Yeah, no green on the ground as we are in a blanket of white and there seems no end in sight of winter. February was better than January on the financial front, seeing a little bit of green accounting. But then, we had a long way to make up. Our goal is to have above our regular primary savings (annuity, car fund, 401 K) $30,000 in cash after paying our regular life expenses. The plan for how the $30,000 will be distributed is below. I've already "fessed up" that I woefully under budget the show choir trips, but plan to skinny down a couple line items in the regular budget to make up for that, mainly in the entertainment and eating out categories. We still have the big show choir trip, though you can see we have prepaid for the hotels already, but I'm expecting we are off by at least $600.
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
|
Here is how we end February:
($450) Borrowed from Savings
$1940 Show Choir Trip #1,#2, #3 + prepaid Nashville Hotels
$ 100 College Deposit
$1,390 Net Result
We're getting into the green now, and that feels like progress. We improved on January by $2,023 and that was without any extra funds coming in. DH's February was below average. We have a lot more money flying out the door in March. We'll need cash for the trip and another local competition this weekend. We'll have the All State weekend expenses on the credit card, plus my car brakes, and it appears, the oven repair or replacement. It means I'll continue to be thrifty and challenge myself to get the most return when I do spend. Please comment how your managing in 2019. If you blog and track, feel free to link below.
We were on budget for February for our monthly expenses, but spent more in our yearly categories than planned. We had multiple ski trips (3) between Jan/Feb, which are so pricey. I also booked a flight for June, so the travel budget is looking pretty decimated right now!
ReplyDeleteThis makes me mindful about things like meals and take out, buying clothes that I do not need, and finding thrifty entertainment while not being anti social. Skiing is an expensive hobby to begin with and adding hotel and meals, it can really add up. But great times and memories with your family.
DeleteIt's early in the year, but I think we are on track. I feel that when our construction is complete and we are moved, I will really get a good grip on financials. Other than construction, I am trying for no spend. Kids know why we're lean--not saying they are on board, but the get the reasoning.
ReplyDelete
Deleteyes, you'll likely need some time to normalize in your new home as well. Any change forces revaluation of what is needed to spend and where, but since you are investing, I believe you said in your last ever home, I'm sure your kids get it.
We have a yearly budget as some months are much higher than others. I still keep track of spending month to month though. Congrats for being in the green!
ReplyDeleteI was really deflated at first when I looked at the savings balance and how little we put back in the account after borrowing frim it in January. Then, I remembered that we got a slightly better per night rate by prepaying the rooms (even though they are still cancellable up to two night before) and those were on the February CC.
DeleteI can only say I just made it through February, but am praying for a better March. My financial goals are good but my other goals well I stink at them.
ReplyDelete