Ok, first, let's get the technicalities out of the way:
I did not spend more money than I earned this month, TECHNICALLY, because I got an unexpected bonus and a third paycheck.
Not only that, but I TECHNICALLY, had a cash cushion in checking because I did pretty well in April and March.
But, rather than comfort myself with these technicalities, I will get to the stark fact of the matter -- I did spend more than I earned this month because I went way over budget in just about every category.
But it wasn't totally outrageous. If I didn't get a bonus and there was only two paychecks this month (like most months), then I would have gone into the red by $62.
That ain't good, but it's fixable with some discipline and purse tightening in June.
So that's my first small goal of the month -- Save $62 in June by trimming my spending in some budget categories. Which ones? I'll figure that out.
The second small goal of the month is to do what I planned and use the cash from the third paycheck to pay off my car this month. Now, because I did spend over a little, I will wait until I get my first paycheck of this month, just to make sure that all the other stuff I had to pay first of the month is covered before I go cut a $1,000 check. It works out anyway, since my car payment is alway due on the 14th, two weeks into the month anyway.
And now the monthly break down:
Where I Did Well
Savings: I met my June goal in May by saving my entire bonus, putting it into my emergency fund. Technically, as Single Ma pointed out, I still owe my savings that $600 I would have put on my credit card.
Cell Phone: Saved about $18 here with my employee discount.
Transportation: Saved a total of $95 on both gas and Metro bus/train fare. Since I take the Metro, my car stays parked about five out of seven days (seven out of seven if I have no weekend plans). Funny I still only saved about $15 bucks given I don't drive. The two times I filled up did it to me here.
Where I Overspent
Personal Travel: I don't have anything budgeted for this, so every trip I take is over my budget (which isn't wise, I'll have to fix this). Took a trip to my guy's home for a friend's nuptials. It was a really nice getaway, even though it was 90 degrees and the sun felt like a blowtorch on the skin. At least I wasn't wearing a suit or tux.
Dining out: I saved $43 on groceries, but overspent on eating out by $244! That's including a last day of the month meal for me and my guy. We missed our flight and were all bummed out and stressed, so we went to town at Rosa Mexicano, which may now be, officially, my favorite restaurant in D.C. The rest, I treated myself to several "I'don't feel like cooking and I'm out of debt, so I'm having a cocktail and dinner!" meals. I think I got it out of my system.
Cosmetics: Carol's Daughter brought back their hair smoothies, so I ordered two and some shampoo for a grand total of $50.50, more than my $30 budget.
Clothes: Already told you, spent over $300 at Banana Republic at the start of the month, on top of some more bargain purchases.
Entertainment: Went to the movies, bought a Simpsons box set and still pay for Netflix, plus I bought some albums on i.Tunes. So, went over about $70 here. Uh, yeah. Oh yeah, and spent $20 on drinks... but don't remember when or with who... and no, I was NOT inebriated! I guess just have that much fun :-)
That looks like all on my spreadsheet.
So, I had a lot of fun! There aren't many purchases I'd take back (actually, if I bought a few fewer meals, I would have been in the black), but I know I have to calm down a little this month. I'll be good... but not a nun!
DH
Gifts: Again, I don't budget for gifts, so anything I buy is over budget (yet another thing I need to fix).
June 03, 2008
Sounds like you had a LOT of fun! and alot of not thinking about debt--which is exactly what you should have done after getting rid of your debt. You did a great job, and hopefully you got most of it out of your system.
Are you going to increase your 'fun' categories in your budget, now that you have some room to play and are debt-free?
Posted by: Sense | June 04, 2008 at 04:00 PM