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February 2015 Results

March 2, 2015

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February was an interesting month for sure. My total spending report looks a lot different from my planned budget did at the beginning of the month. I received a big year-end bonus from my FT employer and some of the spending in my report below is from that money.

I still have a good-sized chunk of that bonus left to spend and some of it will be going toward another house repair/maintenance issue in the next couple of weeks. Whatever I have leftover after that will go toward debt or my emergency fund savings.

The bonus money is a big part of the income and spending swings in my report below, but I did still spend more than I should’ve in some areas. Even with that overspending, I was able to put extra toward my debt and savings this month. So overall February went pretty well.

2015 Goals:

  1. Increase emergency fund savings account to $1,500. – Pass – I increased my emergency fund by $153.98 in February. This is $70.65 more than my monthly target of $83.33, which is more than enough to make up for January’s shortfall.
  2. Demolish $5,000 worth of debt (principal). This works out to $416.67/month. ($5,000 goal includes mortgage debt pay down.) – Pass – I paid down $919.13 (including my mortgage), which puts me $640.58 ahead of schedule when combined with January’s over payment. I have paid even more “extra” since then, which will be reflected on my March statement.
    1. This also includes paying off my 0% interest promotion for my computer by October 2015.
  3. Paint and prep home office by April 13. (My birthday!) MUST BE USABLE BY THIS TIME! – Pass – It’s still not quite complete. I got the glass on my desk and I am working out of my office despite not having a new desk/computer chair or a blind on the window. I have color samples on the way so I can order my blind in March. I hope to give you a final look at my office soon!
  4. Attend FinCon15 and pay for everything in cash! – Pass – I continued to save money for my trip to FinCon15 and I have my ticket purchased and a room reserved.
  5. Quit my full-time job by December 31,2015 to freelance full-time. (I may pick up some additional hours at my part-time job to help make ends meet for a while.) – Pass – I guess this is a pass since I’m still working hard on freelancing and putting money toward debt and savings.
  6. Limit spending on clothing, shoes, and accessories to $500 for the whole year! – Pass – I spent $25.99 on clothes in January and $108.58 in February. I have $365.43 remaining for clothes, shoes, and accessories in 2015. I will have to slow down my clothes spending so I don’t go over my budget in 2015.
  7. Get rid of more books throughout the year than I get. – Pass? – I didn’t get rid of any books in February, but I have an entire box with books that I’m going to be getting rid of soon. I did get one new book given to me in February.

Debt Totals:

1/31/201 – $133,251.74 (including mortgage)
$17,219.51 (w/o mortgage)

2/28/2015 – $132,332.61 (including mortgage)
$16,514.46 (w/o mortgage)

Difference – -$919.13 including mortgage
-$705.05 w/o mortgage


1/31/2015 – $510.02
2/28/2015 – $664.00
Difference – $153.98 Increase


CategoryBudgeted AmountActualDifferenceCarry Over Cash
House Repairs$15.00$0.00$15.00$75.00
City Bill$110.00$101.61$8.39$0.00
Gas Bill$83.33$83.33$0.00$0.00
Car Repairs$15.00$0.00$15.00$75.00
Auto Insurance$96.26$96.26$0.00$0.00
Clothes and Hair$30.00$148.58$-118.58$0.00
I LOST THIS MONEY$0.00$55.20$-55.20$0.00
FT Income$2,198.04$2,198.05$0.01$0.00
FT Job Bonus$0.00$2,851.47$2,851.47$0.00
Side Income$300.00$1,022.23$722.23$0.00

As I said at the top, my budget for this month looks a little crazy. I did over spend on going out to eat (what’s new?) and on my clothes/hair category. I also put more into my savings account than was expected, which is a good thing, and paid way more toward debt than expected, also a good thing. I sill lost track of about $55 in February.

Even with losing track of that money, I still feel like I’m doing much better this year than previously since I am tracking my spending and allocating it toward different categories so I can see where I’m overspending. I’m also doing better at using my “extra” income from side hustles for debt and savings instead of spending it all. Yes, I’m still spending some of it on going out to eat and shopping, but I’m getting better.

How did your February 2015 results turn out?

This blogger shared her budget and debt results for the month of February, and she shares the good and the bad!

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5 responses to “February 2015 Results

  1. Congratulations on a great month!!

    February wasn’t great for me. We closed on our home equity loan and paid off some card account, but obviously now owe that money to someone else (at a much lower interest rate, at least). But we got a VERY expensive propane delivery in Feb, plus our electric bill went up. Oh, and we had to pay for a night at a hotel when we got stuck in the blizzard in MA. 🙂

    1. Oh no! Lots of little events that add up quickly. At least you got that debt refinanced to a lower interest rate. Now to avoid using the cards so they don’t get racked up again. That’s what I would probably struggle with. I’ve been cutting mine up as they are paid off…

  2. That’s a nice bonus, eh? Your goals are looking great! My results were so-so… but it’s all about the baby-steps, right? So better is what we are aiming for. And it seems that you have definitely made it in the better category, so congrats!

    1. It was a good month overall, especially if you ignore my huge overspending on entertainment/going out to eat and clothes. Ugh! Those two are so challenging for me. But I am still trying to stay positive as again, I was able to pay extra toward debt and put extra in savings for my EF too.

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