Thursday, June 3, 2010

Our Financial Status - Update #8

May seems like it was a strange month in my head. Let's break it down and see if that feeling is correct:

INCOME:We made $44 more than expected this month. Hooray! $25 of that is due to the fact that I have a friend who wants me to teach him to play the piano and he's paying me $25 a week (for now) to teach him. We've just started, but that will add a nice little cushion to the budget.

OVER BUDGET AREAS:
Gas/Fuel: $59 over budget. I traveled to my mom's for Memorial Day weekend, so there was a bit of unplanned expense there.
Fast Food/Restaurants: $48 over budget. There is that ugly monster. The bane of my budget-minded existence. It's truly no one else's fault, but I still hate it. I blame living on a weird schedule these last two weeks with Chip worked 3rd shift (and therefore not having time to go to the grocery store), but that really is no excuse--we could make time if we really wanted to. Must do better.
Home Supplies: $59 over budget. We had to buy a water filter for our fridge.


ON BUDGET AREAS:
Auto Insurance: Just as expected, but happily half of what it once was with three vehicles! Hooray!
Television: No surprises there
Doctor: Patrick had a weird skin thing that we took him to have checked out.
Term Life Insurance: Of course this is just as expected.
Home Services (Pest Control): On budget. This budget will have to increase for June because we will have to pay for our annual termite bond.
Mortgage: As usual.

UNDER BUDGET AREAS:
Auto Repair/Parts: $30 under budget. We will need to spend this during June because I'm already up for another oil change. We just might spend May's and June's allotment...but this budget is a rolling one, so that is okay too I guess.
Mobile Phone: $6 under budget.
Utilities: This actually came out $122 under budget. That's because the water bill didn't clear during the month of May. But even after that, we're still more than $70 under, so we did great here.
Groceries: $23 under. At least with the eating out being over, this is lower than budgeted (although not by the same amount).
Pharmacy: $15 under. Not sick enough to buy some drugs we don't already have, it seems.
Baby Supplies: $50 under budget. Nothing spent in this category this month. Thank goodness for stocked up diapers!
Sitter/Daycare: $285 under. It seems that the last check didn't clear before the month ended AND there were two days that Abigail was out sick (thrush) that we didn't pay for.
Hair: $25 under budget.

Additional Comments:
  • Paid the minimum payment to CC#4 and $1500 to CC#3.
  • We got a bill for $178 as the balance of the bill for Chip's vasectomy. We will plan to pay this in June.
  • We will increase our Home Services budget to include the termite bond that is due in June.
  • We had to pay back over $1300 to the Dept of Labor because they kept sending us money during Chip's unemployment period although he told them he turned down a job. We intentionally set it aside in case they wanted it back. They did.
  • Still haven't touched the credit cards since January.
  • Sold over $130 in yard sale stuff. Didn't include it under "income" above, but it really helped keep so much stuff in the "under budget" category because I don't track cash spending on mint with the other stuff.
  • Our 3-year contract with our alarm monitoring company is up in June. I don't know what we will have to do to renew it. I don't know if it will be a lump payment for another long term or if it will be a monthly deal. We'll just have to see.
  • Abigail turns 1 this month (HOORAY!) so there will be some money spent on that.

Net Worth Update: Since October 1, 2009 when I really started paying attention to our finances, we have increased our net worth by $21,760.73! This is less than last month thanks to the stock market's effect on our 401k and IRAs, but I can't complain! We're almost $6400 richer (in assets) and have more than $15,000 less in debt that at that time!

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