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Posts tagged with: household budget

Ashley’s January 2016 Budget Update

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Let’s just jump right to it, shall we?

Also, full disclosure….as I was making this month’s budget update I realized I never made one for December! Yikes! How did no one point this out/remind me? In full honesty, I feel too rushed for time as it is to go back and write a post from last month so I’m just picking back up here and moving forward.

 

Place Amount Spent
Rent 1200
Electricity 199
Water 61
Natural gas 103
Cell Phones (2 lines) 89
Cable/Internet 101
Car Insurance 137
Trash 35
Preschool 1061
Gift-Giving 107
Personal Maintenance 33
Restaurants 197
Entertainment 81
Groceries 665
Gasoline 131
Household Goods 9
Clothing 69
Health 25
Rainy Day Savings 50
Savings Goals 0 (-120)
Debt Payments 4013
Total Budgeted $8366

 

Comments:

Gift-Giving: I paid for 3 birthday and 1 belated Christmas gift with that $107, so I felt like I’d done pretty well considering how many gifts were purchased.

Personal Maintenance: This is for some hair care products I bought. It’s been FOREVER since I’ve bought anything related to my hair (with the exception of hair dye since I cut and color my own hair), so I didn’t think this was too bad. I bought a deep conditioning treatment thing and a new flat brush since my old one has been falling apart for months.

Restaurants: This was super high this month (and was last month too, even though I never did a budget update last month – doh!), and it’s because this includes a bunch of eating out expenses from when we were out of town. Remember that this year we traveled back to Texas in late December and stayed until the first week of January. Some of those expenses, of course, were in December, but some fell in the month of January too. So that’s why this was so high.

Entertainment:  $6 was from the girls riding on those giant animal things they have in malls (know what I’m talking about? No? Nevermind then). The remainder was from a DATE NIGHT that hubs and I took! Wahoo for that! I’m warning you now, I’m really committed to trying to have more regular date-nights this year so you’ll see a higher entertainment budget this year than in the past 2 years of blogging. We’re shooting for every-other-month, but we’ve already got plans for Valentines, so we’ll be going back-to-back January and February.

Groceries:  This was also a monstrous sized number! I stocked up on a ton of snack-type foods for the girls that I send with them to preschool (e.g., pretzels, cheese crackers, fruit leather, trail mix, juice boxes, etc. etc.) and I’m hoping/planning that those things will last at least 2 months, so our February grocery budget should be much more reasonable.

Household Goods: This includes some batteries we needed for remotes and kid toys.

Clothing:  I’m still budgeting roughly $100/month for building up a work wardrobe. I’m getting to be pretty good on this, though. I’m still trying to find some decent khaki pants (I’ve tried on a few different pair from a couple different places in the mall, but wasn’t crazy about anything), but once the pants are purchased I think I’ll have all my staples and I’ll reduce this budget down to probably closer to $40/month just to fill in with a new blouse or cardigan once a month or so.

Health: This is from a prescription

Rainy Day Savings:  I don’t really like the category because it’s really not a “rainy day savings” (I need to adjust my YNAB a bit), but this is for the girls’ college savings. We save $25/month per child ($50/total) toward college. I’d hoped to save a bit more toward our car repair fund, annual fees fund, etc., but at the end of the month we just didn’t have the money there, as we’d spent it on getting rid of the car loans (wooo!!!!) We’ll focus a lot harder on this category in February.

Savings Goals:  Similar to the rainy day savings, we just didn’t have money this month for any of our long-term savings goals. You’ll notice that I actually put a negative number there in the table! I actually withdrew $120 from the Cruise 2016 fund. I paid for one plane ticket (I will be traveling separately from the rest of the family because I can’t take off extra time to stay in Texas like hubs and the girls plan to do), and I bought a new swimsuit. I plan to use this money for all cruise-related expenses so I’ll be spending a big chunk this month (when I pay off our remaining balance), and this is where I’ll be spending when I buy cruise-related clothing or other necessities (as opposed to having it come from the regular clothing our household budget).**Edited to add:  I realized without additional context this amount seems off. The plane ticket I bought was only $75 because I already had an airline credit. The remaining $45 was for a swimsuit. PRO tip:  Mix & Match!! I bought a swimsuit bottom from one site because it was cute, my size, and on clearance. I bought the top from another site for the same reasons. They’re both black so, even though they’re different brands, they definitely look like a matching pair. But it’d be possible to mix-and-match patterns, too. The point is that if you look around, you can score some great deals! The swimsuit full price would’ve been about $100. The bottom was from Albion Fit and the top was from Victoria’s Secret (both a bit pricey in swimwear), but buying off-season and clearance saved me a ton. That’s my tip of the day. : )

Debt:  I gave a full debt update here.

So I think that’s it. I’m excited about the month ahead!

I hope you are all starting off to a fantastic February!


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?


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