Here are the highlights (& lowlights from January):
Income (note that this doesn't include retirement, charitable donations, or healthcare, all of which is deducted automatically before we ever see the money):
Standard pay - $21,700
Bonus pay - $8,400
Total income for January = $30,100
Highlights:
We were at or below spending targets in the following categories:
- Boys (general bucket category)
- Boys clothes
- Boys college
- Boys lessons
- Childcare (saved cash in December to pay for January's date night)
- Cleaning (the cleaner was on vacation, so we cleaned & saved $180)
- Gas
- Gifts
- Health
- Insurance
- My clothes
- Rent
- Liquor
- Vacation mortgage
- M's clothes
- Personal
- Seattle house utilities
Lowlights:
Areas where we were over our spending:
- Boys birthdays. Over by $7. Bought both boys a present (an organizer for their Rainbow Loom bands, which have taken over my house.) :-)
- Car - over by $967. :-( Major repair needed on my car, which is 9 years old.
- Dining out - over by $204, mostly due to my work trip. I had no idea I would have to pay for my own meals. Groan.
- Dry cleaning - over by $19. We've primarily switched to Dryel, and had to restock our supply.
- Entertainment - over by $90. We added this category for 2014, and ended up going on a day trip to Monterey. We'll balance this out by not doing anything similar in February.
- Groceries - over by $15. So close!
- House - over by $120. These were for our legal documents. Doesn't really belong in this category, but this is my "placeholder" category. ;-)
- San Francisco utilities - over by $109. The insulation in this house sucks big time, and the windows don't even seal. On "cold" nights, the heat runs forever.
- Vacation house utilities - over by $400. We have a yearly pay for a handyman/watch service that checks on our property weekly. Critical since we're not in the area.
- Toiletries - over by $56. We were out of everything. Hopefully we're stocked up & can lower this substantially in the next few months.
- Travel - over by $170. I purchased my mom's ticket to fly out and watch the boys in April.
- Seattle house mortgage - over by $17,748. Not really. ;-) We transferred $15,000 from savings to our HELOC, to reduce our interest. Our December payment also cleared in January, so two payments cleared during the same month.
In total, we spent $20,662 (removing the $15,000 transfer, as that's mostly just shuffling money around). Our planned expenses were $19,098, so we were over by $1,600. We average out all of our yearly totals, so there are some totals that don't make sense on a monthly scale. In general, the only anomaly that concerns me for our yearly budget is the car expense of $1167. That will definitely put a dent in our yearly budget.
How did you do with your January spending? Are you on track? If not, how will you adjust your spending to get back on track?
I think you did good. reducing your mortgage always feels nice, right? :)
ReplyDeleteI just calculated our January spending. I didn't have any goals to start the month with and we haven't been tracking - so not a lot of comparisons to make right now.
ReplyDeleteI still can't believe you had to pay for all your own meals on a work trip! No reimbursement??!! I would be so irritated.
That’s a lot of expenses. It’s difficult to handle all of this, but looking at the areas that you’re covered with like car major repair, birthdays, utilities, and more; it’s relieving. Just keep your spirit up, and for sure things will get better soon.
ReplyDeleteTaleen