a different colour, and I stamped BUDGET on it, ironed on some interfacing (to cut down the translucency, as it was thin fabric--this isn't necessary), hemmed it, and sewed it on to the top of the fabric piece.

Buttons were sewn along where the bottom edge would be. These are hooks, sort of; I can loop things on to them.

Then the fabric piece was sewn onto the cookie sheet: The corners were folded tightly and sewn in place to hold the whole thing together, and then the sides were laced up like a corset to hold the ribbons tight. Around this time I decided to stamp some images on to the envelopes to match the title.

Result: A faux-french ribbon board. The envelopes tuck into the ribbons, and I can put receipts, bills, or whatever else I want to in them. I can hang things off the buttons. And, after sticking a few buttons on to the magnet tape, I also have magnets I can use to stick things on the board if they don't belong in one of the envelopes.

Altogether it took three or four hours, and cost nothing. Everything in it was reused, so it was environmentally responsible. The end result is not a work of art, but it is prettier than a corkboard and more than functional enough for the purpose.

Next step: Hanging it, and using it.

*If you're curious about how I did with my goals from my last post on fiving, I'm doing what I said I would do plus a bit more--a monthly donation to AboutFace International and the Yellow Brick House as well as the others. But obviously, still not at my goal total.


Posted by Andrea at January 7, 2006 1:59 AM under Crafty Lady

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Comments

that's very cool :) I love my excel spreadsheets (since I can waste more time on constantly optimising them) but that's much prettier.

Posted by: lucy at January 7, 2006 4:56 PM

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You are brilliant, simply brilliant!

Posted by: gawdessness at January 8, 2006 6:46 PM

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Can I ask why it's so important to you? I'd like to know 1> why helping anonymous (making an assumption there) others is important and 2> why you choose to give money rather than, I don't know, baking cookies for the local church to sell or volunteering at a soup kitchen or just regularly donating things you own but no longer use. If you answered this earlier, apologies.

I'm not criticizing, just wondering. Also, are you giving 5% or YOUR income, or your FAMILY income?

The cookie sheet thing is brilliant, by the way. I am already dreaming up ways for my kids to play with cookie sheets and magnets.

Posted by: Jennifer at January 9, 2006 1:34 AM

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Go Berserk




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