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February 2015 Budget Plan

January 30, 2015

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It’s time for my second budget plan for 2015 already! Time is sure flying by, which is good and bad at the same time.

As I said when I shared my January budget, I’ve switched things up a bit and have decided to include an amount of required side income in my budget each month. I do expect to make more than my required amount each month and thus I will report at the end of each month with a TOTAL INCOME AND EXPENSE REPORT to show you all how things actually ended up. I’m sure that sometimes things will be better than expected and sometimes they will be “worse” than expected. Things change and can happen as the month progresses and I think knowing that I have to report on how I actually end up using my income each month will help me make better and more conscious decisions before I blow all of my side income on frivolous things.

Be looking for my January 2015 total income and expense report next week after I get the numbers finalized.

Here is my budget plan for February:

CategoryMonthly Total
Charity$10.00
Saving$20.00
Gifts$20.00
Mortgage$852.28
House Repairs$15.00
City Bill$110.00
Gas Bill$83.33
Cable$86.18
Internet$51.87
Phone$102.95
Food$120.00
Medical$20.00
Fuel$60.00
Car Repairs$15.00
Auto Insurance$96.26
Clothes and Hair$30.00
Pets$40.00
Household$20.00
Personal$50.00
Crossfit$80.00
Cleaning$90.00
Debt$529.07
TOTAL$2,501.94
FT Income$2,198.04
Side Income Required$300.00
Difference$-3.90

There are a few changes from my January to my February budget, like my clothes and hair category. I budgeted $80 for January and only $30 for February. I don’t have a hair appointment in February since I go 6 weeks between appointments, so this $30 will be used for any small purchases I need, like hair spray or dry cleaning.

I increased my “personal” budget, which is my entertainment and eating out budget. After talking with my accountability partner, Laurie, I decided I should increase my budget in this area a little bit so I can hopefully stick to it instead of being over every single month. We’ll see how this month turns out before I decide what to do for March and beyond.

Other than that, there aren’t too many changes to my budget this month. I don’t have any big plans for the month so I don’t have any “special” categories included. My plan is to try these budget amounts for February and then make adjustments as needed. Because this will be a more accurate account of my spending, I think I’ll be able to control my spending better since I’m going to be more transparent about it with you.

Do you have any special plans for February? How’s your budget looking for the new month?

I love how this blogger shares her budget plans every month! Makes it so much easier to be accountable.
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Kayla

Kayla is a mid-20s single girl living in the Midwest, USA. She is focused on paying off her consumer and student loans, while simplifying her life and closet. You can join her on her journey at ShoeaholicNoMore or follow her on Twitter.

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10 responses to “February 2015 Budget Plan

  1. Our “unusual” expenses for February include $710 for propane (hurry spring!), $240 for dental work for my husband, $200 (rough estimate) for a booster seat for my growing daughter, and $200 (another very rough estimate) for one or both of the cars needing oil changes.

  2. Barring unexpected changes February should be a quiet month for spending. I have a big work trip that will occupy about a week and be most-expenses-paid, so that only really leaves about three weeks to handle on-budget. I’m hoping for lots of savings! Good luck with this budget. That’s a nice big debt repayment planned 🙂

    1. I’m hoping to put even more than that toward debt if possible! (about $500-525 is my normal monthly amount, plus my mortgage payment)

  3. Lots of vet bills for our pup in February for us! Propane truck is filling our tanks now so we should be able to see that bill in a day. Now the challenge will be to set our budget to reasonable, realistic limits so that we follow our budget guidelines and get the debt payoff we want.

    1. I will be getting my 2014 performance incentive in February too, but I didn’t include it in my budget because I’m not sure what my plans are for it yet.

  4. I have a week of work travel coming up in February, so I’m looking forward to getting that per diem! I’m also going to visit a friend in Arizona for a weekend. Since the flights are paid for, I’m hoping to not spend too much else on this trip.

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