July:
I kept fairly good track of my spending this month, but even so did overspend in several categories (food being the main culprit.)
I had some extra expenses that I had not counted on with my switch from a landline based DSL to a non-landline based DSL.
I made some purchases that I probably should have foregone.
However, I was able to sell some items, as well as return some items.
So, all in all, financially speaking, not a great month, but not the worst.
August:
I will be starting my second job sometime in August, which will bring in about $28/wk (3 1/2 hours)
I need to make a decision about whether I'm going to pay my gym membership in full for a year at the reduced rate, or just pay one-quarter at the reduced rate by August 30.
The DFWO group I joined in July is doing a 7-day Caribbean cruise at the beginning of January. It cost's $700 + taxes and tips. I'd really like to go on this, but there is no way I'd be able to save enough to go by January, unless I put all my savings + extras toward it.
So, thinking about how excited I was about the Kenny G concert, and how it motivated me to "find" money to be able to go, I've come up with a long term goal.
Starting in August, I now have 3 savings goals.
1. Car Fund (until fully funded):
$220/mo base + all HSBC interest
+ 40% of extra* monies
2. House Downpayment Fund:
$50/mo base (TDAMERITRADE)
+ All ING interest
+ 30% of all extra* monies
3. Cruise 2010 Fund:
30% of all extra* monies
*Extra Monies = Second job, proceeds from anything I sell, survey money, 5th paychecks, ING referral rewards, Carpooler money, overbudgeted amounts in gasoline, 50% groceries, bonuses, etc.
Once the Car fund is fully funded, it still will get all HSBC interest (to help pay for repairs.) But the House Downpayment will then go to 60% all Extra (plus the monthly savings), and the Cruise 2010 Fund will go to 40% all Extra.
I will track all extra money on a page (sidebar). I'm not *too* far from fully funding my Car Fund. I just have to really buckle down and quit spending so much overbudget in a few categories which keeps dwindling down my one-month buffer, which I then have to replenish, so send less to the savings goals.
-- I also think I'm going to track my gas mileage. I need to get gas tomorrow, so I'll start as of August 1.
Looking back, Looking Forward
August 1st, 2008 at 01:50 am
August 1st, 2008 at 02:09 am 1217552945
August 1st, 2008 at 02:09 am 1217552962
August 1st, 2008 at 02:26 am 1217553988
Thanks!
Gamecock,
I know what you're saying. It's just coming up with the 210.xx to pay the year in full -- it isn't something I had planned for. I had it in my budget to pay the $62.25 quarter fee in August, then $21/mo after that. If I pay for the full year, it will have to come out of money that should be going to my car fund - setting me back yet another month - just to save about $45 over the course of a year.
August 1st, 2008 at 02:33 am 1217554388
August 1st, 2008 at 02:41 am 1217554865
But . . in the mornings, I never have to fight for whatever equipment I want to use, nor do I have to worry about not having a shower stall available. Until the past few months, I was *the* only woman in the gym in the morning - once in awhile a man or two might appear. Now, one other lady regularly comes, plus another one haphazardly. Afternoons are a bit more crowded, but not overly so. Plus, the biggest benefit of all -- its right in my office building. NO EXCUSE!
August 1st, 2008 at 03:02 am 1217556159
August 1st, 2008 at 07:33 am 1217572427
August 1st, 2008 at 12:02 pm 1217588560
I stayed up way too late last night playing with the numbers in YNAB trying to figure out how paying out for a year at once would affect my budget. It's just not going to work. As it is now, it's going to take till October for me to get back into a full-month's buffer operating status. So, if I were to do the $200, that would set me back to January. Just not worth it to save $45.
boo,
Yes, sometimes it does seem like forever. At one time I thought it would take forever to pay off my debt, but it did happen. I like your thought about how at least the money is mine to use and not mine to give back to someone else!
August 1st, 2008 at 08:05 pm 1217617534
August 1st, 2008 at 08:11 pm 1217617889