Thursday, March 3, 2011

Our Financial Status - Update #17 - February 2011

It's time again for another monthly review of our family budget. If this doesn't entertain you, I certainly understand. However, this part of my blog is more for me than for you. I just invite you to read along if you'd like. If you don't want to read through it, just check out the next AMAZING post about Love Drop! Also be sure to come back tomorrow when there will be giveaways to enter (and yes...those are a LOT more fun than this update).

Here we go...

INCOME:
Our income itself was still down about $1800 from where it once was, but we did receive $4317 in income tax refunds. I discussed here what we plan on doing with that.


UNDER BUDGET:
Auto Service/Parts: $30 under budget. We did actually spend money here, but used a $50 rebate card that we got from the cell phone that Chip got me for Christmas...so no money out of pocket.
Doctor: $25 under budget for the month, but had $125 roll over from last month. I'm going to keep this one rolling and see if we come out on budget for the year.
Home Services: $41 under budget. No pest control this month (winter it is quarterly) are no e-mealz bill.
Baby Supplies: $8 under budget and a great deal on diapers.
Clothing: $0 spent this month. Actually...I spent $57 on Saturday, but it was at a consignment shop where I have credit, so it came out of that credit and none came out of pocket. Woo hoo!


ON BUDGET:
Auto Insurance: This month it was dead on at $87. However, next month it will drop to only $55 because we are dropped full coverage on our old cars. That's a $30 a month savings...Cha-ching.
Mobile Phones: No surprises.
Television: None here either
Term Life Insurance: We always know this is where this will land.
Alarm Monitoring: Standard monthly bill.
Mortgage/HOA: Just as expected.
Childcare: This is standard.


OVER BUDGET:
Gas/Fuel: $5 over budget. Seriously...$5? This should be considered "on budget" since I could have just put $35 in instead of $40, but for reporting honesty, I will list it under Over Budget.
Electricity/Water: $53 over budget. The weather is already looking really nice so far in March. Maybe this can even out a bit this month.
Groceries: $60 over budget. No real explanation here. Just happened I guess.
Home Supplies: $7 over. This should pan out in the next month.
Hair: $5 over for the month, but since this is a rolling budget, there is a lot of wiggle room in here from previous non-hair months. No concern here at all.
Eating Out: $42 over budget. Boo, hiss. This category is back in the "over budget" area. We did really well at the beginning of the month. A few times eating outside the home with a family of four really adds up.
Pharmacy: $25 over. Chip needed some acid reflux meds and it hit this month.


ADDITIONAL COMMENTS:


  • Once again, the minimums (plus $50) were sent to the credit cards. It's killing me that I had a chunk of money in our savings from our tax refund and I really want to send it to the credit card company, but I know I need to leave it alone until we don't need a bulked up emergency fund.
  • Speaking of which, we refreshed our emergency fund with our tax refund after trying really hard to deplete it last month.
  • I spent $60 this month to get my etsy shop off the ground. That investment should actually last a while. I've already made my first sale! Wish me luck!

Debt Paid off Since February 2011: $499.23.
Debt Paid off Since October 14, 2009: $19,159.40
Change in Networth since February 2011: +$5891.23
(yes...about $2500 of this is sitting in e-fund and will disappear once I use that money for credit card repayment)
Change in Networth from October 14, 2009: + $41,007.55

1 comment:

  1. Ooh, it is so hard to just let that money "sit" there, isn't it? Having an emergency fund is an adjustment, but a valuable one. No pun intended. Great job on the accountability, and the persistence. You guys have paid off an amazing amount of debt in the last year-plus.

    ReplyDelete

 

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