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Ashley’s September 2015 Budget Update

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Things were pretty ho-hum in terms of spending and budgeting in the month of September. No spending was crazy or out-of-line with what would be expected. Here’s our budget from September:

 

Place Amount Spent
Rent 1200
Electricity 251
Water 60
Natural gas 34
Cell Phones (2 lines) 82
Cable/Internet 97
Car Insurance 117
Trash 35
Preschool 916
Gift-Giving 30
Personal Maintenance 14
Restaurants 105
Groceries 601
Gasoline 74
Household Goods 50
Clothing 81
Toddler purchases 0
Postage 14
Rainy Day Savings 225
Savings Goals 500
Debt Payments 2564
Total Budgeted $7050

 

Last month I’d reported issues with both my cable and cell phone bills. I was happy to report when both of those issues are resolved.

The $50 household goods charge was for all those Bath and Body Works candles I bought (remember?) And the clothing purchases still never did include those black pants I was after (in fact, I didn’t go shopping again for the rest of the month after that incident). But the first weekend of October I managed to score a really cute pair for 50% off at Banana. That place is becoming my gold mine! (side note: how is a plain pair of black pants “super cute,” you may ask? Aren’t’ they all rather plain? And the answer is no. The ones I got are adorbs. They’re ankle-pants, like the new kind that are in style now. I know that’s not necessarily great long-term since they’re likely to go in and out of style, but I lurve them! They’re super flattering, go with a ton of stuff, and I will get lots of wear out of them!)

Our rainy day savings was a little slim this month:  $200 toward our dental fund (in anticipation of hubs’ upcoming dental work needs) and $25 toward the girls’ college savings. Nothing else. I’ve really gotten a little too close to the line on our savings. I’ve been a little skimpy in favor of making larger debt payments. But this needs to stop.

We’ve got to beef back up our:

  • 3-6 month EF (which we depleted down to about $1,000 back in August and have never replenished)
  • car repair fund (which we always end up depleting everytime it gets to about the $1,000 mark. Right now we only have $75 in it!)
  • annual fees fund (which is just silly to neglect because these are known and expected expenses)

So those will be priorities in the coming months.

The $500 toward our savings goals represents the $500 funneled toward Cruise 2016 (only 6 more months until the sale date! We booked 12 months in advance so it feels like it’s really coming up even though its still half a year away!)

That’s it for this month!

How was your spending in September? Are you anticipating any big holiday spending in October? I’ve really been trying to keep my eyes peeled for possible Christmas gifts. I’d rather spread out the shopping a little instead of having it all concentrated in December!


June 2015 Budget Update

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Hey, guess where I am! Traveling again, that’s where! Whoa! Considering we hadn’t initially planned to travel at all this summer, I’ve been pretty busy! This is already my second trip of the summer (first trip posted here), and I’ll be making a third trip either at the end of this month or beginning of August, depending on timing of my Dad’s tests and doctors’ appointments so I can be there when he receives an official diagnosis.

Fortunately, I get to say that this trip is much more pleasure-based compared to the last one. I’ve never mentioned, but my Dad owns two properties. His primary residence is in Utah and his secondary residence is in Wimberley, TX (south of Austin-area). So this trip included the entire family – we all loaded up the car and drove cross-country to visit family in Austin, spend time together for the 4th of July holiday and take advantage of my last week before I start my full time job (eek!!!) Plus, my Dad was in town so I’ll be able to go and help him with some things on his property. With all of his health issues he’s going to be forced to sell his Wimberley property because it has a lot of acreage and there’s no way he can maintain it as he struggles with his physical decline.

So….killing lots of birds with one stone. We didn’t leave to come out here until July 2nd, so the expenses associated with the trip will fall within the month of July. But similar to our other family-related trips, it’s going to cost us a minimal amount out of pocket. My mom gave us a little money for gas and we’re staying for free with family. I bought a bunch of groceries when we first arrived and we generally take family out to lunch or dinner once while we’re in town. But for a week long trip the costs are pretty minimal.

I’ve got lots to do in the short time we’re here so I’m going to run. Here’s how the month of June shaped up with our spending:

 

Place Amount Spent
Rent 1055
Electricity 150
Water 53
Natural gas 21
Sprint (2 lines) 119
Cable/Internet 99
Car Insurance 156
Health Insurance 394
Trash 35
Preschool 1181
Gift-Giving 50
Restaurants 119
Entertainment 25
Groceries 550
Gasoline 81
Household Goods 41
Clothing 8
Parking 19
Work Purchases 20
Debt Payments 725
Total 4901

A couple quick budget-related notes before I run out the door:

Remember we had a very low income this month (no income from hubs’ business), so we had to raid our EF. One of our top priorities in July will be to replenish it. As a result, our debt payment is way below our average and we put no money toward savings.

Our preschool expense was above average because it included the deposits I had to put down for our new preschool ($75/each), which starts mid-August. Also, watch out – electricity is sky rocketing as our temperatures are climbing. I already received July’s bill and its over $200! Ouch!

I hope you all had a safe, healthy, and happy 4th of July to you American readers, I wish any Canadian readers a happy belated Canada Day, and just happy week to all the rest of you! : )


March Budget Update

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We had a lot less income to work with in the month of March than in our typical months. Because of this, I had to get a bit creative. Some things (like some savings) were eliminated; other things (like debt payments) were reduced.

There’s always room for improvement and this month is no exception. But at the end of the month we had a balanced budget (meaning, we didn’t spend more than we made – using YNAB has really helped me in that regard), so I’ve got to be happy with the end result. April will have a bit more wiggle room, so I’m excited about the new month.

Here’s how March shaped up:

Place Amount Spent
Rent 1055
Electricity 116
Water 69
Natural gas 26
Sprint (2 lines) 114
Cable/Internet 99
Car Insurance 58
Health Insurance 394
Trash 35
Preschool 1030
Gift-Giving 40
Personal Maintenance 62
Restaurants 108
Entertainment 10
Groceries 388
Gasoline 38
Household Goods 7
Toddler purchases 53
Postage 10
Work Stuff 62
Rainy Day Savings 0
Savings Goals 300
Debt Payments 603
Total $4677

 Most of these items are in-line with expectations. But I do have a couple comments…

  • Preschool ($1030 spent): This month was a normal charge, but I referred a friend to our preschool facility, so I’m excited that next month I should have a referral credit. I’m not sure how much of a discount I get, but any amount saved will be great!
  • Gift Giving ($40 spent): This was a $20 gift for two separate people (both baby presents).
  • Personal Maintenance ($62 spent): This was $35 for a hair cut and eyebrow wax, $12 for attending a yoga class, and $15 for new eye cream and face lotion (I got cheap grocery store stuff…not sure if more expensive stuff works better? I’d love to hear others’ opinions on quality versus budget eye cream and face lotion – that stuff is $$$!)
  • Gasoline ($38 spent): Gas was so cheap this month because my husband ended up filling up the car for me while I was on my not-an-interview trip. I generally only have to fill up twice per month, but this month I only filled up once!
  • Work Stuff ($62 spent): I made a new category called “work stuff” for expenses that are related to work and can be 100% tax deductible. This month these expenses stem from my not-an-interview trip, including food the night I got into town, gasoline in the rental car, and parking costs. I’ve saved all the receipts for everything, but having work expenses as their own category in my budget will make things easier for tracking and tax purposes, too.
  • Rainy Day Savings ($0 spent): With the tighter month, I didn’t put any money aside for any of our rainy day funds (which include: 3-6 month expenses, car repairs, toddler birthday, travel/Christmas, dental/vision, annual expenses, and vet expenses). This is not ideal since many of these categories are non-negotiable anticipated expenses (like my annual expenses for car registration), but skipping one month won’t kill us either.
  • Savings Goals ($300 spent): I put $100 toward my Roth IRA fund (and then I promptly withdrew all the money I’d saved to actually open a Roth), and $200 toward my Cruise 2016 fund.
  • Debt Payments ($603 spent): Discussed more in my latest debt post. This figure represents $50 toward my car payment, $453 toward student loans, $75 toward license fees, and $25 toward medical debt. One side-note about medical debt (and the reason for the discrepancy between this figure and the one I reported in my debt update)…I was supposed to also have a $50 medical bill to pay, but I never received the bill this month. When I called the office to inquire about it, it turns out they’d processed my last payment late, so it looked like I’d skipped a February payment and already paid the March payment. It was a clerical error on their end so nothing negative was reported to my credit and no late fines or fees were assessed, but it means that my next bill is not due until April (also…my April bill will be my LAST bill for the $50/month payment! Eeeeek!!!!)

Overall thoughts on March budget

Honestly, March was tough on me psychologically. I feel like I’ve just been making tiny little baby steps lately, where I’m used to the “rush’ that I felt when I first started the debt repayment process and was making huge strides monthly. I still stand by my previous statements that I think having a lean month from time-to-time can be good for us, force us to examine how every single penny is being spent and use the opportunity to try to reflect on true necessities versus extras.

That being said….I’m ready to have some more income to toss at debt. I’m not going to lie. It hurt to only put $603 toward debt when I’m used to paying between $1500-$2500/month!! Six hundred dollars doesn’t even move the needle of what I owe – its like just treading water because it only covers interest without any extra! It made the month feel long as it draaaaagged on with its relentless 31 days (and coming on the heels of a 28-day month!)

And I wish I could say that April was going to be an awesome month, but it won’t be (we live on last month’s income, so the money we have to spend in April is from income earned in March). It will be better than last month, as we have almost an extra $1500 in the budget, but it’s not as high as I’d like (for comparison’s sake, our income this March is down nearly $2,500 compared to March of last year). Oh the joys of small business ownership. The good news is that the business has, overall, been flourishing and even when there are leaner months, we can be sure that fatter months are ahead. (Fingers crossed!)

How did you do with your budget last month? Do you have any areas you’re working on improving?


Ashley’s February Budget Update

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After admittedly falling off the frugal train in the month of January, I think I did a much better job in February. You’ll see that not every single purchase was one of absolute necessity, but I also think I maintained a good balance of saving money, paying down debt, and getting a few things that were needed during the month. Here you go….
February Budget Update

Budget Category Amount Spent
Rent 1055
Electricity 158
Water 60
Natural gas 22
Sprint (2 lines) 114
Cable/Internet 99
Car Insurance 165
Health Insurance 394
Trash 35
Preschool 1040
Gift-Giving 50
Personal Maintenance 40*
Restaurants 87
Entertainment 35
Groceries 310
Gasoline 57
Household Goods 115
Clothing 22
Toddler purchases 20
Rainy Day Savings 625
Savings Goals 500
Debt Payments 2102
Total $7105

Let’s discuss….

  • Electricity. It’s weird that my electric bill this month was exactly the same as last month. At first I thought this was a mistake and double-checked, but this is the correct figure. Just a weird coincidence (note, I’ve been working to try to conserve electricity and the bill has gone down this month – wahoo!!)
  • Car Insurance. This got messed up this month because somehow husband’s truck ended up back on our personal insurance (instead of a separate policy in his company’s name). I’ve called to correct this so the bill should go back down again for next month.
  • Gift-Giving. We had several gift-giving occasions in February. This $50 figure includes a $30 photo book for my Mom’s birthday, my $5 classroom gift basket, and supplies for the Valentines we sent out to friends and family members (including pictures I had printed, postage, and a couple of cheap V-Day gifts I picked up from Dollar Tree for the girls).
  • Personal Maintenance. I put an asterisk next to this item because I didn’t actually spend any money during February on personal maintenance, but I plan to spend the money this month and wanted it set aside. I’m trying to decide what to do (may write a post about it), but am thinking I may get my hair done again before my big “not an interview” trip. It feels so soon, since I’d gone a full 9+ months without getting it done a single time, and then I went at the end of January before my ‘real interview’….but it’ll be a solid 9 weeks by the time I go on my next trip. Should I get a trim? Have my highlights touched up? Etc? I know I want to look sharp, so basically I set the money aside with the intention to use it this month. Not sure how (i.e., what I’ll be doing) or in what fashion (e.g., Groupon? Hair school?) yet. I’ll keep you posted.
  • Restaurants. We did better on eating out this month than we have in recent months (generally I set this at a $100 budget). However, we spent more in the next category than we usually do…
  • Entertainment. Some of this was little stuff ($3 for itunes songs; $6 to feed the giraffes at the zoo). The biggest splurge is that hubs and I actually went on a date this month! This was our first date since our anniversary in November, and we won’t be going on any dates for probably another couple of months so I’m okay with this expense. Just to be transparent, I paid for the actual “date” (movie tickets and snacks), and hubs paid for a babysitter separately, so this figure is lower than it would be if a babysitter were included here.
  • Groceries. Knocked it out of the park with groceries this month (we usually budget $400!!) I guess this makes up a bit for my overage in January, though it means I’m starting out March with a pretty bare pantry and fridge/freezer, and with it being such a tight month financially it means I’ll have to be creative with our dinner plans.
  • Household Goods. This category was also much higher than normal (usually we spend less than $30/month on household items). Some of it was just refilling some cleaning supplies (new kitchen scrub brush, laundry detergent), but I spent $40 on Round Up since our weeds have been out of control (side note – Costco is the cheapest place around for Round Up! I spent $40, but I got THREE of the big jugs-worth of weed killer, whereas Walmart sells the same stuff for $40 for only ONE of the big jugs of weed killer. Costco is the bomb.com)! The other large expense here was the YNAB software. I spent $54 for the YNAB software, but I think its money well spent (edited to add = I thought this was an annual expense, but a reader pointed out this is a one-time fee! Wahoo, I didn’t even realize that, makes it seem like an even better deal now!!!)
  • Toddler Purchases. $20 on gummy vitamins. I get two kinds: a multivitamin and an omega-3 vitamin. Also from Costco and much cheaper than I’ve seen anywhere else (even beats the sales prices at my local grocery store).
  • Rainy Day Savings. In YNAB I’ve made categories for all my savings needs. This month’s rainy day savings include: $200 (car repair fund), $125 (dental/vision), $100 (semi-annual fees), and $200 (a one-time pet expense saving). Remember when I was going to just put $500 toward my pet savings for the year? Yeah, too much money. But I made a good dent in it with the $200 savings (and then I promptly withdrew $51 to buy pet food). But still, that money will last for probably half the year, and I’m not planning to add any additional money to the pet savings right now since things are a bit tight.
  • Savings Goals. These are longer-term savings goals, not just for routine expenses. I saved $100 toward a Roth IRA, and $400 toward cruise 2016.

I said I was going to stop doing a full “anticipated budget” post for the current month, but just to give you a quick idea of how things are changing this month during our time of lower income….

In March I’ve done away with rainy day savings. I’ve changed all my Capital One 360 automatic savings plans so that nothing will be saved toward any of my rainy day funds in the month of March. I’ve also reduced my savings goals. I still have the $100 going toward a Roth IRA, but only $200 is going toward Cruise 2016 (instead of the $400 I’d initially planned). That’s a whopping total of $300 in overall savings in March…. compared to the $1125 I saved in the month of February.

This is yet another example of how having a lean month can be helpful. When I was really studying the budget and seeing where we could cut back, it’s hard not to notice that OVER A THOUSAND DOLLARS A MONTH IS GOING TO SAVINGS!!!!

How is this??? HOW!?!?!

We still had a decent debt payment (over $2,000; nearly 30% of our total income), but it was a bit of a shock to realize just how much is simply being set aside and saved on a monthly basis. When things get tight, the savings is the first thing to go! Just as a heads up, my debt payments will be much smaller this month, too. I’m just focusing on trying to pay all of our minimum obligations (okay, a little over the minimum, but not by much), and get through the month without any overspending. It’s been a long time since our income has been this low, and with the girls’ preschool accounting for nearly 25% of our take-home pay, regular bills (rent, utilities, insurances, etc.) accounting for another 50% of our take-home pay this month….there’s not a lot leftover for big-sized debt payments and non-discretionary spending (like groceries, gasoline, etc.).

But still, progress is progress. Any month that we’re moving forward is a good month, no matter by how little.

So there you have it.

How’d you do with your budget last month? Any big changes for this month?


Talking to Friends About Money

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Today I wanted to talk about something a little taboo (I guess we’ll just keep with the theme, since today’s mid-day post was a bit taboo, also).

Do you ever talk with your friends about money? Not just casual mentions of money, but deeper conversations about budgeting, debt payments, financial goals, etc?

Confession: when I first started blogging here I hadn’t ever talked about money (on a deeper level) with any of my friends, ever! It made for a challenging transition from my old spending habits to my newer (more frugal) ones.

Eventually I slowly started talking a little bit about how I’ve been working to pay down our debts. One of my friends, in particular, has been really kind about my debt reduction mission. She still doesn’t know specifics (exact figures of debt versus monthly payments, etc. etc.), but she knows that I’ve become much more money-conscious (side note: she’s actually made innocent comments occasionally about how “tight” money is right now in our household. LOL! If she only knew the truth = that we spend $2,000/month on DEBT!!!).

This friend and I used to get together nearly once a week for lunch or a happy hour and, instead, we now get together to do a little 3-mile walk/jog on a popular jogging trail here in Tucson. I love it because I’m able to get some exercise and some girl talk all at once, and to do so for 100% free!

But still….no one knows the extent of our debt situation, nor the sacrifices we’ve made to really try to chip away at our debt.

I have a different friend that I was chatting with the other day. She and her husband were preparing their taxes and realized that last year they’d had a dramatic income boost – 33% over the previous year. The scary part is that she said she has absolutely NO IDEA where the money has gone. They still have the same living arrangements (same modest apartment, same old car, no new baby, same basic “stuff”), so it’s not like their expenses have gone up. Just…the money has disappeared.

To be totally fair, she recognized that her spending has gotten a little “willy-nilly” lately (e.g., extra Starbucks runs, more dining out), and my friend is one of the most generous people ever so she spent a TON at Christmas (I don’t want to give her financial specifics, but when she told me the amount she’d spent on family I was SHOCKED!) I’m sure she’s equally as generous throughout the year with other occasions (birthdays, showers, etc.)

So after hearing all this, where does the conversation go from there? I know my friend has some debt (student loans at a minimum, though I don’t know specifics about other consumer-related debts), and I want her to win with money! I wanted to tell her all about what I’ve been doing, to encourage her to examine her spending, make a budget, try to cut back, etc. etc. etc. Only…I didn’t feel comfortable to do so completely unsolicited.

I did mention that I’d been working really hard this last year to pay off debts by really trying to stick to a budget (hoping this would open the door for more questions), but the conversation just kind of ended there. She picked up with a different topic.

So what would you do? Do you talk to friends about money? Would you ever do so unsolicited, or simply wait to be asked? It feels like a weird topic (kind of like trying to push your religion on a friend), but I’ve just felt so thrilled with my progress this past year and I really WANT my friend to do well financially, too! Especially with their big income boost, they deserve some financial wins, you know? But it’s definitely still so taboo.

How do you feel about the topic?
Would you talk to your friend(s) about money? Would you try to encourage them to get on a budget, or just let them see how you live your life (with the hopes that one day they ask about your success)?


Ashley’s January Debt Update

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I pre-wrote and scheduled a couple of posts for today because I’ll be doing my campus interview all day (my itinerary is from 9am-7pm)!!! I probably won’t have a chance to respond to any comments until tonight or tomorrow so I just wanted to give you a heads up on that. Please send me some good vibes, positive thoughts/energy, prayers, good juju, whatever works for you! I am trying to come off as confident (but not cocky), enthusiastic and likable (but not desperate), professional, and articulate. Remember – I’ve kinda got all my eggs in one basket on this one, so it feels like a BIG day for me! Wish me luck!!!

The numbers are in and here’s how my debt has been shaping up this month…

PlaceCurrent BalanceAPRLast Payment MadeLast Payment Date (original debt, March 2014)
Capital One CC-17.9%-Paid off in March ($413)
Mattress Firm-0%-Paid off in May ($1381)
Wells Fargo CC-13.65%-Paid off in May ($7697)
BoA CC-7.24%-Paid off in June ($2220)
License Fees$22082.5%250January ($5808)
PenFed Car Loan$159782.49%1000January ($24040)
Navient - Federal Student Loans$44448.25%16January ($4687)
Navient - Dept of Ed$722318.25-6.55%260January ($69191)
ACS Student Loans$210407.24%77December ($21035)
Medical Bills$64110%75January ($9000)
Totals$122,312 (Last month = 123,667)Total: $1,678Starting Debt = $145,472

Maybe it’s just because we’ve reached the 10-month mark so some of the newness and excitement has started to rub off a bit, but I’m just not as enthusiastic about my progress as I was early on in the debt-repayment process.

On one hand, we put over $1,600 toward debt this month! That’s great, right?!

On the other hand, my student loan balances went up. Again. (my minimum payments don’t cover the interest, so the balance keeps slooooowly growing).

And my total debt ($122,000+) is still so out-of-control. I cannot WAIT for the day that I break the $100,000 barrier and dip into the $99,999s.

Hubs ended up making an extra debt payment toward his license fees at the end of last month. So if you were to compare the balance this month to the one from last month, that’s why there’s a discrepancy (the table says $250 was applied this month, which is true, but hubs had made a payment of just over $250 at the end of last month, too, so it’s gone down by $500 compared to last month’s beginning balance).

Can I make a little confession that will become pretty apparent anyway real soon (when we talk about how the budget went this month)???

I ended up going a bit over on a couple categories this month. I think some of the holiday-spending spilled over into January and I was just a little too loosey-goosey on my spending. Nothing crazy or extravagant. Mostly just up to my old tricks again….spending too much on groceries and crap that we don’t really need because its oh-so-easy for me to justify grocery purchases as a necessity, even if they aren’t.

Anyway, my plan at the beginning of the month was to pay extra toward my student loans (above the minimums) so I could pay the interest in full and not have a growing balance. *Sigh* Having gone over on my grocery budget (by a lot, I should add), I re-allocated those funds to cover my frivolous food expenses and, alas, the student loan balances continue to grow. Very discouraging.

I will do better next month!

Another confession, since we’re on that train now…

Hubs and I have fallen off the wagon with our monthly finance talks, too.

For long time readers, you’ll know that hubs and I have a unique financial relationship (I talked about it here when I first started blogging). Some of it is changing (e.g., we’re adding each other to all of our accounts this month), but one of the big things is that I’ve always been the one to sit down and actually pay the bills. When I first started blogging we started loosely following a Dave Ramsey-esque type program where hubs and I would have a monthly budget discussion to decide exactly how to allocate that months’ funds.

Over the holidays we’ve sort of slipped back into our old patterns where hubs has simply given me money and I’ve put it where I think it should go. To be clear, I really am doing what I believe to be best with the money (in terms of debt allocations, etc.), but I do think it’s important for hubs to actually be in on these decisions rather than simply letting me handle the funds how I see fit. Things seemed to be moving faster and progress seemed to be better when we were working together. So that’s coming back at the end of this month as we discuss our plans for February.

Hopefully in the coming months we’ll see some stronger progress!

How’ve you been doing with your debt payments? How do you and your significant other handle finances/bills/etc?


Budgeting

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As I mentioned before, I analyzed all my spending from 2014 and have made some budgetary changes to reflect real-life spending. The biggest of these changes is that I’ve added additional budget categories (instead of lumping things together as “miscellaneous”), and I’m allowing for more fluidity; meaning the same budget categories won’t be present every month.

Just so we’re all on the same page, this is a work in progress. I’m still tinkering and figuring out how to do this correctly. I would imagine it will probably take a few months for me to really get a hang of it and to anticipate a month’s needs.

So, that being said, I’ve decided I’m going to do away with providing a “planned budget” for the month and, instead, will only provide summaries of the my spending once a month is complete. I’ll still be doing monthly planning, but because things are going to be more fluid, it will be difficult for me to allocate every dollar to a category at the beginning of the month when I don’t know for sure what expenses are going to pop up. To account for this, I’m budgeting every dollar that I KNOW has a job already (i.e., rent, water, electricity), and trying to anticipate some one-time expenses, but then I’m leaving a good chunk of money (what used to be my “miscellaneous” budget) in the bank and will allocate it as expenses pop up. Make sense? I decided to do this because it doesn’t make sense to me to give you all the boring stripped down numbers at the beginning of every month (rent, utilities, food), because they’ll always be fairly consistent. Instead, I’m only going to provide a spending overview once the month is done. Sound fair?

That being said, I owe you a budget update from the month of December!

December was a bit of a “wonky” month, so it’s a bit unique compared to other months. We had a couple really large expenses ($1600 root canal & $1100 car maintenance). We’ve been living on last month’s income for several months, but with $6550 to spend for the month and well over that amount in expenses, I ended up having to use all of last months income, plus dip into some income from the current month in order to cover all of our expenses.

Here’s what I did:

$6550 = last month’s income

$225 = Christmas money (from my savings account)

$1100 = from current month’s income to cover car repairs

$1600 = from current month’s income to cover dental work

= $9475 for spending in December

 

Place Planned Budget Actual Spent
Rent 1055 1055
Electricity 170 164
Water 60 56
Natural gas 20 23
Sprint (2 lines) 115 114
Cable/Internet 100 100
Car Insurance 56 46
Health Insurance 350 380
Trash 35 35
Debt 2078 2078
Miscellaneous 300 3361
Groceries 400 371
Baby Purchases 1200 1092
Gasoline 100 103
Saving for Irregular Expenses 495 495
Total Budgeted 6534 9473

 

After adding in the above funds, we were barely able to cover our expenses for the month. Why so high?

  1. Turns out our health insurance is rising after all. In honesty, I have no idea why it’s higher this month (I need to call and find out). I received notice that our monthly premiums would raise to $400/month for the 2015 year. Still much, much lower than other insurance plans I’d priced, but a $50/month hike from what it used to be.
  2. Christmas & Travel-related spending. Our actual travel expenses were pretty low, and we tried to keep gift-giving reasonable, but it did cost additional money outside of our regular budget.

Here’s how the miscellaneous category broke down:

  • Entertainment: Budgeted = $20, Actual = $21
  • Eating Out: Budgeted = $100, Actual = $61
  • Personal Maintenance: Budgeted = $30, Actual = $10
  • Other: Budgeted = $300, Actual = $3270

But if you take the “other” category ($3270) and subtract the dental work ($1600), car maintenance ($1100), and hotel from traveling to Austin ($140), you’re left with only $430 spent for everything else (including all the “regular” stuff that falls under this category in addition to all Christmas-related spending). Still a bit high, but not as bad once you realize that the overage is mostly due to those two really high bills this month (dental + car maintenance).

So there you go. And then, just to contradict myself, let me tell you about a couple of expenses that I’m planning for the month of January….

First, hubs and I are both getting our wills done! 2015 = year of becoming an adult, remember??

Also, I’m going to try to keep the costs low-low-low, but I have a couple gift-giving expenses to budget for. One friend got married, 3 family members have birthdays (including my step-dad’s big 60th birthday), and a baby shower (I’ve already got the gift for this, but need to mail it). Haven’t decided if the dental stuff (exams & x-rays) is going to happen this month or next month. Guess we’ll see how it goes!

Are you implementing any big budgetary changes for 2015?


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