Well, I’m a little later with this report than I wanted to be, but I finally had some time to compile it and get my budget numbers in order.
Unfortunately, it still looks a little crazy and I can’t wait to get my house project done so I can quit having all these extra charges running through my account each month. It’s very frustrating and makes putting this post together all the more difficult. My project has been delayed due to the huge amounts of rain we’ve had in our community over the past few weeks. Originally it should’ve been done by now, but the contractor hasn’t even started yet.
Part of me is thankful for the moisture, obviously, but another part is frustrated because I just want to get this project done so I can move on.
Last weekend was my garage sale and I ended up with just over $250 for my cut. We made about $600 total but had to split it between a few people who brought things to put in the sale. This is a little less than what we made last year, but I think it’s because we got rained out on Friday night and had to close up shop 2.5 hours early. 🙁
The garage sale cash served as most of what I needed for my June living expenses (the ones I usually pay for with cash), so I had a lot less to take out of my account this month. The surplus from this will be used to help fund the shortage from my neighbor being a cheapskate on our project.
- Increase emergency fund savings account to $1,500. – Pass – I increased my emergency fund by $30.01 in May. This is less than my monthly target of $83.33, but I think I can still meet this goal. There’s plenty of time left this year and I have put in more than necessary in other months.
- Demolish $5,000 worth of debt (principal). This works out to $416.67/month. ($5,000 goal includes mortgage debt pay down.) – Pass – I actually had my first increase on debt due to my fence project. Luckily, I have paid extra in other months. So far this year I’ve paid off $3,012.80 (even with the increase this month), so I’m still ahead of schedule on my goal for the year.
- This also includes paying off my 0% interest promotion for my computer by October 2015. – THIS WILL BE PAID OFF IN JUNE! 🙂
Paint and prep home office by April 13. (My birthday!) MUST BE USABLE BY THIS TIME!– DONE!
- Attend FinCon15 and pay for everything in cash! – Pass – I continued to save money for my trip to FinCon15. I have my conference ticket purchased. I booked my round-trip flight, and I have my hotel room reserved. I have enough saved up to pay for my hotel room and most of my other expenses too. FinCon15 here I come!
- 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 had a call with Carrie and have had many conversations with Cat about this. I am quitting my part-time job this weekend (more details on this later). Up next: quitting my full-time job 🙂 Limit spending on clothing, shoes, and accessories to $500 for the whole year!– Fail – I’m not tracking this anymore. I’m just doing my best to keep my spending to a minimum.
- Get rid of more books throughout the year than I get. – Pass-ish? – I got rid of a ton of books in my garage sale. I have only gotten 2-3 new books this year.
4/30/2015 – $130,636.88 (including mortgage)
$15,248.65 (w/o mortgage)
5/31/2015 – $130,793.74 (including mortgage)
$15,621.34 (w/o mortgage)
Difference – +$156.86 including mortgage
+$372.69 w/o mortgage
4/30/2015 – $818.82
5/31/2015 – $848.83
Difference – $30.01 Increase
|Category||Budgeted Amount||Actual||Difference||Carry Over Cash|
|Clothes and Hair||$80.00||$73.00||$7.00||$12.00|
|Difference/Total||$1.09||$-448.73 (Inaccurate due to home projects)||$-409.92||$143.20|
This month was frustrating because I had my first debt increase this year, mostly due to having to charge some of my house project onto my new 0% interest credit card to avoid running short since my neighbor backed out of our agreement. I also overspent on entertainment and going out to eat – again!
On a happy note, I didn’t do bad with my clothes and hair category. My hair expenses have gone way down since I stopped coloring my hair and I didn’t buy any new clothes in May. Instead that I used that money to get a couple of items dry-cleaned to get stains removed and professionally pressed.
I way overspent on gifts this month. I had several graduations for family members and close friends, 2 baby showers, Mother’s Day, and more. But I don’t feel guilty about this overspending as I enjoy spending on those who I care about.
Pet expenses was another area I went over budget. I just ran out of dog food a couple of days before June. No big news there.
The huge misc category at the bottom is a lot of items for my household project, some one-time blog expenses, etc. This should not be a recurring item in my report.
How as your May? I’m glad mine is over. 🙂