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May update

May 31st, 2007 at 06:56 am

I am really excited. A couple of weeks ago DH and I sat down and came up with a plan to get our finances in better shape. The number one goal was to be better about our budget. This month we did great.

These are the areas we were monitoring along with our ending totals:
Entertainment: 0
Dining out: +6
Study expenses: +5
Personal care: 0
Hobbies/Leisure: 0
Household/home improvement: +8
Groceries: -16
Gas/auto: -29

We only had two categories over for a total of -$27 dollars. Although yesterday while we were running errands DH and I spent in the gas and grocery categories knowing that we would be over. Figured it was better to spend while we were already out than make a separate trip in a couple of days, just so it would be in the correct month. But I am going to subtract these from the amount available for next month.

Now being in budget is something great and exciting, but I am most happy about all the money we are transferring to our savings account. I am going to wait until June (after the next car payment is taken out), and then I'm going to drain our checking account. Since June is an even month the money will be going to our savings account which is a catch-all for our EF (fully funded), down payment fund and dining room table fund. Guess how much I'll be adding!! $818.46! And this is in addition to the $344 I added in May before we decided to do the even/odd savings. So this month we've added over $1150 to our savings account!

What a wonderful feeling. I hope next month we can do the same or even better. It would be great to throw that amount toward the cars!

6 Responses to “May update”

  1. homebody Says:

    Keep it up Katey you are doing great! I sent my YD (Marine wife) the link to your blog. I hope she starts following along.

  2. daybyday Says:

    That's great progress!

  3. fern Says:

    how could you get by spending just $16 on food for the month??

  4. homebody Says:

    I think that means she has $16.00 left or went $16.00 over budget right?

  5. freeme journey Says:

    Well done - keep it up.

  6. ktmarvels Says:

    Yeah, those numbers are just what we finished with at the end of the month. I've started couponing, but I haven't gotten to the point where I can feed us both for $16...maybe someday! Smile

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