My personal budget breakdown for 2023

With every major lifechange, there are probably changes to my budget too. Since we moved earlier this year, I’ve had to make some adjustments to my personal budget.

First of all the shared expenses went up and so did my phone bill and other smaller items.

Now that we have properly settled in, I want to have another look at my finances. Really, what prompted me was my “bills covered” tracker. When I could see my passive income suddenly covered less of my monthly bills, I wanted to do something.

Changes in my 2023 budget

With all that’s happened lately, I wanted to cut back a little and rearrange where I can. The easiest one is my phone bill, which will go from $ 14-15 to about $ 10 a month. I won’t notice it in my data since I’m never close to using it all anyway.

Next up is having a look at all my sinking funds. I currently have money being put aside for dental and medicine and then all my fun-money sinking funds. That seems weird to me now and I want to revise it completely.

I need to just put my non-fun sinking funds into my budget account buffer and merge it with that. It’s basically my emergency fund and it makes more sense to just throw it in there for now. The other sinking funds will probably be shuffled around a bit, and I need to look at my priorities. Maybe I want to save less and invest more.

Saving a dollar here and there

It might not look like much to you right now, saving $ 3 on my phone bill. But when I’m counting on reaching FIRE at some point at having my expenses taken care of by passive income, each dollar counts.

My personal budget breakdown for 2023