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August Goal – No Unplanned Spending

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With summer winding down, at least we think, and school starting within the month, we all hope. I have decided to do a no spend month for August. And by that, I mean, not spend anything not already planned for.

Here is my August plan, my forecast, taken from my spreadsheet where I track and plan all spending.

Netflix 1-Aug-20 -15
Rent 3-Aug-20 -650
Dental Insurance 6-Aug-20 -41
Nelnet 7-Aug-20 -600
Water/Gas bill 7-Aug-20 -151
Allowance/Savings Trsfr 7-Aug-20 -70
USAA Auto Ins 10-Aug-20 -477
Allowance/Savings Trsfr 14-Aug-20 -70
HRV 15-Aug-20 -250
Groceries 15-Aug-20 -50
Nelnet 21-Aug-20 -350
Allowance/Savings Trsfr 21-Aug-20 -70
Spotify 24-Aug-20 -15
Nelnet 27-Aug-20 -650
Allowance/Savings Trsfr 28-Aug-20 -70
Auto – Gas guesstimate -100
Total Spend $3,629
Debt Payment $1,850

I’ve got a minimal grocery spend in the middle of the month for fresh produce. Guesstimated a low gas month since school has not started yet and the girls both work less than a mile from the house. And included all bills that have yet been paid for the month. (I’ve already paid the electric and internet bills for the month.)

Almost 50% Goes to Debt

Because we live off of last month’s income, I am very comfortable I can reach this goal. I’ve already received all bills so I know these numbers are accurate as far as utilities and fluctuating costs. And I have scheduled most of these payments. I haven’t scheduled the last student loan (Nelnet payment) because I’m still waiting on customer payments to come through and it wouldn’t let me schedule out that far. But I should have the final payment pre-scheduled by the end of next week.

If we stick to this, our monthly spend will still be high, right at $3,629; however, over HALF of that is going to debt. I’m planning for $1,600 to go toward student loans next month.

Do you know what this means? When all is said and done and I get out from under this debt, my living expenses will be almost nothing. I mean, not nothing, but very manageable. Now that is a thought to keep me motivated!

So here we go to a No Spend August…or at least no unplanned spending!


7 Comments

  • Reply Walnut |

    Good luck, Hope! I’m working on cutting my takeout coffee budget this month. I picked up some concentrated latte mix from Costco as an assist, but ultimately, I’d like to reduced my overall coffee consumption to just a cup or two in the morning and then an occasional weekend treat.

    • Reply Hope |

      Thankfully, since my Coke addiction (Coca Cola, that is), my food issues have greatly subsided. Now I am fasting 42 hours, 3 times a week. So although I keep plenty of food in the house for the 5 kids here, my food intake is greatly reduced. However, when I do eat, I generally crave real food. Fresh produce is important around here. (One of the kids is a vegan too.)

  • Reply Cwaltz |

    You mentioned in your last student loan update that your forecast was $8000 by the end of July. Did that happen? It’s good to see projections but nothing beats actual outcomes in your updates.

  • Reply angie |

    Any chance you can afford to pay your auto insurance in one lump payment for the 6 month policy? Mine is almost a full month cheaper if I pay in advance. Honestly I thought everyone did…If you can’t just yet, that would be a good goal for when your policy renewal comes up.

So, what do you think ?