We survived our first month’s budget. We did great! I hate to admit this but I think it’s good for us. Knowing that I have to write down everything I spend has me think twice about what I spend. As I suspected, one of us is way more diligent than the other about writing down expenses. I write them down as soon as I spend anything. Vince, on the other hand, says he’ll write them down when the credit card bill comes in. I say .. how do you know where you stand in the middle of the month if you don’t see the credit card bill til the end of the month?
This month we went over in only two areas. Medical and Garden Supplies. I think I’ve already told you all this but the medical went over because (1) I went to the knee doctor which I do once every three months so by March, the amount I spent in January will be absorbed over three months and (2) My dentist appointment to get a tooth filled was scheduled for February and they had a cancellation in January. I probably won’t have another dental bill for months (our cleanings/check ups are free . . til Vince retires). For garden supplies, we went over because we have $60/month budgeted. We went to the garden center in Abilene when I was there for my doctor’s appointment and bought all the fertilizer we need for spring, as well as some pre-emergence herbicide and two bay leaf trees. We probably won’t spend anything on the garden in February. We’ll spend the most in March – July and then gardening will be pretty much over.
The most surprising thing for me was that I managed to stay within my yarn budget. I’m using stash yarn for several projects and that feels good too.
We had a good bit of $$ left in categories such as Groceries, Walmart/Household Supplies, and Eating Out. I’m happy with how our first month worked out . . we’re still speaking.
Jen says
Does the money leftover get moved to the yarn budget the following month? Ha
Susan says
That’s great news, Judy! Are you rolling over leftover categories, leaving it in, or maybe sticking it in an emergency fund? TMy church says we need to have an emergency fund that would pay 3 months expenses, in addition to our normal savings account. I don’t have that! It’s quite a bit when things are all added up. =)
Sherrill Pecere says
Susan, my financial guy says I need to have 6 mo. emergency in my savings acct. but I told him NO! It would be too easy to spend if it were just sitting there. Yikes!
Cocoa Quilts says
I set up to get a text message every time my credit card is used. So if hubby goes to the store, I know how much he spent before he gets home. Helps us keep track of spending before the bill comes. I had originally set up the text due to a fraud on our account, but now love it for managing the budget.
cassews says
So glad you are both still talking and you can see the savings!