Monday, May 1, 2017

April Financial Update


The April Piggy Bank has been fed. Well, actually, it went on a crash diet, but all good as we fully funded our Roth at $13,0000. We had to dip into savings to do so because our 2017 savings hadn't met this milestone yet by April 17. I did say 2017 would be a series of ups and downs due to inconsistent income from DH and the timing of when we made the various expenditures. I added a new section called Financial Goals Achieved and it feels good to have this one met. 

With the Roth funded, the new savings goal balance is $29,251 with eight months left, an average of $3,656. Since we already made the decision to fund the Roth, and it seems unlikely based on our monthly average of $2,771 that we will hit the target, we'll have to decide if we are OK with saving less towards DD2's college this year, or tighten decrease the savings targets in other areas.Still, I am staying centered as to the important things for my family to put money towards. May will be tight as the VISA charges for April for Easter, yearbook, bridal shower costs, Go Fund Me donations for my friends and niece,and my weekend at my daughters added up and will be on the bill due the end of May. Still, I've already paid for our hotel for nieces wedding, her gift, and a wedding gift for a May 6th wedding.

April Wrap Up

Annual Savings Goal          $40,417
January Deposits                $ 2,200
February Deposits               $1,283
March Deposit                     $4,901
April Withdrawal (Roth)     $13,000
April Deposit                        $ 2,700
Perks to Cash                     $      72 
Savings Goal Balance          $42,241

Financial Goals Achieved
Fully Fund Roth                  $13,000

Revised Savings Goal
Balance  May 1, 2017        $29,251

December Fun Money        $     480
January set aside               $       70
February Set Aside             $         0
March Set Aside                 $         0
April Set Aside                    $         5

Savings Goal Balance         $     405

2017 Goals-Recapped
 DH full 401K and Roth        $19,000
*Home Repair/Enhance       $ 5,800
*Travel                                  $ 7,500
College Savings                    $ 8,117
                                             $40,117
*Left these budget categories in tact even though we have made decisions to reduce travel costs and household maintenance/enhancement categories. I need the challenge. If you are tracking, how was April for you?

1 comment:

  1. April was expensive all the way around. We track our budget in two ways - yearly (i.e. irregular expenses like travel, gifts, etc) & monthly (groceries, gas, etc). For monthly expenses, we were $275 over. Which isn't terribly surprising, given that we had my mom staying with us for a couple of weeks, & went out to a couple of pricey dinners. For the yearly expenses, it's too terrifying to contemplate. I know we've spent over $50K on the house so far. The majority of that was flooring, painting, drywall, etc, but it also has included significant appliance repairs, etc.

    Congrats for hitting your savings goals!

    ReplyDelete

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