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July 2016 Results

August 3, 2016

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Curious about my results? Come take a look!I feel like 2016 is just flying by and here we are at the beginning of August already.

July felt like a very expensive month. I didn’t add it up as I went throughout the month, probably because I didn’t want to see how bad it really was. But now it’s time to look at all of the final numbers.

Part of the increase in spending the last couple of months is that I have finally run out of a lot of household goods that I stocked up on with coupons a few years ago. (Yes, years ago.)

I’ve had to start buying things like toilet paper, paper towels, dish soap, and more.

I still have a stash of a few items, but once those things are gone too, I’ll have to be buying even more household items on a regular  basis. My household spending is usually around $50-60/month now. Back at the beginning of my budgeting, I only spent about $20/month. I think I’ll have to increase it another $10 or so each month once I run out of even more things I used to have a stock of.

Have you ever stocked up on things? How did you handle the fluctuations in spending?

Here’s how my July turned out.

Debt Totals:

6/30/2016 – $141,094.24 all debt
$28,781.41 without mortgage

7/31/2016 – $140,818.44 all debt
$28,729.77 without mortgage

Difference – -$275.80 all debt
-$51.64 without mortgage

Savings:

6/30/2016 – $1,519.75
7/31/2016 – $1,543.67
Difference – $23.92 Increase

Budget:

CategoryBudgeted AmountActualDifference
Saving$20.00$23.92-$3.92
Mortgage$883.66$883.66-
City Bill$160.00$160.26-$0.26
Gas Bill$18.06$18.06-
Cable$15.98$15.98-
Internet$53.30$51.95$1.35
Phone$67.66$67.66-
Fuel$50.00$24.86$25.14
Auto Insurance$101.61$101.45$0.16
Cleaning$90.00$90.00-
Cash/Other Spending$280.00$514.77-$234.77
Debt$889.28$489.28$400.00
New York$100.00$100.00-
Dentist and Contacts$297.00$305.00-$8.00
4th of July$30.00$25.56$4.44
TOTAL$3,056.55$2,872.41$184.14

Although I came out under budget (for once), it’s not really a good thing. The area where I had the most budget savings was in debt repayment because I didn’t pay as much toward debt as I had planned.

I put my usual amount into savings ($20) and then my bank rolls over my spare change into my savings account each time I make a purchase with my debit card. So if I spend $25.50, it will round that up and put the other $0.50 into my savings. This usually adds up to another $5-10/month that goes into my savings account.

This month I didn’t make much progress on debt. I did buy something for my parents that they took off the bill of what I owe them. But the purchase went on my credit card, so the total debt stayed the same. I plan to pay that off this month instead of paying them a monthly payment.

I also bought a few household things on Amazon on my credit card that I plan to pay for this month too, but they were reflected in my balances at the end of July, so I counted them in the debt numbers above.

Hopefully I’ll be back to making some good progress with my debt in August.

How did your July turn out?

Every month, I release my budget goals to stay on track with debt repayment. How did I do for the month of July? Check it out here!

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13 responses to “July 2016 Results

    1. Thanks Dominique. It’s hard to report months like this when there wasn’t much progress, but I know I wouldn’t be painting an accurate picture if I didn’t show the months where things were more difficult.

  1. Thanks for sharing Kayla! I am finding that sometimes it helps to go back to the basics with budgeting. Starting from square one can help a lot when it comes to starting a budget. I find that at times I make it a bit more difficult than it should be. So I don’t have much to say for my July budget accept for “going back to the basics” is my new goal.

    1. Yes, that’s definitely a benefit of living in the middle of country. I got a pretty big house for that price too (not sure on exact sq. feet, but it’s 4 bedroom).

  2. I used to never stock up on things because I budget weekly. My husband and I have $200 per week that we spend on groceries, entertainment, etc, and we never had the money for a Costco trip for a zillion roles of toilet paper.

    But I figured out a way around that by squirrelling $20 per week into a separate account. Since it wasn’t in our chequing account, we didn’t spend it. Then when it got up to around $150, we could afford to stock up on essentials. We call it the house spending fund and it’s a catch-all fund for normal household supplies.

    Hope that helps!

  3. Maybe you’ve mentioned this before, but where do you store years’ worth of household supplies?? I’ve given some passing thought to couponing, but it seems you have to have an entire basement or shed dedicated to it, and I don’t have that kind of storage space.

    1. Well, since I’m single, I don’t actually have to have that much stuff to last for a year or two. For instance I had about 20-ish bottles of laundry soap and I haven’t run out yet (from the end of 2013). I just kept it in my laundry room in a cabinet that was already in there. I stored the dryer sheets in the “pedestal” drawer under my dryer. Paper towels and TP I’ve kept in a closet in my spare bedroom. The stack was almost up to the ceiling at one point, but it was all in one stack.

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