Thursday, January 6, 2011

Our Financial Status - Update #15 - December 2010

Well, here we are again. Looking into our financials.

December had some highs and lows. Let's look at them now:

INCOME:
We actually were fine on this during December. Although Chip is without income right now (grrrr to previous employer) it was a three paycheck month for me, so that made up some of the difference.

UNDER BUDGET:
Auto Insurance: Hooray! We were $10 under budget here. This is a result of changing our payment method. Instead of sending them a check each month, we now have it automatically withdrawn from our checking account each month, saving us $5 a month. This was the first month and we obviously got credit for having "overpaid" previous months during this insurance cycle. A small savings, but it works.
Car Service/Parts: $30 under budget. Although Chip changed my oil before our Christmas road trip to visit my mom, he already had the supplies on hand, so nothing spent here. We're $60 under for the rolling budget, so that helps when other repairs rear their ugly heads.
Electricity/Water: $58 under for the month. January's power bill cleared on Dec 31st, so that will roll out in January. Still waiting for the high summer months bills to hopefully roll out during a hopefully milder (now) winter so that all pans out for on budget for the annual budget.
Hair: $25 under for the month. $73 under rolling budget. This will clear itself up soon because EVERYONE in our house needs a haircut right now (except Abigail who is still trying to establish a good base). =)
Childcare: $375 for the month. This is a combination of factors. First of all, we didn't have to pay for the last week of daycare this month because this facility was closed for the holidays. Secondly, we've pulled Patrick out of the "after school care" program as long as Chip is unemployed to save some money there.


ON BUDGET:
Television: Nothing new here. Actually two payments cleared in one month, so this will level out to "on budget" once January rolls by without a payment.
Term Life Insurance: As usual.
Alarm Monitoring: No surprise.
Home Services: Just as planned.
Home Supplies: Actually on budget this time. Don't know how that happened, but I'll take it!
Baby Supplies: On budget for the month. $167 under the rolling budget. This is one I really should clear the excess "rolling" amount now since the only "baby supplies" I'm buying is diapers and this giant amount really isn't needed.


OVER BUDGET:
Gad/Fuel: $62 over budget. Not really surprising for a month where we traveled for the holidays. It's several hundred miles round trip to my mom's so this always happens when we visit her.
Mobile Phone: $167 over budget. I promise this one has a good explanation. $95 of that was January's bill that paid out on Dec 31st, so that will pan itself out when the budget rolls over in January without a payment for that month. The other $72 was a phone that Chip got me for Christmas that is free after rebate. So once he sends in the rebate, this category will be on budget. =)
Eating Out (Fast Food/Restaurants): $40 over budget. $64 of this was eating out with a family of 4 while traveling to/from Christmas at my mom's. So we did okay otherwise. Not really a victory, but not one I feel TOO bad about considering our past obsession with eating out.
Groceries: $134 over budget. Not too proud of this one though. This was mainly a lot of little trips to the store due to lack of poor planning from a homemaking point of view. I think I'm going to be much better at this during January.
Doctor: $50 over budget. We planned for Abigail's check up for December. We did not count on Abigail having the flu and Patrick having strep at the same time requiring two extra co-pays. Sigh... Luckily this should pan out soon since we don't go back for another well-child visit until June. Let's just see if we can stay healthy the rest of the winter!
Pharmacy: $121 over budget. See above "Doctor" category and take into consideration two doses of amoxicillan (why didn't we remember that this is one of the FREE prescriptions at Publix) and one of Tamiflu. Also, some Benedryl when we had to take Patrick to the ER while visiting my mom because of the rash he got from his Amoxicillan. Sigh....
Mortgage/Timeshare: $1323 over budget. Yeah, I'm still upset about this situation, but it is what it is.

ADDITIONAL COMMENTS:

The highs I mentioned:

  • An extra paycheck in the month for me.
  • Chip will be getting paid soon (more on that in another post)!!!!!
  • Christmas was paid for IN CASH for the second year in a row!
  • I sold some of the homemade candy that I was asking you guys about its sellability.
  • Stocked away an additional few hundred dollars into the emergency fund since we're currently living under tight conditions.

The lows I mentioned:

  • Stupid timeshare maintenance fees that I had to put on a credit card.
  • Chip doesn't qualify for unemployment so we're still being extra careful.
  • We had to spend that extra paycheck on living and the holidays instead of paying off debt like I'd like to.
  • Had to pull out that extra few hundred dollars mentioned above out of savings and into the checking account to cover basics. At least it was there, right?
  • Could only send the minimums to the credit card companies. Boo, hiss.
  • Had to spend $367 on dental work for Patrick.

Debt Paid off Since November 2010: -1319.75 (stupid timeshare!)
Debt Paid off Since October 14, 2009: $18,167.39
Change in Networth since November 2010: $34.17
Change in Networth from October 14, 2009: + $35024.35


How are you doing? How did you do during the Christmas holidays (with food, family, and presents)?

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