Here was our annual plan.
College
|
$21,000
| |
Show Choir Trips
|
$1,970
| |
Graduation Party
|
$900
| |
Move in Weekend Trip
|
$175
| |
Parents Weekend Trip
|
$175
| |
Choir Concerts Trips
|
$350
| |
Home Improvement
|
$5,430
| |
Total
|
$30,000
|
April was pretty strong for us, but will start seeing the bills for many of the upgrades in May and June. We had gas money plus some restaurant meals that we put on the credit card from Nashville that carried into this past month. Here is how we ended April.
($ 0) Borrowed from Savings
$ 3150 Cash Deposit
$2910 Show Choir Trip #1,#2, #3 + Nashville (we are over in this category by $940)
$ 100 College Deposit
$6,160 Net Result
This is an average savings of just $1,540 per month. It would have been a higher average had we not started January needing to tap into savings. I am being particularly watchful as the months lead up to December that we set aside money for Christmas and the extra expenses that seem to come with December. We also moved money from a savings account into the Roth. Last year I tried to account for that as part of the annual savings target. This year, it is just moving funds from one savings vehicle to another, but hopefully at a much higher return. It is risky to have moved it from savings rather than save towards the deposit because it is pretty much untouchable until DH retires. But as we get closer to that marker, I feel like the risk is less and the rewards are so much higher particularly if we do not touch it until I retire. Onward to May.
I did the same thing on my blog today, spoke about April spending. I wanted to start saving for Christmas already, but haven't yet. I need to do that. Keeping track and planning for my money helps me to keep it all in order and I spend better and save more when I do that.
ReplyDeleteI need to better about using envelopes or a different savings account-something that the money is specifically just for those future expenses, but saved for through the year.
DeleteApril was just an expensive month all the way around here I hope May is better.
ReplyDeleteWe have nothing but expensive months form here on out. I need to be tight fisted elsewhere, but still try and enjoy life a bit.
DeleteIt's interesting seeing other people's "systems" isn't it, whether it be multiple bank accounts or the "envelope" system! I actually use the "envelopes in a tin" system for my monthly expenses as I find paying cash becomes more "real" and helps me save. Of course I have bank accounts (one in Switzerland where my pension is paid and one in France where I live) but I really do work with the "back of an envelope" for my budgeting.
ReplyDeleteI'm going that route for Christmas shopping this year, starting in May, and I;ll have 8 months worth by early December. My key will to not tap into it for something else.
DeleteI do not have a strict budget for every category, but just spend very little money each month. With the exception of occasional items that break or need to be repaired we have very few expenses outside of the normal living expenses (food, utilities, etc) I think it is because we have gotten older and are no longer acquiring, but are in the getting rid of phase of life. That and no more school tuitions!
ReplyDeleteWith moving so much stuff out of the kitchen, I desperately need to get out of any inquiring mode as well. Beyond travel, kids college, needed clothes, a few gifts to others, after this home stuff is done, there should be very little that I have a desire to spend money on. And yet, we still will!
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